- Almost 840 educational institutions to receive funds from a program that triple matches employee donations
- More than $665 million donated since program began in 1962
- Recipient organizations encouraged to support math and science initiatives
Public Company Information:
IRVING, Texas--(BUSINESS WIRE)--ExxonMobil and its employees are donating $49.8 million to almost 840 institutions of higher education across the country as part of the ExxonMobil Foundation’s 2017 Educational Matching Gift Program.
ExxonMobil employees, retirees, directors and surviving spouses contributed $16.9 million, which was matched with $32.9 million in unrestricted grants from the ExxonMobil Foundation.
The program matches donor pledges 3:1 up to $7,500 to qualified colleges and universities in the United States, along with the American Indian College Fund, Hispanic Scholarship Fund and the United Negro College Fund. Since the Educational Matching Gift Program began in 1962, ExxonMobil has donated more than $665 million to American institutions of higher learning.
“We have a long history of supporting education excellence in the United States,” said Kevin Murphy, president of the ExxonMobil Foundation. “Our employees and retirees also share that priority. This donation is a demonstration of our collective support for higher education institutions across the country.”
In 2017, more than 4,200 employees and retirees made 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 2017, the ExxonMobil Foundation, together with Exxon Mobil Corporation, its divisions and affiliates along with employees and retirees, provided $204 million in contributions worldwide, of which $68 million was dedicated to education.
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