Bookmark and Share
Facebook
Twitter
LinkedIn

MARY MOODY NORTHEN, INCORPORATED

MARY MOODY NORTHEN, INCORPORATED. Mary Moody Northen, Incorporated, a private charitable foundation based in Galveston, was established in 1964 by Mary Moody Northen, businesswoman and philanthropist. She started the foundation primarily to sustain projects concerned with environmental matters, historical preservation, and higher education. Upon the death of her father, William Lewis Moody, Jr., in 1954, Northen had assumed command of more than fifty family corporations, including American National Insurance Company, City National Bank of Galveston, a national hotel company, and a large number of ranching operations. She increased her inheritance through her financial investments. When she died in 1986, she left the bulk of her estate to Mary Moody Northen, Incorporated. As part of the bequest, she stipulated that the foundation trustees oversee the restoration of the Moody family home in Galveston as a museum for the history of business and commerce and the free-enterprise system. The seven-year, $10 million restoration resulted in the Moody Mansion and Museum, a historical house museum with unique sound and lighting effects and original furnishings and memorabilia of the Moody family. In the early 1990s the foundation focused its efforts primarily on the operation of the museum and on the development of the Wilderness Conservancy and the Mountain Lake Hotel in Virginia. Northen had acquired the hotel and surrounding acreage in 1968, in the hopes of creating a natural sanctuary where families could enjoy the beauty of the region while learning how to live compatibly with nature. In 1990 the assets of the foundation were valued in excess of $44 million, including the Moody Mansion and the Mountain Lake properties, which were held as program-related assets. The foundation was managed by its trustees.

Citation

The following, adapted from the Chicago Manual of Style, 15th edition, is the preferred citation for this article.

"MARY MOODY NORTHEN, INCORPORATED," Handbook of Texas Online (http://www.tshaonline.org/handbook/online/articles/vrmmn), accessed September 23, 2014. Uploaded on June 15, 2010. Published by the Texas State Historical Association.