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The JPMorgan Chase Foundation

Annual Giving
$202.5M
Grant Range
$5K - $5.0M

Quick Stats

  • Annual Giving: $202,504,945 (2024)
  • Number of Awards: 10,328 grants (2024)
  • Average Grant Size: ~$19,600
  • Grant Range: Varies widely from small community grants to multi-million dollar strategic initiatives
  • Application Process: Invitation only - no unsolicited proposals accepted
  • Geographic Focus: National, with priority to areas of JPMorgan Chase operations (NY, IL, TX, FL, CA, OH)

Contact Details

Foundation Email: jpmcfoundation@jpmorgan.com Phone: 212-270-6000 Website: www.jpmorganchase.com/impact/philanthropy Location: New York, NY

Note: The foundation accepts proposals by invitation only from organizations with demonstrated success in their focus areas. They do not review unsolicited letters of inquiry or grant proposals.

Overview

The JPMorgan Chase Foundation serves as the philanthropic arm of JPMorgan Chase & Co., one of the world's leading financial institutions. With annual giving exceeding $200 million distributed across more than 10,000 grants, the foundation takes a strategic, partnership-driven approach to addressing economic inequality and expanding opportunity. In 2020, JPMorgan Chase announced a landmark $30 billion Racial Equity Commitment over five years, which was completed ahead of schedule in April 2024. The foundation operates through invitation-only grantmaking, focusing on organizations with proven track records in its priority areas. Special emphasis is directed toward neighborhoods in areas of JPMorgan Chase's major operations. The foundation received significant attention in 2024 when JPMorgan Chase contributed $1 billion in Visa shares to pre-fund the foundation's work. The foundation's approach emphasizes collaboration between business, government, nonprofit, and civic organizations, leveraging the firm's global scale, talent, and resources to create systemic change.

Funding Priorities

Grant Programs

AdvancingCities Initiative ($500 million total commitment) A comprehensive initiative combining lending capital, philanthropic capital, and expertise to invest in cities. Features two key components:

  • AdvancingCities Challenge: Competitive awards of $3-5 million to selected cities across the United States. Past winners include Chicago, Louisville, Miami, San Diego, Syracuse, Baton Rouge, and New Orleans.
  • Large-Scale Investments: Targeted investments in cities like Detroit, Chicago, and Washington, D.C.

PRO Neighborhoods ($125 million, five-year initiative launched 2016) Partnerships for Raising Opportunity in Neighborhoods provides funds to Community Development Financial Institutions (CDFIs) that collaborate to help revitalize low- and moderate-income communities. The program aims to:

  • Increase the scale and scope of CDFI lending
  • Encourage creation of new financial instruments for community development
  • Stimulate use of quantitative data in community development programs
  • Support small business growth, health and social service facilities, and affordable housing

Racial Equity Commitment ($30 billion completed 2024) A landmark initiative to close the racial wealth gap among Black, Hispanic, and Latino communities, including:

  • 40,000 home-purchase loans for Black and Latinx households
  • $4 billion in refinancing loans
  • $2 billion in loans to 15,000 small businesses in communities of color
  • $750 million spending with Black and Latinx suppliers (exceeded ahead of schedule)
  • One million low-cost checking/savings accounts opened

Employee Ownership Initiative (2024) Recent grants totaling $2+ million to organizations expanding awareness and access to employee ownership, helping 1,500+ business owners and professionals access information and supporting 200 business owners in exploring shared ownership transitions.

CDFI Partnerships Over two decades of working with CDFIs, with more than $2 billion invested. Recently expanded from 25 to 45 CDFI partners with $300 million in additional financing over five years.

