2016-05-16T18:13:50-05:00 2015-06-30 CONDON O'MEARA MCGINTY & DONNELLY L ONE BATTERY PARK PLAZA NEW YORK NY 100041405 990 2014-07-01 135596849 TRUSTEES OF ATHENS COLLEGE IN GREECE % THE ORGANIZATION TRUS 2126977071 420 MADISON AVENUE ROOM 903 NEW YORK NY 10017 james j reilly accountant authorized 2126617777 2015-11-03 true JAMES J REILLY P00183769 2126617777 2016-05-16 2014 2016-08-17 19:52:53Z ALEXANDROS P MICHAS 420 MADISON AVENUE ROOM 903 NEW YORK NY 10017 14772050 false X athenscollege.org X 1926 NY OPERATION OF A PREP SCHOOL IN ATHENS, GREECE AND AN ELEMENTARY SCHOOL IN GREECE. 12 12 1 12 0 6700 6728 0 0 2882195 141665 255920 146635 3144815 295028 1500000 0 0 0 73525 72294 0 0 0 473179 381076 2046704 453370 1098111 -158342 14718361 14807447 183107 224220 14535254 14583227 X SUPPORT OF A PREP SCHOOL IN ATHENS, GREECE AND AN ELEMENTARY SCHOOL IN GREECE. false true SEE SCHEDULE O. true true false false false false false false false true false false false false true false true false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false true 3 0 true 1 true false false false false false false false false false false X 12 12 false false false false false false false true true false false true true true true true true false false false NY X THE ORGANIZATION 2126977071 420 MADISON AVENUE STE 903 NEW YORK NY 10017 X ALEXANDROS P MICHAS CHAIRMAN 5.0 X X 0 0 ROBERT A MCCABE VICE CHAIRMAN 5.0 X X 0 0 NICHOLAS SAKELLARIADIS TREASURER 5.0 X X 0 0 NICHOLAS G BACOPOULOS SECRETARY 5.0 X X 0 0 PETER C CANELLOS TRUSTEE 5.0 X 0 0 GEORGE S COUMANTAROS TRUSTEE 5.0 X 0 0 FRED L GLIMP TRUSTEE 5.0 X 0 0 DIMITRI GONDICAS TRUSTEE 5.0 X 0 0 ALEXANDER NEHAMAS TRUSTEE 5.0 X 0 0 PETROS K SABATACAKIS TRUSTEE 5.0 X 0 0 VASILIOS S SALAPATAS TRUSTEE 5.0 X 0 0 CHRISTOS SCLAVOUNIS TRUSTEE 5.0 X 0 0 0 0 0 false false false PILLSBURY WINTHROP SHAW PITTMAN LL 1540 broadway NEW YORK NY 10036 LEGAL 161889 SHEARMAN STERLING LLP 599 LEXINGTON AVENUE NEW YORK NY 10022 LEGAL 100000 1 6728 6728 0 312490 312490 0 0 0 0 0 14306197 14477022 -170825 -170825 -170825 0 0 0 INSURANCE PROCEEDS-REIMB. OF LEGAL COST 900099 146635 146635 146635 295028 288300 0 0 0 0 0 0 61000 61000 6000 6000 1512 1512 3782 3782 0 138885 138885 34000 34000 0 0 124297 124297 1647 1647 0 17590 17590 0 0 34333 34333 0 0 0 0 0 0 25331 25331 OTHER EXPENSES 4993 4993 453370 0 453370 0 54886 4300 882701 504549 0 0 0 0 0 0 0 0 0 0 0 0 11377 11377 0 13769397 14287221 0 0 0 0 0 0 0 0 14718361 14807447 183107 200515 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 23705 183107 224220 X 2301383 1361751 9104471 10085348 3129400 3136128 14535254 14583227 14718361 14807447 -158342 206315 X false true X true false X X X 1 ATHENS COLLEGE IN GREECE (FOREIGN ENTITY NO EIN) 000000000 2 true 0 0 1 true true false true false false false false false false false false false false false false false false PART IV Section A - Question 2 THE TRUSTEES OF ATHENS COLLEGE IN GREECE - NEW YOR OFFICE WAS CHARTERED BY THE REGENTS OF THE UNIVERSITY OF THE STATE OF NEW YORK IN 1926 TO ESTABLISH AND MAINTAIN THE HELLENIC AMERICAN EDUCATIONAL FOUNDATION ("HAEF") IN ATHENS, GREECE, A FOREIGN SUPPORTED ORGANIZATION. HAEF IS A SEPARATE EDUCATIONAL INSTITUTION IN GREECE. Section D, Question 1 The Trustees did not provide a (1) written notice describing the type and amount of support porvided during the prior fiscal year to HAEF nor a copy of the Form 990 as no programs were technically conducted during fiscal 2015 due to continuing litigation with HAEF with respect to corrporate governance. Section D, Question 2 The determination of the general policies under which HAEF shall be administered is the joint responsibility of the Board of Trustees of the Trustees of Athens College and the Board of Directors of HAEF. The Trustees and HAEF, generally speaking, work together with respect to funding decisions made by the Trustees. HAEF will provide input with respect to scholarship and faculty support, which the Trustees will review and approve on an Independent basis. In addition, the Trustees, historically, have noiminated the President of HAEF