What if the essence of freedom is more profound than we think? Join us for an enlightening conversation with our guests Regina Black Lennox and Ed Satell from the Satell Institute. We delve into the fundamental principles of American democracy, the historical significance of the upcoming semi-quincentennial, and the vital role of free enterprise. Ed provides a rich historical context, comparing the U.S. governance model to monarchies, and sheds light on the continuous pursuit of democracy and innovation.
Explore the mission of the Satell Institute, a trailblazing organization dedicated to enhancing corporate social responsibility. Discover how this initiative encourages CEOs to make significant financial commitments to nonprofits, thereby addressing critical community issues. With over $74m in contributions in the Philadelphia area alone, the Institute's collaborative environment allows business leaders to learn from each other, fostering impactful community support with plans for expansion to other cities.
Finally, learn about the unique benefits that nonprofit organizations gain through their engagement with the Satell Institute. By building strong partnerships between for-profit companies and nonprofits, the Institute promotes community strength and mutual respect.
About Ed:
An innovative entrepreneur and principled business and civic leader for more than 60 years, Ed Satell founded and served as CEO and Chairman of a multi-division media ecommerce provider headquartered in the Philadelphia region. His company has been well-known for a strong, supportive culture of accountability and dedication to Corporate Social Responsibility (CSR). Today, Ed’s vision and energy are dedicated to the Satell Institute, a Think and Do Tank Dedicated to CSR. In 2016, at age 80, rather than retiring, Ed chose to create this unique independent, nonpartisan, nonprofit grounded in free enterprise principles, and he fully endowed the Institute with $15m, so there are no fees or dues to participate. Ed’s vision for serving the greater good—think WE, not just me—continues to grow and thrive.
satellinstitute.org
linkedin.com/in/ed-satell-86a29996
About Regina:
Regina is the Executive VP & Chief of Staff at The Satell Institute.
linkedin.com/in/regina-black-lennox-aa39b61
This episode is brought to you by The Satell Institute; the leading CEO organization dedicated to Corporate Social Responsibility. Go to satellinstitute.org to learn more.
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Announcer (00:02):
The following programming is sponsored by Marc
J Bernstein.
The views expressed do notnecessarily reflect the views of
this station, its management orBeasley Media Group.
Entrepreneur, author andfinancial consultant, Marc
Bernstein helps high-performingentrepreneurial business owners
create a vision for the futureand follow through on their
goals and intentions andintentions.
(00:25):
Ang Onorato is a businessgrowth strategist who blends
psychology and business togetherto create conscious leaders and
business owners who impact theworld.
Founders Forum is a radio showpodcast sharing the real stories
behind entrepreneurship asfounders discover more about
themselves, while providingvaluable lessons and some fun
and entertainment for you.
Now here's Marc and Ang.
Marc Bernstein (00:45):
Good morning America.
And I say America with emphasis, because it's just after the
4th of July, which is ourIndependence Day, and we always
have a thought for the day.
And we're going to start ourthought for day with a little
bit of music, which you know Ilove, and so let's get the song
on I love, and so let's get thesong on.
(01:15):
That was Paul McCartney.
That was the song Freedom,which was not one of his best or
biggest songs.
I don't know if everyone knowsit, but it was written after
9-11 as a tribute to all theservice people, the firemen and
the police and everybody that isprotecting our freedoms here in
the US, which, as a Brit, hereally appreciates and a
(01:38):
part-time US resident, I guess.
So we have here with us againtoday Regina Black Lennox, who
is EVP of the Satell Institute,and we have Ed Satell, who's the
founder of the Satell Institute, and I won't bother going
through all the introductionsagain, but you can hear that on
part one.
But I wanted to get yourthoughts, Regina, on freedom.
(01:59):
I mean, I would just say that Ithink of when I think of
freedom.
I think of things like freedomof speech, freedom of belief,
freedom of you know, the abilityto live the way you want to
live your life without hurtinganyone else, which is where we
need the rule of law, which Iknow something is that Ed might
mention.
So you need all those thingstogether in order to have
(02:20):
freedom.
What do you think about whenyou think of freedom?
Regina Black Lennox (02:23):
I think probably I would align with a
lot of what you said, Marc.
When I think of freedom, Ithink of it as one of the
greatest gifts from ourforefathers, one of the greatest
gifts of being born in thiscountry.
The amazing Irv Borowski, whofounded the National Liberty
Museum, used to say that reallywe were the beneficiaries.
(02:43):
We benefited from lucky spermdonors because you could be born
anywhere, but being born in theUnited States was such a gift
to have those freedoms just asan innate part of your life and
to be able to grow and live withthem.
And of course, it's going to beyour own hard work, it's going
to be your own choices that youmake all those things, but we
(03:04):
have the freedom to do all ofthat.
So that's really unique in theworld.
With the semi-quincentennialcoming towards Philadelphia
right now, that's reallyexciting because we'll be the
longest running, the longestsuccessful democracy in the
history of the world.
That is remarkable.
Marc Bernstein (03:22):
It is.
I'm glad you mentioneddemocracy, because you know that
could be a dirty word today.
You know it could bepolitically charged on which
either side of the fence youmight be on, and I think that's
a shame because it's thegreatest experiment in the world
when it comes to democracy,Greatest social experiment in
the world, and one that's proven.
Regina Black Lennox (03:41):
When you talk about proof of concept, you
know look at this country thatleads the world in so so, so
much.
You talk about innovation.
The centennial was acelebration of American
innovation and today,semi-quincentennial, we're still
there.
Are a lot of people argue we'refalling behind in things,
certain things, all these things.
(04:01):
At the end of the day, we'reone country where we believe
every child should be educated.
Marc Bernstein (04:06):
Well, and if you look at reality too, the fact
is we still have the besteconomy in the world.
We still have the best, youknow, the best use of democracy,
as you know, as the experimentthat it is.
But you know we're maybefalling behind in education, in
some other areas which we needto be talking about, you know.
Regina Black Lennox (04:26):
But at the same time, we're always trying,
we're founded on principles, westill have a real value system
and, again, we educate everychild.
We don't educate the top 20percent.
We believe that everyone shouldhave a chance.
It's not equal Quality is amyth, but we're always
struggling for that version ofdemocracy.
