Topic: JPMorgan Chase

American multinational banking and financial services holding company

  • How Philanthropy is Helping Veterans Navigate the Workforce

    As Lekendric Doyle faced the end of his naval career, he wasn’t sure where to go next. But when he connected with the D’Aniello Institute for Veterans and Military Families, everything clicked into place. The organization, based out of Syracuse University, has several programs for veterans looking to jump in, or back in, to the workforce. For Doyle, it was the Onward to Opportunity program that stood out.  

    Doyle had no college degree, but through IVMF, he had the time and opportunity not only to get his project management certification, but also to complete his ​Lean Six Sigma Black Belt and his ​bachelor’s degree. Today, Doyle works for aerospace manufacturer Blue Origin, founded by Amazon’s Jeff Bezos. 

    IVMF, Doyle says, “gave me the opportunity to seize my own time, and without doing that I would not have been successful in my endeavors. 

    “Time was the key piece, and the mentorship from the program, to really help me achieve that,” he adds.  


    Problems Persist During Transition Out of Service 

    For other veterans, the transition is not so easy. Only one in four have a job ready when they transition out of the service, per Pew Research Center. “Finding a job after their military service affects nearly 200,000 veterans every year,” CBS reports. “A U.S. Chamber of Commerce Foundation study from 2016 found that 53% of veterans are unemployed for four months or longer after leaving the military.” 

    Many veterans lack the degrees or certifications necessary to find gainful employment. Some find themselves out of a job, while others flounder at a poorly paying and unfulfilling career.  

    This continuing problem isn’t due to a lack of effort in the nonprofit world. But it may be made worse by some nonprofits that refuse to do more than throw money at the problem.  

    The most infamous example is the Wounded Warrior Project. In 2016, the nonprofit came under fire for spending “lavishly on itself,” per a New York Times exposé. The “country’s largest and fastest-growing veterans charity,” the paper reported, “has spent millions a year on travel, dinners, hotels and conferences that often seemed more lavish than appropriate.” 

    Top executives were subsequently fired, and the organization tried to rebrand. But a massive budget with little oversight is a recipe for disaster, nonprofit leaders say. Luckily, there are many veterans organizations committed to getting a real return on their investment.  


    Putting Veterans on the Path to Success 

    IVMF works with veterans and military spouses to help them succeed in the civilian workforce ​primarily ​through three programs:​ career training, entrepreneurship training and navigation of community services​. Onward to Opportunity, the career training program that helped Doyle, offers 40 different learning pathways, from training in information technology to business management and customer service, free of charge.  

    “It’s an excellent opportunity to help veterans transition, and it provides a supportive environment where you can start to look outward from the military and gain a grasp on what there is out in the world for you as a veteran,” Doyle says.  

    IVMF has built a diverse alumni network as well as an impressive slate of corporate partners, including Walmart, J.P. Morgan​ Chase, Fiserv​ and USAA.  

    Maureen Casey, chief operating officer for IVMF, says despite their unique skill sets, veterans can face a disconnect with ​potential ​employers, who aren’t always sure ​how military skills translate to the private sector.​​     ​ 

    “We need to ensure that there’s some cultural competency​ on both sides [employers and veterans]​,” Casey says. “Some of ​[veterans’]​​ ​challenges are going to be unique. We just have to help them overcome them​,​ and we know they will be very valued community members.” 

    Importantly, she explains, IVMF measures its success not ​only ​on the number of veterans it serves, but on their outcomes.  


    How Philanthropists Can Fund Effective Organizations  

    As philanthropists research organizations that help veterans find meaningful careers in the civilian workforce, Aaron MacLean, senior director at the Paul E. Singer Foundation and a board member at Philanthropy Roundtable, warns them against adopting a dangerous mentality.  

    “It’s easy to see ways in which a disconnect [between employers and veterans] could appear,” he explains. “But it’s important that philanthropists resist buying into a victimhood model or mentality about veterans.” 

