ExxonMobil and Employees Donate $40 Million to U.S. Colleges and Universities
- 900 educational institutions are receiving funds from a program that matches employee donations
- More than $477 million donated since program began in 1962
- Recipient organizations encouraged to support math and science initiatives
IRVING, Texas--(BUSINESS WIRE)-- ExxonMobil and its employees are donating $40 million to higher education institutions across the country as part of the ExxonMobil Foundation’s 2011 Educational Matching Gift Program.
ExxonMobil employees, retirees, directors and surviving spouses contributed $12 million, which was matched with $28 million in unrestricted grants from the ExxonMobil Foundation.
The program matches donor pledges 3:1 up to $7,500 to qualified colleges and universities in the United States, along with the American Indian College Fund, Hispanic Scholarship Fund and the United Negro College Fund. Since the Educational Matching Gift Program began in 1962, more than $477 million has been donated to American institutions of higher learning.
“The ExxonMobil Foundation has a long history of supporting a range of efforts to improve the quality of education in the United States,” said Suzanne McCarron, president of the ExxonMobil Foundation. “We are proud to build upon the generous support of ExxonMobil employees who are committed to investing in the future of young Americans.”
In 2011, more than 4,900 employees and retirees made individual donations through the initiative. Although grants are unrestricted, colleges and universities are encouraged to designate a portion to math and science programs supporting student engagement.
In addition to the Educational Matching Gift Program, ExxonMobil and the ExxonMobil Foundation support and develop programs that encourage students, particularly women and minorities, toward careers in math and science fields, as well as teacher training initiatives.
About ExxonMobil Foundation
ExxonMobil Foundation is the primary philanthropic arm of the Exxon Mobil Corporation in the United States. The Foundation and the Corporation engage in a range of philanthropic activities that advance education, health and science in the communities where ExxonMobil has significant operations. In the United States, ExxonMobil supports initiatives to improve math and science education at the K-12 and higher education levels.
Globally, ExxonMobil provides funding to improve basic education, promote women as catalysts for economic development, and combat malaria and other infectious diseases in developing countries. In 2011, together with its employees and retirees, Exxon Mobil Corporation (NYSE:XOM), its divisions and affiliates, and ExxonMobil Foundation provided $278 million in contributions worldwide, of which $120 million was dedicated to education. Additional information on ExxonMobil’s community partnerships and contributions programs is available at www.exxonmobil.com/community or follow us at www.twitter.com/exxonmobil.
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Source: Exxon Mobil Corporation
Released April 23, 2012