MAZARAKATA - TRAVLIATA FOUNDATION

This institution was inactive when the Metropolis first became involved in its administration. It is a benevolent foundation established by the Will of Dionysios Stylianos Mazarakis dated 22/2/1964 and executed by a decree of the Lower Court of Athens (protocol no. 108/1970). The foundation's name was to be "Benevolent Foundation of Mazarakata - Travliata" and its President would be the Metropolitan of Cephalonia.

The Foundations purposes are: aiding the poor and needy in the villages of Travliata and Mazarakata; providing financial support for the Church of The Transfiguration in Travliata; the annual endownment of a needy young lady who resides permanently in either of the two villages; and, whatever other good cause is agreed upon unanimously by the administrative committee. This foundation is administered by the Metropolitan of Cephalonia who is President, the head of the Tax Office, the local priest and three persons from either of the villages who are elected by the townspeople and serve a three year term as committee members.

The main bequest was a building in Kastella, Pireaus (on the intersection of Akti Kountouriotou and Kanigos Street). Unfortunately this building was in bad condition. The Metropolis' first action was to deal with this building which was so deteriorated that the Piraeus Police had been notified to take measures in order to avoid a possible accident. A dead-end was reached when the Ministry of Culture classified this building as a "Preservable Monument". There was only one possible solution: the auction sale of the property. The executive board set off a meticulous procedure for this purpose and on Pentacost Day in 1988 the auction took place with the starting price at 46.765.000 drachmas. The auction proceeded with three interested bidders and the property was sold at the price of 65.308.000 drachmas.

This money was invested in ETVA and Government Bonds valued at 60.000.000 drachmas. The foundation benefits from the interest accrued on the bonds while the ultimate goal is to invest in real estate.

These careful and honest transactions of the executive board, under the Metropolitan's leadership, have enabled the foundation to operate in Cephalonia, benefiting the island, and mainly the inhabitants of Mazarakata and aTravliata, under the Grace of God.