Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
bulletDo not enter social security numbers on this form as it may be made public.
bulletGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0052
2018
Open to Public Inspection
For calendar year 2018, or tax year beginning 01-01-2018 , and ending 12-31-2018
Name of foundation
THE SATTER FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)500 N MICHIGAN AVE STE 1700
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
CHICAGO, IL60611
A Employer identification number

13-3936468
B Telephone number (see instructions)

(312) 642-0006
C bullet
G Check all that apply:

D 1. Foreign organizations, check here............. bullet
2. Foreign organizations meeting the 85%
test, check here and attach computation ... bullet
E bullet
H Check type of organization:
F bullet
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)bullet$29,545,791J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule)  
2 Check bullet.............
3 Interest on savings and temporary cash investments 30,301 30,301  
4 Dividends and interest from securities...      
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 -3,708,390
b Gross sales price for all assets on line 6a 3,354,462
7 Capital gain net income (from Part IV, line 2)... 0
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment -101,526 -103,621 0
12 Total. Add lines 1 through 11........ -3,779,615 -73,320 0
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0 0 0 0
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule)......... Click to see attachment 3,378 3,378 0 0
b Accounting fees (attach schedule)....... Click to see attachment 38,988 38,988 0 0
c Other professional fees (attach schedule).... Click to see attachment 131,590 0 0 131,590
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 30,000 0 0 0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings....... 65,658 0 0 65,658
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 595,858 381,945 0 213,913
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 865,472 424,311 0 411,161
25 Contributions, gifts, grants paid....... 5,092,500 5,092,500
26 Total expenses and disbursements. Add lines 24 and 25 5,957,972 424,311 0 5,503,661
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -9,737,587
b Net investment income (if negative, enter -0-) 0
c Adjusted net income (if negative, enter -0-)... 0
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2018)
Form 990-PF (2018)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing.............      
2 Savings and temporary cash investments......... 6,331,152 3,244,673 3,244,673
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 16,234,292 Click to see attachment10,787,188 9,055,139
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 15,066,044 Click to see attachment13,874,383 17,245,979
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet) Click to see attachment12,343 Click to see attachment0 Click to see attachment0
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 37,643,831 27,906,244 29,545,791
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22)......... 0 0
Net Assets or Fund Balances Foundations that follow SFAS 117, check here bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted..................    
25 Temporarily restricted...............    
26 Permanently restricted...............    
Foundations that do not follow SFAS 117, check here bullet
and complete lines 27 through 31.
27 Capital stock, trust principal, or current funds........ 37,643,831 27,906,244
28 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
29 Retained earnings, accumulated income, endowment, or other funds 0 0
30 Total net assets or fund balances (see instructions)..... 37,643,831 27,906,244
31 Total liabilities and net assets/fund balances (see instructions). 37,643,831 27,906,244
Part III
Analysis of Changes in Net Assets or Fund Balances
1
Total net assets or fund balances at beginning of year—Part II, column (a), line 30 (must agree with end-of-year figure reported on prior year’s return) ...............
1
37,643,831
2
Enter amount from Part I, line 27a .....................
2
-9,737,587
3
Other increases not included in line 2 (itemize) bullet
3
0
4
Add lines 1, 2, and 3 ..........................
4
27,906,244
5
Decreases not included in line 2 (itemize) bullet
5
0
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30 .
6
27,906,244
Form 990-PF (2018)
Form 990-PF (2018)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.)		 (b)
How acquired
P—Purchase
D—Donation 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a EDGE THERAPEUTICS INC. P 2017-04-19 2018-03-29
b GREAT POINT PARTNERS II LP P    
c BIOTECHNOLOGY VALUE FUND LP P    
d GREAT POINT PARTNERS I LP P    
e REVERENCE CAPITAL PARTNERS OPPORTUNITIES FUND I LP P    
SOLAMER CAPITAL FUND II-A, LP P    
GS CAPITAL PTNRS VI PIA-PMD P    
GS MEZZANINE PARTNERS 2006 PCP FUND OFFSHORE, LTD. P    
GS MEZZANINE PARTNERS V PIA PMD QP FUND OFFSHORE, LTD P    
GS EMPLOYEE FUND 2000 OFFSHORE (CORPOROATE). LP P    
SUTTON SQUARE PARTNERS REDEMPTION P 2016-08-29 2018-04-16
SUTTON SQUARE PARTNERS REDEMPTION P 2016-08-29 2018-07-11
SUTTON SQUARE PARTNERS REDEMPTION P 2016-08-29 2018-08-20
VITAL THERAPIES INC. P 2014-01-06 2018-09-14
VITAL THERAPIES INC. P 2012-09-25 2018-09-18
SUTTON SQUARE PARTNERS REDEMPTION P 2016-08-29 2018-12-28
ONT INVESTORS LLC P 2010-01-14 2018-04-16
MBD 2011 OFFSHORE, LP P    
IREO FUND II, LTD P    
GS CAPITAL PTNRS V PCP FUND OFFSHORE, LTD P    
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 72,592   507,445 -434,853
b 274,852     274,852
c     8,112 -8,112
d     30,261 -30,261
e 170,682     170,682
151,424     151,424
730,476     730,476
    30,843 -30,843
    36,421 -36,421
    676 -676
284,165   250,000 34,165
291,449   250,000 41,449
531,491   450,000 81,491
133,565   3,521,736 -3,388,171
66,326   1,884,290 -1,817,964
58,944   50,000 8,944
216,862   43,068 173,794
218,424     218,424
438     438
152,772     152,772
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l)
Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i)
F.M.V. as of 12/31/69 		(j)
Adjusted basis
as of 12/31/69 		(k)
Excess of col. (i)
over col. (j), if any
a       -434,853
b       274,852
c       -8,112
d       -30,261
e       170,682
      151,424
      730,476
      -30,843
      -36,421
      -676
      34,165
      41,449
      81,491
      -3,388,171
      -1,817,964
      8,944
      173,794
      218,424
      438
      152,772
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 -3,708,390
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ................... 		Bracket 3 -434,853
Part V
Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income
(For optional use by domestic private foundations subject to the section 4940(a) tax on net investment income.)

