Current News

More than $9,955,349 contributed by the Foundation to the University in the first six months of fiscal year 2024.

Highlights of the Foundation’s contributions are:

  • $583,634 supporting more than 120 scholarships;
  • $1,858,602 for faculty support, including 38 professorships;
  • $7,513,113 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.

(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 September 30, 2024:

  • Net assets were $459,909,000.
  • Timber investments were $176,558,000.
  • Marketable securities (equities) were valued at $268,902,000.
  • Other assets were $14,449,000.
  • Management and general expenses were 0.73% of net assets.

At its December 12, 2024, meeting, the Board of the Foundation approved a semi-annual contribution that totaled $6,125,200.  The detailed support for scholarships, professorships and academic programs is found at Detail 2025 .  With this approval, a total of $134.1 Million has been provided in support of the University of South Alabama over the last ten years.

Included in the funding was continued funding of the Elekta Unity Vault Project for the Mitchell Cancer Institute and the approval of funding of more than $1.2 Million for a state-of-the-art technology which precisely targets certain tumors, the HistoSonics Edison Histotripsy System.

The Form 990 and related tax returns were approved by the Board.  The Form 990 is an informational return that provides information on the activities of the Foundation and its support of the University of South Alabama.

Dr. Doug Marshall, Dean of the Honors College, provided an update on the growth of the College and new developments and two students presented their experiences as Honors students and their research work.  The Foundation has provided $18,625,000 since 1998 in support of the Honors College.

The Board thanked John and Kathryn McMillan for establishing, in honor of their son, the William Fleming McMillan Scholarship, and the Foundation has been named a remainder beneficiary of a special needs trust for the benefit of William Fleming McMillan.  The scholarship will be for students from Baldwin County High School in Bay Minette, Alabama.