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Contact:
Darren Hoffman |
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FOR IMMEDIATE RELEASE
LOS ANGELES REGIONAL FOODBANK RECEIVES $10,000 FROM WELLS FARGO IN RESPONSE TO DRAMATIC INCREASE IN FAMILIES SEEKING FIRST-TIME FOOD ASSISTANCE
LOS ANGELES, August 14, 2008 – The Los Angeles Regional Foodbank received a donation of $10,000 from Wells Fargo in response to increasing demand for food assistance in Los Angeles County.
“On behalf of all the agencies we serve I’d like to extend our gratitude to Wells Fargo,” said Michael Flood, president and CEO of the Los Angeles Regional Foodbank. “With the enormous increase in the cost of living over the last six months, these funds are truly needed to keep the food flowing through the Foodbank. In my 18 years of working at food banks, this is by far the most drastic, across the board, increase in demand for emergency food assistance I’ve ever seen.”
In 2007, Wells Fargo awarded 1,281 grants totaling $10.5 million to non-profit organizations and schools in Greater Los Angeles. Nationally, the company contributed more than $91.8 million to more than 14,000 non-profit organizations and schools. It was the sixth consecutive year Wells Fargo donated more than $10 million to Los Angeles-area nonprofits. Last year, the Los Angeles Business Journal ranked Wells Fargo the top corporate donor to charitable organizations in Los Angeles County. "With demand soaring and donations declining, our local food banks are in desperate need of support,” said Shelley Freeman, Wells Fargo Los Angeles Metropolitan regional president. “Wells Fargo is encouraging corporate leaders in Greater Los Angeles to donate time and money to the regional food banks to see them through this crisis." Wells Fargo & Company is a diversified financial services company with $609 billion in assets, providing banking, insurance, investments, mortgage and consumer finance through almost 6,000 stores and the internet (wellsfargo.com) across North America and elsewhere internationally. Wells Fargo Bank, N.A. is the only bank in the U.S., and one of only two banks worldwide, to have the highest possible credit rating from both Moody’s Investors Service, “AAA,” and Standard & Poor’s Ratings Services, “AAA.”
The Los Angeles Regional Foodbank is a non-profit, charitable organization established in 1973 and is one of the largest food banks in the United States. Through a network of nearly 900 charitable agency sites, the Foodbank supplies enough food for over 500,000 meals each week in Los Angeles County. The Foodbank is affiliated with America’s Second Harvest, the Nation’s Food Bank Network. For more information, visit www.lafoodbank.org.
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1734 E. 41st Street, Los Angeles, California 90058-1502 * Tel (323) 234-3030 * FAX (323) 234-0943 * www.lafoodbank.org |
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A Member of America's Second Harvest - The Nation's Food Bank Network |
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