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Brookley Concept Plan

Resolution:
Mrs. Ellen Fulton Green

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CURRENT NEWS

$4,685,039 was approved to be contributed by the Foundation to the University of South Alabama, as the semi-annual contribution in December, 2017. The contributions support faculty, scholarships and academic programs.


The Foundationís contributions included but are not limited to:
  • $375,000 for the Whiddon Scholars in the Honors Program;
  • $1,007,929 for faculty support, including 36 professorships;
  • $217,550 for USA Foundation Research Fellowships and graduate assistantship stipend support;
  • $110,000 for Faculty Development Fund for faculty travel support;
  • $62,500 for the Alumni Center, which is the second of four contributions totaling $250,000;
  • $540,242 from the Clinical Support Fund;
  • $312,602 from the Hospital Equipment Fund; and
  • $1,735,049 for the purchase of two da Vinci surgical robots Xi.
Net assets at September 30, 2017, were $370,033,000, compared to $365,243,000 at June 30, 2017, or an increase of $4,790,000. The increase was attributed to increases in equity (stocks) investments.
  • At September 30, 2017, the equity investments (stocks) were valued at $134,939,000.
  • The timberland investment was valued at $158,904,000 at September 30, 2017.
  • Interest in real estate was valued at $69,177,000 at September 30, 2017, which included the value of the Brookley property at $60,820,000.
arrow The Board received an update from Mr. Marc Schneidau of Silvant Capital Management, one of the Foundationís external equity managers, on the Foundationís portfolio with Silvant and expectations for the coming year.
arrow 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 approved a distribution of $2,587,893 which included funding of the purchase of two da Vinci surgical robots Xi. Drs. Marymont and Finan spoke to the importance of these robots in patient care and treatment and training. These will provide robotic surgical capacity at USA Medical Center and an upgraded surgical robot at USA Childrenís and Womenís Hospital. Mr. Owen Bailey addressed the importance of this equipment for the continued growth of USA Health.
arrow The Board received an update on the marketing of the Brookley property and additional information relating to the Brookley property.
arrow The Board was provided a report on the Honors College by Dr. Kathy Cooke, Dean of the Honors College, and two Whiddon Honors students, Mr. Juan Pardo , a senior in biomedical sciences and finance, and Ms. Raven McShan, a junior in secondary education and English. The Honors College currently has more than 240 students enrolled with expected enrollment to grow over the next five years to 500. The Foundation has provided support to the Whiddon Honors Scholarship program since 1998.
arrow The USA Foundation was established on March 1, 1968 and celebrates 50 years of supporting the University of South Alabama Ė $168 Million to date and growing.

 

 

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