Facebook Fans To Help Deliver Corporate Philanthropy
Tuesday, 8th December 2009 at 10:32 am
Chase and Facebook have launched the Chase Community Giving: You Decide What Matters campaign; a grassroots campaign which they hope will inspire a new way of corporate philanthropy.
Chase is enlisting Facebook users, now totaling more than 300 million, to vote for which small and local Not for Profits will receive donations totaling $5 million. The eligible charity receiving the most votes will be awarded $1 million, the top five runners-up will receive $100,000 each and the 100 finalists, including the top winners, will be awarded $25,000 each.
Additionally, a special Advisory Board featuring members who are active in philanthropy, including actress Eva Longoria, Do Something founder Nancy Lublin and NBA Hall of Famer David Robinson, will allocate a total of $1 million to the nominated charities of its choice.
Jamie Dimon, Chairman and CEO of JPMorgan Chase & Co says that every year, the company donates more than $100 million to Not for Profit organisations in local communities, nationally and abroad, and their employees dedicate countless hours of their own time to helping those in need.
Dimon says the grassroots nature of Facebook will allow the company to hear directly which local charities matter most to their communities, hopefully creating an even bigger impact.
Sheryl Sandberg, COO of Facebook says Facebook has become a global platform people use for all types of philanthropic causes from medical research and human rights, to disaster assistance and children’s rights.
Sandberg says Chase’s creative approach — crowdsourcing for charity — puts the power of corporate giving directly in the hands of Facebook users.
She says thanks to the Chase Community Giving program, millions of Americans will be able to join together to have an unprecedented philanthropic impact on communities across the nation.
Chase says the $5 million Facebook effort is in addition to the bank’s traditional philanthropic giving, and if successful, the bank hopes to commit more of its annual philanthropy funds using this innovative method of giving.
And here’s how it works…
In Round One of the Chase Community Giving program, Facebook users will vote for NFP organisations they think should receive a portion of Chase’s philanthropy funds. To reinforce the local focus of this program, 501( c)(3) NFPs with an operating budget of $10 million or less will be eligible. Facebook users will be able to nominate NFPs that serve the general public in the following areas: education, healthcare, housing, the environment, combating hunger, arts and culture, human services and animal welfare. The Chase Community Giving Advisory Board will review the top vote-getters to help ensure compliance with the program’s rules. On December 15, the top 100 qualified vote-getters will be announced to receive $25,000 each, and will move on to the next round.
In Round Two, the top 100 organisations will have the option to submit a Million Dollar Grant proposal to Facebook users, detailing the difference they would make in their local community with the significant extra resources. Facebook users will vote starting January 15, and on February 1, the qualified organisation receiving the most votes will be announced as the winner of a Million Dollar Grant from Chase. The next five organisations with the most votes will receive $100,000 each. Additionally, the Advisory Board will donate $1 million to the nominated charities of its choice.
In addition to the donations made through the program, Chase will provide a $25,000 honorarium to each Board member who does not work for Chase or Facebook, to donate to the charity of their personal choice.
Chase is the U.S. consumer and commercial banking business of JPMorgan Chase & Co. (NYSE: JPM), which operates more than 5,100 branches and 15,000 ATMs nationally under the Chase brand.
Check it out on Facebook at apps.facebook.com/chasecommunitygiving