Facebook, JP Morgan Chase To Give $5 Million Dollars To Charity Through Internet Promotion

Facebook's user base now totals over 300 million people. The social media network thus has the potential to reach more people in a single month than likely any other traditional media outlet, including network television, print news and radio.

With this in mind, Facebook has teamed up with JP Morgan Chase to distribute more than $5 million across its network of nonprofit organizations. Based on the votes of Facebook users, the partnership will donate $1 million to the winning nonprofit, $100,000 each to the five runners up, and $25,000 each to the next 100 finalists. That may seem like everyone gets a piece of the pie, but all of Facebook's registered charities, totaling more than 500,000, are eligible to win.

The program is called Chase Community Giving: You Decide What Matters and you an vote now through December 11. The top 100 charities will be announced on December 15, with another round of voting to commence from January 15 to January 29. The five runners up and $1 million grand prize winner will be announced on February 1.

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