To support the University of South Alabama, balancing current contributions with future growth.
Since 1990, the Foundation has contributed more than $140 Million in support of the
University of South Alabama, its students, faculty and academic programs.
$2,473,000 was contributed by the Foundation to the University of South Alabama during the six-month period ended December 31, 2014.
Continuing the Foundation’s mission to support the University, the Foundation purchased Brookley
in response to the University’s defined most critical and important need, to secure funding for the
expansion of USA Children’s and Women’s Hospital dedicated in September, 2013. The purchase of
Brookley in November, 2010, allowed the expansion to move forward. In November 2014, the Foundation paid the final installment to the University of South Alabama for a total payment of $20 Million for the Brookley property.
The net assets of the USA Foundation were $323,069,000 at December 31, 2014, compared to $323,136,000, at fiscal year ended June 30, 2014.
Philosophy of Endowment Foundations
“Successfully managed endowments retain forever the ability to provide a particular level
of institutional support, justifying the classification of endowment funds as permanent
assets. Pursuit of long-term asset preservation requires seeking high returns, accepting the
accompanying fundamental risk and associated market volatility.” - David Swensen, Chief
Investment Officer, Yale University, in Pioneering Portfolio Management.
An endowment foundation balances these two divergent requirements of endowment
accumulation while providing an incremental source of funds to allow the University to be one
of excellence, acting in a prudent manner to meet both objectives.