University Of South Alabama Foundation
- Assets
- $392.0m
- Revenue
- $13.1m
- Investments
- $10.2m
- Employees
- 11
- Location
- Mobile, AL
- Founding
- 03/1968
- Data as of
- 06/2022
- EIN
- 63-6065809
Organization Overview
University Of South Alabama Foundation is located in Mobile, AL. The organization was established in 1968. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. As of 06/2022, University Of South Alabama Foundation employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. University Of South Alabama Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, University Of South Alabama Foundation generated $13.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.8% each year . All expenses for the organization totaled $36.4m during the year ending 06/2022. While expenses have increased by 14.8% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT THE EDUCATIONAL PROGRAMS OF THE UNIVERSITY OF SOUTH ALABAMA.
Describe the Organization's Program Activity:
CONTRIBUTIONS TO THE UNIVERSITY OF SOUTH ALABAMA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Maxey J Roberts Managing Director/board Member | OfficerTrustee | 40 | $322,738 |
Brad B Roberts Chief Financial Officer | Officer | 40 | $225,288 |
H Wade Faulkner Investment Manager | Officer | 40 | $162,412 |
Philip Johnson Chief Forester | 40 | $136,582 | |
Gregory Luce Vice President/board Member | OfficerTrustee | 1 | $0 |
John Mcmillan President/board Member | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Deloitte & Touche Llp Auditing & Tax | 6/29/22 | $296,263 |
Jones Walker Llp Legal Services | 6/29/22 | $179,143 |
Sumter Timber Co Llc Timber Services | 6/29/22 | $144,427 |
Superior Forestry Service Inc Timber Services | 6/29/22 | $105,967 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,594,520 |
| Noncash contributions included in lines 1a–1f | $1,530,375 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,594,520 |
| Total Program Service Revenue | $0 |
| Investment income | $2,467,180 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $103,775 |
| Net Rental Income | $687,181 |
| Net Gain/Loss on Asset Sales | $7,204,108 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $13,140,864 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $32,671,350 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $741,886 |
| Compensation of current officers, directors, key employees. | $136,208 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $456,797 |
| Pension plan accruals and contributions | $179,456 |
| Other employee benefits | $95,337 |
| Payroll taxes | $72,927 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $143,666 |
| Fees for services: Accounting | $278,330 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $476,857 |
| Fees for services: Other | $87,625 |
| Advertising and promotion | $0 |
| Office expenses | $54,034 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $34,937 |
| Travel | $640 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $43,683 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $41,876 |
| Insurance | $250,933 |
| All other expenses | $119,785 |
| Total functional expenses | $36,444,738 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,553,561 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $18,202 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $181,745,611 |
| Investments—publicly traded securities | $196,016,485 |
| Investments—other securities | $10,150,598 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,536,967 |
| Total assets | $392,021,424 |
| Accounts payable and accrued expenses | $1,042,645 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $80,000 |
| Total liabilities | $1,122,645 |
| Net assets without donor restrictions | $64,976,820 |
| Net assets with donor restrictions | $325,921,959 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $392,021,424 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that University Of South Alabama Foundation has recieved totaling $50,000.
| Awarding Organization | Amount |
|---|---|
Hargrove Foundation Mobile, AL PURPOSE: Fund Scholarships | $25,000 |
Hargrove Foundation Mobile, AL PURPOSE: Fund Scholarships | $25,000 |
Endowment Analysis
| Beg. Balance | $438,035,146 |
| Earnings | -$13,286,149 |
| Admin Expense | $3,773,388 |
| Net Contributions | $2,594,520 |
| Grants | $32,671,350 |
| Ending Balance | $390,898,779 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University Of Georgia Foundation Athens, GA | $1,813,135,367 | $241,177,913 |
Georgia Tech Foundation Inc Atlanta, GA | $3,057,656,645 | $246,304,114 |
The University Of Tennessee Foundat Ion Inc Knoxville, TN | $742,610,209 | $198,804,674 |
University Of South Florida Foundation Inc Tampa, FL | $929,677,670 | $144,887,499 |
University Of Mississippi Foundation Oxford, MS | $716,526,476 | $64,727,887 |
Auburn University Foundation Auburn, AL | $857,894,187 | $96,896,842 |
Florida State University Foundation Inc Tallahassee, FL | $730,089,060 | $57,370,131 |
Spelman College Special Ventures Fund Inc Atlanta, GA | $236,389,415 | $26,274,154 |
Seminole Boosters Inc Tallahassee, FL | $240,991,921 | $48,392,781 |
University Of Florida Research Foundation Inc Gainesville, FL | $131,218,099 | $46,757,527 |
University Of Central Florida Foundation Inc Orlando, FL | $396,904,531 | $45,984,866 |
Florida International University Foundation Inc Miami, FL | $475,743,772 | $154,605,877 |