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JPMorgan Chase donates $8M to Syracuse's Institute for Veterans and Military Families

By RICK MORIARTY | syracuse.com | Published: May 3, 2021

SYRACUSE, N.Y. (Tribune News Service) — JPMorgan Chase is donating an additional $8 million to Syracuse University’s Institute for Veterans and Military Families to support the institute’s national training and research programs over the next three years.

The donation, which was announced Monday, brings to $34 million the total that the bank has given to the institute since its founding 10 years ago. JP Morgan Chase co-founded the institute in 2011 with a $7.5 million grant.

The institute develops education and employment programs for service members leaving the military, as well as for their spouses. Since 2011, more than 150,000 transitioning service members, veterans and military families have been directly impacted by IVMF training and programs, according to the university. This includes 70,000 who have received training on how to start and run their own businesses.

“The values that veterans bring to the table—character, leadership, teamwork, fortitude—align with the principles needed for success in business, and our collaboration with Syracuse University’s IVMF provides tools and resources that veterans need to live up to this potential and drive innovation across industries,” said Mark Elliott, global head of military and veterans affairs at JPMorgan Chase and co-chair of the IVMF Advisory Board.

SU said the latest grant will enable the institute to continue delivering national programs to transitioning service members, veterans and military spouses who may be facing disproportional economic impacts related to the coronavirus pandemic.

Nearly a third of veteran spouses responding to a 2020 survey by the institute reported experiencing long-term unemployment, which was three times higher than the civilian long-term unemployment rate.

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