The Wells Fargo Foundation is gifting $9 million to bolster coronavirus relief efforts in Los Angeles County, providing grants to more than 170 local nonprofit organizations, it was announced Tuesday.
Charities will receive the funding this year to help address housing needs and homelessness, support small businesses and provide emergency response aid for the region’s most impacted populations, according to Wells Fargo.
The $9 million dedicated to nonprofits in Los Angeles is part of the foundation’s larger $175 million national COVID-19 philanthropic strategy.
“During this pandemic, we need to be at the forefront providing support and resources to underserved communities across Los Angeles County,” said Gregg Sherkin, community relations senior manager at Wells Fargo.
Wells Fargo, founded in 1852, is headquartered in San Francisco and has more than 7,400 locations that serve an estimated one in three households in the United States, bank representatives said.
The company already has plans for collaborations with local nonprofits including United Way of Greater Los Angeles, PATH, Downtown Women’s Center and California Community Foundation to increase sustainable housing and offer rent payment plans.
“Wells Fargo has been a longstanding supporter of California Community Foundation in providing us the funding needed for addressing our community needs such as housing, health, and hardship services,” California Community Foundation President and CEO Antonia Hernandez said.
Partnerships with El Nido Family Centers, LIFT-LA and Mayor Eric Garcetti’s Angeleno Campaign will provide financial counseling and coaching for families.
Small businesses will find assistance through Wells Fargo’s partnership with the Los Angeles Area Chamber of Commerce and Dr. Lucy Jones Center for Science and Society, as well as the county’s COVID-19 Relief Fund.
Money also is being put toward supporting health and emergency workers through AltaMed, American Red Cross, Big Sunday, Charles R. Drew University, Martin Luther King Jr. Community Hospital, Project Angel Food.
“It is imperative that we support our local community organizations, especially those serving minority communities who have been disproportionally impacted, to provide assistance to our small businesses, to ensure that Angelenos are housed, and to provide critical human services,” Sherkin said.