JP Morgan Chase 2003 Annual Report Download - page 19

Download and view the complete annual report

Please find page 19 of the 2003 JP Morgan Chase annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 140

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140

J.P. Morgan Chase & Co. / 2003 Annual Report 17
and making
our communities thrive
JPMorgan Chase vigorously supports the development and prosperity of the communities it serves. Committing
time, money and creativity, the firm and its employees make a difference at crucial development stages for
cultural and human-services organizations; countries and societies; and individuals. Our efforts support human
services and education providers, sponsor artistic and cultural endeavors, make homeownership possible for
minorities and spur sustainable economic development – all necessary ingredients to help communities flourish.
Realizing dreams: minority homeownership
In the United States today, fewer than 50% of minority households and other under-served
markets own their homes, while just under 70% of the total population are homeowners. The
Chase Dream Maker Commitment SM,a 10-year, $500 billion initiative by Chase Home Finance
(CHF), helps those who aspire to homeownership to achieve their dream – sustainably.
The Chase Dream Maker Commitment SM initiative provides more than capital. Through seminars
and other financial-education programs, CHF provides greater access to information about the
mortgage process and promotes homeownership as a prudent wealth-building investment.
This initiative – which in its first three years has already originated $182 billion of its total 10-year
commitment – is helping to make the American dream a reality for thousands of Americans.
Fostering a rebirth: South Africa initiatives
In 2003, JPMorgan Chase helped advance South Africa’s transformation into a thriving, first-
world economy by providing financial advice, resources and capital to companies, organiza-
tions, schools and individuals in the region.
A prime example was the firm’s advisory role in Harmony Gold Mining Co.’s sale of a 10% equity
stake. The transaction made Harmony the leading black-empowered South African gold mining
company, and it cemented JPMorgan’s position as the leading M&A advisor in South Africa.
JPM organ Chase also continued its support of South African charitable organizations. Through
our local foundation, The JPMorgan South Africa Foundation, the firm provided $486,000 to
charities offering aid for education, HIV, the elderly and the disabled.
Establishing leadership: corporate philanthropy
From supporting pre-collegiate education to assisting with the economic empowerment of
women, the J.P. Morgan Chase Foundation reached out to the firm’s many communities through
its 2003 philanthropic programs.
Grants and recoverable grants to the Low Income Investment Fund helped capitalize the con-
struction and expansion of childcare facilities in New York and California. Foundation contribu-
tions to Pro Mujer bolstered that organization’s work with entrepreneurial women in Peru
and Mexico. Another grant helped Freedom from Hunger provide small cash loans and health
and nutrition education to women living in rural areas of the developing world.
The examples are international, the theme universal: the foundation was a valuable partner
in strengthening the global community.