JPM: JP Morgan Chase: JPMorgan Chase Announces Third Round of Charitable
Grants for Superstorm Sandy Relief
UK Regulatory Announcement
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 communities."
Nine organizations and initiatives working in the New York/New Jersey region
will receive grants as follows:
*Operation 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.
*All 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.
*The Bridge Fund of New York Inc. ($75,000) will use this funding to
provide needed financial support to working underserved families in
*Long 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 from FEMA.
*Sandy 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
*Accion 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 Superstorm Sandy.
*Empire 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 NJto get back on track financially
and stay strong as they recover through economictriage, 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
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 $2.4trillion 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
JPMorgan Chase & Co.
Jennifer Kim, 212-622-7068
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