2024-12-23T08:20:34-06:00 2024-06-30 861065772 DELOITTE TAX LLP 111 MONUMENT CIRCLE SUITE 4200 INDIANAPOLIS IN 462045108 990 2023-07-01 636065809 UNIVERSITY OF SOUTH ALABAMA FOUNDATION UNIV 2514322116 PO BOX 3148 MOBILE AL 366523148 MAXEY J ROBERTS MANAGING DIRECTOR 2514322116 2024-12-23 1 1 SHAWNA JANSONS P01222873 3174648600 2023 2024-10-15 13:58:12Z MAXEY J ROBERTS PO BOX 3148 MOBILE AL 366523148 16099068 0 X USAFOUNDATION.ORG X 1968 AL TO SUPPORT THE EDUCATIONAL PROGRAMS OF THE UNIVERSITY OF SOUTH ALABAMA. 21 20 12 0 50920 0 68985 11858 0 0 10869553 10558934 913110 768520 11851648 11339312 13260154 16552872 0 0 1621853 1581839 0 0 29242 2037085 2236991 16919092 20371702 -5067444 -9032390 419243148 458334456 965071 1071943 418278077 457262513 X THE UNIVERSITY OF SOUTH ALABAMA FOUNDATION WAS ESTABLISHED TO SUPPORT THE FUNCTIONS AND ACTIVITIES OF THE UNIVERSITY OF SOUTH ALABAMA. CONTRIBUTIONS ARE MADE DIRECTLY TO THE UNIVERSITY FOR AND IN SUPPORT OF STUDENT SCHOLARSHIPS, FACULTY POSITIONS AND PROGRAMS, AND OTHER 0 0 19605729 16552872 CONTRIBUTIONS TO THE UNIVERSITY OF SOUTH ALABAMA. 19605729 1 0 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 1 27 0 1 12 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 21 20 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AL MS X MAXEY J ROBERTS 2514322116 211 N CONCEPTION STREET MOBILE AL 366036477 MAXEY J ROBERTS MANAGING DIRECTOR/BOARD MEMBER 40.00 0.00 X X 362520 0 1730 GREGORY LUCE VICE PRESIDENT/BOARD MEMBER 1.00 0.00 X X 0 0 0 JOHN MCMILLAN PRESIDENT/BOARD MEMBER 1.00 0.00 X X 0 0 0 LOWELL J BONDS SECRETARY/BOARD MEMBER 1.00 0.00 X X 0 0 0 ROBERT P HALL TREASURER/BOARD MEMBER 1.00 0.00 X X 0 0 0 ALEXIS ATKINS BOARD MEMBER 1.00 0.00 X 0 0 0 ANJANETTA DAVIS BOARD MEMBER (BEG. 3/7/2024) 1.00 0.00 X 0 0 0 ARLENE MITCHELL BOARD MEMBER 1.00 0.00 X 0 0 0 D LYNN DYESS BOARD MEMBER 1.00 0.00 X 0 0 0 DAMIAN J COLLINS BOARD MEMBER 1.00 0.00 X 0 0 0 DON WORD BOARD MEMBER 1.00 0.00 X 0 0 0 ELIZABETH VANDEWAA BOARD MEMBER 1.00 0.00 X 0 0 0 ISABEL Z BROWN BOARD MEMBER 1.00 0.00 X 0 0 0 JAMES H CROSBY BOARD MEMBER 1.00 0.00 X 0 0 0 JOHN T WHIDDON BOARD MEMBER 1.00 0.00 X 0 0 0 JOSIAH R BONNER JR BOARD MEMBER 1.00 0.00 X 0 0 0 MARGARET D YOUNG BOARD MEMBER (DECEASED 12/11/2023) 1.00 0.00 X 0 0 0 NOLAN C LEAKE BOARD MEMBER 1.00 0.00 X 0 0 0 NORMOND B MCALLISTER JR BOARD MEMBER 1.00 0.00 X 0 0 0 OTHA LEE BIGGS BOARD MEMBER 1.00 0.00 X 0 0 0 ROBIN MCNAIR BOARD MEMBER (BEG. 12/11/2023) 1.00 0.00 X 0 0 0 W ALLEN CARROLL JR BOARD MEMBER 1.00 0.00 X 0 0 0 BRAD B ROBERTS CHIEF FINANCIAL OFFICER 40.00 0.00 X 263979 0 2134 H