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ExxonMobil and Employees Donate $40 Million to U.S. Colleges and Universities

Source : Market Watch – Wall Street Journal
April 26, 2012

 Texas, Apr 23, 2012 (BUSINESS WIRE) -- --More than $477 million donated since program began in 1962 

--Recipient organizations encouraged to support math and science initiatives 

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.

 

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