The Wells Fargo Foundation will deliver $9 million through the remainder of 2020 to bolster COVID-19 relief efforts in Los Angeles County. More than 170 nonprofits will receive grant funding to help address housing needs and homelessness, support small businesses, and provide emergency response aid for the region’s most impacted populations.
“Given the magnitude of the crisis and incredible need, the response has been unprecedented,” said Gregg Sherkin, community relations senior manager at Wells Fargo, who explained that the majority of the grants are being given to nonprofits which had previously established relationships with the bank. “There is a little bit of funding left and we’re in the process of trying to determine what the current needs of the community are. We obviously can’t make any guarantees to organizations, but are certainly able to see how we can support them.”
Sherkin said that Wells Fargo has assisted in relief efforts through a variety of ways, not just financial support, and he invited others to reach out to his office team to inquire about additional resources.
“It’s obviously a priority to Wells Fargo Bank, as we recognize our responsibility to support our community at this time,” Sherkin said. “We have been the largest corporate funder in the greater LA area for the past 10 years and we have always tried to support all the communities throughout LA County, particularly the low income and under-resourced communities.”
Sherkin shared that the bank’s relief efforts have gone beyond mere funding to include partnering with the Vermont Slauson Economic Development Corporation and using financial expertise to help families stay in their homes and put food on the table.
Additionally, Wells Fargo staff frequently volunteer to provide direct outreach services throughout the county.
“That’s one thing our company is really, really proud of: how our team members want to support the community,” Sherkin said. “It’s one thing to give financially, but to give your time is really valuable.”
As part of Wells Fargo’s $175 million national COVID-19 philanthropic strategy, charitable donations will be allocated through expedited grant making and anchored around three focus areas: housing affordability, small business growth, and financial health.
“During this pandemic, we need to be at the forefront providing support and resources to underserved communities across Los Angeles County,” said Sherkin. “It is imperative that we support our local community organizations, especially those serving minority communities who have been disproportionately impacted, to provide assistance to our small businesses, to ensure that Angelenos are housed, and to provide critical human services.”
Wells Fargo awarded grants to benefit local organizations that support frontline healthcare workers, food and emergency services, and other vital community relief efforts, such as Martin Luther King Jr. Community Hospital, AltaMed, American Red Cross, Charles R. Drew University, Project Angel Food, and more.
With the help of the Big Sunday organization, more than 2,200 breakfasts and 600 dinners from local restaurants were delivered to MLK hospital staff.
“We love the work Martin Luther King hospital is doing and Dr. Batchlor is amazing” Sherkin said. “And we’re really proud of the support we are able to provide. We want to be part of this and continue to stay in contact with the Watts-Willowbrook community.”
The bank supported Charles Drew University, providing funding so they could shift their classes to online formats.
“They had to update their IT equipment so that they would be able to continue to offer learning to their students,” Sherkin said. “They’ve also been serving as a testing facility and we support that effort as well.”
Wells Fargo also supported City of Los Angeles Mayor Eric Garcetti’s Angeleno Campaign with $250,000 to provide direct relief funds to families in need.
“Given the magnitude of this COVID-19 crisis, we’ve had to basically restructure and refocus grantmaking across the country,” Sherkin said. “We prioritize communities that need help the most. Not only offering financial support but also expertise. We want to help housing and homeless serving agencies and help small business owners navigate through this.”
