ExxonMobil has given $1,002,329 to The University of Texas at Austin as a 3-to-1 match of gifts made by the company's employees and retirees in the past year. It is the first time the company's yearly match has exceeded $1 million after coming close in recent years.
"ExxonMobil has been very generous to UT over many years," said William Powers Jr., the university's president. "This is the latest in a long line of gifts that have helped student success on the Forty Acres. I am very grateful for ExxonMobil's generosity."
"This extraordinary gift is doubly meaningful to us," said Mark Blount, the university's director of corporate relations. "It's a generous investment in the future from one of the world's top companies. It also underscores the enormous breadth of individual gifts this university receives from our alumni, in this case from ExxonMobil employees and retirees. Altogether, this is an impressive outpouring of support, especially given the current economic climate, and we're deeply appreciative."
A majority of the $1,002,329 donation benefits programs in business, engineering and geosciences, reflecting the primary academic background of ExxonMobil's personnel. Funds also were directed to other areas, however, ranging from medical research to arts and humanities.
With cumulative giving to the university of about $44 million, ExxonMobil is the university's most generous corporate partner. The company has also made about $15 million in research grants to the institution. Rex W. Tillerson, ExxonMobil's chairman and chief executive officer, is a 1975 graduate of The University of Texas at Austin, with a bachelor of science degree in civil engineering. Many other executives and employees also are University of Texas at Austin alumni.