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Jpmorgan Chase Foundation is a private corporation based in NEW YORK, NY. The foundation received its IRS ruling in 1969. The principal officer is Joseph Tobias. It holds total assets of $1.2B. Annual income is reported at $2.2B. Total assets have grown from $276.5M in 2011 to $442.1M in 2023. The foundation is governed by 29 officers and trustees. Tax records are available from 2015 to 2023. Funding is distributed across 8 states, including United States, Global, New York. According to available records, Jpmorgan Chase Foundation has made 27,796 grants totaling $649M, with a median grant of $520. Annual giving has decreased from $428.2M in 2022 to $220.8M in 2023. Individual grants have ranged from N/A to $3.3M, with an average award of $23K. The foundation has supported 11,939 unique organizations. The foundation primarily supports organizations in District of Columbia, California, New York, which account for 25% of all grants. Grantmaking reaches organizations across 53 states. Contributions to this foundation are tax-deductible.
## Mission & Strategic Approach
JPMorgan Chase Foundation is the philanthropic arm of JPMorganChase & Co., the world's largest bank by assets (~$3.9 trillion). The Foundation drives economic growth and opportunity by making strategic philanthropic and business investments in communities globally.
Its work is organized across five strategic pillars:
1. Business Growth and Entrepreneurship — Supporting small business owners with tools, capital access, mentorship, and ecosystem resources. JPMorganChase supports 7 million small business clients globally. 2. Careers and Skills — Funding career-connected education, workforce training, and skills development that connects job seekers—especially from underserved communities—to quality employment. 3. Community Development — Promoting neighborhood revitalization, affordable housing creation, and support for vital local institutions (hospitals, schools, governments, CDFIs). The firm has created or preserved 250,000+ affordable housing units since 2021. 4. Environmental Sustainability — Advancing clean energy transitions and scaling essential energy technologies, anchored by a $2.5 trillion Sustainable Development Target. 5. Financial Health and Wealth Creation — Expanding financial inclusion and helping historically excluded individuals build lasting wealth.
The Foundation takes a fully integrated approach, simultaneously deploying business expertise, data, human capital, and philanthropic capital to maximize community impact. Grant-making is proactive and relationship-driven; most funding goes to established strategic partners rather than unsolicited applicants.
## Funding Patterns & Grant Programs
The Foundation primarily funds established nonprofit partners aligned with its five strategic pillars. Programs include:
| Program | Focus | Notes |
|---|---|---|
| Business Growth & Entrepreneurship | Small business support, CDFI lending, entrepreneurship ecosystems | Multi-year partnerships with CDFIs, incubators |
| Careers & Skills | Workforce training, career-connected education, apprenticeships | Partners include Generation, Year Up, and similar providers |
| Community Development | Affordable housing, homeownership, community institutions | Includes large predevelopment loans (e.g., $29.1M for Catchlight Crossings) |
| Environmental Sustainability | Clean energy, energy transition infrastructure | Aligned with $2.5T Sustainable Development Target |
| Financial Health | Financial literacy, wealth building, underbanked access | Focuses on low-to-moderate income populations |
| Veteran Jobs Mission | Military veteran employment coalition | 315+ companies, 1M+ veterans hired since 2011 |
Typical grant sizes (from IRS 990 data): - Median grant: ~$500 - Average grant: ~$34,672 - Maximum grant: ~$3.3 million - Total grants made: 6,275 in most recent filing period - Foundation assets: $1.22 billion
The wide range reflects both small community grants and large multi-year institutional partnerships. Total philanthropic commitment exceeds $400 million annually when combined with firm-level investments.
