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(March 31, 2020 by Delaware Public Media) New Castle County Council passed a multi-million-dollar COVID-19 response package — at the request of the County Executive. County Executive Matt Meyer proposed a $303 million operating budget with no tax increase for next fiscal year to New Castle County Council by teleconference Tuesday.
He also proposed a package of emergency ordinances putting $2 million toward responding to the coronavirus, which Council passed unanimously.
It puts $1 million toward purchasing personal protective equipment, test kits and other medical supplies, which the County Executive could distribute to County first responders, employees and residents directly or alongside hospitals or public health organizations.
It also directs $500,000 to the Delaware Community Foundation, which is coordinating an effort to alleviate the impacts of the coronavirus in Delaware alongside Philanthropy Delaware, United Way of Delaware, and the Delaware Alliance for Nonprofit Advancement, and another $500,000 to the Delaware State Housing Authority’s Emergency COVID-19 Rental Assistance program.
The county is also suspending its lodging tax, sign permit fees, and residential sewer penalties.
Meyer says the County can afford these steps because “tough decisions” made over the past few years bolstered the County’s tax stabilization reserve.
“We worked hard to enhance that reserve, doubling it to nearly $40 million in the past 18 months alone, so that it would be available in times of crisis,” he said. “Now it is time to use it.”
Councilman John Cartier pointed to the needs of the County’s first responders.
“[They’re] on the front lines, very stressed right now, especially with our ambulance, and have a dire need for PPE [personal protective equipment],” he said. “So I’m glad we’re going to be sourcing that to them, standing behind them in this crisis.”
Cartier, co-chair of the finance committee, also says the County has the “financial strength” to be proactive in the face of the crisis.
The funding to purchase medical supplies and contribute to the nonprofit collaborative response will come from the tax stabilization reserve. The funding for the rental assistance program will come from the County’s roughly $2 million Housing Trust Fund, Cartier said.
The Housing Trust Fund was created to address the housing needs of very low-income, low-income and moderate-income families, according to County Council, and receives contributions from developers who participate in the County’s workforce housing incentive program.
Councilman Penrose Hollins brought attention to this before voting to support the ordinance.
“I think when we talk about vulnerable populations when times are good, we need to give them the same consideration in good times as we do in bad times,” he said. “And I think this is a prime example of that.”
“Not only is the Housing Trust Fund funded by workforce housing, but for those families that are currently in housing that perhaps would not be in housing if it were not for workforce housing ... ,” he added. “I would encourage my colleagues on County Council, when we’re talking about social justice issues whether it be fairness in housing, fairness in contracts, that we can give it the same sensitivity that we’re giving it now when we’re in a crisis situation.”
Meyer admitted that economic uncertainty caused by the coronavirus could change budget projections.
“Many of the assumptions of our $209 million general fund operating budget, $84 million sewer operating budget and $65 million capital budget are rapidly changing,” he said. “We will work with County Council in the coming months as we see how our revenue projections change, and as we first make immediate investments to preserve our community through this crisis.”
New Castle County closed libraries and playgrounds in response to the coronavirus. It recently set up free WiFi hotspots for residents, and contributed to temporary hand-washing and bathroom stations for people experiencing homelessness in the City of Wilmington.
In an op-ed, Meyer recently criticized “ ineffective testing guidelines that test only those experiencing the most serious symptoms,” and instead advocated for testing all Delawareans, regardless of symptoms. He argued widespread testing would help identify asymptomatic cases, aid in social distancing to control the spread of the virus, and allow the economy to restart faster.
The U.S. Centers for Disease Control and Prevention (CDC) offers guidance on who should be tested, but those testing decisions are ultimately at the discretion of state and local health departments.
Delaware’s statewide testing system, launched last week by the Department of Health and Social Services in partnership with area hospitals and health systems, requires a patient to present with a fever as well as a cough or shortness of breath to be tested.
Click here for article from Delaware Public Media.
(March 27, 2020 by Press Release) Delaware nonprofits affected by COVID-19 are invited to apply for grants from the Delaware COVID-19 Strategic Response Fund, housed at the Delaware Community Foundation and directed by a council of Delaware’s philanthropic leaders.
The application is now open at delcf.org/covid-grants. The deadline for the first round of awards is Monday, March 30, at noon. Only a few grants will be awarded in the first week. Nonprofits are encouraged to reapply weekly.
