Civic Intelligence

Hellenic American Academy Foundation Nfp

990 • Fiscal year 2023 • EIN 32-0167308

Jul 01, 2022 to Jun 30, 2023 • Filed on Nov 10, 2023

Organization ProfileHELLENICAMERICANACADEMY.ORG
445 Pine StreetDeerfield, IL 60015

(847) 317-1063

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

83rd percentile

0.59x

Higher debt load relative to assets than 83% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Liabilities / Revenue

85th percentile

1.21x

Higher debt load relative to revenue than 85% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Net Margin

78th percentile

24%

Higher net margin than 78% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Top Officer Pay

22nd percentile

$0

Higher top officer pay than 22% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Asset Growth

46th percentile

4.0%

Faster asset growth than 46% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Revenue Growth

12th percentile

-30%

Faster revenue growth than 12% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets83rd percentile

Assets

Up

$5,569,088

Up $214,316 (+4.0%) from 2022

Net Assets

Up

$2,288,994

Up $726,705 (+47%) from 2022

Liabilities

Down

$3,280,094

Down $512,389 (-14%) from 2022

Revenue And Expenses
Liabilities / Revenue85th percentileNet Margin78th percentile

Revenue

Down

$2,718,169

Down $1,158,146 (-30%) from 2022

Expenses

Up

$2,065,305

Up $220,171 (+12%) from 2022

Net Income

Down

$652,864

Down $1,378,317 (-68%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth46th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$6.0M$4.0M$2.0M$0-$2.0MAssets 2020: $209,679Liabilities 2020: $723,349Net Assets 2020: -$513,6702020Assets 2021: $231,063Liabilities 2021: $709,058Net Assets 2021: -$477,9952021Assets 2022: $5,354,772Liabilities 2022: $3,792,483Net Assets 2022: $1,562,2892022Assets 2023: $5,569,088Liabilities 2023: $3,280,094Net Assets 2023: $2,288,9942023Assets 2024: $5,317,932Liabilities 2024: $3,210,110Net Assets 2024: $2,107,8222024Assets 2025: $5,201,418Liabilities 2025: $3,099,992Net Assets 2025: $2,101,4262025

Highlighted filing

2023

Assets$5,569,088
Liabilities$3,280,094
Net Assets$2,288,994
Open 2023 Filing

Operations Trend

Revenue Growth12th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$4.0M$2.0M$0-$2.0MRevenue 2020: $1,344,042Expenses 2020: $1,392,631Net Income 2020: -$48,5892020Revenue 2021: $1,595,542Expenses 2021: $1,568,505Net Income 2021: $27,0372021Revenue 2022: $3,876,315Expenses 2022: $1,845,134Net Income 2022: $2,031,1812022Revenue 2023: $2,718,169Expenses 2023: $2,065,305Net Income 2023: $652,8642023Revenue 2024: $1,794,533Expenses 2024: $1,982,088Net Income 2024: -$187,5552024Revenue 2025: $1,976,798Expenses 2025: $1,983,194Net Income 2025: -$6,3962025

Highlighted filing

2023

Revenue$2,718,169
Expenses$2,065,305
Net Income$652,864
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Nov 10, 2023
Return Version
2022v5.0
Gross Receipts
$2,792,980
Mission and Program Overview

Mission

To be the preeminent educational and cultural center for hellenism in the united states recognized for academic excellence, a strong sense of community, and the promotion of greek heritage and faith.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$4,961,605$4,914,179▼ $47,426
Cash and Non-Interest-Bearing Accounts$389,844$218,272▼ $171,572
Accounts Receivable$850$6,681▲ $5,831
Total Assets$5,354,772$5,569,088▲ $214,316
Other Assets Total$2,473$429,956▲ $427,483
Liabilities
Mortgage Notes Payable Secured by Investment Property$3,201,926$2,641,798▼ $560,128
Unsecured Notes Loans Payable$500,000$500,000→ $0
Other Liabilities$75,312$94,301▲ $18,989
Accounts Payable and Accrued Expenses$15,245$43,995▲ $28,750
Total Liabilities$3,792,483$3,280,094▼ $512,389
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,562,289$2,288,994▲ $726,705
Total Net Assets Fund Balance$1,562,289$2,288,994▲ $726,705
Total Liabilities and Net Assets / Fund Balance$5,354,772$5,569,088▲ $214,316

