All qualified contributions to the fund will be matched dollar for dollar, creating a total potential of $1 million to help bring pro bono financial planning and advice to low-income workers and other groups hurt by the COVID-19 pandemic, according to FFP, a nonprofit charitable organization.
Charles Schwab Foundation’s commitment to FFP is part of more than $2 million it has pledged in response to the COVID-19 crisis, following contributions in support of local food banks and community foundations, the CDC Foundation, the Boys & Girls Clubs of America’s Emergency Response Fund and more.
The COVID-19 Financial Resilience Fund will help support a variety of new offerings and programs that FFP developed in response to the crisis, including:
- Emergency grants
- Connecting certified financial planner volunteers to pro bono opportunities
- New programs for high-risk groups
- Relevant training and resources
FFP is curating and posting the most relevant resources for pro bono advisors and clients in its online Coronavirus & Pro Bono Planning Resource Center, including a COVID-19 Financial Resource Guide for planners, as well as conducting a special webinar series on how pro bono advisors can navigate the crisis, it said. Its Pro Bono Financial Planning Volunteer Training is also available for any advisors preparing to volunteer for the first time.
Separately, the Certified Financial Planner Board of Standards said Tuesday that it donated $25,000 to FFP’s COVID-19 Financial Resilience Fund.
Those interested in supporting the COVID-19 Financial Resilience Fund can learn more at FFPprobono.org/COVID-19Fund.
Wells Fargo Expands COVID-19 Initiatives
Wells Fargo & Co. announced additional efforts to help Americans stay in their homes, this time with funding for more than 500 nonprofits across the U.S., as part of the Wells Fargo Foundation’s $175 million commitment to help people and communities in response to COVID-19.
More than 300 grants were already made since March to help nonprofits provide urgent housing services for vulnerable populations, it said.
The COVID-19 relief grants from the Wells Fargo Foundation were intended to help national nonprofit housing intermediaries, local housing counselors and nonprofit housing providers support housing stability for more than 100,000 renters and homeowners facing financial challenges, it said. Strategies include widening the capacity of housing counselors to respond to renters and homeowners, as well as supporting nonprofits that provide affordable rental homes and services.
The most recent COVID-19 housing grants will provide 14 national nonprofit housing intermediaries with grant funding to support counseling and help keep people in stable housing, Wells Fargo said.