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University of South Alabama Foundation Endowment Fund

Name: University of South Alabama

Assets Under Management: $492.9 Million (Source: University of South Alabama Foundation on 9/30/2013)

Annual Report: University of South Alabama 2013 Financial Report

Portfolio Insights: “In fiscal 2013, the University of South Alabama celebrated its 50 years of service to the community, recognizing the transformational impact the institution has made on the Gulf Coast region and beyond by providing a higher standard of education; better health care; a stronger economy; enhanced art, cultural and entertainment opportunities; and, above all, a greater quality of life for all citizens. During its 50th anniversary year, USA continued to see its academic reputation reach higher levels as reflected by record enrollment, an increase in the number of high-quality students, and a growing number of degrees awarded by the University.

Historic growth amid challenging economic times is attributed to the personal commitment of University faculty and staff, the addition of numerous new facilities and programs to improve the learning environment and campus life, and USA’s continued commitment to preserve the integrity of its academic programs. (Source)

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Top University of South Alabama Foundation Endowment Fund Headlines:

1) Jul 20, 2014 – For the fourth straight year, the University of South Alabama’s Board of Trustees has raised tuition and fees, along with increases for student housing and meal plans. USA’s tuition and fees will increase by 3.5 percent for the 2014-15 academic year, from $8,310 in 2013-14 to $8,610. Housing fees will increase by an average of 3 percent and the student meal plans will rise by an average of 2.5 percent. About 2,000 of USA’s 15,000 students live on campus. (Source)

2) The net assets of the University of South Alabama Foundation increased by more than $34.8 million between the 2010 and 2011 fiscal year, foundation officials said Thursday. As of June 30, the foundation’s assets totaled more than $299 million, up from more than $264 million the year before, according to Maxey Roberts, the foundation’s director.

Roberts attributed the 12 percent increase to the growth in the foundation’s equity portfolio. In another matter, Roberts said the foundation is about to make its second payment on the Brookley property the foundation purchased from USA a year ago.

A year ago foundation board decided to buy 300 acres from USA. The foundation agreed to pay $20 million over five years in annual $4 million installments for the 300 acres at USA Brookley Center. USA closed all of its facilities on the property, including the housing portion of the property, forcing renters to move. (Source)

3) Jun 10, 2014 – The University of South Alabama Foundation approved $2 million in contributions to the university during its June 5 meeting. The money goes to scholarships, professorships and university programs.

Included in the semi-annual contribution of $2,007,077 was $375,000 to the Whiddon Scholars Program, $110,000 to the faculty development fund, $133,400 to the USA Foundation Research Graduate Assistantships fund and $85,000 to the technology program fund.

The June contribution brings the foundation’s total contributions to the university to $4,490,373 for the fiscal year 2014, which ends June 30. The foundation gave a similar amount, about $4.4 million, to the university in the 2012-13 fiscal year. (Source)

4) The University of South Alabama Foundation, an endowment foundation that operates separately from the University, purchased University-owned property at the Brookley Aeroplex, which in turn allowed the University to fund the expansion of the hospital.

The nautically themed 200,000 sq. foot hospital tower will soon enter its second phase of refurbishment and is expected to be complete by May 2014, but the hospital will host a community open house on Sunday, Sept. 15 from 2-5 p.m.. The services offered at Children’s & Women’s Hospital were described as being special by Administrator Owen Bailey. (Source)

5) The University of South Alabama Foundation’s assets increased by $24,801,000 during its fiscal year ended June 30, 2006. The Foundation provided contributions to the University of South Alabama totaling $6,074,000 during their fiscal year. Maxey Roberts, managing director, reported that the Foundation’s net assets were $265,701,000 at June 30, 2005 and $290,502,000 at June 30, 2006 for an increase of 9.3%. The Foundation provided $6,074,000 in support of programs, scholarships and faculty positions to the University of South Alabama, including more than $1,788,000 to the Mitchell Cancer Institute (for a total of $10,168,000 in support to the institute to date). (Source)

About Richard C. Wilson