The Greek Orthodox Community of Melbourne and Victoria (GOCMV) will hold its Annual General Meeting (AGM) on Sunday, 15 June 2025, at 1:00 PM at the Andrianakos Centre, Alphington Grammar. Members will be updated on the organisation’s finances, key initiatives, and the upcoming election, for which the date will be decided during the AGM.

Those wishing to nominate as candidates must submit completed forms by 5:00 PM on Saturday, 14 June. Forms are available via request at info@greekcommunity.com.au

Financial recovery and investment

The GOCMV continues to improve its financial position. The organisation posted a reduced loss of $980,000 in 2024 (excluding EBITR), compared to $2.3 million in 2023. A GCM representative said that it holds more than $120 million in assets, with debt remaining just above $4 million.

“The GCM is in a stable financial position,” a spokesperson said. “We are managing debt, investing in new revenue streams, and delivering programs to benefit both members and the broader community.”

“The GCM holds over $120 million in assets, while its debt sits just above $4 million”

“The financial result in 2024 was, as was promised in 2023, a better result and one of managed debt as the GCM pursues new revenue streams,” the GCM representative said.

The organisation also noted that it is pursuing fair compensation from the Victorian Government for the compulsory acquisition of the Bulleen property, having received an initial $11 million and now pursuing further compensation through the Supreme Court.

Government Support and Infrastructure Works

GOCMV has welcomed support from both federal and state governments. A $1.8 million commitment from the Albanese government will support upgrades across its City and Prahran sites—though the funding is reimbursable and tied to expenditure milestones.

“We’ve already commenced detailed planning, design, and project management,” the representative said.

“The target is to deliver these projects within 18 months.”

Membership system modernised

In 2024, GOCMV transitioned to GlueUp, a cloud-based membership management system that automates renewal notices and enables members to manage their profiles independently.

“All financial members from 2024 are eligible to renew at any time in 2025, including at the AGM,” the Board confirmed. “No members have been deleted.”

The current membership stands at 1,536, with those whose memberships have lapsed remaining on the database and continuing to receive communications and offers.

“Automated reminders are sent each December, and every GCM newsletter contains a standing renewal notice,” the spokesperson added.

Delay in AGM and audit clarified

This year’s AGM was delayed due to unforeseen circumstances in the audit process. General Secretary Nikos Koukouvitakis provided this explanation:

“There was a delay in finalising the audit due to a number of complicating factors. As you know, our audit transitioned from PwC, which had served our Community for many years, to Crowe Australasia. The audit began in September 2024. Unfortunately, the assigned auditor fell seriously ill, which caused disruption. In the first quarter of 2025, the lead auditor was replaced and the audit process resumed.”

The GCM representative reiterated that despite delays, the audit was conducted in line with legal standards and pertains to the 2024 financial year.

Concerns and criticism from a group of members

A group of members wrote to the Board calling for the postponement of the AGM expressing concern about the “finances, and governance”. They cite a reported financial loss of $1.625 million for 2024 and $2.905 million in 2023.

The letter was signed by Christos Fifis, Kostas Karamarkos, Con Kazantzis, Marietta Kokkas, Apostolos Kounelis, Costas Markos, Theo Markos, Effie Maltezos, Eleni Maltezou, Jim Skazas, Stratos Vakkas, and Vasso Zangalis.

They argue the AGM report does not include the auditor’s independence declaration, which they claim is required under Section 60-C of the Australian Charities and Not-for-profits Commission (ACNC) Act.

Response to criticism and reason for AGM delay

In response to the criticism, the GCM Board has reiterated that there are no extenuating legal concerns and that the audit remains compliant with the requirements of the ACNC. They also point to the significant reduction of the operating loss and the augmented income expected over the next period of operations (see above).  The GCM also emphasised that it welcomes questions however, maintains confidence in the organisation’s finances and operations.

As far as the delay the GCM, in a statement to Neos Kosmos, said an “unforeseen, and serious illness” of the originally appointed auditor delayed the completion of the audited report. Crowe Australasia had to appoint a new lead auditor earlier this year, “which caused significant disruption to the audit timeline and, consequently, delayed the GCM’s capacity to report to its members”.

A formal notice of the upcoming AGM has been issued to members, accompanied by the 2024 financial report.

The report lacks the Auditor’s Declaration and Final Report, however the GCM said that the financial statements were released with “the full knowledge and approval of the Auditor”. The declaration and final audit report will be provided shortly prior to the meeting.

“The full audited report will be formally presented at the meeting, in accordance with the requirements of the GCM Constitution” the statement read.

It went on to say that the GCM will also submit all necessary reports to statutory authorities in line with its legal obligations.

The GCM has obtained expert legal advice to ensure full compliance. Based on that advice and the organisation’s governing rules, the meeting notice was prepared and issued appropriately.

In addition, the Treasurer has provided a written statement—already circulated to members—outlining the 2024 financial results. The GCM statement reiterated that all members are encouraged to attend the meeting and may raise any questions regarding the financials directly with the Treasurer”.

The Annual General Meeting will proceed as scheduled and in full compliance with the GCM’s constitution and the regulatory requirements of the ACNC.

Looking ahead

As the GOCMV prepares for its AGM, the focus remains on financial responsibility, community engagement, and delivering long-term projects.

“We are always open to dialogue,” the spokesperson said.

“But our priority is to keep building for the future—strengthening our institutions and services for current and future generations.”