Civic Intelligence

Hellenic Foundation

990 • Fiscal year 2021 • EIN 36-6098351

Jan 01, 2021 to Dec 31, 2021 • Filed on Jun 28, 2022

6251 West Touhy AvenueChicago, IL 60646

(773) 631-5222

Siviq Scores

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

Liabilities / Assets

17th percentile

0.01x

Higher debt load relative to assets than 17% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Liabilities / Revenue

17th percentile

0.04x

Higher debt load relative to revenue than 17% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Net Margin

73rd percentile

28%

Higher net margin than 73% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2021

Asset Growth

54th percentile

12%

Faster asset growth than 54% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2020 to 2021

Revenue Growth

14th percentile

-15%

Faster revenue growth than 14% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2020 to 2021

Assets

Up

$18,666,107

Up $1,941,484 (+12%) from 2020

Net Assets

Up

$18,422,532

Up $2,778,193 (+18%) from 2020

Liabilities

Down

$243,575

Down $836,709 (-77%) from 2020

Revenue

Down

$5,859,533

Down $1,002,225 (-15%) from 2020

Expenses

Up

$4,204,959

Up $230,591 (+5.8%) from 2020

Net Income

Down

$1,654,574

Down $1,232,816 (-43%) from 2020

Historical Trend

Balance Sheet Trend

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

$30M$20M$10M$0Assets 2010: $8,190,920Liabilities 2010: $65,951Net Assets 2010: $8,124,9692010Assets 2014: $9,154,581Liabilities 2014: $119,569Net Assets 2014: $9,035,0122014Assets 2015: $9,057,690Liabilities 2015: $121,490Net Assets 2015: $8,936,2002015Assets 2016: $9,658,343Liabilities 2016: $265,067Net Assets 2016: $9,393,2762016Assets 2017: $11,971,021Liabilities 2017: $479,502Net Assets 2017: $11,491,5192017Assets 2018: $11,233,344Liabilities 2018: $686,448Net Assets 2018: $10,546,8962018Assets 2019: $13,489,308Liabilities 2019: $641,047Net Assets 2019: $12,848,2612019Assets 2020: $16,724,623Liabilities 2020: $1,080,284Net Assets 2020: $15,644,3392020Assets 2021: $18,666,107Liabilities 2021: $243,575Net Assets 2021: $18,422,5322021Assets 2022: $16,024,082Liabilities 2022: $267,654Net Assets 2022: $15,756,4282022Assets 2023: $18,521,372Liabilities 2023: $340,096Net Assets 2023: $18,181,2762023Assets 2024: $21,047,737Liabilities 2024: $424,987Net Assets 2024: $20,622,7502024

Highlighted filing

2021

Assets$18,666,107
Liabilities$243,575
Net Assets$18,422,532

Operations Trend

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

$10M$5.0M$0Expenses 2010: $791,6002010Revenue 2014: $2,292,574Expenses 2014: $2,062,812Net Income 2014: $229,7622014Revenue 2015: $2,800,587Expenses 2015: $2,385,254Net Income 2015: $415,3332015Revenue 2016: $2,734,563Expenses 2016: $2,631,136Net Income 2016: $103,4272016Revenue 2017: $3,673,588Expenses 2017: $3,141,099Net Income 2017: $532,4892017Revenue 2018: $3,889,766Expenses 2018: $3,564,960Net Income 2018: $324,8062018Revenue 2019: $4,136,620Expenses 2019: $4,126,048Net Income 2019: $10,5722019Revenue 2020: $6,861,758Expenses 2020: $3,974,368Net Income 2020: $2,887,3902020Revenue 2021: $5,859,533Expenses 2021: $4,204,959Net Income 2021: $1,654,5742021Revenue 2022: $5,901,437Expenses 2022: $5,632,738Net Income 2022: $268,6992022Revenue 2023: $6,780,239Expenses 2023: $6,144,769Net Income 2023: $635,4702023Revenue 2024: $8,250,275Expenses 2024: $7,282,221Net Income 2024: $968,0542024

Highlighted filing

2021

Revenue$5,859,533
Expenses$4,204,959
Net Income$1,654,574
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Jun 28, 2022
Return Version
2021v4.0
Gross Receipts
$7,675,197
Mission and Program Overview

