|[January 29, 2013]
JPMorgan Chase Announces Third Round of Charitable Grants for Superstorm Sandy Relief
NEW YORK --(Business Wire)--
JPMorgan Chase (NYSE:JPM) today announced additional donations totaling
$900,000 to nonprofits that are dedicated to helping people and small
businesses continue their recovery; many by providing assistance to
access available funding and obtain financial assistance for losses
caused by Superstorm Sandy. This donation is part of the firm's
previously announced $5 million charitable commitment to help revive
communities impacted by the devastation of the storm this past October.
"Many people in New York and New Jersey are still coping with damage
from Storm Sandy, some still unable to move back into their homes. Their
once-beautiful tree-lined streets are now barren, and many areas still
have a lot of cleaning up to do before they can even begin to rebuild,"
said Peter Scher, Executive Vice President and Head of Corporate
Responsibility, JPMorgan Chase. "At JPMorgan Chase, we recognize the
importance of continuing to provide assistance as the recovery efforts
continue, and are proud to support these local nonprofit organizations,
as they continue to work every day toward helping to rebuild our
Nine organizations and initiatives working in the New York/New Jersey
region will receive grants as follows:
Hope ($400,000) will help those affected by Superstorm Sandy
complete FEMA and insurance claims and access available financial
resources. Operation Hope will also use the funds to continue
providing support for these individuals after their applications have
been submitted and provide long-term financial planning assistance as
they begin rebuilding their finances. JPMorgan Chase employees will
also volunteer their time and expertise to help provide these services.
Hands Volunteers ($75,000) will use the funds from JPMorgan
Chase to purchase vehicles and needed equipment, which will make it
possible for the organization to provide mold remediation and gutting
services to more homes in areas affected by the superstorm.
Bridge Fund of New York Inc. ($75,000) will use this funding
to provide needed financial support to working underserved families in
Island Housing Partnership ($75,000) will conduct assessments
and provide 100 grants for repair or replacement of hot water heaters
and furnaces to lower-income homeowners who do not receive funding
Aftermath Fund for Economic Recovery (SAFER Fund) ($75,000)
will allocate funding from JPMorgan Chase to agencies in New Jersey
that provide essential services for emergency relief and recovery,
such as emergency repairs, replacement automobile purchases, rent and
relocation assistance, and grants to nonprofits for the purchase and
distribution of emergency goods.
New York ($50,000) will use these funds to provide capital to
microenterprises that were ineligible for funding from public sources.
Accion experienced a dramatic increase in applications as a result of
an increase in referrals from New York City's Small Business Services,
and this grant will enable it to support the small businesses still in
need of emergency capital for business continuity and restoration.
This grant succeeds a $250,000-gift that JPMorgan Chase made to Accion
as part of its earlier round of grants to provide relief from
State Relief Fund, Hurricane
Sandy New Jersey Relief Fund, and Mayor's
Fund to Advance New York City ($50,000 each) will use the
capital toward addressing the most pressing needs of communities
affected by the storm, including housing and small business recovery.
"We know from our experience in homelessness prevention over the past
two decades, that the after effects of a disaster like Superstorm Sandy
will have a long-term impact on working poor families across our
region. We are now assisting the secondary victims of the storm who fell
behind in their rent due to lost wages and extraordinary storm-related
expenses. These secondary effects of the disaster will take months to
resolve, and we thank JPMorgan Chase for their foresight to help
reinforce this safety net for working poor families and individuals
trying to hold on to affordable apartments," said Barbara Hayes, Chief
Executive Officer, The Bridge Fund of New York Inc.
"JPMorgan Chase is an outstanding partner with an incredible team that
truly understands that partnership, collaboration, funding and volunteer
people power is the true model for successful long-term financial
recovery for Sandy survivors and HOPE is honored to partner with them,"
said Mary Hagerty Ehrsam, Chief Executive Officer, Operation HOPE
(HOPE) New York Market. "Project Restore HOPE, with JPMorgan Chase's
support, will empower thousands of families and small businesses in NY
and NJ to get back on track financially and stay strong as they recover
through economic triage, financial guidance, and long-term planning.
HOPE is committed to coordinating every possible resource available to
support a full recovery. Working in partnership with government,
community, and the private sector, we will help restore hope and rebuild
In the aftermath of Superstorm Sandy, JPMorgan Chase was one of the
first companies to announce it would offer disaster relief, with up to
$5 billion of support for small businesses and $5 million in charitable
relief. The firm recently sponsored an event to restore photos for
families whose pictures were damaged by the storm. It also dispatched
food trucks into the hardest hit areas of New York City and launched
food drives to get food to the hungry, brought ATMs into severely
affected areas to help residents access funds, waived fees for
customers, reopened branches quickly and allowed anyone to charge their
electronic devices, and accepted donations to the American Red Cross
through its Rewards program and ATMs. The firm also organized programs
for employees to volunteer in hard-hit communities and help their
colleagues through an employee-to-employee fund.
About JPMorgan Chase & Co.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services
firm with assets of $2.4 trillion and operations worldwide. The firm is
a leader in investment banking, financial services for consumers and
small businesses, commercial banking, financial transaction processing,
asset management and private equity. A component of the Dow Jones
Industrial Average, JPMorgan Chase & Co. serves millions of consumers in
the United States and many of the world's most prominent corporate,
institutional and government clients under its J.P. Morgan and Chase
brands. More information is available at www.jpmorganchase.com.
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