JP Morgan Chase 2005 Annual Report Download - page 14

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V. Are we a good corporate citizen?
JPMorgan Chase has been – and will continue to be –
agood corporate citizen. It is vitally important and
enormously gratifying to all of us. Our commitment to
our communities is deep, broad and multifaceted. We
strive to be a great place to work and do business, and our
success allows us to give back to the neighborhoods and
cities we serve.
In one sense, we view ourselves as a small business. If we
were the neighborhood store, we would give kids summer
jobs, sponsor local sports teams and support community-
based organizations. We operate this way in many of our
communities around the world, striving to be as supportive
as we can in all the communities we serve.
We add value by focusing on issues that are universally
important, including education and community develop-
ment. We dedicate resources to develop signature programs
that help communities overcome the challenges they face in
these areas. We are morally, programmatically and institu-
tionally committed to inclusiveness and diversity.
JPMorgan Chase contributes more than $ million annu-
ally to support local, national and international initiatives.
Examples include:
•Chase Early Emergent Leaders in Arizona, where
we are funding a leadership and training program, and
providing technological assistance and training in
literacy skills.
•Corporation for Supportive Housing in Ohio, where
we are helping the homeless as well as individuals recov-
ering from drug and alcohol addiction by giving them
access to  units of affordable housing and providing
them with the support they need to live independent,
responsible and healthy lives.
•South Bank Centre in London, where we are support-
ing music and technology education that will help bring
artistic programs to thousands of young people.
•DonorsChoose in Chicago, where we are participating
in an effort that uses the Internet to connect donors
nationwide with underserved classrooms. We are helping
to expand this program for public schools in states
affected by Hurricane Katrina.
•StreetSquash in New York City’s Harlem neighbor-
hood, where we are funding a community youth facility
that will serve over , students through academic and
athletic programs.
•Wilmington Housing Partnership in Delaware, where
our support is helping develop over  affordable hous-
ing units in our local communities.
Our commitment to community involvement goes well
beyond philanthropy.Across the country and around the
world, we bring this commitment to life through a broad
range of initiatives:
•Community reinvestment. Wehave received outstand-
ing ratings under the Community Reinvestment Act. In
the past two years, we have fulfilled $ billion of an
$ billion, -year commitment in the United States
to provide community-development loans and invest-
ments, small business loans and consumer mortgages for
lower-income and minority households.
•Community schools. We support community schools,
which cost-effectively provide students in low-income
communities with access to a broad range of services,
including academic, health and extracurricular activities.
In Chicago, we are partnering with the civic community,
nonprofit groups and the Chicago Public School system
to bring this model to scale. Todate,  schools (%)
have been converted into community schools.
•Youth opportunity. Weprovide scholarships and
internships to the underprivileged through our
Smart Start program in New York City,and intend to
expand the program to Louisiana in .In both the
United States and the United Kingdom, we work to
place outstanding students of color in summer intern
positions through Sponsors for Educational Opportunity.
Weare also a significant contributor to UNCF.