$6,320,039 contributed by the USA Foundation to the University of South Alabama at the December 15, 2022, meeting of the Foundation Board of Directors.
- Highlights of the Foundation’s semi-annual contributions are:
- $401,237 for scholarship support of more than 100 scholarships, including the Whiddon Honors Scholars;
- $1,460,308 for faculty support, including support of 36 professorships;
- $4,458,494 for academic programs including:
- $226,700 for USA Foundation Research Fellowships and graduate assistantship stipends;
- $110,000 for Faculty Development Fund, for faculty travel support;
- $2,068,481 for support of USA Health for projects and equipment at USA Hospital, to include a Patient Discharge Unit and 2 CT Scanners, and at USA Children’s and Women’s Hospital, to include funding the construction of an MRI Vault and equipping an 8th operating room;
- $638,714 for Clinical Support Fund for College of Medicine Faculty;
- $373,800 for Hospital Equipment.
- $884,900 to facilitate the construction of a state-of-the-art Whiddon College of Medicine.
(Please see Detail 2023 for complete listing.)
With the semi-annual contribution for the Whiddon College of Medicine, total contributions of the $30 million commitment are $22,035,900.
The Board approved the Form 990 and related tax forms. The Board also adopted a resolution commending the life of service of June Ledyard Whiddon, the widow of Dr. Frederick P. Whiddon and the First Lady of the University of South Alabama. Her children, John Whiddon, a member of the Foundation Board, and Karen Whiddon Peterson, a faculty member at the University, were presented with the resolution. (Please see Resolution – June Ledyard Whiddon.)
At its December 15, 2022. Meeting, the Foundation Board received the following reports:
- Net assets at September 30, 2022 were $375,765,000.
- Timber Investments were $174,140,000.
- Marketable securities (equities) were valued at $183,991,000.
- Other assets were $17,634,000.
- Management and general expenses were 0.74% of the net assets.