Mr. John McMillan, Inauguration as Alabama State Treasurer on January 14, 2019, in Montgomery, Alabama.
$4,657,137 contributed by the USA Foundation to the University of South Alabama as its semi-annual contribution in the fiscal year 2019.
- The Foundation’s semi-annual contribution in December, 2018, included:
- $375,000 for the Whiddon Scholars in the Honors College;
- $1,022,230 for faculty support, including support of 35 professorships;
- $217,550 for USA Foundation Research Fellowships and graduate assistantship stipends;
- $110,000 for Faculty Development Fund supporting faculty travel;
- $1,684,425 for technology projects supporting the USA Hospitals, including a new MRI and specialized monitoring for the Small Baby Unit;
- $854,566 for Clinical Support and Hospital Equipment in the College of Medicine and other hospital equipment.
(Please see Detail 2019 link on the Support page for complete listing.)
- Mr. Wade Faulkner, Jr., was introduced and welcomed as the Investment Manager for the Foundation. Mr. Faulkner will be joining the Foundation on March 1, 2019.
- The Foundation Board received a report on the financial statements and the equity (stock) investments:
- The net assets at September 30, 2018, were $384,278,000, as compared to net assets at June 30, 2018, of $374,210,000. The increase was due primarily to realized and unrealized gains on the equity (stock) investments.
- Equity investments, at September 30, 2018, were valued at $149,168,000.
- The timberland investment was valued at $158,504,000 at September 30, 2018.
- At September 30, 2018, interest in real estate was valued at $69,154,000, including the Brookley property, valued at $60,820,000. Other investments were valued at $5,805,000.
- The Foundation Board received a report by two Honors students and Dr. Kathy Cooke, Dean of the Honors College, on developments and activities in the Honors College.