900 Institutions of Higher Education to Benefit
Public Company Information:
IRVING, Texas--(BUSINESS WIRE)--ExxonMobil 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 3-to-1 basis.
These donations are a remarkable testament to the value ExxonMobil employees and retirees place on higher education,” said Kenneth P. Cohen, ExxonMobil vice president for public affairs and chairman, ExxonMobil Foundation. “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. Although matching funds are unrestricted, 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 the Exxon Mobil Corporation in the United States. The Foundation and the Corporation engage in a range of philanthropic activities that advance education, health and science in the communities where ExxonMobil has significant operations. In the United States, ExxonMobil supports initiatives to improve math and science education at the K-12 and higher education levels.
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, Exxon Mobil Corporation, its divisions and affiliates, and ExxonMobil Foundation provided $225 million in contributions worldwide, of which more than $89 million was dedicated to education. Additional information on ExxonMobil’s community partnerships and contributions programs is available at www.exxonmobil.com/community.
for ExxonMobil Foundation
Kim Quirk, 214-373-1601