Rice University announced on Wednesday that it had received a donation of $ 100 million from the Moody Foundation. The donation equals Rice’s record for largest private donation in history, matching a $ 100 million donation from the Robert A. Welch Foundation to establish the Welch Institute, which focuses on advanced materials research.
Rice will use the Moody Gift to build a new student center – the Moody Center for Student Life and Opportunity – which will replace the existing Rice Memorial Center. Plans call for it to be designed by Sir David Adjaye d’Adjaye Associates, an architect whose other work includes the National Museum of African American History and Culture at the Smithsonian Institution.
A portion of the donation will also create endowments supporting student opportunities and success, both within the center and in other areas of the university.
“As a Rice University alumnus, I know this gift will have a profound and lasting effect on campus and its students,” said Elle Moody, Trustee of the Moody Foundation and Rice University. “This investment supports more than just a building. We invest in every student, so that they have access to any endeavor, be it leadership, artistic, athletic, global or more.
Rice is home to approximately 4,000 undergraduate students and just over 3,000 postgraduate students. As part of her plan for growth, Rice’s undergraduate enrollment would reach 4,800, and her graduate enrollment would also increase so that the total student body would rise to around 9,000 by the year. fall 2025. Currently ranked 24th best national university in the country by UKTN, Rice is one of the smallest elite research universities in the United States.
The new student center will be a central part of Rice’s recently announced plans for a 20% expansion of the undergraduate student body by fall 2025. In addition to the new student center, Rice’s enrollment growth plan includes :
- open a twelfth residential college and increase the number of students living on campus,
- the addition of approximately 50 full-time professors so that it can maintain the existing undergraduate student-faculty ratio,
- the construction of additional facilities such as a new engineering building and a new building for visual and dramatic arts,
- enhance its research capabilities by focusing on some of its unique areas of academic excellence in materials, clean energy and new technologies research for national security.
The planned expansion follows an approximately 35% increase in undergraduate enrollment between fall 2005 and 2013, in addition to growth in Rice’s graduate programs. If he reaches his 2025 goal, Rice will have seen his student numbers increase by about 80% in two decades. Part of the growth comes from the increasingly generous financial aid that Rice introduced, known as Rice Investment.
The groundwork for the new student center project is scheduled for early 2022. Some components of the existing student center such as the chapel and cloisters will be integrated into the new design. Construction is expected to be completed by the end of 2023.
About Moody Foundation
The Moody Foundation was established by WL Moody Jr. and Libbie Shearn Moody in 1942. William Moody was an entrepreneur from Galveston, Texas, who founded a bank and insurance company, in addition to his charitable foundation. Over the years, the Foundation, with assets exceeding $ 1 billion, has pledged and awarded over $ 1.8 billion in grants to various organizations throughout the state of Texas, including several other donations to Rice. The Moody Foundation operates under the direction of a board of three directors: Frances Moody-Dahlberg, Ross Moody and Elle Moody.