Chase Commits $25 Million to Charities Through Chase Community Giving Program Over Next Two Years
NEW YORK - Chase announced today an additional two-year, $25-million commitment to the Chase Community Giving philanthropic program on Facebook. The popular program has already awarded $10 million to 300 small and local charities in 38 states, and Washington, D.C., since 2009.
Since its inception, Chase Community Giving has attracted more than 2.4 million fans that determined the winners from more than 500,000 participating charities nationwide. Chase is currently preparing for its Spring 2011 program, which will begin online Monday, April 4, and will focus on local charities with annual operating expenses from $1 million to $10 million. Plans are also underway for another program later this year geared toward smaller, more local charities.
“I want to thank all of the charities for their hard work and dedication,” Jamie Dimon, Chairman and CEO of JPMorgan Chase, said. “Their enthusiasm and commitment are making a difference in many local communities across the country. We’re proud that Chase Community Giving is empowering them to do so.”
As part of the 2011 kick-off, Chase Community Giving is hosting a forum today at 12:30 p.m. EDT that will be broadcast live on Facebook. “Chase Charity Insights: Conversations on Social Media,” will connect nonprofits with social media and philanthropy thought leaders. These experts will share insights on how to use social media to help charities achieve their goals. Jack Dorsey, Executive Chairman and Creator of Twitter and CEO of Square, will host the event. Panelists include: Matt Jacobson, Director of Market Development at Facebook; Holly Ross, Executive Director of the Nonprofit Technology Network (NTEN); and Zachary Sniderman, Assistant Editor of Social Good at Mashable. Facebook users can watch the forum live and engage in Q&A on Facebook and Twitter (@chasegiving).
“We’ve learned that the social media outreach process is extremely valuable - even for the charities that haven’t finished among the winners,” Kimberly Davis, President of JPMorgan Chase Foundation, said. “We developed Chase Charity Insights to help all participating organizations take full advantage of social media best practices, to spread the word about their good works, and access new sources of financial support.”
Facebook’s 500+ million users are given the opportunity to determine how Chase allocates a portion of its annual giving by voting for their favorite charities through the Chase Community Giving application on Facebook. The Spring 2011 program will award $5 million over two rounds of voting. The top 100 eligible charities that receive the most votes in Round 1 will receive $25,000. Those 100 charities will advance to Round 2, with the top 25 charities receiving the most votes in Round 2 voting to be awarded additional grants ranging from $20,000 to $500,000. The Round 1 voting period will be from April 21 to May 4. Round 2 voting period will be from May 19 to May 25.
To be eligible for the Spring program, charities have to be a registered 501©(3) public nonprofit, have annual operating expenses from $1 million to no more than $10 million and meet other requirements as described in the program’s rules. While this Spring program is geared toward medium-sized charities, our plans for the next program will focus on smaller charities with annual operating expenses of $1 million or less. This $5 million grant is in addition to the bank’s regular philanthropic giving. JPMorgan Chase donates more than $100 million annually to charitable causes.
For more information on the program, please visit http://www.facebook.com/ChaseCommunityGiving.
Chase is the U.S. consumer and commercial banking business of JPMorgan Chase & Co. (NYSE: JPM), which operates more than 5,400 branches and 16,000 ATMs nationally under the Chase brand. Chase has more than 90 million credit cards issued and serves consumers and small businesses through bank branches, ATMs and mortgage offices as well as through relationships with auto dealerships and schools and universities. More information about Chase is available at www.chase.com.
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