ConocoPhillips gives $1 million to support programs at The University of Texas at Austin
May 25, 2005
AUSTIN, Texas—ConocoPhillips, an international energy company headquartered in Houston, has given $1 million to The University of Texas at Austin for scholarships and other initiatives.
Of the $1 million, $400,000 is for the SPIRIT Scholars program. SPIRIT Scholars supports scholarship awards, mentorship programs, enrichment activities and internship opportunities for students in the colleges of Engineering and Natural Sciences and the McCombs School of Business. Eligible students must exhibit a strong interest in a career in the energy industry.
The gift includes $50,000 in unrestricted funds for the university’s Office of the President. Those funds are intended to enhance President Larry R. Faulkner’s capability to respond to special opportunities and to sponsor initiatives throughout the university.
ConocoPhillips’ total giving to the university now stands at more than $8.7 million. Of that amount, $3.8 million has been for research and the remainder for purposes ranging from faculty and student endowments to deans’ initiatives. The company also extends the reach of its employees’ philanthropy by matching their individual gifts. It has given the university nearly $600,000 in matching funds, including more than $8,500 for 2004.
“ConocoPhillips’ generous support has helped ensure that innovative academic and research programs flourish at The University of Texas at Austin,” Faulkner said. “On behalf of the university, I express my deep appreciation for their continuing commitment to excellence.”