Simplify the following text for a Grade 9 native English-speaking person.
Original: Moody Bible Institute ( MBI ) is a Christian institution of higher education and related ministries that was founded by evangelist and businessman Dwight Lyman Moody in 1886 .
Simplified: Moody Bible Institute ( MBI ) is an institute located in Chicago on the Near North Side . In 1886 , it was started by evangelist and businessman Dwight Lyman Moody .