A philanthropic organization announced Tuesday that it would dispense a massive gift of $1 billion in grants to help boost Texas education over the next 20 years.
Texas-based nonprofits or public stakeholders working in education will be able to benefit from annual grants provided by the Moody Foundation’s Education M-Pact Fund.
“Our goal is to fuel student success in areas of deepest impact and greatest need, while providing the opportunity for every Texan to access a high-quality education,” explained Ross Moody, Moody Foundation trustee, in a news release.
The Moody Foundation is based in Galveston and has been working for over 80 years toward “building a bigger, better future for Texans” through community-focused initiatives, according to its website.
Its recent commitment to education with the Education M-Pact Fund will focus on building early learning and post-secondary success among Texas students. These two “ends of that barbell” were identified by Moody Foundation trustees as critical points where the grants can “make the most impact,” as Moody told the Houston Chronicle.
“Education has the ability to transform the lives of these kids and the communities where they live,” he added.
Public education in Texas has been under considerable strain amid declining student enrollment figures, campus security policy shifts, teacher shortages, and more, as covered in The Dallas Express. Moreover, studies have suggested that students nationwide have yet to recover from learning shortfalls emerging in the wake of the lockdowns during the pandemic.
The Moody Foundation’s Education M-Pact Fund will aim to support evidence-based programs seeking to bolster the more vulnerable sectors of education in Texas, including special education, students’ mental health, and the educator workforce.
This isn’t the Moody Foundation’s first foray into the realm of education.
In 2019, it gave $100 million to Southern Methodist University’s Moody School of Graduate and Advanced Studies and $130 million to the University of Texas at Austin to construct a new basketball arena and events venue, now named the Moody Center. In 2021, it funded a student center and student opportunities at Rice University through a $100 million gift.
For the new fund, the Moody Foundation will begin fielding applications for grants on January 15 for the first cycle and April 15 for the second cycle of 2024. Approved grant awards are scheduled to be dispensed in July and October for each cycle, respectively.
Please refer to the foundation’s website for more information about the Education M-Pact Fund and eligibility requirements,