2024-01-22T12:54:40-06:00 2023-06-30 201925771 OWEN PLC 7294 Ellingham Court Glen Allen VA 230597172 990 2022-07-01 521277427 GReat Aspirations Scholarship Program Inc GREA 8045277726 2821 Emerywood Parkway 204 Richmond VA 232943726 Todd D Martin President and CEO 8045277728 2024-01-22 1 Todd Martin 999009999 0 Thomas E Owen Jr CPA P00486794 8042413258 2024-01-22 X 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z DBA GRASP Todd D Martin 2821 Emerywood Parkway Suite 204 Richmond VA 232943726 2319189 0 X http://grasp4va.org/ X 1983 VA To provide resources to students and families in need to access financial aid, scholarships, private financial support and counseling to encourage and maximize each student's educational opportunities. GRASP's focus is on increasing college, technical school, and workforce credential access and graduation rates, particularly among families without sufficient financial resources to accomplish this without GRASP's guidance and financial assistance.GRASP anticipates continuing to take advantage of the Virginia Neighborhood Assistance Tax Credit Program ("NAP") and Education Improvement Scholarship Program ("EISP"). The NAP and EISP programs provide significant tax incentives to Virginia private and business donors who support scholarships and other tuition assistance programs as defined further in Item III, 4(c). 23 23 89 0 0 0 1641035 1690411 476693 437500 788 954 -245617 190293 1872899 2319158 380638 630774 0 0 978044 1078670 2304 4400 66769 209834 270950 1570820 1984794 302079 334364 4687835 4988018 271502 237321 4416333 4750697 X GRASP's mission is to help all students and their families, with a focus on financially disadvantaged households, by: giving inspiration and hope that their goals are attainable; assisting them with the financial aid process and awarding scholarships; and supporting them in the attainment of their post-secondary goals at the lowest possible cost. GRASP is the only organization in the regions we serve that is primarily focused on assisting students with the postsecondary financial aid process and scholarship searching for all students. Financial aid is critical to increasing college access and success and is most effective when students and families learn about it early enough to make informed choices and plans. GRASP fills a substantial gap in the college access and success pipeline and fulfills our mission to ensure that every student has an equal opportunity for continuing education after high school through a balanced continuum of services. 0 0 987404 269747 GRASP is a non-profit organization specializing with helping students and their families, regardless of financial resources, to develop an educational plan for post secondary education. GRASP's professional financial aid advisors work in high schools and private settings, without charge to students and families, to assist with overcoming financial and motivational challenges to the goal of higher education. 348434 348434 90500 Unique among many college access and success programs, GRASP operates several scholarship programs, including at least one scholarship for every school it serves. Students have the option to use these scholarships for 2-year, 4-year, and trade schools. 282340 282340 268500 GRASP anticipates continuing to take advantage of the Virginia Neighborhood Assistance Tax Credit Program ("NAP") and Education Improvement Scholarship Program ("EISP"). The NAP and EISP programs provide significant tax incentives to Virginia private and business donors who support scholarships and other tuition assistance programs of (1) students and families of low to modest financial means and (2) provide scholastic assistance in developing post - secondary academic and vocational plans for children with one or more disabilities as defined under the federal IDEA legislation. The NAP program requires that more than 50% of GRASP tax credit derived revenues are used for education services in support of students and families with income at or below 300% of the recognized poverty level of income or 400% of the recognized poverty level for students with disabilities. The EISP Program, a scholarship program for students in K-12 who wish to attend a private school, requires that at least 90% of tax credit generated revenues under this program be paid out in scholarships for students at or below 300% of poverty, or in the case of students with disabilities, 400% of poverty by the end of the following fiscal year end. The GRASP Board has directed that preference be given to scholarships for students with disabilities attending private schools with specialized disability services under the EISP Program. 