News Column

Wells Fargo Donates $275.5 Million to Communities in 2013

February 19, 2014

Grants help local community groups meet wide array of needs

SAN FRANCISCO--(BUSINESS WIRE)-- Wells Fargo & Company (NYSE: WFC) announced today that it contributed $275.5 million to 18,500 nonprofits in 20131, marking the fifth consecutive year of more than $200 million in total annual corporate giving.

“From day one, Wells Fargo has been committed to helping build strong communities. It’s a commitment that’s core to our company’s vision and values,” said Chairman and CEO John Stumpf. “Our business, our economy, and our country cannot be strong unless our communities are. These are the communities where our customers and our team members live, work, and do business.”

In 2013, Wells Fargo’s community investments included $81.6 million to 8,000 educational programs and schools around the U.S. and $84 million in grants to nonprofits focused on community development in distressed communities, including affordable housing, homeownership counseling, financial education, workforce development and job creation. In addition, Wells Fargo contributed to nonprofits serving the following causes:

  • Arts and Culture: $18.5 million
  • Civic2: $16.3 million
  • Environment: $21.8 million
  • Human Services: $52.9 million

    Team Member Giving and Volunteerism Increase

    In 2013, 55,600 team members reported more than 1.69million community involvement and volunteer hours. These hours represent a 12.7 percent increase over 2012 and a monetary value of $37.4 million3. Examples of volunteer activities included serving meals to the homeless and working in food banks; cleaning waterways and restoring parks and public land; and delivering financial education to 108,820 individuals and families using Wells Fargo’s Hands on Banking® program.

    “Wells Fargo has an invaluable asset in its team members,” said Jon Campbell, head of Government and Community Relations at Wells Fargo. “These are dedicated people who, year after year, unselfishly give their time and talent, and donate their own financial resources, to their communities. They are setting an amazing example, and they’re making a positive impact in neighborhoods all over the country.”

    In 2013, Wells Fargo team members contributed $64.9 million to more than 25,000 nonprofits and schools during Wells Fargo’s annual Community Support and United Way Campaign. For 2013, United Way Worldwide named Wells Fargo’s campaign No. 1 in the U.S., the fifth consecutive year that the company’s team member giving has been recognized with that honor. Combined with other year-round donations to nonprofits, team members donated a record $89 million, a 12.6 percent increase over 2012. Team member donations and volunteer hours are calculated separately and are not included in Wells Fargo’s corporate giving totals.

    About Wells Fargo

    Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.5 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 9,000 locations, 12,000 ATMs, and the Internet (wellsfargo.com), and has offices in more than 35 countries to support the bank’s customers who conduct business in the global economy. With more than 264,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 25 on Fortune’s 2013 rankings of America’s largest corporations. In 2013, the Company invested $275.5 million in grants to 18,500 nonprofits, and team members contributed more than 1.69 million volunteer hours around the country. Wells Fargo’s vision is to satisfy all our customers’ financial needs and help them succeed financially. Wells Fargo perspectives are also available at blogs.wellsfargo.com.

    1 Corporate giving total includes giving by Wells Fargo Bank, its subsidiaries, the Wells Fargo Foundation, and the Wells Fargo Regional Foundation.

    2 Donations in the “Civic” category focus on support to organizations and associations that enhance a community’s quality of life (such as public policy, community beautification, city parks, civic leadership, citizen education, and cultural diversity). Donations in “Community Development” primarily support affordable housing for low-to-moderate income individuals, economic development programs, and revitalization or stabilization of low-to-moderate income communities.

    3 According to Independent Sector, a U.S. coalition of more than 550 philanthropic organizations, the estimated value of one volunteer hour is $22.14.




    For Wells Fargo & Company

    Media

    Jim Nawrocki, 415-222-1940

    Source: Wells Fargo & Company


  • For more stories on investments and markets, please see HispanicBusiness' Finance Channel



    Source: Business Wire


    Story Tools