The maximum grant request is $50,000. In the first week, a total of $250,000 will be awarded. The total amount to be awarded is expected to increase in subsequent weeks, depending on funding available.
Grants from the Strategic Response Fund will initially focus on urgent needs related to COVID-19, then expand over time to more structural and long-term needs in three funding areas:
Applications will be accepted weekly on a rolling basis and grants will be awarded weekly for as long as funding is available and community needs exist related to COVID-19.Each week, applications received by noon on Monday will be reviewed, grantees will be selected Friday morning, and funds will be transferred Friday afternoon.
About the Fund
The Delaware COVID-19 Strategic Response Fund targets emerging and evolving needs of the state’s most-impacted communities, for the longer term needs of our community.
The fund, housed at the DCF, is structured to help Delaware-serving 501(c)3 organizations address a broad range of community needs. Target applicants are nonprofit organizations with deep roots in the community and a strong track record of serving people who are immediately and disproportionately suffering from the crisis.
Since the fund was launched on March 18, foundations, corporations and individuals have contributed and pledged more than $2 million in initial gifts. The fund already includes generous gifts from the Longwood Foundation ($1 million), Welfare Foundation ($200,000), Discover ($75,000), DCF ($75,000), WSFS Bank ($25,000) and others. Grants from the Strategic Response Fund will be coordinated with grants from United Way of Delaware’s Delaware Does More: COVID-19 Rapid Response Fund, which focuses on more immediate needs.
The Delaware COVID-19 Strategic Response Fund is part of the Delaware COVID-19 Emergency Response Initiative, a nonprofit collaborative response to the 2020 coronavirus pandemic. The DCF, Delaware Alliance for Nonprofit Advancement, Philanthropy Delaware and United Way of Delaware are partnering to coordinate charitable resources to maximize impact statewide during this crisis.
To learn more or contribute, visit delcf.org/covid19-fund.
About the Delaware Community Foundation
The mission of the Delaware Community Foundation is to improve the lives of the people of Delaware by empowering and growing philanthropy through knowledge and relationships, now and in the future. As a facilitator, information resource and manager of charitable funds, the DCF helps communities and philanthropists focus charitable resources for the greatest community benefit statewide. For more information, visit delcf.org or call 302.571.8004.
(March 19, 2020 by Press Release Global Newswire) WSFS Bank is a Philanthropy Delaware Member. WSFS Bank today announced a $300,000 pledge from the WSFS Community Foundation to help local charities’ coronavirus relief efforts.
These funds will help provide necessary services to people in the Greater Delaware Valley during this unprecedented time. The pledge will be allocated in $25,000 grants to the following organizations:
The remaining $100,000 will be distributed in the months to come to support pandemic recovery efforts throughout our neighboring communities.
“Serving our communities includes partnering with local nonprofits who play a critical role in helping those in need. By providing this grant, we are helping to restore and ensure a better life and brighter future for members of our communities impacted by the pandemic,” said Vernita Dorsey, Senior Vice President, Director of Community Strategy, WSFS Bank.
“We are thrilled with the generous response of so many, so quickly, to the community’s need at this point. WSFS has always been a leader in this region, and their early contributions show that leadership again,” said Stuart Comstock-Gay, Delaware Community Foundation and a partner in the Delaware Collaborative, which has four leading nonprofits coordinating initiatives to respond to the COVID-19 pandemic in Delaware. The group is coordinating fundraising, grantmaking and volunteer activities.
“Here at JRA we are in the business of reducing hunger and uplifting spirits, and WSFS has always been an enthusiastic partner,” said Jodi Saks, Executive Director, Jewish Relief Agency. “At a time when the need for JRA’s services is as great as we’ve ever seen it, WSFS has come forth with additional emergency funding to allow us to assist the most vulnerable individuals in our community. This funding will enable us to continue to make our deliveries while adhering to the strict safety standards we’ve adopted through the counsel of public health professionals and CDC recommendations. It simply couldn’t happen without the support of WSFS.”
“In this pandemic we have seen an increase in phone calls and food needs. We want to once again thank WSFS for their generosity and being part of our community; they are a true partner,” said Domenic Zulla, Executive Director, Burlington Food Pantry.
