ExxonMobil and Employees Contribute More Than $50 Million to U.S. Colleges and Universities
May 08 2017 - 11:32AM
Business Wire
- More than 850 educational institutions
to receive funds from program that triple matches employee
donations
- More than $630 million donated since
program began
- Recipient organizations encouraged to
support math and science initiatives
ExxonMobil and its employees contributed more than $50 million
to institutions of higher education across the United States in
2016 as part of the ExxonMobil Foundation’s 2016 Educational
Matching Gift Program, the company announced today.
Employees, retirees, directors and surviving spouses contributed
$17.5 million, which was matched with $32.6 million in unrestricted
grants from the ExxonMobil Foundation to more than 850
universities, colleges and organizations dedicated to higher
education.
ExxonMobil’s program matches donor pledges on a 3:1 basis up to
$7,500 to qualified colleges and universities in the United States,
as well as the American Indian College Fund, Hispanic Scholarship
Fund and the United Negro College Fund. More than $630 million has
been contributed to such American institutions over the more than
50 years the company has offered the Educational Matching Gift
Program.
“ExxonMobil’s employees are committed to investing in quality
education,” said Ben Soraci, president of the ExxonMobil
Foundation. “The ExxonMobil Foundation has a long history of
supporting a range of efforts to improve education in the United
States. Our contributions and the generous support of ExxonMobil’s
employees will help create a stronger future for today’s
students.”
In 2016, nearly 4,500 employees and retirees provided 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 science, technology, engineering and math, as well as
teacher training initiatives.
About the ExxonMobil Foundation
The ExxonMobil Foundation is the primary philanthropic arm of
Exxon Mobil Corporation (NYSE:XOM) in the United States. The
foundation and the corporation engage in a range of philanthropic
activities that advance education, with a focus on math and science
in the United States, promote women as catalysts for economic
development and combat malaria. In 2016, together with its
employees and retirees, Exxon Mobil Corporation, its divisions and
affiliates, and the ExxonMobil Foundation provided $242 million in
contributions worldwide, of which $72 million was dedicated to
education.
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