CRA Podcast Episode: The Power of Diversity in Community Development

This episode interviews Jenny Flores, who leads the Wells Fargo Foundation as their Head of Small Business Growth Philanthropy. Jenny joins me in a community development conversation and Wells Fargo’s commitment to diversity, equity and inclusion in their programs supporting small business.  This episode highlights the power of diversity, equity and inclusion in our collective community development work. 

Jenny Flores, Head of Small Business Growth Philanthropy

Jenny Flores is Head of Small Business Growth Philanthropy for the Wells Fargo Foundation, one of the largest corporate foundations in the U.S. In 2018, the Wells Fargo Foundation donated $444 million to accelerate economic opportunity and success in underserved communities with a strategic focus on housing affordability, small business growth, and financial health.

With more than two decades of experience in philanthropy, employee engagement, and corporate citizenship, Flores is responsible for combining financial resources with business expertise to help underserved and diverse entrepreneurs expand their impact on the economy and ability to provide jobs. Most recently, she served as Head of Community Affairs and Corporate Social Responsibility at Bank of the West, where she led the company’s strategy for small business engagement and impact, including the creation of a new $30 million investment fund with community development financial institutions. Prior to her role with Bank of the West, Flores spent a decade in community development at Citigroup and also held roles at the Congress of California Seniors, Greenlining Institute, and the California State Legislature.

An active community leader, Flores is based in San Francisco and serves on the Board of Directors for the Ocean Conservancy and volunteers as a mentor for start-up entrepreneurs through the Nasdaq Entrepreneurial Center’s Milestone Maker program.

She received a bachelor’s degree in Political Science from the University of California–Berkeley and an MBA from the FW Olin Graduate School of Business at Babson College in Wellesley, Massachusetts.

Wells Fargo Open for Business: Community Development Financial Institutions (CDFIs) Program

https://www08.wellsfargomedia.com/assets/pdf/about/corporate-responsibility/open-for-business-fund.pdf

Wells Fargo will donate processing fees generated from the Paycheck Protection Program (PPP) to support nonprofits, including Community Development Financial Institutions (CDFIs), helping small businesses recover from the economic, health and social crises of 2020. We anticipate awarding approximately $250 million in grants to CDFIs, CDFI intermediaries and special‐purpose funds formed by CDFIs for rapid response to small business. The size of grants will depend on an organization’s capacity, geographic scope and alignment with the program selection criteria as provided below. Grants, generally ranging from $250,000 up to $5,000,000 will be awarded.

As the CEO of Wells Fargo, I can commit that our company will do all we can to support our diverse communities and foster a company culture that deeply values and respects diversity and inclusion. …I firmly believe a diversity of insights and perspectives will drive Wells Fargo to the best ideas and outcomes possible. Part of our journey is about being able to listen to the experiences of others and having honest, open dialogue across differences.    ~Charlie Scharf 

Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $1.97 trillion in assets. Wells Fargo’s vision is to satisfy our customers’ financial needs and help them succeed financially. News, insights, and perspectives from Wells Fargo are also available at Wells Fargo Stories. https://stories.wf.com/