The University is the beneficiary of millions of dollars from various oil companies each year, with most of that money financing research initiatives.
According to the University’s Web site, Shell Oil Co. has donated half a million dollars to the University in the past year, including $100,000 to the School of the Coast and Environment and $100,000 to the College of Engineering for the Shell Microcomputing Lab.
In addition, the Web site said Exxon-Mobil also has donated $1 million to the University, including $250,000 for a scholarship program for engineering students.
According to the Exxon-Mobil Web site, the Exxon-Mobil Educational Matching Gift Program was started in 1962 and matches gifts from employees to higher education on a three-to-one basis.
“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 three-to-one basis up to $15,000,” the Web site said.
According to the LSU Foundation Web site, Exxon-Mobil Corp. and Exxon-Mobil Foundation is one of the University’s Supreme Sponsors for contributions of at least $10 million.
ChevronTexaco is a Distinguished Sponsor for contributions of at least $5 million, and Shell Oil Company Foundation is a Gold Sponsor for contributions of at least $2.5 million.
“We receive funds from oil companies for essentially two purposes: first, as donations to support faculty positions and student scholarships, and second as support for specific research projects,” said Chancellor Mark Emmert.
Emmert said he did not know the exact amount of total funding the University has received from oil companies, but the University is the largest recipient of funds from Exxon-Mobil, mostly because of the matching gift program.
Jeff Hale, LSU Foundation’s director of corporate and foundation relations, said there are several factors involved in the University’s receipt of donations from oil companies.
Hale said one of the factors is because the University has a long history of producing successful graduates.
“A lot of companies say there’s just something about an LSU graduate,” Hale said.
Hale said many of these employees make donations back to the University.
For example, Hale said the University receives $700,000 to $1 million yearly from the Exxon-Mobil matching program.
Hale also said the University’s location along the Gulf of Mexico makes it a good place for oil companies to place their funding because of Louisiana’s strong ties to the oil industry.
Hale said these funds go toward several academic initiatives at the University, including endowed professorships and chairs, fellowships, scholarships and computer labs.