    MacLean, who was an active-duty Marine for seven years, says although veterans may need unique assistance, they are not victims.  

    “You see in a lot of places in our society this notion of a veteran as this wounded bird that needs very special care and treatment to be reintegrated into society,” he says. “Generally speaking, that’s just false. I think, if anything, veterans are valuable to any employer.” 

    After all, veterans certainly develop many soft skills that could be beneficial to a potential employer. But they have hard skills, such as logistics, as well. The key is the transition.  

    “But I do think it would be possible to do harm, operating with an attitude where you’re encouraging people who are not victims to think of themselves as victims,” he says.  

    If traps for organizations focusing on veterans in the workforce include wild spending and lack of oversight, plus the danger of embracing a victimhood mentality, who should philanthropists look to as a success story?  

    Dan Goldenberg, executive director for the Call of Duty Endowment, says the nonprofit spent its first ​three​​ ​years as a “typical corporate philanthropy​ effort​.” They wrote big checks with little to show for them, he says, and large​, well-known​ nonprofit partners failed to show impact.  

    ​​In 2013​, the endowment moved to an accountability-based model. “W​e’re deeply skeptical about​​ ​trust-based philanthropy,” Goldenberg says.  

    This doesn’t mean underperforming nonprofits are left out to dry. In fact, the opposite is true.  

    Call of Duty Endowment currently supports 10 nonprofits with a turnover rate of “maybe 10% per year.” It ​assesses​​ ​the groups every quarter, ​reevaluating annually, ​looking for a strong ratio of veterans served to veterans placed​ into high-quality jobs​. ​This gives the nonprofits opportunities to improve. ​ 

    ​​For example, a number of grantees that were off track in their placement numbers turned out to have unsophisticated outreach capabilities, Goldenberg says.​ ​T​he quarterly evaluations helped the endowment ​identify and address this critical gap​. It was able to connect those groups to social media experts, ​fund​​ ​website improvements ​and​​ ​automate client service functions. ​The nonprofits were back on track within a year.​ 

    “​Conversations like this​​ ​are super helpful for coaching these nonprofits, but also for ​channeling targeted resources to improve their performance,” ​Goldenberg​​ ​says.  

    To ensure its money is going to the right place, ​the ​Call of Duty Endowment also doesn’t partner with organizations ​that haven’t passed its formal performance assessment and also presented audited financials.​​     ​ 

    “If you love an organization, you need to invest in systemically evaluating their performance,” he says. 

    Organizations that are held accountable continue to get better, Goldenberg says.  

    “​While we started with impact results similar to U.S. government programs, today o​ur grantees​ ​place veterans into jobs for 1/13 the cost of the federal government’s efforts. Last year, every $618 placed a veteran in a job.​ This has enabled us to fund the placement of 125,000 veterans—that’s a group two-thirds the size of the U.S. Marine Corps.”​​     ​ 


    An Urgent Need to “Step Up” for Veterans 

    While the government pours billions of dollars into the Department of Veterans Affairs, many veterans find it is too slow to meet their needs, or they are ineligible for VA support.  

    “Federal agencies do what they can, but it really needs to be a public-private partnership to fill in the gaps,” Casey says. ​The VA isn’t always able to provide certain kinds of support to families​, making IVMF’s support of military spouses key for transitioning families.  

    This is not to mention the VA scandal from a decade ago when an internal audit revealed tens of thousands of veterans were waiting 90-plus days to receive health care. Despite the controversy, the VA is still being criticized for its wait times.  

    The infamous failure of the government when it comes to supporting veterans leaves the door open for policy philanthropy, MacLean says. But “the lower hanging fruit, and what philanthropists who are interested in this subject should challenge themselves to do, is to be what philanthropy can be: the flourishing of civil society to take on challenges in ways that civil society can actually do best.” 

