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Gracious donation by Vassilis Katsos and Nelly Katsou

Vassilis Katsos (PIERCE ’91), President of PHARMATHEN and Nelly Katsou (PIERCE ’83) Vice President of the Board & Managing Director, have graciously established an expendable scholarship fund that will support the educational priorities of The American College of Greece. This gift will provide two half tuition scholarships and will be awarded to high-performing PIERCE students in need of financial assistance.

“Establishing a scholarship to help students is an investment in the future that will profit everyone”, says Mr. Katsos. "I can think of no greater gift.”

Mr. Katsos, who was named “Entrepreneur Of The Year” by Ernst & Young  in 2008 and represented Greece in the international competition “World Entrepreneur Of The Year” in Μonte Carlo in 2009, was born in Athens and heads one of Greece's leading pharmaceutical companies, PHARMATHEN, with a dynamic presence abroad.

He graduated from PIERCE in 1991, and studied at the University of Athens, School of Pharmacy. In 1993, he and his sister Nelly Katsou (PIERCE ‘83), Managing Director and Vice President took over the reins of the family company, strategically restructuring PHARMATHEN, first strengthening the company’s presence in the Greek market, and then enhancing its international presence. Today, PHARMATHEN is one of the largest generic development companies in Europe, with exports to 85 countries worldwide.

"Scholarship support is an essential part of the College’s mission and enables ACG to provide educational opportunities to talented students who need assistance in meeting the cost of a high quality education," said ACG President David G. Horner on the occasion of Mr Katsos' Gift.

"We are grateful to the many alumni, friends, corporations and foundations who are stepping forward to provide scholarship support," ACG's Vice President of Development George Triantaris noted, adding "we hope that the scholarship established by Mr. Katsos and PHARMATHEN will inspire others to participate in this important endeavor."

In his keynote speech at the 2013 PIERCE Commencement on July 3, Mr. Katsos told graduates that he is "proud to be a graduate of The American College of Greece," and urged them to think differently, "outside the box," to  "work with passion," underlining that whatever they do, they should do it with a sense of professionalism, while also advising them to set their own limits – not those that other people set for them. Mr. Katsos recounted how years ago, when he told people in the pharmaceutical industry that he wanted to export Greek drugs abroad, they told him he was a dreamer.  This only fueled his desire to be successful. He advised graduates to never stop chasing their dreams, and "don't be afraid to dare," underlining that today’s market "thirsts for innovation, thirsts for freshness." Mr. Katsos concluded his speech with: “Class of 2013, the world is out there. Make us proud!”

For more information about scholarships offered by PIERCE College, please visit:  or contact the Financial Assistance and Planning Office Tel.: +30 210 6009800 ext. 1327 | [email protected]

To learn about ways to create your own scholarship fund at ACG or to contribute to existing funds please contact the Office of Development & Alumni Relations:

George E. Triantaris, Vice President – t. + 1.617.459.2829, [email protected]

Mary-Irene Triantafillou, Executive Director, ACG Office of Development- t. 210.600.9800, ext.: 1239, [email protected]

December 2013

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Frances Rich

In October 2012, The American College of Greece received the largest gift in its 137 history from renowned artist Frances Rich (1910-2007).  Rich’s gift, made through her estate, has been allocated to an endowed fund in her name to support ACG’s School of Fine and Performing Arts.  To date the College has received almost $2 million from Ms. Rich’s estate as well as numerous works of art by Rich and others.  The School of Fine and Performing Arts will be named in her honor.

Frances Rich had a passion for the arts and especially sculpture which spanned her long lifetime and likely inspired her interest in Greece.  Her friendship with Korlia Krokodilou, the beloved PIERCE dean of students whom she met in Massachusetts in 1947, began her relationship with The American College of Greece.  Her first visit to Greece occurred in 1958 when she accompanied her friend, the famous actress Katherine Hepburn on a trip to Athens.  In 1970 Rich’s well known sculpture The Mount Hymettus Saint Francis of Assisi was installed on the ACG campus in Krokodilou’s honor.  In addition to being an artist herself, Ms. Rich was associated with many of the leading artists of the 20thcentury including Malvina Hoffmann, Diego Rivera, and Carl Milles.

The Frances L. Rich Endowed Fund will generate permanent annual financial support for all aspects of the School of Fine and Performing Arts and will provide invaluable assistance as the School expands.  Launched officially in 2011, the School specializes in Visual Arts, Music, and Theater Arts.

