Investing in Opportunity

“Aside from the sheer amount of dollars being committed, there’s another important distinction to this program: Chase isn’t just writing checks and then leaving recipients to fend for themselves. The bank will deploy a team of in-house experts to consult with local nonprofits, small business backers and other groups getting funding.”

“[JPMorgan Chase & Co.] is upping the ante in part because the firm sees problems – inequality and displacement – that are likely to worsen and an opportunity – the Bridge Park – it considers ‘a genuine opportunity to make a difference,’ said Peter Scher, the firm’s chairman for the D.C. region.”

“[T]he bank has established itself as a clear leader among corporate funders… As a giant financial institution, it’s able to pull important levers to make an impact on entrenched economic problems that aren’t available to traditional grantmakers.”