## Peer Comparison
The JPMorgan Chase Foundation is the largest U.S. bank-affiliated foundation and one of the most influential corporate foundations nationally.
| Foundation | Assets | Annual Giving Est. | Primary Focus | Application Type |
|---|---|---|---|---|
| JPMorgan Chase Foundation | $1.22B | $400M+ (firm-wide) | Economic mobility, workforce, housing | Proactive/invite only |
| Wells Fargo Foundation | ~$1.1B | ~$200M | Housing, small business, financial health | Limited RFPs + proactive |
| Bank of America Charitable Foundation | ~$800M | ~$250M | Economic mobility, workforce, housing | Proactive/invite only |
| Goldman Sachs Foundation | ~$600M | ~$100M+ | Education, economic empowerment | Proactive + select RFPs |
| Citi Foundation | ~$500M | ~$100M | Financial inclusion, workforce, cities | Proactive/invite only |
| Ford Foundation | ~$13B | ~$600M | Inequality, justice, social change | Invite only (established partners) |
Key differentiators: - Uniquely integrates firm business activity (lending, advisory, technology) with philanthropy - Uses proprietary JPMorganChase Institute data and research to direct investments - Strongest workforce/skills pipeline in corporate philanthropy nationally - One of few foundations with a standing veteran employment coalition (315+ corporate members) - Prefers long-term, multi-year partnerships over one-off project grants
## Recent Activity & Grantee Examples
JPMorgan Chase Foundation has been actively deploying capital across all five pillars in recent years:
## Application Tips & Relationship Strategy
Critical insight: JPMorgan Chase Foundation does not accept unsolicited grant proposals in most cases. All funding is strategically directed to established partners. Success requires a long-term relationship-building strategy.
How to engage: 1. Identify your local JPMorganChase market lead — The Foundation operates through regional community affairs and corporate responsibility teams. Research who leads philanthropy in your target city/region. 2. Align to one of the five pillars — Your organization must fit squarely within Business Growth, Careers & Skills, Community Development, Environmental Sustainability, or Financial Health. Mixed-focus organizations should lead with their strongest fit. 3. Emphasize scale and measurable impact — JPMorgan Chase favors partners who can demonstrate significant reach (thousands of people served) and quantifiable outcomes (jobs created, units built, businesses supported). 4. Demonstrate systems-change approach — The Foundation looks for partners working on policy, systemic solutions, and ecosystem-level change—not just direct service delivery. 5. Leverage data credibility — Reference JPMorganChase Institute research (which the firm publishes on economic mobility, housing, small business) to show alignment with the firm's own analysis. 6. Build over time — Start with smaller community-level engagements, volunteer partnerships, or co-sponsorship of events before approaching for major grants. 7. Watch for RFPs — Occasionally, the Foundation issues targeted RFPs (especially for housing and workforce programs) through CDFI intermediaries and national networks.
Best-fit organizations: - CDFIs and community development lenders - Workforce training providers with strong job placement rates - Affordable housing developers (especially minority-led and community-controlled) - Small business development centers and entrepreneurship ecosystems - Veterans employment and transition organizations - Financial coaching and wealth-building nonprofits serving low-to-moderate income populations
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Smallest Grant
N/A
Median Grant
$500
Average Grant
$35K
Largest Grant
$3.3M
Based on 6,275 grants from the most recent 990-PF filing.
Helping business owners achieve their goals and strengthen their communities through an ecosystem of tools, resources, and strategic advice. Supports small business growth including 386,000 small businesses in Chicago alone.
Supporting and developing career-connected education, skills training, and policy solutions that connect job seekers to more opportunities, including virtual call centers creating 200+ jobs and partnerships with workforce programs.
Building stronger communities by improving housing access and affordability, expanding homeownership opportunities, and supporting vital institutions like governments, hospitals, schools, and community financial institutions. Created or preserved 250,000+ affordable housing units since 2021.
Supporting the ongoing energy transition and scaling essential clean energy technologies. Part of a $2.5 trillion Sustainable Development Target.
Helping individuals build wealth and plan for financial goals by offering the right financial products and services, with a focus on underserved communities.
Coalition begun with JPMorganChase in 2011 to hire military veterans; grown to 315+ companies with 1 million+ veterans and military spouses hired. JPMorganChase has hired 20,000+ veterans since 2011.
