Lombard, IL, September 24, 2024 – The Greek Orthodox Metropolis of Chicago Foundation, an independent, nonprofit endowment supporting the Greek Orthodox Metropolis of Chicago, today announced a pledged gift of $1.0 million from The Spell Family Foundation, a charitable organization founded by Church leaders and dedicated philanthropists, Bill and Tiki Spell.
According to the Foundation’s spending policy, once a total of $5 million is raised, or 5-years elapse, whichever comes first, the Metropolis of Chicago Foundation will make regular distributions to the Metropolis of Chicago to support its growth, mission, and initiatives.
The first payment of the five-year gift has been received and invested in accordance with the Foundation’s investment policy. In the future, the Foundation will make annual distributions, consistent with its spending policy, to the Metropolis of Chicago including but not limited to the Vision for Growth. Examples include: clergy leadership and development (e.g., Higher Calling), ministries and programs (e.g., Project HOPE, Fanari Camp), Metropolis affiliated organizations (e.g., St. Iakovos Retreat Center, Philoptochos); and special parish needs (e.g., parish capital projects, debt reduction).
“There were two crucial needs that guided my family in making this giving decision: first, show gratitude for the great blessings God has bestowed on us, and second, to support as many parishes as possible so they can thrive and ultimately transform their communities. These needs were more than satisfied by the Metropolis of Chicago Foundation. I continue to be proud to serve on the board and am eager to support the Foundation’s mission and steward its growth over time,” said Bill Spell.
Bill is the President of Spell Capital Partners, LLC, a private equity firm and Family Office with more than $800.0 million in assets under management. He serves as a director of the Metropolis Foundation, is a member of the Greek Orthodox Archdiocesan Council, an Archon of the Ecumenical Patriarchate and member of the National Council, and a board member of both the Hellenic Initiative and Holy Cross/Hellenic College. Through the Spell Family Foundation, established in 1997, the Spell family has donated millions of dollars to religious, medical, and children’s philanthropies. The Spells, who reside in Minnesota, also are long-time stewards and benefactors of St. Mary’s Greek Orthodox Church in Minneapolis, and St. George’s Church in St. Paul, Minnesota.
“Bill and Tiki Spell are the kind of far-sighted servant leaders the Church needs most in this day and age. Through their generous gift, the Spell family is creating the change they want to see in the world by helping establish the conditions for the parishes of our Holy Metropolis to grow and remain vibrant in Christ. We are deeply humbled by the Spell family’s generosity and will honor them and their gift through our service to Christ and His people,” said His Eminence Metropolitan Nathanael.
Approved by delegates at the 2019 Clergy-Laity Assembly and formed in May 2022, the Metropolis of Chicago Foundation is a 501(c)(3) nonprofit separate from the Metropolis of Chicago with its own board of directors, financial accounts, and governance structure. The Foundation’s purpose is to provide long-term financial support to the Metropolis of Chicago. To learn more and support the Foundation, please visit: www.gomocfoundation.org.
About the Greek Orthodox Metropolis of Chιcago Foundation
The Greek Orthodox Metropolis of Chicago Foundation is a 501(c)(3) nonprofit endowment formed in May 2022. Its purpose is to provide long-term financial support to the Metropolis of Chicago over the span of generations. For more information, visit the Foundation’s website or contact Foundation Executive Director Vicki Pappas Karl at [email protected].
SOURCE; https://chicago.goarch.org/
