FAQ

What is the Greek Orthodox Metropolis of Chicago Foundation?

The Foundation is an independent 501(c)(3) nonprofit corporation separate from the Metropolis of Chicago with its own board of directors, financial accounts, and governance structure. The Foundation was approved by Clergy-Laity Assembly delegates in 2019 and incorporated in May 2022.  

Why was the Foundation formed?

The Foundation was formed to provide long-term financial support to the Metropolis over generations. The Foundation was approved in part out of a strategic goal to build assets for the long-term stability, vibrancy, and growth of the Church in the Midwest.

How is the Foundation structured?

The Foundation is a nonprofit endowment fund which exists to raise a pool of money, or principal, that is invested to generate income for the Metropolis, while keeping the principal intact. The Foundation has developed well-defined bylaws and policies that spell out how we govern ourselves, how endowment assets are invested, and how distributions are made to the Metropolis. By setting aside funds through an endowment structure, the Metropolis will benefit through long-term financial stability as well as regular income streams to meet its needs, especially during uncertain economic times.

What is the Foundation’s overarching purpose?

The Foundation’s purpose is to provide long-term funding to the Metropolis of Chicago to support the Metropolis’s mission and vision. Examples of the Metropolis’ initiatives include: clergy leadership and development (e.g., Higher Calling), ministries and programs (e.g., Project HOPE, Fanari Camp), Metropolis affiliated organizations (e.g., St. Iakovos Retreat Center, Philoptochos); and special parish needs (e.g., capital projects), among others.

How is the Foundation governed?

The Foundation is governed by a board of directors comprised of seven individuals with significant financial, wealth management, legal, and/or business experience, and who are stewards of a parish within the Greek Orthodox Archdiocese. Three members are selected through an independent selection process; two members are selected and approved by the Metropolis Council; and one member is appointed by His Eminence Metropolitan Nathanael of Chicago. The Metropolitan is the Chairman of the board. Terms of initial board members are staggered between 1-3 years and successor terms are 3 years. Board members serve without compensation.

How is the Foundation different from the Metropolis of Chicago?

The Metropolis is a bishopric of the Archdiocese of America and of the Ecumenical Patriarchate. The Foundation is a separate, nonprofit entity that exists to provide long-term financial support to the Metropolis.

How can I support the Foundation?

The Foundation welcomes conversations from individuals thinking seriously about their legacies and seeking to make a transformational impact on the Church. All inquiries should be directed to Vicki Pappas Karl, the Foundation Executive Director at vkarl@gomocfoundation.org.