Moody Foundation
Encyclopedia
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.
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 for projects that focused on education, social services, children’s needs, and community development. 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.
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.
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.
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.
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
.
(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.
In 2005 the foundation expended $38.1 million USD towards supporting and expanding the Transitional Learning Center and its programs.
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.
Texas
Texas is the second largest U.S. state by both area and population, and the largest state by area in the contiguous United States.The name, based on the Caddo word "Tejas" meaning "friends" or "allies", was applied by the Spanish to the Caddo themselves and to the region of their settlement in...
and based in the island city of Galveston. It was chartered in 1942 by William Lewis Moody, Jr.
William Lewis Moody, Jr.
William Lewis Moody Jr. was an American financier and entrepreneur from Galveston, Texas, who founded a private bank, an insurance company, and one of the largest charitable foundations in the United States. Moody was active in the day-to-day operations of his companies until two days before his...
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.
Foundation description
The foundation makes grants through its Galveston, TexasGalveston, Texas
Galveston is a coastal city located on Galveston Island in the U.S. state of Texas. , the city had a total population of 47,743 within an area of...
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 for projects that focused on education, social services, children’s needs, and community development. In terms of assets, it is one of the largest foundations in Texas
Texas
Texas is the second largest U.S. state by both area and population, and the largest state by area in the contiguous United States.The name, based on the Caddo word "Tejas" meaning "friends" or "allies", was applied by the Spanish to the Caddo themselves and to the region of their settlement in...
, and among the top 100 largest charitable foundations in the United States.
Financial information
The foundation's main source of revenueRevenue
In business, revenue is income that a company receives from its normal business activities, usually from the sale of goods and services to customers. In many countries, such as the United Kingdom, revenue is referred to as turnover....
consists of dividends from stock
Stock
The capital stock of a business entity represents the original capital paid into or invested in the business by its founders. It serves as a security for the creditors of a business since it cannot be withdrawn to the detriment of the creditors...
held in the American National Insurance Company
American National Insurance Company
American National Insurance Company is a major American insurance corporation based in Galveston, Texas. The company and its subsidiaries operate in all 50 U.S. states, the District of Columbia, Puerto Rico, and American Samoa.-Company description:...
, the majority of which is controlled by both the Moody Foundation and the Libbie Shearn Moody Trust. The trust department
Trust company
A trust company is a corporation, especially a commercial bank, organized to perform the fiduciary of trusts and agencies. It is normally owned by one of three types of structures: an independent partnership, a bank, or a law firm, each of which specializes in being a trustee of various kinds of...
of the Moody National Bank
Moody National Bank
Moody National Bank is a nationally chartered bank, founded in 1907, that is based in Galveston, Texas, USA.With assets of nearly $1 billion dollars Moody Bank is one of oldest and largest privately owned Texas-based banks. Its trust department, established in 1927, administers over $15.5 billion...
administers the finances of both the Foundation and the Trust.
Major Grants and Initiatives
The foundation commits the majority of its grants and funding to the foundation-initiated projects of Moody GardensMoody Gardens
Moody Gardens is a tourist complex in Galveston, Texas. It is owned, through a complex agreement, by the City of Galveston but funded, operated, and supported by the multi-billion dollar Moody Foundation....
and the Transitional Learning Center
Transitional Learning Center
The Transitional Learning Center ' is a post-acute brain injury rehabilitation facility headquartered in the island city of Galveston, Texas. It was started by the non-profit Moody Foundation in 1982, in response to a brain injury suffered by a son of trustee Robert L. Moody...
, 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.
Moody Gardens
Moody Gardens
Moody Gardens is a tourist complex in Galveston, Texas. It is owned, through a complex agreement, by the City of Galveston but funded, operated, and supported by the multi-billion dollar Moody Foundation....
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.
Moody Gardens features three main attractions: the Aquarium
Aquarium
An aquarium is a vivarium consisting of at least one transparent side in which water-dwelling plants or animals are kept. Fishkeepers use aquaria to keep fish, invertebrates, amphibians, marine mammals, turtles, and aquatic plants...
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
IMAX
IMAX is a motion picture film format and a set of proprietary cinema projection standards created by the Canadian company IMAX Corporation. IMAX has the capacity to record and display images of far greater size and resolution than conventional film systems...
theater, a paddlewheel cruise boat, a hotel and a convention center
Convention center
A convention center is a large building that is designed to hold a convention, where individuals and groups gather to promote and share common interests. Convention centers typically offer sufficient floor area to accommodate several thousand attendees...
.
Transitional Learning Center
The Transitional Learning CenterTransitional Learning Center
The Transitional Learning Center ' is a post-acute brain injury rehabilitation facility headquartered in the island city of Galveston, Texas. It was started by the non-profit Moody Foundation in 1982, in response to a brain injury suffered by a son of trustee Robert L. Moody...
(TLC) is a facility that specializes solely in post-acute brain injury
Acquired brain injury
An acquired brain injury is brain damage caused by events after birth, rather than as part of a genetic or congenital disorder such as fetal alcohol syndrome, perinatal illness or perinatal hypoxia. ABI can result in cognitive, physical, emotional, or behavioural impairments that lead to permanent...
rehabilitation
Rehabilitation (neuropsychology)
Rehabilitation of sensory and cognitive function typically involves methods for retraining neural pathways or training new neural pathways to regain or improve neurocognitive functioning that has been diminished by disease or traumatic injury....
. 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.
In 2005 the foundation expended $38.1 million USD towards supporting and expanding the Transitional Learning Center and its programs.
Galveston Island Municipal Golf Course
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.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.
Current
- Robert L. Moody, Sr., Chairman
- Ross R. Moody
- Frances Moody-Dahlberg