ExxonMobil and its employees are donating US$47.1 million to institutions of higher education across the country as part of the ExxonMobil Foundation’s 2014 Educational Matching Gift Program, an increase of US$3.1 million over the prior year.
ExxonMobil employees, retirees, directors and surviving spouses contributed US$15.5 million, which was matched with US$31.6 million in unrestricted grants from the ExxonMobil Foundation.
The programme matches donor pledges 3:1 up to US$7500 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, more than US$568 million have been donated to American institutions of higher learning.
“ExxonMobil employees care about education and make it an investment priority year after year,” said Suzanne McCarron, president of the ExxonMobil Foundation. “We are proud that the ExxonMobil Foundation has such a long and solid record in working to support education in the United States. Commitment to excellent education is not only important to our business, but also ensuring the next generation is prepared to excel in the future.”
In 2014, 4674 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 programmes supporting student engagement.
In addition to the Educational Matching Gift Program, ExxonMobil and the ExxonMobil Foundation support and develop programmes that encourage students, particularly women and minorities, toward careers in science, technology, engineering and math, as well as teacher training initiatives.
Adapted from a press release by David Bizley