    The philanthropic sector certainly isn’t lacking in veterans’ organizations. Typing the word “veteran” into Guidestar yields more than 36,000 results. With so many options, the lack of accountability in some veterans’ nonprofits has harmed others, as less successful organizations essentially siphon funds from more successful ones.  

    “There are too many veteran nonprofits​ and ​precious few market forces to hold them accountable​.​​ ​​At the same time, ​the amount of money going into the space​,​ if anything​,​ is decreasing,” Goldenberg​ says​. ​“As a result, high-performing nonprofits are under-resourced, and low-performing organizations with big names are kept on life support.”​ 

    Meanwhile, there is an urgent need for results.  

    “The way we treat our veterans has become a national security issue,” Goldenberg says, adding that for the last two years, each military branch besides the Marines has missed its recruiting goals. “The perception is that veterans have bad outcomes after their service.” 

    That perception, he emphasizes, “is not a true story.” As Casey notes, veterans are much more likely to be entrepreneurs than the general population. According to Small Business Administration data from 2022, veterans owned nearly two million businesses and employed more than five million people.  

    “We should step up when they return and ensure they have every opportunity to thrive post-service,” Casey says.  

    And while high-profile scandals may have turned some philanthropists off from supporting veterans’ charities, they can still make a great impact if they find the right groups to support.  

    “There’s a saying in the military that amateurs focus on tactics, professionals focus on ​logistics​. Same for philanthropy,” Goldenberg says.  

    When funders throw money at the problem without oversight, they risk seeing their money wasted on overhead, excessive spending or programs that sound nice in theory but don’t really work. When funders and nonprofits work together to focus on measurable outcomes, they can help people like Doyle find a new career — and truly change people’s lives. 

  • Ian Rowe on “Our American Stories”: My Coming of Agency Moment

    Recently, Founder and CEO of Vertex Partnership Academies Ian Rowe sat down with radio veteran Lee Habeeb for an episode of “Our American Stories,” a syndicated radio program and podcast that highlights “ordinary Americans who do extraordinary things.” Rowe, who is also a senior fellow at the American Enterprise Institute, frequently speaks about the Roundtable’s True Diversity initiative, an equality-based, holistic framework for embracing diversity that values each person as a unique individual and empowers charitable organizations with the freedom and flexibility to advance their missions and help those in need.   

    In this discussion, Rowe shares the idea of “agency” which he defines as “the force of one’s free will guided by moral discernment.” He recalls his parents’ journey from Jamaica to the United States in search of a better life in the 1960s and how his mother’s coming of agency story as a young black woman in Jamaica parallels his own. Rowe shares the moment he knew as a young boy in a segregated school the role he played in his own destiny and shares how it shaped him to be a leader in education today. 

    Below are excerpts from Rowe’s story, featured on “Our American Stories”:    

    “My parents are from Jamaica, West Indies. They met in the mid-1950s. … And my mom took a liking to this guy, Vincent, my mom’s name is Eula. He was working on a sugar plantation as an accountant there and he was very smart and they started dating while they were very young. She was 18, and he was just a few years older. … And they fell in love with each other. 

    At the time, Jamaica was still an English commonwealth. And so my dad thought he kind of reached kind of the apex of what he could learn in Jamaica. He had the opportunity to go to England to finish his schooling. He went to England and after being there a few months, he missed his ‘bud’ that’s what they called each other. 

    At the time the British Government required that if you wanted to marry a young woman who is under 21 you had to write a letter to the young woman’s parents asking for her hand in marriage. And so Vincent [my dad] wrote the letter of a lifetime asking for her hand in marriage. … After much discernment her parents decided yes, and so my mom, at 19 years old, in the mid 1950s, a young Black woman, took a boat all by herself, about a 5,000-mile journey, to England to meet up with my dad and they got married. About a year later they had my brother and seven years later they had me. 

    They ultimately came to the United States. My dad became one of the early Black engineers at IBM and my mom started working at Manufacturers Hanover …which became J.P. Morgan Chase.” 

