Velda Addison, Hart Energy
The philanthropic arm of ExxonMobil (NYSE: XOM) is still reaching out, despite lower oil prices impacting the company’s profits.
The Irving, Texas-based company shared news of its contributions during a flurry of news releases last week. Contributions to more than 850 colleges, universities, college funds and scholarship programs totaled a whopping $45.4 million in grants. The contributions are part of a program in which the company matches pledges from employees, retirees, directors and surviving spouses on a 3:1 ratio up to $7,500.
“Quality education is the foundation for individual opportunity and economic prosperity,” Ben Soraci, president of the ExxonMobil Foundation, said in a news release. “We have a long history of supporting education excellence in the country. It’s a shared priority, year after year, with ExxonMobil employees.”
ExxonMobil and its employees contributed:
- More than $10 million to Texas colleges and universities ;
- Nearly $9 million to Ohio colleges and universities
- $2.6 million to Pennsylvania colleges and universities;
- More than $3 million to New York colleges and universities;
- More than $2.4 million to Louisiana colleges and universities;
- $1.4 million to 33 Virginia colleges and universities;
- More than $1.4 million to Oklahoma colleges and universities;
- More than $1 million to New Jersey colleges and universities;
- More than $950,000 to California colleges and universities;
- $813,000 to 12 Alabama colleges and universities;
- More than $850,000 to Colorado colleges and universities and
- $800,000 to Kansas colleges and universities.
Recipients are not restricted to using the funds in particular areas; however, they are encouraged to designate some of it to math and science programs that support student engagement, ExxonMobil said in the news release.
Higher education institutions were not the only ones blessed with funds recently from the ExxonMobil Foundation.
Earlier this week ExxonMobil announced a $100,000 contribution to the American Red Cross for disaster relief assistance for Greater Houston area communities impacted by the severe storms.
The devastating flooding April 18, which dumped more than 15 inches of rain on some communities, left eight people dead, flooded thousands of homes and caused millions of dollars in damage. Some roads remained closed more than 10 days after the storm.
“We extend our heartfelt sympathies to residents who have been affected by the recent storms and flooding,” ExxonMobil CEO Rex W. Tillerson said in a news release. “We hope that our assistance will help provide relief to our neighbors and friends in the Houston area during this challenging time.”
The company’s foundation also awarded more grants to organizations fighting malaria, an effort ExxonMobil said it has taken part in for more than 15 years. The company will invest $9 million in programs in 2016 for the cause. Grant recipients include Africare, Harvard University, Jhipego, President’s Malaria Initiative, Seed Global Health and Worldwide Antimalarial Resistance Network, according to a news release.
Velda Addison can be reached at email@example.com.
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