Priority Areas

The foundation focuses on four comprehensive priority areas:

1. Jobs & Skills

  • Workforce readiness programs
  • Career-connected education and skills training
  • Apprenticeship programs
  • Digital skills development
  • Partnerships between higher education and employers
  • Policy solutions for workforce development

2. Small Business Expansion

  • Small business lending and technical assistance
  • Support for minority-owned businesses
  • Entrepreneurs of Color Fund in multiple cities
  • Business coaching and educational workshops
  • Support for supplier diversity

3. Financial Health

  • Financial capability programs
  • Technology-based financial products
  • Low-cost banking access
  • Financial education and tools
  • Credit building and savings programs
  • Support for one million people to open checking/savings accounts

4. Neighborhood Revitalization

  • Affordable housing creation and preservation (250,000+ units since 2021)
  • Community development projects
  • Infrastructure improvements in underserved areas
  • Healthcare facilities and community service buildings
  • Grocery stores and essential services in underserved neighborhoods

Cross-Cutting Priorities:

  • Racial equity and closing the racial wealth gap
  • Support for Black and Latino communities
  • Geographic focus on JPMorgan Chase operational areas
  • Data-driven community development
  • Environmental sustainability and climate initiatives ($13+ million in climate grants since 2019)

What They Don't Fund

  • Unsolicited proposals from organizations outside their invitation-only process
  • Organizations without 501(c)(3) tax-exempt status
  • Programs not aligned with their four core priority areas
  • Organizations without demonstrated track records of success
  • Areas outside JPMorgan Chase's geographic priorities (though they do work in 100+ global markets)

Governance and Leadership

Janis Bowdler served as President of the JPMorgan Chase Foundation, shaping the foundation's strategic direction around economic inclusion. She has been recognized for "creative and principled work" that was "pathbreaking in its support of equity and opportunity in American cities." Bowdler has emphasized the importance of the "geography of opportunity," noting how quality housing, education, and financial circumstances differ based on zip code and relate directly to life outcomes.

Key quote from Bowdler on lasting change: "We have to focus on the community owning homes, retirement accounts, businesses, because that's then the wealth that they're going to pass to their children and that's how we'll see lasting change."

On partnership requirements: "We're looking for cities and civic leaders where there's already been some table-setting, where there is a shared vision and what they're lacking is funding. You need to have fertile ground" for successful partnerships.

Stephanie Mestrallet serves as Vice President of the JPMorgan Chase Foundation, working from London, England since August 2014, overseeing international philanthropic initiatives.

Ethan Morgan serves as Chairman of the JPMorgan Chase Southern California Philanthropic Leadership Council.

The foundation operates under the broader leadership of JPMorgan Chase & Co., with CEO Jamie Dimon emphasizing that ethical behavior and integrity must be cultivated throughout the organization, with particular focus on intentionality in leadership.

Application Process & Timeline

How to Apply

Critical Information: The JPMorgan Chase Foundation accepts proposals by invitation only. They do not accept or review unsolicited letters of inquiry or grant proposals.

Invitation-Only Process:

  • Opportunities are extended to organizations with demonstrated success in one of the four focus areas
  • The foundation identifies potential partners through strategic research and relationships
  • Organizations must have proven track records and be aligned with foundation priorities
  • Special consideration given to organizations in areas of JPMorgan Chase's major operations

Alternative Pathways:

  • Organizations can access opportunities through JPMorgan Chase's network of philanthropic partners, including foundations, trusts, and other organizations that receive financial support from Chase
  • Search the foundation finder tool on JPMorgan's website for opportunities available through their partner organizations
  • Build relationships with existing grantees and partner organizations
  • Participate in collaborative initiatives where JPMorgan Chase is already engaged

Eligibility Requirements:

  • 501(c)(3) tax-exempt status verified
  • Programs addressing social disparities and economic inclusion
  • Focus on community development, education, health, or environmental sustainability
  • Alignment with one of the four priority areas (Jobs & Skills, Small Business Expansion, Financial Health, Neighborhood Revitalization)
  • Geographic connection to JPMorgan Chase operational areas (preferred but not exclusive)

Decision Timeline

Specific decision timelines are not publicly available due to the invitation-only nature of the grantmaking process. Timeline likely varies based on:

  • Type and scale of initiative
  • Strategic importance to foundation priorities
  • Complexity of partnership arrangements
  • Involvement of multiple stakeholders

Success Rates

Given the invitation-only model, traditional success rate statistics are not applicable. The foundation distributed 10,328 grants in 2024, indicating substantial grantmaking activity, but these represent invited proposals rather than competitive applications from a general pool.