If section 4940(d)(2) applies, leave this part blank.
Was the foundation liable for the section 4942 tax on the distributable amount of any year in the base period?
If "Yes," the foundation does not qualify under section 4940(e). Do not complete this part.
1 Enter the appropriate amount in each column for each year; see instructions before making any entries.
(a)
Base period years Calendar
year (or tax year beginning in) 		(b)
Adjusted qualifying distributions 		(c)
Net value of noncharitable-use assets 		(d)
Distribution ratio
(col. (b) divided by col. (c))
2017 5,956,768 41,014,403 0.145236
2016 5,516,474 44,165,218 0.124905
2015 6,805,138 60,843,580 0.111846
2014 6,710,858 64,311,670 0.104349
2013 6,233,318 64,429,855 0.096746
2
Total of line 1, column (d) .....................
2
0.583082
3
Average distribution ratio for the 5-year base period—divide the total on line 2 by 5.0, or by the number of years the foundation has been in existence if less than 5 years ......
3
0.116616
4
Enter the net value of noncharitable-use assets for 2018 from Part X, line 5......
4
35,774,233
5
Multiply line 4 by line 3......................
5
4,171,848
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
0
7
Add lines 5 and 6........................
7
4,171,848
8
Enter qualifying distributions from Part XII, line 4,.............
8
5,503,661
If line 8 is equal to or greater than line 7, check the box in Part VI, line 1b, and complete that part using a 1% tax rate. See the Part VI instructions.
Form 990-PF (2018)
Form 990-PF (2018)
Page 4
Part VI
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here Bullet and enter “N/A" on line 1. Bracket includes lines 1a and 1b
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b Domestic foundations that meet the section 4940(e) requirements in Part V, check 1 0
hereBulletand enter 1% of Part I, line 27b...................
c All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2 0
3 Add lines 1 and 2........................... 3 0
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4 0
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 0
6 Credits/Payments:
a 2018 estimated tax payments and 2017 overpayment credited to 2018 6a 41,533
b Exempt foreign organizations—tax withheld at source...... 6b
c Tax paid with application for extension of time to file (Form 8868)... 6c 0
d Backup withholding erroneously withheld ........... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 41,533
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 41,533
11 Enter the amount of line 10 to be: Credited to 2019 estimated taxBullet41,533 RefundedBullet 11 0
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? (see Instructions
for definition).................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$ 0(2) On foundation managers.bullet$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
Yes
 
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
Yes
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletIL
    b
    If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2018 or the taxable year beginning in 2018? See the instructions for Part XIV.
    If "Yes," complete Part XIV .............................
    9
     
    No
    10
    Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
    and addresses. ...............................
    10
     
    No
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 5
    Part VII-A
    Statements Regarding Activities (continued)
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement. See instructions.................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletN/A
    14
    The books are in care ofbulletTOPEL FORMAN LLC Telephone no.bullet (312) 642-0006

    Located atbullet500 N MICHIGAN AVE STE 1700CHICAGOIL ZIP+4bullet60611
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ........bullet
    15
     
    16 At any time during calendar year 2018, did the foundation have an interest in or a signature or other authority over YesNo
    a bank, securities, or other financial account in a foreign country? .................
    16   No
    See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
    country bullet  
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?......................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)?...............
    (6) Agree to pay money or property to a government official? (Exception. Check "No"
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).......
    b
    If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ........
    1b
     
     
    ........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2018?.............
    1c
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2018, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2018?.............
    If "Yes," list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer "No" and attach statement—see instructions.) ..............
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year?......................
    b
    If "Yes," did it have excess business holdings in 2018 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2018.)..................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2018?
    4b
     
    No
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 6
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required (continued)
    5a
    During the year did the foundation pay or incur any amount to:
    Yes
    No
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive?.............
    (3) Provide a grant to an individual for travel, study, or other similar purposes?
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? See instructions................
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals?.....
    b
    If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ......
    5b
     
