Fahe has received a $300,000 grant from the Wells Fargo Foundation that will support housing stability across Central Appalachia. This funding is critical as we address the ongoing impact of the COVID-19 pandemic, especially on housing and employment. The funding assists efforts to bring investments that address not only the short-term impact, but also the future economic consequences.
The award to Fahe was part of a larger $175M commitment from Wells Fargo Foundation to assist communities impacted by COVID-19. The recipients include other CDFIs from around the country, who along with Fahe, make up the steering committee for the Partners for Rural Transformation, a national coalition working across geographies and cultures to eliminate persistent poverty. These CDFIs each receiving $300,000 grants from the Wells Fargo Foundation include:
“Fahe welcomes the Wells Fargo Foundation’s philanthropic support and shared vision of a country where persistent poverty no longer exists,” said Fahe President and CEO Jim King. “We will continue to work collectively to influence policy and simultaneously lead, advocate, innovate, and finance individual and community solutions to poverty so our neighbors can build sustainable and promising futures, especially during the trying times of COVID-19.”
The Wells Fargo Foundation has a strategic focus on addressing housing affordability, small business growth, and financial health and includes a $1 billion philanthropic commitment to address housing affordability solutions by 2025. As part of its $175 million response to COVID-19, the Wells Fargo Foundation has provided more than 1,200 grants in support of nonprofits to help keep more than 100,000 homeowners and renters housed.
You can read the Wells Fargo Foundation’s announcement to learn more about the organization’s commitment to serving persistent poverty areas.