Mission

The hellenic foundation's mission is to fund the development and support of programs and projects benefiting greek american and orthodox christian organizations in the chicagoland area.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$15,304,962$16,969,104▲ $1,664,142
Savings and Temporary Cash Investments$979,852$1,063,639▲ $83,787
Pledges and Grants Receivable$310,197$501,365▲ $191,168
Land, Buildings, and Equipment, Net$117,160$103,579▼ $13,581
Prepaid Expenses and Deferred Charges$12,452$28,420▲ $15,968
Total Assets$16,724,623$18,666,107▲ $1,941,484
Liabilities
Other Liabilities$622,107--
Accounts Payable and Accrued Expenses$231,767$233,575▲ $1,808
Grants Payable$226,410$10,000▼ $216,410
Total Liabilities$1,080,284$243,575▼ $836,709
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$15,644,339$18,422,532▲ $2,778,193
Total Net Assets Fund Balance$15,644,339$18,422,532▲ $2,778,193
Total Liabilities and Net Assets / Fund Balance$16,724,623$18,666,107▲ $1,941,484

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$40,594$185,413$226,007
Leasehold Improvements$27,192$103,300$130,492
Equipment$10,681$98,968$109,649
Land$25,112-$25,112
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Peter ValessaresExecutive DiFT$153,630$153,630
Peter ValessaresExecutive Director-$153,630$153,630

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$608,405
Program Service Revenue
$4,554,730
Investment Income
$692,822
Other Revenue
$3,576
All Other Contributions
$608,405
Change in Net Assets
$1,654,574

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,859,533
Revenue Not Reported on Form 990
$1,126,568
Total Revenue per Audited Statements
$6,986,101
Total Revenue per Form 990
$5,859,533
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$3,766,892
Other Expenses$318,505
Grants and Similar Amounts Paid$119,562
Total Fundraising Expense$69,359
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$3,282,475$61,951-$3,344,426
Payroll Taxes$252,170$12,719$3,947$268,836
Current Officers, Directors, Trustees, and Key Employees-$102,420$51,210$153,630
Grants to Domestic Orgs$119,562--$119,562
Office Expenses$32,826$82,687-$115,513
Fees for Service Investment Mgmnt Fees-$109,673-$109,673
Insurance$63,884$29,594$995$94,473
Advertising$2,366-$13,207$15,573
Fees for Services Accounting-$15,390-$15,390
Depreciation Depletion-$10,634-$10,634
Occupancy-$9,416-$9,416
Other Expenses$6,490$7,415-$6,490
Fees for Services Other-$5,056-$5,056
All Other Expenses$-90,486$15-$-90,471
Total Functional Expenses$3,682,577$453,023$69,359$4,204,959

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$4,207,908
Expenses per Audited Statements$4,204,959
Total Expenses per Form 990$4,204,959
Expenses Not Reported on Form 990$2,949
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
St Iakovos Retreat CenterKansasville, WI-Basketball Court$50,470
Asia Minor & Pontos HellenicChicago, IL501c3Produce Documentary$18,000
Greek American Rehab & Care CentreWheeling, IL501c3Nurse Call System$11,903
13th District Order of AhepaPalos Hills, IL501c3Scholarship Program$10,000
Annunciation Greek Orthodox ChurchKankakee, IL501c3Office Admin. Assist$10,000
Panhellenic Scholarship FoundationChicago, IL501c3Scholarship$10,000
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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
Yes
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

The treasurer reviews the 990 return by comparing it to the financial statements noting any changes in directors and by verifying that the information on the return reflects the position and activities of the organization.

Form 990, Page 6, Part VI, Line 12C

Board members are required to review the organization's conflict of interest policy and sign an agreement to adhere to the policy, disclose any present conflicts of interest and notify the president or board chair of any potential conflict which arises in the future.

Form 990, Page 6, Part VI, Line 15A

The board reviews employee performance for executive director on an annual basis and determines appropriate compensation. No compensation for officers and directors.

Form 990, Page 6, Part VI, Line 19

The organization does not make nor is there any requirement to make the governing documents, conflict of interest policy or financial statements available to the public.

Filing and Contact Details

Filer

Filer Name
Hellenic Foundation
EIN
36-6098351
Phone
7736315222
Address
6251 WEST TOUHY AVENUE, CHICAGO, IL 60646

Signing Officer

Name
Bill J Vranas
Title
Treasurer
Phone
7736315222
Signed
2022-06-28

Organization Details

Principal Officer
James Soukoulis
Formed
1953
Legal Domicile
Il
Voting Board Members
12
Independent Board Members
0
Employees
245

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 -2,949

Financial Statement Notes

Schedule D, Page 4, Part XII, Line 2D

Book / tax depreciation difference 2,949

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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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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0BOOK / TAX DEPRECIATION DIFFERENCE 2,949
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