Sunday, July 14, 2024

      Subscribe Now!


Featured Greek NewsStavros Niarchos Foundation Releases Deloitte Report on Impact of Three-Year $130 Million...

Stavros Niarchos Foundation Releases Deloitte Report on Impact of Three-Year $130 Million (€100 Million) Initiative Against the Greek Crisis

Hellenic News
Hellenic News
The copyrights for these articles are owned by HNA. They may not be redistributed without the permission of the owner. The opinions expressed by our authors do not necessarily reflect the opinions of HNA and its representatives.

Latest articles

Crisis Grant Program Benefitted More Than 470,000 People in Greece

Athens, February 24th, 2015—The Stavros Niarchos Foundation (SNF) today announced the results of Deloitte’s analysis of the Initiative Against the Greek Crisis, a three-year, $130 million (€100 million) grant program funded by the Foundation, announced in early 2012, in order to help alleviate the adverse effects of the socioeconomic crisis in Greece.

The philanthropic program’s support was distributed through more than 220 grants to nonprofit organizations over a period of almost three years. Ninety percent of the funding was allocated to social welfare and health programs, while the remaining 10% was distributed to education and arts and culture programs.

About 80% of the grants were directed towards combating social exclusion, supporting overburdened households and providing food aid to underprivileged social groups. Equally important, the philanthropic Initiative supported the preservation of health standards through emergency, relief and healthcare services, offered employment services and provided temporary accommodation and housing. It also provided access to educational and cultural programs for underprivileged groups. The majority of the grants were distributed in Attica and Central Macedonia, where most Greeks live, but the program served all regions of the country.

More than 470,000 people benefited from the grant program, including the following: Children and Youth (individuals from 5 to 25 years old in a vulnerable situation); Adults (vulnerable individuals older than 25); Elders (senior citizens either in a vulnerable socioeconomic situation or having reached an age that makes them vulnerable); Families and Caregivers (households and families below the poverty level or from other vulnerable groups); Immigrants and Refugees (foreign individuals seeking asylum or having a limited residence permit); People with Special Needs/Disabilities (individuals with severe mental or physical disabilities that make them vulnerable or socially excluded or in need of healthcare services); People with Chronic Diseases or Addictions (individuals who suffer from chronic or terminal diseases, substance addictions and may be in need of healthcare services).

Thanks for reading Hellenic News of America

The SNF funding created or sustained 3,000 jobs and had an economic impact more than double (2.23) the amount of the grants. In addition, the philanthropic Initiative helped grantee organizations leverage additional support from other donors. On a scale of 1 to 10, grant recipients rated at 7.2 the boost that SNF funding provided in helping them to attract additional philanthropic support. More than 90% of the Initiative’s grants were reported to have contributed to ensuring the grantee organizations’ financial viability.

For each supported sector, the report analyzes the beneficiaries, the amount of support, and the type of support provided to the grantee organizations (program support, operating expenses, equipment and vehicles, or construction and renovation) as well as the needs addressed. The provided services include the following: food aid provision; counseling and psychosocial support; support for living expenses; residential care; emergency and relief; temporary accommodation and housing; employment, training and volunteerism; community development and awareness.

The report also provides examples of those services: In food aid provision, for instance, Prolepsis Institute, with the SNF’s support, served daily meals to more than 80,000 students across Greece, reducing food insecurity, improving nutrition habits and strengthening social cohesion within schools. In counseling and psychosocial support, as another example, SOS Children’s Villages provided assistance to families in extreme poverty, with emphasis on educational and psychological support and support in kind.

In conjunction with the Deloitte report, SNF presented a documentary in Athens on February 24th introducing representative examples of organizations supported under the philanthropic Initiative. The aim of the documentary is to present the Initiative’s impact on the broader Greek society by showcasing real-life stories of people who received practical support in the midst of the crisis. The documentary is available online in Greek, as well as with English subtitles on the Foundation’s website at

While the Initiative against the Greek Crisis has come to a close, the Foundation continues its grant-making activities in the fields of Social Welfare, Health & Sports, Education and Arts & Culture, while simultaneously focusing its attention on a new philanthropic initiative entitled Recharging the Youth, a program also totaling $130 million (€100 million), which is aimed at combating the alarmingly high youth unemployment rate in Greece.

# # #

About the Stavros Niarchos Foundation

The Stavros Niarchos Foundation ( is one of the world’s leading private international philanthropic organizations, making grants in the areas of arts and culture, education, health and sports, and social welfare. The Foundation funds organizations and projects that are expected to achieve a broad, lasting and positive impact for society at large, and exhibit strong leadership and sound management. The Foundation also seeks actively to support projects that facilitate the formation of public-private partnerships as an effective means for serving public welfare.

From 1996 until today, the Stavros Niarchos Foundation has approved grant commitments of $1.57 billion / €1.20 billion, through 2,823 grants to nonprofit organizations in 111 nations around the world.

In 2012 and 2013, the Foundation announced two new initiatives of €100,000,000 ($130 million) each, to help the efforts to address the crisis in Greece. While the initiative in 2012, which has been completed, aimed to provide immediate relief against the adverse effects of the deepening crisis, the one in 2013 aims to address the high percentage of youth unemployment, seeking to create better employment prospects and new opportunities for the young.

The Foundation’s largest single gift ($796 million / €566 million) is the Stavros Niarchos Foundation Cultural Center (SNFCC) in Athens, which is expected to be completed in 2016. The project includes the new facilities of the National Library of Greece, and of the Greek National Opera, as well as the Stavros Niarchos Park. The SNFCC is a testament and a commitment to the country’s future. It is also an engine of short- to mid-term economic stimulus.

MEDIA CONTACT: Lauren Hiznay, Goodman Media International, [email protected] / 212-576-2700 x256

The copyrights for these articles are owned by the Hellenic News of America. They may not be redistributed without the permission of the owner. The opinions expressed by our authors do not necessarily reflect the opinions of the Hellenic News of America and its representatives.

Get Access Now!


Από 39 Ευρώ