We're always working at it andwe always have the opportunity
(04:47):
and you're going to hear from Ed.
You know his views on thisbecause he's really passionate
about all this.
It's part of what led to thefoundation and to the founding
and the setup and working withso many great thought leaders
when we started the SatellInstitute.
Marc Bernstein (05:00):
Yeah, let's absolutely hear from Ed, and I
just want to say that I knowthat you don't have free
enterprise without freedom, andfree enterprise, of course, is
one of the founding principles,so why don't you talk more about
that, ed?
Ed Satell (05:12):
Well, I'm glad to.
The freedom that we have isdifferent from the way most
countries were governed.
Most countries had a king, anemperor, a czar, somebody who
was in charge, and a familytradition that carried forth on.
That the United States was anew concept.
(05:35):
It was a concept of think wenot just me.
It was a concept of law.
Marc Bernstein (05:40):
I think I've heard that before.
Ed Satell (05:42):
by the way, it was a concept of law I think I've
heard that before, by the way.
It was a concept of law thatyou had to have the rule of law
and the rule of law applied toeveryone.
It was a concept of freedomfreedom to grow tomatoes,
freedom to start your ownbusiness, freedom to choose
(06:03):
where you went to work andfreedom to leave if you wanted
to leave that work.
So the whole concept of freedomis a wonderful concept but we
have to continue to earn it.
Our founding fathers earned it.
They went through an awful bigwar of independence and I
(06:24):
remember somebody saying give meliberty or give me death.
I think that was Patrick.
Marc Bernstein (06:28):
Henry.
Ed Satell (06:30):
And that was an amazing thing With all of our
founding fathers if they hadlost the war, they knew they
would be hung, so they werereally fighting for a new
concept, fighting for liberty,and we're the beneficiaries of
that.
Marc Bernstein (06:46):
And the Constitution.
We, the people just toemphasize the we part, it's all
about that.
So tell us that's a greatlead-in to the Satell Institute.
Do you want to tell us how youcame up with the concept for the
Institute?
Ed Satell (07:00):
Well, I was involved with philanthropy.
We had a successful businessand I always believed in giving
back, but people would ask mefor help with their philanthropy
, to be able to do what we weredoing, and they thought I could
do it in five minutes and theycould just take the idea and run
with it.
But we were busy, they werebusy and it seldom was effective
(07:23):
.
So when I thought I was goingto retire, which by the busy,
and it seldom was effective.
So when I thought I was goingto retire, which?
Marc Bernstein (07:30):
by the way, I flunked retirement.
Ed Satell (07:31):
You're continuing to do so.
I decided we would set up aninstitute that went ahead and
was for CEOs four CEOs and theywere going to go and to make
business better, to make thereputation of business better
(07:52):
even though the reputationoftentimes was good, but
oftentimes wasn't that.
They had to be more vocal ingiving back to the community.
They were the biggestrecipients of the benefits of
the community and they ought togive back since that was the
case.
Yes, Now, in business you canstart and you can fail.
(08:13):
Not all businessmen succeed ornot all businesswomen succeed,
but one of the things that canhelp with success is every
company needs two things Everycompany needs people who work
for them, who are good, andevery company needs products
(08:34):
that customers want.
They need to have customers whoare interested in that, and to
go ahead and to not think aboutthat is not helpful to your
business.
We ought to think about givingback, and I thought the easiest
way to give back was to supporta nonprofit.
Nonprofits were alreadyorganized around a mission that
(08:58):
had a problem, but they werealways short on money and I
always thought the mostimportant nonprofit of them all
was the one your family neededIf you had a child who was
depressed and what have you,then that was the biggest
problem.
If you had a family member whohad cancer, that would be the
(09:20):
biggest problem.
If somebody was having alearning problem, that would be
the biggest problem.
And somebody was having alearning problem, that would be
the biggest problem.
And there were nonprofits forall of these things dedicated
with a mission, but they neededfinancial support and I started
the Satell Institute on twobases One, it would be a CEO
organization, because only theCEOs have the power to go ahead
(09:45):
and give money to something likethat, and so I knew that if it
was done at a lower level, itcouldn't succeed.
And I brought these CEOstogether and we talked about
giving back and we establishedsome high standards.
One they had to be a member.
There were no dues, no charges,but they had a gift to a
(10:08):
nonprofit a minimum of $100,000over four years.
a minimum of $25,000 a year forfour years and they greeted it
and they liked the concept.
They liked the concept therewas no dues and they liked the
concept that they could pick thenonprofit themselves, and they
(10:30):
liked the concept that, althoughthey signed the agreement with
us both the nonprofit and thefor-profit the money would go
directly from the business tothe nonprofit, go directly from
the business to the nonprofitRight, and so this was all based
on honesty, that we had to earntheir honesty.
Regina Black Lennox (10:51):
Trust.
Ed Satell (10:51):
Trust is a big word.
Marc Bernstein (10:53):
By the way, full disclosure I'm a member of the
Satell Institute because I wasattracted to that model as well
and I think it's very powerful.
And I just want to mention youmentioned it's for CEOs.
Part of the feature today Idon't want to jump ahead, but I
know is CEOs learning from otherCEOs, and I think that's what
you were getting at in terms ofthe original concept.
Regina Black Lennox (11:12):
I'll jump in for a second and say Ed
created an atmosphere of trustso that CEOs knew that they were
in a place.
They trusted us, they trust oneanother and it's not a
competitive atmosphere.
We're really careful thatthere's no competition.
It's all focused on the greatergood, on improving the
community.
Marc Bernstein (11:30):
Well, I've gone to several conferences.
At the point, it's acooperative, collaborative
atmosphere.
Ed Satell (11:35):
So we believed that CEOs could do this, and when
they did it and got togetherwith other CEOs and learned from
other CEOs, it would makeeverybody better, and CEOs tend
to like to learn from other CEOs, hear their experiences, hear
what they're doing.
And it was nothing about thecompetition, it was nothing
(11:58):
about pricing, it was all aboutgiving back to support the
community.
Marc Bernstein (12:02):
And, by the way, I know you were a long-term
member of YPO and I think that'spart of where you learned that
right, Because that was alsoanother kind of learning from
others type of environment.
