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Brookley Concept Plan

Resolution:
Mrs. Ellen Fulton Green

Read the Latest Newsletter

CURRENT NEWS

$9,771,000 was contributed by the Foundation to the University of South Alabama, during the fiscal year ended June 30, 2017. The contributions support faculty, scholarships and academic programs.


The Foundation’s contributions included:
  • $1,136,289 for scholarships, including $750,000 for the Whiddon Scholars in the Honors Program;
  • $2,229,594 for faculty support, including 34 professorships;
  • $6,405,253 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.
   
The Foundation Board approved and adopted the audited financial statements for the Foundation, for the fiscal year ended June 30, 2017. Deloitte & Touche audited the financial statements and gave an unqualified opinion.
   
Net assets at June 30, 2017, were $365,243,000, compared to $353,404,000 at June 30, 2016, or an increase of $11,839,000. The increase was attributed to increases in equity (stocks) and timber investments.
  • At June 30, 2017, the equity investments (stocks) were valued at $129,674,000, with a return of 14.96%. The net investment included the amount redeemed to fund contributions to the University and expenses.
  • The timberland investment was valued at $159,904,000 at June 30, 2017, compared to $157,004,000 at June 30, 2016.
  • Interest in real estate was valued at $69,186,000 at June 30, 2017, which included the value of the Brookley property at $60,820,000.
   
The Foundation Board received a report on the Disproportionate Share Hospital Funds (DSH Funds) with targeted distributions from the DSH Funds of $5,175,786 for fiscal year 2017-2018. At its December 7, 2017, meeting, the Board will consider recommendations by the University for funding of proposed programs that benefit the hospitals and clinics.
   
The Board received an update on the marketing efforts of Cushman & Wakefield for the sale of the Brookley property and additional information relating to the Brookley property.
   
On September 13, the Foundation with the USA Department of History will present the 11th Annual N. Jack Stallworth Lecture with the guest lecturer, Dr. Laura Edwards, Duke University, who will speak on “The Reconstruction Rights and the Legal System following the Civil War.” The lecture will be at 7:00 p.m. at The Laidlaw Performing Arts Center.
   
On September 19, at 7:00 p.m. at the Student Center Ballroom, the Foundation with the USA Department of Political Science and Criminal Justice will present the Fifth Annual Judge Harry J. Wilters, Jr. Lecture. Mr. John Berry of the Florida Bar will speak on “The Revolutionary State of Legal Ethics.”
   
On October 10, the Foundation will serve as the Title Sponsor for the inaugural event, “A Night Honoring Heroes” reception and dinner. This event will highlight first responders and medical professionals and the Trauma Center at the USA Medical Center.
   
The USA Foundation was established on March 1, 1968 and celebrates 50 years of supporting the University of South Alabama – $163 Million to date and growing.
   

 

 

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