University Of South Alabama Foundation
- Assets
- $419.2m
- Revenue
- $11.9m
- Investments
- $10.3m
- Employees
- 11
- Location
- Mobile, AL
- Founding
- 03/1968
- Data as of
- 06/2023
- 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 06/2023, 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 06/2023, University Of South Alabama Foundation generated $11.9m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 7.9% each year. All expenses for the organization totaled $16.9m during the year ending 06/2023. While expenses have increased by 2.5% per year over the past 8 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
2023
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 | $345,286 |
Gregory Luce Vice President/board Member | OfficerTrustee | 1 | $0 |
John Mcmillan President/board Member | OfficerTrustee | 1 | $0 |
Lowell J Bonds Secretary/board Member | OfficerTrustee | 1 | $0 |
Robert P Hall Treasurer/board Member | OfficerTrustee | 1 | $0 |
Alexis Atkins Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Deloitte Touche Llp Auditing & Tax | 6/29/23 | $207,378 |
Jones Walker Llp Legal Services | 6/29/23 | $136,633 |
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 | $68,985 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $68,985 |
| Total Program Service Revenue | $0 |
| Investment income | $2,926,501 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $128,229 |
| Net Rental Income | $716,461 |
| Net Gain/Loss on Asset Sales | $7,943,052 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,851,648 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $13,260,154 |
| 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. | $770,617 |
| Compensation of current officers, directors, key employees. | $145,464 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $477,305 |
| Pension plan accruals and contributions | $192,125 |
| Other employee benefits | $105,155 |
| Payroll taxes | $76,651 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $204,339 |
| Fees for services: Accounting | $181,041 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $404,039 |
| Fees for services: Other | $60,806 |
| Advertising and promotion | $0 |
| Office expenses | $54,648 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $37,500 |
| Travel | $1,236 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $178,558 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $43,786 |
| Insurance | $258,183 |
| All other expenses | $48,568 |
| Total functional expenses | $16,919,092 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,712,816 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $120,336 |
| 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 | $180,994,433 |
| Investments—publicly traded securities | $223,531,896 |
| Investments—other securities | $10,277,690 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,605,977 |
| Total assets | $419,243,148 |
| Accounts payable and accrued expenses | $855,071 |
| 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 | $110,000 |
| Total liabilities | $965,071 |
| Net assets without donor restrictions | $64,699,431 |
| Net assets with donor restrictions | $353,578,646 |
| 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 | $419,243,148 |