Commenting on the importance of the Rich gift, President David G. Horner said “great colleges and universities rely on investments from alumni and friends to innovate, grow, improve and advance.   Frances Rich’s gift to ACG is a testament to the value of our College and the education it provides to talented students.  Her decision to support the arts will have an impact on our students and art in Greece for generations to come.”

ACG is tremendously grateful to Frances Rich for her commitment to the future of the College and to the arts.

George E. Triantaris, Vice President – tel. + 1.617.459.2829, [email protected]
Mary-Irene Triantafillou, Executive Director – tel. 210.600.9800, ext.: 1239, [email protected]

November 2013


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Elina Yiannopoulou Harper P ’61


The six years I spent at Pierce College were the most magical, enriching, and important years of my youth. My school was made for me and I was made for it. Pierce empowered me to respect education, to continuously seek intellectual development and to understand the blending of the arts and science. Perhaps above all, I learned to respect the dignity of man and the importance of service to others.


Introspection is not a hallmark of youth and the full realization of how much was given to us during our years at Pierce, did not come to be until many years later.  Our school's creed as inscribed over the entrance of Pierce Hall at Helleniko, "NON MINSTRARI SED MINISTRARE", has been my quiet companion over my mature years. Relevant when first adopted by the brave missionaries back in Smyrna, it remains so today in our fast changing world. Advanced degrees, high powered positions in the realms of government, science, technology, and research can easily become insignificant achievements if they do not adhere to the goal of serving others.


All of us have contributed to our world in our way. Some of us quietly raised our children to become mindful and responsible citizens, others became leaders in science, the arts, and social sciences. I believe it is imperative to support and enable our school to carry on its legacy.


Do stay connected with our beloved school, not only in spirit but also attending alumni functions and contributing to the scholarship fund.

Please, do not underestimate the power and significance of any contribution you can make even if it is “small”.  Yes, we all can help build the Pierce Scholarship Fund by taking small steady steps (fasouli to fasouli yemizi to sakouli!)  We don't want to miss educating anyone who could belong to the next generation of leaders and become goodwill ambassadors to the world. Greece (and the world) needs well- educated, compassionate, energetic and committed young people who will not only help our own country but also reach to the far corners of the world. The infinite wisdom of our school creed, "NON MINISTRARI SED MINISTRARE", speaks for itself.

Elina Yiannopoulou-Harper lives in Bend, Oregon in the United States. After graduating from PIERCE she went on to earn her college degree at DEREE and later became an operating room nurse. Mrs. Harper attended the Helliniko reunion in 2011 and was inspired to become more involved with her alma mater and to make a gift in support of the PIERCE scholarship fund.

For more information about scholarships offered by ACG, please visit: or contact the Financial Assistance and Planning Office Tel.: +30 210 6009800, ext. 1327 | [email protected]

To learn how you can join Mrs. Harper in supporting needy and deserving students by creating your own scholarship fund at ACG or by contributing to existing funds please contact the Office of Development:

George E. Triantaris, Vice President – t. + 1.617.459.2829, [email protected]
Mary-Irene Triantafillou, Executive Director – t. 210.600.9800, ext.: 1239, [email protected]

October 2013

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Anonymous Donor Establishes Endowed Scholarship

Last June the trustees of The American College of Greece voted unanimously to vastly increase the resources available for financial aid to students in the areas of need based grants, scholarships, study abroad, internships and work study over the next four years. This decision will result in annual expenditures of almost 6,000,000 euros by the 2015 – 2016 academic year (as compared with approximately 1,000,000 Euro in 2011 – 2012).  This investment is a crucial step in addressing the financial impact of the crisis on families and in ensuring that access to the College and its programs continues to be available to a financially and geometrically diverse cross section of talented and promising students, as has been the tradition of the College since its founding in 1875.  In order to meet this commitment, the College will contribute 50% of the required funds from its own reserve assets and raise the balance from generous alumni, foundations, corporations and friends.

Last month, a generous friend of the College, long committed to the success of PIERCE, established an endowed scholarship fund that will provide ½ tuition awards to high performing but financially challenged students.  This endowed fund, the first to be established as part of the trustee endorsed scholarship effort, will be permanently invested with other assets of the College and the income will provide grants in perpetuity. 

ACG President David G. Horner remarked “we are tremendously grateful to the donor of this fund and hope it will serve as an example for other alumni and friends who wish to support students. ACG has a long history of assisting students seeking to achieve a quality education that dates back to the College’s early days in Smyrna.  This tradition continued after the College relocated to Athens. In fact in the years before and after World War II as many as 40% of students received aid. I am very pleased the trustees have revived this important commitment, especially at this difficult time in Greece.” 

