Frequently Asked Questions

English/Ελληνικά

Q: The American College of Greece is a “non-profit” institution.  What does this mean?

A: The American College of Greece is not a profit entity; it has no “owner” or “shareholders”. Any assets it holds, over and above what it needs for operations are held for the benefit of the institution not for any individual.  The College  is governed by a volunteer Board of Trustees who are ultimately responsible for appointing the President, managing the College’s assets and carrying out the College’s mission: “To add distinctive value to the lives of our students as well as Greece, American education, Hellenic heritage, and the global community through transformative teaching, scholarship and service”.

 

Q: Does tuition cover the cost of an ACG education?

A: The College applies the revenue generated from tuition to its annual operating costs.  Like most private educational institutions, tuition does not cover these costs.  In order to meet its expenses, the College relies in part on its reserve assets (built during periods when tuition exceeded annual budgets) and in part on gifts from alumni and friends. Traditionally, any surplus in operational budget – whenever they occur – is either invested in students, program development, infrastructure, or retained for future use.  In this way the College has been able to continue to maintain the quality of education and services as well as offer unique opportunities to students, state of the art facilities and programming throughout its 138 year history, including the current economic crisis.

 

Q: What is the Attica Tradition Foundation?

A: Attica Tradition Foundation is a non-profit educational foundation that supports ACG’s effort to raise funds for student’s scholarships.  All funds received by ATF from donors to the 2014 Alumni Achievement Awards will be used to provide scholarships and financial aid to ACG students (PIERCE – DEREE – ALBA).

 

Q: Who governs ACG?

A: Ultimately, the Board of Trustees, a US-based elected body of volunteers who contribute their time and considerable talents to steering a course for the College. Day to day operations of the College are overseen by the President, who is selected by the Board.

 

Q: Why should I donate to ACG?

A: Your gift, and the gifts of others, will be used to enable talented and deserving students achieve an education at a time of great need.

 

Q: How will the money raised by the 2014 Alumni Achievement Awards be used?

A: All money raised will be awarded to students of PIERCE, DEREE, and ALBA.

 

Q: How many students have received financial/scholarship support over the 2013 – 2014 academic year?

A: ACG offers high quality secondary, undergraduate and graduate education to thousands of young people from Greece and more than 54 countries.

 

As the recent financial crisis enveloped Greece, ACG’s volunteer, US-based Board of Trustees voted to increase financial aid and scholarship funding by six-fold over four academic years (2012/2013 – 2015/1016) with a total investment of more than $20 million.   One half of these funds will be raised from ACG alumni and friends, corporations and foundations.  Gifts of all sizes will help us to achieve this goal.

 

During the 2013-14 academic year, over 1,400 PIERCE, DEREE and ALBA students – 37% of the student body – received some form of financial support.

 

It is ACG’s goal to expand this benefit and assist a larger number of students; both to encourage excellence through scholarships and to help deserving students continue their studies despite financial constraints.

ACG is also preparing to increase support in academic innovation and excellence through investments in faculty and academic programs.

 

Q:  Will my gift make a difference?

A:  Gifts of all sizes are welcome and encouraged. If all friends and alumni of the college would support this effort as they are able, we will achieve our goal of helping talented and deserving students.

 

Q: What is the source of scholarship funding?

A: Scholarship funding comes from a number of sources, partly from existing endowed funds established by generous donors, partly from expendable gifts from alumni and friends, and partly from the reserve assets of the College.

 

Q: Is any person or corporate supporter involved in the 2014 Alumni Achievement  Awards being paid?

A: No. The 2014 Alumni Achievement Awards is a voluntary effort to raise scholarship funds for PIERCE, DEREE, and ALBA students.

 

Q: Is there a minimum amount I can contribute?

A: Yes, there is a minimum which is equal to the cost of a single ticket – 60€. Any gift, however small will help an ACG student.  What matters most, is that you participate.

 

Q: For corporations / foundations what “Benefactor’s Packages” are available and respective benefits offered:

 

The 2014 Alumni Achievement Awards Benefactor Packages available are the following:

  • Platinum €50,000
  • Gold €10,000
  • Silver €5,000
  • Bronze €3,000
  • Young Alumni Benefactor €120 (Seats 2, ACG 2005-2014 graduates)
  • Scholarship Student Benefactor €120 (Seats 2, ACG 2013-2014 scholarship recipients)
  • Communication Benefactor
  • In-Kind Benefactor

 

By participating as a benefactor, your corporation will benefit from extensive exposure through outreach efforts and visibility in publications, web, honor roll of donors and a variety of promotional opportunities pre, during and post event. Your brand will reach an audience of 1,050 PIERCE, 2,800 DEREE and 400 ALBA students, thousands of parents, our partners and suppliers, 490 ACG faculty and staff members, and more than 37,000 alumni worldwide.

