JPMorgan Chase teams up with Facebook to donate $5 million to small charities

JPMorgan Chase has teamed up with Facebook to allow Facebook users to decide how to give away $5 million to small charities.

The "Chase Community Giving" Application will let Facebook users choose from more than half a million charities with an operating budget less than $10 million apiece.

The 100 charities obtaining the most votes will each receive $25,000 from Chase.  In addition, a second round of voting will award a $1 million grant to one of the 100 charities.  The facebook vote begins on January 15th.

The $5 million prize pool is part of a marketing campaign designed to target the business of small charities, and represents the a departure from the traditional donation patterns of the banking giant.  JPMorgan Chase donates about $100 million annually to non-profits.  However, these donations are typically granted to larger, higher-profile organizations.