For more information about WSFS’ preparedness plans, please visit wsfsbank.com.
About the WSFS Community Foundation
The WSFS Community Foundation focuses on supporting quality public education grades K-12, health and human service programs for the homeless and needy, economic and business growth, and art education. Grants are awarded for initiatives that are innovative, creative, sustainable and replicable.
About WSFS Financial Corporation
WSFS Financial Corporation is a multi-billion-dollar financial services company. Its primary subsidiary, WSFS Bank, is the oldest and largest locally managed bank and trust company headquartered in Delaware and the Delaware Valley. As of December 31, 2019, WSFS Financial Corporation had $12.3 billion in assets on its balance sheet and $20.7 billion in assets under management and administration. WSFS operates 118 offices, 93 of which are banking offices, located in Pennsylvania (55), Delaware (45), New Jersey (16), Virginia (1) and Nevada (1) and provides comprehensive financial services including commercial banking, retail banking, cash management and trust and wealth management. Other subsidiaries or divisions include Arrow Land Transfer, Cash Connect®, Cypress Capital Management, LLC, Christiana Trust of Delaware, NewLane Finance, Powdermill Financial Solutions, West Capital Management, WSFS Institutional Services, WSFS Mortgage, and WSFS Wealth Investments. Serving the greater Delaware Valley since 1832, WSFS Bank is one of the ten oldest banks in the United States continuously operating under the same name. For more information, please visit www.wsfsbank.com.
(March 23, 2020 by Press Release) Wells Fargo is a Philanthropy Delaware Member. Wells Fargo & Company (NYSE: WFC) today announced additional comprehensive steps to help customers, communities and employees grappling with the impact of COVID-19. The company has suspended residential property foreclosure sales, evictions and involuntary auto repossessions. Additionally, the Wells Fargo Foundation will increase its charitable donations to $175 million to help address food, shelter, small business and housing stability, as well as to provide help to public health organizations.
“The coronavirus is disrupting the daily lives of many people around the world, and Wells Fargo has taken — and will continue to take — the steps needed to support our customers, employees and communities during this difficult time,” said CEO Charlie Scharf. “We will continue to evaluate this fluid situation and take additional action as necessary.”
Wells Fargo is taking several other steps to meet the needs of customers, operate safely and effectively and reduce the risk to employees and customers, recognizing that the company provides critical and essential services to the stability of the economy and the financial wellbeing of customers.
Meeting customer needs
Wells Fargo is working on a daily basis to put measures in place to support the needs of customers impacted by COVID-19 in the most effective ways possible. Wells Fargo is suspending residential property foreclosure sales, evictions and involuntary automobile repossessions. The company also is offering fee waivers, payment deferrals and other expanded assistance for credit card, auto, mortgage, small business and personal lending customers who contact the company.
Additionally, Wells Fargo continues to take the action needed to ensure it can best serve customers, while also prioritizing employee and customer safety. The company is temporarily closing some branches, adjusting operating hours of branches, relocating employees to busier branches and utilizing drive up instead of lobbies where possible. Customers can check Wells Fargo’s branch locator for ATM locations and the status of branches and can use mobile and online banking tools almost anywhere 24 hours a day, seven days a week.
Across the company, including in branches, contact centers and corporate locations, the company is taking significant actions to ensure safety, including enhancing social distancing measures, staggering staff and shifts, enabling work from home for as many employees as possible and implementing an enhanced cleaning program.
Accelerated national and local giving
Donations from the Wells Fargo Foundation will be allocated via expedited grant-making at the local level and also via relief efforts in partnership with national organizations that work in a number of key areas across the U.S. Resources will be focused on helping nonprofits serve the immediate needs of the most vulnerable populations including for food, housing and other emergency needs. This includes a $1 million grant to Feeding America to support their 200 member foodbanks as they work to feed people during this time of crisis.
Charitable donations will also be focused on three key areas through collaboration with a number of national and local organizations - housing, small business and financial health:
Housing stability: Funding will be allocated to critical housing needs such as helping renters and homeowners stay in their homes through foreclosure prevention assistance, eviction assistance and financial counseling and coaching.
Small business: Resources will be deployed to meet the urgent needs of small businesses, $2 million of which will focus on the deployment of flexible capital in collaboration with Opportunity Fund and will also provide immediate cash boosts and financial coaching support of entrepreneurs and their low-wage workers in coordination with SaverLife.