Ed Satell (12:12):
Well, ypo represented something very good and that is
one of the ways to besuccessful was who you meet and
who you hang out with, and ifyou want to be successful,
you've got to be around othersmart people and hear their
ideas.
You can't be cut off.
If you are cut off, you loseout, and so we embraced that
(12:32):
concept.
We embraced it for a narrowarea, for corporate social
responsibility, for companiesgoing ahead and giving back to
the community to make thecommunity better.
Nonprofits are the unsungheroes of a city.
You can't be a great citywithout great nonprofits,
(12:53):
because when you havehumanitarian problems, whether
it's with your family, withthose around you or with your
employees' families, they dependon nonprofits to help them
through these crisis, throughthese problems.
Some of the crisis are small,some of them are large, but
there's a nonprofit foreverything.
(13:15):
And we wanted to go ahead andhave the for-profits Take this
as a mission that they wouldsupport at least one nonprofit
to tune $100,000 over four years.
We wanted it to be four yearsbecause no company can run on a
one-year financial cycle.
They needed to have at least afour-year financial cycle, and
(13:40):
so that's how it grew and themembers loved being with each
other and hearing about whatthey were doing.
That benefited the community,that benefited their employees,
that benefited their reputation,and some of them started to
give.
Instead of one nonprofit, theydid two.
They couldn't split it.
They had to do another 100,000.
(14:01):
And some did three, four, five,six and we have companies that
do over a million dollarsthrough us giving to these
nonprofits.
All the money goes tononprofits.
Marc Bernstein (14:14):
Do you know the number?
Maybe Regina.
But since the Institute started, do you know how much money has
been given as a result?
Ed Satell (14:22):
Well, in the Philadelphia area we've given
over $74 million without anycharge for overhead, without any
dues, and 100% of the moneygoes to nonprofits.
That's amazing.
Marc Bernstein (14:38):
And you've started in other cities.
I don't want to jump ahead.
Ed Satell (14:41):
Yes, it has been so successful here in Philadelphia
it has exceeded our expectations.
We have not only a lot ofnonprofits, very diverse
nonprofits.
We have over 300 nonprofits inPhiladelphia.
Regina Black Lennox (14:56):
Almost 400 now.
Ed Satell (14:58):
And we are now expanding to other cities so
those cities can get the samebenefit that Philadelphia got.
So when it's being done inPittsburgh, it's for the benefit
of Pittsburgh.
When it's being done for NorthJersey, it's for the benefit of
North Jersey, and each area canhave its own model and by doing
(15:19):
this and expanding to itsfullest.
It'll take us years to getthere, but we think we can get
up to giving $2 trillion awayevery four years to communities,
enriching the communities andenriching everybody in it.
I want to emphasize again youcannot have a great city without
(15:43):
great nonprofits.
Emphasize again you cannot havea great city without great
nonprofits and you can't have agreat city without great free
enterprise organizations,because people want to work for
those kinds of companies.
So working together, thinkingwe not just me is a concept that
has taken hold and the peoplerejoice and the way we get our
(16:06):
members is members telling otherfriends about it Right, and
then they come to one of ourmeetings and see how it works
and I'm thrilled about what hashappened and I'm thrilled that
some of them have chosen notjust to do one but we have
companies that give the 10nonprofits that much.
Regina Black Lennox (16:26):
And as they renew, they're actually even
adding nonprofits.
We have members who have addeda nonprofit every year at
$100,000 or more.
It's hard to believe, but it'sexciting from that perspective
too.
Ed Satell (16:40):
And when they do that , they're still doing the old
ones.
Marc Bernstein (16:43):
Right, they're adding, they're not substituting
.
They're still doing the oldones, right?
No, I get it Right, they'readding.
They're not substituting.
They're adding.
Ed Satell (16:48):
But what our interest is is to have a greater city.
A greater city means more jobs.
A greater city means moreopportunities, it means more
health care, it means moreeducation, it means whatever it
is, and each company can choosewhat it wants to support and
what it wants to make better.
Marc Bernstein (17:07):
So I love that it's customized.
I love that you're taking itnational but you're keeping it
local, so it's benefiting thoseindividual communities and each
one's going to look differentthan the other city chapter and
it's brilliant.
It really is a brilliantconcept.
Ed Satell (17:22):
I'd like to add just one thing to complete this.
I don't make a nickel on this.
I know that it is giving backto the community and doing it in
a way that helps people in needand that helps make a great
city.
Marc Bernstein (17:38):
Well, may I say just before our break that you
don't make a nickel and you'vealso funded it, which is a whole
big deal.
I know you don't like to talkabout that or take credit for it
, but it's amazing what you'vedone With that.
We need to take a real quickbreak and hear about the Satell
Institute and we'll be rightback.
Announcer (17:53):
The Satell Institute is the leading CEO member
organization dedicated tocorporate social responsibility.
Under the vision and leadershipof its founder, entrepreneur
and philanthropist, ed Satell,the Institute brings together
CEOs in Philadelphia and othercities to support the nonprofit
organizations that do heroicwork in our communities.
The Satell Institute believesthat community is every leader's
(18:16):
business.
Si's members-only meetings andprivate CEO conferences give
members the opportunity to hearfrom world-class thought leaders
on crucial topics like AI,education, corporate
philanthropy and more.
In addition, ceo members getthe opportunity to share ideas
and experience with their peerslike-minded CEOs who believe in
the importance of giving back tothe community and who
(18:39):
understand the benefitscompanies get from embracing
corporate social responsibility.
The Satell Institute charges nodues or fees In order to join.
Member companies simply make along-term commitment to the
nonprofit of their choice.
To find out more aboutmembership and why so many
leading companies are now partof the Satell Institute, visit
the organization's website atsatellinstituteorg at
(19:12):
satellinstituteorg, s-a-t-e-l-linstituteorg.
Marc Bernstein (19:13):
As Ed Satell says, think we, not just me.
Think we, not just me.
Ed Satell, I love that.
We've heard that a number oftimes during the last couple of
shows.
Hey, we want to get right intotalking about.
You know, we started talkingabout freedom and free
enterprise and free enterprise.
Keep in mind that thesenonprofits are part of our free
enterprise system as well.
They're created from nothing,you know.
So when you think about this,you've got nonprofits that are
(19:35):
created, you have businessesthat are created and the
communities which are there arebenefiting, in essence,
recreating themselves throughthe work that's provided with
the funding.
