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Resolution:
Dr. Jeanne Sylvestre

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Brookley Concept Plan

CURRENT NEWS - Celebrating 50 Years!

$9.8 Million contributed by the USA Foundation to the University of South Alabama for the fiscal year 2017-2018.


Mr. John McMillan, President of USA Foundation, presents semi-annual contribution check to President Tony Waldrop and Chairman of the Board of Trustees, Judge Ken Simon, and Vice-Chairman of the Trustees, Mr. Jimmy Shumock, during the June 14, 2018 meeting.
The Foundation’s contributions for fiscal year 2018 included but are not limited to:
  • $750,000 for the Whiddon Scholars in the Honors College;
  • $2,241,859 for faculty support, including support of 34 professorships;
  • $474,200 for USA Foundation Research Fellowships and graduate assistantship stipends;
  • $220,000 for Faculty Development Fund of faculty travel support;
  • $3,470,098 for the purchase of two da Vinci surgical robots XI;
  • $62,500 for the Alumni Center, which is the second of four contributions totaling $250,000; and
  • $1,080,484 for Clinical Support in the College of Medicine.
The USA Foundation Board of Directors recognized the many contributions and service of Dr. Jeanne Sylvestre, who died on April 14, 2018. The Foundation announced that Dr. Sylvestre provided a legacy gift estimated to be $10 Million to the USA Foundation. Dr. Sylvestre’s legacy gift will not only provide for the funding of the Dr. Jeanne Sylvestre Chair in Accounting and the Sylvestre Family Chair in Music, but also support for academic programs.

Dr. Sylvestre had served on the Foundation Board since 2009 and as Treasurer since 2013. She was an active member of the Board, dedicated to the mission of the Foundation, and was a professor emerita of the University of South Alabama. She held her Bachelor and Master degrees from the University of South Alabama and her doctoral degree in accounting from the University of Georgia. She taught in the Department of Accounting in the Mitchell College of Business for thirty years, was selected by the Faculty Senate as one of the 50 Outstanding Faculty on the occasion of the University’s 50th anniversary, served as Department Chair for many years, and was passionate about higher education and teaching. In June, 2017, Dr. Sylvestre endowed the Dr. Jeanne Sylvestre Scholarship in Accounting and through legacy gifts established the Dr. Jeanne Sylvestre Chair in Accounting and the Sylvestre Family Chair in Music. (Please see Resolution-Dr. Jeanne Sylvestre link.)

The USA Foundation Board of Directors elected Dr. Frank S. Pettyjohn, a professor emeritus in the USA College of Medicine, to fill the Class One Director position, with a term through March 31, 2023, left vacant by the death of Dr. Sylvestre. Mr. Robert P. Hall, II, was elected to fill the position of Treasurer.
The Board received a report on the financial statements and the equity (stock) investments:
  • The net assets at March 31, 2018, were $369,807,000, as compared to net assets at June 30, 2017, of $365,243,000. The increase was due primarily to realized and unrealized gains on the equity (stock) investments.
  • The interest in equity investments, at March 31, 2018, was valued at $133,710,000, and preliminary numbers at June 13, 2018, had equity investments valued at $140,000,000. The volatility of the equity markets during the first half of the calendar year 2018 was noted.
  • The timberland investment was valued at $158,004,000, at March 31, 2018.
  • At March 31, 2018, interest in real estate was valued at $69,162,000, including the Brookley property, valued at $60,820,000. Other investments were valued at $5,808,000.
The Board received an update on the Brookley property and the importance of that property from an ecosystem value.
The Foundation Board met in the USA Student Recreation Center and Dr. Krista Harrell, Associate Dean of Students and Title IX Coordinator, provided an overview of the Division of Student Affairs and spoke of the importance of the Student Recreation Center for student life. She highlighted the many activities available through the facility, which serves as a central part of campus life, as well as through intramural and sport clubs activities. Dr. Harrell spoke of the goal of Student Affairs seeking to develop wellness, in mind and body, for students and skills that students could take with them into life after the University experience.

The Foundation Board had a tour of the facility following the meeting.

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