Civic Intelligence

Hellenic Foundation

990 • Fiscal year 2022 • EIN 36-6098351

Jan 01, 2022 to Dec 31, 2022 • Filed on Sep 18, 2023

Organization ProfileHELLENICFOUNDATION.ORG
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

18th percentile

0.02x

Higher debt load relative to assets than 18% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Liabilities / Revenue

18th percentile

0.05x

Higher debt load relative to revenue than 18% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Net Margin

45th percentile

4.6%

Higher net margin than 45% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Top Officer Pay

43rd percentile

$157,235

Higher top officer pay than 43% of similar nonprofits.

Top officer pay equals 2.7% of source-year revenue.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Asset Growth

12th percentile

-14%

Faster asset growth than 12% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Revenue Growth

43rd percentile

0.7%

Faster revenue growth than 43% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets18th percentile

Assets

Down

$16,024,082

Down $2,642,025 (-14%) from 2021

Net Assets

Down

$15,756,428

Down $2,666,104 (-14%) from 2021

Liabilities

Up

$267,654

Up $24,079 (+9.9%) from 2021

Revenue And Expenses
Liabilities / Revenue18th percentileNet Margin45th percentile

Revenue

Up

$5,901,437

Up $41,904 (+0.7%) from 2021

Expenses

Up

$5,632,738

Up $1,427,779 (+34%) from 2021

Net Income

Down

$268,699

Down $1,385,875 (-84%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth12th percentile

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

2022

Assets$16,024,082
Liabilities$267,654
Net Assets$15,756,428
Open 2022 Filing

Operations Trend

Revenue Growth43rd percentile

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

2022

Revenue$5,901,437
Expenses$5,632,738
Net Income$268,699
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Sep 18, 2023
Return Version
2022v5.0
Gross Receipts
$9,000,406
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$16,969,104$14,463,382▼ $2,505,722
Savings and Temporary Cash Investments$1,063,639$947,501▼ $116,138
Pledges and Grants Receivable$501,365$508,529▲ $7,164
Land, Buildings, and Equipment, Net$103,579$89,720▼ $13,859
Prepaid Expenses and Deferred Charges$28,420$14,950▼ $13,470
Total Assets$18,666,107$16,024,082▼ $2,642,025
Liabilities
Accounts Payable and Accrued Expenses$233,575$267,654▲ $34,079
Grants Payable$10,000--
Total Liabilities$243,575$267,654▲ $24,079
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$18,422,532$15,756,428▼ $2,666,104
Total Net Assets Fund Balance$18,422,532$15,756,428▼ $2,666,104
Total Liabilities and Net Assets / Fund Balance$18,666,107$16,024,082▼ $2,642,025

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$34,773$191,234$226,007
Leasehold Improvements$20,020$110,472$130,492
Equipment$9,815$99,834$109,649
Land$25,112-$25,112
Compensation and Service Providers
Top Officer Pay43rd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Peter ValessaresExecutive DiFT$157,235$157,235
Peter ValessaresExecutive Director-$157,235$157,235

Board Members and Trustees

NameTitle
Demetrios SoukoulisPresident
Alexander GianarasDirector
Eleni KouimelisDirector
Ernest C KarrasDirector
George KarcazesDirector
His Grace Bishop Timothy BakakosDirector
Joanne StavrakasDirector
Louie KontosDirector
Michael ChiorosDirector
William VranasDirector
Nicholas GeroulisAssistant Se
Hon Anthony C KyriakopoulosAssistant Tr
Dorian BezanisSecretary
Bill J VranasTreasurer
Louis G ApostolVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$6,550
Program Service Revenue
$5,408,244
Investment Income
$480,736
Other Revenue
$5,907
All Other Contributions
$6,550
Change in Net Assets
$268,699