So it's kind of really.
It's really an engine that runsour country in many ways.
So let's talk about this.
If a nonprofit is a member,let's talk about the benefits to
(19:57):
the member organizationnonprofit of being in the Satell
Institute.
Ed Satell (20:02):
Well, a nonprofit usually was formed by somebody
who got exposed to a problem andthey wanted to go ahead and
make it an organization thatwould support that problem.
And that's always a problemgetting people to support the
things, but that's what they doand that's what they give their
(20:23):
life to.
So our institute asksfor-profits to go ahead and
choose a nonprofit that theywant to support and they feel
it's in alignment with their ownvalues.
So we have people in allreligions and all sports and all
(20:44):
kinds of education and allkinds of medical areas who form
the nonprofits.
But they need support and we'vegiven them a reason to go ahead
and give support because it canmake their community better.
It can make their employeesfeel better about the company,
that they're not just liningtheir own pockets, they're
(21:05):
giving something back.
And the nonprofits love it andlearn to respect business
because they're working together.
And what happens?
We have conferences just forthe nonprofits, our Nonprofit.
Regina Black Lennox (21:21):
Leadership Summit, which is really exciting
.
We're the only place where allthe nonprofit missionaries all
the nonprofit missionaries,interesting enough, identified
by the United Nations arerepresented at the Institute
through our members.
We're the only place where theyall come together.
They're generally siloed eds,meds, arts and culture, whatever
but at the Satell Institutethey come together, they share
(21:45):
what they've learned, they learnfrom one another.
We go out and poll them.
In fact, this month our poll isbeginning to find out what they
need to hear this year, andthen we'll craft our entire
summit around it.
Last year, our summit waschaired by the Phillies and the
Pittsburgh Pirates hosted us inPittsburgh, which is our newest
chapter, and everyone wanted tohear about partnerships.
Marc Bernstein (22:10):
I will say one of my experiences at these
conferences in fact startingwith the first one that I went
to is I see someone I know fromone nonprofit.
The next thing I see they'retalking to someone else I know
from another nonprofit.
Sometimes I've been able tointroduce them.
I know you guys do that all thetime and it's interesting how
they're all interacting andthey're becoming community
(22:30):
within the community.
And I think you're right.
I think there is no othervehicle for them to do that, so
that's pretty amazing.
Ed Satell (22:38):
I'd like to add that we accept no government money
and we don't do any publicity.
The publicity that comes isfrom people being happy and from
people learning from each other, and that way, together we can
do so much more than we can doseparately.
Marc Bernstein (22:59):
And you really have no axe to grind, no agenda
other than corporate socialresponsibility and making
communities better in the end,which is really amazing, there's
nothing else behind it, there'snothing else around it, which
is amazing.
Ed Satell (23:13):
Well, it's the opposite of selfishness.
Marc Bernstein (23:16):
Exactly right.
Ed Satell (23:17):
It's the thing to recognize that if you want to be
in a prosperous country, youwant to be in a prosperous city.
You want to be in a prosperouscity, you want to be in a
prosperous family.
It's working together to goahead and sharing ideas, both
(23:39):
for how you make your money andhow you give some money to give
support back to the city, tomake the community better than
it was.
Marc Bernstein (23:42):
I love it.
Let's talk.
You mentioned a couple thingsabout how much money you want to
raise in the future, but you'rein the middle of an expansion.
Talk about the future visionfor the next several years of
the Satell Institute.
Ed Satell (23:54):
Well, we're opening, as we speak, nine new branches
and we have, as that goes andsucceeds, in accordance with a
plan.
Like Philadelphia did, we'llopen more.
We expect at some point to havebranches in the 50 biggest
(24:16):
metropolitan areas in thecountry and by doing that, we
think the outcome of that willbe over $2 trillion a year given
back.
And the uniqueness of that.
We think the outcome of thatwill be over $2 trillion a year
given back.
And the uniqueness of that.
Others give a lot, but it'susually somebody in charge who
has the money who decides whereit goes.
In our case, it's the memberswho decide where it goes.
(24:38):
Each one makes their owndecision on where they want it
to go and we think collectivelythat makes everything stronger
for everybody.
I judge a city in only one wayare more people of talent moving
in or are more people of talentmoving out?
If more people of talent aremoving in, it'll be an
aspirational city, and if morepeople of talent are moving out,
(25:02):
then it will be a city indecline.
So this is the kind of thingthat adds to the health and the
welfare of the city, thecommunity, the for-profits and
the non-profits.
Marc Bernstein (25:16):
It is amazing.
Again, being in some of yourboard meetings, I know that it's
all about how do we engage morepeople.
It's not about what kind ofcharities where should the money
go?
It's not because you don't haveanything to do with that, it's
just engagement.
It's getting people engaged andbeing aspirational, being
generous, being giving back andbuilding communities.
(25:37):
It's amazing.
We have about a minute and ahalf left Any other final
thoughts from either of youabout this to tell us anything
you want to get across.
Regina Black Lennox (25:45):
I think it's interesting that we've only
spread through our members weyou don't see us on in the paper
, you don't see us on TV, youdon't see us advertising.
You see and hear from someoneelse that you trust and believe
in, invite you.
And you have to be invited tobecome a member which is a
rarity factor too and then youhave to be willing to make that
commitment, really invest in onenonprofit to make a difference.
(26:07):
That's really unique because weare, at the end of the day, a
nonpartisan nonprofit,independent and my favorite
words fully endowed, thanks toEd's generosity.
Marc Bernstein (26:18):
Glad we got that in there, because it is
ultimately about Ed's generosityand his vision.
Also, I want to say from goingto the conferences, there's
people I've seen there beforethat haven't joined yet but keep
going and they're keepingengaged.
So it's like you're building afarm team for the future to use
the sports analogy again.
You're going to have a lot ofup and coming people that,
several years from now, willstart giving and start joining
(26:40):
and start emerging leaders.
Ed Satell (26:42):
Yeah, so perhaps I can.
I know we have a short time andon one quick story, yeah,
absolutely.
Every bank in this city gaveone year gifts.
Announcer (26:54):
None of them gave-year gifts.
