$5,318,445 contributed by the USA Foundation to the University of South Alabama through December 31, 2020.
- The Foundation’s contributions included:
- $375,000 for the Whiddon Scholars in the Honors College;
- $1,345,739 for faculty support, including support of 36 chairs and professorships;
- $219,900 for USA Foundation Research Fellowships and graduate assistantship stipends;
- $110,000 for Faculty Development Fund supporting faculty travel;
- $1,898,051 for equipment for the new USA Health Freestanding Emergency Department;
- $570,146 for Clinical Support and $331,828 for Hospital Equipment.
(Please see the Detail 2021 for the complete listing)
- At its December 10, 2020, meeting, (via Zoom), the Foundation Board received the following reports:
- Net assets at September 30, 2020, were $401,901,000.
- Timber investments were valued at $167,740,000.
- Equity investments were valued at $173,277,000.
- Other investments and assets, including the Brookley property, were valued at $60,884,000 at September 30, 2020.
- Management and general expenses were 0.61% 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. The Board acted to approve the proposal and recommendation by the University administration for equipment for the new USA Health Freestanding Emergency Department.
- The Board received a report on the sale of the Brookley property.
- The Board approved the Form 990 and related informational tax returns.
- The Board welcomed Mr. Jim Moore, who is the new President of the USA National Alumni Association.
- 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.