ExxonMobil Foundation

May 02, 2007 12:50 ET

ExxonMobil, Employees, Retirees Donate More Than $33 Million to Institutions of Higher Education

IRVING, TEXAS--(Collegiate Presswire - May 2, 2007) - ExxonMobil announced today its donation of more than $33 million to 953 colleges and universities across the United States through the ExxonMobil Foundation's 2006 Educational Matching Gift Program.

ExxonMobil employees, retirees, surviving spouses and directors made more than 9,300 individual contributions totaling more than $9 million to institutions of higher education in 2006, which was matched by the ExxonMobil Foundation with more than $24 million in unrestricted educational grants. Due to the critical need in mathematics and science education, the Foundation is encouraging college and university presidents to allocate a portion of the unrestricted funds to programs directed at improving math and science education at their universities.

Initiated in 1962, the ExxonMobil Foundation's Educational Matching Gift program matches gifts to higher education on a 3-to-1 basis and has provided more than $347 million to higher education in the United States.

"The success of ExxonMobil's Educational Matching Gift Program is a testament to our employees' and retirees' deep commitment to education," said Kenneth P. Cohen, vice president for public affairs, Exxon Mobil Corporation, and chairman, ExxonMobil Foundation. "By supporting institutions of higher education, we are investing in the development of new technologies, future leaders, social progress and economic advancement."

Under the ExxonMobil Foundation's Educational Matching Gift Program, a donor can give up to $7,500 a year to colleges and universities with which he or she is affiliated and the Foundation matches those gifts on a 3-to-1 basis. The affiliation requirement is waived for gifts to the United Negro College Fund, the Hispanic Scholarship Fund and the American Indian College Fund.

ExxonMobil Foundation is the primary philanthropic arm of the Exxon Mobil Corporation in the United States. The Foundation and the Corporation engage in a range of philanthropic activities that advance education, health and science in the communities where ExxonMobil has significant operations. In the United States, ExxonMobil supports initiatives to improve math and science education at the K-12 and higher education levels. Globally, ExxonMobil provides funding to improve basic education and combat malaria and other infectious diseases in developing countries. In 2006, Exxon Mobil Corporation, its divisions and affiliates, and ExxonMobil Foundation provided $139 million in contributions worldwide, with $54 million dedicated to education. Additional information on ExxonMobil's community partnerships and contributions programs is available at www.exxonmobil.com/community.

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