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$4,504,469$131,434$4,635,903
Land$275,000-$275,000
Leasehold Improvements$113,943$32,696$146,639
Equipment$20,767$60,617$81,384
Other Assets Org$3,710--
Compensation and Service Providers
Top Officer Pay22nd percentile

Board Members and Trustees

NameTitle
Demetrios LogothetisChairman
Peter MaroutsosChief Oper.
Angelo SpyratosSecretary
Manolis KaramouzisTreasurer
Dr Spiro KarrasVice-preside
Revenue and Support

Revenue Composition

Contributions and Grants
$1,063,141
Program Service Revenue
$1,575,582
Investment Income
$0
Other Revenue
$79,446
All Other Contributions
$881,742
Change in Net Assets
$652,864
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,418,407
Other Expenses$646,898
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,320,532$97,875-$1,418,407
Depreciation Depletion-$206,684-$206,684
Interest-$130,157-$130,157
Occupancy$97,677$10,853-$108,530
Fees for Services Other$13,867$21,690-$35,557
Insurance-$26,952-$26,952
Information Technology$7,576$16,460-$24,036
Office Expenses$8,247$8,247-$16,494
Fees for Services Accounting-$6,950-$6,950
Advertising$1,377$4,131-$5,508
Fees for Services Legal-$1,599-$1,599
Other Expenses$6,543$1,185-$1,185
All Other Expenses$150--$150
Total Functional Expenses$1,503,699$561,606$0$2,065,305
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$154,257
Fundraising Direct Expenses$74,811
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Gala$297,733$123,907$16,468$107,439
All Others$37,923$30,350$2,394$27,956
Total Events$335,656$154,257$74,811$79,446
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Def Program and Reg Fees$69,150
Accrued & Withheld P/r Tax$25,151
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“Executive committee will review a draft of the form 990 prior to its filing.”

Form 990, Page 6, Part VI, Line 18

“AVAILABLE UPON REQUEST”

Form 990, Page 6, Part VI, Line 19

“AVAILABLE UPON REQUEST”

Filing and Contact Details

Filer

Filer Name
Hellenic American Academy
EIN
32-0167308
Phone
8473171063
Address
445 PINE STREET, DEERFIELD, IL 60015

Signing Officer

Name
Demetrios Logothetis
Title
Chairman
Phone
8473171063
Signed
2023-11-10

Organization Details

Principal Officer
Demetrios Logothetis
Formed
2005
Legal Domicile
Il
Voting Board Members
0
Independent Board Members
0
Employees
63
Volunteers
25

Preparer

Firm
Klesman & Company Pc
Address
7110 W 127TH STREET SUITE 230, PALOS HEIGHTS, IL 60463
Preparer
Edward M Hayes
Phone
7089230200
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Book / tax depreciation difference 73,841”

