Current News

More than $11,345,000 contributed by the Foundation to the University in the first eight months of fiscal year 2025. Highlights of the Foundation’s contributions are:
  • $634,287 supporting more than 120 scholarships;
  • $1,876,724 for faculty support, including 38 professorships;
  • $8,833,665 for academic programs including:
    • $226,700 for USA Foundation Research Fellows/graduate assistant support;
    • $178,396 for the new Sylvestre Graduate Student Support Fund;
    • $2,052,990 for the 2nd year of funding for the Elekta Unity Vault Project in the Mitchell Cancer Institute;
    • $692,911 for support of the clinical faculty in the Whiddon College of Medicine;
    • $407,175 for hospital equipment; and
    • $3,539,600 for the Whiddon College of Medicine contribution; and
    • $1,261,000 for a revolutionary non-invasive technology to target tumors, the HistoSonics Edison Histotripsy System.
(Please see Detail 2025 for the complete listing.) Total contributions toward the $30 Million commitment for the Frederick P. Whiddon College of Medicine are $28,230,200. As of December 31, 2024:
  • Net assets were $455,819,000.
  • Timber investments were $177,958,000.
  • Marketable securities (equities) were valued at $263,309,000.
  • Other assets were $14,552,000.
  • Management and general expenses were 0.72% of net assets.
The Board of Directors announced that Mr. Greg Luce and his sister, Margaret Luce Brown (Mrs. Milton Brown), established the Dr. John Mayer Wilson Surgery Resident Award Fund to recognize, on an annual basis, an outstanding resident who specializes in general surgery.  The award honors their grandfather, Dr. John Mayer Wilson, who was a renowned surgeon in the Mobile region in the first half of the 20th century. The Board thanked Mr. Luce and Mrs. Brown for this gift that will have an impact on general surgery residents at the University of South Alabama and carries out the mission of the Foundation in supporting the programs of the University.  Mr. Luce has served on the Foundation Board since 2007 and serves as Chair of the Investment Committee. The Board received a report from Dr. Harold Pardue, Dean of the Graduate School and Associate Vice President for Academic Affairs, who presented an update on the Graduate School.  Two USA Foundation Research Fellows spoke of their research and experiences.   The USA Foundation supports 22 Research Fellows annually and has since 2008. The Board welcomed Dr. Russell Goode, President of the USA Medical Alumni Association, to the meeting and thanked him for his service in support of the University of South Alabama.