New York, May 31, 2011 - JPMorgan Chase announced today it would commit $225,000 to the relief and recovery effort following the devastating tornado in Joplin, Mo. on May 22.
JPMorgan Chase will provide $100,000 to the American Red Cross to provide temporary medical assistance, food and water, and sanitation services in the devastated areas.
In addition, JPMorgan Chase will donate $25,000 to Convoy of Hope, a Springfield, Mo.-based disaster-response nonprofit. Founded in 1994, Convoy of Hope has served more than 43 million people worldwide, and will play a pivotal role in Joplin's relief effort. The organization immediately responded to the disaster, sending tractor-trailers loaded with food and water early on May 23.
The bank also will encourage its 250,000 employees to contribute to the relief efforts, matching up to a total of $100,000 of employee contributions made to The American Red Cross via a special employee donation website. Contributions eligible for the match must be made through the website.
The JPMorgan Chase Foundation has donated more than $500 million to non-profit organizations over the last five years, with a particular focus on communities around the world devastated by catastrophic events. The Foundation recently provided $250,000 to the relief efforts in areas affect by tornadoes in Alabama.
About JPMorgan Chase & Co.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.2 trillion and operations in more than 60 countries. The Firm is a leader in investment banking, financial services for consumers, small-business and commercial banking, financial transaction processing, asset management and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world's most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.