Posted on January 28, 2009

JPMorgan Chase Awards $10 Million to Seattle Art Museum

New York City-based JPMorgan Chase has announced a five-year, $10 million grant to the Seattle Art Museum.

The grant, which is in addition to the bank's $2.65 million commitment to Washington-based nonprofits, builds on support provided to SAM since 1999 by Washington Mutual, whose assets Chase purchased in September. While Chase will not assume WaMu's lease with SAM for approximately 240,000 square feet of office space, it has agreed to work with the museum to coordinate leasing activities and identify possible tenants for the space.

"This grant reflects our special relationship with SAM," said Chase Foundation president Kim Davis. "We strive to be a good corporate citizen in all the communities where we do business."