JPMorgan Chase Recognizes Recipients of World Trade Center Disaster Relief Grants.
NEW YORK--(BUSINESS WIRE)--June 24, 2002
At a breakfast gathering at the firm's world headquarters today, William B. Harrison, Jr., Chairman and Chief Executive Officer, J.P. Morgan Chase & Co. (NYSE: JPM) and a trustee of The J.P. Morgan Chase Foundation, recognized more than 50 non-profits and other organizations as the recipients of grants from a $10 million pledge made to World Trade Center disaster relief efforts last September.
In addition to the pledge of $10 million, $2.7 million in donations by JPMorgan Chase employees and retirees from around the globe through year-end 2001 were matched dollar for dollar by The J.P. Morgan Chase Foundation, raising another $5.4 million for World Trade Center disaster relief efforts.
"Within days of September 11th, it was clear to us, not just as New Yorkers but as Americans, that we should do whatever we could to help our city heal and regain its strength," Mr. Harrison told the gathering. "Combined with gifts from our employees, I am proud that we have given such a substantial contribution."
Mr. Harrison described the Foundation's approach to awarding the grants. "In our desire to fulfill our pledge through grants that would make a difference to victims and their families in the metropolitan area, we identified opportunities to impact three major areas of concern: the economic redevelopment of Lower Manhattan; support for victims and families through services ranging from financial planning to psychiatric counseling to affordable housing and food; and, diversity and tolerance," he said.
With respect to diversity and tolerance, Mr. Harrison added: "Diversity has been a key value at JPMorgan Chase. Following September 11th, we felt it was more important than ever to support the major institutions that promote understanding and tolerance, and to celebrate the diverse religious, ethnic and racial groups around the world."
Today's gathering celebrated all of the contributions made since December 2001, when the first round of 26 grants, totaling $6.5 million, was distributed by The J.P. Morgan Chase Foundation. Top management was actively involved in reviewing and approving the grants. In two subsequent rounds, additional grants totaling $3 million were approved and distributed.
Regarding the firm's future commitment to World Trade Center relief efforts, Michael Feller, President of The J.P. Morgan Chase Foundation, noted that JPMorgan Chase's annual philanthropic giving would continue to support organizations responding to the effects of the September 11th tragedies.
A list of grant recipients recognized at today's event follows.
ACCION New York 500,000 Asian American Federation of New York, Inc. 175,000 Asian Americans for Equality 250,000 Battery Dance Corporation (for Dance Festival on the Plaza)(a) 15,000 Borough of Manhattan Community College 500,000 The Bridge Fund of New York, Inc. 100,000 Brooklyn Economic Development Corporation 100,000 Brooklyn Economic Development Corporation (for REDAC) 50,000 Church of the Holy Apostles (for Soup Kitchen) 100,000 City Harvest, Inc. 250,000 City Limits Information Service, Inc. 75,000 Civic Capital Corporation 500,000 Coalition of Voluntary Mental Health Agencies, Inc. 175,000 Community Food Bank of New Jersey, Inc. 50,000 Community Food Resource Center, Inc. 90,000 Community Resource Exchange, Inc. 150,000 Creative Response to Conflict, Inc. 100,000 Education & Research Foundation of Better Business Bureau of Metro NY, Inc. 50,000 Educational Broadcasting Corporation (for several episodes of "Kids Cope") 250,000 Educators for Social Responsibility Metro Area, Inc. 150,000 Financial Planning Association(a) 230,000 Financial Planning Association(a) 10,000 Food for Survival, Inc. 350,000 Fund for the City of New York 500,000 Hispanic Federation of New York City, Inc. 175,000 Joseph P. Addabbo Family Health Center, The 37,500 Lambda Legal Defense and Education Fund 75,000 Lawyers Alliance for New York 100,000 Lower East Side District Management Association, Inc. 25,000 Mercy Corps International ("for Comfort for Kids") 200,000 The Municipal Art Society of New York 50,000 New Visions for Public Schools, Inc. ("for Project STOP - Schools Teaching Options for Peace") 265,000 New York City Gay and Lesbian Anti-Violence Project, Inc. 75,000 New York Foundation for the Arts 375,000 New York Immigration Coalition, Inc. 75,000 New York Regional Association of Grantmakers, Inc. 75,000 Newark Emergency Services for Families, Inc. 25,000 Nonprofit Coordinating Committee of New York, Inc. 50,000 Nonprofit Finance Fund 1,000,000 North Brooklyn Development Corporation (i/s/o Brooklyn Woods, Inc.) 25,000 NpowerNY, Inc. 350,000 NYU Downtown Hospital 250,000 Pace University (for Psychology Department) 200,000 Partnership for After School Education, Inc. 50,000 Per Scholas, Inc. (for NYC Fire Department Initiative) 155,000 Renaissance Economic Development Corporation 200,000 Safe Horizon, Inc. 500,000 The Salvation Army - New Jersey Division Headquarters 100,000 Wall Street Rising Corporation 250,000 Westchester Community Opportunity Program, Inc. 20,000 Within Reach, Inc. ( i/s/o Churches United to Save and Heal, Inc.) 35,000 Women's Venture Fund, Inc. 100,000 (b) Total $9,557,500 (a) Donation made by JPMorgan Chase Bank (b) More than $500,000 in funds from the $10 million are still available and will be distributed shortly.
J.P. Morgan Chase & Co. is a leading global financial services firm with assets of $713 billion and operations in more than 50 countries. With relationships with over 99% of the Fortune 1000 companies, the firm is a leader in investment banking, asset management, private banking, private equity, custody and transaction services, and retail and middle market financial services. A component of the Dow Jones Industrial Average, JPMorgan Chase is headquartered in New York and serves more than 30 million consumer customers and the world's most prominent corporate, institutional and government clients. Information about JPMorgan Chase is available on the internet at www.jpmorganchase.com.
The J.P. Morgan Chase Foundation is an independent, tax-exempt organization providing contributions to nonprofit agencies throughout the United States and around the world. The Foundation's prime focus areas of interest are community development, human services, pre-collegiate education, and arts and culture serving primarily low- and moderate-income neighborhoods that seek to strengthen the fabric of communities and increase the appreciation of diversity.