Current News

This year has been like no other, as the Foundation has broken records in giving more than $32.6 Million to the University of South Alabama from July 1, 2021 through June 2, 2022.

  • The Foundation contributions are:
    • $1,151,219 for scholarship support, including $750,000 for the Whiddon Scholars program;
    • $3,236,356 for faculty support, including support of 36 professorships;
    • $7,101,871 for academic programs including:
      • $469,450 for USA Foundation Research Fellowships and graduate assistantship stipends;
      • $220,000 for Faculty Development Fund, for faculty travel support;
      • $3,900,000 for support of USA Health for equipment for the Mitchell Cancer Institute;
      • $1,236,894 for Clinical Support Fund;
      • $722,470 for Hospital Equipment; and
      • $20,000 for the USA South CARES Fund and USA Jag Pantry Fund.
    • $21,151,000 for the expansion/renovation of the College of Medicine Medical Sciences Building.

(Please see Detail 2022 for the complete listing.)

  • The University of South Alabama President Jo Bonner presented an update on the University of South Alabama.
  • At its June 2, 2022, meeting, the Foundation Board received the following reports:
    • Net assets at March 31, 2022, were $426,001,000.
    • Timber investments were valued at $174,438,000.
    • Equity investments were valued at $232,943,000.
    • Other investments and assets were valued at $18,620,000, at March 31, 2022.
    • Management and general expenses were 0.63% of net assets, well below the national average of 1.0-1.5%.
  • The Foundation Board elected Mr. Normond B. McAllister, Jr. to the unexpired term for Class II Director with term to expire March 31, 2026.