Financial health: Donations will support efforts to ensure ongoing financial health for families and individuals including for financial counseling and coaching and through grants to help struggling hourly, part-time, lower-income and gig economy workers navigate broad financial stability challenges due to loss of income.
The Wells Fargo Foundation will also support the creation of the Coronavirus Pandemic Financial Resilience Resource Center to help the 100 million people with disabilities and chronic health conditions nationwide with alternative and accessible information and financial counseling, 24 hours a day, seven days a week.
Supporting employees experiencing hardship
In an effort to assist employees who may experience their own hardships, the Wells Fargo Foundation will donate $10 million to its WE Care Fund, which provides resources to colleagues who face a catastrophic disaster or financial hardship resulting from an event beyond their control. This program is available to those affected by coronavirus and is intended to help employees, especially those with limited resources, get back on their feet with basic necessities.
Wells Fargo has made several significant enhancements to its U.S. benefits and time away programs to provide additional support to all U.S. employees during this public health emergency, including benefit enhancements specifically for employees directly affected by coronavirus through illness or school closures.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $1.9 trillion in assets. Wells Fargo’s vision is to satisfy our customers’ financial needs and help them succeed financially. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, investment and mortgage products and services, as well as consumer and commercial finance, through 7,400 locations, more than 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 32 countries and territories to support customers who conduct business in the global economy. With approximately 260,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 29 on Fortune’s 2019 rankings of America’s largest corporations. News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories.
Contact: Beth Richek
(March 23, 2020 by Delmarva Power Press Release) Delmarva Power is a Philanthropy Delaware Member. Delmarva Power is taking several major steps to help ensure all residents across its Delaware and Maryland service area have access to electric service during this critical time. As the COVID-19 pandemic worsens, officials across the country are enacting shelter in place or similar orders to ensure public safety. With more people, including school children, at home during the day, Delmarva Power will be working with residents who have had their service disconnected on a case-by-case basis to reconnect service and help ensure access to safe and healthy environments.
"We recognize the important service we provide and that more people are relying on electricity during this critical time," said Dave Velazquez, president and CEO of Pepco Holdings, which includes Delmarva Power. "We need to come together in support of one another during this time, and ensuring every resident has access to safe and reliable electric service is just one of the many ways we are doing just that."
While the company has already suspended all disconnections through at least May 1, residents who have had their electric service previously disconnected should contact the company at 800-375-7117 to begin the reconnection process. As part of this process, Delmarva Power Customer Care agents will work with residents to help identify assistance programs that can supplement bill payment and can help ensure service remains on after this pandemic.
Delmarva Power is committed to the safety of its customers, employees and contractors. Communities can be assured that Delmarva Power crews will not restore service in unsafe situations. The company will work with agencies, where possible, to identify support to help correct these safety issues before service can be reconnected.
Delmarva Power works closely with its community partners to connect customers with grants and programs like LIHEAP, the Low-Income Home Energy Assistance Program. LIHEAP provides grants in varying amounts based on a household's income size, and type of fuel, with no pay back required. Delaware residents can apply for assistance online through the Delaware Health and Social Services website. Maryland customers can apply for LIHEAP energy assistance through the Department of Human Services website, by visiting a Local Energy Assistance Office, or by calling the Maryland Department of Human Services Office of Home Energy Programs at 800-332-6347.
Other programs supporting Delaware and Maryland customers include:
Other programs supporting Maryland customers include:
To learn more about Delmarva Power, visit The Source, Delmarva Power's online news room. Find additional information by visiting delmarva.com, on Facebook at facebook.com/delmarvapower and on Twitter at twitter.com/delmarvaconnect. Delmarva Power's mobile app is available at delmarva.com/mobileapp.
Click here to read original post - Delmarva Power Press Release.
(March 20, 2020 by Delaware Online Guest Columnist, Stu Comstock-Gay ) We’re all a little frightened, staying in our homes, worrying about retail and restaurant workers who aren’t being paid, and worrying even more about those who’ve contracted COVID-19. But there’s something deeply human happening in our communities.
Everywhere we turn, people are looking for ways to help others, and for ways to connect. Deep in all of us — even in this highly individualistic society — is the desire to be a community.
