GRACE Scholars was founded by former Archbishop Wilton Gregory of Atlanta and Bishop J. Kevin Boland of Savannah in 2008 to take advantage of the SSO/tax credit legislation. Archbishop Gregory Hartmayer, OFM Conv. of the Archdiocese of Atlanta and Bishop Stephen Parkes of the Diocese of Savannah currently serve as the Chair and Vice Chair of the GRACE Board of Directors and are committed supporters of the GRACE mission.

GRACE Scholars is a Georgia nonprofit corporation and tax exempt charity (501-c-3 organization) and has met the requirements for designation as a Student Scholarship Organization (SSO) in Georgia. Since GRACE is an SSO, Georgia taxpayers can contribute to GRACE in exchange for a generous tax benefit created by the Georgia legislature – a 100 percent tax credit. Since 2008, thousands of taxpayers have contributed to GRACE. The donations collected become scholarships for students wanting to attend one of thirty-four GRACE participating schools in both the Archdiocese of Atlanta and the Diocese of Savannah. All students receiving awards have demonstrated financial need and are funded for their entire career at a school as long as they demonstrate need each year.