$10,582,219 contributed by the USA Foundation to the University of South Alabama through June 11, 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)
- The Foundation Board received the unaudited consolidated financial statements for the nine- month period ended March 31, 2020.
- The net assets at March 31, 2020, were $370,130,000, as compared to net assets at June 30, 2019, of $383,512,000.
- Equity investments, as of March 31, 2020, were valued at $133,924,000, as the stock market felt the impact of the global pandemic.
- The timberland investment was valued at $167,504,000.
- Other investments and assets, including the Brookley property, were valued at $68,702,000.
- Management and general expenses were 0.61% of net assets, well below the national average of 1.0-1.5%.
- Disproportionate Share Hospital Funds target distributions were $5,423,856 for fiscal year 2020. Those distributions included $646,888 for hospital equipment; $1,113,748 for clinical support of faculty; and $3,663,220 for equipment for the Fanny Meisler Trauma Center.
- The Board of Directors received an update on the University of South Alabama by President Tony Waldrop and Mr. Jimmy Shumock, Chair pro tempore, of the Board of Trustees.