Moody Foundation Gives $50 Million to UT’s College of Communication
Today is a very good day for UT’s College of Communication—make that the Moody College of Communication.
The University announced this morning that the Galveston-based Moody Foundation has given $50 million to the college, which will be renamed in the foundation’s honor. The record-breaking gift is the largest endowment for communication at any public university in the nation.
“By making this gift, the Moody Foundation seeks to increase the presence of the University on a national and international basis and improve the quality of its education by recruiting the best professors, the best administration and in turn having the best students coming out of the Moody College of Communication,” Ross Moody, BBA ’84, a trustee of the foundation, said in a statement.
The endowment will touch on nearly every aspect of the College of Communication, from classroom space and facilities ($5 million) to undergraduate and graduate curricula and recruitment ($5 million and $13 million, respectively). Each of the college’s five departments will be allocated a $1 million endowment, and there will also be a $10 million Innovation Fund to invest in new ideas in teaching, research, and student activities.
“This is truly a legacy gift that will transform all areas of the Moody College and continue to serve the people of Texas,” said Rod Hart, dean of the college, in a statement.
This year has already been a record-breaking one for philanthropy at UT: In August, the University set a new single-year fundraising record of $396 million.