## Funding Patterns & Grant Programs The Foundation primarily funds established nonprofit partners aligned with its five strategic pillars. Programs include:.
Jpmorgan Chase Foundation has distributed a total of $649M across 27,796 grants. The median grant size is $520, with an average of $23K. Individual grants have ranged from N/A to $3.3M.
## Mission & Strategic Approach JPMorgan Chase Foundation is the philanthropic arm of JPMorganChase & Co., the world's largest bank by assets (~$3.9 trillion). The Foundation drives economic growth and opportunity by making strategic philanthropic and business investments in communities globally.
Jpmorgan Chase Foundation is headquartered in NEW YORK, NY. While based in NY, the foundation distributes grants to organizations across 53 states.
| Name | Title | Compensation | Benefits | Total |
|---|---|---|---|---|
| Courtney Hodapp | SENIOR VICE PRESIDENT | $0 | $0 | N/A |
| Monique Baptiste - Resigned Oct 202 | VICE PRESIDENT | $0 | $0 | N/A |
| Maneesha Chadha | VICE PRESIDENT | $0 | $0 | N/A |
| Hang Ho | SENIOR VICE PRESIDENT | $0 | $0 | N/A |
| Rodolfo Lozano - Effective 3152023 | VICE PRESIDENT | $0 | $0 | N/A |
| David Salaverry - Resigned 5242023 | DIRECTOR AND TREASURER | $0 | $0 | N/A |
| Hanka Boldemann | VICE PRESIDENT | $0 | $0 | N/A |
| Daniel Okonkwo | VICE PRESIDENT | $0 | $0 | N/A |
| Linda Rodriguez | VICE PRESIDENT | $0 | $0 | N/A |
| Abigail Suarez | VICE PRESIDENT | $0 | $0 | N/A |
| Jeremy Barnum | DIRECTOR | $0 | $0 | N/A |
| Tim Kellogg | ASSISTANT TREASURER | $0 | $0 | N/A |
| Joseph Tobias - Effective 5252023 | DIRECTOR AND TREASURER | $0 | $0 | N/A |
| Charles Corrigan | VICE PRESIDENT | $0 | $0 | N/A |
| Carol Lake | DIRECTOR AND PRESIDENT | $0 | $0 | N/A |
| Elsa Chin | VICE PRESIDENT | $0 | $0 | N/A |
| Rita German - Effective 3152023 | VICE PRESIDENT | $0 | $0 | N/A |
| Matthew Muench - Effective 472023 | VICE PRESIDENT | $0 | $0 | N/A |
| Timothy Berry - Effective 5252023 | DIRECTOR AND VICE CHAIRMAN | $0 | $0 | N/A |
| Demetrios Marantis - Resigned 51820 | DIRECTOR AND VICE CHAIRMAN | $0 | $0 | N/A |
| Shaolee Sen | VICE PRESIDENT | $0 | $0 | N/A |
| Allen Fernandez Smith | VICE PRESIDENT | $0 | $0 | N/A |
| Julie Slama | SENIOR VICE PRESIDENT | $0 | $0 | N/A |
| Seth Grossman | SECRETARY | $0 | $0 | N/A |
| Heather Higginbottom | DIRECTOR | $0 | $0 | N/A |
| Jennie Sparandara | SENIOR VICE PRESIDENT | $0 | $0 | N/A |
| Roma Kaundal | VICE PRESIDENT | $0 | $0 | N/A |
| Vanessa Engel | VICE PRESIDENT | $0 | $0 | N/A |
| Sarah Willis | VICE PRESIDENT | $0 | $0 | N/A |
Total Giving
$195M
Total Assets
$442.1M
Fair Market Value
$442.1M
Net Worth
$304.9M
Grants Paid
$194.4M
Contributions
$150M
Net Investment Income
$13.9M
Distribution Amount
$21.9M
Total: $50.4M
Total Grants
27,796
