Wells Fargo to Donate $1 Billion to Affordable Housing and Homelessness Across America

October 23, 2019                                        By: Good News Network

In June, Wells Fargo announced a new philanthropic strategy that will address the key issues of housing affordability and small business revitalization with one billion dollars in grants and support.

The bank that serves one in three households in the United States said it is committing $1 billion over the next six years to support nonprofits and private entities that demonstrate ability to create positive outcomes in homelessness, available and affordable rentals, transitional housing and home ownership.

Last year, the Wells Fargo Foundation donated $444 million to more than 11,000 nonprofits to help address economic and social needs in underserved communities—and yesterday it announced $9 million in grants to more than 60 nonprofits, such as Habitat For Humanity and Covenant House, in support of housing affordability solutions. (See the full list below)

Bringing more than 30 years of experience in public and private philanthropy, Brandee McHale stepped in to take over the helm at the Foundation in August, after being the head of Corporate Citizenship at Citigroup. and president of the Citi Foundation, and previously working at the Ford Foundation.

To address challenges in construction, financing, and support services for low- and moderate-income families, the elderly and the homeless, Wells Fargo hopes to ease the cost burden for housing across the country, “from Alaska to Florida.”..............Read More