The Moody Foundation in Galveston has announced a $50 million commitment to the University of Texas at Austin's College of Communication to create the largest endowment at a public university in the United States dedicated to the study of communication.
The gift will be used to create endowments in support of various academic initiatives as well as the construction of new facilities at the college, which will be renamed the Moody College of Communication. Among other things, the gift will be used to establish a $10 million Innovation Fund that invests in new curricula, courses, online education, research, and student activities; five endowments of $1 million each in support of departmental leaders and course and curricular development; ten endowments of $1 million each for the college's research and community outreach centers; a $7 million fund to support undergraduate curricular and co-curricular work, including the creation of the Moody Scholars Program; and a $13 million fund to provide additional teaching and research fellowships for graduate students. The remaining $5 million, with an additional $5 million from the university, will fund classroom renovations and construction of three new lecture halls, conference space, and a pedestrian bridge.
"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," said Ross Moody, a UT Austin alumnus and trustee of the Moody Foundation. "It's a huge honor to have the Moody name attached to a college that is so well known around the state and nation."
"For a number of years we've wanted to offer in-service training for media professionals, but we haven't had the space or luxury of [implementing] it," Roderick Hart, the dean of the college, told the Daily Texan. "This really is a transformational gift that will enhance the local and national visibly of the college."