Vice President of Development George Triantaris noted “the donor was interested in finding a way to provide permanent support to PIERCE students.  Setting up an endowed fund was the perfect solution.  We are thrilled the donor chose to partner with ACG to make an impact on the education of young people in Greece.”

For more information about scholarships offered by PIERCE College, please visit:  or contact the Financial Assistance and Planning Office Tel.: +30 210 6009800, ext. 1327 | [email protected]

To learn about ways to create your own scholarship fund at ACG or to contribute to existing funds please contact the Office of Development:

George E. Triantaris, Vice President – t. + 1.617.459.2829, [email protected]
Mary-Irene Triantafillou, Executive Director – t. 210.600.9800, ext.: 1239, [email protected]

September 2013

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N.DEMOS Foundation Scholarship

For more than 40 years, The N. Demos Foundation, founded by a Chicago based Greek American philanthropist, has funded scholarships that provide extraordinary academic opportunities to outstanding, talented and deserving DEREE students.

Since 1968, the Chicago based N. Demos Foundation has inspired the entire community by making generous gifts to The American College of Greece primarily directed to offering educational opportunities to deserving Greek students of limited financial resources.  

The Foundation was founded by N. Demos whose origins were from the Village of Tarsina, in Corinth, Greece. N. Demos moved to the United States and became a successful businessman. His great wish was to form a Greek organization similar to the Boys Town of America. Unfortunately, he became ill and passed away before his dream became a reality. As a result, the N. Demos Foundation began to donate funds to support charities that already existed in Greece to further his cause.

In 2000 and again in 2001 the Foundation established two permanent endowed scholarship funds at DEREE, one of which is designated for communications majors and the other one is open to all students. The gifts to establish these endowed funds are permanently managed and invested by the College and a percentage (typically 4%) is spent each year for student awards.   

The N. Demos Foundation Scholarships have been awarded to 19 students since they were established. On behalf of these students and the College administration and faculty we are sincerely grateful to the Foundation for its outstanding support over many years. The following comments from several of these students underscore this gratitude.

demos scholarship recipient 01


Philip Doros Keranis (June 2012 Graduate), Recipient of the N. Demos Foundation Scholarship for Communication Studies, Academic Year 2011-2012

“Selecting me as the recipient of the N. Demos Foundation Scholarship for Communication Studies was an honor that brought happiness followed by a number of positive feelings as well as demanding expectations that I gladly met during my academic journey at The American College of Greece. This particular gift was not merely a financial support. It stands as an act of unconditional help given to me at a time of crisis. It stands as the additional incentive needed in my continuous effort for expanding my knowledge, values and ideals through which I can

evolve and flourish in the post graduate life and the competitive environment of tomorrow. Finally it is my deepest desire to give back a "Thank You" for the long standing support that you have given me and for enabling me to spread my wings freely towards a bright and promising future.”

Konstantinos Margaritis (Junior – Economics Major), Recipient of the N. Demos Foundation Scholarship, Academic Year 2011-2012

I would like to thank you for the chance you gave me to continue my studies. I come from a single parent family and I am forced to work on nights in order to be able to attend College. The N. Demos Foundation Scholarship gave me the chance to breath (based on all the financial problems I am facing). I thank you deeply and I will not forget the good you've done.

            demos scholarship recipient 02

For more information about the N. Demos Foundation Scholarship and the N. Demos Foundation Scholarship for Communication Studies, please visit:  or contact the Financial Assistance and Planning Office, tel.: +30 210 6009800, ext. 1327 | [email protected]

If you are interested in learning about ways to create your own scholarship fund at ACG or to contribute to existing funds please contact the Office of Development:

George E. Triantaris, Vice President – tel. + 1.617.459.2829, [email protected]
Mary-Irene Triantafillou, Executive Director – tel. 210.600.9800, ext.: 1239, [email protected]

July 2013

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LIBRA group parthners with ACG

ACG Celebrates Launch of Innovative Internship Program that Places Students Around the World

On June 1st ACG celebrated the innovative LIBRA Internship program through which DEREE students spend up to a year abroad on a specially designed internship at one of the Libra subsidiaries and a semester at a partner school in the US or the UK.

George Logothetis, Chairman and CEO of the Libra Group, and the inspiration behind the newly created Libra Internship Program at The American College of Greece, visited the Aghia Paraskevi campus to address students, alumni, faculty and staff about the origins of the program. Mr. Logothetis' remarks explaining the reasons he and his family established the program and his call to others in a position to help to act on behalf of Greece and Greek youth were inspirational.

