# The Coleman Foundation

The Coleman Foundation is a Foundation based in Chicago, United States.

## Overview

- **Organization type:** Foundation
- **Headquarters:** Chicago, United States
- **Region:** North America
- **Address:** 20 N Wacker Dr Ste 3410, Chicago, IL 60606, United States
- **Founded:** 1951
- **Assets under management:** $150M–$250M (Altss estimate)
- **Website:** colemanfoundation.org
- **LinkedIn:** https://www.linkedin.com/company/the-coleman-foundation

## Regulatory record

- **Reports private funds:** No

## About

The Coleman Foundation was established in 1951 by entrepreneurs Dorothy W. and J.D. Stetson Coleman, who built their wealth through the Fannie May Candy Company. Today, their nephew R. Michael Furlong chairs the board, while Nora Garcia was appointed Executive Director in 2025 to lead the Chicago-based foundation's dual mandate of investment management and strategic philanthropy. The foundation's investment strategy blends direct deals with fund commitments across a wide spectrum of asset classes, including venture capital, buyout, special situations, and commercial mortgage-backed securities. Known fund relationships include Brickman Fund V and VI for mixed-use real estate and separate accounts managed by Wasmer Schroeder and Lord Abbett for fixed-income exposure. Grantmaking is concentrated in the greater Chicago region, funding initiatives in health equity, entrepreneurship education, and support for people with intellectual and developmental disabilities. The endowment, estimated at $172 million (Altss estimate), is overseen by an internal investment committee led by Director Daniel B. Wanzenberg from its office at 20 North Wacker Drive. The foundation actively participates in Exponent Philanthropy, Forefront, and Grantmakers in Health to source deal flow and share best practices. In 2025, the foundation appointed Nora Garcia as Executive Director, signaling a focus on operational continuity and regional grantmaking expansion. The Coleman Foundation operates as a rare hybrid: a place-based private foundation that manages its own diversified, multi-asset portfolio rather than simply liquidating assets to fund grants. This structure allows it to generate returns that directly extend the longevity and impact of its philanthropic capital in the Chicago area.

## Sectors

- Healthcare Services
- Education
- Entrepreneurship

## People

- R. Michael Furlong — Board Chair and Director
- Nora Garcia — Executive Director
- Daniel B. Wanzenberg — Director and Investment Committee Chair

## Questions

### Who manages the Coleman Foundation's investment portfolio?

The foundation's investment portfolio is overseen by an internal investment committee chaired by Director Daniel B. Wanzenberg. The board, led by Chair R. Michael Furlong, ultimately governs the endowment's strategy, which spans direct investments, fund commitments, and separately managed accounts.

### Does the Coleman Foundation make direct investments or only fund commitments?

The foundation engages in both direct deals and fund commitments. Its investment activity includes direct co-investments and separately managed accounts, such as its CMBS portfolio with Wasmer Schroeder, alongside limited partnership interests in funds like Brickman Fund V and VI.

### What types of organizations does the Coleman Foundation support through grants?

Grantmaking is concentrated in the greater Chicago region and focuses on three primary areas: health, entrepreneurship education, and intellectual and developmental disabilities. The foundation targets community-based organizations that strengthen the physical, economic, and emotional well-being of local residents.

### Where does the Coleman Foundation source its deal flow?

The foundation is an active member of professional networks including Exponent Philanthropy, Forefront, and Grantmakers in Health. These memberships provide access to a community of peer foundations, GPs, and co-investment opportunities that supplement its internal sourcing efforts.

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Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/the-coleman-foundation-inc

Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology