JP Morgan Chase (NYSE: JPM) announced Thursday that its Chase unit has donated $5 million to Feeding America, which is the country’s largest hunger relief organization. According to Feeding America, the donation marks the largest one-time corporate gift it has ever received.
Chase’s donation is planned for use in operating 34 trucks, which includes 13 mobile pantries, to help deliver food products to communities that have struggled through the recession.
“JPMorgan Chase has been a great supporter of Feeding America and our network food banks. We are very fortunate to have such a committed and action-oriented partner in the fight against hunger,” said Vicki Escarra, president and CEO of Feeding America.
The new trucks will enable Feeding America to distribute more than 40 million meals annually, according to the press release.
Including the $5 million Feeding America donation, JPMorgan Chase has given almost $14 million helping food banks and hunger related programs over the past 10 years.
“This grant reflects our desire to strategically build capacity across Feeding America’s network of food banks by helping our highest-need communities harvest food that might otherwise simply go to waste,” said Kimberly Davis, president of the JPMorgan Chase Foundation.
“We hope this gift materially strengthens the infrastructure we have in place to put nutritious food on the tables of many more hungry families,” added Davis.
According to the U.S. Department of Agriculture, 49 million Americans struggled with hunger in 2008, representing about 1 in every 6 people. That marks a 36 percent jump from 2007 when about 36 million people struggled with hunger.
