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To support the University of South Alabama, balancing current contributions with future growth.
Since 1990, the Foundation has contributed more than $127 Million in support of the University of South Alabama, its students, faculty and academic programs.
From July 1 through December 31, 2011, the Foundation contributed more than $2,373,966 to the University of South Alabama. The mission of the USA Foundation, to support the University of South Alabama, its faculty, students and academic programs, continued as the Foundation responded as the University defined its critical and most important need as the support of the Pediatric Expansion of USA Children’s and Women’s Hospital. In November, 2010, the Foundation purchased the Brookley campus, as a way to support the Pediatric Expansion. In November, 2011, the Foundation made its second installment payment of $4,000,000 continuing that support.
The net assets of the USA Foundation were $265,823,000, at September 30, 2011, in comparison to $283,496,000 at fiscal year ended June 30, 2011. The decrease is primarily attributed to the decrease in the global equity markets. The equity markets in October restored a significant percentage of the loss.
Philosophy of Endowment Foundations
The central philosophy of endowment foundations is to assure the purchasing power over the long run of the endowment assets, while supporting the current operating needs of an institution. As David F. Swensen, Chief Investment Officer, Yale University, in Pioneering Portfolio Management states:
“Successfully managed endowments retain forever the ability to provide a particular level of institutional support, justifying the classification of endowment funds as permanent assets. Pursuit of long-term asset preservation requires seeking high returns, accepting the accompanying fundamental risk and associated market volatility.”
An endowment foundation balances these two divergent requirements. The Board of Directors of the Foundation evaluates these two forces of endowment accumulation while providing an incremental source of funds to allow the University to be a truly superior one, acting in a prudent manner to meet both objectives. |