Total Giving
$649M
Average Grant
$23K
Median Grant
$520
Unique Recipients
11,939
of 2023 grantees were first-time recipients
| Recipient | Location | Amount | Year |
|---|---|---|---|
| Lincoln Institute Of Land PolicyGENERAL OPERATING SUPPORT | Cambridge, MA | $3.3M | 2023 |
| Give2asiaGENERAL OPERATING SUPPORT | Oakland, CA | $3M | 2023 |
| Commit2dallasIN SUPPORT OF CREATING ECONOMIC MOBILITY AND CAREER PATHWAYS | Dallas, TX | $2.9M | 2023 |
| Inclusive Action For The CityIN SUPPORT OF FINANCIAL HEALTH | Los Angeles, CA | $2.5M | 2023 |
| UnidosusGENERAL OPERATING SUPPORT | Washington, DC | $2.5M | 2023 |
| The Aspen Institute IncIN SUPPORT OF FINANCIAL HEALTH | Washington, DC | $2.4M | 2023 |
| Naacp Empowerment Programs IncGENERAL OPERATING SUPPORT | Baltimore, MD | $2.3M | 2023 |
| The Urban InstituteGENERAL OPERATING SUPPORT | Washington, DC | $2.2M | 2023 |
| Network Of European FoundationsIN SUPPORT OF FINANCIAL HEALTH | Brussels | $2.2M | 2023 |
| Local Initiatives Support CorporationIN SUPPORT OF NEIGHBORHOOD REVITALIZATION | New York, NY | $2M | 2023 |
| United Negro College Fund IncIN SUPPORT OF CREATING ECONOMIC MOBILITY AND CAREER PATHWAYS | Washington, DC | $2M | 2023 |
| Amalgamated Charitable Foundation IncIN SUPPORT OF CREATING ECONOMIC MOBILITY AND CAREER PATHWAYS | Washington, DC | $2M | 2023 |
| Neighborhood Housing Services Of South Florida IncIN SUPPORT OF UNDERSERVED SMALL BUSINESS EXPANSION | Miami, FL | $1.9M | 2023 |
| The Chicago Community FoundationGENERAL OPERATING SUPPORT | Chicago, IL | $1.9M | 2023 |
| Build Wealth Mn IncIN SUPPORT OF NEIGHBORHOOD REVITALIZATION | Minneapolis, MN | $1.8M | 2023 |
| Enterprise Community Partners IncIN SUPPORT OF NEIGHBORHOOD REVITALIZATION | Columbia, MD | $1.8M | 2023 |
| Impact CharitableIN SUPPORT OF FINANCIAL HEALTH | Denver, CO | $1.8M | 2023 |
| Boston Medical Center CorpIN SUPPORT OF CREATING ECONOMIC MOBILITY AND CAREER PATHWAYS | Boston, MA | $1.7M | 2023 |
| New Profit IncIN SUPPORT OF NEIGHBORHOOD REVITALIZATION | Boston, MA | $1.7M | 2023 |
| Education Strategy Group LlcIN SUPPORT OF CREATING ECONOMIC MOBILITY AND CAREER PATHWAYS | Chevy Chase, MD | $1.6M | 2023 |
| Edvestors IncorporatedIN SUPPORT OF CREATING ECONOMIC MOBILITY AND CAREER PATHWAYS | Boston, MA | $1.6M | 2023 |
| Neighborhood Reinvestment CorporationIN SUPPORT OF FINANCIAL HEALTH | Washington, DC | $1.5M | 2023 |
| Finreglab IncGENERAL OPERATING SUPPORT | Washington, DC | $1.5M | 2023 |
| Center For Economic InclusionGENERAL OPERATING SUPPORT | Saint Paul, MN | $1.4M | 2023 |
| Beloved Community IncorporatedIN SUPPORT OF CREATING ECONOMIC MOBILITY AND CAREER PATHWAYS | New Orleans, LA | $1.4M | 2023 |
| Solar And Energy Loan Fund Of St Lucie County IncIN SUPPORT OF NEIGHBORHOOD REVITALIZATION | Fort Pierce, FL | $1.4M | 2023 |