     
    .........bullet
    c
    If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant?..........
    If "Yes," attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract?.....................
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
    6b
     
    No
    If "Yes" to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    b
    If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? ....
    7b
     
     
    8
    Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
    excess parachute payment during the year? .................
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
    other allowances
    MUNEER A SATTER TRUSTEE
    1.00     		0 0 0
    676 N MICHIGAN AVE SUITE 4000
    CHICAGO,IL60611
    KRISTEN HERTEL TRUSTEE
    1.00     		0 0 0
    676 N MICHIGAN AVE SUITE 4000
    CHICAGO,IL60611
    SATTER MANAGEMENT CO LP INVESTMENT MANAGEMENT SERVICE PROVIDER
    1.00     		435,894 0 0
    676 N MICHIGAN AVE SUITE 4000
    CHICAGO,IL60611
    SATTER INVESTMENT MANAGEMENT LLC ADMINISTRATION SERVICE PROVIDER
    1.00     		158,969 0 0
    676 N MICHIGAN AVE SUITE 4000
    CHICAGO,IL60611
    2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
    NONE
    Total number of other employees paid over $50,000...................bullet 0
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 7
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors (continued)
    3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    NONE
    Total number of others receiving over $50,000 for professional services.............bullet0
    Part IX-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1  
    2  
    3  
    4  
    Part IX-B
    Summary of Program-Related Investments (see instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet0
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 8
    Part X
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,see instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    14,897,385
    b
    Average of monthly cash balances.......................
    1b
    3,477,786
    c
    Fair market value of all other assets (see instructions)................
    1c
    17,943,847
    d
    Total (add lines 1a, b, and c).........................
    1d
    36,319,018
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
    0
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    36,319,018
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    544,785
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    35,774,233
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    1,788,712
    Part XI
    Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    1,788,712
    2a
    Tax on investment income for 2018 from Part VI, line 5......
    2a
     
    b
    Income tax for 2018. (This does not include the tax from Part VI.)...
    2b
    201
    c
    Add lines 2a and 2b............................
    2c
    201
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    1,788,511
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    1,788,511
    6
    Deduction from distributable amount (see instructions).................
    6
    0
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...
    7
    1,788,511
    Part XII
    Qualifying Distributions (see instructions)
    1
    Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
    a
    Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
    1a
    5,503,661
    b
    Program-related investments—total from Part IX-B..................
    1b
    0
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
     
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    5,503,661
    5
    Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment
    income. Enter 1% of Part I, line 27b. See instructions.................
    5
    0
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    5,503,661
    Note: The amount on line 6 will be used in Part V, column (b), in subsequent years when calculating whether the foundation qualifies for
    the section 4940(e) reduction of tax in those years.
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 9
    Part XIII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2017     		(c)
    2017     		(d)
    2018
    1 Distributable amount for 2018 from Part XI, line 7 1,788,511
    2 Undistributed income, if any, as of the end of 2018:
    a Enter amount for 2017 only....... 0
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2018:
    a From 2013...... 3,048,087
    b From 2014...... 3,598,880
    c From 2015...... 3,778,807
    d From 2016...... 3,455,107
    e From 2017...... 3,924,298
    fTotal of lines 3a through e........ 17,805,179
    4Qualifying distributions for 2018 from Part
    XII, line 4: bullet$ 5,503,661
    a Applied to 2017, but not more than line 2a 0
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		0
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		0
    d Applied to 2018 distributable amount..... 1,788,511
    e Remaining amount distributed out of corpus 3,715,150
    5 Excess distributions carryover applied to 2018. 0 0
    (If an amount appears in column (d), the
    same amount must be shown in column (a).)
    6Enter the net total of each column as
    indicated below:
    a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 21,520,329
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		0
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		0
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		0
    e Undistributed income for 2017. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2018. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2019 ..........     		0
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		0
    8 Excess distributions carryover from 2013 not
    applied on line 5 or line 7 (see instructions) ...     		3,048,087
    9Excess distributions carryover to 2019.
    Subtract lines 7 and 8 from line 6a ......     		18,472,242
    10 Analysis of line 9:
    a Excess from 2014.... 3,598,880
    b Excess from 2015.... 3,778,807
    c Excess from 2016.... 3,455,107
    d Excess from 2017.... 3,924,298
    e Excess from 2018.... 3,715,150
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 10
    Part XIV
    Private Operating Foundations (see instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2018, enter the date of the ruling....... bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2018 (b) 2017 (c) 2016 (d) 2015
             
