ExxonMobil and Employees Donate More Than $38 Million to Education
IRVING, Texas -- ExxonMobil and its employees donated more than $38 million to 924 educational institutions across the United States through the ExxonMobil Foundation's 2010 Educational Matching Gift Program, the company reported.
"The ExxonMobil Foundation has a long legacy of supporting education through program development, strategic partnerships and financial assistance," 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 educational future of our country."
ExxonMobil employees, retirees, directors and surviving spouses contributed more than $12 million, which was matched with more than $26 million in unrestricted grants from the ExxonMobil Foundation. The program's 3:1 match is the most generous initiative of its kind and matches donor pledges up to $7,500 to qualified colleges, universities and designated organizations in the United States as well as the American Indian College Fund, Hispanic Scholarship Fund and the United Negro College Fund. Since the program's inception in 1962, more than $449 million has been donated to institutions of higher learning.
In 2010, 539 employees and retirees made individual donations through the initiative in New York. Although grant funds are unrestricted, colleges and universities are encouraged to direct a portion to math and science programs to support more student engagement and progress in these subjects, the company reported.