Wells Fargo Donated $12 Million to Support Colorado Nonprofits in 2018
Giving addresses community issues around affordable housing, small
businesses and education
DENVER–(BUSINESS WIRE)–Wells Fargo today announced the company donated more than $12 million
through 236 grants to local nonprofits, schools and community
organizations in 2018 to help the communities and people of Colorado.
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 and access to education.
When combined with the nearly $1.1 million donated by the company’s
5,140 Colorado team members during the company’s internal Community
Support Campaign, nonprofits in the state received a total of $13.1
million from Wells Fargo and its team members in 2018. That amounts to
an average daily donation of $35,890.
“Across our state, many residents are working hard to make ends meet.
Here in Colorado, 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,” said Wells Fargo Lead
Region President Patrice DeCorrevont.
“We are determined to help people and communities, especially in
underserved areas, succeed financially. We plan to continue to help
revitalize and strengthen our local neighborhoods through philanthropy,
volunteers, expertise and other resources.”
Beyond philanthropy, Wells Fargo team members in Colorado volunteered
almost 39,000 hours in 2018 to support nonprofits and causes important
to them. The Independent Sector estimates the value of one volunteer
hour is $24.69.
At 39,000 hours, the value of Wells Fargo team members’ 2018
volunteerism in Colorado was nearly $963,000.
When you combine the Wells Fargo and team member giving totals of $13.1
million and the $963,000 value of the volunteerism, it means Wells Fargo
and its team members made a $14 million charitable impact in Colorado
“Part of what makes Wells Fargo unique is the generosity of our team
members who help multiply our community impact,” continued DeCorrevont.
“Sometimes giving our 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
Making an impact in Colorado
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 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 Colorado Enterprise Fund, received grants to
provide access to capital and training for entrepreneurs in rural and
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 Emily Griffith Technical
College and provided a $75,000 grant to support the 360 Degree fund, a
program that provides stipends to help students pay for non-academic
expense such as childcare, transportation or medical bills.
Access to education. Support included grants for local K-12
schools, scholarships for post-secondary or vocational training, and
financial education, including a $100,000 grant to the Boys & Girls
Clubs, which will support financial literacy programming in clubs
across Colorado. This builds off a 2017 grant that brought Hands on
Banking® curriculum to 38 clubs in 15 counties.
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
Nicole Schwab, 303-863-4781