    b 85% of line 2a .........          
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ..........     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		         
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XV
    Supplementary Information (Complete this part only if the foundation had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    MUNEER A SATTER
    KRISTEN HERTEL
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or email address of the person to whom applications should be addressed:
    bThe form in which applications should be submitted and information and materials they should include:
    cAny submission deadlines:
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 11
    Part XV
    Supplementary Information (continued)
    3 Grants and Contributions Paid During the Year or Approved for Future Payment
    Recipient If recipient is an individual,
    show any relationship to
    any foundation manager
    or substantial contributor
    		 Foundation
    status of
    recipient     		Purpose of grant or
    contribution     		Amount
    Name and address (home or business)
    aPaid during the year
    100 CLUB OF CHICAGO
    875 N MICHIGAN AVENUE SUITE 1351
    CHICAGO,IL60611     		NONE PC SUPPORTING & HONORING VETERANS 1,000
    ABOVE & BEYOND FAMILY RECOVERY CENTER
    2942 W LAKE ST
    CHICAGO,IL60612     		NONE PC PROVIDING HEALTH & HUMAN SERVICES 15,000
    ACADEMY FOR URBAN SCHOOL LEADERSHIP
    3400 N AUSTIN AVENUE
    CHICAGO,IL60634     		NONE PC PROVIDING EDUCATIONAL OPPORTUNITIES 50,000
    ACCELERATE INSTITUTE
    328 S JEFFERSON STREET SUITE 570
    CHICAGO,IL60661     		NONE PC PROVIDING EDUCATIONAL OPPORTUNITIES 175,000
    ALLIANCE FOR EARLY CHILDHOOD
    1235 OAK STREET
    WINNETKA,IL60093     		NONE PC PROVIDING EDUCATIONAL OPPORTUNITIES 500
    AMERI CARES FOUNDATION
    88 HAMILTON AVENUE
    STAMFORD,CT06902     		NONE PC PROMOTING HUMAN RIGHTS & DEMOCRACY 100,000
    AMERICAN ENTERPRISE INSTITUTE
    1150 17TH STREET NW
    WASHINGTON,DC20036     		NONE PC PROMOTING HUMAN RIGHTS & DEMOCRACY 200,000
    AMERICAN JEWISH COMMITTEE
    55 E MONROE STREET SUITE 2930
    CHICAGO,IL60603     		NONE PC PROMOTING HUMAN RIGHTS & DEMOCRACY 10,000
    AMERICAN KIDNEY FUND
    180 N WABASH AVENUE 320
    CHICAGO,IL60601     		NONE PC PROVIDING HEALTH & HUMAN SERVICES 5,000
    ANN & ROBERT LURIE CHILDREN'S HOSPITAL
    225 E CHICAGO AVENUE
    CHICAGO,IL60601     		NONE PC PROVIDING HEALTH & HUMAN SERVICES 10,000
    BEREA COLLEGE
    101 CHESTNUT STREET
    BEREA,KY40403     		NONE PC PROVIDING EDUCATIONAL OPPORTUNITIES 10,000
    BETTER GOVERNMENT ASSOCIATION
    223 W JACKSON BLVD 300
    CHICAGO,IL60606     		NONE PC PROMOTING HUMAN RIGHTS & DEMOCRACY 5,000
    BEYOND SPORTS FOUNDATION
    1350 OLD SKOKIE VALLEY ROAD SUITE
    205
    HIGHLAND PARK,IL60035     		NONE PC PROVIDING EDUCATIONAL OPPORTUNITIES 50,000
    BUSINESS EXECUTIVES FOR NATIONAL SECURITY
    1030 15TH STREET NW SUITE 200 EAST
    WASHINGTON,DC20005     		NONE PC PROMOTING HUMAN RIGHTS & DEMOCRACY 25,000
    CENTER FOR SAFETY AND CHANGE
    9 JOHNSONS LANE
    NEW CITY,NY10956     		NONE PC PROVIDING HEALTH & HUMAN SERVICES 5,000
    CHALLENGED ATHLETES FOUNDATION
    9591 WAPLES STREET
    SAN DIEGO,CA92121     		NONE PC SUPPORTING & HONORING VETERANS 5,000
    CHI PSI EDUCATIONAL TRUST
    45 RUTLEDGE STREET
    NASHVILLE,TN37210     		NONE PC PROVIDING EDUCATIONAL OPPORTUNITIES 1,000
    CHICAGO SHAKESPEARE THEATER
    800 E GRAND AVENUE
    CHICAGO,IL60611     		NONE PC SUPPORTING THE ARTS 10,000
    CHICAGO SYMPHONY ORCHESTRA