Ed Satell (26:56):
We told them to be a member that had to change that
and give four-year gifts, andtoday every major bank in the
area is doing that and they'refinding it's beneficial for them
, for their customers and forthe community.
Marc Bernstein (27:11):
That's amazing.
So, just like that, youquadrupled the gifts, in essence
, by doing that and by the wayall the sports teams have joined
.
Ed Satell (27:19):
Yeah, and many others have joined, all with one
thought in mind Think we, notjust me?
Marc Bernstein (27:27):
And, on that closing note, what a great way
to end the show.
Thank you, Ed Satell, so muchfor your inspiration To me
personally, to all the show.
Thank you, Ed Satell, so muchfor your inspiration To me
personally, to all the peopleyou've impacted and affected.
Thank you, regina, for beingthe woman behind the man, who
does not to be gender-basedabout it, but you are the person
that makes a lot of this go.
Regina Black Lennox (27:47):
I appreciate vision Marc.
If I can empower vision, that'simportant.
Marc Bernstein (27:52):
Thanks, you're great at that.
Thank you all for being here.
Announcer (27:58):
We'll see you next week on Founders Forum.
The following programming is sponsored by Marc
J Bernstein.
The views expressed do notnecessarily reflect the views of
this station, its management orBeasley Media Group.
Entrepreneur, author andfinancial consultant, Marc
Bernstein helps high-performingentrepreneurial business owners
create a vision for the futureand follow through on their
goals and intentions andintentions.
(00:25):
Ang Onorato is a businessgrowth strategist who blends
psychology and business togetherto create conscious leaders and
business owners who impact theworld.
Founders Forum is a radio showpodcast sharing the real stories
behind entrepreneurship asfounders discover more about
themselves, while providingvaluable lessons and some fun
and entertainment for you.
Now here's Marc and Ang.
Marc Bernstein (00:45):
Good morning America.
And I say America with emphasis, because it's just after the
4th of July, which is ourIndependence Day, and we always
have a thought for the day.
And we're going to start ourthought for day with a little
bit of music, which you know Ilove, and so let's get the song
on I love, and so let's get thesong on.
(01:15):
That was Paul McCartney.
That was the song Freedom,which was not one of his best or
biggest songs.
I don't know if everyone knowsit, but it was written after
9-11 as a tribute to all theservice people, the firemen and
the police and everybody that isprotecting our freedoms here in
the US, which, as a Brit, hereally appreciates and a
(01:38):
part-time US resident, I guess.
So we have here with us againtoday Regina Black Lennox, who
is EVP of the Satell Institute,and we have Ed Satell, who's the
founder of the Satell Institute, and I won't bother going
through all the introductionsagain, but you can hear that on
part one.
But I wanted to get yourthoughts, Regina, on freedom.
(01:59):
I mean, I would just say that Ithink of when I think of
freedom.
I think of things like freedomof speech, freedom of belief,
freedom of you know, the abilityto live the way you want to
live your life without hurtinganyone else, which is where we
need the rule of law, which Iknow something is that Ed might
mention.
So you need all those thingstogether in order to have
(02:20):
freedom.
What do you think about whenyou think of freedom?
Regina Black Lennox (02:23):
I think probably I would align with a
lot of what you said, Marc.
When I think of freedom, Ithink of it as one of the
greatest gifts from ourforefathers, one of the greatest
gifts of being born in thiscountry.
The amazing Irv Borowski, whofounded the National Liberty
Museum, used to say that reallywe were the beneficiaries.
(02:43):
We benefited from lucky spermdonors because you could be born
anywhere, but being born in theUnited States was such a gift
to have those freedoms just asan innate part of your life and
to be able to grow and live withthem.
And of course, it's going to beyour own hard work, it's going
to be your own choices that youmake all those things, but we
(03:04):
have the freedom to do all ofthat.
So that's really unique in theworld.
With the semi-quincentennialcoming towards Philadelphia
right now, that's reallyexciting because we'll be the
longest running, the longestsuccessful democracy in the
history of the world.
That is remarkable.
Marc Bernstein (03:22):
It is.
I'm glad you mentioneddemocracy, because you know that
could be a dirty word today.
You know it could bepolitically charged on which
either side of the fence youmight be on, and I think that's
a shame because it's thegreatest experiment in the world
when it comes to democracy,Greatest social experiment in
the world, and one that's proven.
Regina Black Lennox (03:41):
When you talk about proof of concept, you
know look at this country thatleads the world in so so, so
much.
You talk about innovation.
The centennial was acelebration of American
innovation and today,semi-quincentennial, we're still
there.
Are a lot of people argue we'refalling behind in things,
certain things, all these things.
(04:01):
At the end of the day, we'reone country where we believe
every child should be educated.
Marc Bernstein (04:06):
Well, and if you look at reality too, the fact
is we still have the besteconomy in the world.
We still have the best, youknow, the best use of democracy,
as you know, as the experimentthat it is.
But you know we're maybefalling behind in education, in
some other areas which we needto be talking about, you know.
Regina Black Lennox (04:26):
But at the same time, we're always trying,
we're founded on principles, westill have a real value system
and, again, we educate everychild.
We don't educate the top 20percent.
We believe that everyone shouldhave a chance.
It's not equal Quality is amyth, but we're always
struggling for that version ofdemocracy.
We're always working at it andwe always have the opportunity
(04:47):
and you're going to hear from Ed.
You know his views on thisbecause he's really passionate
about all this.
It's part of what led to thefoundation and to the founding
and the setup and working withso many great thought leaders
when we started the SatellInstitute.
Marc Bernstein (05:00):
Yeah, let's absolutely hear from Ed, and I
just want to say that I knowthat you don't have free
enterprise without freedom, andfree enterprise, of course, is
one of the founding principles,so why don't you talk more about
that, ed?
Ed Satell (05:12):
Well, I'm glad to.
The freedom that we have isdifferent from the way most
countries were governed.
Most countries had a king, anemperor, a czar, somebody who
was in charge, and a familytradition that carried forth on.
That the United States was anew concept.
(05:35):
It was a concept of think wenot just me.
It was a concept of law.
Marc Bernstein (05:40):
I think I've heard that before.
Ed Satell (05:42):
by the way, it was a concept of law I think I've
heard that before, by the way.
It was a concept of law thatyou had to have the rule of law
and the rule of law applied toeveryone.
