Gerondelis Foundation Inc
- Assets
- $6.9m
- Revenue
- $2.2m
- Investments
- $2.1m
- Employees
- 0
- Location
- Lynn, MA
- Founding
- 04/1993
- Data as of
- 12/2023
- EIN
- 04-6130871
Organization Overview
Gerondelis Foundation Inc is located in Lynn, MA. The organization was established in 1993. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Gerondelis Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Gerondelis Foundation Inc generated $2.2m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 1.6% each year. All expenses for the organization totaled $1.9m during the year ending 12/2023. While expenses have increased by 2.9% per year over the past 9 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Gerondelis Foundation Inc has awarded 599 individual grants totaling $16,083,165. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas C Demakis ESQ Treasurer | 0 | $8,000 | |
Gregory C Demakis ESQ President | 0 | $8,000 | |
Paul C Demakis ESQ Director | 0 | $8,000 | |
Thomas L Demakis Director | 0 | $8,000 | |
John N Demakis Director | 0 | $8,000 | |
T Phillip Comenos Director | 0 | $8,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $407 |
| Dividends & Interest | $43,599 |
| Net Rental Income | $2,067,918 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $44,834 |
| Total Revenue | $2,156,758 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $82,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $57,497 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $38,041 |
| Total operating and administrative expenses | $323,863 |
| Contributions, gifts, grants paid | $1,590,500 |
| Total expenses and disbursements | $1,914,363 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $880,975 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $3,910,000 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $6,860,777 |
| Accounts payable and accrued expenses | $28,977 |
| Grants payable | $1,022,440 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,051,417 |
Grants Awarded
Over the last fiscal year, Gerondelis Foundation Inc has awarded $1,846,180 in support to 72 organizations.
| Grant Recipient | Amount |
|---|---|
BOSTON UNIVERSITY TANGLEWOOD INSTIT PURPOSE: FOR FUNDING | $10,000 |
AMERICAN COLLEGE OF GREECE PURPOSE: FOR FUNDING | $50,000 |
GREEK GROUP TUTORING PURPOSE: FOR FUNDING | $10,000 |
HOLY MONASTERY KALYVIANI PURPOSE: FOR FUNDING | $25,000 |
BOYS AND GIRLS CLUB OF LYNN PURPOSE: FOR FUNDING | $5,000 |
CARE DIMENSIONS PURPOSE: FOR FUNDING | $5,000 |