COVID-19’s impact on our community is profound and everyone we know has been touched by it. The impact on the most vulnerable has stretched the need for resources during this crisis. That’s why at JPMorgan Chase, we are proud to support the efforts led by the United Way of Southern Nevada with a $25,000 contribution to help the populations most deeply affected.
JPMorgan Chase’s leadership and employees in Nevada have a fierce sense of commitment to the community and a strong record of volunteerism. When our community faces a challenge, we want to be part of the solution. Many of our employees have volunteered over the years with the United Way of Southern Nevada, most recently during the Day of Caring.
During this current crisis, UWSN has stepped up as a leader in creating a map of community resources and nonprofits and has led a weekly call where more than 200 nonprofits are engaged in supporting the community. By their estimates, more than 340,000 families will need support.
It’s truly a time for everyone to come together to help find a path forward for our community. Many are being affected by this crisis – from our colleagues, families and communities to our customers, clients and partners. It’s important we work together across businesses, governments and communities to assist those who need help the most.
Globally, JPMorgan Chase has stepped up with a $50 million philanthropic commitment to help address immediate humanitarian needs and long-term economic challenges posed by this worldwide pandemic. These funds will address both humanitarian and economic challenges, supporting vulnerable and underrepresented communities, small businesses and existing non-profit partners.
An initial $15 million commitment addressed three areas that helped deliver immediate relief to communities: $5 million to support global emergency relief efforts such as emergency medical supplies, food needs, and other critical health-related essentials, and to support partner organizations such as COVID-19 Solidarity Response Fund supporting the World Health Organization and Feeding America’s COVID-19 Response Fund; $8 million to assist small businesses in the U.S., China and Europe; and $2 million to help our existing global nonprofit partners.
The remaining $35 million will be deployed over time to help the most vulnerable communities and people recover from the crisis and have an opportunity to benefit from future economic growth. The firm will lean into its core areas of expertise to support the most vulnerable individuals, small businesses, and communities as they face financial hardship and uncertain work opportunities, shifting business landscape, and increased pressure to access or maintain affordable homes.