    … 

    “In some ways, for my mom, that moment when her parents said yes to this huge decision, and I’ll talk a little about my own coming of agency moment, I think that’s what she experienced. This moment where she felt she had a lot of skin in the game. She played a role in her own destiny. She was advocating to her parents to be able to go to England at 19, all by herself. Something that wasn’t done. But she knew that it was right. 

    It’s a lesson I learned from my mom and my dad, as well. Every young person is going to face multiple moments in their life when the future is unknown. Where you’re facing a huge decision that you don’t know the outcome, and yet after you’ve mulled the decision, after you’ve mulled all the factors, then you commit. You commit. That’s a part of agency that you take ownership of decisions in such a way that you are leading a self-determined life. You are responsible for your behavior, for your attitude. That’s ultimately what agency is all about. 

    I think for my mom, having that first big yes many years ago initiated a cascade of decisions that she, and then she and my dad made, which essentially and ultimately was to the benefit of them and their own family.” 

    … 

    “When my parents first came to the United States it was 1968-1969. … A lot of racial tension. … But they were very cognizant of what was going on in the country. They were raised in a predominantly Black country, so the role of race was far diminished. I remember my dad always used to say that when he was in Jamaica, he was a man. He was a man. ‘In Jamaica I’m a man.’ It was not until he got to the United States that he learned he was a Black man. And that had meaning to him because in Jamaica, your skin color wasn’t the first thing that defined you. What defined you was much more your actions, your attitude, your ambition. But in the United States he felt that based on these external forces, you were a Black man first and he fought against that. He said, ‘Well that’s crazy.’ 

    They also recognized that the country was changing. You know the Civil Rights Act had just been signed, the Voting Rights Act signed. You know opportunity was opening up. So, in some ways they weren’t running from Jamaica, they were running to the United States in search of a better life.  

    They instilled in me certainly this idea that your effort and your character, and what you do matters far more than the singular characteristics.” 

    … 

    “We first came to Brooklyn and had a very humble home. We were in a two-family house. What’s interesting about that time was my parents frankly were not that happy with what they saw (about) how young Black men were operating their lives. They thought they were too loose, and they were concerned especially given the larger context of all of the issues facing the nation.” 

    … 

    “I was kind of on lockdown… From kindergarten I went to school in the morning, came home immediately, did my homework, we had dinner as family, went to bed. … And so my experience growing up was very contained. My parents placed a huge value on being together as a family. They placed a huge value on faith. They placed a huge value on education. 

    My parents put a very high premium on education. … They knew that if you were going to succeed in this country the opportunities are there, but you have to be prepared once those opportunities come your way.” 

    … 

    “In 1973…we moved to a small town in Laurelton, Queens, into a community that had been predominantly white, Italian, Jewish, but was slowly becoming more racially integrated as more Black people in particular were moving into Laurelton. And unfortunately, that slow integration led to a lot of racial tension in Laurelton, and my junior high school, junior high school 231, had become the epicenter. And the school board decided to solve this problem by saying ‘You know what, we are basically going to punt and we are going to create a new school, and annex, in Rosedale, Queens,’ which was another town a few miles over in a more permanently and predominantly white part of town.  

    Essentially what happened was all the white parents that were going to my junior high school 231 in Laurelton decided to take their kids out and send their kids to this annex junior high school in Rosedale. Leaving junior high school 231 as a segregated virtually all Black school. And my parents, on the assumption that where the white kids go that’s where the better education will be, … they said to me they were going to take me out of 231 and send me to this other school.” 

    I’ll always remember the Sunday night before the transfer papers were supposed to be submitted, I begged my parents. … Something about this decision didn’t feel right. I loved my school. I loved my teachers and even this very idea just because now all white kids are gone somehow it has to be worse.  Why? Why? Why just because now that everyone is Black that just inherently means that its bad. … I begged. …,’Please let me stay.’… Ultimately my parents relented.” 

