Wells Fargo Grant Check Photo

SACRAMENTO – Wells Fargo & Company (NYSE: WFC) donated $50,000 to Nehemiah Community Reinvestment Fund (NCRF), headquartered in Sacramento, CA, as part of a $6 million effort with 69 neighborhood stabilization grants awarded to nonprofits through its 2015 Wells Fargo Housing Foundation Priority Markets Program. The Priority Markets Program provides grants to support large-scale neighborhood revitalization projects to further economic recovery in local communities. Since 2009, the program has provided grants totaling more than $36 million for nonprofits in 125 U.S. communities.

“We were pleased to receive this generous grant to further our impact in the Sacramento Region,” said Scott Syphax, NCRF Chairman & CEO. “This partnership is just one of the many avenues that Wells Fargo has exercised to demonstrate their ability to balance innovative community development strategies and the need for immediate impact. We used the grant funds to renovate a foreclosed property located in north Sacramento that had been vandalized and was boarded up, contributing to neighborhood blight. We are under contract to sell this beautifully renovated property to a low-income family of five, who are buying it as their first home. Once the sale is complete, the grant funds will be recycled to provide additional homeownership opportunities to low income families in the Sacramento area.”

Nehemiah Community Reinvestment Fund, is actively involved and experienced in community revitalization efforts through its Neighborhood Restoration and Roofs for Troops Programs and was identified by Wells Fargo as leading large-scale neighborhood restoration projects. Priority Markets program grants can be used for any costs associated with the development or redevelopment of a project. Recipients must be IRS 501c3 organizations with successful histories of building or renovating housing for low-to moderate-income homebuyers.
“Wells Fargo is pleased to support these nonprofits that are leading efforts to revitalize and position neighborhoods for long-term success,” said Martin Sundquist, executive director of the Wells Fargo Housing Foundation. “The Priority Markets Program is one of thousands of ways we work together with nonprofits to support local communities.”
Since 2009, the Priority Markets grant program, funded through the Wells Fargo Housing Foundation, has provided more than $36 million to 125 communities. The Priority Markets Program grants are administered through the Wells Fargo Housing Foundation.

In 2014, the Wells Fargo Housing Foundation donated nearly $20 million in support of affordable housing initiatives serving low-and moderate-income households – including for seniors, veterans, and families – through neighborhood stabilization and community revitalization efforts. Since its inception in 1993, the Wells Fargo Housing Foundation has invested more than $150 million to such efforts, along with mobilizing more than 4.6 million team member volunteer hours to build and rehabilitate more than 5,500 homes and counting.

Nehemiah Community Reinvestment Fund is a non-profit Treasury certified Community Development Financial Institution (CDFI), founded in 1995. Our Mission is to provide capital and technical assistance to organizations working to revitalize low-income neighborhoods, and to provide housing, services and jobs to underserved people throughout the United States.