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Moody Foundation

Moody Foundation

Location

2302 Post Office St Galveston TX United States 77550

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About Business

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.Foundation descriptionThe 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 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.Financial informationThe 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.


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