    220 S MICHIGAN AVENUE
    CHICAGO,IL60604     		NONE PC SUPPORTING THE ARTS 5,000
    CHICAGO ZOOLOGICAL SOCIETY
    3300 GOLF ROAD
    BROOKFIELD,IL60513     		NONE PC PROTECTING THE ENVIRONMENT & SPECIES 5,000
    CHILD MIND INSTITUTE
    445 PARK AVENUE
    NEW YORK,NY10022     		NONE PC PROVIDING HEALTH & HUMAN SERVICES 25,000
    COMMITTEE TO UNLEASH PROSPERITY
    301 TAHMORE DRIVE
    FAIRFIELD,CT06825     		NONE PC PROMOTING HUMAN RIGHTS & DEMOCRACY 50,000
    COMPREHENSIVE DEVELOPMENT INC
    240 2ND AVENUE
    NEW YORK,NY10003     		NONE PC PROVIDING EDUCATIONAL OPPORTUNITIES 5,000
    COUNCIL ON FOREIGN RELATIONS
    58 EAST 68TH STREET
    NEW YORK,NY10065     		NONE PC PROMOTING HUMAN RIGHTS & DEMOCRACY 5,000
    COUNSELING CENTER OF NORTHSHORE
    992 1/2 GREEN BAY ROAD
    WINNETKA,IL60093     		NONE PC PROVIDING HEALTH & HUMAN SERVICES 6,500
    DETROIT EMPLOYMENT SOLUTIONS CORP
    440 E CONGRESS STREET
    DETROIT,MI48226     		NONE PC PROMOTING HUMAN RIGHTS & DEMOCRACY 10,000
    DOCTORS WITHOUT BORDERS
    333 7TH AVENUE
    NEW YORK,NY10001     		NONE PC PROVIDING HEALTH & HUMAN SERVICES 100,000
    EDIFY
    10590 W OCEAN AIR DRIVE SUITE 300
    SAN DIEGO,CA92130     		NONE PC PROVIDING EDUCATIONAL OPPORTUNITIES 100,000
    END RAPE ON CAMPUS
    1440 G STREET NW
    WASHINGTON,DC20005     		NONE PC PROVIDING HEALTH & HUMAN SERVICES 25,000
    FAIR VIEW FOUNDATION
    PO BOX 6231
    ROANOKE,VA24017     		NONE PC PROVIDING HUMAN SERVICES 1,000
    FAMILY FOCUS
    4145 W ARMITAGE AVENUE
    CHICAGO,IL60637     		NONE PC PROVIDING HEALTH & HUMAN SERVICES 1,000
    FIDELITY CHARITABLE GIFT FUND
    200 SEAPORT BLVD MAIL ZONE NCW4B
    BOSTON,MA02210     		NONE PC GENERAL FUNDING 480,000
    GATEWAY FOR CANCER RESEARCH
    1336 BASSWOOD ROAD
    SCHAUMBERG,IL60173     		NONE PC PROVIDING HEALTH & HUMAN SERVICES 100,000
    GREATER CHICAGO FOOD DEPOSITORY
    4100 W 42ND PLACE
    CHICAGO,IL60632     		NONE PC PROVIDING HEALTH & HUMAN SERVICES 25,000
    HARVARD BUSINESS SCHOOL
    HARVARD UNIVERSITY
    BOSTON,MA02163     		NONE PC PROVIDING EDUCATIONAL OPPORTUNITIES 100,000
    HARVARD LAW SCHOOL
    1563 MASSACHUSETTES AVENUE
    CAMBRIDGE,MA02138     		NONE PC PROVIDING EDUCATIONAL OPPORTUNITIES 100,000
    HUMAN RIGHTS WATCH
    440 N WELLS STREET SUITE 200
    CHICAGO,IL60654     		NONE PC PROVIDING HUMAN RIGHTS & DEMOCRACY 100,000
    ILLINOIS POLICY INSTITUTE
    190 S LASALLE STREET SUITE 1500
    CHICAGO,IL60603     		NONE PC BUILDING FINANCIAL STABILITY & OPPORTUNITY 25,000
    INVEST FOR KIDS
    875 N MICHIGAN AVENUE SUITE 3400
    CHICAGO,IL60611     		NONE PC BUILDING FINANCIAL STABILITY & OPPORTUNITY 25,000
    JOFFREY BALLET
    4031 S RACINE AVENUE
    CHICAGO,IL60609     		NONE PC SUPPORTING THE ARTS 100,000
    JUNIOR ACHIEVEMENT OF CHICAGO
    651 WASHINGTON BLVD SUITE 404
    CHICAGO,IL60661     		NONE PC PROVIDING EDUCATIONAL OPPORTUNITIES 5,000
    KIPP ASCEND MIDDLE SCHOOL
    1440 S CHRISTIANA AVENUE
    CHICAGO,IL60623     		NONE PC PROVIDING EDUCATIONAL OPPORTUNITIES 25,000
    LAKE FOREST COUNTRY DAY SCHOOL
    145 SOUTH GREEN BAY ROAD
    LAKE FOREST,IL60045     		NONE PC PROVIDING EDUCATIONAL OPPORTUNITIES 75,000
    MARINE CORPS SCHOLARSHIP FOUNDATION
    1160 ALEXANDER COURT
    CARY,IL60013     		NONE PC SUPPORTING & HONORING VETERANS 25,000
    MAYO FOUNDATION
    200 FIRST STREET SW
    ROCESTER,MN55905     		NONE PC PROVIDING HEALTH & HUMAN SERVICES 25,000
    MILKEN INSTITUTE
    1250 FOURTH STREET
    SANTA MONICA,CA90401     		NONE PC PROVIDING EDUCATIONAL OPPORTUNITIES 100,000
