2026-04-20T02:18:36-05:00 2025-06-30 861065772 DELOITTE TAX LLP 111 MONUMENT CIRCLE SUITE 4200 INDIANAPOLIS IN 462045108 990 2024-07-01 636065809 UNIVERSITY OF SOUTH ALABAMA FOUNDATION UNIV 2514322116 PO BOX 3148 MOBILE AL 366523148 MAXEY J ROBERTS MANAGING DIRECTOR 2514322116 2026-04-17 1 1 SHAWNA JANSONS P01222873 3174648600 2024 2025-03-06 01:10:19Z MAXEY J ROBERTS PO BOX 3148 MOBILE AL 366523148 32152829 0 X USAFOUNDATION.ORG X 1968 AL TO SUPPORT THE EDUCATIONAL PROGRAMS OF THE UNIVERSITY OF SOUTH ALABAMA. 20 19 10 0 50470 0 11858 113191 0 0 10558934 22178149 768520 822304 11339312 23113644 16552872 18317158 0 0 1581839 1710028 0 0 31989 2236991 2324346 20371702 22351532 -9032390 762112 458334456 472889584 1071943 1058975 457262513 471830609 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 21556237 18317158 CONTRIBUTIONS TO THE UNIVERSITY OF SOUTH ALABAMA. 21556237 1 1 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 1 0 0 0 0 1 1 1 0 0 1 19 0 1 10 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 20 19 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 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 MAXEY J ROBERTS MANAGING DIRECTOR/BOARD MEMBER 40.00 0.00 X X 394115 0 1730 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 1.00 0.00 X 0 0 0 ARLENE MITCHELL BOARD MEMBER (ENDED 06/06/2025) 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 LENUS M PERKINS BOARD MEMBER (BEGIN 06/06/2025) 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 (DECEASED 3/16/2025) 1.00 0.00 X 0 0 0 ROBIN MCNAIR BOARD MEMBER 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 288630 0 6318 H WADE FAULKNER INVESTMENT MANAGER 40.00 0.00 X 209422 0 26049 892167 0 34097 3 0 1 0 JONES WALKER LLP N WATER STREET MOBILE AL 36603 LEGAL SERVICES 218615 DELOITTE & TOUCHE LLP 420 N 20TH STREET BIRMINGHAM AL 35203 AUDITING & TAX 206478 SUPERIOR FORESTRY SERVICES LLC PO BOX 11150 RUSSELLVILLE AR 72812 TIMBER SERVICES 105596 AERIAL FORESTRY SERVICES LLC 219 NORTHSHORE BLVD MADISON MS 39110 TIMBER SERVICES 103483 4 113191 99416 113191 3343837 3343837 88569 88569 757695 74430 683265 683265 683265 25109680 2689387 8194795 769960 16914885 1919427 18834312 18834312 HEAVY EQUIPMENT USAGE 110000 38470 38470 ACCOUNTING AND ADMIN. 110000 12000 12000 50470 23113644 0 50470 22949983 18317158 18317158 931119 723509 179313 28297 409699 202842 206857 188766 145350 41528 1888 104929 80796 23084 1049 75515 58147 16613 755 188963 145502 43461 192623 148320 44303 487766 487766 66734 51385 15349 53846 41461 12385 39869 30699 9170 846 652 194 192796 148453 44343 46484 35793 10691 274577 211424 63153 TIMBER MGT. & MAINT. 377037 377037 PROPERTY TAXES 227776 215171 12605 REPAIRS & MAINTENANCE 87408 67304 20104 DUES & SUBSCRIPTIONS 40176 30936 9240 47445 36532 10913 22351532 21556237 763306 31989 1814486 1139992 32186 1733 183758558 1155363 181078492 182603195 262849631 276295443 9706245 9717312 2853416 3131909 458334456 472889584 961943 968975 110000 90000 1071943 1058975 X 64553099 63364234 392709414 408466375 457262513 471830609 458334456 472889584 762112 13805984 0 X 0 1 X 1 0 X X 1 UNIVERSITY OF SOUTH ALABAMA 630477348 6 1 18317158 0 1 18317158 0 1 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 11936 2682 0 0 3866952 4166141 3878888 4168823 47738 46484 439567 487766 0 0 3391583 3634573 237990093 265520929 2044087 1415343 193638153 195452416 433672333 462388688 0 0 0 433672333 462388688 6505085 6935830 427167248 455452858 14950854 15940850 0 0 14950854 15940850 3391583 2882846 14950854 14950854 0 14950854 X 18336437 0 773512 0 0 0 19109949 0 14950854 0.000000000000 14950854 0 0 0 0 0 0 0 0 0 0 0 19109949 0 14950854 4159095 0 0 4159095 0 0 0 0 4159095 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 2025, $28,230,200 HAS BEEN PAID TOWARD THE GIFT. THE BALANCE OF THE GIFT WILL BE CONTRIBUTED TO THE UNIVERSITY IN FISCAL YEAR 2026. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 457262513 113191 36806437 18317158 4034374 471830609 418278077 11858 59344280 16552872 3818830 457262513 390898779 68985 44229405 13260154 3658938 418278077 438035146 2594520 -13286149 32671350 3773388 390898779 389017438 511675 63091545 10862630 3722882 438035146 0.13430 0.38920 0.47650 0 0 181337840 181337840 1540899 644724 896175 388214 368790 19424 491605 141849 349756 182603195 DEPOSITS 90000 90000 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 18317158 0 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 393497 0 0 0 618 0 0 0 1730 0 395845 0 0 0 BRAD B ROBERTS CHIEF FINANCIAL OFFICER 288354 0 0 0 276 0 0 0 6318 0 294948 0 0 0 H WADE FAULKNER INVESTMENT MANAGER 208630 0 0 0 792 0 0 0 26049 0 235471 0 0 0 X 1 99416 COST OR SELLING PRICE 0 0 1 0 FORM 990, PART III, LINE 1, DESCRIPTION OF ORGANIZATION MISSION: RELATED ACTIVITIES OF THE UNIVERSITY. EXAMPLES INCLUDE PROVIDING $37,685,914 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 $7,952,948 TO DATE. OTHER PROGRAM SUPPORT INCLUDES $750,000 ANNUALLY TO SUPPORT SCHOLARSHIPS FOR STUDENTS IN THE HONORS PROGRAM, THAT HAS TOTALED $19,000,000 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. DURING THE FISCAL YEAR 2024, THE UNIVERSITY OF SOUTH ALABAMA FOUNDATION CONTRIBUTED 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 SCIENCES AND RELATED PROGRAMS. 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 2025, THE FOUNDATION HAS CONTRIBUTED $28,230,200 TOWARDS THE GIFT. ADDITIONALLY, THE FOUNDATION ENGAGES IN ONGOING DIALOGUE WITH THE UNIVERSITY COMMUNITY, ITS FACULTY AND STUDENTS THROUGH RECEPTIONS, LECTURES, LUNCHEONS AND OTHER EVENTS. 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 $143 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 1513999 1.00000 1 SHUBUTA TIMBER SERVICES INC PO BOX 3148 MOBILE AL 366523148 631234748 TIMBER SERVICES MS UNIVERSITY OF SOUTH ALABAMA FOUNDATION C 36020 111444 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 INC P 227000 BOOK VALUE