WADE FAULKNER INVESTMENT MANAGER 40.00 0.00 X 187847 0 25202 814346 0 29066 3 0 1 0 JONES WALKER LLP N WATER STREET MOBILE AL 36603 LEGAL SERVICES 257913 DELOITTE TOUCHE LLP 420 N 20TH STREET BIRMINGHAM AL 35203 AUDITING & TAX 212233 SUMTER TIMBER CO LLC 25000 AL HWY 28 DEMOPOLIS AL 36732 TIMBER SERVICES 115236 3 11858 2533 11858 3098432 3098432 87751 87751 697434 67585 629849 629849 629849 9576800 2575873 3892215 799956 5684585 1775917 7460502 7460502 HEAVY EQUIPMENT USAGE 110000 38920 38920 ACCOUNTING AND ADMIN. 110000 12000 12000 50920 11339312 0 50920 11276534 16552872 16552872 827257 645559 155903 25795 409850 224069 185781 185355 142724 40778 1853 86723 66777 19079 867 72654 55943 15984 727 251608 193738 57870 228088 175628 52460 439567 439567 74797 57594 17203 51577 39714 11863 39329 30283 9046 2862 2204 658 202194 155689 46505 47738 36758 10980 269862 207794 62068 TIMBER MGT. & MAINT. 222504 222504 PROPERTY TAXES 220268 212632 7636 REPAIRS & MAINTENANCE 100306 77236 23070 DUES & SUBSCRIPTIONS 40782 31402 9380 45509 35042 10467 20371702 19605729 736731 29242 1712816 1814486 120336 32186 182219192 1140700 180994433 181078492 223531896 262849631 10277690 9706245 2605977 2853416 419243148 458334456 855071 961943 110000 110000 965071 1071943 X 64699431 64553099 353578646 392709414 418278077 457262513 419243148 458334456 -9032390 48016826 0 X 0 1 X 1 0 X X 1 UNIVERSITY OF SOUTH ALABAMA 630477348 6 1 14632872 1920000 1 14632872 1920000 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 X SCHEDULE A, PART I, LINE 12G(VI): DURING THE FISCAL YEAR 2024, THE UNIVERSITY OF SOUTH ALABAMA FOUNDATION PROVIDED NON-MONETARY SUPPORT, INCLUDING THE CONTRIBUTION OF APPROXIMATELY 63 ACRES ON DAUPHIN ISLAND, AL VALUED AT $1,920,000 TO SUPPORT RESEARCH AND A LIVING CLASSROOM FOR THE STOKES SCHOOL OF MARINE AND ENVIRONMENTAL SCIENCES AND RELATED PROGRAMS. SCHEDULE A, PART IV, SECTION A, LINE 2: THE UNIVERSITY OF SOUTH ALABAMA FOUNDATION'S SUPPORTED ORGANIZATION IS THE UNIVERSITY OF SOUTH ALABAMA, A STATE UNIVERSITY. SCHEDULE A, PART IV, SECTION D, LINE 3: SERVING ON THE BOARD OF DIRECTORS OF THE USA FOUNDATION ARE THE CHAIRMAN PRO TEMPORE OF THE BOARD OF TRUSTEES OF THE UNIVERSITY OF SOUTH ALABAMA, THE VICE CHAIRMAN OF THE UNIVERSITY BOARD, AND THE PRESIDENT OF THE UNIVERSITY, AS WELL AS A REPRESENTATIVE FROM THE FACULTY OF THE UNIVERSITY AND A REPRESENTATIVE OF THE ALUMNI OF THE UNIVERSITY. THESE INDIVIDUALS PROVIDE A STRONG UNDERSTANDING AND VOICE OF THE NEEDS OF THE UNIVERSITY TO THE FOUNDATION PROVIDING A UNIQUE UNDERSTANDING AND RESPONSIVENESS TO THOSE NEEDS. THE