    MOUNT SINAI MEDICAL CENTER FRIEDMAN BRAIN INSTITUTE
    1 GUSTAVE L LEVY PLACE
    NEW YORK,NY10029     		NONE PC PROVIDING HEALTH & HUMAN SERVICES 100,000
    NATURE CONSERVANCY
    4245 NORTH FAIRFAX DRIVE SUITE 100
    ARLINGTON,VA22203     		NONE PC PROTECTING THE ENVIRONMENT & SPECIES 510,000
    NAVY SEAL FOUNDATION
    1619 D STREET
    VIRGINIA BEACH,VA23459     		NONE PC SUPPORTING & HONORING VETERANS 110,000
    NEW ENGLAND DISABLED SPORTS
    39 LOON BROOK ROAD
    LINCOLN,NH03251     		NONE PC SUPPORTING & HONORING VETERANS 5,000
    NEW VENTURE FUND
    1201 CONNECTICTU AVENUE NW SUITE
    300
    WASHINGTON,DC20036     		NONE PC PROMOTING HUMAN RIGHTS & DEMOCRACY 50,000
    NOBLE NETWORK OF CHARTER SCHOOLS
    17 N STATE STREET
    CHICAGO,IL60602     		NONE PC PROVIDING EDUCATIONAL OPPORTUNITIES 100,000
    NORTHSHORE UNIVERSITY HEALTH SYSTEMS FOUNDATION
    2650 RIDGE AVENUE
    EVANSTON,IL60201     		NONE PC PROVIDING HEALTH & HUMAN SERVICES 80,000
    NORTHWESTERN MEMORIAL FOUNDATION
    541 NORTH FAIRBANKS COURT SUITE 800
    CHICAGO,IL60611     		NONE PC PROVIDING HEALTH & HUMAN SERVICES 25,000
    NORTHWESTERN UNIVERSITY
    2240 CAMPUS DRIVE
    EVANSTON,IL60208     		NONE PC PROVIDING EDUCATIONAL OPPORTUNITIES 520,000
    ONE ACRE FUND
    1741 TATUM STREET
    FALCON HEIGHTS,MN55113     		NONE PC BUILDING FINANCIAL STABILITY & OPPORTUNITY 30,000
    OPPORTUNITY INTERNATIONAL
    550 W VAN BUREN STREET SUITE 200
    CHICAGO,IL60607     		NONE PC BUILDING FINANCIAL STABILITY & OPPORTUNITY 100,000
    ORBIS INTERNATIONAL
    520 8THE AVENUE 12TH FLOOR
    NEW YORK,NY10018     		NONE PC PROVIDING HEALTH & HUMAN SERVICES 25,000
    OUNCE OF PREVENTION FUND
    33 W MONROE STREET 1200
    CHICAGO,IL60603     		NONE PC PROVIDING HEALTH & HUMAN SERVICES 50,000
    PERSPECTIVES CHARTER SCHOOL
    1930 S ARCHER AVENUE
    CHICAGO,IL60616     		NONE PC PROVIDING EDUCATIONAL OPPORTUNITIES 25,000
    PRITZKER MILITARY MUSEUM & LIBRARY
    104 S MICHIGAN AVENUE
    CHICAGO,IL60603     		NONE PC SUPPORTING & HONORING VETERANS 10,000
    PRO MUJER INC
    125 MAIDEN LANE
    NEW YORK,NY10038     		NONE PC PROVIDING HEALTH & HUMAN SERVICES 2,500
    PROJECT HOOD
    6330 S MARTIN LUTHER KING DR
    CHICAGO,IL60637     		NONE PC PROVIDING HEALTH & HUMAN SERVICES 5,000
    PROSTATE CANCER FOUNDATION
    1250 FOURTH STREET
    SANTA MONICA,CO90401     		NONE PC PROVIDING HEALTH & HUMAN SERVICES 50,000
    REHABILITATION INSTITUTE OF CHICAGO
    345 E SUPERIOR STREET
    CHICAGO,IL60611     		NONE PC PROVIDING HEALTH & HUMAN SERVICES 100,000
    RESTORING THE ART INC
    1350 N LOGAN STREET
    DENVER,CO80203     		NONE PC SUPPORTING THE ARTS 18,000
    RONALD MCDONALD FOUNDATION
    110 NORTH CARPENTER STREET
    CHICAGO,IL60607     		NONE PC PROVIDING HEALTH & HUMAN SERVICES 10,000
    ROOM TO READ
    465 CALIFORNIA STREET SUITE 1000
    SAN FRANCISCO,CA94104     		NONE PC PROVIDING EDUCATIONAL OPPORTUNITIES 50,000
    RUSH UNIVERSITY MEDICAL CENTER
    1653 W CONGRESS PKWY
    CHICAGO,IL60612     		NONE PC PROVIDING HEALTH & HUMAN SERVICES 10,000
    SALVATION ARMY
    5040 N PULASKI RD
    CHICAGO,IL60630     		NONE PC BUILDING FINANCIAL STABILITY & OPPORTUNITY 25,000
    SAMA SOURCE
    2017 MISSION STREET SUITE 301
    SAN FRANCISCO,CA94110     		NONE PC BUILDING FINANCIAL STABILITY & OPPORTUNITY 25,000
    SHEDD AQUARIUM
    1200 S LAKE SHORE DR
    CHICAGO,IL60605     		NONE PC PROTECTING THE ENVIRONMENT & SPECIES 1,000
    SOLVING KIDS' CANCER
    1 E 53RD ST
    NEW YORK,NY10022     		NONE PC PROVIDING HEALTH & HUMAN SERVICES 10,000
