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Hellenic Initiative INC FY2023 filing

Tax-deductible

New York, NY501(c)(3)InternationalEIN 45-5301968Revenue $3.1M in FY2023

On file with the IRSthehellenicinitiative.org750 Lexington Avenue, 10022-1200 · New York, NYTax-exempt since Oct 2012Publicly supported charity — 170(b)(1)(A)(vi)

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To undertake charitable and humanitarian acts and services in greece.

501(c)(3) charity; gifts are tax-deductible.
50¢ of each $1 spent went to programs.
$100K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $336K a year · 12% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
50%
of spending
Concern: 50% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$100K
to officers and key staff · 4% of spending
Looks good: pay to officers and key staff is 4% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
9 mo
of spending, in cash
Looks good: 8.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $29K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$313K
9% of total assets
Looks good: liabilities are 9% of assets; 50% or less.
Pt X · Ln 26
Independent board members
41
of 41 voting members
Looks good: 41 of 41 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$3.1M
+26% vs prior year
Spent
$2.7M
To programs
50%
Net assets
$3.3M
By yearFY2020–FY2024
Revenue
$3.1M
FY2023▲ +26%
Tap a bar for its year
Revenue by fiscal year
FY2020$2.7M
FY2021$2.7M
FY2022$2.5M
FY2023$3.1M
FY2024$2.7M
Expenses
$2.7M
FY2023▲ +24%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.7M
FY2021$2.0M
FY2022$2.2M
FY2023$2.7M
FY2024$3.3M
Net assets
$3.3M
FY2023▲ +17%
Tap a bar for its year
Net assets by fiscal year
FY2020$2.0M
FY2021$2.6M
FY2022$2.8M
FY2023$3.3M
FY2024$2.7M

From the FY2023 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Oct 2012.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

50 cents of each dollar spent went to programs.

Program services 50% · $1.3M Management & general 30% · $810K Fundraising 20% · $532K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

42 people listed on the 990; $100K paid to officers and key staff.

Part VII, Section A · reportable compensation
Katherine Courpas
Executive Director
$100,000Pt VII · Sec A
Alex Karloutsos
Board Member
$0Pt VII · Sec A
Aris Candris
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Dean Dakolias
Board Member
$0Pt VII · Sec A
Dean Metropoulos
Board Member
$0Pt VII · Sec A
Dennis Mehiel
Board Member
$0Pt VII · Sec A

Peter Poulos’s $80K as Executive Director is at the 19th percentile of top reported officer pay among 1168 $1–10M international nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 3 named individuals · Part VII

NameFY2024FY2023FY2022
Katherine Courpas—$100,000$190,822
Maria Papastathi——$105,000
Peter Poulos$80,000——

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Hellenic Initiative INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Provides charitable and humanitarian aid and services within Greece.

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Provided by the organization

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3 programs · $1.3M · in their own filed words · FY2023
01

Crisis Relief

Supporting high-impact nonprofit organizations that are providing a critical safety net to families affected by the economic crisis.

$568Kprogram expense
02

Entrepreneurship

Building a new generation of businesses and civic leaders and helping them nurture and transition good ideas into viable businesses and social ventures.

$388Kprogram expense
03

Economic Development

Mobilizing investment capital to reinvigorate greece's economy while charting a path to its long-term prosperity.

$373Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2025
Sotirios Zervoulias and Lea Soupata Zervoulias Family Foundation INCFY2025$29K
Total grants receivedfrom 1 funder$29K
Grants paid · 6 grants · $58K · 2020–2022
Washington Oxi Day FoundationDC · FY2022$16,000
Washington Oxi Day FoundationDC · FY2022$16,000
National Hellenic MuseumIL · FY2022$10,000
National Hellenic MuseumIL · FY2022$10,000
Washington Oxi Day FoundationDC · FY2020$3,000
American Hellenic Institute INCDC · FY2020$3,000

