UNIVERSITY OF SOUTH ALABAMA FOUNDATION: Form 990, tax year 2022
View the entire original 990 at ProPublica ↗
- Organization
- UNIVERSITY OF SOUTH ALABAMA FOUNDATION (EIN 63-6065809)
- Tax period
- 2022-07-01 to 2023-06-30
- Filed
- 2023-12-12
- IRS object ID
- 202323469349300937
- Schema version
- 2022v5.0
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2023-12-12T15:09:25-06:00 | ReturnTs |
| Tax Period End | 2023-06-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 861065772 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | DELOITTE TAX LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 111 MONUMENT CIRCLE SUITE 4200 | AddressLine1Txt |
| City | INDIANAPOLIS | CityNm |
| State Abbreviation | IN | StateAbbreviationCd |
| ZIP | 462045108 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2022-07-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 636065809 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | UNIVERSITY OF SOUTH ALABAMA FOUNDATION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | UNIV | BusinessNameControlTxt |
| Phone | 2514322116 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 3148 | AddressLine1Txt |
| City | MOBILE | CityNm |
| State Abbreviation | AL | StateAbbreviationCd |
| ZIP | 366523148 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | MAXEY J ROBERTS | PersonNm |
| Person Title | MANAGING DIRECTOR | PersonTitleTxt |
| Phone | 2514322116 | PhoneNum |
| Signature | 2023-12-12 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | MAXEY | PersonFirstNm |
| Person Last | ROBERTS | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | 999009999 | SSN |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | 0 | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | SAMANTHA BOKORI | PreparerPersonNm |
| PTIN | P01057347 | PTIN |
| Phone | 3174648600 | PhoneNum |
Additional Filer Information AdditionalFilerInformation
Trusted Customer TrustedCustomerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | 2 | TrustedCustomerCd |
| Authentication Assurance Level | AAL1 | AuthenticationAssuranceLevelCd |
| Identity Assurance Level | IAL1 | IdentityAssuranceLevelCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2022 | TaxYr |
| Build TS | 2023-04-26 12:10:37Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | MAXEY J ROBERTS | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 3148 | AddressLine1Txt |
| City | MOBILE | CityNm |
| State Abbreviation | AL | StateAbbreviationCd |
| ZIP | 366523148 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $18,747,078 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | USAFOUNDATION.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1968 | FormationYr |
| Legal Domicile State | AL | LegalDomicileStateCd |
| Activity Or Mission | TO SUPPORT THE EDUCATIONAL PROGRAMS OF THE UNIVERSITY OF SOUTH ALABAMA. | ActivityOrMissionDesc |
| Voting Members Governing Body | 20 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 19 | VotingMembersIndependentCnt |
| Total Employee | 11 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | $68,420 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $2,594,520 | PYContributionsGrantsAmt |
| CY Contributions Grants | $68,985 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $0 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $0 | CYProgramServiceRevenueAmt |
| PY Investment Income | $9,671,288 | PYInvestmentIncomeAmt |
| CY Investment Income | $10,869,553 | CYInvestmentIncomeAmt |
| PY Other Revenue | $875,056 | PYOtherRevenueAmt |
| CY Other Revenue | $913,110 | CYOtherRevenueAmt |
| PY Total Revenue | $13,140,864 | PYTotalRevenueAmt |
| CY Total Revenue | $11,851,648 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $32,671,350 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $13,260,154 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $1,546,403 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $1,621,853 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $27,881 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $2,226,985 | PYOtherExpensesAmt |
| CY Other Expenses | $2,037,085 | CYOtherExpensesAmt |
| PY Total Expenses | $36,444,738 | PYTotalExpensesAmt |
| CY Total Expenses | $16,919,092 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | -$23,303,874 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | -$5,067,444 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $392,021,424 | TotalAssetsBOYAmt |
| Total Assets EOY | $419,243,148 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $1,122,645 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $965,071 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $390,898,779 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $418,278,077 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | 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 | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $16,211,433 | ExpenseAmt |
| Grant | $13,260,154 | GrantAmt |