FOUNDATION AND MEMBERS OF THE FOUNDATION BOARD INTERACT WITH THE UNIVERSITY THROUGH A PROCESS THAT INCLUDES INFORMAL MEETINGS WITH UNIVERSITY ADMINISTRATORS AND FOUNDATION REPRESENTATIVES, DISCUSSIONS AND DIALOGUE THROUGH SMALL GROUPS AND FINALLY DISCUSSIONS AND ACTIONS AT FORMAL BOARD MEETINGS. THE REQUESTS FOR SUPPORT OF UNIVERSITY PROGRAMS ARE RECOMMENDED THROUGH THE PRESIDENT OF THE UNIVERSITY TO THE FOUNDATION. SUCH REQUESTS AND DIALOGUE CREATE AN UNDERSTANDING OF THE NEEDS OF THE UNIVERSITY AND RESULT IN THE FOUNDATION'S SUPPORT OF UNIQUE AND CRITICAL UNIVERSITY PROGRAMS, FACULTY NEEDS AND SCHOLARSHIP INITIATIVES, AS DESCRIBED IN THIS SCHEDULE. THE PROCESS OF INTERACTION IS ONGOING AND LEADS TO A CLEAR RESPONSIVENESS AND UNDERSTANDING BY BOTH THE SUPPORTED ORGANIZATION AND THE FOUNDATION. THE REPRESENTATIVES OF THE SUPPORTED ORGANIZATION, WHO SERVE ON THE FOUNDATION BOARD, ACTIVELY PARTICIPATE IN THE DELIBERATIONS OF THE BOARD IN INVESTMENTS, ALLOCATION OF ASSETS, AND INVESTMENT POLICIES THAT ARE BENEFICIAL TO THE LONG-TERM GOALS AND MISSION OF THE FOUNDATION, THE SUPPORT OF THE UNIVERSITY. THE FOUNDATION BOARD ROUTINELY RECEIVES REPORTS ON THE INVESTMENTS OF THE FOUNDATION AND THE RETURNS ON THOSE INVESTMENTS AND SHAPES THE POLICIES OF THE INVESTMENTS AT ALL LEVELS. THE INVESTMENT OF THE BROOKLEY PROPERTY, DESCRIBED IN SECTION IV, E. 1C, IS AN EXAMPLE OF THE ACTIVE PARTICIPATION OF THE REPRESENTATIVES OF THE SUPPORTED ORGANIZATION, NOT ONLY IN WORKING THROUGH A WAY IN WHICH TO SUPPORT A CRITICAL PROGRAM OF THE UNIVERSITY, BUT ALSO IN RECOMMENDING AN INVESTMENT AND IN EVALUATING THE POLICIES RELATING TO SUCH INVESTMENT OVER TIME. ANOTHER EXAMPLE IS THE GIFT TO THE UNIVERSITY FOR THE NEW COLLEGE OF MEDICINE BUILDING. IN THE FALL OF 2021, THE UNIVERSITY REQUESTED THAT THE FOUNDATION PROVIDE FUNDING IN THE AMOUNT OF $30 MILLION TO FACILITATE THE CONSTRUCTION OF A STATE OF THE ART CENTER FOR MEDICAL AND SCIENTIFIC EDUCATION FOR FURTURE PHYSICIANS AND RESEARCH. IN OCTOBER 2021, THE FOUNDATION APPROVED BY RESOLUTION A $30 MILLION GIFT, DETERMINING THAT THE REQUEST FOR FUNDING OF THE MEDICAL SCHOOL FACILITY WOULD BE FOR THE BENEFIT OF THE UNIVERSITY'S HOSPITALS AND CLINICS. IN OCTOBER 2021, THE FOUNDATION PROVIDED $10,151,000 AND CONTRIBUTED PROPERTY VALUED AT $11 MILLION TO THE UNIVERSITY. THROUGH FISCAL YEAR 2024, $24,690,600 HAS BEEN PAID TOWARD THE GIFT. THE BALANCE OF THE GIFT WILL BE CONTRIBUTED TO THE UNIVERSITY OVER THE NEXT FOUR YEARS. SCHEDULE A, PART IV, SECTION E, LINE 1C: THE UNIVERSITY OF SOUTH ALABAMA FOUNDATION'S SUPPORTED ORGANIZATION IS THE