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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 Rice Shearn Moody "to benefit, in perpetuity, present and future generations of Texans."
A key provision of UPMIFA states that: "Subject to the intent of a donor expressed in the gift instrument an institution may appropriate for expenditure or accumulate so much of an endowment fund as the institution determines is prudent for the uses, benefits, purposes, and duration for which the endowment fund is established. [7]
The name of the fund comes from the purpose of the fund: a sum of equity used to permanently generate payments to maintain some financial obligation. Also, a fund can only be classified as a permanent fund if the money is used to report the status of a restricted financial resource.
Apr. 15—AAround $53 billion in state assets sit with the New Mexico State Investment Council. That's over five times more than the record-breaking $10.21 billion budget the governor in March ...
Permanent School Fund: 55.624 August 2022 [4] Commodity / petroleum: 3 Permanent University Fund: 31.763 August 2022 [5] 4 New Mexico: New Mexico State Investment Council Permanent Funds 31.000 December 2020 [6] Petroleum: 5 Wyoming: Wyoming Permanent/Endowment Funds 12.6: March 2017 [7] Minerals 6 North Dakota: North Dakota Legacy Fund: 8.2 ...
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The bank's trust department administers the Moody Foundation and the Libbie Shearn Moody Trust, which together own the majority of ANICO's shares. [ 4 ] [ 5 ] [ 6 ] Moody National Bank is a wholly owned subsidiary of Moody Bancshares, Inc., a privately owned financial holding company, also based in Galveston. [ 6 ]
The investment yields a return that funds a portion of an institution's operational expenses while the principal exists in perpetuity. U.S. colleges and universities maintain some of the largest endowments in the world and make up the vast majority of higher education institutions with endowments greater than $1 billion.