    SPIRIT OF AMERICA
    5115 W 63RD STREET
    CHICAGO,IL60638     		NONE PC SUPPORTING & HONORING VETERANS 100,000
    SSM HEALTH CARDINAL GLENNON CHILDRENS FOUNDATION
    3800 PARK AVE
    ST LOUIS,MO63110     		NONE PC PROVIDING HEALTH & HUMAN SERVICES 20,000
    TEACH FOR AMERICA
    300 W ADAMS STREET SUITE 1000
    CHICAGO,IL60606     		NONE PC PROVIDING EDUCATIONAL OPPORTUNITIES 25,000
    THE CHICAGO COUNCIL ON GLOBAL AFFAIRS
    332 S MICHIGAN AVENUE SUITE 1100
    CHICAGO,IL60604     		NONE PC PROMOTING HUMAN RIGHTS & DEMOCRACY 50,000
    THE CHICAGO PUBLIC SAFETY ACTION COMMITTEE
    1160 N LARRABEE STREET
    CHICAGO,IL60610     		NONE PC PROMOTING HUMAN RIGHTS & DEMOCRACY 100,000
    THE GLOBAL HEALTH INITIATIVE
    1658 N MILWAUKEE AVE
    CHICAGO,IL60647     		NONE PC PROVIDING HEALTH & HUMAN SERVICES 25,000
    THE GOLDEN APPLE FOUNDATION
    8 S MICHIGAN AVE 700
    CHICAGO,IL60603     		NONE PC PROVIDING EDUCATIONAL OPPORTUNITIES 10,000
    THE TRUST FOR PUBLIC LAND
    101 MONTGOMERY STREET SUITE 900
    SAN FRANCISCO,CA94104     		NONE PC REBUILIDNG PUBLIC AREAS & ENVIRONMENT 100,000
    UNITED STATES HOLOCAUST MEMORIAL MUSEUM
    595 ELM PL
    HIGHLAND PARK,IL60035     		NONE PC PROVIDING EDUCATIONAL OPPORTUNITIES 5,000
    UNITED WAY OF METRO CHICAGO
    333 S WABASH AVENUE
    CHICAGO,IL60604     		NONE PC BUILDING FINANCIAL STABILITY & OPPORTUNITY 5,000
    US OLYMPIC & PARALYMPIC FOUNDATION
    1 OLYMPIC PLAZA
    COLORADO SPRINGS,CO80909     		NONE PC SUPPORTING THE ARTS 75,000
    WILDLIFE CONSERVATION SOCIETY
    2300 SOUTHERN BOULEVARD BRONX
    BRONX,NY10460     		NONE PC PROTECTING THE ENVIRONMENT & SPECIES 100,000
    WINNETKA HISTORICAL SOCIETY
    411 LINDEN STREET
    WINNETKA,IL60093     		NONE PC PROVIDING EDUCATIONAL OPPORTUNITIES 1,000
    WINNETKA PUBLIC SCHOOL FOUNDATION
    PO BOX 97
    WINNETKA,IL60093     		NONE PC PROVIDING EDUCATIONAL OPPORTUNITIES 3,000
    WITNESS
    80 HANSON PLACE 5TH FLOOR
    BROOKLYN,NY11217     		NONE PC PROMOTING HUMAN RIGHTS & DEMOCRACY 1,000
    WORLD BUSINESS CHICAGO
    177 N STATE STREET SUITE 500
    CHICAGO,IL60601     		NONE PC BUILDING FINANCIAL STABILITY & OPPORTUNITY 100,000
    Total .................................bullet 3a 5,092,500
    bApproved for future payment
    Total .................................bullet 3b 0
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 12
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3 Interest on savings and temporary cash
    investments ...........     		    14 30,301  
    4 Dividends and interest from securities....          
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....          
    6 Net rental income or (loss) from personal property          
    7 Other investment income.....          
    8 Gain or (loss) from sales of assets other than
    inventory ............     		    18 -3,708,390  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue:
    aINVESTMENT INCOME FROM PARTNERSHIPS     		    18 -101,526  
    bLESS: AMOUNTS REPORTED ON FORM 990-T     18 0  
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e).. 0 -3,779,615 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    -3,779,615
    (See worksheet in line 13 instructions to verify calculations.)
    Part XVI-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to
    the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
    instructions.)
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 13
    Part XVII
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
    Yes
    No
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.

