In the wake of destruction left behind by Hurricane Harvey in Texas, one company was ready and eager to begin helping their community recover. Stream Energy, an energy company who offers fixed rate energy and other services such as phone plans, came with an army of volunteers to provide aid in any way possible to the citizens of Houston and its surrounding areas. This was accomplished with funds provided by “Stream Cares”, the philanthropic branch of Stream Energy and a new innovative method in how business do philanthropy.
Although in 2016 alone corporations across America donated over $19 billion in charitable funds, a vast majority of those were sent out as checks and not the actual company doing the work. Stream Energy is changing the game, they fully understand the perks that direct philanthropy offers companies. These include respect and loyalty amongst the community, free press, and national brand recognition. This method has worked so incredibly well for Stream Energy that other corporations are taking notice of their moves. CEO’s are to be said to be hiring advisors to formulate a plan to bring their own philanthropic ventures to fruition.
Stream Energy, however, has a leg up on the competition in the form of their unique business model. Stream associates often do not get paid for working these projects, however, it doesn’t matter to them, they want to be there helping their community. This passion to help stems from the business model that Stream uses to produce revenue. When an associate is hired they are then tasked in networking with the community in the hopes of offering Stream services. Due to this constant communication, many in the company form bonds with their customers and community as a whole. There is no doubt that this innovation in philanthropy can only be seen as a win-win for companies and communities alike.