UNIVERSITY OF SOUTH ALABAMA, A STATE INSTITUTION, ESTABLISHED BY ACT OF THE LEGISLATURE OF THE STATE OF ALABAMA IN 1963. THE USA FOUNDATION SOLELY SUPPORTS THE UNIVERSITY OF SOUTH ALABAMA, ITS SUPPORTED ORGANIZATION, IN RESPONSE TO THE NEEDS, REQUESTS AND SUGGESTIONS PROPOSED BY THE UNIVERSITY OF SOUTH ALABAMA. THE USA FOUNDATION FURTHER ENGAGES IN ACTIVITIES SUBSTANTIALLY ALL OF WHICH DIRECTLY FURTHER THE EXEMPT PURPOSE OF THE UNIVERSITY OF SOUTH ALABAMA BY PERFORMING THE FUNCTIONS OF, OR CARRYING OUT THE PURPOSE OF, SUCH SUPPORTED ORGANIZATION AND WHICH, BUT FOR THE INVOLVEMENT OF THE USA FOUNDATION (THE SUPPORTING ORGANIZATION), WOULD NORMALLY BE CARRIED OUT BY THE UNIVERSITY OF SOUTH ALABAMA. IN SUPPORT OF THE UNIVERSITY OF SOUTH ALABAMA, THE FOUNDATION HAS PROVIDED MORE THAN $267 MILLION SINCE 1990 SUPPORTING ACADEMIC PROGRAMS, SCHOLARSHIPS AND FACULTY SUPPORT, ALL OF WHICH ARE RESPONSIVE TO THE UNIVERSITY OF SOUTH ALABAMA AND WHICH WOULD OTHERWISE REQUIRE THE UNIVERSITY OF SOUTH ALABAMA, THE SUPPORTED ORGANIZATION, TO CARRY OUT OR SUPPORT OR PERFORM. THE FOLLOWING ARE HIGHLIGHTS OF THE FOUNDATION'S SUPPORT OF THE UNIVERSITY OF SOUTH ALABAMA AND ITS RESPONSIVENESS TO REQUESTS BY THE UNIVERSITY OF SOUTH ALABAMA. THE LIST ILLUSTRATES THE SUPPORT PROVIDED TO MORE THAN 120 SCHOLARSHIPS, 38 PROFESSORSHIPS, NATIONALLY-RECOGNIZED LECTURERS AND NUMEROUS ACADEMIC PROGRAMS. IN 2010 AND IN FURTHERANCE OF THE FINANCIAL SUPPORT BY THE FOUNDATION TO THE UNIVERSITY IN CARRYING OUT ITS CRITICAL MISSION IN HEALTHCARE/ACADEMIC MEDICINE AND IN RESPONSE TO THE REQUEST OF THE SUPPORTED ORGANIZATION, THE FOUNDATION PROVIDED $20 MILLION TO THE UNIVERSITY BY PURCHASING A 327-ACRE PROPERTY (THE BROOKLEY PROPERTY) OWNED BY THE SUPPORTED ORGANIZATION. THIS PURCHASE PROVIDED CRITICAL SUPPORT FOR AN EXPANSION OF THE UNIVERSITY'S CHILDREN'S AND WOMEN'S HOSPITAL, WHICH, IN TURN, PROVIDED A CORE SERVICE AND ACADEMIC FOCUS OF THE SUPPORTED ORGANIZATION'S COLLEGE OF MEDICINE AND HEALTHCARE SYSTEM. THE FOUNDATION'S PURCHASE ALLOWED THE EXPANSION TO MOVE FORWARD, THEREBY FACILITATING AND CARRYING OUT THE PURPOSE OF THE SUPPORTED ORGANIZATION. IN DECEMBER 2020, THE FOUNDATION SOLD 197 ACRES OF THE BROOKLEY PROPERTY TO THE CITY OF MOBILE FOR $31 MILLION WHILE RETAINING THE REMAINING 95 ACRES VALUED AT $11 MILLION. IN THE FALL OF 2021, THE UNIVERSITY REQUESTED THAT THE FOUNDATION PROVIDE FUNDING IN THE AMOUNT OF $30 MILLION TO FACILITATE THE CONSTRUCTION OF A STATE OF THE ART CENTER FOR MEDICAL AND SCIENTIFIC EDUCATION FOR FUTURE PHYSICIANS AND RESEARCH. IN OCTOBER 2021, THE FOUNDATION