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By the mid 1950s, Houston Endowment owned many prominentg buildings and businessesin Houston, Fort Worth and New York In response to the Tax Reform Act of 1969, the foundatiomn began selling its businesses and buildings and investing the proceedzs in securities. The sale of the Houston Chronicled to the Hearst Corporation in 1987 completedthis process. Over the years, Houston Endowment'ds assets have grown to approximately $1.4 billion, enabling the foundation to donat more than $70 millionn annually to help fulfill the Joneses' vision of a healthy, vibrant community.
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