Stuart Comstock-Gay is president and CEO of the Delaware Community Foundation. (Photo: Courtesy of the Delaware Community Foundation)
This current state of social distancing makes us all feel a little less human. It’s a hard thing to do — changing our lives for a greater good. But people are making that sacrifice. That willingness to sacrifice is, in and of itself, an act of generosity to others.
And people are seeking more direct ways to be generous, too.
Neighbors are offering free babysitting for those who must work, helping with grocery shopping and errands for those in high-risk groups, checking in on neighbors who live alone.
On Facebook, NextDoor and other social media platforms, people are launching mini campaigns to support suffering small businesses, advocating for takeout from local restaurants, and donating to artists whose gigs have been canceled.
Musicians are streaming live performances. Fitness experts are streaming free classes.
Restaurants are giving free meals to children. Many continue to pay employees when it’s impossible to work. Xfinity even made wifi hotspots free.
Others are contributing to organizations helping do good work — to the Food Bank, or the YMCA, or many others.
This pandemic has also prompted us in the nonprofit community to recommit to working together. Through a new collaboration of the Delaware Community Foundation, the Delaware Alliance for Nonprofit Advancement, Philanthropy Delaware and the United Way of Delaware, two new charitable funds have been established to pool resources from foundations, corporations, and individuals coordinate how they are allocated to responding nonprofits.
For those who want to provide time, volunteer opportunities are available through the 211 website, and through some nonprofits.
For our own individual well being, and for the well being of our community, we all need to dive in, to connect, care and contribute.
And while we are at it, there’s another opportunity.
In the coming months, as the COVID-19 scare dies down, we need to hold on to those instincts to help and connect. Many people will still be struggling with lost jobs and financial stress.
And there are already far too many people who struggling every day, and every week and every month … those who have fewer opportunities for a good education, or a good job, or a healthy life.
Can we commit now to maintain this overflowing of good will in the future?
And, finally, when we get ready to vote next fall, let’s remember who we are as a community today — these caring and connecting human beings. Let’s reject the divisiveness of recent years and seek political solutions to build a stronger future for all.
Delawareans are stepping up — by staying inside and by reaching out in creative ways — to end the spread of this disease and ensure that our communities can thrive again.
If we do it right — if we lean into our shared humanity and hold onto that connectedness — we will all come out on the other side as a stronger society.
Stuart Comstock-Gay is president and CEO of the Delaware Community Foundation. Learn more about the Delaware COVID-19 Emergency Response Initiative at delcf.org/coronavirus.
Original post on Delaware Online.
(March 22, 2020 by Press Release) Sen. Coons backs expanded charitable giving deduction in coronavirus aid bill
Today, U.S. Senator Chris Coons (D-Del.) called for the inclusion of an amendment in the Coronavirus Aid, Relief, and Economic Security Act to increase the bill’s $300 limit on a new, expanded charitable giving deduction for the remainder of 2020. The amendment would allow individuals to deduct up to $4,000 in charitable contributions and couples up to $8,000.
“In the face of the COVID-19 pandemic, charities and nonprofits are facing extraordinary challenges. These organizations are being relied on to address needs in our communities like hunger, illness, and child care, with dwindling resources and a payroll to maintain,” said Senator Coons. “A federal response I am proud to support is ensuring that every American taxpayer is encouraged to support our nation’s charities, by giving them access to the charitable deduction. This simple, straightforward change to the tax code would mobilize the goodwill of all Americans as we collectively strive to overcome this pandemic.”
The amendment was also cosponsored by U.S. Senators James Lankford (R-Okla.), Amy Klobuchar (D-Minn.), Tim Scott (R-S.C.), Jeanne Shaheen (D-N.H.), and Mike Lee (R-Utah).
Click here for more information.
(March 20, 2020 by Town Square Delaware) Longwood Foundation is a Philanthropy Delaware Member. The Longwood Foundation has donated $1 million to the Delaware COVID-19 Strategic Response Fund at the Delaware Community Foundation (DCF). The fund was launched earlier this week as part of the COVID-19 Emergency Response Initiative led by four major nonprofits to coordinate fundraising, grant making and volunteer activities related to the coronavirus crisis. The Delaware Alliance for Nonprofit Advancement (DANA), Delaware Community Foundation (DCF), Philanthropy Delaware (PD) and United Way of Delaware (UWDE) are partnering to coordinate charitable resources to maximize impact statewide during this crisis.