Reapplication Policy

Due to the invitation-only nature of the foundation's grantmaking, there is no traditional reapplication policy. Relationships are ongoing and strategic, with:

  • Multi-year commitments common for major initiatives
  • Continued partnership with proven organizations
  • Opportunities for expanded or renewed support based on performance and alignment with evolving priorities

Application Success Factors

Understanding the Strategic Approach

Partnership-Driven Model: The foundation emphasizes collaboration and seeks "fertile ground" where civic leaders already have a shared vision. Success requires:

  • Demonstrated community alignment and stakeholder buy-in
  • Clear strategic vision with established partnerships
  • Track record of success in target area
  • Capacity to absorb and effectively deploy significant funding

Geographic Prioritization: Organizations should understand whether they operate in areas of JPMorgan Chase's major operations:

  • Primary focus states: New York, Illinois, Texas, Florida, California, Ohio
  • Also active in 100+ global markets
  • Community Center branches serve as local presence in priority neighborhoods

Alignment with Racial Equity Focus

Since 2020, the foundation has centered its work on racial equity, specifically:

  • Programs improving economic situations for Black and Latino communities
  • Initiatives closing the racial wealth gap
  • Support for minority-owned businesses
  • Services in communities of color
  • Measurable impact on systemic inequalities

Scale and Systems Change

The foundation prefers investments that:

  • Address root causes, not just symptoms
  • Have potential for systemic impact
  • Can be scaled or replicated
  • Use data to drive decisions and measure outcomes
  • Leverage technology for greater reach

CDFI and Intermediary Partnerships

Organizations should consider:

  • Partnerships with CDFIs (the foundation has invested $2+ billion in CDFIs)
  • Intermediary models that can deploy capital efficiently
  • Collaborative approaches (e.g., Chicago CDFI Collaborative)
  • Proven portfolio management and lending histories

Recent Grant Examples

2024 Employee Ownership Initiative: Over $2 million to organizations expanding awareness and access to employee ownership, supporting 1,500+ business owners and 200 ownership transitions

Boston College Law School: $2 million grant for Initiative on Land, Housing, & Property Rights to address housing and property issues for disadvantaged communities

First Children's Finance: $500,000 for childcare sector support in Detroit

Multiple Housing Initiatives: Grants supporting organizations like Alcorn State University Foundation, Federation of Southern Cooperatives Land Assistance Fund, Brookings Institution, LISC Jacksonville, Howard University School of Law, Center for NYC Neighborhoods, and Catapult Greater Pittsburgh

Language and Terminology

The foundation uses specific language that applicants should understand:

  • "Economic opportunity" and "economic inclusion"
  • "Racial equity" and "closing the racial wealth gap"
  • "Geography of opportunity"
  • "Community ownership" and "wealth building"
  • "Systems change" and "scaling solutions"
  • "Data-driven" approaches
  • "Public-private partnerships"
  • "Collaborative impact"

Key Takeaways for Grant Writers

  1. Invitation-Only Reality: Do not submit unsolicited proposals. Focus instead on building relationships, demonstrating success in the field, and becoming known to the foundation through partnerships, collaborative initiatives, and work in priority communities.

  2. Geographic Strategy Matters: If your organization operates in New York, Illinois, Texas, Florida, California, or Ohio, you have a strategic advantage. Organizations should emphasize connections to JPMorgan Chase's operational footprint.

  3. Racial Equity is Central: Since the $30 billion commitment in 2020, racial equity has been the organizing principle. Clearly articulate how your work specifically benefits Black, Hispanic, and Latino communities and addresses the racial wealth gap.

  4. Partnership and Collaboration Required: The foundation seeks organizations where "there's already been some table-setting" with a "shared vision." Demonstrate existing partnerships, stakeholder alignment, and community buy-in. Solo efforts are less likely to attract support.

  5. Scale and Systems Focus: Small, isolated programs are less aligned with foundation strategy. Emphasize how your work creates systemic change, uses data for decision-making, has potential for replication or scaling, and addresses root causes.

  6. CDFI Pathway: If you are a CDFI or can partner with one, this represents a significant opportunity. The foundation has committed $2+ billion to CDFIs and expanded from 25 to 45 partner organizations. CDFIs with strong portfolio management and lending histories are prioritized.

  7. Four Pillars Alignment: Ensure clear alignment with at least one of the four priority areas (Jobs & Skills, Small Business Expansion, Financial Health, Neighborhood Revitalization). The strongest proposals may integrate multiple pillars.

References

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