Founded in 1985, the Foundation has made over 1,700 grants totaling more than $27 million to a wide range of orginizations. The Foundation is one of the largest private foundations in Greater Cincinnati and awarded 114 grants totaling $2,188,392 in the 2006-07 grant year.

The Foundation preserves the memory of the philanthropic commitment of Charles Dater and his ancestors. His great grandfather, Adam Dater, emigrated from Germany and settled in Cincinnati in 1830. Hard work and business acumen were hallmarks of succeeding generations of Dater family members, who generously shared their success with their community. A Cincinnati high school is named in honor of Gilbert Dater, grandfather of Charles. Charles made the dicision in the mid-1980's to establish a foundation to preserve the family's memory and to ensure that funding for worthwhile community programs would continue.