$10,597,497 contributed by the USA Foundation to the University of South Alabama through June 30, 2020.
- The Foundation’s contributions included:
- $750,000 for the Whiddon Scholars in the Honors College;
- $2,632,222 for faculty support, including support of 34 chairs and professorships;
- $472,000 for USA Foundation Research Fellowships and graduate assistantship stipends;
- $220,000 for Faculty Development Fund supporting faculty travel;
- $3,663,220 for critically important equipment for the Fanny Meisler Trauma Center;
- $1,113,748 for Clinical Support and $646,888 for Hospital Equipment.
(Please see the Detail 2020 for the complete listing)
- At its August 27, 2020, meeting, (via Zoom), the Foundation Board approved and adopted the audited consolidated financial statements for June 30, 2020, and June 30, 2019, as audited by Deloitte & Touche.
- Net assets at June 30, 2020, were $387,123,000, compared to $383,512,000 at June 30, 2019.
- Timber investments were valued at $167,790,000 at June 30, 2020, as compared to $163,804,000 at June 30, 2019.
- Equity investments were valued at $157,457,000 at June 30, 2020, as compared to $150,796,000 at June 30, 2019.
- Other investments and assets, including the Brookley property, were valued at $61,876,000 at June 30, 2020.
- Management and general expenses were 0.60% of net assets, well below the national average of 1.0-1.5%.
- The Foundation Board approved the distribution of up to $5,600,051 from the Disproportionate Share Hospital Funds in the fiscal year 2021 to provide the following funding:
- $1,140,292 to provide support to clinical faculty;
- $ 663,656 to provide funding for hospital equipment;
- $3,796,103 to support the USA hospitals and clinics, which amount will be determined by the Foundation Board, in response to a request, proposal and recommendation by the University administration.
- At June 30, 2020, the legacy gifts of Dr. Jeanne Sylvestre have funded four chairs in accounting, music, chemistry, and computing. Additionally, partial funding for graduate support was provided.
- The Board received an update from President Tony Waldrop on the re-opening of the University in the Fall, 2020, and enrollment in the Fall, 2020.
- The Board welcomed Dr. John Cleary, new President of the USA Faculty Senate.
- The Board extended its appreciation to Mr. Patrick Dungan, who served as President of the USA National Alumni Association.
- The Board of Directors has provided funding for three Nurses Stations in the new Fanny Meisler Trauma Center, in honor of Trauma Nurses. This contribution is provided in lieu of the annual Night Honoring Heroes.
- The Foundation will serve as the Presenting Sponsor of Celebrate Hope, the annual event supporting the Mitchell Cancer Institute. To be held in mid-November, it will have a different look due to the current pandemic.
- The Foundation Board is appreciative of and applauds the efforts of the USA Health team who serve on the frontline during these challenging times, as well as the faculty, staff, students and administration as the University re-opens.