APPROVED BY RESOLUTION A $30 MILLION GIFT, DETERMINING THAT THE REQUEST FOR FUNDING OF THE MEDICAL SCHOOL FACILITY WOULD BE FOR THE BENEFIT OF THE UNIVERSITY'S HOSPITALS AND CLINICS. IN OCTOBER 2021, THE FOUNDATION PROVIDED $10,151,000 AND CONTRIBUTED THE REMAINING 95 ACRES OF THE BROOKLEY PROPERTY, VALUED AT $11 MILLION, TO THE UNIVERSITY. THROUGH FISCAL YEAR 2024, $24,690,600 HAS BEEN CONTRIBUTED TOWARD THE GIFT. THE BALANCE OF THE GIFT WILL BE CONTRIBUTED TO THE UNIVERSITY OVER THE NEXT THREE YEARS. OTHER PROGRAMMATIC SUPPORT INCLUDES $469,450 TO PROVIDE NEEDED SUPPORT TO 22 GRADUATE FELLOWSHIPS AND STIPEND SUPPORT TO 132 OTHER GRADUATE ASSISTANTSHIPS. THIS RECURRING ANNUAL SUPPORT WAS AT THE REQUEST OF THE UNIVERSITY WHEN ITS NEW GRADUATE PROGRAMS WERE APPROVED. BUT FOR THAT SUPPORT, THE UNIVERSITY OF SOUTH ALABAMA COULD NOT HAVE PROVIDED FUNDING FOR THOSE GRADUATE ASSISTANTSHIPS CRITICAL FOR THOSE PROGRAMS OF THE SUPPORTED ORGANIZATION TO BE COMPETITIVE IN ATTRACTING HIGH CALIBER STUDENTS. TOTAL CONTRIBUTED FOR THESE PROGRAMS TO DATE IS $7,483,498. THE UNIVERSITY OF SOUTH ALABAMA FOUNDATION SUPPORTS 38 PROFESSORSHIPS CRITICAL TO THE MISSION OF THE UNIVERSITY OF SOUTH ALABAMA. THE FOUNDATION CONTRIBUTED $2,119,618 IN SUPPORT OF THESE PROFESSORSHIPS WHICH THE UNIVERSITY WOULD HAVE TO FUND IF NOT FOR THE ACTIVITIES AND EFFORTS OF THE UNIVERSITY OF SOUTH ALABAMA FOUNDATION. ANNUALLY THE FOUNDATION PROVIDES $750,000 IN SCHOLARSHIP FUNDS FOR THE WHIDDON/HONORS SCHOLARS PROGRAM WITHIN THE HONORS COLLEGE AT THE UNIVERSITY OF SOUTH ALABAMA. THE FOUNDATION HAS PROVIDED $18,250,000 TO THE PROGRAM SINCE 1998. THE HONORS COLLEGE ENROLLS APPROXIMATELY 200 STUDENTS WHO ARE GUIDED THROUGH A RIGOROUS RESEARCH AND ACADEMIC PROGRAM BY FACULTY MENTORS. THE HONORS COLLEGE PROGRAM ENABLES THE UNIVERSITY OF SOUTH ALABAMA TO RECRUIT STUDENTS OF EXCELLENCE, RAISING THE BAR OF THE EDUCATIONAL EXPERIENCE FOR ALL. THE FOUNDATION HAS PROVIDED KEY SUPPORT TO THE MITCHELL CANCER INSTITUTE OF THE UNIVERSITY OF SOUTH ALABAMA. TO DATE, THE UNIVERSITY OF SOUTH ALABAMA FOUNDATION HAS CONTRIBUTED $31,673,804 TO THE MITCHELL CANCER INSTITUTE. THIS SUPPORT INCLUDES FOUR CRITICAL FACULTY POSITIONS, INCLUDING THE EXECUTIVE DIRECTOR OF THE INSTITUTE, TOTALING $365,106 FOR THE FISCAL YEAR 2024, ENABLING THE UNIVERSITY TO RECRUIT AND RETAIN INTERNATIONALLY RECOGNIZED RESEARCHERS AND ACADEMICIANS IN THIS CRITICALLY IMPORTANT PROGRAM OF THE UNIVERSITY. IN THE FISCAL YEAR 2016, THE FOUNDATION COMPLETED ITS INITIAL $12 MILLION COMMITMENT OF SUPPORT, WHICH WAS A CORE BASIS IN ESTABLISHING THE