The Hellenic Chronicle - February 3, 1999
Leadership 100 is established as a separate corporation
NEW YORK — The Archbishop Iakovos Leadership 100 Endowment Fund Incorporated recently announced the completion of the transfer of the Endowment Fund's assets from the Greek Orthodox Archdiocese of America to the newly formed corporation.
Originally established as a restricted Endowment Fund of the Greek Orthodox Archdiocese of North and South America, Leadership 100 has realized the goal of its founding members and formally established itself as a separate New York non-profit corporation recognized by the Internal Revenue Service as a 501(c)3 organization.
Leadership 100 was established in 1984 under the direction of Archbishop Iakovos. Leadership 100 members commit themselves to offer $100,000 to the Endowment Fund in order to maintain and enhance the National Ministries of our Church. The initial goal of 100 members was soon surpassed and a new goal of 500 members was set in 1986.
The purpose of Leadership 100 is to provide grants to seed and nurture programs under the National Ministries of the Archdiocese which advance Orthodoxy and the Hellenic heritages. The Endowment Fund's assets are professionally managed and operated on a fully disclosed basis as to its investment and uses of funds. The principal of the Endowment Fund remains restricted, irrevocably and inviolate and the distributable net income of the Fund is to be used for grants to the National Ministries of the Church. During its 15 years of operation, the Endowment Fund has grown to almost $40 Million and has given grants in excess of $3.6 Million.
In a letter to Leadership 100 members announcing the transfer, Mr. George Kokalis, Chairman of Leadership 100 commented: "Although we have realized our goal of a separate corporation, our work is just beginning. We must now focus all of our efforts on the continued growth of Leadership 100! Now is the time for us to reach out to new faithful Orthodox Christians and increase Leadership 100's participation... It is only with your help that we will realize our dream and make Leadership 100 the driving force that it must be for the next millennium."
In a separate letter to Archbishop Spyridon, Kokalis also personally thanked the Archbishop for his assistance and the support of the Executive Committee of the Archdiocese Council with the establishment of the new corporation.
Leadership 100 will convene its first meeting of the Executive committee and Board of Trustees, under the new corporate structure, on January 29-30, 1999 in Phoenix, Arizona. A primary objective of this meeting is to discuss the search for a clergyman to take the position as the Executive Director for the Endowment Fund. Additionally, Leadership 100 will finalize plans for its annual conference, which will be held in San Francisco, CA. on April 21-25.
[ The Hellenic Chronicle - February 3, 1999 - p. 5 ]