Hellenic American Academy Foundation Nfp
- Assets
- $5.6m
- Revenue
- $2.7m
- Investments
- $0.0
- Employees
- 63
- Location
- Deerfield, IL
- Founding
- 05/2007
- Data as of
- 06/2023
- EIN
- 32-0167308
Organization Overview
Hellenic American Academy Foundation Nfp is located in Deerfield, IL. The organization was established in 2007. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary Schools, under the broad grouping of Education and related organizations. As of 06/2023, Hellenic American Academy Foundation Nfp employed 63 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hellenic American Academy Foundation Nfp 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 06/2023, Hellenic American Academy Foundation Nfp generated $2.7m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 19.3% each year . All expenses for the organization totaled $2.1m during the year ending 06/2023. While expenses have increased by 10.4% per year over the past 4 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
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.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOOL PROGRAMS: THE ACADEMEY WAS FORMED IN ORDER TO PROVIDE AN INDEPENDANT, BILINGUAL, PRIVATE SCHOOL. THE ACADEMY ALSO OFFERS WEEKEND AND EVENING SCHOOL PROGRAMS.
SUMMER PROGRAMS: THE ACADEMY OFFERS A SUMMER CAMP AND A GREEK CONVERSATION PROGRAM.
CULTURAL PROGRAMS: THE ACADEMY WAS FORMED IN ORDER TO PROMOTE AN UNDERSTANDING OF THE HELLENIC CULTURE, IDEAS, AND TRADITION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Manolis Karamouzis Treasurer | Officer | $0 | |
Dr Spiro Karras Vice-Preside | Officer | $0 | |
Demetrios Logothetis Chairman | Officer | $0 | |
Peter Maroutsos Chief Oper. | Officer | $0 | |
Angelo Spyratos Secretary | Officer | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $181,399 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $881,742 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,063,141 |
| Total Program Service Revenue | $1,575,582 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $79,446 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,718,169 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,418,407 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,599 |
| Fees for services: Accounting | $6,950 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $35,557 |
| Advertising and promotion | $5,508 |
| Office expenses | $16,494 |
| Information technology | $24,036 |
| Royalties | $0 |
| Occupancy | $108,530 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $130,157 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $206,684 |
| Insurance | $26,952 |
| All other expenses | $150 |
| Total functional expenses | $2,065,305 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $218,272 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,681 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $4,914,179 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $429,956 |
| Total assets | $5,569,088 |
| Accounts payable and accrued expenses | $43,995 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $2,641,798 |
| Unsecured mortgages and notes payable | $500,000 |
| Other liabilities | $94,301 |
| Total liabilities | $3,280,094 |
| Net assets without donor restrictions | $2,288,994 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $5,569,088 |