Company’s team members also donated to 30,000 nonprofits and volunteered 1.73 million hours serving communities
Wells Fargo & Company (NYSE: WFC) supported 14,900 nonprofits in 2016,
donating $281.3 million to organizations across the country. Separately,
Wells Fargo’s team members showed their commitment to communities by
donating a total of $98.87 million to 30,000 nonprofits, including $60.7
million that was pledged during the company’s monthlong Community
Support Campaign. For the eighth consecutive year, United Way Worldwide
named Wells Fargo’s workplace giving campaign No. 1 in the U.S.
“Even while we as a company are in the midst of rebuilding trust, our
team members continued to step up, showing an unwavering dedication to
caring for others,” said Jon Campbell, head of Government and Community
Relations. “This shows the true character of our team members and the
true passion they have for helping our communities thrive.”
More than 80,000 team members donated during the company’s Community
Support Campaign, where team members donate their time and money to
support charitable organizations. United Way Worldwide has recognized
Wells Fargo’s campaign as the largest in the country every year since
2009.
“We’re grateful to Wells Fargo and its team members for their continued
commitment to making a positive impact on people’s lives,” said Brian
Gallagher, president and CEO of United Way Worldwide.
More than 82,000 team members also donated their time in 2016, reporting
1.73 million volunteer hours with nonprofits, which equals a monetary
value of more than $40 million according to Independent Sector.*
Wells Fargo provides first progress report towards 2020 philanthropic
goals
Last year, Wells Fargo launched an integrated, companywide corporate
social responsibility strategy and five year-goals that focus on
three areas: strengthening financial self-sufficiency and creating
economic opportunities in underserved communities; advancing diversity
and social inclusion and helping to ensure that there is equal access to
resources and opportunities to succeed; and accelerating the transition
to a lower-carbon economy and helping to reduce the impacts of climate
change.
The company last year announced a philanthropic goal of $665 million in
these three areas by 2020. Of the $281.3 million** Wells Fargo donated
to nonprofits last year, $139.9 million directly supported our 2020
strategic philanthropy goals. The donations included:
-
$87.9 million to support economic empowerment and opportunities in
underserved communities, including financial education, sustainable
housing, small
businesses and other critical economic needs. The 2020 goal is
$500 million.
-
$36.4 million to advance diversity and social inclusion, including the development
of women and other diverse leaders, and other critical social
needs. The 2020 goal is $100 million.
-
$15.6 million to support environmental sustainability, including clean
technology, environmental education, and strengthening community
resiliency. The 2020 goal is $65 million.
The remaining donations were directed to community-based organizations
where Wells Fargo team members live and work, including education,
community development, the arts, and civic-focused nonprofits.
The company will report more progress related to its 2020 corporate
social responsibility goals when Wells Fargo’s 2016 Corporate Social
Responsibility Report is released in April.
* The Independent Sector is a U.S. coalition of more than 550
philanthropic organizations. Their most recent estimate of the value of
one volunteer hour is $23.56.
** Total includes $3.8 million in giving by the Wells Fargo Regional
Foundation.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a diversified, community-based
financial services company with $1.9 trillion in assets. Founded in 1852
and headquartered in San Francisco, Wells Fargo provides banking,
insurance, investments, mortgage, and consumer and commercial finance
through more than 8,600 locations, 13,000 ATMs, the internet
(wellsfargo.com) and mobile banking, and has offices in 42 countries and
territories to support customers who conduct business in the global
economy. With approximately 269,000 team members, Wells Fargo serves one
in three households in the United States. Wells Fargo & Company was
ranked No. 27 on Fortune’s 2016 rankings of America’s largest
corporations. Wells Fargo’s vision is to satisfy our customers’
financial needs and help them succeed financially. News, insights and
perspectives are also available at Wells
Fargo Stories.