INSTITUTE. DURING THE FISCAL YEAR 2024, THE UNIVERSITY OF SOUTH ALABAMA FOUNDATION PROVIDED $8,405,384 FROM THE FOUNDATION'S DISPROPORTIONATE SHARE HOSPITAL FUNDS TO SUPPORT UNIVERSITY OF SOUTH ALABAMA HOSPITALS. THIS SUPPORT INCLUDED $4,500,000 TO FUND CONSTRUCTION OF THE NEW ELEKTA UNITY SYSTEM AT THE MITCHELL CANCER INSTITUTE, AS REQUESTED BY THE UNIVERSITY TO MEET ITS KEY NEEDS TO SUPPORT THE CONTINUED GROWTH OF ITS CENTERS OF EXCELLENCE IN HEALTHCARE. THE SUPPORT ALSO INCLUDED $1,346,002 TO SUPPORT FACULTY THROUGH THE CLINICAL SUPPORT FUND, AND $789,582 TO THE HOSPITAL EQUIPMENT FUND CRITICALLY IMPORTANT IN FURTHERING THE HEALTHCARE AND TEACHING MISSION OF THE UNIVERSITY OF SOUTH ALABAMA. 418278077 11858 59344280 16552872 3818830 457262513 390898779 68985 44229405 13260154 3658938 418278077 438035146 2594520 -13286149 32671350 3773388 390898779 389017438 511675 63091545 10862630 3722882 438035146 385213830 5294604 12773777 10597497 3667276 389017438 0.14120 0.40130 0.45750 0 0 179784840 179784840 1532833 614541 918292 388214 360660 27554 513305 165499 347806 181078492 DEPOSITS 110000 110000 PART V, LINE 4: THE UNIVERSITY OF SOUTH ALABAMA FOUNDATION'S ENDOWMENT IS COMPRISED OF INDIVIDUAL FUNDS TO BE USED FOR SPECIFIC SCHOLARSHIPS, FACULTY POSITIONS, AND ACADEMIC PROGRAMS. THESE ENDOWMENT FUNDS WERE CREATED FROM INITIAL GIFTS OR CONTRIBUTIONS WITH THE INCOME AND APPRECIATION GENERATED FROM THESE FUNDS USED TO FUND VARIOUS SCHOLARSHIPS, FACULTY POSITIONS, AND ACADEMIC PROGRAMS FOR THE UNIVERSITY OF SOUTH ALABAMA. 1 UNIVERSITY OF SOUTH ALABAMA 307 N UNIVERSITY BOULEVARD MOBILE AL 36688 630477348 GOVERNMENT ENTITY 14632872 1920000 APPRAISAL REAL PROPERTY SCHOLARSHIPS, FACULTY POSITIONS, AND OTHER SUPPORT 1 0 PART I, LINE 2: THE UNIVERSITY OF SOUTH ALABAMA FOUNDATION FUNDS VARIOUS SCHOLARSHIPS, FACULTY POSITIONS, AND OTHER SUPPORT TO THE UNIVERSITY OF SOUTH ALABAMA. THE UNIVERSITY OF SOUTH ALABAMA DETERMINES ELIGIBILITY AND AWARDING OF SCHOLARSHIPS TO WORTHY STUDENTS. THE UNIVERSITY ALSO DETERMINES THE PLACEMENT OF FACULTY POSITIONS AND CURRENT NEED FOR SUPPORT OF OTHER MORE SPECIFIC PROGRAMS. FUNDING TO THE UNIVERSITY IS BASED ON PERCENTAGE OF THE FOUNDATION'S NET ASSETS. X X X X 0 0 0 0 0 0 0 0 0 MAXEY J ROBERTS MANAGING DIRECTOR/BOARD MEMBER 361902 0 0 0 618 0 0 0 1730 0 364250 0 0 0 BRAD B ROBERTS CHIEF FINANCIAL OFFICER 263703 0 0 0 276 0 0 0 2134 0 266113 0 0 0 H WADE FAULKNER INVESTMENT MANAGER 187055 0 0 0 792 0 0 0 25202 0 213049 0 0 0 FORM 990, PART III, LINE 1, DESCRIPTION OF ORGANIZATION MISSION: RELATED ACTIVITIES OF THE UNIVERSITY. EXAMPLES INCLUDE