Texas Tech Receives $400,000 from ExxonMobil Matching Gift Program
Donation multiplies employees' gifts to colleges and programs across the university.
ExxonMobil and its employees announced a donation of more than $411,000 to Texas Tech University through the company’s matching gifts program on Tuesday. The annual contribution includes gifts from 47 employees and the energy company’s matching contribution, which benefit Texas Tech students across the university.
“We are so very appreciative of the generosity of our alumni and the three-to-one matching support of ExxonMobil,” said Lawrence Schovanec, Texas Tech president. “ExxonMobil’s commitment to higher education magnifies the impact of our alumni support, and we thank them both for their continued commitment to our students at Texas Tech University.”
Many corporations offer matching gift incentives to encourage their employees to give philanthropically. Once an employee makes a gift to a qualifying charity, their company also makes a donation, matching their contribution.
The ExxonMobil Matching Gift Program contributes $3 for each dollar donated by ExxonMobil employees and $1 for retirees and surviving spouses.
ExxonMobil is the world’s largest publicly traded oil and gas company and one of the largest refiners and marketers of petroleum products. Since its inception, the ExxonMobil Matching Gifts Program has contributed $3.25 million in philanthropic support for Texas Tech.