JPMorgan Chase Foundation Donates $605,000 to Education Projects Through DonorsChoose.org

NEW YORK, NY--(Marketwire - March 30, 2009) - The JPMorgan Chase Foundation today announced a grant of $605,000 to provide critical early literacy, math and science resources for public school students across the country on DonorsChoose.org. The funds will support 1,500 public school classrooms and 39,000 students, most of whom attend schools in low-income communities, through DonorsChoose.org -- a nonprofit website connecting donors with specific classroom needs in public schools.

"The JPMorgan Chase Foundation is proud to sponsor this grant, which was initiated by a bank program that donated a portion of debit-card purchases to benefit schools," said Mark Rigdon, VP, Director of Global Philanthropic Strategy and Programs at JPMorgan Chase Foundation. "DonorsChoose.org is one more innovative way we are tackling educational challenges in the community. It helps provide the literacy, math and science resources that students nationwide need to be successful in school and life."

The $605,000 grant represents funds that had been designated for public schools through a debit-card program of Washington Mutual Bank, which JPMorgan Chase acquired in September 2008.

DonorsChoose.org's focus on providing low-income students with the resources they need to succeed makes the organization a natural partner for JPMorgan Chase Foundation.

"DonorsChoose.org is thrilled that the JPMorgan Chase Foundation has demonstrated an extraordinary commitment to improving our public schools," said Charles Best, Founder and CEO of DonorsChoose.org. "The JPMorgan Chase Foundation family is undoubtedly an invaluable ally in our campaign to expand educational opportunity. With this generous gift, DonorsChoose.org will bring to life hundreds of early literacy, math and science classroom projects."

About the JPMorgan Chase Foundation

The mission of the JPMorgan Chase Foundation -- the philanthropic arm of JPMorgan Chase & Co. -- is to "Build vibrant, sustainable communities in our markets across the globe that support, engage, and enrich the lives of children, youth, and families." The mission comes to life through investments in programs that focus on Community Development, Education and Arts & Culture. Through its education investments, the Foundation seeks to ensure that all children, particularly those from disadvantaged backgrounds, have access to high quality educational opportunities.

About DonorsChoose.org

Founded in 2000, DonorsChoose.org is a nonprofit website where public school teachers describe specific educational projects for their students, and donors can choose the projects they want to support. After completing a project, the donor hears back from the classroom they supported in the form of photographs and student thank-you letters.

To date, 88,000 public and charter school teachers have used the site to secure funding for $30.3 million in books, art supplies, technology, and other resources that their students need to learn. Through www.DonorsChoose.org, individuals from all walks of life have helped 1.8 million students from low-income families.

Contact Information: Media Contacts: Jeremy Robinson-Leon (ph) 212.784.5702 Carolina Martin (ph) 415.730.8094 Mark Rigdon (ph) 212.270.9114