Chase Facebook Challenge, First Round Votes due by December 11

JP Morgan Chase has announced a $5 million community giving program on the social networking site Facebook that it hopes will inspire a new approach to corporate philanthropy. From the CEO: "The grassroots nature of Facebook will allow us to hear directly which local charities matter most to our communities, hopefully creating an even bigger impact."

Chase Community Giving:
http://apps.facebook.com/chasecommunitygiving/

HERE'S HOW IT WORKS:

Facebook users nominate nonprofit organizations with operating budgets of no more than $10 million working in the areas of education, housing, the environment, health and human services, arts and culture, and animal welfare to receive a grant from Chase. The one hundred organizations that receive the most votes by December 11 will each receive $25,000 from Chase and advance to the program's second round, where they will have the option to submit a "Million Dollar Proposal" to Facebook users detailing the difference they would make in their local community with the extra resources. Starting January 15, Facebook users will be able to vote again. On February 1, the organization receiving the most votes will be announced as the winner of $1 million, with the five runners-up each receiving $100,000. In addition, a special advisory that includes celebrities and Facebook and Chase executives will award $1 million to the nominated charity of its choice, while members of the board who do not work for Chase or Facebook will receive a $25,000 honorarium to donate to a charity of their choice.