Overview
What is Great Aspirations Scholarship Program Inc?
Great Aspirations Scholarship Program Inc, also known as GRASP, is a nonprofit organization situated in Richmond, Virginia. Their primary mission is to aid students and their families in overcoming financial and motivational obstacles to pursue higher education. They offer their professional services in high schools and private settings without charging students or families. GRASP's focus is on increasing access and graduation rates for college, technical schools, and workforce credentials, especially for families lacking sufficient financial resources. They utilize tax incentive programs like Virginia Neighborhood Assistance Tax Credit Program (NAP) and Education Improvement Scholarship Program (EISP) to support their cause. GRASP's mission is to inspire hope, assist with financial aid and scholarships, and provide guidance towards post-secondary goals at a minimum cost. They fill a significant gap in the college access and success pipeline, ensuring every student has an equal opportunity for further education after high school.
Official website here: www.grasp4va.org/
What are the reviews and ratings of this charity?
Charity Navigator rating: 94% (Four-Star out of Four Star rating)
Great Aspirations Scholarship Program Inc has received a strong Four-Star rating from Charity Navigator, reflecting its robust performance across various evaluation categories. With an impressive 100% score in Impact & Measurement and Leadership & Adaptability, the organization demonstrates strong effectiveness in achieving its mission and adapting to challenges. Its high program expense ratio of 81.83% indicates that a significant portion of its funds is directed towards its programs rather than administrative costs.
The charity excels in accountability and transparency, evidenced by its 100% independent board members and the absence of reported material diversion of assets. Additionally, the implementation of policies such as conflict of interest and whistleblower protections underscores its commitment to ethical governance. The organization also actively seeks feedback from the community it serves, showing a dedication to continuous improvement and responsiveness to stakeholder needs.
While the organization has notable strengths, the Accountability & Finance score of 85 suggests there may be areas for improvement in financial management practices. Overall, Great Aspirations Scholarship Program Inc stands out for its impactful work and commitment to transparency, making it a trustworthy option for donors looking to support educational initiatives.
This AI summary has been generated from information found on Charity Navigator.
Is Great Aspirations Scholarship Program Inc legitimate?
Great Aspirations Scholarship Program Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Great Aspirations Scholarship Program Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $4,400
Other Salaries and Wages: $963,550
For more financial information, click here
Official website here: www.grasp4va.org/
What is the mission statement of Great Aspirations Scholarship Program Inc?
The Great Aspirations Scholarship Program Inc's mission is centered around aiding students and their families, with a special focus on financially disadvantaged households. The program provides inspiration and hope, assisting in the financial aid process and awarding scholarships. Its primary goal is to help students attain their post-secondary goals at the most affordable cost, filling a significant gap in the college access and success pipeline. The organization also focuses on educating students and families about financial aid early on, enabling them to make informed decisions and plans. The Great Aspirations Scholarship Program Inc utilizes programs like the Virginia Neighborhood Assistance Tax Credit Program and Education Improvement Scholarship Program to provide significant tax incentives to donors supporting scholarships and tuition assistance programs.
Official website here: www.grasp4va.org/
Who is the CEO of Great Aspirations Scholarship Program Inc?
Todd D Martin is the Director, Former Chairman/ of Great Aspirations Scholarship Program Inc. The CEO's salary of Great Aspirations Scholarship Program Inc is $0 and their total compensation is $0.
Official website here: www.grasp4va.org/
What is the revenue of Great Aspirations Scholarship Program Inc?
Great Aspirations Scholarship Program Inc's revenue in 2023 was $2,319,158.
Official website here: www.grasp4va.org/
Who are the executives of Great Aspirations Scholarship Program Inc and what are their salaries?
The average compensation at Great Aspirations Scholarship Program Inc during 2023 was $10,826. There are 89 employees at Great Aspirations Scholarship Program Inc.
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- Compensation: $55,884
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Official website here: www.grasp4va.org/
Where can I find the form 990 for Great Aspirations Scholarship Program Inc?
Great Aspirations Scholarship Program Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.grasp4va.org/
Learn more at the official website: www.grasp4va.org/
Mission Statement of Great Aspirations Scholarship Program Inc
Great Aspirations Scholarship Program Inc, a nonprofit organization, is dedicated to aiding students and families in need, with a particular focus on financially disadvantaged households. The program's mission is threefold: firstly, to inspire and instill hope in students and their families, conveying the belief that their educational goals are within reach. Secondly, the organization assists these families in navigating the financial aid process and securing scholarships. Lastly, it supports students in achieving their post-secondary goals at the most affordable cost possible.
Great Aspirations Scholarship Program Inc stands out as the primary organization in the regions it serves, specializing in guiding students through the complex process of financial aid and scholarship searching. The nonprofit recognizes the significant role of financial aid in enhancing college access and success, and it emphasizes the importance of educating students and families early enough to allow informed decisions and planning. By filling this crucial gap in the college access and success pipeline, Great Aspirations Scholarship Program Inc works tirelessly to ensure that every student has an equal opportunity to pursue higher education beyond high school.
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Impact
July, 2024
Great Aspirations Scholarship Program Inc's impact is significant in helping students and families, particularly those from financially disadvantaged backgrounds, to access resources for higher education. By providing guidance and financial assistance through professional financial aid advisors, GRASP plays a crucial role in increasing college access and success rates among individuals who may not have had the means to pursue further education without their support. Through initiatives such as the Virginia Neighborhood Assistance Tax Credit Program and Education Improvement Scholarship Program, GRASP leverages partnerships with donors to maximize the impact of their assistance. Overall, GRASP's dedication to empowering students to reach their educational goals and navigate the financial aid process effectively makes a tangible difference in promoting equal opportunities for continued education after high school.
This information is meant to be a general summary of Great Aspirations Scholarship Program Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $954
- Program Service Revenue: $437,500
- Gross Receipts: $2,319,189
Assets and Liabilities:
- Total Assets: $4,988,018
- Total Liabilities: $237,321
- Net Assets: $4,750,697
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Education Improvement
Revenue
$268,500
SOAR Virginia 529
Revenue
$90,500
Public School Advisor
Revenue
$74,500
Fees Earned Scholarshi
Revenue
$4,000
Organization Details
Founding Year
1983
Phone
(804) 527-7726Principal Officer
Todd D Martin
Main Address
2821 Emerywood Parkway 204, Richmond, VA, 232943726
Website
www.grasp4va.org/NTEE Category
Code: B82Z - Education
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