Satter Foundation: Chicago Grants

OVERVIEW: The Satter Foundation is the philanthropic vehicle of finance couple Muneer Satter and his wife, Kristen Hertel. The foundation makes grants in a number of different areas, including education, health and human services, human rights and democracy, environment and species, job creation and economic opportunity, honoring veterans, and the arts.

FUNDING AREAS: Education, health and human services, human rights and democracy, environment and species, job creation and economic opportunity, honoring veterans, the arts

IP TAKE: This funder has launched a new website and is now slightly more accessible for local grantseekers.

PROFILE: Established in 1997, the Satter Foundation is the foundation of Goldman Sachs partner Muneer Satter and his wife, Kristen Hertel. Satter held a 0.325 percent stake in Goldman prior to its 1999 IPO, worth millions. Today, Satter manages Satter Investment Management and the Satter Medical Technology Fund. The 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.” Grantmaking areas of interest are education, health and human services, human rights and democracy, environment and species, job creation and economic opportunity, honoring veterans, and the arts.

On the K-12 education reform front, Satter and Kristen are strong supporters of the Chicago charter movement. They are primary supporters of New Schools for Chicago, which opens and supports charter and district-run schools. The Satter couple also supports higher education in the Chicago area. They give to health and human services organizations like Northwestern University Health System, the Rehabilitation Institute of Chicago, as well as to policy and global development groups both in Chicago and outside of Chicago. In the past, the couple has also supported Republican and conservative causes, Democratic Chicago Mayor Rahm Emanuel, and arts and culture in Chicago.

Foundation grants vary in size, but it has primarily supported educational opportunities lately. In a recent year, the funder gave over $1.6 million to education, $867,500 to health and human services, and $835,000 to human rights and democracy as its top three giving categories. A significant portion of the funder’s grants stay in Chicago, although Satter awards grants nationally and internationally too.

The Satter Foundation does not accept unsolicited grant requests. The funder’s phone number is 312-642-0006.

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