JPMorgan Chase is committing $30 million over five years to support Historically Black Colleges and Universities (HBCUs), expanding on the firm’s Advancing Black Pathways initiative which launched in 2019 to help black students.

Over the past two years, the firm has increased the number of its HBCU partnerships from three to 19 with each of the partner schools located in or near where JPMorgan Chase does business.

The commitment includes $3 million in philanthropic capital provided to five HBCUs and $2 million in philanthropic capital provided to UNCF (United Negro College Fund) and its Institute for Capacity Building to help these institutions increase student completion of career pathways and scale their operational models to improve student success.

Byna Elliott, global head of Advancing Black Pathways, said: “Deepening our relationships with HBCUs is an important step to breaking down barriers and creating more access to economic opportunity for black students. This commitment offers HBCUs the flexibility they need to meet the unique needs of their students and provide the next generation with access to tools and resources to get ahead.”

Monique Baptiste, head of jobs and skills, global philanthropy at JPMorgan Chase, said: “HBCUs have been producing top talent for decades and are uniquely positioned to accelerate economic mobility for students of colour. Helping these institutions build capacity to support more students as they successfully transition from college to in-demand jobs is critically important to building a more inclusive and equitable future. Together, we can help empower a new generation of leaders and create more opportunities for all.”

Edward Smith-Lewis, vice-president, strategic partnerships and institutional programs at UNCF, said: “Recognising the transformational impact that a college education can provide, JPMorgan Chase is a generous and thoughtful partner and embraces UNCF’s mission to prepare students for career and entrepreneurial opportunities in the 21st century. We are deeply grateful to JPMorgan Chase for their generosity and look forward to continuing our partnership for many years to come.”

Date Published: 20 June 2022

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