Satter Foundation
| URL |
https://Persagen.com/docs/satter_foundation.html |
| Sources |
Persagen.com | other sources (cited in situ) |
| Authors |
Persagen.com |
| Date published |
2021-09-02 |
| Curation date |
2021-09-02 |
| Curator |
Dr. Victoria A. Stuart, Ph.D. |
| Modified |
|
| Editorial practice |
Refer here | Dates: yyyy-mm-dd |
| Summary |
Muneer A. Satter, a retired partner at Goldman Sachs, is an American investor and philanthropist. Satter serves as Vice-Chairman of the Goldman Sachs Foundation, and Goldman Sachs Gives Gives. Satter founded the Satter Foundation in 1997 to support (with his wife, Kristen Hayler Hertel) education, human rights, democracy, job creation, veterans, and preservation of the environment. The Satter Foundation has made grants approaching $60 million since its inception in 1997. |
Self-reported
summary |
Philosophy: "We envision 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." Mission: "The Satter Foundation aims to empower the powerless and to preserve our world's land and water by investing in bold, tactical, and innovative social entrepreneurs and organizations."
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| Keywords |
Show
- 501(c)(3) nonprofit organization | capitalism | dark money | donor-advised funds | family office | lobbying | lobbyists | private grantmaking foundation | secretive advocacy groups
- charity | philanthropy
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| Named entities |
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- Affiliations:
- Goldman Sachs (American multinational investment bank and financial services company)
- Goldman Sachs Foundation (charity; 10,000 Women; 10,000 Small Businesses)
- Goldman Sachs Gives (charity)
- Satter Foundation:
- Muneer A. Satter (founder & trustee, Satter Foundation; Trustee; retired Partner, Goldman Sachs)
- Kristen Hayler Hertel (trustee, Satter Foundation; wife of Muneer Satter)
- Topel Forman LLC (accountants)
- Associations - Muneer Satter:
- Accelerate Institute
- Feinberg School of Medicine (Northwestern University)
- Goldman Sachs Foundation (charity)
- Goldman Sachs Gives (charity)
- Navy SEAL Foundation
- Northwestern Medical Group
- Northwestern University
- Project Excite (Northwestern University; education advocacy)
- Room to Read (advocacy)
- Satter Investment Management LLC (life sciences and technology investment advisory firm)
- The Nature Conservancy (advocacy)
- U.S. Olympic & Paralympic Foundation (literacy advocacy)
- Chicago, Illinois
- New York
- United States
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| Ontologies |
Show
- Science - Social sciences - Economics - Economic systems - Capitalism - Advocacy - Lobbying
- Science - Social sciences - Economics - Economic systems - Capitalism - Advocacy - Lobbying - Advocacy groups - Secretive advocacy groups - United States
- Society - Charitable giving & Practices - Politics - Organizations - Nonprofit Organizations - Dark money
- Society - Charitable giving & Practices - Politics - Organizations - Nonprofit Organizations - Dark money - Countries - United States - Donor-advised funds - Satter Foundation
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Satter Foundation
|
| Name |
Satter Foundation |
| Founded |
1997, New York |
| Founders |
- Muneer A. Satter (husband of Kristen Hayler Hertel)
- Kristen Hayler Hertel (wife of Muneer A. Satter)
|
| Type |
501(c)(3) nonprofit organization; private grantmaking foundation (source) |
| EIN (Tax ID) |
13-3936468 |
| Location |
Chicago, Illinois, USA |
| Areas served |
Global |
| Accountant |
Topel Forman LLC (source) |
| Motto |
|
| Revenue |
2018: -$3,779,615 (negative; source) |
| Expenses |
2018: $5,957,972 (source) |
| Assets |
2018: $27,906,244 (source) |
| Description |
Cumulative giving, 1997-2019: $59,754,123 |
Associations
(Muneer Satter) |
- Northwestern University: Board of Trustees; Chairman, Finance Committee (2018-2020)
- The Nature Conservancy: Board of Trustees (2006-2015); Chairman, Finance Committee (7 years)
- Room to Read: Board, Co-Chairman (2005-2008)
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Affiliations
(Muneer Satter) |
|
| Website |
SatterFoundation.com |
Background
Muneer A. Satter (born December 21, 1960), a retired partner at Goldman Sachs, is an American investor and philanthropist. Muneer Satter is the founder and chairman of Satter Investment Management, LLC, a private investment firm and family office.
Muneer Satter founded the Satter Foundation in 1997 to support education, human rights, democracy, job creation, veterans, and preservation of the environment. Muneer Satter serves as Vice-Chairman of the Goldman Sachs Foundation, and Goldman Sachs Gives (GS Gives). Muneer Satter serves on the boards of Northwestern University, Northwestern Medical Group, the Navy SEAL Foundation, and the Accelerate Institute. Muneer Satter is also a Trustee of the U.S. Olympic & Paralympic Foundation.
Muneer Satter is a philanthropist, who together with his wife, Kristen Hayler Hertel, has made grants approaching $60 million through their family foundation, the Satter Foundation, since its inception in 1997.
Goldman Sachs Foundation
Source: Wikipedia, 2021-09-02.
Muneer A. Satter is vice-chairman of the board of the Goldman Sachs Foundation and Goldman Sachs Gives. The Goldman Sachs Foundation organizes and supports 10,000 Women and 10,000 Small Businesses. 10,000 Women is a global initiative that fosters economic growth by providing women entrepreneurs in developing nations around the world with a business and management education, mentoring, networking and access to capital. 10,000 Small Businesses assists entrepreneurs in the U.S. and U.K. to create jobs and economic opportunity by providing a practical business education, a network of support and access to capital.