PROVIDING $31,673,804 IN TOTAL SUPPORT TO THE MITCHELL CANCER INSTITUTE, A MAJOR UNIVERSITY UNDERTAKING AND PROGRAM SUPPORT TO THE MEDICAL SIMULATION PROGRAM, FUNDING 22 NEW GRADUATE ASSISTANTSHIPS CRITICAL IN THE SUPPORT OF NEW GRADUATE PROGRAMS LAUNCHED BY THE UNIVERSITY, AS WELL AS PROVIDING STIPEND SUPPORT TO THE GRADUATE ASSISTANT PROGRAM, TOTALING $7,483,498 TO DATE. OTHER PROGRAM SUPPORT INCLUDES $750,000 ANNUALLY TO SUPPORT SCHOLARSHIPS FOR STUDENTS IN THE HONORS PROGRAM, THAT HAS TOTALED $18,250,000 OVER THE PERIOD SINCE INCEPTION, AS WELL AS PROVIDING FINANCIAL SUPPORT TO 38 FACULTY POSITIONS, SUPPORT OF 151 DESIGNATED SCHOLARSHIPS, A TOTAL COMMITMENT OF $500,000 TO A FUND TO SUPPORT THE COLLEGES OF ENGINEERING AND COMPUTING AND TO NUMEROUS ONGOING ACADEMIC PROGRAMS. ADDITIONALLY, THE FOUNDATION ENGAGES IN ONGOING DIALOGUE WITH THE UNIVERSITY COMMUNITY, ITS FACULTY AND STUDENTS THROUGH RECEPTIONS, LECTURES, LUNCHEONS AND OTHER EVENTS. AS A FURTHER EXAMPLE OF THE SUPPORT BY THE FOUNDATION IN ACTIVITIES TO SUPPORT THE UNIVERSITY, IN 2010 AND IN FURTHERANCE OF THE FINANCIAL SUPPORT BY THE FOUNDATION TO THE UNIVERSITY IN CARRYING OUT ITS CRITICAL MISSION IN HEALTHCARE AND ACADEMIC MEDICINE, THE FOUNDATION PURCHASED A 327 ACRE PROPERTY, THE BROOKLEY CAMPUS, FROM THE UNIVERSITY, WHICH PURCHASE OF $20 MILLION SUPPORTED THE COMPLETION OF AN EXPANSION AT THE UNIVERSITY'S CHILDREN'S AND WOMEN'S HOSPITAL. ANOTHER EXAMPLE IS THE $30 MILLION GIFT FOR THE NEW MEDICAL SCHOOL BUILDING. THROUGH FISCAL YEAR 2024, THE FOUNDATION HAS CONTRIBUTED $24,690,600 TOWARDS THE GIFT. SERVING ON THE BOARD OF DIRECTORS OF THE USA FOUNDATION ARE THE CHAIRMAN PRO TEMPORE OF THE BOARD OF TRUSTEES OF THE UNIVERSITY OF SOUTH ALABAMA, THE VICE CHAIRMAN OF THE UNIVERSITY BOARD, THE PRESIDENT OF THE UNIVERSITY, AS WELL AS A REPRESENTATIVE FROM THE FACULTY OF THE UNIVERSITY AND A REPRESENTATIVE OF THE ALUMNI OF THE UNIVERSITY PROVIDING A UNIQUE UNDERSTANDING AND RESPONSIVENESS TO THOSE NEEDS. THE FOUNDATION AND THE MEMBERS OF THE FOUNDATION BOARD INTERACT WITH THE UNIVERSITY THROUGH A PROCESS THAT INCLUDES INFORMAL MEETING WITH UNIVERSITY ADMINISTRATORS AND FOUNDATION REPRESENTATIVES, DISCUSSIONS AND DIALOGUE THROUGH SMALL GROUPS AND FINALLY DISCUSSIONS AND ACTIONS AT FORMAL BOARD MEETINGS. THIS BASIS OF DIALOGUE CREATES AN UNDERSTANDING OF THE NEEDS OF THE UNIVERSITY AND HAS RESULTED IN THE FOUNDATION'S SUPPORT OF UNIQUE AND CRITICAL UNIVERSITY PROGRAMS, FACULTY NEEDS AND SCHOLARSHIP INITIATIVES, AS DESCRIBED IN THIS SCHEDULE. THIS PROCESS OF INTERACTION IS ONGOING AND LEADS TO A DEPTH