For the second time this month, the banking giant JPMorgan Chase & Co. is unveiling a multimillion-dollar grant award that’s aimed, in part, at helping neighborhoods in Boston.
Chief executive Jamie Dimon is scheduled to appear at a virtual event on Tuesday with Governor Charlie Baker to announce $35 million worth of grants to be doled out to career readiness initiatives in five cities. The other four beneficiaries in this round are Dallas, Indianapolis, Nashville, and Columbus, Ohio. These grants are part of a $75 million initiative that the New York company announced in February.
In Boston’s case, the bank is giving $7 million over five years to a program overseen by the local nonprofit EdVestors that will strengthen career and college preparations in the city’s public schools.
EdVestors’ chief executive, Marinell Rousmaniere, said the program will focus on three to five schools, while some of the work will help other high schools in the Boston Public Schools system, as well. Most of the money, at least at the start, will be used to pay for staffing, she said. Among other things, the program could bring changes in coursework and connect students to internships, she said. It could also help students choose classes and extracurricular activities to better situate themselves for jobs down the line.
“We want students to have the information to make the best decisions for themselves about what those paths should be,” Rousmaniere said.
Local partners include Bunker Hill Community College, the University of Massachusetts Boston, the Boston Private Industry Council, and the Boston Foundation, as well as city and state agencies.
The announcement comes nearly two weeks after JPMorgan Chase awarded $5 million over three years to a Boston Medical Center-led initiative to support job training and affordable housing for residents of Roxbury, Dorchester, and Mattapan.
Abby Marquand, philanthropy program officer at JPMorgan Chase, said it’s a coincidence that these grant awards are happening in Boston while the bank is in the midst of expanding its retail presence here. The company now has 19 Chase branches in the Boston area, up from zero two years ago. “It’s a fortuitous moment for Boston,” she said.