Historic Financial Reversal and Ambitious Vision for Growth in the Greek Orthodox Church of America
Newsroom
The Greek Orthodox Archdiocesan Council Fall Meeting, convened on October 17, 2025, at the Archdiocesan Cathedral of the Holy Trinity in New York City, concluded with impressive news regarding the Archdiocese's financial health and the announcement of an ambitious vision for education and national ministries.
The meeting was opened by His Eminence Archbishop Elpidophoros of America, in the presence of the Metropolitans (Methodios of Boston, Savas of Pittsburgh, Gerasimos of San Francisco, Nathanael of Chicago, and Apostolos of New Jersey), along with appointed and elected Council members from across the country.
Historic $23 Million Financial Turnaround
Treasurer Elaine Allen and Finance Committee Chairman Lou Kircos presented an overwhelmingly positive financial outlook:
Financial Reversal: The Archdiocese achieved a historic financial turnaround, moving from an accumulated operating deficit of $11 million in 2017 to positive net assets of $12 million in 2025. This represents a total improvement of $23 million over 8 years.
Surplus & Liquidity: For the 9th consecutive year, the Archdiocese is on target for a balanced budget and increased liquidity, which allowed for the immediate financial support of institutions such as the St. Nicholas Greek Orthodox Church and National Shrine, St. Michael’s Home, and the St. Demetrios Cathedral and School.
Clergy/Lay Pension: The significant stabilization and improvement of the clergy and lay staff pension program were also highlighted.
Vision for ‘Holy Cross University’ & Educational Growth
The President of Hellenic College Holy Cross (HCHC), Dr. Demetrios Katos, presented the historic growth figures for the school:
Record Enrollment: HCHC reported the largest number of students in its history, reaching 250 full-time equivalent students and 369 students by headcount.
Elevation Initiative: Archbishop Elpidophoros introduced a major initiative to explore elevating Hellenic College to Holy Cross University, stating: "I see that we have two choices: 1: we shrink, or 2: we have vision and grow. I prefer the second.”
New 403(b) Retirement Plan for All Employees
The Archdiocese announced the establishment of a national 403(b) retirement plan for all lay employees of its parishes, including schoolteachers, for the first time in its history. The Archdiocese will cover the initial set-up fee and annual administrative fees for the first three years.
Other Key Announcements
Orthodox Observer (OO): Dr. Stratos Safioleas presented the successful transformation of the OO into a modern digital multimedia platform, which attracted 4.2 million pageviews during the Ecumenical Patriarch’s recent visit.
New Ministry: The establishment of a new national ministry for Greek Folk Dance and Culture was announced, aiming to connect faith and heritage.
Next Clergy-Laity: Fr. Evagoras Constantinides announced that the 2026 Clergy-Laity Congress will be held in Cleveland, June 30 - July 2, with the theme: "Rise and Rebuild."
Inter-Christian Dialogue: Vice-President John Catsimatidis stated that he is working to establish the Ecumenical Patriarch and the Pope as "equal in Christianity."
