Wells Fargo Donated $14 Million to Support Minnesota Nonprofits in 2018

Giving addresses community issues around affordable housing, small
businesses, financial education, workforce development

MINNEAPOLIS–(BUSINESS WIRE)–Wells Fargo today announced the company donated more than $14 million
through 505 grants to local nonprofits, schools and community
organizations in 2018 to help the communities and people of Minnesota.

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, financial education and workforce
development.

When combined with the more than $6.3 million donated by the company’s
18,000 Minnesota team members during the company’s internal Community
Support Campaign, nonprofits in the state received a total of $20.3
million from Wells Fargo and its team members in 2018. That amounts to
an average daily donation of $55,616.

Across our community, many residents are working hard to make ends
meet,” said Laurie Nordquist, Wells Fargo Minnesota CEO. “Here in
Minnesota, 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 Minnesota volunteered
nearly 179,000 hours in 2018 to support nonprofits and causes important
to them, including organizations such as Habitat for Humanity, People
Serving People and Junior Achievement. The Independent Sector estimates
the value of one volunteer hour is $24.69.

At 179,000 hours, the value of Wells Fargo team members’ 2018
volunteerism in Minnesota was more than $4.4 million.

When you combine the Wells Fargo and team member giving totals of $20.3
million and the $4.4 million value of the volunteerism, it means Wells
Fargo and its team members made a $24.7 million charitable impact in
Minnesota last year.

Part of what makes Wells Fargo unique is the generosity of our team
members, who help multiply our community impact,” said Patty Pannkuk,
Wells Fargo Community Relations manager. “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 Minnesota

Wells Fargo concentrated its 2018 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 Project for Pride in Living,
    Minnesota Homeownership Center, Hmong American Partnership,
    BuildWealth MN, Catholic Charities, Habitat for Humanity, Greater
    Metropolitan Housing Corporation and the Minnesota Assistance Council
    for Veterans to provide homebuyer education, down payment assistance
    and affordable housing solutions.
  • Small business growth. 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. The company supported
    nonprofits serving small businesses, including Metropolitan Economic
    Development Association, WomenVenture, Minnesota Initiative
    Foundation, Northside Economic Opportunity Network, African
    Development Center and the Latino Economic Development Center to
    provide access to capital and training for entrepreneurs in rural and
    urban markets.
  • Financial education. Wells Fargo supported grants for local
    financial education programs, including contributions to American
    Indian Family Services, BestPrep, Junior Achievement of the Upper
    Midwest, Karen Organizations of Minnesota and MN Council on Economic
    Education. The company also supported the GetLifted Community
    Financial Capability program.
  • Workforce development. The company supported the work of
    nonprofits to help communities expand youth career/job readiness
    programs, post-secondary education opportunities and adult employment
    initiatives with grants to Achieve Minneapolis, AVIVO, CAPI, Cookie
    Cart, Goodwill Industries, Juxaposition, Migizi Communications and
    Greater Twin Cities United Way.

Wells Fargo is a dedicated, strong partner of affordable housing
initiatives in Minnesota,” said Chris Coleman, President/CEO of Twin
Cities Habitat for Humanity. “Over the past 25 years, the company has
donated $5 million to sponsor work on more than 160 Twin Cities homes,
including 40 full home sponsorships and thousands of volunteer hours.
Wells Fargo’s impact on affordable homeownership opportunities will
multiply for generations.”

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
at Wells
Fargo Stories
.

Contacts

Media
John Hobot, 612-356-7490
[email protected]
@johnhobotWF

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