ExxonMobil, Employees Donate $36M to Universities

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ExxonMobil, Employees Donate $36M to Universities

IRVING, Texas -- ExxonMobil Corp. and its employees donated more than $36 million to 900 colleges and universities across the United States through the ExxonMobil Foundation’s 2008 Educational Matching Gift Program.

ExxonMobil employees, retirees, surviving spouses and directors made more than 8,500 individual contributions totaling more than $11 million to institutions of higher education in 2008, which were matched by the ExxonMobil Foundation with more than $25 million in unrestricted educational grants.

Since its inception in 1962, the program has provided $398 million to higher education institutions in the United States. Through the matching program, donors may pledge up to $7,500 per year to colleges or universities with which they are affiliated, the American Indian College Foundation, the Hispanic Scholarship Foundation and the United Negro College Fund. Donations are matched on a three-to-one basis.

"These donations are a remarkable testament to the value ExxonMobil employees and retirees place on higher education," Kenneth P. Cohen, ExxonMobil vice president for public affairs and chairman of the ExxonMobil Foundation, said in a statement. "We’re investing in the future, campus by campus, by providing these much needed dollars for colleges and universities to increase their level of excellence."

ExxonMobil Foundation funds math and science programs to respond to the nation’s growing need to produce more engineers and scientists and to develop more highly qualified math and science teachers, the oil company said in a statement. Matching funds are unrestricted, but the foundation is encouraging college and university presidents to direct a portion of the matching funds to programs that provide math and science teachers with professional development, attract more young people to teach math and science, and support programs that encourage women and minorities to become scientists and engineers.

ExxonMobil Foundation is the primary philanthropic arm of Exxon Mobil in the United States. Globally, ExxonMobil provides funding to improve basic education and combat malaria and other infectious diseases in developing countries. In 2008, together with its employees and retirees, divisions and affiliates, the ExxonMobil Foundation provided $225 million in contributions worldwide, of which more than $89 million was dedicated to education.

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