Increasingly, foundations are partnering with local, state, and federal government to address the challenges facing Black men and boys. These cross-sector partnerships leverage resources and raise awareness to advance policies and create initiatives that benefit Black males and their communities.
JPMorgan Chase & Co.: My Brother’s Keeper
In 2014, President Obama launched the My Brother’s Keeper initiative to address persistent opportunity gaps faced by boys and young men of color and to ensure that all young people can reach their full potential. The White House reached out to cities and towns, businesses, and foundations to join in this effort.
The Fellowship Initiative
In 2010, JPMorgan Chase & Co. began a pilot project in New York City, The Fellowship Initiative (TFI), enrolling young men of color in a comprehensive, hands-on enrichment program that includes academic, social, and emotional support. After seeing remarkable success, and in response to Obama’s call to action, in 2014, JPMorgan Chase committed $10 million to expand TFI to Chicago and Los Angeles, along with a new, expanded class of Fellows in New York City.
TFI was designed and launched in response to growing concerns across the country about outcomes for young men of color. It is a comprehensive program that combines promising interventions from exemplary youth development, college access, and professional development programs to prepare students, starting in their sophomore year of high school, for education and professional success.
Highlights from the New York City pilot cohort include:
- All 24 Fellows who completed the pilot program graduated from high school on time;
- All gained admission to a four-year college program;
- Collectively, they received scholarships and grants totaling $8.4 million;
- More than half of the Fellows were the first in their family to attend college; and
- Fellows reported elevated academic goals, career aspirations, and life-changing personal growth
A critical component of the program is mentoring. Over 120 JPMorgan Chase staff have volunteered to serve as mentors to the Fellows — a significant commitment that includes weekly contact with the Fellows, assistance with college applications, ongoing coaching, and much more.
In addition to supporting programs that serve boys and men of color, JPMorgan Chase is committed to broader field building efforts, including:
- Skills Based Volunteerism: Hundreds of employees volunteer to support nonprofit organizations, focusing on leveraging technical skills to strengthen organizational capacity in key areas. The Campaign for Black Male Achievement and JPMorgan Chase are collaborating on ways to leverage corporate volunteers and work together to strengthen the capacity of CBMA members and to improve outcomes and opportunities for Black men and boys in targeted cities across the country.
- Rebuilding Detroit: JPMorgan Chase launched a $100 million, five-year commitment to the City of Detroit that will support local nonprofits and business development.
- Evaluation: In early 2015, JPMorgan Chase committed $10 million over five years for the Urban Institute, a nonprofit research organization, to examine the firm’s philanthropic initiatives focused on increasing economic opportunity and strengthening communities. As a part of this partnership, the Urban Institute will draw upon its deep expertise to produce research and analysis that will further strengthen our efforts to improve outcomes for boys and men of color.
Philanthropic Investments: Signature Initiatives
Through JPMorgan Chase’s philanthropic work, the firm creates economic opportunities for families and small businesses in economically distressed communities. In collaboration with community partners, the Foundation has developed and launched signature workforce development, financial capability, small business development, and community development initiatives, including:
- New Skills at Work, launched in 2013, is the largest private sector effort seeking to address the skills-gap issue. This is a $250 million, five-year initiative aimed at helping inform and accelerate efforts to develop demand-driven skills training so that workers and industries have the skills to compete and prosper in a global economy.
- In 2014, JPMorgan committed $30 million over five years to fund the creation and development of The Financial Solutions Lab to identify, test, and scale promising innovations that help people increase savings, improve credit, and build assets.
- In 2014, JPMorgan launched Small Business Forward, a $30 million, five-year initiative to support the formation, growth, and success of sector-specific small business clusters by helping non-profits provide small business owners with access to investors, managerial training, skilled workers, supply chains, facilities, and new markets.