Hurricane Harvey was a devastating hurricane that flooded areas across the United States where families lost their property, their lives and their pets. During this trying time, a Dallas company called Stream Energy took the liberty to be the first company to fund the recovery program. The company pulled it off because it was running a successful energy sales business and corporate philanthropy is also part of the business.
Stream Energy launched ‘Stream Cares,’ a charity foundation that propagates the company’s philanthropy efforts in Texas and the rest of the US. In the case of Hurrican Harvey, Stream Energy positioned itself as an example of a Dallas company that leverages philanthropy and charity as part of their brand and giving back to the society.
It is new for a business to launch a separate arm of philanthropy. In this advantage, the company is giving back while earning the loyalty and respect of its customers and the public. Corporate giving is a high profile and highly publicized activity that is altruistic. But on the other hand, it can be seen as a buffer when profits fall, scandals hit, and when the company is struggling to stand on its feet.
Statistically, corporate America is generous because, in 2016, approximately $19 billion was given to several charities all over the world; that does not include corporate sponsorship, marketing of the cause, and various kinds of donations, e.g. time, effort, and money offered by individual employees.
For Stream Energy, that has formed a long-lasting relationship with the Red Cross and Habitat for Humanity, corporate leadership and employees also give locally. Stream has also partnered with Operation Once in a Lifetime to provide financial and moral support to the veterans and their families who live in Dallas.
Instead of the company writing cheques, transportation was donated by Stream for the less fortunate veterans so that they could enjoy a meal of steaks, burgers, and ribs at the Texas restaurant. Stream also offered their support to ten young girls who picked an American Girl doll, and a meal at the Americal Girl Cafe which was catered by the company.