It was a concept of freedomfreedom to grow tomatoes,
freedom to start your ownbusiness, freedom to choose
(06:03):
where you went to work andfreedom to leave if you wanted
to leave that work.
So the whole concept of freedomis a wonderful concept but we
have to continue to earn it.
Our founding fathers earned it.
They went through an awful bigwar of independence and I
(06:24):
remember somebody saying give meliberty or give me death.
I think that was Patrick.
Marc Bernstein (06:28):
Henry.
Ed Satell (06:30):
And that was an amazing thing With all of our
founding fathers if they hadlost the war, they knew they
would be hung, so they werereally fighting for a new
concept, fighting for liberty,and we're the beneficiaries of
that.
Marc Bernstein (06:46):
And the Constitution.
We, the people just toemphasize the we part, it's all
about that.
So tell us that's a greatlead-in to the Satell Institute.
Do you want to tell us how youcame up with the concept for the
Institute?
Ed Satell (07:00):
Well, I was involved with philanthropy.
We had a successful businessand I always believed in giving
back, but people would ask mefor help with their philanthropy
, to be able to do what we weredoing, and they thought I could
do it in five minutes and theycould just take the idea and run
with it.
But we were busy, they werebusy and it seldom was effective
(07:23):
.
So when I thought I was goingto retire, which by the busy,
and it seldom was effective.
So when I thought I was goingto retire, which?
Marc Bernstein (07:30):
by the way, I flunked retirement.
Ed Satell (07:31):
You're continuing to do so.
I decided we would set up aninstitute that went ahead and
was for CEOs four CEOs and theywere going to go and to make
business better, to make thereputation of business better
(07:52):
even though the reputationoftentimes was good, but
oftentimes wasn't that.
They had to be more vocal ingiving back to the community.
They were the biggestrecipients of the benefits of
the community and they ought togive back since that was the
case.
Yes, Now, in business you canstart and you can fail.
(08:13):
Not all businessmen succeed ornot all businesswomen succeed,
but one of the things that canhelp with success is every
company needs two things Everycompany needs people who work
for them, who are good, andevery company needs products
(08:34):
that customers want.
They need to have customers whoare interested in that, and to
go ahead and to not think aboutthat is not helpful to your
business.
We ought to think about givingback, and I thought the easiest
way to give back was to supporta nonprofit.
Nonprofits were alreadyorganized around a mission that
(08:58):
had a problem, but they werealways short on money and I
always thought the mostimportant nonprofit of them all
was the one your family neededIf you had a child who was
depressed and what have you,then that was the biggest
problem.
If you had a family member whohad cancer, that would be the
(09:20):
biggest problem.
If somebody was having alearning problem, that would be
the biggest problem.
And somebody was having alearning problem, that would be
the biggest problem.
And there were nonprofits forall of these things dedicated
with a mission, but they neededfinancial support and I started
the Satell Institute on twobases One, it would be a CEO
organization, because only theCEOs have the power to go ahead
(09:45):
and give money to something likethat, and so I knew that if it
was done at a lower level, itcouldn't succeed.
And I brought these CEOstogether and we talked about
giving back and we establishedsome high standards.
One they had to be a member.
There were no dues, no charges,but they had a gift to a
(10:08):
nonprofit a minimum of $100,000over four years.
a minimum of $25,000 a year forfour years and they greeted it
and they liked the concept.
They liked the concept therewas no dues and they liked the
concept that they could pick thenonprofit themselves, and they
(10:30):
liked the concept that, althoughthey signed the agreement with
us both the nonprofit and thefor-profit the money would go
directly from the business tothe nonprofit, go directly from
the business to the nonprofitRight, and so this was all based
on honesty, that we had to earntheir honesty.
Regina Black Lennox (10:51):
Trust.
Ed Satell (10:51):
Trust is a big word.
Marc Bernstein (10:53):
By the way, full disclosure I'm a member of the
Satell Institute because I wasattracted to that model as well
and I think it's very powerful.
And I just want to mention youmentioned it's for CEOs.
Part of the feature today Idon't want to jump ahead, but I
know is CEOs learning from otherCEOs, and I think that's what
you were getting at in terms ofthe original concept.
Regina Black Lennox (11:12):
I'll jump in for a second and say Ed
created an atmosphere of trustso that CEOs knew that they were
in a place.
They trusted us, they trust oneanother and it's not a
competitive atmosphere.
We're really careful thatthere's no competition.
It's all focused on the greatergood, on improving the
community.
Marc Bernstein (11:30):
Well, I've gone to several conferences.
At the point, it's acooperative, collaborative
atmosphere.
Ed Satell (11:35):
So we believed that CEOs could do this, and when
they did it and got togetherwith other CEOs and learned from
other CEOs, it would makeeverybody better, and CEOs tend
to like to learn from other CEOs, hear their experiences, hear
what they're doing.
And it was nothing about thecompetition, it was nothing
(11:58):
about pricing, it was all aboutgiving back to support the
community.
Marc Bernstein (12:02):
And, by the way, I know you were a long-term
member of YPO and I think that'spart of where you learned that
right, Because that was alsoanother kind of learning from
others type of environment.
Ed Satell (12:12):
Well, ypo represented something very good and that is
one of the ways to besuccessful was who you meet and
who you hang out with, and ifyou want to be successful,
you've got to be around othersmart people and hear their
ideas.
You can't be cut off.
If you are cut off, you loseout, and so we embraced that
(12:32):
concept.
We embraced it for a narrowarea, for corporate social
responsibility, for companiesgoing ahead and giving back to
the community to make thecommunity better.
Nonprofits are the unsungheroes of a city.
You can't be a great citywithout great nonprofits,
(12:53):
because when you havehumanitarian problems, whether
it's with your family, withthose around you or with your
employees' families, they dependon nonprofits to help them
through these crisis, throughthese problems.
Some of the crisis are small,some of them are large, but
there's a nonprofit foreverything.
(13:15):
And we wanted to go ahead andhave the for-profits Take this
as a mission that they wouldsupport at least one nonprofit
to tune $100,000 over four years.
We wanted it to be four yearsbecause no company can run on a
one-year financial cycle.
They needed to have at least afour-year financial cycle, and
(13:40):
so that's how it grew and themembers loved being with each
other and hearing about whatthey were doing.