Founders Statement
From the Founders:
"We started the Satter Foundation in 1997 to help create 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. Our focus is on creating real and sustainable change in the lives of people and in the environment we all share.
"Our approach to philanthropy is similar to venture funding. We seek to empower the powerless by investing in innovative leaders with big ideas who are tackling some of the world's most difficult challenges: human rights abuses, poverty, educational disparities, disease, environmental issues, lack of mental health resources, and more. We also invest our time and leadership as appropriate to help these organizations develop strategies to grow more rapidly. We recognize the skills and know-how of those who are on the ground - both here in Chicago or across the globe - and try to arm them with steady, long-term, unrestrictive support.
"The world's needs are many and can, at times, be daunting. Look, we are not naive. We know we are barely making a dent, but that won't stop us. As the years go by, the issues we address may change, but we will always look beyond the easy wins to take on risky projects to create real and sustainable impact for those in need.
We are fortunate to be in the position to give back. We hope that by sharing some of the successful approaches of the organizations we support, you may join us in moving closer to positively impacting the lives of those who are most in need. We are most grateful for your help and suggestions."
Sincerely,
Muneer Satter
Kristen Hertel
Financials
| Satter Foundation; IRS Form 990-PF data. |
| a Loss (2018). | Source |
| Year | Revenue | Expenses | Assets | Liabilities |
| 2018 | $(3,779,615) a | $5,957,972 | $27,906,244 | $0 |
| 2017 | $1,348,572 | $6,423,123 | $37,643,831 | $0 |
| 2016 | $8,053,117 | $6,268,384 | $42,718,382 | $0 |
| 2015 | $1,656,543 | $7,667,586 | $40,933,649 | $1 |
| 2014 | $5,944,871 | $7,500,554 | $46,944,692 | $0 |
| 2013 | $2,756,357 | $8,163,536 | $48,500,375 | $0 |
| 2012 | $4,874,199 | $5,796,299 | $53,907,554 | $0 |
| 2011 | $4,132,866 | $4,452,446 | $54,829,654 | $0 |
| 2010 | $10,254,073 | $3,583,051 | $55,149,234 | $0 |
| 2009 | $6,863,749 | $2,783,165 | $48,478,212 | $0 |
| 2008 | $8,920,493 | $2,278,071 | $44,379,628 | $0 |
| 2007 | $9,796,827 | $1,765,128 | $37,755,206 | $0 |
| 2006 | $11,688,390 | $1,093,362 | $29,723,507 | $0 |
| 2005 | $3,651,540 | $800,103 | $19,528,479 | $400,000 |
| 2004 | $2,471,634 | $763,567 | $16,277,042 | $0 |
| 2003 | $2,590,256 | $485,439 | $14,568,975 | $0 |
| 2002 | $713,824 | $325,865 | $12,464,158 | $0 |
| 2001 | $4,089,729 | $279,050 | $14,076,199 | $2,000,000 |
| Totals | $86,027,425 | $66,386,701 | --- | --- |
2019 Annual Report | local copy
2018 Annual Report | local copy
2017 Annual Report | local copy
2016 Annual Report | local copy
2015 Annual Report | local copy
2014 Annual Report | local copy
2013 Annual Report | local copy
Charitable Giving
Satter Foundation: cumulative giving, 1997-2019: $59,754,123.
[Source]
New Venture Fund
Satter Foundation contributions to the New Venture Fund total $1.7 million dollars, spanning 2013-2018:
2018: $50,000 (cumulative total: $3,250,000) | source
2017: $100,000 (cumulative total: $3,200,000) | source
2016: $100,000 (cumulative total: $3,100,000) | source
2015: $500,000 (cumulative total: $3,000,000) | source
2014: $500,000 (cumulative total: $2,500,000) | source
2013: $500,000 (cumulative total: $2,000,000) | source
Northwestern University
Source: Wikipedia, 2021-09-02.
The Satter Foundation has committed more than $10 million to finance scholarships to Northwestern University's Feinberg School of Medicine. The scholarships pay all tuition for a student's first three years of medical school.
The Satter Foundation also funds Project Excite, founded at the Northwestern University School of Education and Social Policy, to close the achievement gap between minority and non-minority students at Evanston High School in Illinois. The project runs education, academic advising and personal education programs designed to improve access for minority students and help them earn admission to college.
A Northwestern University alumnus, Muneer A. Satter serves on the Northwestern University's Board of Trustees, and was chairman of Northwestern University Finance Committee from 2018 to 2020. Northwestern University has $11 billion in assets and an operating budget of over $2.5 billion per year. Satter serves on the Board of the Northwestern Medical Group, which has over 1,000 doctors and over $1 billion of revenue.
The Nature Conservancy
Source: Wikipedia, 2021-09-02.
Profile: Muneer Satter | local copy
The Satter Foundation has been a consistent supporter of The Nature Conservancy, including seven years as treasurer and chairman of its Finance Committee. The Nature Conservancy is one of the largest environmental non-profits in the world with more than $6 billion in assets - including a $2 billion endowment and capital fund - and operations in more than 35 countries. Muneer A. Satter served from 2006 to 2015 on The Nature Conservancy's Board of Trustees, including seven years as chairman of its Finance Committee.
Room to Read
Source: Wikipedia, 2021-09-02.
The Satter Foundation is a longtime supporter of Room to Read, which has opened over 38,000 schools and libraries, distributed over 25 million books and sponsored over 100,000 Girl Scholars. Room to Read works in 17 countries across the developing world. Muneer A. Satter served as co-chairman of Room to Read's board from 2005 to 2008, and is a long-time friend to the organization's Founder, John Wood.
Additional Reading
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