Hellenic Initiative Inc

Nonprofit profile at a glance

EIN
455301968
IRS 990 coverage
2013–2024
Forms available
Form 990 2024
Location
New York, NY, USA
Phone
6469261972
Rating
65
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Single Organization Support

Official website

Reported finances

Revenue
$2,674,218
Expenses
$3,324,210
Assets
$2,855,442
Liabilities
$187,182

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

42 people listed

Executive titles in this filing

  • ANDREW LIVERIS (CHAIRMAN & CO-PRESIDENT)
  • GEORGE STAMAS (CO-PRESIDENT)
  • PETER POULOS (EXECUTIVE DIRECTOR)

Highest reported compensation

  • PETER POULOS (EXECUTIVE DIRECTOR): $80,000 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The hellenic initiative ("thi") is a nonpartisan, secular organization formed to undertake charitable and humanitarian acts and services in greece. Thi is committed to the relief, recovery, and renewal of greece while it helps shape greece's long-term recovery in response to the worsening economic crisis. Thi's strategies entail building programs in three areas critical to shaping greece's growth as it emerges from the economic crisis: crisis relief, entrepreneurship, and economic development.

What it reported doing in 2024

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

Operating model

Revenue model
Donor-supported. 97% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 86% of its reported program spending out as grants.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of total spending goes to programs and the filing reports few safeguards for money sent abroad.

Rating breakdown

  • Financial Efficiency: 50
  • Transparency & Controls: 80
  • Accountability: 90
  • Sustainability: 28
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 59.6%; rating input score 60
  • Program expense ratio: 47.1%; rating input score 47
  • Fundraising efficiency: $2.66 raised per $1 spent on fundraising; rating input score 7; 7th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: 2 of 8 controls in place; rating input score 25
    • Claims monitoring procedures: Pass
    • Requires narrative reports: Fail
    • Conducts field audits: Fail
    • May suspend future funding: Pass
    • Requires financial reports: Fail
    • Conducts site visits: Fail
    • Requires grant agreements: Fail
    • May require repayment: Fail
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -24.3%; rating input score 5; 5th percentile among comparable filings
  • Total-asset coverage ratio: 0.86; rating input score 32; 32nd percentile among comparable filings
  • Liabilities to assets ratio: 0.07; rating input score 66; 66th percentile among comparable filings
  • Officer compensation ratio: 2.4%; rating input score 73; 73rd percentile among comparable filings

Growth

  • Program expense growth: -1.7% per year; rating input score 0; 9th percentile among comparable filings
  • Revenue growth: 1.1% per year; rating input score 100; 16th percentile among comparable filings
  • Asset growth: -2.4% per year; rating input score 0; 7th percentile among comparable filings

Details

  • Where the money goes: 59.6% of revenue deployed · 47.1% of spending went to programs
  • Governance: 41 of 41 board members independent · 6 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $1.6M in reported program spending
  • Leadership: top reported pay $80K · 42 people listed
  • Consistency: 31 of 31 current checks pass
  • Schedules: 7 filed schedules · includes major donors and foreign activity
  • Filing history: 11 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Financial Efficiency: Program expense ratio scored 47/100.
  • High — Transparency & Controls: Foreign activity oversight: 6 of 8 not reported.
  • High — Financial Efficiency: Fundraising efficiency scored 7/100.
  • High — Sustainability: Operating margin scored 5/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 32/100.