That benefited the community,that benefited their employees,
that benefited their reputation,and some of them started to
give.
Instead of one nonprofit, theydid two.
They couldn't split it.
They had to do another 100,000.
(14:01):
And some did three, four, five,six and we have companies that
do over a million dollarsthrough us giving to these
nonprofits.
All the money goes tononprofits.
Marc Bernstein (14:14):
Do you know the number?
Maybe Regina.
But since the Institute started, do you know how much money has
been given as a result?
Ed Satell (14:22):
Well, in the Philadelphia area we've given
over $74 million without anycharge for overhead, without any
dues, and 100% of the moneygoes to nonprofits.
That's amazing.
Marc Bernstein (14:38):
And you've started in other cities.
I don't want to jump ahead.
Ed Satell (14:41):
Yes, it has been so successful here in Philadelphia
it has exceeded our expectations.
We have not only a lot ofnonprofits, very diverse
nonprofits.
We have over 300 nonprofits inPhiladelphia.
Regina Black Lennox (14:56):
Almost 400 now.
Ed Satell (14:58):
And we are now expanding to other cities so
those cities can get the samebenefit that Philadelphia got.
So when it's being done inPittsburgh, it's for the benefit
of Pittsburgh.
When it's being done for NorthJersey, it's for the benefit of
North Jersey, and each area canhave its own model and by doing
(15:19):
this and expanding to itsfullest.
It'll take us years to getthere, but we think we can get
up to giving $2 trillion awayevery four years to communities,
enriching the communities andenriching everybody in it.
I want to emphasize again youcannot have a great city without
(15:43):
great nonprofits.
Emphasize again you cannot havea great city without great
nonprofits and you can't have agreat city without great free
enterprise organizations,because people want to work for
those kinds of companies.
So working together, thinkingwe not just me is a concept that
has taken hold and the peoplerejoice and the way we get our
(16:06):
members is members telling otherfriends about it Right, and
then they come to one of ourmeetings and see how it works
and I'm thrilled about what hashappened and I'm thrilled that
some of them have chosen notjust to do one but we have
companies that give the 10nonprofits that much.
Regina Black Lennox (16:26):
And as they renew, they're actually even
adding nonprofits.
We have members who have addeda nonprofit every year at
$100,000 or more.
It's hard to believe, but it'sexciting from that perspective
too.
Ed Satell (16:40):
And when they do that , they're still doing the old
ones.
Marc Bernstein (16:43):
Right, they're adding, they're not substituting
.
They're still doing the oldones, right?
No, I get it Right, they'readding.
They're not substituting.
They're adding.
Ed Satell (16:48):
But what our interest is is to have a greater city.
A greater city means more jobs.
A greater city means moreopportunities, it means more
health care, it means moreeducation, it means whatever it
is, and each company can choosewhat it wants to support and
what it wants to make better.
Marc Bernstein (17:07):
So I love that it's customized.
I love that you're taking itnational but you're keeping it
local, so it's benefiting thoseindividual communities and each
one's going to look differentthan the other city chapter and
it's brilliant.
It really is a brilliantconcept.
Ed Satell (17:22):
I'd like to add just one thing to complete this.
I don't make a nickel on this.
I know that it is giving backto the community and doing it in
a way that helps people in needand that helps make a great
city.
Marc Bernstein (17:38):
Well, may I say just before our break that you
don't make a nickel and you'vealso funded it, which is a whole
big deal.
I know you don't like to talkabout that or take credit for it
, but it's amazing what you'vedone With that.
We need to take a real quickbreak and hear about the Satell
Institute and we'll be rightback.
Announcer (17:53):
The Satell Institute is the leading CEO member
organization dedicated tocorporate social responsibility.
Under the vision and leadershipof its founder, entrepreneur
and philanthropist, ed Satell,the Institute brings together
CEOs in Philadelphia and othercities to support the nonprofit
organizations that do heroicwork in our communities.
The Satell Institute believesthat community is every leader's
(18:16):
business.
Si's members-only meetings andprivate CEO conferences give
members the opportunity to hearfrom world-class thought leaders
on crucial topics like AI,education, corporate
philanthropy and more.
In addition, ceo members getthe opportunity to share ideas
and experience with their peerslike-minded CEOs who believe in
the importance of giving back tothe community and who
(18:39):
understand the benefitscompanies get from embracing
corporate social responsibility.
The Satell Institute charges nodues or fees In order to join.
Member companies simply make along-term commitment to the
nonprofit of their choice.
To find out more aboutmembership and why so many
leading companies are now partof the Satell Institute, visit
the organization's website atsatellinstituteorg at
(19:12):
satellinstituteorg, s-a-t-e-l-linstituteorg.
Marc Bernstein (19:13):
As Ed Satell says, think we, not just me.
Think we, not just me.
Ed Satell, I love that.
We've heard that a number oftimes during the last couple of
shows.
Hey, we want to get right intotalking about.
You know, we started talkingabout freedom and free
enterprise and free enterprise.
Keep in mind that thesenonprofits are part of our free
enterprise system as well.
They're created from nothing,you know.
So when you think about this,you've got nonprofits that are
(19:35):
created, you have businessesthat are created and the
communities which are there arebenefiting, in essence,
recreating themselves throughthe work that's provided with
the funding.
So it's kind of really.
It's really an engine that runsour country in many ways.
So let's talk about this.
If a nonprofit is a member,let's talk about the benefits to
(19:57):
the member organizationnonprofit of being in the Satell
Institute.
Ed Satell (20:02):
Well, a nonprofit usually was formed by somebody
who got exposed to a problem andthey wanted to go ahead and
make it an organization thatwould support that problem.
And that's always a problemgetting people to support the
things, but that's what they doand that's what they give their
(20:23):
life to.
So our institute asksfor-profits to go ahead and
choose a nonprofit that theywant to support and they feel
it's in alignment with their ownvalues.
So we have people in allreligions and all sports and all
(20:44):
kinds of education and allkinds of medical areas who form
the nonprofits.
But they need support and we'vegiven them a reason to go ahead
and give support because it canmake their community better.
It can make their employeesfeel better about the company,
that they're not just liningtheir own pockets, they're
(21:05):
giving something back.
And the nonprofits love it andlearn to respect business
because they're working together.