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,901,437
Revenue Not Reported on Form 990
$-2,931,406
Total Revenue per Audited Statements
$2,970,031
Total Revenue per Form 990
$5,901,437
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$4,632,610
Grants and Similar Amounts Paid$501,623
Other Expenses$498,505
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$3,955,949$68,810-$4,024,759
Grants to Domestic Orgs$501,623--$501,623
Payroll Taxes$433,546$17,070-$450,616
Current Officers, Directors, Trustees, and Key Employees-$157,235-$157,235
Office Expenses$34,627$70,116-$104,743
Fees for Service Investment Mgmnt Fees-$99,542-$99,542
Insurance$50,871$34,020-$84,891
Conferences and Meetings$36,759--$36,759
Advertising$11,520$13,516-$25,036
Fees for Services Accounting-$15,600-$15,600
Depreciation Depletion-$10,462-$10,462
Occupancy-$10,438-$10,438
All Other Expenses$8,814$1,269-$10,083
Other Expenses$2,619$7,301-$9,920
Fees for Services Other-$521-$521
Total Functional Expenses$5,106,123$526,615$0$5,632,738

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$5,636,135
Expenses per Audited Statements$5,632,738
Total Expenses per Form 990$5,632,738
Expenses Not Reported on Form 990$3,397
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
St Iakovos Retreat CenterKansasville, WI501c3Acc Imp Sports Field$148,380
Crossroad Institute IncBrookline Village, MA501c3Young Adult Ministry$67,301
Greek American Rehab & Care CentreWheeling, IL501c3Transport Bus$55,000
Crossroad Institute IncBrookline Village, MA501c3Religious Education$50,000
St Iakavos Retreat CenterKansasville, WI501c3Basketball Court$25,235
St Nectarios GocPalatine, IL501c3Ministry Infrastruct$25,000
Hellenic American AcademyDeerfield, IL501c3Educational Program$16,140
National Hellenic Invitational BaskOrland Park, IL501c3Basketball Tournamen$13,148
Chicago Greektown Educational FoundChicago, IL501c3Classroom Technology$12,000
National Hellenic MuseumChicago, IL501c3Online Programming$11,260
13th District Order of AhepaPalos Hills, IL501c3Scholarship Program$10,000
Panhellenic Scholarship FoundationChicago, IL501c3Scholarship$10,000
Panhellenic Scholarship FoundationChicago, IL501c3Alumni Reunion$9,951
St Peters & Paul Orthodox ChurchGlenview, IL501c3Edcuational Programm$9,697
St John the Baptist GocDes Plaines, IL501c3Feed My Neighbor Pro$8,863
Annunciation Greek Orthodox ChurchKankakee, IL501c3Office Admin. Assist$7,145
American Farm SchoolNew York, NY501c3Scholarship Program$6,896
Vladimirovo Sunday SchoolRock City, IL501c3Educational Programm$6,574
Hellenic Link - MidwestPark Ridge, IL501c3Scholarship & Lectur$6,033
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
2023-09-18

Organization Details

Principal Officer
Demetrios Soukoulis
Formed
1953
Legal Domicile
Il
Voting Board Members
14
Independent Board Members
0
Employees
295

Preparer

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

Additional Explanations

Form 990, Part XI, Line 9

“Book / tax depreciation difference -3,397”

Financial Statement Notes

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

“Book / tax depreciation difference 3,397”

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$16,024,082
Liabilities
$267,654
Net assets
$15,756,428
Revenue
$5,901,437
Expenses
$5,632,738
Net income
$268,699
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$21.0$0.42$20.6$8.25$7.28$0.97
2023Detailed filing. Detailed filing data is available for this year.$18.5$0.34$18.2$6.78$6.14$0.64
2022Detailed filing. Detailed filing data is available for this year.$16.0$0.27$15.8$5.90$5.63$0.27
2021Detailed filing. Detailed filing data is available for this year.$18.7$0.24$18.4$5.86$4.20$1.65
2020Detailed filing. Detailed filing data is available for this year.$16.7$1.08$15.6$6.86$3.97$2.89
2019Detailed filing. Detailed filing data is available for this year.$13.5$0.64$12.8$4.14$4.13$0.01
2018Detailed filing. Detailed filing data is available for this year.$11.2$0.69$10.5$3.89$3.56$0.32
2017Detailed filing. Detailed filing data is available for this year.$12.0$0.48$11.5$3.67$3.14$0.53
2016Detailed filing. Detailed filing data is available for this year.$9.66$0.27$9.39$2.73$2.63$0.10
2015Detailed filing. Detailed filing data is available for this year.$9.06$0.12$8.94$2.80$2.39$0.42
2014Detailed filing. Detailed filing data is available for this year.$9.15$0.12$9.04$2.29$2.06$0.23
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.19$0.07$8.12$0.79