1. Last year, over ninety percent

of the students with whom our advisors met attended post-secondary institutions ranging from technical training to some of the nation’s top universities.

2. Each dollar invested in GRASP

for yields $141 in college financial aid.

3. On average, students who

meet with GRASP receive over

$12,000 in college financial aid.

“This is one of the most effective programs to which I have ever donated because it

takes advantage of the interplay of several tax benefits, and, even more importantly,

changes the lives of thousands of young people as they seek to become productive,

self-reliant citizens of the future.” —Senator Walter A. Stosch

Why GRASP?

Donor Information

Board of Directors

Chairman Dr. Robert D. Holsworth

Vice Chairman Kenneth M. Dye

Treasurer Thomas M. Denson, III, CPA

Jane M. Alford, M.Ed., CRC Dr. David L. Bailey, Jr.

Kenneth D. Barker Dr. David A. Brat

Dr. William C. Bosher, Jr. David W. Didawick, CPA Edward L. Flippen, Esq. Dr. Raymond Gargiulo

Andrea McDaniel Dr. Robyn McDougle

Robert B. Maxwell, III, M.Ed. Elsie Rose, CPA, CGMA

Dr. Sarah H. Scarbrough Stacey Strawn, M.A., Ed.H.D.

4551 Cox Road, Suite 110

Glen Allen, VA 23060

804-527-7726

www.grasp4va.org

A financial statement is available upon written request

from Virginia’s Office of Consumer Affairs.

Advisors bring clarity and reassurance, directing and assisting through a complex maze of paperwork.

GRASP Advisor Mrs. Golatt

(left) at the 2012 George

Wythe High School awards

ceremony with a proud

GRASP scholarship winner.

GRASP is a non-profit, 501(c)(3) charitable education organization funded by donations from

individuals, businesses, and foundations to support our in-school student advising program and to

provide Last Dollar Scholarships. GRASP provides weekly advisory services in Virginia high schools to

help students and their families establish a plan for education after high school. Advisors assist

students in the process of identifying, applying for, and obtaining scholarships and other financial aid.

GRASP’s programs also assist students with disabilities and GRASP students enrolled in post-

secondary education.

Donations may qualify for a 65% state tax credit

Plus a federal and state income tax deduction

About NAP

1. Eligibility An individual or business that pays Virginia state income tax is eligible. Tax credits are limited and only available through qualified charitable neighborhood organizations such as GRASP. 2. Time Limits Any tax credit not usable for the taxable year the donation was made may be carried over to the extent usable for the next five succeeding taxable years or until the full credit has been utilized, whichever is sooner.

It is the public policy of the Commonwealth to encourage businesses and individuals to make donations to neighborhood organizations for the benefit of low-income persons. The Neighborhood Assistance Program (NAP), administered by the Virginia Department of Education, was established to further this policy. GRASP is a NAP-participating organization, thus state income tax credits are available as an incentive to those who donate to GRASP. Our services are designed to minimize the effects of poverty through education opportunities and are provided primarily, but not exclusively, to low–income people.

GRASP Board Chairman Dr. Bob Holsworth

Tax credits are available to individuals donating cash or marketable securities to GRASP.

Eligible business donations may be made in cash, stock, goods, real estate, rent/lease of GRASP’s facility, and limited professional, and contracting services. Credits granted to a partnership, limited liability company, or S corporation are allocated to the individual partners, members, or shareholders in proportion to their ownership or interest in such business entities.

May qualify for federal and state tax deductions plus a 65% Virginia state tax credit

Minimum donation in a taxable year for the Virginia state tax credit: $500 individuals / $615 businesses

Maximum tax credit to an individual in any one taxable year: $81,250 (65% of a $125,000 donation.)

Individuals and Businesses

The Bill and Melinda Gates Foundation reports that

“the median wage for workers with no college is

close to the poverty line for a family of four.” With GRASP’s help, 90% of the students with whom we

work attend post-secondary education.

Donate to the general fund Adopt a local school Support last dollar scholarships — $500 to

$1,000 each Support scholarship funds for students with

disabilities Give to the endowment fund Donate in-kind contributions Include GRASP in planned giving

Donor Scenarios Because tax outcomes will vary with circumstances, please consult your tax advisors before assessing any benefits.

Estimated Tax Savings Individuals Businesses

AMT = Alternative Minimum Tax includes partnerships, limited

liability company, or S corporations

C corporations

Donation to GRASP $10,000 $10,000

Assumed Tax Rates 35% Federal Bracket and AMT 34% Federal Bracket

NAP tax credit 65.00% 65.00%

Tax savings for charitable deduction ($3,500) ($3,796)

Neighborhood Assistance Program tax credit ($6,500) ($6,500)

Federal tax impact of state tax credit by second year $0 $2,210

Estimated tax savings * ($10,000) ($8,086)

"Out of Pocket" Cost of Donation $0 $1,914

* Appreciated marketable securities may be donated at Fair Market Value without income taxes due on gain

“My dream has literally come true! I can’t wait for others to realize that they can afford college

too. Thanks for all you do!” — Emily Watlington, Class of 2012