Moody Foundation

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Moody Foundation[1]
Moody Foundation Logo.png
Founded August 22, 1942
Founder William Lewis Moody, Jr.
Libbie Shearn Rice Moody
Type Grant making private foundation
(IRS exemption status): 501(c)(3)
Focus Education, Children’s health projects, Historic preservation
Location
Area served
Texas
Method Endowment
Key people
Chairman - Robert L. Moody
Endowment $1.197 billion USD[2]
Slogan "To benefit, in perpetuity, present and future generations of Texans."
Website www.moodyf.org

The Moody Foundation is a charitable foundation incorporated in Texas and based in the island city of Galveston. It was chartered in 1942 by William Lewis Moody, Jr. and his wife Libbie Shearn Rice Moody "to benefit, in perpetuity, present and future generations of Texans." The foundation focuses the majority of its funding on programs involving education, social services, children’s needs, and community development.[3]

Foundation description[edit]

The foundation makes grants through its Galveston, Texas headquarters and through a field office located in Dallas. In fiscal year 2006, it reported assets of $1.197 billion and approved $33 million in grants[4] for projects that focused on education, social services, children’s needs, and community development.[5] In terms of assets, it is one of the largest foundations in Texas, and among the top 100 largest charitable foundations in the United States.[2]

Financial information[edit]

The foundation's main source of revenue consists of dividends from stock held in the American National Insurance Company, the majority of which is controlled by both the Moody Foundation and the Libbie Shearn Moody Trust. The trust department of the Moody National Bank administers the finances of both the Foundation and the Trust.[6][7][8]

Major Grants and Initiatives[edit]

The foundation commits the majority of its grants and funding to the foundation-initiated projects of Moody Gardens and the Transitional Learning Center, both located in its home city of Galveston. However over the past decade, it has begun expanding the scope of its grants to include projects across Texas, as long as they fall within its field of charitable focus.[3][9]

Moody Gardens[edit]

Moody Gardens' Rainforest Pyramid

Moody Gardens is an educational & tourist complex located in the foundation's home city of Galveston, Texas. It is owned, through a complex agreement, by the City of Galveston but funded, operated, and supported by the foundation. As of 2005, the foundation had expended almost $300 million USD towards the construction, expansion, and maintainace of the facility.[10]

Moody Gardens features three main attractions: the Aquarium Pyramid, which is one of the largest in the world and holds many species of fish and other sealife; the Rainforest Pyramid, which contains tropical fauna and flora; and the Discovery Pyramid, which focuses on science-oriented exhibits and activities. Another major attraction is Palm Beach, a landscaped white-sand beach with freshwater lagoons and offering children's activities. Moody Gardens also has a RideFilm Theater with motion-based pod seating, a 3-D IMAX theater, a paddlewheel cruise boat, a hotel and a convention center.

Transitional Learning Center[edit]

The Transitional Learning Center (TLC) is a facility that specializes solely in post-acute brain injury rehabilitation. It was started by the foundation in 1982, in response to a brain injury suffered by a son of trustee Robert L. Moody. The center provides survivors of acute brain injury with rehabilitation services needed to help patients overcome their injuries and regain independence.

In addition to providing medical treatment and support, TLC is involved with extensive brain research programs and offers educational training programs for the medical field.[11]

In 2005 the foundation expended $38.1 million USD towards supporting and expanding the Transitional Learning Center and its programs.[12]

Galveston Island Municipal Golf Course[edit]

In 2007 the Moody Foundation sign an agreement with the City of Galveston to completely rebuild the city's municipal golf course. It is scheduled to reopen in June 2008 under the moniker Moody Gardens Golf Course. It is currently undergoing a $17 million comprehensive renovation, including the addition of new turf grass, green complexes, elevations, irrigation, drainage, cart paths, greens and a full clubhouse renovation.[13]

The new course was designed by Jacobsen Hardy Golf Course Design and was constructed to keep historical features of the course while improving certain holes and course flow. The par 72 course measures 6,900 yards from the back tees, with 5 sets of tees to accommodate all playing abilities.[13]

Moody College of Communication[edit]

On November 7, 2013, a ceremony was held to celebrate the donation of $50 million from the Moody Foundation to the University of Texas at Austin College of Communication, changing its name to the Moody College of Communication and funding many new projects and college objectives. This is the largest donation in the college's history.[14][15]

Trustees[edit]

Current[edit]

Former[edit]

See also[edit]

References[edit]

External links[edit]

Coordinates: 29°18′17″N 94°47′38″W / 29.3047°N 94.7938°W / 29.3047; -94.7938