1618178 1 1 0 0 0 0 0 0 0 0 1 0 1 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 1 89 1 0 0 0 0 0 0 0 0 0 0 X 23 23 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X X GReat Aspirations Scholarship Program Inc 8045277726 2821 Emerywood Parkway Suite 204 Glen Allen VA 23294 Senator Walter A Stosch Director, Former Chairman/ 5.00 X 0 0 0 Sarah H Scarbrough PhD Director 1.00 X 0 0 0 David W Didawick CPA Director 1.00 X 0 0 0 Kenneth D Barker Former President and CEO 1.00 X X 0 0 0 Kenneth M Dye Chairman 10.00 X X 0 0 0 Judge Randolph A Beales Director 1.00 X 0 0 0 Levar M Stoney Director 1.00 X 0 0 0 Paula F Robinson MPA Vice Chairman 1.00 X X 0 0 0 Gary R Thomson Treasurer 1.00 X X 0 0 0 Richard D Adams Director 1.00 X 0 0 0 Charmica Epps Harris Director 1.00 X 0 0 0 Lorraine Justice PhD Director 1.00 X 0 0 0 Ebony A Lambert PhD Director 1.00 X 0 0 0 Van C Wilson EdD Director 1.00 X 0 0 0 Kristin Carleton AAMS Director 1.00 X 0 0 0 Juan Espinoza Director 1.00 X 0 0 0 Delegate J William Morefield Director 1.00 X 0 0 0 Kelli Parker Director 1.00 X 0 0 0 Sue Ann SAM Messmer Director 1.00 X 0 0 0 Charles R Duvall Jr Director 1.00 X 0 0 0 Todd D Martin President and CEO 40.00 X 144632 0 0 Patricia Y Gordon Chief Financial Officer 30.00 X 55884 0 0 200516 0 0 1 0 0 0 0 3094 805255 882062 4738 1690411 Education Improvement 611710 268500 268500 SOAR Virginia 529 611710 90500 90500 Public School Advisor 611710 74500 74500 Fees Earned Scholarshi 611430 4000 4000 437500 985 985 31 -31 -31 -31 0 3094 0 0 Increase in fair value 523000 190293 190293 190293 2319158 628747 0 0 630774 630774 963550 647198 258542 57810 40437 40437 74683 50085 20039 4559 30018 22513 7505 4400 4400 18105 18105 37421 28066 9355 922 691 231 6923 6923 5740 4305 1435 Computer database servi 45376 45376 Training expenses 36761 36761 Mileage reimbursement 32641 32641 Cellular communicatons 23698 21328 2370 33345 32975 370 1984794 1618178 299847 66769 383885 342168 69072 237436 84162 9900 50050 31586 18852 18464 3935455 4216850 196409 163200 4687835 4988018 250 5566 271252 231755 271502 237321 X 4067595 4540994 348738 209703 4416333 4750697 4687835 4988018 334364 0 X X 0 0 0 X 1999024 1403966 1512737 1871016 2054396 8841139 1999024 1403966 1512737 1871016 2054396 8841139 8841139 123180 67972 337958 -245617 190293 473786 172684 179000 351684 9666609 336750 0.91460 0.92270 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 50050 31586 18464 18464 Investment in Virginia529 Plans 4216850 F 4216850 Current portion of lease liability 36961 Accrued payroll 10765 Scholarships awarded and not paid 56500 Long-term portion of lease liability 127529 231755 X 2319189 0 2319189 -31 -31 2319158 1984825 0 1984825 -31 -31 1984794 Part X, Line 2: GRASP has evaluated its tax position for all open tax years subject to examination by the Internal Revenue Service which include the fiscal years ended June 30, 2023, 2022 and 2021. Based on the evaluation of GRASP's tax positions, management believes all tax positions taken by GRASP will be upheld for any examination that may follow in the open tax years previously mentioned. Therefore, no provision for the effects of uncertain tax positions has been made by management for the year ended June 30, 2023. Part XI, Line 4b - Other Adjustments: Loss on disposition of fixed assets -31. Part XII, Line 4b - Other Adjustments: Loss on disposition of fixed assets -31. 1 Scholarships 234 348434 EISP Scholarships 32 282340 Part I, Line 2: Organization, with few exceptions, makes scholarship check directly payable to the private K-12 school, college or university for which the student attends. Scholarships are based on a competitive application process. Each scholarship application is individually reviewed. 1 X 0 0 0 0 0 0 0 0 0 Part I, Line 3 Compensation of the Chief Operating Officer and Management is subject to review and approval by the Executive Committee of the Board of Directors on an annual basis. Form 990, Part VI, Section B, line 11b The final version Form 990 is e-mailed to the Chief Financial Officer who then e-mails the return to each voting Board member before the Form 990 is e-filed. The Form 990 is reviewed by the Chief Financial Officer, Treasurer, President and Audit Committee Chairwoman before the it is released for e-filing to the IRS, All board members will have also received the return and have access to the return before its filing. Form 990, Part VI, Section B, line 12c GRASP's Conflict of Interest Policy document identifies procedures for determining whether a conflict of interest exists, the disclosure of such, and actions to be taken by the board member and the governing board upon disclosure of such a conflict. GRASP has also documented its procedures for addressing the conflict of interest. GRASP has documented the procedures to be taken when it is believes that a violation of its conflict of interest policy has occurred and procedures to be taken when violation has been deemed to have occurred. Annually, each board member, committee member and manager with board delegated powers shall sign a statement which affirms that such person has received a copy of the conflict of interest policy, has read and understands the policy, has agreed to comply with the policy and understands GRASP is charitable and in order to maintain its federal tax exemption it must engage primarily in activities which accomplish one or more of its tax exempt purposes. Outside advisors may be used by GRASP to assist its board with monitoring its compliance with its conflict of interest policy. Form 990, Part VI, Section B, line 15 Compensation of the Chief Executive Officer and Management is subject to review and approval by the Executive Committee of the Board of Directors on an annual basis. Compensation of other officers and key employees is subject to review and approval by the Executive Committee of the Board of Directors on an annual basis. Form 990, Part VI, Section C, line 19 Governing documents are made available to the public on the public website. Form 990, Part XII, line 2(c) The organization has not changed its process since its prior tax year for internal oversight or auditor selection.