Current News

More than $16,552,872 contributed by the Foundation to the University in fiscal year 2024.

Highlights of the Foundation’s contributions are:

  • $1,230,914 supporting more than 120 scholarships;
  • $3,379,828 for faculty support, including 38 professorships;
  • $11,942,130 for academic programs including:
    • $469,450 for USA Foundation Research Fellows/graduate assistant support;
    • $339,198 for the new Sylvestre Graduate Student Support Fund;
    • the Dauphin Island property valued at $1.92 Million;
    • $4,500,000 for partial funding for the vault for the new Elekta Unity System in the Mitchell Cancer Institute;
    • $1,346,002 for support of the clinical faculty in the Whiddon College of Medicine;
    • $789,582 for hospital equipment; and
    • $1,769,800 for the Whiddon College of Medicine contribution.

(Please see Detail 2024 for the complete listing.)

Total contributions toward the $30 Million commitment for the Frederick P. Whiddon College of Medicine are $24,690,600.

As of June 30, 2024:

  • Net assets were $454,543,000.
  • Timber investments were $177,658,000.
  • Marketable securities (equities) were valued at $262,850,000.
  • Other assets were $14,035,000.
  • Management and general expenses were 0.67% of net assets.

At its August 29, 2024, meeting, the Board of the Foundation approved and adopted the audited financial statements for the Foundation for June 30, 2024.  Deloitte provided a clean audit opinion.

The Board approved a pre-payment of the fiscal year 2027 commitment for the Frederick P. Whiddon College of Medicine, and the Foundation will contribute a total of $3,539,600 in September 2024 toward its commitment to the new College of Medicine of $30 Million.

The Board approved authorizing a total distribution of up to $9,845,751 from the Disproportionate Share Hospital Funds that support the University’s hospitals and clinics.  That amount includes $1,385,822 for support of clinical faculty, $814,350 for hospital equipment, and $4,105,979 to support the University’s hospitals and clinics, to be determined by the Foundation Board in response to requests by the University, as well as the $1,769,800 distribution for the fiscal year 2025 contribution to the Whiddon College of Medicine, in addition to the pre-payment of the contribution for the fiscal year 2027.