PanHellenic Scholarship Foundation receives gift of $500,000

Paterakis gives $500,000 to PanHellenic Scholarship Foundation - Feb 25, 2015
On February 9, 2015, the PanHellenic Scholarship Foundation received a gift of $500,000 from the estate of George A. Paterakis Family. Mr. Paterakis, a Chicago native and accomplished businessman of Cretan descent, was a civic activist, philanthropist and benefactor to many organizations whose goal has been the promotion and support of Hellenism and its values. Mr. Paterakis passed away on September 1, 2014.

A bequest provision requires that the gift be named "The Georgia Sfondouris Mitchell Music & Arts Scholarship Fund" in recognition of Mrs. Mitchell's musical and artistic contributions to the Greek American Community over the years. Mrs. Mitchell was a close friend to Mr. & Mrs. Paterakis for many years. The bequest also provides that, from this Fund, two $10,000 scholarships are offered to students majoring in Music or the Arts, at the Foundation's annual awards ceremony and gala event.

Accepting the gift on behalf of the PanHellenic Scholarship Foundation, its Chairman, Mr. Chris P. Tomaras, stated: "We are deeply grateful to Mr. Paterakis for his generous contribution which, among other things, confirms his approval and appreciation of the work of the Foundation. Recognizing the economic significance of this gift for the Foundation, we intend to live fully by his wishes and encourage other members of the Community to emulate Mr. Paterakis' philanthropic act, at any level".

This year, the Foundation will again offer $250,000 to academically outstanding and financially deserving Greek American college students. Our annual event will take place at the Hilton Chicago on Saturday, June 20, 2015. You are all invited so that together we will admire and applaud this year's best and brightest scholarship recipients of Hellenic descent.