| The Attainment NetworkIN SUPPORT OF CREATING ECONOMIC MOBILITY AND CAREER PATHWAYS | Denver, CO | $1.4M | 2023 |
| Indianapolis Private Industry Council IncIN SUPPORT OF CREATING ECONOMIC MOBILITY AND CAREER PATHWAYS | Indianapolis, IN | $1.4M | 2023 |
| The Nashville Chamber Public Benefit FoundationIN SUPPORT OF CREATING ECONOMIC MOBILITY AND CAREER PATHWAYS | Nashville, TN | $1.4M | 2023 |
| Vibrant Emotional HealthIN SUPPORT OF CREATING ECONOMIC MOBILITY AND CAREER PATHWAYS | New York City, NY | $1.4M | 2023 |
| Descendants Truth And Reconciliation FoundationGENERAL OPERATING SUPPORT | Baton Rouge, LA | $1.3M | 2023 |
| Greater Washington PartnershipGENERAL OPERATING SUPPORT | Washington, DC | $1.2M | 2023 |
| United States Fund For UnicefGENERAL OPERATING SUPPORT | New York, NY | $1.2M | 2023 |
| National Council For Workforce EducationIN SUPPORT OF FINANCIAL HEALTH | Portland, OR | $1.1M | 2023 |
| Community Development Corporation Of Brownsville IncIN SUPPORT OF NEIGHBORHOOD REVITALIZATION | Brownsville, TX | $1.1M | 2023 |
| Phineo GagIN SUPPORT OF CREATING ECONOMIC MOBILITY AND CAREER PATHWAYS | Berlin | $1.1M | 2023 |
| The Careers And Enterprise Company LimitedIN SUPPORT OF CREATING ECONOMIC MOBILITY AND CAREER PATHWAYS | London | $1.1M | 2023 |
| Marthas Table IncIN SUPPORT OF CREATING ECONOMIC MOBILITY AND CAREER PATHWAYS | Washington, DC | $1M | 2023 |
| National Career Technical Education Foundation IncIN SUPPORT OF CREATING ECONOMIC MOBILITY AND CAREER PATHWAYS | Silver Spring, MD | $1M | 2023 |
| New Venture FundIN SUPPORT OF NEIGHBORHOOD REVITALIZATION | Washington, DC | $1M | 2023 |
| Prosperity NowIN SUPPORT OF UNDERSERVED SMALL BUSINESS EXPANSION | Washington, DC | $1M | 2023 |
| College TrackIN SUPPORT OF CREATING ECONOMIC MOBILITY AND CAREER PATHWAYS | Oakland, CA | $1M | 2023 |
| Compass Working Capital IncIN SUPPORT OF FINANCIAL HEALTH | Boston, MA | $1M | 2023 |
| Business-Higher Education ForumIN SUPPORT OF CREATING ECONOMIC MOBILITY AND CAREER PATHWAYS | Washington Dc Distri, DC | $1M | 2023 |
| National Association For Latino Community Asset BuildersIN SUPPORT OF NEIGHBORHOOD REVITALIZATION | San Antonio, TX | $1M | 2023 |
| The Housing Partnership Network IncIN SUPPORT OF NEIGHBORHOOD REVITALIZATION | Boston, MA | $1M | 2023 |
| Catapult Greater Pittsburgh IncIN SUPPORT OF FINANCIAL HEALTH | Pittsburgh, PA | $1M | 2023 |
| Research Foundation Of The City University Of New YorkIN SUPPORT OF CREATING ECONOMIC MOBILITY AND CAREER PATHWAYS | New York, NY | $1M | 2023 |
| Neighborhood Housing Services Of Chicago IncIN SUPPORT OF NEIGHBORHOOD REVITALIZATION | Chicago, IL | $955K | 2023 |
| Fondazione Con Il SudIN SUPPORT OF CREATING ECONOMIC MOBILITY AND CAREER PATHWAYS | Roma | $950K | 2023 |