$10,862,630 contributed by the USA Foundation to the University of South Alabama for the fiscal year ended June 30, 2021.
- The Foundation contributions included:
- $1,129,555 for scholarship support, including $750,000 for the Whiddon Scholars program;
- $2,694,099 for faculty support, including support of 36 professorships;
- $7,038,976 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 August 26, 2021, meeting, (via Zoom), the Foundation Board received the following reports:
- Net assets at June 30, 2021, were $435,943,000.
- Timber investments were valued at $170,938,000.
- Equity investments were valued at $238,006,000.
- Other investments and assets, including the Brookley property, were valued at $26,999,000, at June 30, 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 Dr. Lynn Dyess, Professor of Surgery at the USA College of Medicine, as a new Board member.
- Mr. Jim Moore, President of the USA National Alumni Association, provided an update on the National Alumni Association. Mr. Moore expressed appreciation to the Board for the Foundation’s support of the Alumni Association and the MacQueen Alumni Center.
- The Foundation Board is appreciative of and applauds the efforts of the USA Health team serving on the frontline during these challenging times, as well as the faculty, staff, students and administration during this challenging year.