Breaking Barriers: T.D. Jakes Foundation and Wells Fargo Invest $9 Million in Transformational Community Development Across America

Grant funding part of 10-year strategic partnership between T.D. Jakes Group and Wells Fargo to promote economic advancement nationwide

DALLAS, Feb. 7, 2024 — The T.D. Jakes Foundation (TDJF), in collaboration with Wells Fargo, are creating opportunities for historically underrepresented communities with a philanthropic investment of $9 million in grants to 16 community-based organizations across the United States. This funding is poised to support the creation of financial wellness and innovation centers, help organizations convert underutilized land into affordable homes, and drive impactful change for college students.

In April 2023, T.D. Jakes Group and Wells Fargo announced a 10-year partnership that could result in up to $1 billion in capital and financing to support underserved communities across the United States.

The philanthropy spans across diverse communities, including Black, Brown, and impoverished White populations. The alliance is a resounding commitment to narrowing divides and empowering marginalized communities with tools and resources for generational wealth. The grants are funded through a donor-advised fund managed at the Communities Foundation of Texas on behalf of T.D. Jakes Foundation and Wells Fargo.

“This partnership allows both of our organizations to catalyze change in a myriad of sectors and to help craft better lives for those benefiting from the work of the T.D Jakes Foundation and other community organizations funded by the partnership. While our work is just beginning with Wells Fargo, this is a continuation of our organization’s commitment to providing financial literacy, career development opportunities and financial resources for underserved students and communities,” said T.D. Jakes, CEO of T.D. Jakes Group. “Disruption is the only solution to systemic inequality. Partnerships with impactful and relevant organizations enable us to provide even more opportunities to transform historically marginalized groups and areas across the entire nation.” 

“To create transformational change, we need to collaborate simultaneously across the multitude of issues facing our communities,” said Darlene Goins, head of philanthropy and community impact at Wells Fargo. “With our philanthropic investment, Wells Fargo is aiming to expand the reach of the T.D. Jakes Foundation across housing, small business, and financial health to help tackle the complexities of the wealth gap.”

The 16 community-based organizations represent a combined effort to strengthen the economic, entrepreneurial and cultural infrastructure across America. These grant recipients will use the funds to further financial literacy in Historical Black Colleges and Universities (HBCUs), build career centers and offices, support affordable housing projects and cultivate top-tier careers for college students. 

Organizations receiving grants include: 

Community Foundation of Central Savannah River Area (CFCSRA): $500,000

Fund the introduction and development of a grocer in the Laney Walker neighborhood of Augusta, Georgia

The Dallas Entrepreneurs Center (DEC) : $250,000

Fund the DEC’s Capital Access Resource Center to support underrepresented founders

Enterprise Community Partners: $1,000,000

Invest in Faith-Based Developers’ Initiative to help houses of worship convert underutilized land into affordable homes

Fort McPherson (T.D. Jakes Foundation): $1,500,000

Build T.D. Jakes Foundation office, located within the Fort McPherson development, to provide wraparound services to citizens within Metro Atlanta.

Greenwood Rising Black Wall Street History Center: $25,000

Support Greenwood Rising’s Homecoming event honoring icons of Wall Street and inspiring action needed for financial inclusion

Greenwood Cultural Center: $25,000

Support of Greenwood Cultural Center’s educational programs

HBCU Community Development Action Coalition: $100,000

Further the “Our Money Matters” program for HBCU students

HomeFreeUSA: $1,250,000

Support new technology platform to and develop a housing counseling and financial education program pilot in Dallas, TX and Atlanta, GA

Jackie Robinson Foundation: $1,500,000

Support JRF Impact for broadened support of Black college students

The Milken Institute: $1,000,000

Support the HBCU Fellows Program equipping students with similar access to tools and resources historically afforded only to Ivy League institutions

Operation Hope: $600,000

Develop the functionality of On-Demand Services to connect clients to financial health programs

Paul Quinn College: $150,000

Establish an on-campus Financial Wellness Center for financial health and literacy

Society for Financial Education & Professional Development (SFEPD): $200,000

Support of Seminars & Workshops initiative for HBCUs in Texas

SoLa I CAN FOUNDATION: $250,000

Promote a Career Development Initiative in the South Los Angeles community

Westside Future Fund: $500,000

Support the Cradle to Career Education initiative for next generation Atlantans

Wiley University: $150,000

Establish an on-campus Financial Wellness Center for financial health and literacy

“We have worked at the local and national level to build meaningful partnerships that help us cultivate cultural and economic shifts, and our relationship with Wells Fargo advances what we are aiming to achieve at T.D. Jakes Foundation,” said Kelley Cornish, CEO of T.D. Jakes Foundation. “The grantees will use the funds to arm the next generation of college students with financial literacy and career building skills and will create much needed support for entrepreneurs, homebuyers and the underserved population who have not had access to life-changing and uplifting resources.”