Hess Corporation to Make $9 Million, Three-Year Investment in Education in Houston’s Underserved Communities

Rhea-AI Summary

Hess Corporation (NYSE: HES) has committed $9 million over three years to support educational programs for children in economically disadvantaged communities in Houston. This initiative, part of the Learning for Life Partnership, aims to benefit around 13,000 students across 22 schools in areas like Third Ward and Magnolia Park-Manchester. The funding will go to various nonprofits and encompass STEM education, mentorship, and scholarships. This framework expands upon Hess's previous $7.4 million investment in education over the last eight years, demonstrating a commitment to community enhancement.

Positive

• Financial commitment of $9 million over three years to support education in disadvantaged communities.
• Benefits approximately 13,000 children across 22 schools, enhancing educational resources.
• Partnership expands upon previous $7.4 million investment, indicating strong ongoing support for local education.

Negative

• None.

Hess Corporation (NYSE: HES) today announced a $9 million financial commitment over the next three years as part of its Learning for Life Partnership to fund educational programs and support services for children in three economically disadvantaged communities in Houston that are part of Mayor Sylvester Turner’s Complete Communities Initiative. Hess employees will also volunteer time and expertise to support these programs.

The Hess Learning for Life Partnership will benefit approximately 22 schools and more than 13,000 children from pre-K through elementary, middle, and high school in Houston’s Third Ward, Magnolia Park-Manchester, and Second Ward Complete Communities neighborhoods. The partnership expands the scope and reach of Hess’ LEAP (Learn, Engage, Advance, Persevere) educational program, a $7.4 million investment over the last eight years to support students in the Magnolia Park and Second Ward neighborhoods.

Hess Learning for Life grants are being made through the Greater Houston Community Foundation to various nonprofit organizations to address needs identified by Mayor Turner’s Complete Communities initiative, helping ensure that all Houstonians have equal access to quality services and amenities.

“Our company has a proud history of social investment programs that make a positive and lasting impact on the communities where we operate,” said John B. Hess, Chief Executive Officer. “In partnership with Mayor Turner’s initiative, we are delighted to expand our commitment to provide children in the neighborhoods adjacent to Hess Tower in downtown Houston with the academic and social resources they need to reach their full potential.”

“All children deserve an opportunity to pursue their dreams,” said Greg Hill, Hess President, and Chief Operating Officer. “With this partnership, we are supporting the needs of underserved children at every level of their development.”

“Philanthropic support to local nonprofits and volunteerism from corporations, such as Hess, keep Houston’s workforce competitive and youth equipped with the tools they need to succeed. Local schools also need support and corporate stewardship to improves student achievement, reduce absenteeism, and develop strong school-community partnerships,” stated Mayor Turner.

The Hess Learning for Life Partnership will fund STEM equipment and curricula, teacher training, computer equipment, mentorship programs, accreditation initiatives, career life guidance counseling, and other support. It also will provide full scholarships for nine high school seniors each year to pursue a college degree or vocational certification and support work-study programs at the University of Houston and Texas Southern University in the Third Ward.

Nonprofit organizations to receive funding include The Barbara Bush Houston Literacy Foundation’s My Home Library; Big Brothers Big Sisters’ Beyond School Walls mentorship program; Genesys Works’ high school internship program; Communities In Schools’ on-campus student support; Children’s Museum Houston’s science workshop summer camp; Collaborative for Children’s Center of Excellence’s early childhood education programming; Comp-u-Dopt’s computer education series and hardware distribution; Edgenuity’s credit recovery program; C-STEM’s Robotics Prototype toolkits and teacher training; and Alliance Financial Ministries’ student workshops and after-school programs

Schools benefitting from the investment are Briscoe, Blackshear, Carrillo, DeZavala, Foster, Franklin, Gallegos, Hartsfield, KIPP Explore, Lockhart, Peck, Thompson, Tijerina, and Whidby elementary schools; Cullen, Edison, and Ryan (Baylor College of Medicine) middle schools; Austin, Energy Institute and Yates high schools; Texas Southern University and the University of Houston.

About Hess

Hess Corporation is a leading global independent energy company engaged in the exploration and production of crude oil and natural gas. More information about Hess Corporation is available at http://www.hess.com.

About Houston Complete Communities

Complete Communities is a signature initiative of City of Houston Mayor Sylvester Turner. Its mission is to ensure that all Houstonians have equal access to quality services and amenities that improve their lives. By developing public-private partnerships that tap into the strengths of Houston’s residents, nonprofits, businesses, and philanthropic partners, together, we can build a stronger, more resilient city and make transformational change where it’s needed most. To learn more about the Complete Communities initiative and read the Action Plans created by residents and approved by City Council for the first five Complete Communities, visit the website www.houstontx.gov/completecommunities.

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FAQ

What is the financial commitment made by Hess Corporation for education?

Hess Corporation has committed $9 million over the next three years to support educational programs.

How many children will benefit from Hess's educational programs in Houston?

Approximately 13,000 children from 22 schools will benefit from Hess's educational programs.

What specific initiatives will the $9 million funding support?

The funding will support STEM education, mentorship programs, scholarships, and other educational resources.

What areas are involved in Hess's Learning for Life Partnership?

The partnership focuses on economically disadvantaged communities in Houston's Third Ward, Magnolia Park-Manchester, and Second Ward.

How has Hess contributed to education in Houston prior to this announcement?

Prior to this announcement, Hess invested $7.4 million over the last eight years in educational support for the Magnolia Park and Second Ward neighborhoods.