| Desc | CONTRIBUTIONS TO THE UNIVERSITY OF SOUTH ALABAMA. | Desc |
| Total Program Service Expenses | $16,211,433 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (1) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (1) | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Lobbying Activities | 0 | LobbyingActivitiesInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | Yes (1) | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | 0 | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | 0 | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (1) | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | Yes (1) | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | 0 | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | 0 | PYExcessBenefitTransInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | Yes (1) | RelatedOrganizationCtrlEntInd |
| Transaction With Control Ent | Yes (1) | TransactionWithControlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | 0 | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 17 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 11 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (1) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (1) | Form990TFiledInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 20 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 19 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | 0 | MembersOrStockholdersInd |
| Election Of Board Members | 0 | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | AL | StatesWhereCopyOfReturnIsFldCd |
| States Where Copy Of Return Is Fld | MS | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MAXEY J ROBERTS | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 2514322116 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 211 N CONCEPTION STREET | AddressLine1Txt |
| City | MOBILE | CityNm |
| State Abbreviation | AL | StateAbbreviationCd |
| ZIP | 366036477 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (27 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|---|
| MAXEY J ROBERTS | ||||||||
| MANAGING DIRECTOR/BOARD MEMBER | 40.00 | 0.00 | Yes (X) | Yes (X) | $345,286 | $0 | $1,730 | |
| GREGORY LUCE | ||||||||
| VICE PRESIDENT/BOARD MEMBER | 1.00 | 0.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| JOHN MCMILLAN | ||||||||
| PRESIDENT/BOARD MEMBER | 1.00 | 0.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| LOWELL J BONDS | ||||||||
| SECRETARY/BOARD MEMBER | 1.00 | 0.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| ROBERT P HALL | ||||||||
| TREASURER/BOARD MEMBER | 1.00 | 0.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| ALEXIS ATKINS | ||||||||
| BOARD MEMBER | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| ARLENE MITCHELL | ||||||||
| BOARD MEMBER | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| D LYNN DYESS | ||||||||
| BOARD MEMBER | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| DAMIAN J COLLINS | ||||||||
| BOARD MEMBER | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| DON WORD | ||||||||
| BOARD MEMBER (BEG. 4/1/2023) | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| ELIZABETH VANDEWAA | ||||||||
| BOARD MEMBER | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| FRANK S PETTYJOHN | ||||||||
| BOARD MEMBER (DECEASED 12/6/2022) | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| ISABEL Z BROWN | ||||||||
| BOARD MEMBER (BEG. 4/1/2023) | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| JAMES H CROSBY | ||||||||
| BOARD MEMBER (BEG. 4/1/2023) | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| JOHN T WHIDDON | ||||||||
| BOARD MEMBER | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| JOSIAH R BONNER JR | ||||||||
| BOARD MEMBER | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| MARGARET D YOUNG | ||||||||
| BOARD MEMBER | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| NOLAN C LEAKE | ||||||||
| BOARD MEMBER | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| NORMOND B MCALLISTER JR | ||||||||
| BOARD MEMBER | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| OTHA LEE BIGGS | ||||||||
| BOARD MEMBER | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| ROBERT D WORD | ||||||||
| BOARD MEMBER (END 3/31/2023) | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| W ALLEN CARROLL JR | ||||||||
| BOARD MEMBER | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| W SCOTT MCNAIR | ||||||||
| BOARD MEMBER (DECEASED 6/16/2023) | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| WALTER E PENRY | ||||||||
| BOARD MEMBER (END 3/31/2023) | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | ||
| BRAD B ROBERTS | ||||||||
| CHIEF FINANCIAL OFFICER | 40.00 | 0.00 | Yes (X) | $251,364 | $0 | $2,137 | ||
| H WADE FAULKNER | ||||||||
| INVESTMENT MANAGER | 40.00 | 0.00 | Yes (X) | $178,633 | $0 | $24,895 | ||
| PHILIP JOHNSON | ||||||||
