Multi-layered partnership will help identify the interventions that increase financial capabilities
LIFT, a national organization working to lift people out of poverty for good in the United States announced JPMorgan Chase’s commitment to a one year investment totaling $200,000 toward LIFT’s work to promote the financial capability for individuals living below the poverty line. The investment will build LIFT’s program capacity by integrating financial coaching into its suite of services and enhancing its evaluation framework to measure, test, and identify the interventions that increase financial stability.
“JPMorgan Chase has been a critical LIFT partner since 2008. Their commitment to our work and early investment in our innovative evaluation tool underscores their commitment to funding what works for individuals and families for the long term,” said Kirsten Lodal, LIFT’s CEO and Founder. “The complexities of poverty and the diverse situations that lead to generational poverty are often misunderstood. Working together, we hope to address one facet of this challenge – building the strong financial foundations that our members need to reach and remain on solid ground.”
This dual-layered capacity building partnership comes as an expansion of JPMorgan Chase’s support of LIFT’s efforts to provide customized wrap-around support services to families in need and aims to further address our members need for the knowledge, skills, and tools to achieve financial security. LIFT will utilize expert coaches to provide monthly financial consultations for members and equip its advocates with the training they need to support members on budgeting, money management, and asset building. This work will begin in Washington D.C. and then expand to other cities. Additionally, LIFT will expand its innovative member feedback evaluation system, Constituent Voice, to its regional operations across the country. Constituent Voice enables the organization to measure the interventions that build an individual’s personal, social, and financial foundations via a stream of member feedback data through technology-based surveys. Through the analysis of this feedback data, LIFT is able to make critical program changes to best serve its members and learn what interventions drive financial capability. With JPMorgan Chase Foundation’s support, LIFT will be able to produce results that not only improve its program, but also provide insights and increase knowledge in the financial capability field about the supports people need to succeed.
“JPMorgan Chase is committed to helping people better understand and manage their finances to secure their futures,” said Janis Bowdler, Senior Program Director, Financial Capability and Community Development at JPMorgan Chase. “Our partnership with LIFT is an example of how we are working with strong community partners to provide financial tools and resources designed around consumer needs and to continuously evaluate and improve their impact.”
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About JPMorgan Chase & Co.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.5 trillion and operations worldwide. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, asset management and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. The Firm and its Foundation give approximately $200 million annually to nonprofit organizations around the world and lead volunteer service activities for employees in local communities, utilizing its many resources, including access to capital, strength, global reach and expertise. More information is available at www.jpmorganchase.com.
About LIFT
LIFT works to lift families out of poverty for good. In Boston, Chicago, DC, New York, Los Angeles and Philadelphia, LIFT pairs rigorously trained Advocates with committed families to build the strong personal, social and financial foundations they need to get ahead. By setting their own goals and working hard to achieve them, families are equipped to get a job, a safe home and a quality education for themselves and their children. They also build a support network, confidence in what they bring to the table and the skills to manage tough times in the future. More than 100,000 Members have already committed to do the hard work needed to achieve their goals–and it is working. LIFT is putting an average of $1,300 back into the pockets of struggling families so that they can make ends meet. Learn more at www.liftcommunities.org
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