    (a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
    2a
    Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
    described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
    b
    If "Yes," complete the following schedule.

    (a) Name of organization (b) Type of organization (c) Description of relationship
    Sign Here
    Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
    Bullet Bullet
    May the IRS discuss this return
    with the preparer shown below
    (see instr.)?
    Signature of officer or trustee Date Title
    Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date PTIN
    Firm's name SmallBullet
    		 Firm's EIN SmallBullet
    Firm's address SmallBullet


    		 Phone no.
    Form 990-PF (2018)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2018 AccountingFeesSchedule
    Name:
    THE SATTER FOUNDATION
    EIN:
    13-3936468
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING FEES 38,988 38,988 0 0

    TY 2018 InvestmentsCorpStockSchedule
    Name:
    THE SATTER FOUNDATION
    EIN:
    13-3936468
    Name of Stock End of Year Book Value End of Year Fair Market Value
    AERPIO THERAPEUTICS INC 1,655,072 676,722
    AKEBIA THERAPEUTICS INC 3,406,187 2,545,210
    AKEBIA THERAPEUTICS INC 1,144,015 372,141
    AKEBIA THERAPEUTICS INC 618,750 414,750
    ALBIREO PHARMA INC 495,547 592,964
    AMERICAN WELL CORPORATION 1,001,250 1,446,250
    ANNEXON INC ( SER A1 PREFERRED) 1,000,000 1,285,714
    ANNEXON INC ( SER B PREFERRED) 1,466,367 1,721,388

    TY 2018 InvestmentsOtherSchedule2
    Name:
    THE SATTER FOUNDATION
    EIN:
    13-3936468
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    GS EMPLOYEE FUND 2000 OFFSHORE AT COST 6,895 0
    GS CAPITAL PTRS V PCP FUND AT COST 639,130 61,250
    GS LOAN PTRS I EMPLOYEE FUND AT COST 35,536 21,000
    GS MEZZANINE PTRS 2006 FUND AT COST 490,804 70,060
    GS CAPITAL PTRS VI PIA FUND AT COST 445,277 1,599,599
    GS MEZZANINE PTRS V PIA FUND AT COST 631,512 123,700
    GS MBD 2011 OFFSHORE LP AT COST 240,703 809,300
    BIOMEDICAL OFFSHORE VALUE FUND AT COST 7,965 32,999
    BIOTECHNOLOGY VALUE FUND LP AT COST 39,924 31,457
    GREAT POINT PARTNERS I LP AT COST 91,585 154,259
    GREAT POINT PARTNERS II LP AT COST 421,414 867,498
    HERMITAGE GLBL CL A (SER 4&7) AT COST 260,765 1,160
    IREO FUND II, LTD AT COST 2,441,997 2,436,129
    PANGEA PROPERTIES INC AT COST 93,642 411,672
    RANE CORP AT COST 250,000 250,000
    RCP-OPPORTUNITIES FUND I LP AT COST 492,205 1,246,569
    RCP-OPPORTUNITIES FUND II LP AT COST 119,098 140,743
    REDMILE CAPITAL OS CL A SUB 7 AT COST 219,757 654,148
    REDMILE CAPITAL OS CL C AT COST 186,046 398,943
    REDWOOD OFFSHORE FUND (B) AT COST 71,519 234,740
    REX - REAL ESTATE EXCHANGE AT COST 750,000 2,258,517
    SOLAMERE CAPITAL FUND II-A, LP AT COST 1,371,937 2,005,163
    SUTTON SQUARE PARTNERS AT COST 0 140
    TPG-AXON PTRS OFFSHORE LTD AT COST 17,930 38,153
    TPG AP (OFFSHORE) INV FEE RES AT COST 5,352 947
    TSF LINQ3 BLOCKER AT COST 3,320,350 3,318,295
    TSF RESTORSEA BLOCKER AT COST 1,223,040 79,538

    TY 2018 LegalFeesSchedule
    Name:
    THE SATTER FOUNDATION
    EIN:
    13-3936468
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    LEGAL FEES 3,378 3,378 0 0


    TY 2018 OtherAssetsSchedule
    Name:
    THE SATTER FOUNDATION
    EIN:
    13-3936468
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    DISTRIBUTIONS RECEIVABLE 12,343 0 0


    TY 2018 OtherExpensesSchedule
    Name:
    THE SATTER FOUNDATION
    EIN:
    13-3936468
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    BANK FEES 995 498 0 497
    INVESTMENT MANAGEMENT FEES 381,447 381,447 0 0
    ADMINISTRATION FEES 213,416 0 0 213,416


    TY 2018 OtherIncomeSchedule2
    Name:
    THE SATTER FOUNDATION
    EIN:
    13-3936468
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    LESS: AMOUNTS REPORTED ON FORM 990-T   -3,014  
    INVESTMENT INCOME FROM PARTNERSHIPS -101,526 -100,607 0


    TY 2018 OtherProfessionalFeesSchedule
    Name:
    THE SATTER FOUNDATION
    EIN:
    13-3936468
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    CONSULTING FEES 131,590 0 0 131,590


    TY 2018 TaxesSchedule
    Name:
    THE SATTER FOUNDATION
    EIN:
    13-3936468
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FEDERAL TAXES PAID 30,000 0 0 0