Stavros Niarchos Foundation Releases Deloitte Report on Impact of Three-Year $130 Million (EUR 100 Million) Initiative Against the Greek Crisis

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ATHENS, Greece, Feb. 24, 2015 /PRNewswire/ -- The Stavros Niarchos Foundation (SNF) today announced the results of Deloitte's analysis of the Initiative Against the Greek Crisis, a three-year, $130 million (€100 million) grant program funded by the Foundation, announced in early 2012, in order to help alleviate the adverse effects of the socioeconomic crisis in Greece. The report analyzed the grants made through the Initiative and assessed their overall impact on society at large.

The philanthropic program's support was distributed through more than 220 grants to nonprofit organizations over a period of almost three years. Ninety percent of the funding was allocated to social welfare and health programs, while the remaining 10% was distributed to education and arts and culture programs.

About 80% of the grants were directed towards combating social exclusion, supporting overburdened households and providing food aid to underprivileged social groups. Equally important, the philanthropic Initiative supported the preservation of health standards through emergency, relief and healthcare services, offered employment services and provided temporary accommodation and housing. It also provided access to educational and cultural programs for underprivileged groups. The majority of the grants were distributed in Attica and Central Macedonia, where most Greeks live, but the program served all regions of the country.

More than 470,000 people benefited from the grant program, including the following: Children and Youth (individuals from 5 to 25 years old in a vulnerable situation); Adults (vulnerable individuals older than 25); Elders (senior citizens either in a vulnerable socioeconomic situation or having reached an age that makes them vulnerable); Families and Caregivers (households and families below the poverty level or from other vulnerable groups); Immigrants and Refugees (foreign individuals seeking asylum or having a limited residence permit); People with Special Needs/Disabilities (individuals with severe mental or physical disabilities that make them vulnerable or socially excluded or in need of healthcare services); People with Chronic Diseases or Addictions (individuals who suffer from chronic or terminal diseases, substance addictions and may be in need of healthcare services).

The SNF funding created or sustained 3,000 jobs and had an economic impact more than double (2.23) the amount of the grants. In addition, the philanthropic Initiative helped grantee organizations leverage additional support from other donors. On a scale of 1 to 10, grant recipients rated at 7.2 the boost that SNF funding provided in helping them to attract additional philanthropic support. More than 90% of the Initiative's grants were reported to have contributed to ensuring the grantee organizations' financial viability.

While the Initiative against the Greek Crisis has come to a close, the Foundation continues its grant-making activities in the fields of Social Welfare, Health & Sports, Education and Arts & Culture, while simultaneously focusing its attention on a new philanthropic initiative entitled Recharging the Youth, a program also totaling $130 million (€100 million), which is aimed at combating the alarmingly high youth unemployment rate in Greece.

About the Stavros Niarchos Foundation

The Stavros Niarchos Foundation (www.SNF.org) is one of the world's leading private international philanthropic organizations, making grants in the areas of arts and culture, education, health and sports, and social welfare.

From 1996 until today, the Stavros Niarchos Foundation has approved grant commitments of $1.57 billion / €1.20 billion, through 2,823 grants to nonprofit organizations in 111 nations around the world.

SOURCE Stavros Niarchos Foundation

Related Links

http://www.SNF.org