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 main purpose of the PEF is to sustain beneficial programming for the University of Crete and the Polytechnical Institute of Crete. In addition, utilizing the faculties of the Universities of Crete, the PEF promotes and supports various projects, including but not limited to:
- Educational programs
- Summer Courses
- Internships
- Seminars
- Bi-Lateral Student Exchanges for American and Cretan youth
These programs are designed to promote stronger bonds and co-operation between the peoples of Greece and the United States, as well as encourage Greek and Cretan youth to cherish Hellenic and Cretan ideals, identities and our common national heritage.