Wells Fargo Donates $400,000 for Housing and Revitalization Efforts in Sacramento
Wells Fargo & Company (NYSE: WFC) today announced $400,000 in donations to five local nonprofits to support housing and neighborhood revitalization for Sacramento residents.
"The NeighborhoodLIFT program is another example of our commitment to Sacramento and our efforts to bring forward housing affordability solutions to communities across the U.S.," said Kevin Barri, Wells Fargo's region president for Sacramento. "The program will help hardworking families and individuals get on the path to successfully becoming homeowners."
The grants are funded by the Wells Fargo Foundation and follows Wells Fargo's announcement in June of an evolution in the company's philanthropic strategy that includes a $1 billion commitment over the next six years to address the U.S. housing affordability crisis.
NeighborhoodLIFT local initiative grants will be awarded to the following local nonprofits:
- NeighborWorks® HomeOwnership Center Sacramento Region has received $100,000 for its Community Empowerment and Development Project, a community-driven process that will stimulate homeownership, neighborhood development and beautification. This grant will support community and leadership engagement activities in Del Paso Heights, a community in Sacramento seeking to build a stronger community through resident leadership, homeownership education, and access to affordable homes.
- Habitat for Humanity of Greater Sacramento has received $100,000 for its Neighborhood Revitalization Program, which focuses on revitalizing the community and removing barriers to affordable housing in the highest need areas of Sacramento and West Sacramento. This will be accomplished through new home building projects, critical home repairs, beautification and neighborhood transformation events known as Rock the Block.
- Sierra Service Project has received $50,000 for its North Sacramento Home Repair Program, which will provide free home repairs to low-income and elderly residents of North Sacramento and Del Paso Heights so they can safely age in place.
- Women's Empowerment has received $50,000 for the construction of transitional workforce housing for homeless women and their families. In addition to a place to stay, Women's Empowerment offers various job training programs and health and social services specifically targeting the barriers faced by homeless women.
Wells Fargo donates a $100,000 "LIFT the Block" grant and volunteer support to fund HomeAID
As part of the Sacramento NeighborhoodLIFT program, Wells Fargo will also donate a $100,000 "LIFT the Block" grant to HomeAID's Building HOPE project. This initiative will fund four local non-profit projects: Women's Empowerment will receive architectural and engineering support developing 34 low rent housing units, Assist Neighborhood Wellness Foundation will be provided with asphalt resurfacing and storage building, Volunteers of America will be receive a security fence, and WEAVE, Inc. will be undergoing property repairs and safety additions.
More than 550 homeowners created in Sacramento through LIFT programs
The Sacramento NeighborhoodLIFT program local initiative grants are part of a $13 million philanthropic investment by Wells Fargo ? first announced in 2012 and expanded in 2019 to boost local homeownership and revitalize neighborhoods. A collaboration with NeighborWorks® America and NeighborWorks HomeOwnership Center Sacramento Region, the NeighborhoodLIFT program has created more than 550 homeowners in Sacramento County and the city of West Sacramento by offering homebuyer education plus down payment assistance grants.
In the wake of the housing crisis, Wells Fargo came together with NeighborWorks America to develop the NeighborhoodLIFT program in 2012. It has been introduced in 74 communities across the U.S. and is the single largest corporate philanthropic effort in Wells Fargo's history, with a $475 million investment. LIFT programs have created nearly 22,000 homeowners by offering homebuyer education plus home down payments assistance grants. A video about the NeighborhoodLIFT program is posted on Wells Fargo Stories.
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 7,700 locations, more than 13,000 ATMs, and the internet (wellsfargo.com). With approximately 262,000 team members, Wells Fargo serves one in three households in the United States. With its corporate philanthropy, Wells Fargo aims to pave a path to stability and financial success for underserved communities by focusing on housing affordability, small business growth, and financial health, among other local community needs. In 2018, Wells Fargo donated $444 million to nearly 11,000 nonprofits. 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 actively support communities by donating more than 2 million hours of volunteer time in the last year. News, insights and more information on the company's overall corporate responsibility are available at Wells Fargo Stories and www.wellsfargo.com/impact.
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