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Brookley Concept Plan

Resolution:
Mrs. Ellen Fulton Green

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CURRENT NEWS

$9,621,648 was contributed by the Foundation to the University of South Alabama, for the fiscal year ending June 30, 2017. The contributions support faculty, scholarships and academic programs.


The Foundationís contributions included:
  • $1,042,796 for scholarships, including $750,000 for the Whiddon Honors Program;
  • $2,229,594 for faculty support, including support of 34 professorships and $220,000 for the faculty development fund to support travel;
  • $6,349,258 for academic programs, including:
    • $476,473 for support of the USA Foundation Research Fellowship and graduate assistantship stipends;
    • $3.4 Million for the Biplane Lab and GI equipment;
    • $1,076,124 for the Clinical Support Fund for clinical faculty; and
    • $622,010 for Hospital Equipment.

At its June 8th meeting, the USA Foundation Board recognized Dr. Jeanne Sylvestre, a long-term member of the Foundation Board of Directors and a professor emerita of the University of South Alabama in its Department of Accounting, for her gift in endowing the Dr. Jeanne Sylvestre Endowed Scholarship in Accounting and her legacy gift to create the Dr. Jeanne Sylvestre Endowed Chair of Accounting and the Sylvestre Endowed Chair of Music.

The Foundation Board welcomed its newest Board members: Mr. Allen Carroll, Dr. Damian Collins and Dr. Scott McNair. Mr. Carroll serves as the managing partner of Wilkins Miller accounting firm. Dr. Damian Collins is a physician with Diagnostic and Medical Clinic of Mobile and the alumni representative. Dr. Scott McNair is a physician and partner/owner of Greater Mobile Urgent Care. All are graduates of the University of South Alabama.
The USA Foundation Board recognized the service and stewardship of Mrs. Ellen Fulton Green since the inception of the University of South Alabama and the Foundation, including her service as a member of the Board of the Foundation from 2007 until 2017, and designated Mrs. Green as a Director Emerita. Mrs. Green began her service and support of the mission of the University of South Alabama in 1963, at which time her husband, Mr. Aubrey D. Green, began his service as an original Trustee of the University of South Alabama, and then as he served as President of the Foundation and as a Board member.
   
The Foundation Board received reports on the Foundation assets at March 31, 2017.
  • Net assets were $365,538,000.
    • Timberland was valued at $159,704,000.
    • Equity investments were valued at $127.2 Million.
    • Real estate, including the Brookley property, was valued at $69,040,000.
    • Management and general expenses averaged 0.52% of net assets.
The Foundation Board received a report by Ms. Betty McIntosh of Cushman & Wakefield on the most recent steps in marketing the Brookley property. As a part of the marketing approach, Cushman & Wakefield/EGS has prepared an Offering Memorandum and has distributed it to developers. The Offering Memorandum can be found on the Brookley website, www.brookleybythebay.com.
   

 

 

P.O. Box 3148 Mobile, AL 36652-3148 (251) 432-2116 fax (251) 432-2108