Stream energy: Creating the future of charitable foundations
After the devastating floods and home damage leftover by Hurricane Harvey in Houston Texas and its surrounding areas, one particular company was standing ready to bring aid and comfort to those affected by this horrible storm. Stream Energy in conjunction with its charitable foundation “Stream Cares” was able to not only bring funding to local organizations like the Red Cross and habitat to humanity but provide hundreds of volunteers as well. Stream Energy, an energy provider that offers fix rate plans for customers is using part of their yearly revenue to innovate how corporate foundations are run. For a dozen years now, Stream cares has brought countless aid to communities in the form of funding and outreach initiatives.
Although charitable foundations are not a new concept, Stream Energy has taken it a step further with the creation of a separate branch of the company whose sole focus is to seek ventures in which Stream Energy can involve itself. This new move by Stream Energy does have its perks, corporate philanthropy in the manner in which Stream is conducting it allows a company to grow their brand, so much so that an increase in customer loyalty is dramatically increased as well as the buffer zone that allows companies to have when dealing with internal scandals such as lost revenue.
This is not to say that other companies don’t give back, in fact in 2016 alone over $19 billion dollars were donated to charitable organizations by companies all across the country. However, much of the advantage still lay within the Stream company as their business model allows them to create grassroots relationships. For example, when new employees come on board those individuals are tasked with creating network groups around their community, this, therefore, creates a unique bond with customers and other companies cannot compete with. There is no doubt that Stream and “Stream Cares” will continue to find ways to innovate this are of business, a goal that can only lead to win-win situations for both company and the community alike.