Wells Fargo No. 2 Corporate Cash Giver in Chronicle of Philanthropy Rankings
September 18 2018 - 2:30PM
Business Wire
Company making progress against $400 million philanthropy goal
set for 2018
According to a new survey on corporate giving from the Chronicle
of Philanthropy, the Wells Fargo Foundation is the No. 2 corporate
cash giver in the U.S. and the top financial institution in overall
giving.
The rankings, based on 2017 data, reflect more than $286.5
million in cash contributions distributed by Wells Fargo to over
14,500 nonprofits. The funding supports such important causes as
affordable housing, small business growth, job readiness and
environmental sustainability. Earlier in 2018, the Wells Fargo
Foundation announced it would contribute $400 million to
communities across the U.S. – a 40 percent increase in giving – and
it is currently on track to reach that milestone.
“We wholeheartedly believe that business can and should play a
role in building stronger communities,” said Jon R. Campbell,
president of the Wells Fargo Foundation. “In fact, leadership in
corporate citizenship is one of our six company goals, and our team
members know and embrace this commitment by not only supporting our
philanthropy but also donating more than two million hours of
volunteer time in local communities. For nonprofits of all sizes,
we know that cash donations are vital so we will continue to do our
part to work together to bring hope and stability to people and
underserved communities.”
Recent contributions from the Wells Fargo Foundation
include:
- The Tribal Solar Accelerator Fund – a
three-year, $5 million philanthropic commitment to help GRID
Alternatives expand solar energy to tribal communities across the
U.S. The project will expand no-cost solar to reservations, greatly
reducing energy bills, and train tribal members in solar jobs.
- The
NeighborhoodLIFT® program – in collaboration with NeighborWorks®
America and its network members, this program recently expanded to
Boston; Kansas City, Mo.; Chicago; and Des Moines, Iowa to boost
homeownership. In 2018, Wells Fargo has committed more than $75
million to extend its reach. Since the program’s inception, the
down payment assistance and homebuyer education initiative has
helped more than 18,000 families achieve homeownership.
- Financial Capability – with more than
$21 million in funding in the last year, financial counseling and
coaching for underserved communities, families and struggling small
business owners has put more people on a pathway to financial
stability. Our most recent $3.5 million commitment helps
participants set long-term goals and provides a local expert to
coach them towards success.
Beginning in 2019, Wells Fargo will invest two percent of its
after-tax profits for philanthropy.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a diversified,
community-based financial services company with $1.9 trillion in
assets. Wells Fargo’s vision is to satisfy our customers’ financial
needs and help them succeed financially. Founded in 1852 and
headquartered in San Francisco, Wells Fargo provides banking,
insurance, investments, mortgage, and consumer and commercial
finance through more than 8,300 locations, 13,000 ATMs, the
internet (wellsfargo.com) and mobile banking, and has offices in 38
countries and territories to support customers who conduct business
in the global economy. With approximately 265,000 team members,
Wells Fargo serves one in three households in the United States. In
2017, Wells Fargo donated $286.5 million to 14,500 nonprofits and
Wells Fargo team members volunteered a record 2 million hours. In
2018, Wells Fargo is ranked as the No. 2 corporate cash donor in
the U.S., according to the Chronicle of Philanthropy. Wells Fargo’s
corporate social responsibility efforts are focused on three
strategic priorities: diversity and social inclusion, economic
empowerment, and environmental sustainability. News, insights and
perspectives from Wells Fargo are also available at Wells Fargo
Stories.
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version on businesswire.com: https://www.businesswire.com/news/home/20180918006015/en/
MediaKim Erlichson,
201-463-4243Kim.Erlichson@wellsfargo.com
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