JPMorgan Chase Foundation

The foundation makes grants in the United Kingdom as well as the United States. It focuses on skills training and employment for people with disadvantaged backgrounds. ²

The foundation focuses on partnerships between the government and the private sector to promote jobs and skills, small business expansion, financial health and neighborhood revitalization. ³

Donations

The foundation donates about $250 million per year taken largely from revenues produced by the JPMorgan Chase company. It has announced that it will increase giving to $1.75 billion by 2023. ³ The planned boost in giving came largely due to the company’s tax savings of about $4 billion through the Tax Cut and Jobs Act of 2017, according to Inside Philanthropy. ⁴

In 2014, the foundation committed $100 million over five years to Detroit to help the city’s economic problems. ⁵ JPMorgan Chase contributed $1 million to the city of Houston to help build housing units for the homeless in 2016. ⁶ In 2017, the company contributed $40 million to Chicago development and $10 million to Washington, D.C. development. ⁴

In 2018, the JPMorgan Chase Foundation began funding a partnership among 12 universities in Washington, D.C.; Virginia; and Maryland to promote mastery of basic digital skills for graduates. The program is hosted by the Business-Higher Education Forum, a nonprofit that promotes partnerships between Fortune 500 companies and universities and colleges. ⁷

Leadership

Janis Bowdler is the president of the JPMorgan Chase Foundation. She previously worked for 10 years as the economic policy director for the left-wing Hispanic-interest advocacy group National Council of La Raza (now UnidosUS). She came to the JPMorgan Chase Foundation in 2013. ¹

Stephanie Mestrallet is the vice president of the JPMorgan Chase Foundation. She began in August 2014. She works out of London, England. ⁸

Ethan Morgan is the chairman of the JPMorgan Chase Southern California Philanthropic Leadership Council. ⁹