Nov 19, 2014
J.P. Morgan was named Scotland's "Corporate Supporter of the Year" for its work with Tomorrow's People, a national employment charity that helps individuals facing challenges with getting—and keeping—a job. An innovative approach to corporate philanthropy, the partnership between J.P. Morgan and Tomorrow's People combines strategically focused financial support with practical feedback and advice.
The JPMorgan Chase Foundation awarded a grant that helped develop the new "Working It Out" program in Edinburgh, which aims to support unemployed young people between the ages of 16 and 24 and help them gain employment. Since the start of the program in Muirhouse, 74 percent of participants have moved into employment or training or back into education.
In addition to the "Working it Out" program, the firm's support helped Tomorrow's People develop its retail charity enterprises. The first store in Scotland, set up in Glasgow in January, sells second-hand clothes, furniture and household appliances. The store is generating income for Tomorrow's People as well as offering valuable work experience and employment opportunities to clients.
J.P. Morgan is also providing financial awareness sessions to Tomorrow's People programs across Glasgow and Edinburgh. In these sessions, employees help young people, who have little experience managing their own finances, understand how wages work and the tax implications of employment. Mentors also raise issues with participants around the risks involved with loans, credit cards and payday lenders.