Stream Energy is a company that has kept a philanthropic attitude part of their organization for over a decade. But with so much activity on the charity front the time came when the company could no longer manage it without proper structure. Stream Energy is now announcing the formation of a new foundation, Stream Cares, which will formalize the energy company’s philanthropy in the state of Texas and beyond.
To keep up with where the company is now, Stream Cares will extend its work with other foundations in an effort to address issues of concern to local communities. Charity is rather common for American businesses. Data collected in 2016 found that charitable donations from companies totaled $19 billion. This does not include funds directed at marketing in support of philanthropic causes, sponsorships, or the donations coming directly from employees. But a charitable foundation within a company is uncommon.
In addition to the good work Stream Cares will be capable of, Stream Energy is looking to its foundation to reinforce their public image as a company that actually cares about the quality of life of their present and prospective customers.
Habitat for Humanity and the Red Cross are just a couple of national organizations that Stream Cares has developed a working relationship. While important to have the support of bigger charities, this company is looking to work with grassroots groups, those that excite workers’ interest in giving back to the communities where they live.
In the city of Dallas, homelessness has been a progressively worsening problem. In this city, homelessness has seen a 24% increase and Stream Energy has played a part in helping people off the street.
Hope Supply Co., a charity dedicated to address homelessness in Northern Texas, got together with Stream Cares to host A Splash of Hope. At this event, 1,000 homeless children were invited to a day at a local water park to spend the day with friends and Stream employees. They also received financial aid and much needed supplies like clothes and diapers.
Texas has been in need of something like Stream Cares for quite some time. When comparing states across the country, Texas easily falls into the category of least charitable. With this foundation Stream Energy can stand as an example to the business community of Texas in a way that encourages giving from those with the means to do so.