Wells Fargo today announced the company donated more than $18.3 million through 318 grants to local nonprofits, schools and community organizations in 2018 to help the communities and people of the state of New York. Wells Fargos 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.
When combined with the $4 million donated by the companys New York team members, nonprofits in the state received a total of $22.3 million from Wells Fargo and its team members in 2018. That amounts to an average daily donation of $61,095.
Across our community, many residents are working hard to make ends meet, said Deborah Smith, Community Affairs Manager for New York, New Jersey and Connecticut. Here in New York, we want to help people find a stable place to live, help small business owners expand, and help young people gain a quality education that prepares them for the workforce. We are determined to help people and communities, especially in underserved areas, succeed financially. We will continue to provide philanthropy, volunteers, expertise and other resources to revitalize and strengthen local neighborhoods.
Beyond philanthropy, Wells Fargo team members in New York volunteered more than 46,000 hours in 2018 to support nonprofits and causes important to them. These volunteer hours are the equivalent of $1.1 million, according to the Independent Sector. On Dec. 3, 2018, Volunteers of America “ Greater New York recognized Wells Fargo New York volunteers with its Spirit of Founders award for active volunteerism and contributions to support critical social services for New Yorkers in need.
Part of what makes Wells Fargo unique is the generosity of our team members who help multiply our community impact, said Robert DiDiano, Regional Managing Director for Wells Fargos New York Private Bank. 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.
United Way Worldwide recently recognized Wells Fargo for having the No. 1 workplace giving campaign in the U.S. for the tenth-consecutive year.
Making an impact in New York
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 Development Corporation of Long Island, Neighborhood Housing Services of New York City and Local Initiatives Support Coalition of New York City to provide homebuyer education, down payment assistance and other affordable housing solutions.
- 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 ACCION EAST, Grameen America, Community Capital of New York and the Business Center for New Americans “ received grants to provide access to capital and training for entrepreneurs in rural and urban markets.
- 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. For example, Wells Fargo collaborated with Hispanic Federation and Feeding Westchester.
- Access to education. Support included grants to local K-12 schools, scholarships for post-secondary or vocational training, and financial education, including Working in Support of Education (W!se), Volunteer of America “ Greater New York and the United Way of New York City.
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 Fargos 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 Fortunes 2018 rankings of Americas 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 companys corporate responsibility are available at Wells Fargo Stories.
Stephanie Ahenkora, 908-370-4061