Raw XML Appendix397 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0false
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0false
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0false
IRS990ScheduleE/MaintainScholarshipsRecsInd0false
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0NON-DISCRIMINATION POLICY INCLUDED IN HAA SOCRATES DAY SCHOOL PARENT/STUDENT HANDBOOK SIGNED FOR BY PARENT AND STUDENT.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1NON-DISCRIMINATION POLICY INCLUDED IN HAA SOCRATES DAY SCHOOL PARENT/STUDENT HANDBOOK SIGNED FOR BY PARENT AND STUDENT.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, LINE 4
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContributionsTotAmt0181399
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContriEvent1Amt0173826
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContriEvent2Amt07573
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt074811
IRS990ScheduleG/FundraisingEventInformationGrp/EntertainmentEvent1Amt011990
IRS990ScheduleG/FundraisingEventInformationGrp/EntertainmentTotalEventsAmt011990
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0GALA
IRS990ScheduleG/FundraisingEventInformationGrp/Event2Nm0ALL OTHERS
IRS990ScheduleG/FundraisingEventInformationGrp/FoodAndBeverageEvent1Amt043959
IRS990ScheduleG/FundraisingEventInformationGrp/FoodAndBeverageTotalEventsAmt043959
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt0297733
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent2Amt037923
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt0335656
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt0123907
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent2Amt030350
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt0154257
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt079446
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt018862
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt016468
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent2Amt02394
IRS990ScheduleG/FundraisingEventInformationGrp/OtherEventsTotalCnt02
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0EXECUTIVE COMMITTEE WILL REVIEW A DRAFT OF THE FORM 990 PRIOR TO ITS FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1AVAILABLE UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2AVAILABLE UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3BOOK / TAX DEPRECIATION DIFFERENCE 73,841
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XI, LINE 9
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0IL
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt05354772
IRS990/TotalAssetsEOYAmt05569088
IRS990/TotalAssetsGrp/BOYAmt05354772
IRS990/TotalAssetsGrp/EOYAmt05569088
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt01063141
IRS990/TotalEmployeeCnt063
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0561606
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01503699
IRS990/TotalFunctionalExpensesGrp/TotalAmt02065305
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt03792483
IRS990/TotalLiabilitiesEOYAmt03280094
IRS990/TotalLiabilitiesGrp/BOYAmt03792483
IRS990/TotalLiabilitiesGrp/EOYAmt03280094
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01562289
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02288994
IRS990/TotalProgramServiceExpensesAmt01503699
IRS990/TotalProgramServiceRevenueAmt01575582
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01575582
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02718169
IRS990/TotalVolunteersCnt025
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt05354772
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt05569088
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt0500000
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt0500000
IRS990/VotingMembersGoverningBodyCnt00
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0HELLENICAMERICANACADEMY.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/PersonNm0DEMETRIOS LOGOTHETIS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRMAN
ReturnHeader/BusinessOfficerGrp/PhoneNum08473171063
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-11-10
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0HELLENIC AMERICAN ACADEMY
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0HELL
ReturnHeader/Filer/EIN0320167308
ReturnHeader/Filer/PhoneNum08473171063
ReturnHeader/Filer/USAddress/AddressLine1Txt0445 PINE STREET
ReturnHeader/Filer/USAddress/CityNm0DEERFIELD
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IL
ReturnHeader/Filer/USAddress/ZIPCd060015
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0false
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0363606968
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0KLESMAN & COMPANY PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt07110 W 127TH STREET SUITE 230
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0PALOS HEIGHTS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd060463
ReturnHeader/PreparerPersonGrp/PhoneNum07089230200
ReturnHeader/PreparerPersonGrp/PreparationDt02023-12-11
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0EDWARD M HAYES
ReturnHeader/ReturnTs02023-12-19T14:11:02-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0DEMETRIOS
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0LOGOTHETIS
ReturnHeader/TaxPeriodBeginDt02022-07-01
ReturnHeader/TaxPeriodEndDt02023-06-30
ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$5,569,088
Liabilities
$3,280,094
Net assets
$2,288,994
Revenue
$2,718,169
Expenses
$2,065,305
Net income
$652,864
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.20$3.10$2.10$1.98$1.98$0.01
2024Detailed filing. Detailed filing data is available for this year.$5.32$3.21$2.11$1.79$1.98$0.19
2023Detailed filing. Detailed filing data is available for this year.$5.57$3.28$2.29$2.72$2.07$0.65
2022Detailed filing. Detailed filing data is available for this year.$5.35$3.79$1.56$3.88$1.85$2.03
2021Detailed filing. Detailed filing data is available for this year.$0.23$0.71$0.48$1.60$1.57$0.03
2020Detailed filing. Detailed filing data is available for this year.$0.21$0.72$0.51$1.34$1.39$0.05