Gerondelis Foundation Inc
Gerondelis Foundation Inc is a private foundation established in 1966 and located in Lynn, Massachusetts. The foundation operates as a 501(c)(3) organization and focuses on grantmaking to nonprofit organizations, with particular emphasis on the Boston area and Essex County region.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$7.0M
+2.6% YoY
Annual Giving
$1.9M
+35.8% YoY
Grant Count
64
-3.0% YoY
Avg Grant Size
$29K
+40.0% YoY
Under IRS private-foundation payout rules, Gerondelis Foundation Inc reported a distributable amount of $1.7M for 2024 — the minimum it must pay out in qualifying distributions.
Mission & Focus Areas
The foundation's primary purpose is giving for higher education and educational scholarships. The foundation provides scholarships to students who meet specific criteria: of at least one-fourth Greek lineage, residing or attending school in Essex County, Massachusetts, ranking in the upper 15 percent of their class or achieving a combined verbal math score of at least 1200 on the SAT I test, and officially admitted to a 4-year college or university.
Beyond scholarships, the foundation supports nonprofit organizations in the following areas:
- Education
- Social services
- Community development
- Children and youth
- Arts and culture
- Greek Orthodox organizations
- Philanthropy, voluntarism, and grantmaking
- Human services
Grantmaking
The foundation accepts grant applications through a formal process requiring:
How to Apply
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Geographic Focus
Where this funder awards grants
The foundation primarily funds organizations in Massachusetts, with emphasis on Essex County and the Boston metropolitan area. The foundation also makes grants in Texas and Illinois, and maintains a national geographic scope.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
As of 2024:
- Total assets: $7,038,867
- Total annual giving: $1,871,735
- Total revenues: $2,416,815
- Total expenses: $2,380,155
- Investment income and dividends: $45,624
- Net rental income: $2,258,576
- Number of employees: 0
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $7,038,867 | $6,860,777 | $6,402,585 |
| Revenue | $2,416,815 | $2,156,758 | $2,079,079 |
| Expenses | $2,380,155 | $1,914,363 | $2,372,248 |
| Qualifying Distributions | $1,871,735 | $1,378,680 | $2,056,416 |
| Net Investment Income | $2,206,395 | $1,914,895 | $1,882,867 |
| Distributable Amount | $1,746,031 | $1,410,780 | $1,413,461 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
250 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Saint Vasilios Greek Orthodox Churc ($250,000), St George Greek Orthodox Church ($205,000), St George Greek Orthodox Church ($150,000).
| Recipient | Purpose | Amount |
|---|---|---|
| AGGANIS FOUNDATION LYNN, MA | FOR FUNDING | $5,000 |
| AUBURN UNIVERSITY AUBURN, AL | SCHOLARSHIP | $5,000 |
| BELOVED ASHEVILLE ASHEVILLE, NC | FOR FUNDING | $50,000 |
| BOSTON UNIVERSITY BOSTON, MA | SCHOLARSHIP | $20,000 |
| BOSTON UNIVERSITY TANGLEWOOD INSTIT BOSTON, MA | FOR FUNDING | $10,000 |
| BOYS AND GIRLS CLUB OF LYNN LYNN, MA | FOR FUNDING | $17,500 |
| BRIGHAM AND WOMAN'S HOSPITAL BOSTON, MA | FOR FUNDING | $26,235 |
| CARE DIMENSIONS DANVERS, MA | FOR FUNDING | $5,000 |
| CENTERBOARD LYNN, MA | FOR FUNDING | $10,000 |
| CITY OF LYNN LYNN, MA | FOR FUNDING | $25,000 |
Leadership & Key People
Leadership team and compensation from IRS filings
- Gregory C. Demakis (Contact person)
- Thomas C. Demakis, Esq. (Trustee)
- Paul C. Demakis, Esq. (Trustee)
Contact Information:
- Address: 56 Central Avenue, Suite 201, Lynn, MA 01901-1112
- Phone: 781-595-3311
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| THOMAS C DEMAKIS ESQ | TREASURER | — | $8,000 |
| GREGORY C DEMAKIS ESQ | PRESIDENT | — | $8,000 |
| PAUL C DEMAKIS ESQ | DIRECTOR | — | $8,000 |
| THOMAS L DEMAKIS | DIRECTOR | — | $8,000 |
| JOHN N DEMAKIS | DIRECTOR | — | $8,000 |
| T PHILLIP COMENOS | DIRECTOR | — | $8,000 |
| ARTHUR KOURKOULIS | DIRECTOR | — | $8,000 |
| JOANNA DEMAKIS | DIRECTOR | — | $8,000 |
| NICHOLAS T ZERVAS | DIRECTOR | — | $2,000 |
| IRENE C DUROS | DIRECTOR | — | $8,000 |
| CHRISTOPHER SCANGAS | DIRECTOR | — | $8,000 |
Recent News & Activity
Recent developments and announcements
The foundation has supported graduate students and MBA students through fellowships and grants at academic institutions, including Johns Hopkins University and Illinois Institute of Technology. The foundation continues active grantmaking with 65 grants distributed in 2024 to organizations across its focus areas.
IIT Stuart MBA Student Receives $4K Grant from Gerondelis FoundationFrequently Asked Questions
What does Gerondelis Foundation Inc fund?
The foundation's primary purpose is giving for higher education and educational scholarships. The foundation provides scholarships to students who meet specific criteria: of at least one-fourth Greek lineage, residing or attending school in Essex County, Massachusetts, ranking in the upper 15 percent of their class or achieving a combined verbal math score of at least 1200 on the SAT I test, and officially admitted to a 4-year college or university. Beyond scholarships, the foundation supports …
How do I apply for a grant from Gerondelis Foundation Inc?
**Grant Amounts & Activity:** • Total annual giving: approximately $1.5 to $1.9 million • Typical award range: $1,000 to $340,000 • Recent grant activity shows 65 grants made in 2024 **Recent Grants (2024):** • Greek Orthodox Metropolis of Boston: $105,000 • North Shore Community Development Coalition: $75,000 • Beloved Asheville: $50,000 **Application Process:** The foundation accepts grant applications through a formal process requiring: • Formal letter request • 501(c)(3) letter • Project bu…
Where does Gerondelis Foundation Inc make grants?
The foundation primarily funds organizations in Massachusetts, with emphasis on Essex County and the Boston metropolitan area. The foundation also makes grants in Texas and Illinois, and maintains a national geographic scope.
What size grants does Gerondelis Foundation Inc award?
In 2024, Gerondelis Foundation Inc awarded 64 grants totaling $1.9M — an average of about $29K per grant, based on its IRS Form 990 filings.
How much is Gerondelis Foundation Inc required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Gerondelis Foundation Inc reported a distributable amount of $1.7M on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Gerondelis Foundation Inc's EIN?
Gerondelis Foundation Inc's EIN (Employer Identification Number) is 04-6130871. IRS Form 990 filing data is available on this page for 2020–2024.
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Data last updated June 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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