Wells Fargo donates to nonprofits
The Wells Fargo Foundation has awarded grants totaling $515,000 to 25 Iowa nonprofits in the last few weeks to support the community response to the COVID-19 pandemic.
The funding will help deliver critical relief to assist the most vulnerable in the community as well as small businesses. Enterprise-wide, Wells Fargo has committed to donate $175 million this year to support the domestic and global COVID-19 response.
Included among Wells Fargo’s various pandemic-related philanthropic grants made thus far in Iowa are:
• $150,000 to the Institute for Community Alliances, which is providing the first-ever statewide rental assistance to help get individuals out of homeless shelters across the state. At the time of the award, more than 1,100 Iowans resided in shelters, where the risk of spreading coronavirus is great. Wells Fargo’s grant is expected to pay for the first month’s rent for as much as 10 percent of the state’s homeless shelter residents.
• $225,000 for small business assistance relief efforts. That total includes individual grants of $75,000 to the Iowa Center for Economic Success, $50,000 to Iowa Community Capital and $50,000 to the Director’s Council and Financial Empowerment Center’s Small Business Relief Fund.
• $100,000 to disaster funds managed by community foundations in metro Des Moines, Sioux City, Crawford County, Cedar Rapids/Iowa City, Waterloo/Cedar Falls and the Quad Cities.
“It’s important in times of community need that we work together, and Wells Fargo is doing that with our contributions to date in Iowa and through the $175 million we have committed companywide to COVID-19 relief efforts this year,” said Region Bank President Marta Codina. “We’re grateful for the leadership of local nonprofits who are mobilizing to address the enormous needs in our state created by this pandemic. We hope our support provides a measure of relief as we stand with both the local community as well as our global community during this challenging time.”