| CHIEF FORESTER | 40.00 | 0.00 | $145,533 | $0 | $17,850 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $920,816 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $46,612 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 4 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (2 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| DELOITTE TOUCHE LLP | |||||
| 420 N 20TH STREET | BIRMINGHAM | AL | 35203 | AUDITING & TAX | $207,378 |
| JONES WALKER LLP | |||||
| N WATER STREET | MOBILE | AL | 36603 | LEGAL SERVICES | $136,633 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 2 | CntrctRcvdGreaterThan100KCnt |
| All Other Contributions | $68,985 | AllOtherContributionsAmt |
| Total Contributions | $68,985 | TotalContributionsAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $2,926,501 | TotalRevenueColumnAmt |
| Exclusion | $2,926,501 | ExclusionAmt |
Royalties Revenue RoyaltiesRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $128,229 | TotalRevenueColumnAmt |
| Exclusion | $128,229 | ExclusionAmt |
Gross Rents GrossRentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $784,652 | RealAmt |
Less Rental Expenses LessRentalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $68,191 | RealAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $716,461 | RealAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $716,461 | TotalRevenueColumnAmt |
| Exclusion | $716,461 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $11,654,750 | SecuritiesAmt |
| Other | $3,115,541 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $6,054,154 | SecuritiesAmt |
| Other | $773,085 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $5,600,596 | SecuritiesAmt |
| Other | $2,342,456 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $7,943,052 | TotalRevenueColumnAmt |
| Exclusion | $7,943,052 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|
| HEAVY EQUIPMENT USAGE | 110000 | $56,420 | $56,420 |
| ACCOUNTING AND ADMIN. | 110000 | $12,000 | $12,000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $68,420 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $11,851,648 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $68,420 | UnrelatedBusinessRevenueAmt |
| Exclusion | $11,714,243 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $13,260,154 | TotalAmt |
| Program Services | $13,260,154 | ProgramServicesAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $770,617 | TotalAmt |
| Program Services | $601,012 | ProgramServicesAmt |
| Management And General | $145,464 | ManagementAndGeneralAmt |
| Fundraising | $24,141 | FundraisingAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $477,305 | TotalAmt |
| Program Services | $301,038 | ProgramServicesAmt |
| Management And General | $176,267 | ManagementAndGeneralAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $192,125 | TotalAmt |
| Program Services | $147,937 | ProgramServicesAmt |
| Management And General | $42,267 | ManagementAndGeneralAmt |
| Fundraising | $1,921 | FundraisingAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $105,155 | TotalAmt |
| Program Services | $80,969 | ProgramServicesAmt |
| Management And General | $23,134 | ManagementAndGeneralAmt |
| Fundraising | $1,052 | FundraisingAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $76,651 | TotalAmt |
| Program Services | $59,021 | ProgramServicesAmt |
| Management And General | $16,863 | ManagementAndGeneralAmt |
| Fundraising | $767 | FundraisingAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $204,339 | TotalAmt |
| Program Services | $157,341 | ProgramServicesAmt |
| Management And General | $46,998 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $181,041 | TotalAmt |
| Program Services | $139,402 | ProgramServicesAmt |
| Management And General | $41,639 | ManagementAndGeneralAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $404,039 | TotalAmt |
| Program Services | $404,039 | ProgramServicesAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $60,806 | TotalAmt |
| Program Services | $46,821 | ProgramServicesAmt |
| Management And General | $13,985 | ManagementAndGeneralAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $54,648 | TotalAmt |
| Program Services | $42,079 | ProgramServicesAmt |
| Management And General | $12,569 | ManagementAndGeneralAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $37,500 | TotalAmt |
| Program Services | $28,875 | ProgramServicesAmt |
| Management And General | $8,625 | ManagementAndGeneralAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,236 | TotalAmt |
| Program Services | $951 | ProgramServicesAmt |
| Management And General | $285 | ManagementAndGeneralAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $178,558 | TotalAmt |
| Program Services | $137,490 | ProgramServicesAmt |
| Management And General | $41,068 | ManagementAndGeneralAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $43,786 | TotalAmt |
| Program Services | $33,715 | ProgramServicesAmt |
| Management And General | $10,071 | ManagementAndGeneralAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $258,183 | TotalAmt |
| Program Services | $198,801 | ProgramServicesAmt |
