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The Coleman Foundation recently established collaborative working arrangements with the Portage Foundation and two other community foundations in its service area to manage and develop the assets of its restricted and unrestricted endowments.
The community foundations will work to increase the endowments in order to serve more individuals and families in need.
The Portage Foundation received $1,077,543 from nine endowments, including funds for residential services, Coleman Adult Day Services, suicide prevention, children's services, indigent health, and pharmacy funds.
As Coleman operates in eight Ohio counties, other community foundations in the areas Coleman serves were chosen to receive other endowments from the Coleman Foundation. Those selected are the Akron Community Foundation and the Stark Community Foundation.
"We are delighted to begin a new relationship with this effective and committed philanthropic organization," said Nelson Burns, CEO of Coleman Professional Services and Coleman Foundation treasurer. "We look forward to working together to increase these endowments so we can better serve those with severe and persistent mental illness and addictions, regardless of their ability to pay. The Portage Foundation has the financial management and fundraising skills we need to take our endowments to a new level."
Burns added that Jeff Fowler, president of the Coleman Foundation Board of Trustees, made an insightful choice in selecting the foundations. The decision allows for future growth of financial assets.
"As an organization, we are committed to becoming an even more important voice and source for fostering recovery, building independence, and changing destinies in each of the communities we serve," Burns said.
Linda Fergason, executive director of the Portage Foundation said the two organization are both "strong and effective organizations that have strengthened the community in multiple ways."
"This collaboration will provide a new synergy and multiply the impact of donors' gifts," Fergason said. "We are privileged to have this new partnership and as we steward these endowments. We know that donors will be pleased about how together we can assist individuals and families achieve their philanthropic goals."
Fowler also added that as philanthropic support grows, managing greater amounts of money responsiblity will be key.
"I feel confident that the community foundations chosen will do just that and work to increase the dollars in each fund to help serve the needs of our communities," he said.
Coleman Professional Services is a nationally recognized, not-for-profit provider of behavioral health and addiction recovery programs that improve the lives of individuals, families and businesses in Ohio.
The company's vision is to foster recovery by improving the ability to access its services without scheduling delays; to build independence by providing permanent housing for people with behavioral health challenges and to change destinies by assisting people with disabilities obtain employment, reducing their dependency on entitlements.