OVERVIEW: The JP Morgan Chase Foundation’s global development grantmaking centers on financial stability and workforce readiness.
IP TAKE: The foundation tends to support large national and international organizations that work in its areas of interest. This makes it more difficult for small organizations to attract funding, but the foundation still supports a few grassroots organizations.
PROFILE: The philanthropic arm of the global financial agency JPMorgan Chase, the JP Morgan Chase Foundation believes it has a “fundamental responsibility to help our clients and our communities navigate a complex global economy and address their economic and social challenges.” The foundation works with "community partners to create pathways to opportunity by supporting workforce development, financial capability, small business development and community development in the regions where we do business." The foundations key areas of priority include new skills training, small business growth and empowerment, financial capability, and community resilience.
JPMorgan's global development emphasizes “economic and social challenges," which it addresses through grantmaking related to increasing workforce readiness, economic development and improving financial skills and knowledge. Its Workforce Readiness grantmaking program supports skills training programs for high-demand industries. Overall, the program intends to increase economic opportunities and close the skills gap in an effort to foster economic development.
Chase’s five-year, $250 million New Skills initiative operates out of its Workforce Readiness program under the same skills development mission. However, so far, those investments have been made in organizations working in select cities in the U.S. and specific—mainly developed—European countries.
Lastly, Chase’s Financial Capability grantmaking program promotes financial and economic security by supporting projects that help individuals receive necessary knowledge and skills to increase savings, reduce financial shocks, and build assets. The foundation mainly awards grants to organizations that work in low- to moderate-income communities around the world.
JPMorgan Chase Foundation grants are awarded to organizations working in specific countries located in Asia-Pacific, Europe, the Middle East, Latin America, and Canada. The foundation does not accept unsolicited proposals for its international grantmaking programs.
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