ExxonMobil donates US$ 40 million to US educational institutions
ExxonMobil and its employees, retirees, directors and surviving spouses are to donate US$ 40.2 million to higher education institutions in the US as part of the ExxonMobil Foundation’s Educational Matching Gift Program.
The program matches employee contributions at a ratio of 3:1, up to US$7500 for qualifying colleges/universities, along with the American Indian College Fund, Hispanic Scholarship Fund, and the United Negro College Fund. The grants are unrestricted, however institutions are encouraged to designate a portions to maths and science programs, aimed at encouraging student engagement.
The total donations from employees, retirees, directors and surviving spouses were equal to approximately US$ 11.9 million. The ExxonMobil Foundation matched this sum with its own contributions, to the value of US$ 28.3 million.
Contributions by state were as follows:
Virginia
Total donations were approximately US$1.29 million. Employees contributed US$ 370 000, which was matched with US$ 925 000 from the ExxonMobil Foundation.
Pennsylvania
Total donations were approximately US$2.5 million. Employees contributed more than US$ 900 000, which was matched with US$ 1.6 million from the ExxonMobil Foundation.
Texas
Total donations were approximately US$ 9.3 million. Employees contributed US$ 3 million, which was matched with US$ 6.3 million from the ExxonMobil Foundation.
Louisiana
Total donations were approximately US$ 2.37 million. Employees contributed nearly US$ 700 000, which was matched with US$ 1.68 million from the ExxonMobil Foundation.
New York
Total donations were approximately US$ 2.9 million. Employees contributed more than US$ 790 000, which was matched with US$ 2.1 million from the ExxonMobil Foundation.
The ExxonMobil Foundation is the primary philanthropic arm of ExxonMobil Corporation in the US. In addition to the Educational Matching Gift Program, the Foundation supports a number of other programs that encourage students, particularly women and minorities, towards careers in mathematical and scientific fields.
Adapted from press releases by Emma McAleavey.
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/16042013/exxonmobil_donates_forty_million_dollars_to_us_educational_institutions-1928/
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