OVERVIEW: JPMorgan Chase funds colleges and universities around the globe in the areas of industry-related research and skills building.
IP TAKE: The company’s website lists a large directory of local employees who may be worth contacting. On a smaller scale, it gives funds to universities through matching funds from employee donations. Geographic restrictions apply on a state-by-state basis. JPMorgan Chase does not accept unsolicited proposals.
PROFILE: The Global Philanthropy arm of the massive financial services firm JPMorgan Chase is motivated by a sense of the company’s “fundamental responsibility to help our clients and our communities navigate a complex global economy and address their economic and social challenges.” The firm has given away hundreds of millions of dollars to nonprofits worldwide in recent years, with a four-pronged focus on Workforce Readiness, Financial Capability, Small Business Expansion, and Community Development.
While JPMorgan Chase does not maintain a designated higher education program, it conducts related grantmaking through its Workforce Readiness. Stemming from the conviction that “addressing the skills gap can be one of the most powerful tools for reducing unemployment and expanding economic opportunity,” JPMorgan Chase established a “$250 million, five-year initiative” that seeks to “inform and accelerate efforts to develop demand-driven skills training so that workers and industries have the skills to compete and prosper in a global economy.” Of that commitment, Chase allocated $75 million to a sub-program, New Skills for Youth, which aims “to expand high-quality, career-focused education programs that lead to well-paying jobs and long-term careers” for young people.
The foundation also funds higher education through its Small Business Forward Program, a five-year, $30-million initiative launched in 2014 that “supports small businesses by connecting them to critical resources to help them grow faster, create jobs and strengthen local economies.” In a recent year, JPMorgan Chase gave a substantial grant to the California Institute for Quantitative Biosciences (QB3) at UC San Francisco to “promote biotech innovation in San Francisco” by enabling it to hire an entrepreneurship program manager and to “fund internships at the center to assist students from economically disadvantaged neighborhoods in their efforts to enter the biotech industry.”
At the secondary level, JPMorgan also has a Fellowship Initiative that provides support in academics, college preparation, mentorship, and other areas to individual young men of color.
At the moment, JPMorgan Chase is not accepting any unsolicited proposals. It also limits its grantmaking to select US states and countries, a list of which may be found here, along contact information for each region.
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