JP Morgan Chase Foundation Grants $75,000 to Support Vibrant Communities Program in Seattle

SEATTLE, WA - January 27, 201 0- The JPMorgan Chase Foundation has provided Impact Capital with a $75,000 grant to support the organization's Vibrant Communities program. Vibrant Communities is a comprehensive neighborhood revitalization program that operates in several Seattle neighborhoods and recently launched in Spokane. JPMorgan Chase's funding will enable Impact Capital to focus on creating vibrant commercial corridors in the Seattle-area programs including White Center, the Chinatown International District, and the MLK and Othello area. 

"Our goal is to invest, transform, and sustain community revitalization," said Tracy Reich, Senior Program Officer at Impact Capital. "We do this by investing in local nonprofits and stakeholders that will work with us in partnership to transform their communities. By assisting them to develop their organizational capacity, fundraising ability, partnerships and expertise, we help empower them to sustain the positive change in their neighborhoods."

Impact Capital will use the JPMorgan Chase Foundation grant to help complete the goals and outcomes of each neighborhood's plan for revitalization. The Vibrant Communities program is fully dedicated to implementation of the neighborhood's action plan, including the completion of short, mid and long-term goals, creation of progress markers such as report cards or community summits, and progress towards accomplishing the program's overarching goals. "This grant will be used to help us work with local nonprofit organizations to boost commercial corridor vibrancy in these neighborhoods. We want to increase pedestrian activity, enhance streetscapes, and attract new businesses while improving access to financial products and services for area residents," stated Ms. Reich. 

With this new grant, the JPMorgan Chase Foundation will expand its support of Impact Capital to help fund the organization's community building programs in Seattle and Spokane. "We take great pride in our history of supporting organizations and programs that strengthen the communities we serve," said Cree Zischke, Vice President and Community Relations Officer of JPMorgan Chase's Global Philanthropy department. "We commend the important work of Impact Capital and are pleased to partner with them in building healthy vibrant neighborhoods." 

In addition to the grant, JPMorgan Chase is a long-term investor in Impact Capital's loan pool. These funds help provide bridge loans for community development capital projects, including affordable housing and arts and cultural centers. 

Impact Capital provides strategic financial support to nonprofit organizations, housing authorities, and tribal entities in Washington. "At a time when corporate funding is scarce, the JPMorgan Chase Foundation has stepped up to support our community building program," said Impact Capital CEO Heyward Watson. "What people may not realize is that we do more than just finance projects. We also help strengthen nonprofits as they work with residents to turn their dreams for their neighborhood into a reality. This grant will help us do that." 

Impact Capital's mission is to help build and sustain vibrant neighborhoods in underserved communities throughout Washington. 

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