Giving addresses community issues around affordable housing, small businesses, education and sustainability
CHARLOTTE, N.C.--(BUSINESS WIRE)--Wells Fargo today announced the company donated more than $35.8 million
to local nonprofits, schools and community organizations in 2018 to help
the communities and people of North Carolina. The total includes $25.6
million through 1,148 grants from the Wells Fargo Foundation, $3.3
million in matching grants to educational institutions and $6.85 million
through the NeighborhoodLIFT effort in Charlotte. In addition, Wells
Fargo team members in North Carolina showed their commitment by logging
237,800 volunteer hours with nonprofits, schools and community
organizations, and by donating more than $13.2 million.
Wells Fargo’s philanthropic contributions build on a long history of
collaboration with local nonprofits and community leaders to make a
positive impact by addressing urgent community issues such as affordable
housing, small-business growth, access to education and sustainability.
“Wells Fargo has a rich history of community support across the country
and here in North Carolina,” said Juan Austin of Wells Fargo Community
Relations. “We approach philanthropy with a problem-solving mindset,
working with a range of public and private sector stakeholders to
understand the most urgent problems and the solutions that can have the
most impact — from helping people find a stable place to live to helping
small business owners expand to helping young people learn job skills
that can translate into a steady income. Our goal is to help build
strong and vibrant communities, improve the quality of life and make a
positive difference.”
Making an impact across North Carolina
Wells Fargo concentrated its local philanthropic contributions on
addressing urgent community issues such as:
-
Affordable housing. To help increase affordable, stable housing
and homeownership in low- and moderate-income neighborhoods, Wells
Fargo collaborated with grantees such as Community Housing Solutions,
Mountain Housing Opportunities, DHIC and CASA to provide homebuyer
education, down payment assistance and other affordable housing
solutions. Wells Fargo also made a commitment to invest $20 million by
2020 in down payment assistance grants, support for the Housing
Opportunity Fund and sustainable community development in the
Charlotte region.
-
Small business growth. Small businesses are critical to job
creation and a vibrant community. Many diverse-owned small businesses,
especially those in rural and low- to moderate-income communities,
face unique challenges and often lack access to the full spectrum of
resources necessary for growth and success. Nonprofits serving small
businesses, including Carolina Small Business Development Fund, Self
Help Ventures Fund, Micro Enterprise loan program and SCORE, received
grants to provide access to capital and training for entrepreneurs in
rural and urban markets. In addition, Wells Fargo provided funding for
City Start Up Labs, focused on business entrepreneurial development
for minorities in Charlotte.
-
Economic equity and inclusion. Support included grants to
nonprofits that directly serve diverse and historically underserved
groups, including initiatives focused on the development of women and
diverse talent, education and vocational training and other solutions
for communities with limited access to traditional financial services.
Wells Fargo is the founding organization for, and a long-standing
investor in Community Building Initiative – a leadership development
program in Charlotte that helps diverse regional leaders understand
and address access, equity and inclusion issues related to economic
development and civic engagement. In addition, Wells Fargo
collaborated with the YWCA, Bennett College and Dress for Success
Triangle NC.
-
Access to education. Support included grants for local K-12
schools, scholarships for post-secondary or vocational training, and
financial education, including Durham Technical Community College, the
North Carolina Society of Hispanic Professionals, Junior Achievement
and Communities in Schools. Wells Fargo also provided a grant for over
30 urban district principals in Charlotte Mecklenburg Schools to
participate in the nationally recognized Harvard Institute for Urban
School Leadership.
-
Minimizing the impacts of climate change. The company supported
the work of nonprofits helping communities become more resilient in
the face of a changing climate, including environmental education,
resiliency planning, green infrastructure and bringing renewable
energy to low-income communities. For example, Wells Fargo supported
the Piedmont Environment Alliance, The Grandfather Mountain
Stewardship Foundation, Triangle Land Conservancy and the Coastal Land
Trust. In addition, Wells Fargo provided more than $5 million in
support for Catawba Lands Conservancy to preserve land, create green
infrastructure and promote access to the Carolina Thread Trail.
Included in Wells Fargo’s support were funds committed to the American
Red Cross to help provide shelter and relief in communities across North
Carolina and South Carolina impacted by Hurricane Florence. Wells Fargo
is working with community leaders and proven nonprofits, targeting rural
areas with high poverty levels, high unemployment and few resources. In
addition, through the company’s Diverse Community Capital program, Wells
Fargo donated more than $500,000 to nonprofit organizations supporting
recovery efforts for small businesses in the region.
Nationwide, Wells Fargo team members volunteered 2 million hours with
nonprofits last year, and contributed a total of $75.4 million to
nonprofits across the country, leading United Way Worldwide to name
Wells Fargo’s employee workplace the No.1 workplace giving campaign for
10 consecutive years.
“Part of what makes Wells Fargo unique is the generosity of our team
members who help multiply our community impact,” added Jay Everette,
Community Relations manager for Charlotte. “Sometimes giving time is
even more valuable than money, because it puts our desire to build a
strong community into action and gives us a tangible way to personally
make a difference.”
About Wells Fargo
Founded in 1852 and headquartered in San Francisco, Wells Fargo &
Company (NYSE:WFC) provides banking, investment and mortgage products
and services, as well as consumer and commercial finance, through 7,800
locations, more than 13,000 ATMs, and the internet (wellsfargo.com).
Wells Fargo’s vision is to satisfy customers’ financial needs and help
them succeed financially. With approximately 259,000 team members, Wells
Fargo serves one in three households in the United States. Wells Fargo &
Company was ranked No. 26 on Fortune’s 2018 rankings of America’s
largest corporations. In 2018, Wells Fargo donated more than $444
million to nearly 11,000 nonprofits in support of affordable housing,
small business growth, financial education, and sustainability, among
other community needs. For 10 consecutive years, Wells Fargo has held
the honor of No. 1 in workplace giving by United Way Worldwide. Wells
Fargo team members also make a difference by donating more than 2
million hours of volunteer time in the last year. News, insights and
more information on the company’s corporate responsibility are available
at Wells
Fargo Stories.