and paid the expenses of the President's office. In 2004, a joint meeting was held betweenn the Board of the Trustees and the Board of HAEF TO REITERATE THEIR COMMITMENT TO HONOUR THEIR MUTUAL JOINT RESPONSIBILITY TO THE SCHOOL UNDER THE BY-LAWS AS STATED IN 1978. BOTH PARTIES REAFFIRMED THEIR COMMON VISION FOR ATHENS COLLEGE REGARDING AN EDUCATIONAL POLICY THAT STANDS FOR EXCELLENCE, A SYSTEM OF ADMISSIONS AND STAFF EVALUATION BASED ON MERITOCRACY, A CURRICULUM THAT REFLECTS THE BICULTURAL HERITAGE OF THE SCHOOL AND THE ENDURING VALUES AND ETHOS EMBODIED IN THE TRADITIONS OF BOTH GREECE AND THE U.S. IT WAS UNDERSTOOD THAT THE SELECTION OF THE PRESIDENT OF HAEF BY THE TRUSTEES WAS THE CARDINAL DECISION THROUGH WHICH THE TRUSTEES EXCERCISES ITS FIDUCIARY DUTY. IT WAS DECIDED THAT AN ANNUAL JOINT MEETINGS OF THE BOARDS OF THE TRUSTEES AND HAEF WOULD TAKE PLACE IN ATHENS AND NEW YORK ALTERNATIVELY. DURING SUCH MEETINGS THE BOARDS WOULD DISCUSS THE FINANCIAL CONDITIONS AND BUDGET OF BOTH INSTITUTIONS AND THE EDUCATIONAL ADMINISTRATIVE AND FINANCIAL GOALS OF THE UPCOMING 12 MONTHS, MAONG OTHER THINGS. SECTION E - While NO PROGRAMS WERE technically CONDUCTED BY THE TRUSTEES OF ATHENS COLLEGE IN GREECE DURING FISCAL YEAR 2015 DUE TO CONTINUING LITIGATION WITH HAEF WITH RESPECT TO CORPORATE GOVERNANCE, in fiscal 2014 $1.5 million OF SUPPORT was provided by the Trustees to HAEF to fund scholarships during the pendancy of the litigation, WHICH UNFORTUNATELY HAS CONTINUED THROUGHOUT FISCAL 2015. Customarily, the trustees provide several hundreds of thousands of dollars of support to HAEF ON AN ANNUAL BASIS FOR SUPPORT OF BOTH THE PRESIDENTS OFFICE AS WELL AS STUDENT SCHOLARSHIP AND FACULTY SUPPORT. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 19235700 6728 173900 19416328 20175370 6700 -946370 19235700 18859565 6800 1309005 20175370 19116387 -256822 18859565 17248445 8040 1894902 35000 19116387 0.31900 0.16200 0.51900 false false 0 FISCAL AGENT TRANSACTION 23705 23705 230411 206315 206315 24096 124297 146635 270932 295028 182438 182438 124297 146635 270932 453370 PART V - LINE 4 THE ENDOWMENT FUNDS WERE ESTABLISHED TO AID ATHENS COLLEGE STUDENTS AND FACULTY, BOTH IN GREECE AND IN THE UNITED STATES, TO FUND AN OFFICE IN THE UNITED STATES AND THE PRESIDENT'S OFFICE IN GREECE AS WELL AS FOR OTHER GENERAL ADMINISTRATIVE PURPOSES. THE ENDOWMENT FUNDS CONSIST OF BOTH DONOR AND BOARD-RESTRICTED ENDOWMENT FUNDS. AS REQUIRED BY GENERALLY ACCEPTED ACCOUNTING PRINCIPLES IN THE UNITED STATES OF AMERICA, NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED RESTRICTIONS. THE INVESTMENT GOAL FOR THE ENDOWMENT FUNDS ARE TO PROVIDE A SECURE AND DEPENDABLE INVESTMENT RETURN FOR APPROPRIATION TO OPERATIONS, PROTECT THE HISTORIC DOLLAR VALUE OF THE FUNDS AND PROVIDE SUFFICIENT LIQUIDITY TO ACCOMMODATE FORSEEABLE APPROPRIATIONS. PART XI - LINE 4B gross-up of INSURANCE PROCEEDS: 146,635. PART XII - LINE 4B gross-up of legal fees: 146,635. PART III - LINE 3 While NO PROGRAMS WERE technically CONDUCTED BY THE TRUSTEES OF ATHENS COLLEGE IN GREECE DURING FISCAL YEAR 2015 DUE TO CONTINUING LITIGATION WITH THE HELLENIC AMERICAN EDUCATIONAL FOUNDATION ("HAEF") WITH RESPECT TO CORPORATE GOVERNANCE, in fiscal 2014 $1.5 million was provided by the Trustees to HAEF to fund scholarships during the pendancy of the litigation. PART VI, SECTION B - QUESTION 11B BOARD MEMBERS are provided A DRAFT OF THE FORM 990 via email FOR REVIEW prior TO FILING with the internal revenue service. PART VI, SECTION B - QUESTION 12C THE ORGANIZATION HAS A FORMAL CONFLICT OF INTEREST POLICY WHICH BOARD MEMBERS ARE REQUIRED TO SIGN ANNUALLy. PART VI, SECTION C - QUESTION 19 THE ORGANIZATION DOES NOT MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY OR FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. Part XII THE FINANCIAL STATEMENTS OF the Trustees ARE PRESENTLY BEING AUDITED BY A CERTIFIED PUBLIC ACCOUNTING FIRM; however THE AUDIT OF THE BOOKS AND RECORDS OF THE Trustees IS NOT YET COMPLETE. THEREFORE, THE INFORMATION CONTAINED HEREON MAY CHANGE UPON THE COMPLETION OF THE AUDIT.