JPMorgan Chase & Co. announced Wednesday that it has awarded one of 100 grants for $25,000 to ReadySetLaunch, the college advising non-profit started by nine Yalies in 2008. The grant was part of the Chase Community Giving program, a competition that allows Facebook users to vote for their favorite small and local non-profit organizations most in need of financial support.

By receiving one of the $25,000 grants, ReadySetLaunch has made it through the first round of the Chase Community Giving contest. But the competition is not over yet: The 100 winners of the $25,000 grant have been asked to submit a “big idea” proposal to compete for a $1 million grant.

Chase Community Giving will post those proposals online Jan. 8, and starting Jan. 15, Facebook users will be able to vote for their favorite proposed project. One group will receive the $1 million grant, and five other charities will receive $100,000.

Click here to read the News’ Nov. 2 profile on ReadySetLaunch. Click here to read more about the Chase Community Giving Contest and to cast a vote for the $1 million proposal starting Jan. 15.