A Promise to Irene: Honoring Sherman and Kimiko Petersen’s Legacy
A Conversation with Bob Satter, Irene Area Community Foundation
In small towns across South Dakota, the heart of community life often beats strongest through the people who care deeply about their neighbors. In Irene, South Dakota, that spirit shines through the story of Bob Satter, and his relationship with Sherman and Kimiko Petersen, whose generosity will continue to shape the lives of local students and families for generations to come.
Bob Satter, chair of the Irene Area Community Foundation (IACF), recently sat down with Jeff Veltkamp, Director of Development for South Dakota Community Foundation (SDCF). In this conversation, Bob shared how a simple phone call nearly two decades ago grew into one of the most impactful gifts in his community’s history.
A Foundation for Community
Bob and his wife, Barb, moved to Irene in 1976. As a banker and lifelong community builder, Bob had a calling to invest in the Irene community. After successfully chairing projects to build community infrastructure, Bob saw the potential for a community foundation that could meet local needs beyond what city budgets could manage. “We needed something to generate funds to provide things the city wasn’t able to do,” he explained.
That idea became reality in 2006 when IACF was established under the umbrella of SDCF. The IACF has since supported projects like fire department equipment, library and community center improvements, park and ballfield upgrades and scholarships for local students. “We’ve given over $150,000 in scholarships to Irene-Wakonda graduates,” Bob shared, “and that’s only the beginning.”
The Call That Changed Everything
In 2007, as the new foundation worked to meet a fundraising goal to qualify for matching funds from SDCF, Bob received a call from an Irene alumnus living in Michigan, Sherman Petersen, Class of 1944.
“He asked how close we were to our goal,” Bob recalled. “I told him we were about $32,000 short. He said, ‘I’ll give you the $32,000, and we’ll start a scholarship fund.’”
That gift launched what would later become the Sherman and Kimiko Petersen Promise Scholarship, supporting students pursuing higher education. Over time, Sherman continued contributing to the fund and kept in touch with Bob. “He was an interesting fellow. Conservative, cautious, but for some reason, he took a liking to me,” Bob said with a smile.
A Promise Fulfilled
Sherman and his wife, Kimiko, shared a deep commitment to education and to the Irene community. Inspired by the Kalamazoo Promise near their home in Michigan, Sherman wanted to offer a similar opportunity to graduates of his hometown. “He wanted to go back to his hometown and provide something like what those people in Kalamazoo did,” Bob explained.
After Sherman’s passing in 2021, Bob helped Kimiko navigate estate matters. She was determined to honor Sherman’s wishes. When Kimiko passed away in 2024, she left a remarkable legacy to IACF. Kimiko’s trust designated significant funds to support the Sherman and Kimiko Promise Scholarship, IACF, Kellogg Community College and a children’s hospital.
Investing in Irene’s Future
The impact of this gift will be transformative. It will support scholarships to every Irene-Wakonda graduating senior pursuing their education. In addition, $1 million will help create “The Sherman and Kimiko Promise to Irene,” a fund for community infrastructure and housing development, just as Sherman envisioned.
“It comes at the perfect time,” Bob said. “The city is planning new residential development, and these funds will help with streets, water and sewer. It’s going to make Irene an even more inviting place to live.”
The Power of Persistence and Connection
Reflecting on decades of community work and the long friendship that sparked this extraordinary gift, Bob said, “You have to be persistent in your efforts. It’s about relationships, and how we build and maintain them.”
From one $32,000 donation to a $5 million legacy, the Petersen’s story is a testament to what’s possible when generosity meets vision. “There are people out there with the capacity to help,” Bob shared. “Whether it’s $100 or $1 million, every gift matters.”
For Bob, philanthropy goes beyond financial giving. “It’s about your time, your leadership and your talents,” he reflected. “My goal was always to make Irene a better place than when I came here. That’s my form of philanthropy.”
Lasting Promise
Thanks to the generosity of Sherman and Kimiko Petersen and the leadership of community members like Bob Satter, Irene’s future is bright. Their story captures what SDCF was created to do--connect generosity with need to strengthen communities for generations to come.
To learn more about the Irene Area Community Foundation and the Sherman and Kimiko Promise Scholarship, visit: www.sdcommunityfoundation.org/local-impact/community-foundations/irene