Wells Fargo Donates $500,000 for Philadelphia Revitalization Efforts

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Wells Fargo Donates $500,000 for Philadelphia Revitalization Efforts

Local NeighborhoodLIFT® grants address community revitalization, workforce development, youth programs, neighborhood beautification and homeownership for Philadelphia
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Five #Philly nonprofits share $500,000 in #NeighborhoodLIFT #grants, courtesy of #WellsFargo http://bit.ly/2eliqMz
Thursday, October 20, 2016 - 9:15am

CONTENT: Press Release

PHILADELPHIA, Oct. 20, 2016 /3BL Media/ – Wells Fargo & Company (NYSE: WFC) today announced a total of $500,000 in donations for five local nonprofits will help revitalize Philadelphia neighborhoods through the Wells Fargo NeighborhoodLIFT® program.

The local grant recipients were identified in collaboration with the City of Philadelphia and Hon. Mayor Jim Kenney. The Wells Fargo Foundation is providing grants to the following Philadelphia nonprofits:

  • Diversified Community Services – $100,000 grant for small business economic development, workforce development, and jobs programs.

  • Mt. Airy USA – $100,000 grant for small business economic development, workforce development, jobs programs, and neighborhood beautification.

  • Nueva Esperanza – $100,000 grant for neighborhood beautification.

  • Philadelphia Youth Network – $100,000 grant for youth development programs.

  • Urban Affairs Council – $100,000 grant for arts and neighborhood beautification.

The grants are funded through Wells Fargo’s NeighborhoodLIFT® program that was expanded in 2016 for Philadelphia homebuyers with a $5 million commitment by Wells Fargo to boost local homeownership and revitalize neighborhoods.  The 2016 NeighborhoodLIFT program follows the CityLIFT program, introduced in 2012 for Philadelphia, that combined have created more than 765 homeowners by offering homebuyer education and down payment assistance grants.

Wells Fargo is collaborating with the City of Philadelphia, national nonprofit NeighborWorks America, and its local affiliate, New Kensington CDC, to implement the program. NeighborhoodLIFT program down payment assistance grants may still be available for eligible homebuyers in coordination with New Kensington CDC.

The Wells Fargo NeighborhoodLIFT local initiative grants for Philadelphia will provide support for neighborhood revitalization, workforce development, youth programs, and neighborhood beautification.

“Wells Fargo cares about our communities and we are making these investments to continue the revitalization effort to strengthen Philadelphia,” Michelle Newman-Lawrence, Wells Fargo area president for Philadelphia. “These nonprofits are actively leading efforts to help stabilize housing, create jobs and provide youth education programs, improve neighborhoods and we believe these grants will add up to make a big impact.”

About NeighborhoodLIFT

NeighborhoodLIFT® program is the single largest corporate philanthropic effort of its kind in Wells Fargo’s history. Since February 2012, LIFT programs combined have helped create more than 12,300 homeowners in 47 communities. A video about LIFT programs is posted on Wells Fargo Stories.

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. Wells Fargo perspectives are also available at Wells Fargo Blogs and Wells Fargo Stories.

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Chris Hammond
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