ExxonMobil Corp. (NYSE: XOM) donated $10 million to Texas colleges and universities for the ExxonMobil Foundation’s 2014 Educational Matching Gift Program, the company said April 17.
Through the program, employees, retirees, directors and surviving spouses contributed $2.9 million to 77 Texas colleges and universities. This amount was matched by $7.1 million in unrestricted grants from the ExxonMobil Foundation.
Although grants are unrestricted, colleges and universities are encouraged to designate a portion to math and science programs supporting student engagement, the company added.
The program matches donor pledges 3:1 up to $7,500 to qualified U.S. colleges and universities and the American Indian College Fund, Hispanic Scholarship Fund and the United Negro College Fund.
Since the program began in 1962, more than $568 million have been donated.
“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.”
Nationwide, close to 900 institutions received $47 million through the 2014 Educational Matching Gift Program, an increase of $3 million over 2013.
ExxonMobil and the ExxonMobil Foundation also support and develop programs encouraging students, particularly women and minorities, toward careers in science, technology, engineering and math, and teacher training initiatives.
The ExxonMobil Foundation is part of Irving, Texas-based ExxonMobil Corp.
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