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$3.1M
Ln 12
Gifts and grantsLn 1h$3.2M
Investment incomeLn 3$37K
Money outPt IX
$2.7M
Ln 25
Programscol B$1.3M
Managementcol C$810K
Fundraisingcol D$532K
Owns and owesPt X
$3.3M
net assets · Ln 32
Cash and savingsLn 1–2$1.9M
Total assetsLn 16$3.6M
LiabilitiesLn 26$313K
PeoplePt VI, VII
42
listed · VII A
PaidVII A1
Voting boardVI 1a41
IndependentVI 1b41
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$3.2M
Fundraising eventsLn 1c$2.2M
Investment incomeLn 3$37K
Total revenueLn 12$3.1M
Assets in detailPt X, end of year
CashLn 1$26K
SavingsLn 2$1.9M
Cash and savings togetherLn 1–2$1.9M
InvestmentsLn 11–13$1.3M
Land, buildings, equipmentLn 10c$34K
Total assetsLn 16$3.6M
LiabilitiesLn 26$313K
Net assetsLn 32$3.3M
OperationsPt I, VI
EmployeesI 51
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$1.7M$1.9M
InvestmentsLn 11–13$768K$1.3M
Land, buildings, equipmentLn 10c$34K$34K
Total assetsLn 16$3.0M$3.6M
LiabilitiesLn 26$186K$313K
Net assetsLn 32$2.8M$3.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants and assistance to foreign recipientsLn 3$1.1M$1.1M
Other salaries and wagesLn 7$156K$125K$31K
Payroll taxesLn 10$13K$11K$3K
Management feesLn 11a$556K$197K$287K$72K
Accounting feesLn 11c$26K$26K
Other fees for servicesLn 11g$403K$33K$370K
Advertising and promotionLn 12$28K$28K
Office expensesLn 13$122K$122K
Information technologyLn 14$5K$5K
OccupancyLn 16$38K$38K
TravelLn 17$151K$123K$29K
InsuranceLn 23$14K$14K
Other expenses (24a–d)Ln 24$29K$0$29K$0
Total functional expensesLn 25$2.7M$1.3M$810K$532K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $2.7M$3.3M−$650K$2.7M 990 PDF
FY2023 Viewing $3.1M$2.7M$445K$3.3M 990 PDF
FY2022 $2.5M$2.2M$305K$2.8M 990 PDF
FY2021 $2.7M$2.0M$616K$2.6M 990 PDF
FY2020 $2.7M$1.7M$962K$2.0M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2023 990 (6 parts)
Part I · Summary $3,116,055 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $2,744,630$3,241,744
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $32,943$37,433
I-11 Other revenuePrior year −$313,040−$163,122
I-12 Total revenuePrior year $2,464,533$3,116,055
I-13 Grants and similar amounts paidPrior year $1,119,600$1,131,596
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $178,634$169,266
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $861,252$1,370,222
I-18 Total expensesPrior year $2,159,486$2,671,084
I-19 Revenue less expensesPrior year $305,047$444,971
Part VI · Governance 41 of 41 board members independent, 2 to look at
VI-1a Voting members of the governing body41
VI-1b Independent voting members41
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $3,116,055 across 6 lines filed
VIII-1c Fundraising events$2,186,606
VIII-1f All other contributions, gifts and grants$1,055,138
VIII-1h Total contributions, gifts and grants$3,241,744
VIII-3 Investment incomeExcluded from tax $37,433$37,433
VIII-8 Net income from fundraising eventsExcluded from tax −$163,122−$163,122
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax −$125,689$3,116,055
Part IX · Statement of functional expenses $2,671,084 across 13 lines filed
IX-3 Grants and assistance to foreign recipientsPrograms $1,131,596$1,131,596
IX-7 Other salaries and wagesManagement $124,861 · Fundraising $31,215$156,076
IX-10 Payroll taxesManagement $10,552 · Fundraising $2,638$13,190
IX-11a Management feesPrograms $196,800 · Management $286,772 · Fundraising $72,000$555,572
IX-11c Accounting feesManagement $25,634$25,634
IX-11g Other fees for servicesManagement $32,860 · Fundraising $369,969$402,829
IX-12 Advertising and promotionFundraising $27,727$27,727
IX-13 Office expensesManagement $121,552$121,552
IX-14 Information technologyManagement $5,030$5,030
IX-16 OccupancyManagement $38,319$38,319
IX-17 TravelManagement $122,666 · Fundraising $28,659$151,325
IX-23 InsuranceManagement $13,586$13,586
IX-24 Other expenses (24a–d)Programs $0 · Management $28,648 · Fundraising $0$28,648
IX-25 Total functional expensesPrograms $1,328,396 · Management $810,480 · Fundraising $532,208$2,671,084
Part X · Balance sheet $3,621,638 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $14,073$26,240
X-2 Savings and temporary cash investmentsStart of year $1,659,131$1,884,960
X-3 Pledges and grants receivableStart of year $540,452$414,863
X-9 Prepaid expenses and deferred chargesStart of year $5,500$5,500
X-10c Land, buildings and equipment, netStart of year $33,500$33,500
X-11 Publicly traded securitiesStart of year $768,200$1,256,575
X-16 Total assetsStart of year $3,020,856$3,621,638
X-17 Accounts payable and accrued expensesStart of year $186,048$312,846
X-26 Total liabilitiesStart of year $186,048$312,846
X-27 Net assets without donor restrictionsStart of year $2,834,808$3,308,792
X-32 Total net assets or fund balancesStart of year $2,834,808$3,308,792
X-33 Total liabilities and net assetsStart of year $3,020,856$3,621,638
Part XI · Reconciliation of net assets $3,308,792 net assets at year end
XI-1 Total revenue$3,116,055
XI-2 Total expenses$2,671,084
XI-3 Revenue less expenses$444,971
XI-4 Net assets at start of year$2,834,808
XI-5 Net unrealized gains (losses) on investments$29,013
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$3,308,792

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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