$10,828,884 contributed by the USA Foundation to the University of South Alabama through June 10, 2021.
- The Foundation contributions included:
- $1,119,790 for scholarship support, including $750,000 for the Whiddon Scholars program;
- $2,694,099 for faculty support, including support of 36 professorships;
- $7,014,995 for academic programs including:
- $480,900 for USA Foundation Research Fellowships and graduate assistantship stipends;
- $220,000 for Faculty Development Fund, for faculty travel support;
- $3,796,102 for support of USA Health for equipment for the new Freestanding Emergency Department;
- $1,140,292 for Clinical Support Fund;
- $663,656 for Hospital Equipment;
- $40,000 for South Cares Fund and USA Health Pandemic Emergency Fund; and
- $75,000 for three nurse stations in the Fanny Meisler Trauma Center.
(Please see Detail 2021 for the complete listing.)
- At its June 10, 2021, meeting, (via Zoom), the Foundation Board received the following reports:
- Net assets at March 31, 2021, were $424,112,000.
- Timber investments were valued at $170,290,000.
- Equity investments were valued at $224,003,000.
- Other investments and assets, including the Brookley property, were valued at $29,819,000, at March 31, 2021.
- Management and general expenses were 0.55% of net assets, well below the national average of 1.0-1.5%.
- Mr. McMillan, President of the USA Foundation, welcomed as a Board member, Dr. John Smith, Acting President of the University of South Alabama.
- Mr. McMillan welcomed Mrs. Beth Rugan Shepard, newly elected President of the USA Faculty Senate and Associate Librarian of the University Library and Instruction Coordinator Librarian in the Reference and Instruction Department of the Marx Library.
- The Board unanimously elected D. Lynn Dyess, M.D., F.A.C.S., to fill the unexpired Class II Director position.
- The Board received a report on the University of South Alabama from Mr. Jimmy Shumock, Chair pro tempore of the University of South Alabama Board of Trustees, and Dr. John Smith, Acting President.
- 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 during this challenging year.