    … 

    I always wonder that in that moment, even for my mom, did she think back to that moment when she was in Jamaica as a 19-year-old girl with this letter in the hands of her parents making this huge decision and she’s asking them to go, ‘I want to go. It will work out. I love him. I’m ready to go.’ And they said, ‘yes.’ I’ve always wondered if that experience parallels to when I was begging for the opportunity, now at 12 years old, to stay at my junior high school.  

    And I like to think yes. I like to think yes because I feel like that was her first coming of agency moment where she felt she knew that she could play a role in her own destiny. And I felt at 12 years old that after my parents said yes, that I had skin in the game now in a way that I’d never had before. … That was the first movement that I experienced agency. That I was a force in my own future. That I had the ability to shape my destiny. That was a turning point in my life. 

    Every big decision I’ve made going forward, particularly anything as it relates to my leadership in schools, is asking the basic question, ‘Why should it matter what the demographic makeup is of an institution? Who cares?’ What matters is the expectations. What we are asking young people to do. What is the metric for excellence? Are we holding everyone to high standards? That’s what matters. 

    I’m convinced that the reason I run schools today is connected back to that moment.” 

    … 

    “This presumption that just being all Black meant it had to be ‘less than’ and I never want anyone of any race, of any background, (to think) that just because there are kids of a certain background in their school or institution somehow it is ‘less than.’” 

    To listen to the full episode with Rowe, please visit  “Our American Stories.”   

  • Will the “Apprenticeship Degree” Come to America? 

    A version of this essay by Reach University President Joe E. Ross first appeared in Inside Higher Ed on July 25, 2023.  

    Philanthropy Roundtable is pleased to share this essay by Joe E. Ross, president of Reach University. Ross and his team have worked to provide an innovative model that creates pathways to opportunity for individuals working within educational communities while simultaneously solving one of the largest problems plaguing our nation’s schools today – teacher talent pipelines. Reach University is providing a low-cost solution to the barrier of credentialing for individuals who are best positioned to meet the educational needs of their local communities through a groundbreaking apprenticeship model.  

    Among high school seniors, a privileged few get to pick between elite, world-renowned colleges like Columbia, Duke, Harvard, MIT, Northwestern, Stanford, Wellesley or Yale.  

    What if they could spend their next few years at investment bank Goldman Sachs instead?  

    Some now can. Dozens of famous employers — including Goldman Sachs and other corporate luminaries like Deloitte, GE, IBM, J.P. Morgan, Nestlé, UBS and Rolls Royce — have begun to offer a four-year paid “apprenticeship” that leads to a debt-free bachelor’s degree.   

    What’s the catch?  

    Well, to apply for the Goldman Sachs gig and others like it, you need to be based in the United Kingdom. Here in the United States, the apprenticeship-to-degree model is only beginning to emerge, particularly for working adults who otherwise lack access to college. If the idea takes off, it could be a long-term solution to the $1.7 trillion student debt crisis and restore lagging faith in American higher education.  

    How does this model work?  

    Imagine a job – a paid job – that turns into a degree. Applicants apply to the employer. The diploma is technically conferred by a collaborating university. But the action happens outside the Ivory Tower. Half of the learning comes from on-the-job work. The rest comes from job-relevant classes typically held outside of working hours. Tuition is largely paid for as part of the learner’s compensation. There are no student loans. 

    Early adopters of a similar approach in the United States include state education agencies and K-12 school districts seeking to address the teacher shortage. The nonprofit Reach University created a debt-free, apprenticeship-based bachelor’s degree specifically for school employees in Alabama, Arkansas, California, Colorado and Louisiana. Launched in fall 2020, the fully job-embedded program has grown from 50 candidates to over 1,500 in less than three years.  

    The federal Pell grant typically covers all but $2,000 of the cost of the job-embedded degree program. Philanthropy or Labor Department apprenticeship funding covers most of the remaining tuition, so each candidate’s out-of-pocket contribution is capped at $900 per year. That’s enough to ensure some skin in the game, while keeping the program affordable without student debt.  

