Ten years after its original foundational grant to enhance the post-service lives of veterans and military families through Syracuse University’s Institute for Veterans and Military Families (IVMF), JPMorgan Chase today announced an additional $8 million grant to support the Institute’s national training and research programs over the next three years.
The announcement comes during National Small Business Month, highlighting the shared commitment of JPMorgan Chase and IVMF to empower transitioning service members, veterans and military spouses, including those who aspire to found and grow 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,” says Mark Elliott, Global Head of Military and Veterans Affairs at JPMorgan Chase and Co-Chair of the IVMF Advisory Board. “IVMF’s mission to improve the lives of veterans and their families aligns with our own.”
The timing of the renewal comes as both the IVMF and the JPMorgan Chase Office of Military and Veteran Affairs mark ten years of empowering the post-service lives of military families. Since 2011, over 150,000 transitioning service members, veterans and military families have been directly impacted by IVMF training and programs. This includes 70,000+ alone who have benefited from entrepreneurship training.
“JPMorgan Chase understood immediately the IVMF was positioned to meet the unique challenges facing veterans and their families,” says Mike Haynie, Vice Chancellor of Strategic Initiatives & Innovation at Syracuse University and Executive Director of IVMF. “Over the past decade they have contributed 34 million dollars to IVMF programs and research that have empowered, advocated for, and improved the quality of life for hundreds of thousands of veterans and their families nationwide.”
This latest grant will enable the IVMF to continue delivering national programs to transitioning service members, veterans and military spouses who may be facing disproportional impacts related to the pandemic. Nearly a third (31%) of veteran spouses responding to 2020 IVMF survey reported experiencing long-term unemployment, which was three times higher than the civilian long-term unemployment rate. Research conducted in collaboration with IVMF has shown meaningful employment can ease the transition, ultimately helping mitigate negative outcomes for veterans and their families.
IVMF programming is tailored to address the unique needs of the military community, offering no-cost career and entrepreneurship training, working with communities and non-profits to enhance service delivery to veterans and their families through collaboration and technology, and conducting actionable, applied research to deliver insights and shape national policy discussions. This has improved and expanded opportunities for more inclusive workplaces and networking for underrepresented communities of people of color and women.
During National Small Business Month, JPMorgan Chase and IVMF are highlighting successful stories in entrepreneurship including those recently named to Inc.’s iconic Inc 5000 list in the Vet 100 category.
About JPMorgan Chase & Co.
JPMorgan Chase, a leading global financial services firm with assets of $3.7 trillion and operations worldwide, has supported veterans since before World War I. Since establishing the Office of Military and Veterans Affairs in 2011, the firm has hired more than 16,000 veterans; facilitated more than 680,000 veteran hires through the Veteran Jobs Mission coalition; awarded more than 1,050 mortgage-free homes to military families in need; and helped over 50,000 participants enroll in Onward to Opportunity, a free career training program of the Institute for Veterans and Military Families, which was co-founded and is supported by JPMorgan Chase and Syracuse University. Learn more at: www.jpmorganchase.com/veterans.
About Syracuse University’s Institute for Veterans and Military Families
The Institute for Veterans and Military Families (IVMF) is the first national institute in higher education singularly focused on advancing the lives of the nation’s military, veterans and their families after service. Through its professional staff and experts, and with the support of JPMorgan Chase & Co., the IVMF delivers leading programs in career and entrepreneurship education and training, while also conducting actionable research, policy analysis, and program evaluations. The IVMF also supports veterans and their families, once they transition back into civilian life, as they navigate the maze of social services in their communities, enhancing access to this care working side-by-side with local providers across the country. The Institute is committed to advancing the post-service lives of those who have served in America’s armed forces and their families.