Grant Details

JP Morgan Chase - Annual Challenge

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Maximum Grant Amount
$3,000,000
Deadline
June 27, 2022
Description

JP Morgan Chase is accepting applications to the Annual Challenge (formerly called the AdvancingCities Challenge). The first step is a call for ideas. Select applicants will be invited to complete a full application and virtual interview in August.

This annual competition sources innovation to drive systemic change in U.S. cities, helping support economic opportunity for more people by leveraging meaningful collaboration among private, public, and nonprofit leaders.

This year, the focus is on support innovative, sustainable solutions that help drive wealth creation for and economic success of women of color, which is foundational to building more equitable communities and furthering an inclusive economic recovery.

There are four focus areas:
quoted directly from the guidelines

Equitable access to careers and skills for the future
As the global economy evolves, it is critical that workers have the tools and skills they need to be able to adapt to the changing labor market. At JPMC, we help strengthen communities by supporting training and education systems to develop better education-to-career pipelines that can deliver more equitable opportunities and outcomes – especially for people of color and other disadvantaged populations. Through our philanthropy, we invest in training and skills development to advance low-income workers to higher quality jobs and to build the capacity of community colleges, college systems, educational institutions, and community-based workforce and training institutions globally to improve workforce and educational outcomes. We also seek to build intermediary capacity at the regional, national and multinational levels so that workforce, education, and training systems are more efficient, integrated, adaptive, and responsive to business needs.

Building strong financial health and security
COVID and the resulting economic impacts have weakened the overall financial security of households and exacerbated existing racial, gender and income gaps. Sound financial health is the foundation upon which strong households, communities, and economies are built, yet more than two-thirds of U.S. households financially unhealthy. At JPMC, building financial security lies at the heart of our strategy to drive inclusive recovery and growth. Our work supports financial product and service design and delivery to address the unique financial needs of low- to moderate-income families as well as embedded financial coaching and benefits in community-based organizations to accelerate economic opportunity (e.g., small business growth, home ownership, career pathways).

Safe and affordable housing in thriving neighborhoods
Safe and affordable housing is a crucial precondition for neighborhood stability and economic opportunity. Where one lives is a strong determinant of key economic, health, and social outcomes. However, for far too many people, access to quality, affordable housing is increasingly out of reach. Firm-wide, JPMC seeks to leverage all our assets to fundamentally change the housing ecosystem to better serve cost-burdened households of color so that everyone has access to safe, affordable homes in thriving neighborhoods.

Parity in business performance for underrepresented small businesses
JPMC’s grantmaking seeks to improve the success and sustainability of diverse small businesses, the organizations and ecosystems that support them, and the communities within which they all operate. To produce the greatest impact, we strive to ensure people can effectively utilize business ownership to increase their own wealth and support the economic development of under-resourced communities. Through our work, we place a particular focus on underrepresented entrepreneurs, including women, people of color, migrants, and veterans across the world. 

Eligibility
  • Be incorporated or organized in the United States or its territories, have been duly organized and validly exist, and maintain a primary place of business in the United States;
  • Be a not-for-profit organization exempt from federal income taxation under Section 501(c)(3) of the Internal Revenue Code of 1986, as amended (the “Code”), and classified as a public charity under Code Sections 509(a)(1) or 509(a)(2);
  • Have demonstrated expertise in the community and oversight that corresponds with the intended geography;
  • Show a track record of strong financial management, including a clean audit;
  • Have strong organizational leadership and management, including demonstrating a commitment to diversity, equity and inclusion within the organization, particularly at the senior staff and board levels;
  • Target activities within ONE of the eligible markets, listed below;
  • Achieve all deliverables outlined within a three-year time frame; and
  • Participate in peer-learning and impact assessment activities, and fulfill all reporting requirements outlined in the application and grant agreement.

Geographic Eligibility
The collaborative must focus activities within the list of Eligible Markets. Activities can focus on a specific neighborhood, single city, MSA, or other contiguous geography within an eligible MSA. 

Below is the list of 20 MSAs from which proposals will be accepted.
• Atlanta-Sandy Springs-Alpharetta, GA
• Baltimore-Columbia-Towson, MD
• Boston-Cambridge-Newton, MA-NH
• Chicago-Naperville-Elgin, IL-IN-WI
• Columbus, OH
• Dallas-Fort Worth-Arlington, TX
• Denver-Aurora-Lakewood, CO
• Detroit-Warren-Dearborn, MI
• Houston-The Woodlands-Sugar Land, TX
• Indianapolis-Carmel-Anderson, IN
• Los Angeles-Long Beach-Anaheim, CA
• Miami-Fort Lauderdale-Pompano Beach, FL
• New Orleans-Metairie, LA
• New York-Newark-Jersey City, NY-NJ-PA
• Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Phoenix-Mesa-Chandler, AZ
• Riverside-San Bernardino-Ontario, CA
• San Francisco-Oakland-Berkeley, CA
• Seattle-Tacoma-Bellevue, WA
• Washington-Arlington-Alexandria, DC-VA-MD-WV


Notes from your Grant Gopher team: The maximum grant has been reduced from $5M to $3M. In addition, the geographic eligibility and focus areas have changed. If you have saved this grant to apply in future years, be sure to double check your geographic eligibility each year.

Grant information was last reviewed by our staff on 5/24/2022

Application Link
Go directly to guidelines and application

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