JPMorgan Chase relaunches AdvancingCities Challenge with commitment to tackle economic disparities for Black women and Latinas

May 20, 2021

Recognizing the systemic barriers to economic opportunity faced by women of color, JPMorgan Chase (JPMC) has relaunched its AdvancingCities Challenge in 2021 with a new focus on directly supporting projects designed, led, and implemented by Black women and Latinas. Building on its experience investing in projects focused on supporting inclusive economies, and as part of the larger AdvancingCities strategy, JPMC is seeking collaborative solutions to challenge and disrupt the policies, programs, and institutional practices that have continued to thwart the equitable access to economic opportunities for Black women and Latinas.

The AdvancingCities initiative was launched in 2018 with a $500 million dollar commitment over five years to “invest in solutions that bolster the long-term vitality of the world’s cities and the communities within them that have not benefited from economic growth.” Leveraging collaboration across industry, government, philanthropies, nonprofits, and other anchor institutions to dismantle systemic barriers to economic mobility, the 2021 Challenge will award three-year grants of up to $5 million each to approximately eight projects.

Specifically, projects should leverage cross-sector leadership and collaboration and focus on solutions impacting Black women and Latinas in their prime working and wealth building years (ages 16 and up). Based on the Wealth Creation Framework graphic pictured below, projects targeting this demographic should focus on the “Wealth Accelerators” highlighted in blue. These include 1) education, skills, and training; 2) careers and income; 3) financial health; 4) small business and entrepreneurship; and 5) affordable housing. Proposals must be submitted via the AdvancingCities website by June 28, 2021.

equity, funding