$150 million for 150 years

Austin's Huston-Tillotson receives largest-ever donation to an HBCU

Huston-Tillotson University president and CEO Dr. Melva K. Wallace, Ross Moody, and Elle Moody

Huston-Tillotson University president and CEO Dr. Melva K. Wallace tearfully accepts the donation from Ross and Elle Moody.

Photo by Kevin Garner

A college local to Austin is making national news thanks to an enormous donation. Huston-Tillotson University (HT) announced September 18, during the university’s annual President’s Fall Opening Convocation, that it has received a donation of $150 million from the Moody Foundation, a family foundation based in Galveston. According to a press release, that's the largest-ever single donation to any Historically Black College or University (HBCU).

Fittingly, the university is celebrating 150 years since it opened in 1875. It now offers more than 19 areas of study and a range of degrees from associate's to master's. It is also on the National Register of Historic Places.

“This gift is a testament to faith, prayer, and the genuine belief in the goodness of others,” said university president and CEO Dr. Melva K. Wallace, as quoted in the release. “I am forever grateful to the Moody Foundation trustees Ross Moody, Elle Moody, and Francie Moody-Dahlberg. Their donation will completely transform Huston-Tillotson, as well as the city of Austin, and set us up for success for another 150 years.”

The release says the gift is "focused on students" and will bring about a number of changes that will "transform" the university. Some areas of improvement will be "student living, academic spaces, innovative scholarships, and a series of endowments," as well expansions of the university's influence through "strategy, culture, marketing, and development infrastructure."

This is not the first time the Moody Foundation has supported the university, but it far surpasses past donations, which previously totaled at least $1.3 million by the university's count. The relationship between the school and the foundation go back to 1968.

“We hope this gift, focused on the students, can become a catalyst, a spark, the beginning of something transformative for students, this city, and the future of Huston-Tillotson,” said Moody Foundation trustee Ross Moody. “We believe in the vision of Huston-Tillotson and the extraordinary leadership of Dr. Wallace and the board. Our family has been part of the university’s past, but we are even more excited to be a part of its promising future.”

The Moody Foundation gives to many sectors in Texas including the arts, education, environment, and more. This donation is part of a $1 billion pledge (that's 15 percent) to education in Texas by 2035.

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holiday budgeting news

This is how much Austinites are budgeting for holiday gifts in 2025

Holiday gifts 2025, Christmas presents, gift giving

Photo by Samantha Gades on Unsplash

Austinites are expected to spend nearly $1,800 on their holiday gifts this year, the report found.

Residents living in Austin's well-to-do suburbs Cedar Park and Round Rock aren't stressing about stretching their holiday spending this year, according to a new report from WalletHub.

Cedar Park gift givers are expected to spend a whopping $3,028 on their festive presents, says WalletHub's 2025 "Holiday Budgets by City" report. Cedar Park ranked No. 31 in the report's list of U.S. cities with the largest holiday budgets.

To determine the U.S. cities with the biggest holiday budgets, WalletHub's experts compared 558 cities across five categories: Income, age, a debt-to-income ratio, residents' monthly income-to-monthly expenses ratio, and their savings-to-monthly expenses ratio.

According to the study's methodology, a consumer is considered to be in a "comfortable financial position to engage in holiday spending if they have: 1) enough emergency savings to cover at least six months of expenses and 2) a debt-to-income ratio smaller than 22 percent for a renter or 43 percent for a homeowner."

Cedar Park's current holiday budget is just $98 higher than it was in 2024, and it's also much higher than the $2,354 projected budget from the 2023 report.

Residents living in Cedar Park's festive neighbor Round Rock are expected to spend $2,641 on their holiday gifts this year, or $103 more than last year. According to WalletHub's ranking, this North Austin suburb has the 47th largest holiday budget nationwide in 2025.

Compared to its wealthy neighbors, Austin residents are expected to rein in their spending when compared to last year, the report revealed. Austin proper ranked 130th on the list with a $1,786 projected holiday budget this year, or $119 less than last year's budget.

Regardless of the dollar amount, Austinites should pay attention to their spending and pick a budget that works for their financial situation, experts say. The National Retail Federation expects holiday sales to surpass $1 trillion this year, and the report warns credit card debt is a major challenge faced by many Americans as they plan their holiday shopping sprees.

"The holidays bring plenty of joy, but they can also spark seasonal stress, much of it tied to overspending," the report's author wrote. "In Q3 2025, the average household carried $10,227 in credit card debt, up 2.3 percent from the year before, according to WalletHub data. Adding holiday shopping on top of that can quickly increase the financial strain, especially if balances roll into the new year."

The three U.S. cities that boast the loftiest holiday budgets are Palo Alto, California (No. 1); Mountain View, California (No. 2); and Newton, Massachusetts (No. 3). Palo Alto residents are expected to spend nearly $4,500 on their Christmas gifts this year, with the latter cities budgeting for $4,266 and $4,069, respectively.

Other Texas cities that ranked among the top 100 biggest holiday spenders include:

No. 4 – Flower Mound ($3,941)
No. 12 – Frisco ($3,491)
No. 19 – Pearland ($3,277)
No. 20 – The Woodlands ($3,265)
No. 22 – Sugar Land ($3,191)
No. 28 – Allen ($3,055)
No. 34 – League City ($2,997)
No. 40 – Plano ($2,812)
No. 55 – McKinney ($2,502)
No. 56 – Carrollton ($2,498)
No. 82 – Richardson ($2,146)
No. 96 – North Richland Hills ($1,985)

holiday budgets holidays christmas wallethub austin suburbs round rock cedar park