Wells Fargo Named America's Most Generous Company

July 18,2013

CAP Member, Wells Fargo & Co., gave away more cash than any other large U.S. corporation in 2012, according to a survey conducted by The Chronicle of Philanthropy.

Wells Fargo is metro Atlanta’s second-largest bank with 203 local branches and $22.4 billion in local deposits.

A Forbes report on the study says Wells donated more than $315.8 million in 2012 — that's 1.3 percent of its 2011 pre-tax profits. The giving was distributed to 19,500 nonprofits and schools nationwide. Forbes says Wells giving was up 48 percent from 2011 thanks to a $77 million contribution to NeighborWorks America, an agency that aids first-time home buyers in neighborhoods most affected by the housing crisis.

“Wells Fargo has always been committed to the communities it serves. It is core to our vision and values,” says Tim Hanlon, head of Philanthropy for Wells Fargo.

“While promoting sustainable homeownership and neighborhood stability was responsible for a large part of our giving in 2012, we actually support a wide array of nonprofits – more than 19,000 – that are dedicated to causes such as the environment, education, community development, arts and culture and many more.”

-Courtesy, Atlanta Business Chronicle