Program expansion will triple the number of Fellows who receive intensive academic and career readiness support over the next 10 years
Graduates from New York, Chicago, Dallas and Los Angeles have a 100% college acceptance rate; more than half are first in their families to go to college
NEW YORK--(BUSINESS WIRE)--Jun. 10, 2020--
JPMorgan Chase & Co. (NYSE: JPM) (“JPMorgan Chase” or the “Firm”) is today marking the 10th anniversary of The Fellowship Initiative (TFI) with a renewed commitment to improving economic and social outcomes for Black and Latinx men, as well as other young men of color, from low-income communities.
During this time of crisis, when too many people of color are not treated equally and lack access to opportunity, TFI will triple the number of young people it serves to more than 1,000 over ten years and across several U.S. cities, building on the firm’s commitment to preparing youth for the future of work through its New Skills programs.
“These young men are America’s next generation of leaders. But too often, they are held back from achieving academic and professional success,” said Jamie Dimon, JPMorgan Chase Chairman and CEO. “The COVID-19 pandemic and death of George Floyd and many others reinforced how our nation’s history with racism and inequality remains unresolved. Together, we must continue to break down the barriers created by structural racism and focus on doing what is right. Over the last decade, The Fellowship Initiative has demonstrated what is possible when these barriers are broken down. Now is a time to address gaps in academic and economic opportunity and to fight for inclusion, which is why we’re expanding TFI so that more Fellows are given the chance to reach their full potential.”
10 Years of Breaking Down Barriers
Over the past decade, TFI has matched more than 350 high school Fellows in New York, Chicago, Dallas and Los Angeles, with JPMorgan Chase employees, who serve as mentors for three years, to receive coaching, academic support and leadership development that helps prepare them for college and career success. The program has driven 100 percent admission to college among graduating Fellows, with more than half of the Fellows being the first in their family to attend college.
These results are particularly significant given new research from the Urban Institute showing that compared to their peers, young men of color from low-income communities are less likely to graduate high school (20 percent lower rates), earn a bachelor’s degree (50 percent lower rates) and secure employment and career advancement. This data is further supported by JPMorgan Chase Instituteresearch, which found that Black and Latinx adult men have fewer liquid assets and earn less – 66 percent and 72 percent respectively – of what their white counterparts earn.
Celebrating the 2020 Fellows
JPMorgan Chase today hosted a virtual graduation ceremony to commemorate TFI’s 10th anniversary and celebrate the achievements of the 2020 graduating class. Featuring the Fellows, Mentors and senior leaders, including Jamie Dimon, the event included a keynote address delivered by Wes Moore, CEO of Robin Hood. JPMorgan Chase also shared plans for TFI’s expansion to triple their reach to over 1,000 students over the next decade.
“What makes The Fellowship Initiative such a special program is that it’s not just about the grades and college acceptance letters,” said Wes Moore, CEO of Robin Hood. “It’s about giving young men of color a network of peers and mentors that they can rely on and the confidence to believe that they can thrive, and the supports to help them do so, both professionally and personally, in a world that has too often made them feel that they don’t belong.”
TFI History and Expansion
Founded in 2010, TFI provides comprehensive and hands-on academic, social and emotional support to young men of color in high school. Fellows graduate from the program better prepared for personal and professional success. Given the program’s success and recognizing the urgent need to continue investing in improved outcomes for young men of color, JPMorgan Chase will expand TFI in Chicago, Dallas, Los Angeles and New York, and add three more cities later this year in continued collaboration with educators, local and national leaders and partner organizations.
Program components include academic training and project-based learning during the school year and summer, one-on-one mentoring with JPMorgan Chase Mentors, mental health support, college readiness and planning support, professional and leadership development, and career awareness activities.
“The Fellowship Initiative has prepared us for academic success and given us the skills and relationships we need to accomplish our goals, support our families and be leaders in our communities and careers,” said Mahmood Akere, a TFI fellow in Chicago. “As I step into a world upended by the current crises, I know that the heightened uncertainty will impact my future, particularly as a young man of color. Thankfully, this program has taught me to recognize my own resilience and the skills I will need to seize the opportunities that lie ahead.”
To date, more than 350 JPMorgan Chase employees have donated their time to serve as TFI Mentors, coaches, role models, speakers or volunteers.
: Launched in 2010, the program has 60 alumni who went on to pursue college degrees with 57 Fellows in the 2020 graduating class. Local partners include: Bard College and Groundswell.
: Launched in 2014, the program has 39 alumni who went on to pursue college degrees with 54 more Fellows in the 2020 graduating class. Local partners include: Center for College Access and Success, Mikva Challenge, Young Chicago Authors, University of Illinois at Chicago’s Chance Program and Chicago Scholars.
: Launched in 2014, the program has 38 alumni who went on to pursue college degrees with 38 more Fellows in the 2020 graduating class. Local partners include: Social Justice Learning Institute, Brotherhood Crusade and ScholarMatch.
: As the newest site, 39 Fellows will complete the program in 2020. The program is led by Big Thought in Dallas. Additional local partners include: The University of North Texas at Dallas, The Budd Center at SMU, House of Shine, Institute for Urban Policy Research, The Writer’s Garret and Young Leaders Strong Cities
Additional national partners include MENTOR: The National Mentoring Partnership, Bottom Line, Outward Bound, Campaign for Black Male Achievement, the Experiment in International Living and Vibrant.
“Being a mentor to the young men in The Fellowship Initiative has filled me with hope for our future,” said Malcolm Johnson, a TFI mentor based in Los Angeles. “It is an honor to build authentic relationships with the Fellows, support them, learn from them, and witness their growth from students with incredible potential to the leaders our communities need. There are remarkable young people of color in cities across the country who are too often overlooked and do not have access to the support and opportunities they need to thrive.”
For more information about TFI, please visit the TFI home page. You can also follow #ShowMeYourWalk on social media to hear from the graduating Fellows.
History of Investing in Jobs and Skills Training
Our investment in TFI is part of the firm’s broader commitment to removing barriers to economic opportunity. In 2019, the firm announced a $350 million, five-year global initiative to prepare people for the future of work. With a focus on creating economic mobility and building career pathways for underserved communities, New Skills will also help forecast emerging skill sets for JPMorgan Chase employees and proactively develop new training programs to prepare the firm’s workforce for changes in technology and business.
The firm is also using its global business resources and expertise to drive policy changes that lead to inclusive economic growth. Launched in 2019, the JPMorgan Chase PolicyCenter works with policy, business and community leaders to drive effective solutions at all levels of government. This effort includes advancing public policy agendas for issues such as career readiness for youth and giving people with criminal backgrounds a second chance by supporting their reentry into the workforce, community and local economies.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $3.1 trillion and operations worldwide. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of customers 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.
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