Trust Agreement
Article # 29 of the Pancretan Association of America By-Laws
Officers of the Fund
Chair
A Message from the Former Chairman
Dear Friends and Visitors,
The PEF's Investment Portfolio
The Pancretan Endowment Fund’s portfolio consists of a carefully supervised collection of sound quality stocks, bonds and other financial instruments. It is actively managed by the PEF Trustees.
Tax Status of the Fund
The PEF has been granted a 501-c(3) tax-exempt status by the Internal Revenue Service. The detailed terms and irrevocable purposes of the Trust are described by the Trust Agreement, dated January 29, 1990, as amended on March 9th, 1990.
History of the Fund
The Pancretan Endowment Fund (PEF) was established during the 1974 Pancretan Association of America (PAA) Convention in Pittsburgh, PA. An original fund raising effort carried out across PAA Chapters and members created a $200,000 financial base for the fund. Subsequent fund raising efforts and prudent investing of the Fund’s capital by the Trustee’s of the Fund have facilitated the growth of the Fund’s investment portfolio, which is currently valued at over $1,000,000.
The Mission of the Endowment Fund
The Pancretan Endowment Fund represents a unique link between Cretans here in the United States and in Crete (Greece). We need to maintain and nurture connections like the PEF because they greatly increase the likelihood that our people, both here in the United States and in Crete, will continue to celebrate our Hellenic and Cretan identity and heritage.