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
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
No grants recorded for .
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 FoundationRelated Funders
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Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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