$5,525,000 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;
- $1,346,000 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 March 4, 2021, meeting, (via Zoom), the Foundation Board received the following reports:
- Net assets at December 31, 2020, were $416,061,000.
- Timber investments were valued at $169,140,000.
- Equity investments were valued at $216,694,000.
- Other investments and assets, including the Brookley property, were valued at $30,227,000 at December 31, 2020.
- Management and general expenses were 0.56% of net assets, well below the national average of 1.0-1.5%.
- The Board received a report on the sale of the Brookley property. 196.6 acres of the Brookley Property were sold for $30,958,795 to the City of Mobile and the Industrial Development Board of the City of Mobile on December 18, 2020. Wetlands of approximately 45 acres are to be sold to the City of Mobile, and the Industrial Development Board has an option on the remaining 50 acres of the Brookley property.
- Mr. McMillan, President on the USA Foundation, acknowledged the leadership of Dr. Waldrop and thanked him for his participation on the USA Foundation Board. He said that he has great respect for his decision to follow the career of his wife, Dr. Julee Waldrop.
- The Board unanimously adopted a resolution thanking Mr. Al Johnson for his service on the Board of the Foundation and also for his decision to follow the career of his wife, Dr. Jennifer Johnson.
- The Board received a report from Dr. John Cleary, President of the USA Faculty Senate. Dr. Cleary recognized the efforts of the faculty in achieving a safe environment for students and faculty while teaching in person or remotely during this challenging year. He highlighted the establishment of a Diversity and Inclusion Committee that has worked to develop guidelines to attract and recruit diverse faculty and efforts to build and retain diversity in the faculty.
- The Board received a review by Dr. Harold Pardue, Dean of The Graduate School and Associate Vice President for Academic Affairs, of the USA Talent Development Program. The program will deliver talent development to meet the workforce needs of the community and region. Two USA Foundation Research Fellows, Ms. Amber Surles and Ms. Addison Grissett, spoke of their research in cybersecurity development and speech pathology, respectively.
- 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.