Longwood President Thère du Pont said he anticipates making additional contributions to the fund as the community’s needs progress.
The DCF says a process for nonprofits wishing to apply for grants will be announced soon.
Businesses, organizations and individuals are invited to donate to this collective response. Donations can be made to:
Delaware Does More: COVID-19 Rapid Response Fund at United Way at UWDE.org/COVID19
Delaware COVID-19 Strategic Response Fund at the DCF at delcf.org/coronavirus
The DCF says the partnership is seeking to align Delaware’s nonprofit community in a coordinated effort to alleviate the impact of the crisis in Delaware. This includes supplementing and supporting efforts of government, school systems and social service agencies, by generating funds and other supports, and by recruiting volunteers to address both the immediate and long-term consequences of the COVID-19 crisis.
Funds in support of the initiative will be particularly important in supporting nonprofits already on the front lines of helping society’s neediest, at a time when their own resources are under extreme duress. The DCF said catalyzing and coordinating volunteer efforts will also be critical in the days ahead.
Click here for more information.
(March 18, 2020 by Press Release) JP Morgan Chase is a Philanthropy Delaware Member - JPMorgan Chase today announced a $50 million global philanthropic commitment to address the immediate public health and long-term economic challenges from the COVID-19 global pandemic.
Funds will support communities and people hit hardest by this public health crisis through an initial $15 million commitment, including:
$5 million to provide immediate healthcare, food and other humanitarian relief globally;
$2 million to existing nonprofit partners around the world that are responding to the COVID-19 crisis in their communities;
$8 million to assist small businesses vulnerable to significant economic hardships in the U.S., China and Europe.
The remaining $35 million will be deployed over time to help the most vulnerable communities and people recover from the crisis and have an opportunity to benefit from future economic growth. The firm will lean into its core areas of expertise including financial health, jobs and skills, small business growth and neighborhood development and apply lessons learned from initiatives like AdvancingCities.
“We are mobilizing the firm’s resources to support customers, employees and communities—especially the most vulnerable—in this time of crisis,” said Peter Scher, Head of Corporate Responsibility and Chairman of the Mid-Atlantic region. “We are making immediate investments to help those most affected by humanitarian challenges and looking into sustainable and innovative solutions to help small businesses and underserved communities recover when the crisis subsides.”
Providing humanitarian community relief
To address the immediate humanitarian and healthcare crisis, the firm is providing $5 million to the following organizations focused on providing emergency medical supplies, food, and other critical health-related essentials:
$2 million to the COVID-19 Solidarity Response Fund supporting the World Health Organization, to provide essential supplies such as protective equipment to frontline healthcare workers, enabling countries to track and detect the disease by boosting laboratory capacity, and accelerating efforts to fast-track the discovery and development of lifesaving vaccines;
$1 million to Feeding America’s COVID-19 Response Fund to help U.S. communities in need of critical food security through a network of 200+ food banks;
$1 million to the GlobalGiving Foundation’s COVID-19 European Response Fund to assist vulnerable populations across Europe, focusing on communities where we do business;
$1 million to the China Foundation for Poverty Alleviation to provide immediate and mid-to-long-term healthcare and small business support, including the distribution of medical supplies in impacted communities across China.
The firm is also matching employee donations to these COVID-19 relief efforts dollar-for-dollar. Employees have an opportunity to contribute to the COVID-19 Solidarity Response Fund supporting the World Health Organization, Feeding America’s COVID-19 Response Fund, GlobalGiving Foundation’s COVID-19 European Response Fund, or the China Foundation for Poverty Alleviation.
Supporting small businesses and nonprofit partners
JPMorgan Chase Institute research shows that 50 percent of small businesses have less than 15 cash buffer days, meaning the small business economy could be majorly disrupted by the current climate. The firm will promptly deploy $8 million, including $5 million in the U.S. and $3 million in international markets to support vulnerable and underserved small businesses in the following ways:
Helping Black, Hispanic and Asian Pacific Islander owned businesses that may struggle to access capital and keep their doors open. This includes entrepreneurs that have participated in the firm’s Entrepreneurs of Color Fund and Ascend in places such as Seattle, California and New York. Support will include working with local Community Development Financial Institutions that will provide low or zero interest loans and interest rate buydowns to help offset the costs of business slow-downs and unexpected challenges, as well as technical assistance support for issues like remote working capabilities;
Supporting vulnerable, underserved and underrepresented entrepreneurs and small businesses across Europe and China to navigate and access available and emerging financial and non-financial support.
