Nonprofit · EIN 52-1277427
GREAT ASPIRATIONS SCHOLARSHIP PROGRAM INC
Tax-exempt · RICHMOND, VA 23294
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $2,490,185 | $2,481,101 | $9,084 | $8,410,475 | $2,823,385 | $5,587,090 |
| June 30, 2024 | 990 | $2,650,977 | $2,234,174 | $416,803 | $8,059,909 | $2,892,409 | $5,167,500 |
| June 30, 2023 | 990 | $2,319,158 | $1,984,794 | $334,364 | $4,988,018 | $237,321 | $4,750,697 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $1,698,173
- of which government grants
- $500,000
- Program service revenue
- $507,897
- Investment income
- $294,093
- Net income from fundraising events
- -$9,978
- Other revenue
- -$9,978
Expenses
- Grants and similar amounts paid
- $810,559
- Compensation of officers, directors and key employees
- $312,377
- Other salaries and wages
- $849,732
- Salaries, compensation and benefits (total)
- $1,345,666
- Professional fundraising fees
- $0
- Accounting fees
- $27,500
- Occupancy
- $30,371
- Travel
- $42,135
- Depreciation
- $6,586
- Program services (functional)
- $2,018,173
- Management and general (functional)
- $394,415
- Fundraising (functional)
- $68,513
Balance sheet and other
- Total assets, start of year
- $8,059,909
- Total assets, end of year
- $8,410,475
- Total liabilities, end of year
- $2,823,385
- Net assets, end of year
- $5,587,090
- Land, buildings and equipment
- $9,418
- Net assets without donor restrictions
- $5,431,606
- Net assets with donor restrictions
- $155,484
- Gross receipts
- $2,500,163
- Employees
- 96
- Volunteers
- 1
- Year formed
- 1983
- State of legal domicile
- VA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| TODD D MARTIN | PRESIDENT AN Officer | 40 | $147,027 | $12,930 |
| ANNE MICHIE | CHIEF COMPLI Officer | 40 | $92,292 | $15,483 |
| PATRICIA Y GORDON | CHIEF FINANC Officer | 30 | $57,856 | $15,910 |
| RICHARD ADAMS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| KENNETH BARKER | DIRECTOR Trustee or director | 1 | $0 | $0 |
| RANDOLPH BEALES | DIRECTOR Trustee or director | 1 | $0 | $0 |
| CHERYL BURKE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| KRISTIN CARLETON | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DAVID DIDAWICK | DIRECTOR Trustee or director | 1 | $0 | $0 |
| CHUCK DUVALL | DIRECTOR Trustee or director | 1 | $0 | $0 |
| KENNETH DYE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JUAN ESPINOZA | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MELODY HACKNEY | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JULIAN HILLERY | DIRECTOR Trustee or director | 1 | $0 | $0 |
| LORRAINE JUSTICE | DIRECTOR Trustee or director | 1 | $0 | $0 |
14 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| EBONY LAMBERT | DIRECTOR Trustee or director | 1 | $0 |
| CHRISTOPHER LLOYD | DIRECTOR Trustee or director | 1 | $0 |
| SUE ANN MESSMER | DIRECTOR Trustee or director | 1 | $0 |
| LYLE MOFFETT | DIRECTOR Trustee or director | 1 | $0 |
| WILLIAM MOREFIELD | DIRECTOR Trustee or director | 1 | $0 |
| SABENA MORETZ | DIRECTOR Trustee or director | 1 | $0 |
| KELLI PARKER | DIRECTOR Trustee or director | 1 | $0 |
| ED REED | DIRECTOR Trustee or director | 1 | $0 |
| PAULA ROBINSON | VICE CHAIR Trustee or director, Officer | 1 | $0 |
| SARAH SCARBROUGH | DIRECTOR Trustee or director | 1 | $0 |
| LEVAR STONEY | DIRECTOR Trustee or director | 1 | $0 |
| WALTER STOSCH | CHAIRMAN Trustee or director, Officer | 1 | $0 |
| GARY THOMSON | TREASURER Trustee or director, Officer | 1 | $0 |
| VAN WILSON | DIRECTOR Trustee or director | 1 | $0 |