| Management And General | $59,382 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt |
|---|---|---|---|
| TIMBER MGT. & MAINT. | $239,403 | $239,403 | |
| PROPERTY TAXES | $227,429 | $219,875 | $7,554 |
| REPAIRS & MAINTENANCE | $62,695 | $48,275 | $14,420 |
| DUES & SUBSCRIPTIONS | $34,854 | $26,838 | $8,016 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $48,568 | TotalAmt |
| Program Services | $37,397 | ProgramServicesAmt |
| Management And General | $11,171 | ManagementAndGeneralAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $16,919,092 | TotalAmt |
| Program Services | $16,211,433 | ProgramServicesAmt |
| Management And General | $679,778 | ManagementAndGeneralAmt |
| Fundraising | $27,881 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,553,561 | BOYAmt |
| EOY | $1,712,816 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $18,202 | BOYAmt |
| EOY | $120,336 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $182,087,395 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $1,092,962 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $181,745,611 | BOYAmt |
| EOY | $180,994,433 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $196,016,485 | BOYAmt |
| EOY | $223,531,896 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,150,598 | BOYAmt |
| EOY | $10,277,690 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,536,967 | BOYAmt |
| EOY | $2,605,977 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $392,021,424 | BOYAmt |
| EOY | $419,243,148 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,042,645 | BOYAmt |
| EOY | $855,071 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $80,000 | BOYAmt |
| EOY | $110,000 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,122,645 | BOYAmt |
| EOY | $965,071 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $64,976,820 | BOYAmt |
| EOY | $64,699,431 | EOYAmt |
Donor Restriction Net Assets DonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $325,921,959 | BOYAmt |
| EOY | $353,578,646 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $390,898,779 | BOYAmt |
| EOY | $418,278,077 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $392,021,424 | BOYAmt |
| EOY | $419,243,148 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | -$5,067,444 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $32,446,742 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $0 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Consolidated Basis Fincl Stmt | Yes (X) | ConsolidatedBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Supporting Organization509a3 | Yes (X) | SupportingOrganization509a3Ind |
| Supporting Org Type3 Func Int | Yes (X) | SupportingOrgType3FuncIntInd |
| Supported Organizations | 1 | SupportedOrganizationsCnt |
Supported Org Information SupportedOrgInformationGrp
Supported Organization Name SupportedOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | UNIVERSITY OF SOUTH ALABAMA | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 630477348 | EIN |
| Organization Type | 6 | OrganizationTypeCd |
| Governing Document Listed | Yes (1) | GoverningDocumentListedInd |
| Support | $13,260,154 | SupportAmt |
| Other Support | $0 | OtherSupportAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Supported Organizations Total | 1 | SupportedOrganizationsTotalCnt |
| Support Sum | $13,260,154 | SupportSumAmt |
| Other Support Sum | $0 | OtherSupportSumAmt |
Form990 Sch A Supporting Org Form990SchASupportingOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Listed By Name Governing Doc | Yes (1) | ListedByNameGoverningDocInd |
| Suprt Org No IRS Determination | Yes (1) | SuprtOrgNoIRSDeterminationInd |
| Supported Org Section C456 | 0 | SupportedOrgSectionC456Ind |
| Supported Org Not Organized US | 0 | SupportedOrgNotOrganizedUSInd |
| Organization Change Suprt Org | 0 | OrganizationChangeSuprtOrgInd |
| Support Non Supported Org | 0 | SupportNonSupportedOrgInd |
| Payment Substantial Contribtr | 0 | PaymentSubstantialContribtrInd |
| Loan Disqualified Person | 0 | LoanDisqualifiedPersonInd |
| Controlled Disqualified Prsn | 0 | ControlledDisqualifiedPrsnInd |
| Disqualified Prsn Controll Int | 0 | DisqualifiedPrsnControllIntInd |
| Disqualified Prsn Ownr Int | 0 | DisqualifiedPrsnOwnrIntInd |
| Excess Business Holdings Rules | 0 | ExcessBusinessHoldingsRulesInd |
| Contribution Controller | 0 | ContributionControllerInd |
| Contribution Family | 0 | ContributionFamilyInd |
| Contribution35 Controlled | 0 | Contribution35ControlledInd |
Form990 Sch A Type3 Sprt Org All Form990SchAType3SprtOrgAllGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timely Provided Documents | Yes (1) | TimelyProvidedDocumentsInd |
| Officers Close Relationship | Yes (1) | OfficersCloseRelationshipInd |
| Supported Org Voice Investment | Yes (1) | SupportedOrgVoiceInvestmentInd |
Form990 Sch A Type3 Func Int Form990SchAType3FuncIntGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Governmental Entity | Yes (X) | GovernmentalEntityInd |
