May 14, 2001
ExxonMobil matching gifts pump funds into Purdue programs
WEST LAFAYETTE, Ind. The ExxonMobil Foundation has teamed up with donors to provide $220,000 in matching gifts to benefit Purdue University schools, programs and projects, ranging from capital campaigns to student music organizations.
"ExxonMobil's 3-to-1 Educational Matching Gift Program is a great way to enhance our employees' generosity and, thereby, show our excitement for Purdue's schools and programs," said Purdue alumnus Michael P. Ramage, ExxonMobil Research and Engineering Co. executive vice president.
Ramage presented the foundation's check for $163,000 Tuesday (5/8) to his alma mater, where he received his bachelor's, master's and doctoral degrees in chemical engineering. The donation matched $65,000 contributed during the 1999-2000 academic year by Ramage and more than 70 other Exxon employees, retirees and surviving spouses.
"With universities aggressively pursuing upgraded curricula, enhanced learning opportunities for undergraduate and graduate students, and technology availability, matching gift programs play an important role in a university's financial health," said Robert L. Ringel, Purdue's executive vice president for academic affairs. "This is a wonderful way to bring companies, employees and the university together in our common quest for excellence through education."
The ExxonMobil employee-designated beneficiaries of this year's matching gifts run the spectrum of Purdue schools and programs: the School of Chemical Engineering, the Women in Engineering program, the President's Council fund, Krannert School of Management, the Purdue Musical Organizations Club fund, the School of Consumer and Family Sciences programs and others.
The matching gift program typically works this way: The university verifies an employee's gift and submits a contribution form to the participating employer. The employer matches the gift, but not always dollar-for-dollar or on the 3-to-1 formula as ExxonMobil does. The matched funds then go directly to the university.
More than 675 companies match employee donations to Purdue. Purdue raised $2.8 million last year and about $12 million over the past five years from such partnerships.
To match 2000 donor gifts, ExxonMobil contributed more than $17 million to 950 colleges and universities through its education foundation's matching gifts program. Purdue is among the top 20 Exxon grant recipients.
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