Square One Foundation
Square One Foundation is a family foundation based in Chicago, Illinois, focused on expanding access to economic and social opportunity for all Chicagoans. The organization is a 501(c)(3) tax-exempt entity that has been operating since its founding in 2007, though it received its tax-exempt designation in July 1961. The foundation operates with a small staff and maintains an active grantmaking program.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
—
Annual Giving
$7.2M
+38.6% YoY
Grant Count
77
+5.5% YoY
Avg Grant Size
$94K
+31.4% YoY
Mission & Focus Areas
Square One Foundation's mission centers on expanding access to economic and social opportunity for all Chicagoans. The foundation envisions a future in Chicago that is more equitable by bringing together people from across the city to ensure everyone has a voice in shaping their future.
The foundation's work is guided by the principle of tikkun olam (repairing the world), emphasizing the importance of improving communities and the country through acts of kindness and social justice. The foundation has recently refreshed its mission statement, program goals, and grantmaking guidelines to better reflect its commitment to justice and equity for all.
Historically, the foundation has provided support for Jewish federated giving programs, Jewish agencies, higher education, and human services.
Grantmaking
Square One Foundation maintains an active grantmaking program. In fiscal year 2024, the foundation made grants totaling approximately $4.7 million across more than 60 grants.
How to Apply
for new applicants.
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Geographic Focus
Where this funder awards grants
The foundation's primary geographic focus is Chicago, Illinois, with a commitment to serving all Chicagoans.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
Fiscal Year 2024:
- Total Revenue: $16,078,065
- Total Expenses: $9,381,955
- Total Assets: $76,454,986
- Total Liabilities: $1,490,000
Revenue Breakdown (2024):
- Grants and contributions: $7,800,000
- Investment income and dividends: $1,730,927
The foundation's revenues increased significantly in 2024, with grants and contributions rising 41.8% from the prior year and investment income increasing 48.5%.
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | — | — | — |
| Revenue | — | — | — |
| Expenses | — | — | — |
| Qualifying Distributions | — | — | — |
| Net Investment Income | — | — | — |
| Distributable Amount | — | — | — |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
215 grants across all recorded years
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Leadership team and compensation from IRS filings
Key leadership includes:
- Priscilla Kersten - President
- Mae Hong - Managing Director (part-time, through her venture Alchemize LLC)
- Tia Rashke - President (as of recent updates)
The foundation employs 4 staff members.
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| PRISCILLA KERSTEN | PRESIDENT | 2 | — |
| BENJAMIN KERSTEN | VICE PRESIDENT | — | — |
| STEVEN A KERSTEN | SECRETARY TREASURY | — | — |
Recent News & Activity
Recent developments and announcements
In 2025, Square One Foundation announced a refreshed mission statement, updated program goals, revised grantmaking guidelines, and a restructured application process for new applicants.
Updates from the Square One Foundation \u2014 Square One FoundationThe foundation signed onto the Trust-Based Philanthropy Project's "Meet the Moment" commitment, reflecting its dedication to supporting grantees during challenging times and its commitment to justice and equity.
In a message to stakeholders, foundation leadership emphasized that while the foundation remains committed to its core values, it has undergone a strategic process of reflection and pivoting to clarify its role in protecting vulnerable communities and advancing a more just and equitable future.
Updates from the Square One Foundation \u2014 Square One FoundationRelated Funders
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Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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