JPMorgan Chase Foundation announced on Monday that it would provide $6.3 million in grants to help first-time homebuyers prepare to become homeowners, develop housing in low- and middle-income communities and to prevent homelessness.
“Many communities continue to struggle from the recession,” Janis Bowdler, the senior program director for financial capability and affordable housing at the JPMorgan Chase Foundation, said. “These grants will help further the great work of our nonprofit partners by helping low- and moderate-income families obtain affordable housing and improve their quality of life.”
The grants will allow nonprofits to expand their existing programs, test new ideas and provide critical services to American communities. Approximately one-third of the company’s contributions go towards helping minorities in underserved communities. The programs will be administered in various languages.
Grants were presented to NeighborWorks America, which received $1.5 million to provide training and assistance to housing counseling providers; LISC and Enterprise Community Partners, which will invest $2 million to support housing predevelopment and other programs that link affordable housing to economic development; and the National Council of La Raza, National Urban League and National Coalition for Asian Pacific American Community Development, which will use $1.8 million to support housing counseling networks.
Other grant recipients include Housing Partnership Network, which will use the $450,000 grant to fund innovative programs to help homeowners facing foreclosure and to test Framework, an interactive online homebuyer education platform; Community Solutions, which will use $370,000 to help local leaders maximize resources to provide housing to homeless veterans; and the National Association of Latino Community Asset Builders, which will use $250,000 to build on its Neighborhood Stabilization Program.