Dave Donates $1 Million to Los Angeles Regional Food Bank to Support Community Recovery Efforts
Dave continues long-standing commitment to charitable giving, surpassing $21 million in lifetime contributions.
LOS ANGELES, April 16, 2025 /PRNewswire/ -- Dave Inc. ('Dave' or the 'Company') (Nasdaq: DAVE), one of the nation's leading neobanks, today announced a $1 million donation to the Los Angeles Regional Food Bank to support community recovery efforts following the recent natural disasters which affected the greater Los Angeles area.
This donation was made pursuant to Dave's long-standing partnership with Feeding America®, through which the Company has contributed more than $21 million over the past five years to help address food insecurity nationwide. These contributions were member-funded through the Company's optional tipping experience which has been sunsetted as of February 19, 2025. Despite this change, the Company remains committed to giving back to charitable causes.
'Dave was founded in Los Angeles and we are honored to be able to help families facing hunger so close to home. Giving back has been in the Company's DNA since inception and we are committed to supporting causes aligned to our mission,' said Jason Wilk, Founder and CEO of Dave.
'We are deeply grateful for this extraordinary support from Dave,' said Michael Flood, President and CEO, Los Angeles Regional Food Bank. 'In the wake of recent natural disasters, this $1 million donation will provide critical nourishment to our neighbors who need it most.'
About Dave
Dave (Nasdaq: DAVE) is a leading U.S. neobank and fintech pioneer serving millions of everyday Americans. Dave uses disruptive technologies to provide best-in-class banking services at a fraction of the price of incumbents. For more information about the company, visit: www.dave.com. For investor information and updates, visit: investors.dave.com and follow @ davebanking on X.
About the Los Angeles Regional Food Bank
The Los Angeles Regional Food Bank (the 'Food Bank') has been mobilizing resources to fight hunger in Los Angeles County for over 50 years. To support the Food Bank's vision that no one goes hungry in Los Angeles County, food and grocery products are distributed through a network of partner agencies and other Food Bank programs. The Food Bank also energizes the community to get involved and support hunger relief, especially through volunteerism, and conducts nutrition education campaigns and advocates for public policies that benefit people served and improve nutrition security. The Food Bank is rated at the highest level by Candid and Charity Navigator, and 96% of all revenue goes to programs. For more information, visit LAFoodBank.org.
About Feeding America
Feeding America is committed to an America where no one is hungry. Feeding America supports tens of millions of people who experience food insecurity to get the food and resources they say they need to thrive as part of a nationwide network of food banks, statewide food bank associations, food pantries and meal programs. Feeding America also invests in innovative solutions to increase equitable access to nutritious food, advocate for legislation that improves food security and work to address factors that impact food security, such as health, cost of living, and employment. Feeding America partners with people experiencing food insecurity, policymakers, organizations, and supporters, united with them in a movement to end hunger. Visit www.FeedingAmerica.org to learn more.
Forward-Looking Statements
This press release includes forward-looking statements, which are subject to the 'safe harbor' provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as 'feels,' 'believes,' 'expects,' 'estimates,' 'projects,' 'intends,' 'remains,' 'committed,' 'should,' 'will,' 'is to be,' or the negative of such terms, or other comparable terminology and include, among other things, statements relating to Dave's future charitable giving, and any other statements about future events. Such forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties, which could cause actual results to differ materially from the forward-looking statements contained herein due to many factors, including, but not limited to: the ability of Dave to compete in its highly competitive industry; the ability of Dave to keep pace with the rapid technological developments in its industry and the larger financial services industry; the ability of Dave to manage risks associated with providing ExtraCash; the ability of Dave to retain its current Members, acquire new Members and sell additional functionality and services to its Members; the ability of Dave to protect intellectual property and trade secrets; the ability of Dave to maintain the integrity of its confidential information and information systems or comply with applicable privacy and data security requirements and regulations; the reliance by Dave on a single bank partner; the ability of Dave to maintain or secure current and future key banking relationships and other third-party service providers, including its ability to comply with applicable requirements of such third parties; the ability of Dave to comply with extensive and evolving laws and regulations applicable to its business; changes in applicable laws or regulations and extensive and evolving government regulations that impact operations and business; the ability to attract or maintain a qualified workforce; the level of product service failures that could lead Members to use competitors' services; investigations, claims, disputes, enforcement actions, litigation and/or other regulatory or legal proceedings, including the Department of Justice's lawsuit against Dave; the ability to maintain the listing of Dave Class A Common Stock on The Nasdaq Stock Market; the possibility that Dave may be adversely affected by other economic factors, including fluctuating interest rates, and business, and/or competitive factors; and other risks and uncertainties discussed in Dave's Annual Report on Form 10-K filed with the Securities and Exchange Commission (the 'SEC') on March 4, 2025 and subsequent Quarterly Reports on Form 10-Q under the heading 'Risk Factors,' filed with the SEC and other reports and documents Dave files from time to time with the SEC. Any forward-looking statements speak only as of the date on which they are made, and Dave undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.
Investor Relations Contact
Sean Mansouri, CFA
Elevate IR
[email protected]
Media Contact
Dan Ury
[email protected]
View original content: https://www.prnewswire.com/news-releases/dave-donates-1-million-to-los-angeles-regional-food-bank-to-support-community-recovery-efforts-302430192.html
SOURCE Dave Inc.
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