Duke Energy Foundation Powers Positive Change Over 40 years
Rhea-AI Summary
The Duke Energy Foundation, established in 1984, has been a significant force for positive change in communities across seven states for 40 years. Over this period, it has awarded over $500 million to more than 20,000 nonprofits, focusing on climate resiliency, justice, equity, inclusion, and creating strong economies. The Foundation is funded through shareholder dollars and supports various initiatives, including environmental sustainability, workforce development, and education.
Duke Energy employees contribute thousands of volunteer hours annually, donating nearly $4 million worth of volunteer time. The Foundation is committed to aligning with Duke Energy's clean energy transition and decarbonization efforts. Looking ahead, it has a five-year commitment to invest $150 million in line with the company's net-zero business strategy and efforts toward A Just Transition.
Positive
- Over 40 years, the Foundation has awarded over $500 million to more than 20,000 nonprofits
- Duke Energy employees donate nearly $4 million worth of volunteer time annually
- Five-year commitment to invest $150 million in line with net-zero business strategy
- Foundation aligns closely with Duke Energy's clean energy transition and decarbonization efforts
Negative
- None.
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NORTHAMPTON, MA / ACCESSWIRE / August 8, 2024 / Duke Energy
From financial contributions to hands-on volunteerism, the Foundation remains steadfast in its mission to improve our communities
By Michael J. Solender | illumination Contributor
For 40 years, the Duke Energy Foundation has been more than an extension of Duke Energy, the electric utility with which it shares a name. By forging strong relationships with diverse nonprofits across Florida, Kentucky, Indiana, Ohio, Tennessee, North Carolina and South Carolina, it has positioned itself as a committed partner to organizations addressing critical issues in our communities.
This work has made a decades-long difference for United Way of Greater Charlotte and the community partners it serves, said Vice President of Resource Development Leanne Skipper.
"We work to make our Charlotte-area community stronger, and so does Duke Energy," Skipper said. "The company activates this goal with us though prioritizing and promoting our annual Power to Give fundraising campaign with matching gifts made by associates and supporting many of our community initiatives such as Home for All, the community's plan to address homelessness and housing instability."
Amy Strecker, president of the Duke Energy Foundation, calls it "a showcase example of our core mission."
Established in 1984 as the Duke Power Company Foundation, today's Duke Energy Foundation builds upon the legacy foundations of Duke Energy's multiple predecessor companies. Over 40 years, the Foundation has become a philanthropic powerhouse, awarding over
"The Foundation began with this idea of citizenship and service, and what our company could do to best serve the communities where we deliver electric and gas services," Strecker said. "That is really the spirit in which the Foundation continues."
Shareholder-funded
Focused today on making our economies more vibrant and our communities places to thrive, the Foundation is funded annually through shareholder dollars.
Its guiding pillars - to enhance climate resiliency, foster justice, equity and inclusion, and create strong economies - are achieved through charitable grants and tangible actions.
Through its climate resiliency efforts, the Foundation has supported environmental initiatives that promote sustainability and help communities adapt to changing climate conditions. It also invests in programs that support workforce development and education, ensuring that local economies thrive by equipping individuals with the skills needed for the jobs of tomorrow.
Volunteerism culture
Volunteerism is another critical component of the Foundation's work. Duke Energy employees contribute thousands of volunteer hours each year, donating nearly
"From front-line associates all the way through senior executives, Duke Energy always comes out with scores of associates," Skipper said of United Way's Martin Luther King Day of Service. "It's such a great example of service to see."
Team members also help the Foundation stay attuned to the unique needs of its seven states, advising on the best ways to spend dollars to get the outcomes that matter most to customers.
"Behind this grant funding and charitable giving are people who genuinely care about making a difference," Strecker said. "Volunteering and hands-on service is a huge part of our Duke Energy culture."
It's not lost on community partners like Judy Sheese, assistant dean of the Bayh College of Education at Indiana State University, who helped create an outreach literacy program in 2015. Its mission - to equip teachers with the tools needed to improve the reading skills of area elementary school children - came to life with Foundation grant funding and support from the Indiana Department of Education.
"I was impressed that the Foundation shared our interest in delivering strategies teachers could take back to their classrooms," Sheese said.
Investing in the energy workforce
What stands out to MoNiqueka Smith, lead strategy and collaboration manager at Duke Energy, is belonging to an organization that recognizes the importance of investing in and supporting the next generation of energy leaders.
"As current president of the American Association of Blacks in Energy (AABE) North Carolina chapter, I experience the Foundation's support firsthand," she said.
Through Foundation support, AABE hosts annually a program known as the Youth Energy Academy, where eighth through 12th graders in underserved communities have an opportunity to learn about careers in science, technology, engineering and mathematics (STEM) and the energy sector.
"We also offer scholarships to high school seniors and college freshman," Smith said. "It's a good feeling."
Future focus: Clean energy transition
Investing in STEM education and building a diverse talent pipeline is also great for utilities like Duke Energy that are focused on delivering reliable and increasingly clean electricity to homes and businesses.
"We've worked hard for our Foundation to align closely with the clean energy transition and the decarbonization work the company is taking on," Strecker said.
As it looks to the future, the Foundation remains committed to its mission, ready to tackle new challenges that contribute to a brighter, more sustainable future. And it's poised to create even more value as it drives toward a five-year commitment to invest
"This milestone is a celebration of both our past and our future, and a testament to our community partners and Duke Energy employees who have been instrumental in our 40-year journey," Strecker said. "We look forward to harnessing our history to ensure many more years of creating positive, lasting impacts, together."
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SOURCE: Duke Energy
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