Wachovia exec says no changes for foundation - Atlanta Business Chronicle:

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gave out $96.9 million in contributionws in 2007 and had assetsof $314.r5 million, according to its most recent tax return. “I don’yt think the merger in and of itself will have any effectyat all,” said Jeromw Byers, Atlanta regional president for retail banking. “Outr point of view from Wellsx Fargo and Wachovia is to rely on local We won’t change through the integration.” Byers said that the foundatioh made grants to more than 400 nonprofits in metrlo Atlanta last year. It has pledgesd $1 million for the constructioh of the Center for Civil and Human Rightsz and is committed to give a totaolof $500,000 to the through 2015.
Some granta through Wachovia’s matching gifts program were as smallas $25 in 2008. Byers said he has had conversations with his superior s to addressthe situation. “Wachovia has a foundation here in Atlant a and we will make the decisions and honorour commitments,” Byers said. In an April 8 press release, Wells Fargo reported that it increase d its philanthropic giving by 5 percentto $226 million despitw the downturn in the economy. Most of the foundation’ s donations are controlled locally and Byers said that in that regardxWells Fargo’s philosophy is the same as Wachovia’s.
The bank s announced the mergerin October, but becausew of their size the integration will take years. In the shoryt term, local groups have even less to worry King McGlaughon, the managing executivee of Wachovia nonprofit and philanthropic services, who is baser in Winston-Salem, said prior to visitingh Atlanta for a bank-sponsored foundation summit that he expects no change s to take place in 2009. He addedr that his impression is that integration would not occur before the endof 2010. Other recent giftxs and pledges from the WachoviaFoundationn include: $400,000 to the -Columbus, Ga., brancnh on July 1; $10,000 to the on Aug. 10; $100,000 to the on Oct.
1, and anotheer $100,000 the following year on the same and $20,000 to on June 1, 2010, and June 1, 2011. Byers said Wachovia’s strategy focuses on community development and will continue todo so. That includes everythin from personal financial counseling to the arts to educatio n to health andhuman services. “Wwe have given money to the major school boards Byers said. “We will continue to be involved there. We are lookinbg at places for significant relationships with Wachoviq like Teachfor America.
“Education is a big way to give