The Stavros Niarchos Foundation Announces the Second Installment of $130/100 Million Euro Initiative

ATHENS, Greece, Feb. 15, 2012 /PRNewswire/ -- In line with its decision on January 23, 2012 to commit $130/100 million euro to help alleviate the severe consequences of the developing crisis in Greece, the Stavros Niarchos Foundation's Board of Directors today approved grants totaling $12.1/9.2 million euro towards a number of not-for-profit organizations around the country.  The grants are the second installment and part of the 100 million euro initiative, following the earlier announcement of grants supporting the Social Housing Program and the operation of Day Centers for the homeless (PRAKSIS), and Food Aid support for families and other organizations (Artos-Drasi). The Foundation is also in the process of evaluating a subsequent number of additional grants totaling approximately $15.2/11.5 million euro. 

Today's decision underscores the Foundation's firm belief that the crisis has reached such dimensions that immediate action and relief are critical and essential. The second installment of funds will be made available to 16 organizations for social welfare, health and medicine and educational programs.

Following is a listing under respective program area:

Social Welfare

• Amymoni
• Association of Social Responsibility for Children and Youth – SKEP
• Estia
• Food Bank Greece
• Life Line
• Mundo en Armonia (Greece)
• Network for Children's Rights
• Omada Aigaiou
• Pankritios Association of Parents and Friends of Children with Neoplasia "Iliaktida"
• Praksis
• Social Work Foundation
• SOS Villages

Health & Medicine

• High Dependency Unit and Nephrology Clinic in "Aglaia Kyriakou" Children's Hospital in Athens
• Merimna
• Pediatric Trauma Care Unit in "Aglaia Kyriakou" Children's Hospital in Athens

Education

• Museum of Greek Children's Art

In addition to these organizations, the Foundation is spearheading several initiatives as part of this round of grant making, including a food aid program for schools intended to assist approximately 3,000 students; installation of photovoltaic panels on buildings hosting non-profit organizations aiming to save energy and consequently reduce operating expenses; and a program aiming to assist approximately 100 schools throughout the country, in upgrading their Information Technology (IT) infrastructure capacity.

In announcing the $130/100 million euro commitment last month, the Foundation had expressed its hope to inspire others to partake in this initiative. It is with a great sense of appreciation and hope that others will follow too, that the Foundation acknowledges that an individual, who wishes to remain anonymous, has declared his intention to donate an additional $270,000/205,000 euro in total to support a number of the above mentioned organizations.

The Stavros Niarchos Foundation (www.SNF.org) is one of the world's leading international philanthropic organizations, making grants in the areas of arts and culture, education, health and medicine, and social welfare. The Foundation funds organizations and projects that exhibit strong leadership and sound management and are expected to achieve a broad, lasting and positive social impact. The Foundation also seeks actively to support projects that facilitate the formation of public-private partnerships as effective means for serving public welfare.

From 1996 until today, the Stavros Niarchos Foundation has approved grant commitments of euro 948 million/$1.242 billion, through 2,115 grants to nonprofit organizations in 102 nations around the world. Out of the Foundation's total grant commitments, 79% of funds have been directed to organizations and initiatives in Greece, through 1,013 grants.

The Foundation's largest single gift (euro 566/$790 million) is the Stavros Niarchos Foundation Cultural Center (SNFCC), in Athens. The project is approaching the beginning of the construction phase, with excavation works already in progress at the site. The Stavros Niarchos Foundation firmly believes that the project is of national importance, even more so under the current socio-economic conditions. It remains a testament and a commitment to the country's future, at a critical historical juncture. It is also an engine of short- to mid-term economic stimulus, which is essential under the current circumstances.

SOURCE Stavros Niarchos Foundation