990 for the year ended June 30, 2024: 22 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Todd D Martin | President and CEO Officer | 40 | $147,725 |
| Anne Michie | Chief Compliance Officer Officer | 40 | $88,440 |
| Patricia Y Gordon | Chief Financial Officer Officer | 30 | $55,061 |
| Senator Walter A Stosch | Director, Former Chairman/ Trustee or director | 5 | $0 |
| Sarah H Scarbrough PhD | Director Trustee or director | 1 | $0 |
| David W Didawick CPA | Director Trustee or director | 1 | $0 |
| Kenneth M Dye | Chairman Trustee or director, Officer | 10 | $0 |
| Judge Randolph A Beales | Director Trustee or director | 1 | $0 |
| Levar M Stoney | Director Trustee or director | 1 | $0 |
| Paula F Robinson MPA | Vice Chairman Trustee or director, Officer | 1 | $0 |
| Gary R Thomson | Treasurer Trustee or director, Officer | 1 | $0 |
| Richard D Adams | Director Trustee or director | 1 | $0 |
| Charmica Epps Harris | Director Trustee or director | 1 | $0 |
| Lorraine Justice PhD | Director Trustee or director | 1 | $0 |
| Ebony A Lambert PhD | Director Trustee or director | 1 | $0 |
| Van C Wilson EdD | Director Trustee or director | 1 | $0 |
| Kristin Carleton AAMS | Director Trustee or director | 1 | $0 |
| Juan Espinoza | Director Trustee or director | 1 | $0 |
| Delegate J William Morefield | Director Trustee or director | 1 | $0 |
| Kelli Parker | Director Trustee or director | 1 | $0 |
| Sue Ann SAM Messmer | Director Trustee or director | 1 | $0 |
| Charles R Duvall Jr | Director Trustee or director | 1 | $0 |
990 for the year ended June 30, 2023: 22 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Todd D Martin | President and CEO Officer | 40 | $144,632 |
| Patricia Y Gordon | Chief Financial Officer Officer | 30 | $55,884 |
| Senator Walter A Stosch | Director, Former Chairman/ Trustee or director | 5 | $0 |
| Sarah H Scarbrough PhD | Director Trustee or director | 1 | $0 |
| David W Didawick CPA | Director Trustee or director | 1 | $0 |
| Kenneth D Barker | Former President and CEO Trustee or director, Officer | 1 | $0 |
| Kenneth M Dye | Chairman Trustee or director, Officer | 10 | $0 |
| Judge Randolph A Beales | Director Trustee or director | 1 | $0 |
| Levar M Stoney | Director Trustee or director | 1 | $0 |
| Paula F Robinson MPA | Vice Chairman Trustee or director, Officer | 1 | $0 |
| Gary R Thomson | Treasurer Trustee or director, Officer | 1 | $0 |
| Richard D Adams | Director Trustee or director | 1 | $0 |
| Charmica Epps Harris | Director Trustee or director | 1 | $0 |
| Lorraine Justice PhD | Director Trustee or director | 1 | $0 |
| Ebony A Lambert PhD | Director Trustee or director | 1 | $0 |
| Van C Wilson EdD | Director Trustee or director | 1 | $0 |
| Kristin Carleton AAMS | Director Trustee or director | 1 | $0 |
| Juan Espinoza | Director Trustee or director | 1 | $0 |
| Delegate J William Morefield | Director Trustee or director | 1 | $0 |
| Kelli Parker | Director Trustee or director | 1 | $0 |
| Sue Ann SAM Messmer | Director Trustee or director | 1 | $0 |
| Charles R Duvall Jr | Director Trustee or director | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 2821 EMERYWOOD PKWY STE 204, RICHMOND, VA 23294-3720
- In care of
- % WALTER A STOSCH
- Principal officer (990 for 2024)
- TODD D MARTIN, 2821 EMERYWOOD PARKWAY SUITE 204, RICHMOND, VA 23294
- Signed the 990
- TODD D MARTIN, PRESIDENT AND CEO
- Phone
- (804) 527-7726
- Website
- HTTP://GRASP4VA.ORG/
- Return prepared by
- WELLSCOLEMAN
Mission
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.