And what happens?
We have conferences just forthe nonprofits, our Nonprofit.
Regina Black Lennox (21:21):
Leadership Summit, which is really exciting
.
We're the only place where allthe nonprofit missionaries all
the nonprofit missionaries,interesting enough, identified
by the United Nations arerepresented at the Institute
through our members.
We're the only place where theyall come together.
They're generally siloed eds,meds, arts and culture, whatever
but at the Satell Institutethey come together, they share
(21:45):
what they've learned, they learnfrom one another.
We go out and poll them.
In fact, this month our poll isbeginning to find out what they
need to hear this year, andthen we'll craft our entire
summit around it.
Last year, our summit waschaired by the Phillies and the
Pittsburgh Pirates hosted us inPittsburgh, which is our newest
chapter, and everyone wanted tohear about partnerships.
Marc Bernstein (22:10):
I will say one of my experiences at these
conferences in fact startingwith the first one that I went
to is I see someone I know fromone nonprofit.
The next thing I see they'retalking to someone else I know
from another nonprofit.
Sometimes I've been able tointroduce them.
I know you guys do that all thetime and it's interesting how
they're all interacting andthey're becoming community
(22:30):
within the community.
And I think you're right.
I think there is no othervehicle for them to do that, so
that's pretty amazing.
Ed Satell (22:38):
I'd like to add that we accept no government money
and we don't do any publicity.
The publicity that comes isfrom people being happy and from
people learning from each other, and that way, together we can
do so much more than we can doseparately.
Marc Bernstein (22:59):
And you really have no axe to grind, no agenda
other than corporate socialresponsibility and making
communities better in the end,which is really amazing, there's
nothing else behind it, there'snothing else around it, which
is amazing.
Ed Satell (23:13):
Well, it's the opposite of selfishness.
Marc Bernstein (23:16):
Exactly right.
Ed Satell (23:17):
It's the thing to recognize that if you want to be
in a prosperous country, youwant to be in a prosperous city.
You want to be in a prosperouscity, you want to be in a
prosperous family.
It's working together to goahead and sharing ideas, both
(23:39):
for how you make your money andhow you give some money to give
support back to the city, tomake the community better than
it was.
Marc Bernstein (23:42):
I love it.
Let's talk.
You mentioned a couple thingsabout how much money you want to
raise in the future, but you'rein the middle of an expansion.
Talk about the future visionfor the next several years of
the Satell Institute.
Ed Satell (23:54):
Well, we're opening, as we speak, nine new branches
and we have, as that goes andsucceeds, in accordance with a
plan.
Like Philadelphia did, we'llopen more.
We expect at some point to havebranches in the 50 biggest
(24:16):
metropolitan areas in thecountry and by doing that, we
think the outcome of that willbe over $2 trillion a year given
back.
And the uniqueness of that.
We think the outcome of thatwill be over $2 trillion a year
given back.
And the uniqueness of that.
Others give a lot, but it'susually somebody in charge who
has the money who decides whereit goes.
In our case, it's the memberswho decide where it goes.
(24:38):
Each one makes their owndecision on where they want it
to go and we think collectivelythat makes everything stronger
for everybody.
I judge a city in only one wayare more people of talent moving
in or are more people of talentmoving out?
If more people of talent aremoving in, it'll be an
aspirational city, and if morepeople of talent are moving out,
(25:02):
then it will be a city indecline.
So this is the kind of thingthat adds to the health and the
welfare of the city, thecommunity, the for-profits and
the non-profits.
Marc Bernstein (25:16):
It is amazing.
Again, being in some of yourboard meetings, I know that it's
all about how do we engage morepeople.
It's not about what kind ofcharities where should the money
go?
It's not because you don't haveanything to do with that, it's
just engagement.
It's getting people engaged andbeing aspirational, being
generous, being giving back andbuilding communities.
(25:37):
It's amazing.
We have about a minute and ahalf left Any other final
thoughts from either of youabout this to tell us anything
you want to get across.
Regina Black Lennox (25:45):
I think it's interesting that we've only
spread through our members weyou don't see us on in the paper
, you don't see us on TV, youdon't see us advertising.
You see and hear from someoneelse that you trust and believe
in, invite you.
And you have to be invited tobecome a member which is a
rarity factor too and then youhave to be willing to make that
commitment, really invest in onenonprofit to make a difference.
(26:07):
That's really unique because weare, at the end of the day, a
nonpartisan nonprofit,independent and my favorite
words fully endowed, thanks toEd's generosity.
Marc Bernstein (26:18):
Glad we got that in there, because it is
ultimately about Ed's generosityand his vision.
Also, I want to say from goingto the conferences, there's
people I've seen there beforethat haven't joined yet but keep
going and they're keepingengaged.
So it's like you're building afarm team for the future to use
the sports analogy again.
You're going to have a lot ofup and coming people that,
several years from now, willstart giving and start joining
(26:40):
and start emerging leaders.
Ed Satell (26:42):
Yeah, so perhaps I can.
I know we have a short time andon one quick story, yeah,
absolutely.
Every bank in this city gaveone year gifts.
Announcer (26:54):
None of them gave-year gifts.
Ed Satell (26:56):
We told them to be a member that had to change that
and give four-year gifts, andtoday every major bank in the
area is doing that and they'refinding it's beneficial for them
, for their customers and forthe community.
Marc Bernstein (27:11):
That's amazing.
So, just like that, youquadrupled the gifts, in essence
, by doing that and by the wayall the sports teams have joined
.
Ed Satell (27:19):
Yeah, and many others have joined, all with one
thought in mind Think we, notjust me?
Marc Bernstein (27:27):
And, on that closing note, what a great way
to end the show.
Thank you, Ed Satell, so muchfor your inspiration To me
personally, to all the show.
Thank you, Ed Satell, so muchfor your inspiration To me
personally, to all the peopleyou've impacted and affected.
Thank you, regina, for beingthe woman behind the man, who
does not to be gender-basedabout it, but you are the person
that makes a lot of this go.
Regina Black Lennox (27:47):
I appreciate vision Marc.
If I can empower vision, that'simportant.
Marc Bernstein (27:52):
Thanks, you're great at that.
Thank you all for being here.
Announcer (27:58):
We'll see you next week on Founders Forum.
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