The firm will also provide $2 million to existing nonprofit partners who are facing new challenges supporting vulnerable populations in response to COVID-19. The funds will go towards helping these partners maintain operational capacity as they adjust their programming and provide resources to support their remote working capabilities, resiliency planning, fundraising and communications.
Working closely with government, business and community partners, JPMorgan Chase will commit $35 million towards medium-to-long term challenges communities are likely to face as the COVID-19 crisis continues to unfold. The firm will lean into its core areas of expertise to support the most vulnerable individuals, small businesses and communities as they face financial hardship and uncertain work opportunities, the shifting business landscape and increased pressure to access or maintain affordable housing. Existing nonprofit partners may need additional flexibility and support to meet the evolving needs of their clients, and the firm will continue working with them over the long-term to advance an inclusive economy.
About JPMorgan Chase & Co.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.7 trillion and operations worldwide. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. 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. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.
(March 18, 2020 by Press Release) Philanthropy Delaware is a proud partner with Members - the Delaware Community Foundation, Delaware Alliance for Nonprofit Advancement, and the United Way of Delaware. The coronavirus pandemic is an unprecedented challenge. In Delaware, every sector of society is doing its part to help slow the spread of the coronavirus, which causes the illness known as COVID-19. These necessary actions are driving massive changes in daily life, which are especially hard on children in low-income households, the working poor and seniors, most of whom lack essential resources, on a good day.
At the same time, as Delaware nonprofits race to address the immediate local consequences of the pandemic, they are tapping funds earmarked for other needs, compromising the network’s capacity to address the long-term consequences of the pandemic.
The goal of this partnership is to align Delaware’s nonprofit community in a coordinated effort to alleviate the impact of the crisis in Delaware. We seek to do this by supplementing and supporting efforts of government, school systems and social service agencies, by generating funds and other supports, and by recruiting volunteers to address both the immediate and long-term consequences of the COVID-19 crisis.
THE RESPONSE (Our “How”)
A group of Delaware’s philanthropic and nonprofit leaders have launched a coordinated response, comprising four elements:
Delaware Does More: COVID-19 Rapid Response Fund United Way of Delaware (UWDE) has launched the Delaware Does More: COVID-19 Rapid Response Fund, an initiative to raise and manage funds that will address immediate needs resulting from the crisis. The fund will focus on alleviating the near-term impact of COVID-19 by working to supplement and support efforts related to children in low-income households, the working poor and seniors. UWDE will work with Philanthropy Delaware (PD) and will house and manage this fund.
Through the Delaware Does More: COVID-19 Rapid Response Fund, UWDE will coordinate COVID-19-related volunteer activities throughout the state, using its 211 platform.
Delaware COVID-19 Strategic Response FundThe COVID-19 Strategic Response Fund will target evolving needs of the state’s most-impacted communities, for the longer term needs of our community. The Delaware Community Foundation (DCF) will house and manage this fund. The DCF and PD will work with philanthropists to assemble funds for a collective response. This response will be coordinated with the activities of Delaware Does More.
Assessing & Strengthening Nonprofits to Respond
The Delaware Alliance for Nonprofit Advancement (DANA) is assessing what nonprofit organizations require to be able to respond successfully to community needs as the long-term impact of the pandemic evolves. Armed with the information from DANA’s assessment, the DCF, PD and UWDE will work together to allocate the charitable dollars to have the greatest impact throughout the state.
Throughout this difficult time, United Way of Delaware, the Delaware Community Foundation, Philanthropy Delaware and the Delaware Alliance for Nonprofit Advancement will coordinate with each other, and with other nonprofits, businesses, government agencies and individuals to ensure a comprehensive response throughout the state.
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Copyright Philanthropy Delaware, Inc. 2017Philanthropy Delaware, Inc. is a 501(c)3 nonprofit organization
Office: (302) email@example.com
Address:100 W. 10th Street, Suite 500Wilmington, DE 19801