ExxonMobil Foundation higher education grants top $17 million - May 28, 2001

Providing coverage of Alaska and northern Canada's oil and gas industryMay 2001

Vol. 6, No. 5

Week of May 28, 2001

ExxonMobil Foundation higher education grants top $17 million

Petroleum News Alaska Staff

ExxonMobil Foundation said May 7 that it has contributed more than $17 million in unrestricted grants to 950 colleges and universities to match educational gifts made in 2000 by ExxonMobil employees, retirees, surviving spouses, and directors.

Initiated in 1962, this program matches gifts to higher education on a 3-to-1 basis and has provided more than $230 million in gifts to higher education in the United States.

Under the program, a donor can give up to $5,000 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 up to $15,000. The affiliation requirement is waived for gifts to the United Negro College Fund, the Hispanic Scholarship Fund and the American Indian College Fund.

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