OPERATION AND FINANCIALS
1. Is the Stavros Niarchos Foundation (SNF) a not-for-profit?
Yes. The SNF has no shareholders and engages in no business or commercial activities. The SNF’s income and assets are devoted to the public benefit through its four core program areas: Arts and Culture, Education, Health and Sports, and Social Welfare.
2. Does the SNF fundraise?
The SNF is a grant-making organization only. The SNF does not solicit or accept donations from individuals, corporations or other organizations.
3. How much funding does the SNF commit every year?
There is not a specific amount of funds committed each year for grants, nor a specified number of grants that the SNF approves on an annual basis. The grants that the SNF makes, as well as the grant initiatives it undertakes yearly, are determined by the growing challenges and needs worldwide, with the aim of achieving a broad, lasting and positive impact for society at large, always within the SNF’s means, and acknowledging that the SNF complements and does not replace the efforts of the public sector.
Since 1996, and taking into consideration the SNF’s intention to further support the Health sector in Greece with a series of infrastructure and education projects, the SNF will have committed more than $2.6 billion, through more than 4,300 grants to nonprofit organizations in 124 nations around the world. The SNF does not make grants to individuals.
4. How did the SNF select the four core program areas of its grant-making?
The program areas – Arts and Culture, Education, Health and Sports, and Social Welfare – reflect the wide interests of the late Stavros Niarchos, the SNF’s founder. Within these areas the SNF works and conducts research to make sure its grant-making is aligned with societal needs and that its priorities and responses to programs are guided by those needs.
5. Are grants distributed equally among the four core program areas?
The SNF employs a holistic philosophy with respect to the core program areas and does not have a set allocation for each area. All program areas have equal weight in terms of the focus they receive from the SNF Board of Directors and staff. But the actual allocation of funding among the four areas will depend on the particular challenges and opportunities existing at a given point in time.
6. What portion of the SNF’s grants is focused on Greece and its people?
Excluding the Stavros Niarchos Foundation Cultural Center (SNFCC), the SNF’s funding is almost equally divided between grants in Greece and international ones. The SNFCC is the SNF’s largest single grant. The project's total budget of $861mil includes two grants of $6 mil each to the National Library of Greece and the Greek National Opera respectively, aiming to support the organizations’ transition to their new facilities. This support represents a significant contribution to Greece’s future, at a critical historical juncture, In addition to its standard grants, the SNF has continued to respond to the urgent needs of Greek society, by providing relief against the severe effects of the socioeconomic crisis through three major grant initiatives of $378 million, which have almost been completed. In September 2017, the SNF announced an additional grant initiative to further enhance and support Greece’s health sector. The initial budget of these new grants is expected to exceed $238 million.
7. Does the SNF support projects that combine private philanthropy with public initiatives?
Given the complexity of global issues in the SNF’s core program areas, the SNF believes that collaborations between philanthropic organizations and the public sector can be an effective means of promoting the public welfare. These public-private partnerships can leverage the available funding from both sectors, ensure that philanthropic funding is aligned with the public interest, and build upon diverse, practical experiences to test and implement innovative measures that meet community needs. Private philanthropy can never be a substitute for the public sector, but support from philanthropic organizations can be complementary to what the public sector is doing, in order to bring about results that will create a better society for all.
8. What is the relationship between the SNF and the Stavros Niarchos Foundation Cultural Center (SNFCC)?
The SNFCC is the SNF’s largest single grant. The project's total budget of $867mil includes two grants of $6 mil (€5mil) each to the National Library of Greece and the Greek National Opera respectively, aiming to support the organizations’ transition to their new facilities. The project, designed by the architectural firm Renzo Piano Building Workshop (RPBW), includes the new facilities of the National Library of Greece, and of the Greek National Opera, as well as the Stavros Niarchos Park. The SNFCC is a testament and a commitment to the country’s future. It is also an engine of short- to mid-term economic stimulus. For further information, please visit www.snfcc.org.