 

We expect close to 500 guests, including other corporations, VIP guests, PIERCE, DEREE, and ALBA alumni, faculty, trustees, staff, students, and parents, as well as partners and friends of the College. Benefactors at the Platinum, Gold, Silver and Bronze levels will be invited to a post Alumni Achievement Awards event to meet scholarship recipients. This will be a unique opportunity for corporate representatives committed to social responsibility to meet the students they are supporting, interact with executives from corporations with shared values and publicize their company’s CSR priorities.

 

The ACG Alumni Achievement Awards is an established biannual event that draws local and global attention, having honored world-renowned personalities of the arts, sciences, business, politics, and education. Previous Alumni Achievement Awards ceremonies have received extensive media coverage and the event’s reputation has traveled around the globe through our 37,000 engaged alumni body.
To learn more on the benefits offered for each category, please visit here

Q:  How can I make a donation in Greece?

A:  Alumni and friends in Greece can give donations by using the following methods:

1.     Give now On-Line

2.     Cash and credit cards

3.     Personal checks and Bank checks

4.     Bank deposits/e-banking

For more information please click HERE

 

Q:  How can I make a donation in the US?

A:  Alumni and friends in the United States can make donations to The American College of Greece by using the following methods:

1.     Personal checks

2.     Wire Transfer of Cash

3.      Gifts of Securities

For more information please click HERE

 

Q:  Are donations tax-exempt in Greece?

A: In order for gifts from Greek donors to be tax exempt they must exceed 100€. For more information please contact the Office of Development at: t. 210.600.9800, ext.: 1239, 1037, 1308, e-mail: [email protected]

 

Q: Are gifts to ACG deductible in the US?

A: Yes.  The American College of Greece is a US IRS recognized nonprofit educational institution.  Gifts to The American College of Greece are deductible as charitable donations to the extent allowed by US law.

 

Q: Are international (non-Greek, non-US) donations accepted?

A: Yes – Gifts to ACG from non-Greek and non-US taxpayers are accepted.

 

Q: Do donations qualify for tax deductions in other countries?

A: The tax deductibility of your gift depends on the laws of the country where you pay taxes.

 

Q: Can I designate my gift for the 2014 Alumni Achievement Awards to a specific division?

A: Gifts in support of 2014 Alumni Achievement Awards at The American College of Greece (PIERCE, DEREE and ALBA) will be directed to the ACG Scholarship Fund, with an indication of the division of your preference.

If no division is designated, your donation will be added to the ACG Scholarship Fund and will be used based on the needs of our Financial Assistance Program.

 

Q: What is the difference between designated and unrestricted gifts?

A:  Unrestricted gifts are allocated by the College to the most pressing need in the year in which they are made.  Designated gifts are utilized in accordance with the donor’s wishes for the program indicated (eg. Scholarships).

 

Q: What is the difference between an endowed and an expendable fund?

A: Endowed Scholarships: a permanent legacy

Your gift will be held in a separate account with other endowed funds and invested. ACG’s endowed fund investments are professionally managed in the United States and are overseen by the Board of Trustees.

Once activated, an annual spending amount determined by the trustees, typically between 4% and 5%, will be allocated to student aid from your fund. Because the principal is preserved, your fund will endure and benefit generations of students.

You may permanently name the fund in any way that is meaningful for you.

 

Expendable Scholarships: immediate support for students

An expendable (current use) scholarship is designed to provide immediate awards for students, and can be named for the duration of the funding.

 

Q: What is the difference between an endowed and a college funded scholarship?

A: Endowed scholarships are funded by individuals, last in perpetuity, and are awarded according to the terms developed between the donor and the College.  College funded scholarships utilize unrestricted gifts and/or assets allocated by the trustees from the reserve account.

 

Q: For more information about gift vehicles, designation opportunities or assistance with making a donation to ACG, who should I contact?

A: Please contact:

– In Greece: Mary-Irene Triantafillou, ACG Executive Director of Development

t. 210.600.9800 ext.: 1239 or [email protected][email protected]

– In the US: Office of Development

t.  857.284.7908 – [email protected]

 


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