Wells Fargo & Co. continues its dedication to philanthropic efforts.
A spokesperson for the financial services company said that it donated $4.5 million to Iowa-based nonprofits, schools and community organizations in 2017 via corporate and foundation giving. In addition, 16,000 Iowa team members contributed $5.1 million. As a result, Wells Fargo gave a total of $9.6 million to organizations within the state.
As the spokesperson put it: “That amounts to an average daily donation of $26,300.” What’s more, the spokesperson added, team members in Iowa dedicated 210,000 volunteer hours to institutions of this type.
The Independent Sector — a U.S. coalition of philanthropic organizations — estimates the value of a single volunteer hour at $24.12. At 210,000 hours, the value of the firm’s team members’ volunteer work in Iowa last year was thus over an additional $5 million, explained the spokesperson.
Marta Codina, Wells Fargo regional bank president for Western Iowa, elaborated on why these hours mattered. “Those 210,000 volunteer hours [our team members] logged last year were instrumental in helping countless nonprofits carry out their important work as they strive to provide vital services to people in our state, empowering change for the better in our communities,” she said.
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Wells Fargo continues to be a critical service provider to the footwear industry, boasting retail industry expertise and offering a variety of services for retailers.
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