Mr. Logothetis pointed out that "everyone has a duty to help; helping is actually doing things, and we all have a duty to help, however we can." This belief in helping others has resulted in a program that provides transformational experiences for ACG students, the impact of which will be felt for many years to come.

In a special citation, ACG President David G. Horner thanked Mr. Logothetis for his belief in the College and support of its students.

Guests also learned how the program operates, viewed video testimonials from some of the 10 students on assignment around the world, and met the 2013 interns.

June 2013


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Two Permanently Endowed Scholarship Funds, Established at Deree by Prominent Greek Business Woman Mrs. Ioanna Arvanitis

Students from the Northern Peloponnese regions of Aigialeia and Kalavryta are the primary beneficiaries of a new scholarship program at Deree – The American College of Greece that will provide full tuition scholarships for qualified students, financed through a generous gift by prominent Greek business woman Mrs. Ioanna Arvanitis.

Arvanitis’ gift, which established the “Constantinos and Anneta Arvanitis Scholarships”, is one of the most significant in the recent history of The American College of Greece, a non-profit educational institution. According to President David G. Horner “these scholarships will greatly improve our ability to attract and educate talented students with limited means from these regions and we are deeply grateful to Mrs. Arvanitis for this very generous gift.”

The gift comes at a time of great distress in Greek society, when more and more students require financial aid in order to acquire a quality education. Vice President of Development George Triantaris applauds Mrs. Arvanitis’ foresight in making this gift, “since the College’s founding in 1875 alumni and friends from Greece and abroad have provided essential support that enabled countless students to achieve an education that would not otherwise have been possible. This gift furthers a tradition that we need to expand.”

In an interview, Mrs. Arvanitis made it clear that her gift – named in honor of her parents Constantinos and Anneta – was born of her conviction that “we exist in this world so that we can be useful – and we do things because they are worth doing and not because we will gather praise for doing them.”

Of course, noble causes abound, especially at a time of crisis, but Mrs. Arvanitis said that she chose to help educate young people because she shares her late father’s conviction that education is the only means to elevate people.

Mrs. Arvanitis came to know DEREE better when her son, George Karaouzas – Arvanitis, enrolled at the College. He graduated in 2010 with a B.Sc. in management and continued on with his studies at Parsons, The New School for Design in New York City. His proud mother declares herself a believer in the American model of higher education followed by DEREE: “I truly believe that the American system fits best with the Greek temperament” she says. By sending her son to DEREE, she wanted him to “do what he really wanted and what suited him best, in an environment that would not disappoint him or make him feel that the only thing that will make him happy would be a diploma rather than the knowledge and the experience that go with it.”

As Greece continues to be shaken by an economic crisis unprecedented in its modern history, education may be the best long-term solution to the country’s ills. Let’s face it, Mrs. Arvanitis said, “Greece is a country where seriousness of purpose and prudence did not have pride of place; we must get serious and we must teach our kids to become thinking citizens. This we will achieve only through better education.”

In order to qualify for one of the Arvanitis scholarships, candidates from the regions of Aigialeia and Kalavryta must meet criteria that indicate financial need and the ability to be successful DEREE students.

May 2013


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A debt repaid


Ourania Veneti graduated from Pierce – The American College of Greece in 1945, and for decades she had no contact with the school. After 15 years of study and work in the U.S. she returned to Greece in 1964 where the requirements of everyday life, kept a visit to her alma mater in the vague sphere of future plans.

Meanwhile, the school moved from its idyllic seaside campus in Helleniko to its present mountainside location in Aghia Paraskevi; a move that provided new facilities and the opportunity for future growth, but inevitably diminished the emotional impact of a visit in the eyes of the Helleniko graduates.

For Ms. Veneti, the separation lasted until June 30, 2011, when the College organized a large and moving reunion for its Helleniko graduates at their beloved campus (which now houses Greece’s Civil Aviation Authority). When Ms. Veneti returned to the locus of her teenage dreams, her affection for the College was restored.

Soon after, Ourania Veneti crossed the gate of the Aghia Paraskevi campus, visited the Office of Development and gifted $10,000 – a significant part of her pension income – in support of Pierce students. Her goal is to keep supporting students for as long as circumstances allow her, she said.

Ms. Veneti told ACG staff that her gift signified more than a reunion with her school. It was the fulfillment of a debt she owed Pierce.

“I studied at Pierce during the Nazi occupation with a full tuition scholarship. I regard the help I received during those difficult years as a loan, and today I decided to repay at least a part of it.”

