Press Release

After careful consideration, including the advice of financial and legal advisors, the Board of Trustees of Saint Basil Academy has authorized the filing of the necessary papers seeking a financial restructuring under the appropriate laws.

This action is necessary to resolve in a fair and efficient manner five civil lawsuits brought against Saint Basil under New York’s Child Victims Act concerning allegations of child sexual abuse alleged to have occurred some 40 years ago in the 1980s. Saint Basil’s restructuring is intended to enable the Academy to continue its mission to help families and children, meet its obligations to the children it serves, its donors, and its vendors. The Academy recognizes the lasting harm caused by childhood sexual abuse and the difficulty individuals may face in coming forward.

“Our responsibility is to approach these claims seriously and respectfully while protecting the children and families in our care today,” said Dr. Steven Gounardes, President of the Board of Trustees. “The Academy operates solely on charitable donations, many of which are for restricted purposes that prevent them from being applied towards settlements of judicial claims. Therefore, we are seeking a reorganization that includes a court-supervised resolution of the claims, which will allow the Academy to continue caring for those who depend on it and provide a sustainable future for the Academy’s work.

The Academy is committed to effective safeguards, prompt action on reports of abuse, and reporting to civil authorities as required by law. The Academy will continue operating normally and providing care and support during the reorganization process.