OF RESPONSIVENESS AND UNDERSTANDING BY BOTH THE UNIVERSITY AND THE FOUNDATION. OVER THE LAST TEN YEARS, NEARLY $129 MILLION HAS BEEN CONTRIBUTED TO THE UNIVERSITY, REFLECTING THE CENTRAL PHILOSOPHY OF ENDOWMENT FOUNDATIONS TO SUPPORT CURRENT NEEDS, WHILE ASSURING THE PURCHASING POWER IN THE FUTURE ENDOWMENT ASSETS AND PRESERVING STRONG ENDOWMENT ASSETS TO ASSURE SUPPORT OF THE MANY PROGRAMS AND SERVICES, AS WELL AS THE FACULTY AND STUDENTS OF THE UNIVERSITY. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS PREPARED BY THE FOUNDATION'S MANAGEMENT AND INDEPENDENT TAX CONSULTANTS. UPON COMPLETION, FORM 990 IS SUBMITTED TO THE FOUNDATION'S INVESTMENT AND AUDIT COMMITTEE AND THEN TO THE BOARD OF DIRECTORS FOR APPROVAL. FORM 990, PART VI, SECTION B, LINE 12C THE UNIVERSITY OF SOUTH ALABAMA FOUNDATION HAS A WRITTEN CODE OF CONDUCT AND ETHICS POLICY ("CODE") FOR ITS DIRECTORS, OFFICERS, AND EMPLOYEES. WITHIN THE CODE, THE FOUNDATION HAS INCORPORATED ITS CONFLICT OF INTEREST POLICY. THE FOUNDATION REVIEWS THE POLICY ANNUALLY AND REQUIRES ALL FOUNDATION DIRECTORS, OFFICERS, AND EMPLOYEES TO COMPLETE A CONFLICT OF INTEREST QUESTIONNAIRE DISCLOSING ANY CONFLICTS. FORM 990, PART VI, SECTION B, LINE 15 THE UNIVERSITY OF SOUTH ALABAMA FOUNDATION DETERMINES COMPENSATION OF MANAGEMENT AND KEY EMPLOYEES INITIALLY THROUGH A REVIEW OF RELEVANT DATA AND AN INDEPENDENT COMPENSATION STUDY. THE INFORMATION IS PRESENTED TO THE FOUNDATION'S INVESTMENT AND AUDIT COMMITTEE FOR ITS REVIEW AND ACTION WITH RESPECT TO COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 THE UNIVERSITY OF SOUTH ALABAMA FOUNDATION PROVIDES TO THE PUBLIC ACCESS TO ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS. ALL SUCH DOCUMENTS ARE MADE AVAILABLE UPON REQUEST. FURTHER, THE FOUNDATION'S ARTICLES OF INCORPORATION ARE FILED IN THE PROBATE COURT OF MOBILE COUNTY, ALABAMA, AND THE FOUNDATION MAKES AVAILABLE TO THE PUBLIC ITS GOVERNING DOCUMENTS. THE FOUNDATION'S AUDITED FINANCIAL STATEMENTS ARE FORWARDED TO THE UNIVERSITY OF SOUTH ALABAMA AND MADE AVAILABLE TO THE LOCAL NEWSPAPER UPON REQUEST. THE UNIVERSITY OF SOUTH ALABAMA FOUNDATION'S FORM 990 IS AVAILABLE ON REQUEST, AND THE FOUNDATION ALSO DISCLOSES ITS NET ASSETS ON ITS WEBSITE. KNOLLWOOD DEVELOPMENT INC PO BOX 3148 MOBILE AL 366523148 631053940 REAL ESTATE AL UNIVERSITY OF SOUTH ALABAMA FOUNDATION C 1513073 1.00000 1 SHUBUTA TIMBER SERVICES INC PO BOX 3148 MOBILE AL 366523148 631234748 TIMBER SERVICES MS UNIVERSITY OF SOUTH ALABAMA FOUNDATION C 36545 72944 1.00000 1 0 0 0 0 0 0 0 0 0 1 0 1 1 0 0 1 0 0 0 SHUBUTA TIMBER SERVICES P 194000