WSFS CARES Foundation Granted More Than $2 Million in Charitable Contributions in 2021

Rhea-AI Summary

WSFS Bank's CARES Foundation donated over $2 million in grants to 349 organizations across Delaware, New Jersey, and Pennsylvania in 2021. This philanthropic effort aims to enhance community opportunities through several key areas: community investments, affordable housing, and education. Notable beneficiaries include organizations like Good Neighbors Home Repair and UrbanPromise, emphasizing the Foundation's commitment to community support and development. WSFS Bank, founded in 1832, continues its legacy as a leading financial institution in the region.

Positive

• Donated over $2 million to 349 organizations, demonstrating strong community support.
• Focus on key pillars such as education, affordable housing, and revitalization.
• Partnership with notable nonprofits supports local community empowerment and development.

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• None.

WILMINGTON, Del., Jan. 26, 2022 (GLOBE NEWSWIRE) -- The WSFS CARES Foundation, the charitable giving arm of WSFS Bank (Nasdaq: WSFS), announced it provided grants and donations totaling $2,062,466.67 to 349 organizations located across Delaware, New Jersey and Pennsylvania in 2021.

“For nearly 200 years, WSFS has worked tirelessly to enrich our communities through our philanthropic efforts, personal commitment to service, and intentional desire to assist those in need and lead to a better life,” said Vernita Dorsey, Senior Vice President, Director of Community Strategy at WSFS. “The focus of the WSFS CARES Foundation is to help create a world in which all of our community members are given an equal opportunity to succeed, and we’re proud to have partnered with more than 300 worthy nonprofits to work toward that goal.”

The WSFS CARES Foundation was formed in 2021 through the combination of the WSFS Foundation, the philanthropic arm of WSFS Financial Corporation, and the WSFS Community Foundation, which was previously the Beneficial Bank Foundation. The combination of these two foundations enabled WSFS to provide even greater support to the community, with the WSFS CARES Foundation’s key pillars of support focused on:

• Community investments
• Affordable housing
• Revitalization and business economic empowerment
• Education and leadership development
• Strengthening those in need
  

Among the organizations the WSFS CARES Foundation supports is Good Neighbors Home Repair, which focuses on restoring hope and dignity to qualified low-income homeowners in Chester County, Pa. and New Castle County, Del. by repairing their homes free of charge.

“WSFS has been a regular and strong supporter for nearly 10 years,” said Harold Naylor, Executive Director at Good Neighbors Home Repair. “We get advice and counsel from Vernita, the Bank has been a major financial donor, and Paul Greenplate, WSFS’ Executive Vice President of Enterprise Risk Management, serves as our Treasurer. We have been fortunate to host Team WSFS for volunteer events, and WSFS has been a leader in our corporate workdays called Hands of Hope.”

Through its education and leadership development and community investment pillars, the WSFS CARES Foundation supports organizations like the Ertz Family Foundation in its mission to empower others by sharing faith, learning through sports, and advancing education to build supportive communities.

“We are so thankful for the incredible support of the WSFS CARES Foundation,” said Lisa Ertz, Executive Director, Ertz Family Foundation. “Without their generosity and partnership, we wouldn’t have been able to close out our GRACE and PEACE COMMUNITY FELLOWSHIP House of Hope Capital Campaign in 2021 and turn to focusing on future programming. We would not be able to make such a transformational and generational change for North Philadelphia’s kids and families without companies like WSFS who believe in our mission.”

The WSFS CARES Foundation has also been a supporter of UrbanPromise (UPM) in Camden, N.J., which works to equip children and young adults with the skills necessary for academic achievement, life management, spiritual growth and leadership.

“WSFS has blessed the UrbanPromise community through support in funding with grants and volunteering for our Make a Difference Service Weeks,” said Pamela Foxx, Chief People Officer at UPM. “WSFS provides banking business support and in 2021 its Associates transformed our campus butterfly mascot garden into a beautiful safe place where our young people can flourish. Words cannot express our gratitude for how WSFS honors the UrbanPromise vision and mission.”

WSFS has also been a strong supporter of organizations like The WRK Group in Wilmington, which brings together a collection of three nonprofits – The Warehouse, REACH Riverside, and Kingswood Community Center – working in unison to make a major impact and empower the most impoverished neighborhood in Wilmington.

“We were fortunate to receive a large contribution from WSFS in 2018, which provided us with the enterprise capital needed to plan and scale The Warehouse to what it has turned into three years later,” said Logan S. Herring, Sr., Chief Executive Officer of The WRK Group. “WSFS’ support also established credibility amongst other investors, and since then, we have raised almost $35 million toward our goal of $55 million in our capital campaign, allowing us to bring much needed resources to a community that has seen nothing but disinvestment for decades.”

About the WSFS CARES Foundation
The WSFS CARES Foundation brings WSFS’ mission of We Stand for Service® to life across the communities we serve. The mission of the WSFS CARES Foundation is to support qualified nonprofit service organizations within our regional footprint that are invested in improving communities, fostering a spirit of inclusion and diversity, and whose focus aligns with the WSFS CARES Foundation’s transformational vision. For more information, please visit https://www.wsfsbank.com/about-us/community/wsfs-foundation.

About WSFS Financial Corporation
WSFS Financial Corporation is a multi-billion dollar financial services company. Its primary subsidiary, WSFS Bank, is the oldest and largest locally-managed bank and trust company headquartered in Delaware and the Greater Philadelphia region. As of December 31, 2021, WSFS Financial Corporation had $15.8 billion in assets on its balance sheet and $34.6 billion in assets under management and administration. WSFS operates from 112 offices, 89 of which are banking offices, located in Pennsylvania (52), Delaware (42), New Jersey (16), Virginia (1) and Nevada (1) and provides comprehensive financial services including commercial banking, retail banking, cash management and trust and wealth management. Other subsidiaries or divisions include Arrow Land Transfer, Cash Connect^®, Cypress Capital Management, LLC, Christiana Trust Company of Delaware^®, NewLane Finance^®, Powdermill^® Financial Solutions, West Capital Management^®, WSFS Institutional Services^®, WSFS Mortgage^®, and WSFS Wealth^® Investments. Serving the Greater Delaware Valley since 1832, WSFS Bank is one of the ten oldest banks in the United States continuously operating under the same name. For more information, please visit www.wsfsbank.com. 

Media Contact:
Kyle Babcock
(215) 864-1795
kbabcock@wsfsbank.com

FAQ

What was the total donation amount from the WSFS CARES Foundation in 2021?

The WSFS CARES Foundation donated over $2 million in 2021.

How many organizations received support from WSFS Bank's CARES Foundation?

A total of 349 organizations received support.

What are the focus areas of the WSFS CARES Foundation?

The focus areas include community investments, affordable housing, revitalization, education, and leadership development.

Which regions benefited from the WSFS CARES Foundation's contributions?

The contributions benefited organizations in Delaware, New Jersey, and Pennsylvania.

What is the mission of the WSFS CARES Foundation?

The mission is to support nonprofit organizations that improve communities and foster inclusion and diversity.