    Dr. Heath Grimes is the superintendent of the rural Russellville City School District in northwest Alabama. The majority of students in Russellville are Hispanic but the district has had a hard time recruiting bilingual staff. Grimes began last year to recruit prospective hires who had graduated from the local community college. He positioned the district as a kind of “transfer institution” where they could use their job to turn their associate degree into a bachelor’s degree.   

    Elizabeth Alonzo, who held an associate degree in business, was among the first to accept this unusual offer. She now serves as an English language aide. Her job is a kind of apprenticeship where what she does at work renders both a paycheck from the district and academic credit from Reach University. Less than a year from now, Alonzo will graduate with the bachelor’s degree she needs to become a teacher. 

    She will be the first fully bilingual elementary school teacher in Russellville.  

    For now, the apprenticeship-to-degree program at Reach exclusively serves school employees – classroom aides, coaches and bus drivers, for example – who aspire to become teachers, and who first need to earn a bachelor’s degree.  

    But could this idea expand in the United States to fields outside of teacher preparation?  

    The answer is yes. Just look at what’s happening in the United Kingdom. More than 100 universities now offer so-called “degree apprenticeships” in fields ranging from management consulting to medicine, and more than 40,000 new students enroll each year. Robert Halfon, the U.K. minister for higher education and skills, likes to say that “degree” and “apprenticeship” are his two favorite words.  

    The ordering of those words — degree before apprenticeship — reflects the complexity of the apprenticeship system in the United Kingdom, where the “degree apprenticeship” is the pinnacle of a multi-level system that also includes the “intermediate apprenticeship” and “advanced apprenticeship.” This nomenclature does not translate on our side of the Atlantic. It makes more sense to refer to the American version as the “apprenticeship degree.”  

    After all, amid skyrocketing student debt, it’s not the apprenticeship that needs to be modified. It’s the degree.  

    That’s why Reach University is bringing together policymakers, philanthropists, employers and entrepreneurial leaders in higher education and workforce development to launch a new nationwide center to advance the apprenticeship degree – not as a postsecondary alternative, but as a postsecondary option – and to make it mainstream in the United States.  

    We believe the emergence of the apprenticeship degree has three notable implications for the future of American higher education:  

    1. For starters, we’re skeptical of narratives that paint the apprenticeship as a mere “alternative” to college. This is a false binary. An apprenticeship that intentionally leads to a degree provides both near-term job skills and long-term upward mobility.  
    1. Second, we imagine the future of college as the future of work: The workplace becomes a campus. Colleagues become classmates. Classes may be online, but learners are not remote. This would be a big change for higher education. To conflate the apprenticeship degree with an online degree or an executive degree would be like mistaking Superman for a bird or plane. 
    1. Finally, when it comes to the nation’s seemingly intractable student loan crisis, we believe the debt-free apprenticeship degree could save the day. But this will only happen if job-embedded higher education goes mainstream, drawing the imagination of learners across all income levels. 

    Enrique Peñalosa, a former mayor of Bogotá, Colombia, has been quoted describing this third dynamic in the context of urban policy: “The sign of an advanced society is not where the poor have cars, it’s where even the rich use public transportation.” 

    Similarly, we’ll know the apprenticeship degree is changing the landscape of opportunity in America when rich and poor alike aspire to a job that will lead to a good degree.  

    Not the other way around.   

    To learn more about Reach University, visit www.reach.edu. If you are interested in helping accelerate Reach’s work addressing the teacher shortage or supporting Reach’s Fall 2023 launch of the new National Center for the Apprenticeship Degree (NCAD), please contact NCAD Executive Director Eric Dunker, edunker@reach.edu.   

    For more information about other organizations providing Pathways to Opportunity, reach out to Philanthropy Roundtable Program Director Erica Haines.