Program accomplishments
- 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.Expenses $1,186,644 · revenue $393,459
- 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.Expenses $392,770 · grants $371,800 · revenue $114,438
- 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 BY GIVEN TO SCHOLARSHIPS FOR STUDENTS WITH DISABILITIES ATTENDING PRIVATE SCHOOLS WITH SPECIALIZED DISABILITY SERVICES UNDER THE EISP PROGRAM.Expenses $261,154 · grants $261,154 · revenue $240,000
- IN 2024, GRASP LAUNCHED THE PATHWAYS SCHOLARSHIP PROGRAM, A NEW 4-YEAR PILOT INITIATIVE DESIGNED TO HELP RICHMOND, VIRGINIA'S YOUTH OVERCOME THE BARRIERS THAT TOO OFTEN PREVENT THEM FROM REACHING THEIR FULL POTENTIAL. MANY YOUNG PEOPLE IN RICHMOND FACE SIGNIFICANT BUT SURMOUNTABLE CHALLENGES AS THEY TRANSITION FROM HIGH SCHOOL TO POSTSECONDARY EDUCATION. TO ADDRESS THESE BARRIERS, THE PATHWAYS PROGRAM WILL OFFER OPPORTUNITIES TO EXPLORE POSTSECONDARY OPTIONS, EDUCATE YOUTH REGARDING SETTING AND ACHIEVING LONG- TERM GOALS, AND SUPPORT YOUTH TO APPLY FOR FINANCIAL AID AND COMMUNITY COLLEGE. IN ADDITION, PARTICIPANTS WILL RECEIVE A SCHOLARSHIP AND A MONTHLY STIPEND TO COVER BASIC LIVING NEEDS FOR UP TO THREE YEARS WHILE ATTENDING COMMUNITY COLLEGE. THIS PROGRAM IS A CRITICAL RESOURCE FOR KEEPING RICHMOND PUBLIC SCHOOL STUDENTS AT RISK OF DROPPING OUT ENGAGED AND SUPPORTED. INITIAL FUNDING FROM THE CITY OF RICHMOND ENSURES THAT THE PROGRAM WILL BE SUSTAINABLE THROUGHOUT ITS FOUR-YEAR PILOT PHASE.Expenses $177,605 · grants $177,605
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 52-1277427
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1983
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B82Z)
- Assets (IRS master file)
- $8,410,475
- Income (IRS master file)
- $2,500,163
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $2,490,185 | $2,481,101 | $8,410,475 | IRS |
| 990 | June 2024 | $2,650,977 | $2,234,174 | $8,059,909 | XML |
| 990 | June 2023 | $2,319,158 | $1,984,794 | $4,988,018 | XML |
| 990 | June 2022 | – | – | – | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | IRS |
| 990 | June 2019 | – | – | – | IRS |
| 990 | June 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 52-1277427).
Questions about GREAT ASPIRATIONS SCHOLARSHIP PROGRAM INC
- What is the EIN of GREAT ASPIRATIONS SCHOLARSHIP PROGRAM INC?
- The employer identification number (EIN) of GREAT ASPIRATIONS SCHOLARSHIP PROGRAM INC is 52-1277427.
- Is GREAT ASPIRATIONS SCHOLARSHIP PROGRAM INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1983.
- Are donations to GREAT ASPIRATIONS SCHOLARSHIP PROGRAM INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does GREAT ASPIRATIONS SCHOLARSHIP PROGRAM INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of GREAT ASPIRATIONS SCHOLARSHIP PROGRAM INC due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did GREAT ASPIRATIONS SCHOLARSHIP PROGRAM INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of GREAT ASPIRATIONS SCHOLARSHIP PROGRAM INC?
- The 990 for the year ended June 30, 2025 names TODD D MARTIN.
- Who are the officers and directors of GREAT ASPIRATIONS SCHOLARSHIP PROGRAM INC?
- The 990 for the year ended June 30, 2025 lists 29 people; 3 received compensation from the organization, the highest $147,027 (TODD D MARTIN, PRESIDENT AN).
- How much revenue does GREAT ASPIRATIONS SCHOLARSHIP PROGRAM INC have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $2,490,185, expenses of $2,481,101 and total assets of $8,410,475 at year end.
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