ExxonMobil and its employees are donating US$ 44.2 million to higher education institutions across the US as part of the ExxonMobil Foundation’s 2013 Educational Matching Gift Program.
The program matched donor pledges 3:1 up to US$ 7500 to qualified colleges and universities, along with the American Indian College Fund, Hispanic Scholarship Fund and the United Negro College Fund.
ExxonMobil employees, retirees, directors and surviving spouses contributed US$ 13.7 million to the case, which was matched with US$ 30.5 million in unrestricted grants from the ExxonMobil Foundation.
Since the Educational Matching Gift Program began in 1962, more than US$ 536 million has been donated to American further education institutions. In 2013, 4796 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.
Suzanne McCarron, president of the ExxonMobil Foundation commented: ‘The ExxonMobil Foundation has a long history of supporting a range of efforts to improve the quality of education in the United States.
‘We are proud to build upon the generous support of ExxonMobil employees who are committed to investing in the future of young Americans and supporting institutions of higher learning’.
Adapted from a press release by Emma McAleavey.
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/07042014/exxonmobil_raises_money_for_us_higher_education_institutions343/