Wells Fargo Donates $281.3 Million in 2016 to 14,900 Nonprofits
March 09 2017 - 10:12AM
Business Wire
Company’s team members also donated to 30,000
nonprofits and volunteered 1.73 million hours serving
communities
Wells Fargo & Company (NYSE: WFC) supported 14,900
nonprofits in 2016, donating $281.3 million to organizations across
the country. Separately, Wells Fargo’s team members showed their
commitment to communities by donating a total of $98.87 million to
30,000 nonprofits, including $60.7 million that was pledged during
the company’s monthlong Community Support Campaign. For the eighth
consecutive year, United Way Worldwide named Wells Fargo’s
workplace giving campaign No. 1 in the U.S.
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“Even while we as a company are in the midst of rebuilding
trust, our team members continued to step up, showing an unwavering
dedication to caring for others,” said Jon Campbell, head of
Government and Community Relations. “This shows the true character
of our team members and the true passion they have for helping our
communities thrive.”
More than 80,000 team members donated during the company’s
Community Support Campaign, where team members donate their time
and money to support charitable organizations. United Way Worldwide
has recognized Wells Fargo’s campaign as the largest in the country
every year since 2009.
“We’re grateful to Wells Fargo and its team members for their
continued commitment to making a positive impact on people’s
lives,” said Brian Gallagher, president and CEO of United Way
Worldwide.
More than 82,000 team members also donated their time in 2016,
reporting 1.73 million volunteer hours with nonprofits, which
equals a monetary value of more than $40 million according to
Independent Sector.*
Wells Fargo provides first progress report towards 2020
philanthropic goals
Last year, Wells Fargo launched an integrated, companywide
corporate social responsibility strategy and five year-goals that
focus on three areas: strengthening financial self-sufficiency and
creating economic opportunities in underserved communities;
advancing diversity and social inclusion and helping to ensure that
there is equal access to resources and opportunities to succeed;
and accelerating the transition to a lower-carbon economy and
helping to reduce the impacts of climate change.
The company last year announced a philanthropic goal of $665
million in these three areas by 2020. Of the $281.3 million** Wells
Fargo donated to nonprofits last year, $139.9 million directly
supported our 2020 strategic philanthropy goals. The donations
included:
- $87.9 million to support economic
empowerment and opportunities in underserved communities, including
financial education, sustainable housing, small businesses and
other critical economic needs. The 2020 goal is $500 million.
- $36.4 million to advance diversity and
social inclusion, including the development of women and other
diverse leaders, and other critical social needs. The 2020 goal is
$100 million.
- $15.6 million to support environmental
sustainability, including clean technology, environmental
education, and strengthening community resiliency. The 2020 goal is
$65 million.
The remaining donations were directed to community-based
organizations where Wells Fargo team members live and work,
including education, community development, the arts, and
civic-focused nonprofits.
The company will report more progress related to its 2020
corporate social responsibility goals when Wells Fargo’s 2016
Corporate Social Responsibility Report is released in April.
* The Independent Sector is a U.S. coalition of more than 550
philanthropic organizations. Their most recent estimate of the
value of one volunteer hour is $23.56.
** Total includes $3.8 million in giving by the Wells Fargo
Regional Foundation.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a diversified,
community-based financial services company with $1.9 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 8,600 locations,
13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and
has offices in 42 countries and territories to support customers
who conduct business in the global economy. With approximately
269,000 team members, Wells Fargo serves one in three households in
the United States. Wells Fargo & Company was ranked No. 27 on
Fortune’s 2016 rankings of America’s largest corporations. Wells
Fargo’s vision is to satisfy our customers’ financial needs and
help them succeed financially. News, insights and perspectives are
also available at Wells Fargo Stories.
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Wells Fargo & CompanyMediaErica Van Ross,
704-715-9749erica.vanross@wellsfargo.com
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