Form990 Schedule A Part VI Form990ScheduleAPartVIGrp (3 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| 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 2023, $22,920,800 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 $250 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 100 SCHOLARSHIPS, 36 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 2023, $22,920,800 HAS BEEN CONTRIBUTED TOWARD THE GIFT. THE BALANCE OF THE GIFT WILL BE CONTRIBUTED TO THE UNIVERSITY OVER THE NEXT FOUR 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 $7,014,048. THE UNIVERSITY OF SOUTH ALABAMA FOUNDATION SUPPORTS 36 PROFESSORSHIPS CRITICAL TO THE MISSION OF THE UNIVERSITY OF SOUTH ALABAMA. THE FOUNDATION CONTRIBUTED $1,805,124 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 $17,500,000 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 $26,807,538 TO THE MITCHELL CANCER INSTITUTE. THIS SUPPORT INCLUDES FOUR CRITICAL FACULTY POSITIONS, INCLUDING THE EXECUTIVE DIRECTOR OF THE INSTITUTE, TOTALING $333,508 FOR THE FISCAL YEAR 2023, 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 2023, THE UNIVERSITY OF SOUTH ALABAMA FOUNDATION PROVIDED $7,791,850 FROM THE FOUNDATION'S DISPROPORTIONATE SHARE HOSPITAL FUNDS TO SUPPORT UNIVERSITY OF SOUTH ALABAMA HOSPITALS. THIS SUPPORT INCLUDED $3,997,022 TO FUND FOUR PROJECTS FOR USA HEALTH, 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 $1,277,428 TO SUPPORT FACULTY THROUGH THE CLINICAL SUPPORT FUND, AND $747,600 TO THE HOSPITAL EQUIPMENT FUND CRITICALLY IMPORTANT IN FURTHERING THE HEALTHCARE AND TEACHING MISSION OF THE UNIVERSITY OF SOUTH ALABAMA. |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule D IRS990ScheduleD
CY Endwmt Fund CYEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $390,898,779 | BeginningYearBalanceAmt |
| Contributions | $68,985 | ContributionsAmt |
| Investment Earnings Or Losses | $44,229,405 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $13,260,154 | GrantsOrScholarshipsAmt |
| Administrative Expenses | $3,658,938 | AdministrativeExpensesAmt |
| End Year Balance | $418,278,077 | EndYearBalanceAmt |
CY Minus1 Yr Endwmt Fund CYMinus1YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $438,035,146 | BeginningYearBalanceAmt |
| Contributions | $2,594,520 | ContributionsAmt |
| Investment Earnings Or Losses | -$13,286,149 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $32,671,350 | GrantsOrScholarshipsAmt |
| Administrative Expenses | $3,773,388 | AdministrativeExpensesAmt |
| End Year Balance | $390,898,779 | EndYearBalanceAmt |
CY Minus2 Yr Endwmt Fund CYMinus2YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $389,017,438 | BeginningYearBalanceAmt |
| Contributions | $511,675 | ContributionsAmt |
| Investment Earnings Or Losses | $63,091,545 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $10,862,630 | GrantsOrScholarshipsAmt |
| Administrative Expenses | $3,722,882 | AdministrativeExpensesAmt |
| End Year Balance | $438,035,146 | EndYearBalanceAmt |
CY Minus3 Yr Endwmt Fund CYMinus3YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $385,213,830 | BeginningYearBalanceAmt |
| Contributions | $5,294,604 | ContributionsAmt |
| Investment Earnings Or Losses | $12,773,777 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $10,597,497 | GrantsOrScholarshipsAmt |
| Administrative Expenses | $3,667,276 | AdministrativeExpensesAmt |
| End Year Balance | $389,017,438 | EndYearBalanceAmt |
CY Minus4 Yr Endwmt Fund CYMinus4YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $375,729,197 | BeginningYearBalanceAmt |
| Contributions | $4,136,825 | ContributionsAmt |
| Investment Earnings Or Losses | $19,009,070 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $10,034,781 | GrantsOrScholarshipsAmt |
| Administrative Expenses | $3,626,481 | AdministrativeExpensesAmt |
| End Year Balance | $385,213,830 | EndYearBalanceAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Board Designated Balance EOY | 0.15470 | BoardDesignatedBalanceEOYPct |
| Prmnnt Endowment Balance EOY | 0.43870 | PrmnntEndowmentBalanceEOYPct |
| Term Endowment Balance EOY | 0.40660 | TermEndowmentBalanceEOYPct |
| Endowments Held Unrelated Org | 0 | EndowmentsHeldUnrelatedOrgInd |
| Endowments Held Related Org | 0 | EndowmentsHeldRelatedOrgInd |
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $179,676,840 | InvestmentCostOrOtherBasisAmt |
| Book Value | $179,676,840 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $1,509,036 | OtherCostOrOtherBasisAmt |
| Depreciation | $581,676 | DepreciationAmt |
| Book Value | $927,360 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $388,214 | InvestmentCostOrOtherBasisAmt |
| Depreciation | $352,530 | DepreciationAmt |
| Book Value | $35,684 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $513,305 | OtherCostOrOtherBasisAmt |
| Depreciation | $158,756 | DepreciationAmt |
