Process and Expectations
In an effort to fulfill the purpose for the Hellenic Foundation’s inception and its Mission Statement, there is an interest to support organizations and programs that benefit Greek American and Orthodox communities of Chicagoland area, particularly its seniors and youth.
The required information for Grant consideration is outlined in the Grant Application Form. Applicants should read the following Guidelines carefully before completing and submitting the application.
Only not for profit organizations, with an Internal Revenue 501(c)(3) tax exemption designation, are eligible for funding. Hellenic Foundation will not review a Grant Application that is not submitted by a not for profit organization, with an Internal Revenue 501(c)(3) tax exemption, that does not take full legal, fiscal and administrative responsibility for the grant request. Hellenic Foundation will not consider solicitations from annual contribution drives, and does not make “pass through grants”, or grants to individuals. Hellenic Foundation has no emergency discretionary funds.
Hellenic Foundation will only consider grant requests that are submitted in writing from eligible applicants and completed in the format outlined in the Grant Application Form Instructions. Once a Grant Application has been submitted in the proper format, the Hellenic Foundation Grant Committee will send a confirmation of receipt to the applicant. The grant request will then be reviewed for consideration by the Grant Committee for approval by the Hellenic Foundation’s Board of Directors at its fall meeting. Grant Applicants may be given the opportunity to make a presentation in support of its request as outlined below.
The Grant Committee will inform the applicant of its determination in writing within 30 – 45 days, following the fall meeting date. The successful Grant Applicant will be required to sign a grant contract that outlines the terms and conditions upon which the Hellenic Foundation will fund the grant.
All grants are expected to produce clear, concrete results and a strict evaluation of each grantee will be conducted. The grant results and evaluation will determine if the grantee should be considered for future grants. At the conclusion of the grant proposal’s purpose, the grantee will be required to submit a financial accounting of all grant monies received and a written report containing a narrative account of what was accomplished by the expenditure of those funds. In addition, Hellenic Foundation may monitor and conduct a review of operations under the grant, which may include visit from Hellenic Foundation personnel to observe and discuss the program, finances and other records and materials connected with the activities financed by the grant
A grantee is required to contact the Foundation if the grantee wishes to change the terms of a grant for the following, but not limited to:
- Extensions of the grant period
- Reallocation of grant funds
- Rollover of funds from one Foundation grant into another given for the same purpose
- Transfer a grant to another organization.
The grantee shall provide a brief description and explanation of the any alteration and/or additions in excess of 10% in any budget category to the approved Budget. If staff determines that additional documentation is necessary, the grantee will be required to provide the requested documentation within a timely manner.
Grantee must obtain advanced written approval from the Foundation for any such material change.
Significant changes, such as repurposing a grant or modifying the terms of a matching grant, require staff to seek approval of the Foundation’s Board of Directors. Such requests are not routinely brought to the Board of Directors nor are they necessarily granted
Meeting Dates & Submission Schedule
Hellenic Foundation’s Board of Directors generally consider grant applications in the fall of each year with funding to commence during the next calendar year.
Grant applications, submitted and received January 1 through AUGUST 1 will be reviewed for consideration during the fall of that year. Applications received after July 1 will be returned to the applicant, to be updated and resubmitted after January 1 of the following year.
In addition to the written applications, grant applicants are given the opportunity to make oral presentations regarding their proposals. These presentations are optional, may not exceed 30 minutes in length, and may be presented by conference call or in person. Hellenic Foundation will contact grant applicants in the fall of each year to schedule the presentation.