As she spoke, memories came flooding back: classes held in the homes of dedicated teachers; hungry kids on Plastiras Square digging through garbage for a few scraps of food “looking like 100-year-olds”; the feeling of freedom in a school that never imposed ideological preferences on its students; Antigone or Oedipus with Mr. Pararas…

For Ms. Veneti, Pierce was the key to a vault of moral and spiritual values.

During a moving meeting that took place in late March with the three Pierce students who are benefiting from her scholarship support, Ms. Veneti encouraged the students to persevere despite all current difficulties, reminding them that her generation, too, went through immense travails – war, occupation, abject poverty – but that thirst for life and knowledge triumphed over time, as they inevitably do.

She also urged the students to draw life lessons from their school and the values it represents. These values, she said, have been her guide ever since she stepped foot in a Pierce classroom in Nazi-occupied Athens.

“Sas efharisto!” (thank you!) she kept telling the three students, as if she were the greatest beneficiary of her own generosity.


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Propeller Club scholarships support Business students

“The Propeller Club, a prominent merchant marine association, funds scholarships to enable talented and deserving business students achieve an education at DEREE College.”

Since 1990, The American College of Greece has been the recipient of generous gifts from the Greek chapter of the International Propeller Club of the United States, based in Piraeus, for the purpose of supporting business students. In 2012 the Club designated a portion of these funds for an endowed fund at ACG that will provide annual scholarship awards to deserving students. The College will permanently manage these funds and part of the income will be used annually to support students who have excelled in the School of Business Administration. This fund will be known as the "Propeller Club Endowed Scholarship Fund". The first scholarship award will be made in the 2012 – 2013 academic year.

In addition to the endowed scholarship, the Propeller Club furthers the mission and vision of The American College of Greece by making annual awards to a qualified School of Business Administration student who is both in need and from a seaman’s family or from a family in which one of the parents works for a shipping company. This award is given during the Club’s annual Pitta Cutting Ceremony in the presence of The American Ambassador to Greece (who has traditionally been the Honorary President of the Club), C.E.O.s and top executives of Greek and multi-national firms in Greece, prominent Greek businessmen and professionals engaged in the maritime industry, ministers, members of the Parliament, government officials and senior foreign diplomats. The Propeller Award has been a driving force for a number of DEREE students and has allowed them to achieve an education that has been the cornerstone of their later career successes.

ACG President David G. Horner commented: “The American College of Greece is very grateful for this relationship and for the support provided by the Propeller Club to our students. Scholarships are essential to the College’s ability to ensure that talented students are afforded the opportunity to attain a quality education. Philanthropy has been an important part of the mission of the College since its founding in 1875. We hope other alumni and friends of the College will follow the generous example set by the Propeller Club.”

Sotiris Poulimenos, Recipient of the Propeller Award, Academic Year 2011-2012
“In difficult times having true friends to stand by you is of utmost importance. Through the Grants and Scholarships programs the American College of Greece and its generous donors, helped me pursue a better future that would have otherwise remained an unfulfilled dream.”

The International Propeller Club of the United States, is a non-profit organization founded in 1922, by professionals engaged in the merchant marine industry who gather frequently to discuss common issues and the future of shipping.

The Propeller Club strives to promote and further the American merchant marine industry and international shipping in general.

"Propeller" refers to the propulsion of ships, and is symbolic of the driving force required to achieve the Club's objectives.

Today there is a Propeller Club in almost every sea and inland port in the United States, as well as in 33 cities throughout the world, among them The International Propeller Club of the United States, Port of Piraeus whose objective is to:

  • Actively provide a forum for the exchange of views and promotion of goodwill, social, cultural and merchant marine relations between citizens of Greece and the United States as well as other countries.
  • Sponsor needy Greek students mostly coming from seamen families.

March 2013


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Non ministari sed ministrare

This was the message of the Christian missionaries who founded the school in 1875. More than 137 years later, the love of humanity and caring for, nourishing, developing and fostering human beings who are in need prevails strongly at PIERCE today.

PIERCE students engage in private initiatives for the public good, improving the quality of life. Such projects enhance the educational ideal of excellence and assure the fullest self-development of body, mind and spirit.

As productive and concerned students, members of the student councils, both from the Gymnasium and the Lyceum, take initiatives every year. They visit orphanages and children centers, and support organizations and associations with needed material goods. They organize events to raise monetary donations to the ACG scholarship fund, which helps needy and deserving students achieve their education.

February 2013


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