| Book Value | $354,549 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $180,994,433 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | DEPOSITS | Desc |
| Amt | $110,000 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $110,000 | TotalLiabilityAmt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART V, LINE 4: | FormAndLineReferenceDesc |
| Explanation | 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. | ExplanationTxt |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable
Recipient Business Name RecipientBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | UNIVERSITY OF SOUTH ALABAMA | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 307 N UNIVERSITY BLVD | AddressLine1Txt |
| City | MOBILE | CityNm |
| State Abbreviation | AL | StateAbbreviationCd |
| ZIP | 36688 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Recipient EIN | 630477348 | RecipientEIN |
| IRC Section | GOVERNMENT ENTITY | IRCSectionDesc |
| Cash Grant | $13,260,154 | CashGrantAmt |
| Non Cash Assistance | $0 | NonCashAssistanceAmt |
| Purpose Of Grant | SCHOLARSHIPS, FACULTY POSITIONS, AND OTHER SUPPORT | PurposeOfGrantTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 1 | Total501c3OrgCnt |
| Total Other Org | 0 | TotalOtherOrgCnt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 2: | FormAndLineReferenceDesc |
| Explanation | 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. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | 0 | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | 0 | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | 0 | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | 0 | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | 0 | AnyNonFixedPaymentsInd |
| Initial Contract Exception | 0 | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (4 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| MAXEY J ROBERTS | ||||||||||||||
| MANAGING DIRECTOR/BOARD MEMBER | $344,668 | $0 | $0 | $0 | $618 | $0 | $0 | $0 | $1,730 | $0 | $347,016 | $0 | $0 | $0 |
| BRAD B ROBERTS | ||||||||||||||
| CHIEF FINANCIAL OFFICER | $251,088 | $0 | $0 | $0 | $276 | $0 | $0 | $0 | $2,137 | $0 | $253,501 | $0 | $0 | $0 |
| H WADE FAULKNER | ||||||||||||||
| INVESTMENT MANAGER | $177,841 | $0 | $0 | $0 | $792 | $0 | $0 | $0 | $24,895 | $0 | $203,528 | $0 | $0 | $0 |
| PHILIP JOHNSON | ||||||||||||||
| CHIEF FORESTER | $144,765 | $0 | $0 | $0 | $768 | $0 | $0 | $0 | $17,850 | $0 | $163,383 | $0 | $0 | $0 |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (5 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART III, LINE 1: DESCRIPTION OF ORGANIZATION MISSION | RELATED ACTIVITIES OF THE UNIVERSITY. EXAMPLES INCLUDE PROVIDING $26,807,538 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 $7,014,048 TO DATE. OTHER PROGRAM SUPPORT INCLUDES $750,000 ANNUALLY TO SUPPORT SCHOLARSHIPS FOR STUDENTS IN THE HONORS PROGRAM, THAT HAS TOTALED $17,500,000 OVER THE PERIOD SINCE INCEPTION, AS WELL AS PROVIDING FINANCIAL SUPPORT TO 36 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 2023, THE FOUNDATION HAS CONTRIBUTED $22,920,800 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 $117 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. |
Schedule R IRS990ScheduleR
Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp (2 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt | Entity TypeEntityTypeTxt | Share Of EOY AssetsShareOfEOYAssetsAmt | OwnershipOwnershipPct | Controlled OrganizationControlledOrganizationInd | Share Of Total IncomeShareOfTotalIncomeAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| KNOLLWOOD DEVELOPMENT INC | ||||||||||||
| PO BOX 3148 | MOBILE | AL | 366523148 | 631053940 | REAL ESTATE | AL | UNIVERSITY OF SOUTH ALABAMA FOUNDATION | C | $1,513,156 | 1.00000 | Yes (1) | |
| SHUBUTA TIMBER SERVICES INC | ||||||||||||
| PO BOX 3148 | MOBILE | AL | 366523148 | 631234748 | TIMBER SERVICES | MS | UNIVERSITY OF SOUTH ALABAMA FOUNDATION | C | $34,991 | 1.00000 | Yes (1) | $53,395 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | 0 | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | 0 | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | 0 | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | Yes (1) | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | Yes (1) | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | Yes (1) | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | 0 | SharingOfFacilitiesInd |
| Paid Employees Sharing | 0 | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | Yes (1) | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | Yes (1) | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | 0 | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |
Transactions Related Org TransactionsRelatedOrgGrp (4 entries)
| Transaction TypeTransactionTypeTxt | InvolvedInvolvedAmt |
|---|---|
| SHUBUTA TIMBER SERVICES INC | |
| J | $56,420 |
| SHUBUTA TIMBER SERVICES INC | |
| M | $53,395 |
| SHUBUTA TIMBER SERVICES INC | |
| P | $241,381 |
| SHUBUTA TIMBER SERVICES INC | |
| Q | $195,381 |