ExxonMobil Pledges $36 Million to Higher Education

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ExxonMobil Pledges $36 Million to Higher Education

IRVING, Texas -- Hundreds of colleges and universities across the nation are set to receive $36 million through ExxonMobil Foundation's 2007 Educational Matching Gift Program.

In total, 930 institutions of higher learning will benefit from the employees, retirees, surviving spouses and directors who collectively made more than 9,200 in individual contributions totaling approximately $11 million to institutions in 2007.

"For more than 40 years ExxonMobil's employees and retirees have demonstrated their commitment to institutions of higher education through their generous contributions through the Educational Matching Gift Program," Kenneth P. Cohen, vice president for public affairs, ExxonMobil Corp., and chairman, ExxonMobil Foundation, said in a released statement.

Since its inception in 1962, The Educational Matching Gift Program remains among the most generous of its kind matching gifts to affiliated higher education institutions by employees and retirees on a 3-to-1 basis. To date, the program has provided more than $372 million in unrestricted educational grants.

In recent years, the program has focused on math and science programs. This is ExxonMobil Foundation's response to the nation's growing need to produce more engineers and scientists as well as to foster the development of highly qualified math and science teachers.

"These donations provide universities throughout the nation an opportunity to enhance their current educational programs and to achieve new levels of excellence," Cohen said in a released statement.