Bijou san antonio santikos management2/28/2023 ![]() ![]() Many assumed that figure was closer to $300 million. It may come as a surprise to many to learn that as of Friday, the foundation reported $462.6 million under management, excluding the Santikos bequest. The Area Foundation, of course, had substantial assets under management before the Santikos bequest, with 518 donor-assisted funds now housed there. While such grants are now announced via social media, online searchable databases and timely media releases would be of greater public service.Ī SAAF website makeover, that foundation executives say is on the drawing board, will go a long way in allowing people to see how much money is flowing into the SAAF from Santikos, and how much is flowing out in total. Transparent reporting of grant-making to recipient organizations can only serve to benefit both organizations and grow public confidence, even if it leads, in some cases, to challenges to how the foundation is determining which nonprofits receive grants and which ones do not. “We need to lead with the impact we are having, including the ways we are leveraging our grants with other giving.” “We’ve led with the money, and that’s the wrong message,” Brune said. Two, exaggerated promises of grants to area nonprofits that were made by former Santikos and SAAF executives when the Santikos Charitable Foundation was first announced can give way to a new a narrative about how much is being distributed, and equally important, its community impact. I was unable to find a web posting identifying the Santikos board of directors, whose decisions in the coming years will be of significant public interest. He needs to make the case for such capital investment to a broader audience given his mandate to generate profits for charitable use. (ret.) James “Tom” Hill, the Area Foundation board’s treasurer, there is a commitment to greater transparency as new SAAF CEO Marjie French takes the helm.Ī more open approach with the public makes sense for several reasons: Handren is bullish on growing Santikos Entertainment and obtaining the capital to do so via strategic real estate sales. Given what I heard Friday from Handren, Brune, and U.S. It will be up to foundation directors to decide how much information is shared with the media and the public, he said. A realistic book value will be presented to the Santikos and SAAF boards of directors in May when Handren unveils his five-year strategic plan. That depends in part on how much Santikos Enterprises is worth today and how it fares in future years.
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