Satter Foundation: Statement on Growth of Foundation
CHICAGO, IL – The Satter Foundation issued a statement regarding the growth of the Foundation over the past 20 years:
• The Satter Foundation was established in 1997 with $61,693 in personal dollars from Muneer Satter and Kristen Hertel.
• Over time, Mr. Satter and Ms. Hertel have made tens of millions of personal contributions to the Foundation. Mr. Satter and Ms. Hertel never have taken any kind of salary or received any other compensation from their Foundation nor will they ever.
• The Foundation has given over $54 million to hundreds of grantees over the past 20 years.
• The Foundation’s investments are managed by Satter Investment Management, LLC to reduce the expenses of the Foundation so that more dollars can be distributed to charitable organizations.
• Satter Investment Management, LLC charges a 1% investment fee, which is below industry standards, to cover the cost of the professional staff and services associated with managing the Foundation’s assets and investments.
• Satter Investment Management, LLC charges an administrative fee to cover the costs of administering the Satter Foundation, which include rent, computers, research, travel, staff support, printing and other costs.
• To date, neither Mr. Satter nor Ms. Hertel have taken a salary or any other compensation from Satter Investment Management, LLC, which opened an office in 2013.
• Mr. Satter and Ms. Hertel have never taken any kind of salary or any other compensation from the Satter Foundation nor will they ever. They never have personally benefited from the Foundation.
About the Satter Foundation:
Headquartered in Chicago, Illinois, the Satter Foundation’s mission is to empower the powerless and to preserve our world’s land and water by investing in bold, tactical and innovative social entrepreneurs and organizations. The Satter Foundation’s vision is to have a world where all people no matter where or in what circumstances they are born have the resources and opportunities to live a free, educated, prosperous and healthy life.
To learn more about the Satter Foundation, please visit our website at https://satterfoundation.com or call Lisa Wagner at 630-234-2279.
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For Immediate Release
Media Contacts: Lisa Wagner
Monday, March 19, 2018