2012-03-12T18:19:34-05:00 2011-06-30 DELOITTE TAX LLP 424 CHURCH STREET SUITE 2400 NASHVILLE TN 372192396 990 2010-07-01 636065809 UNIVERSITY OF SOUTH ALABAMA FOUNDATION UNIV 2514322116 PO BOX 3148 MOBILE AL 366523148 MAXEY J ROBERTS 2514322116 2012-03-12 1 6152591800 2010 2016-02-24 21:20:13Z MAXEY J ROBERTS PO BOX 3148 MOBILE AL 36652 15982525 0 X USAFOUNDATION.ORG X 1968 AL TO SUPPORT THE EDUCATIONAL PROGRAMS OF THE UNIVERSITY OF SOUTH ALABAMA. 21 20 11 0 249790 0 14550 22232 0 0 3566843 4507666 937509 1011749 4518902 5541647 4395304 4169744 0 0 1011148 1083987 0 0 18046 1834057 2350279 7240509 7604010 -2721607 -2062363 265193278 300009041 946685 15797111 264246593 284211930 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 RELATED ACTIVITIES OF THE UNIVERSITY. EXAMPLES INCLUDE PROVIDING $16,280,000 IN TOTAL SUPPORT TO THE MITCHELL CANCER INSTITUTE, A MAJOR UNIVERSITY UNDERTAKING AND PROGRAM, SUPPORT OF $2,000,000 TO THE UNIVERSITY MEDICAL SIMULATION PROGRAM, FUNDING OF 22 NEW GRADUATE ASSISTANTSHIPS, AS WELL AS SUPPORT OF OTHER UNIVERSITY PROGRAMS.OVER THE PAST TEN YEARS, $65 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 OF 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. 0 0 7121513 4169744 CONTRIBUTIONS TO THE UNIVERSITY OF SOUTH ALABAMA 7121513 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 0 0 0 0 1 1 1 1 0 0 1 19 0 1 11 1 1 1 0 0 0 0 0 0 0 0 0 X 21 20 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AL MS X MAXEY ROBERTS 2514322116 211 N CONCEPTION STREET MOBILE AL 366036477 OTHA LEE BIGGS 1.00 X 0 0 0 ALPHA JOHNSON 1.00 X 0 0 0 GEORGE M LAMB 1.00 X 0 0 0 VERLA E LEDLOW 1.00 X 0 0 0 V GORDON MOULTON 1.00 X 0 0 0 WALTER E PENRY JR 1.00 X 0 0 0 J ALLAN TUCKER 1.00 X 0 0 0 JOHN T WHIDDON 1.00 X 0 0 0 MARGARET D YOUNG 1.00 X 0 0 0 ROBERT D WORD 1.00 X 0 0 0 ELLEN F GREEN 1.00 X 0 0 0 D GREGORY LUCE 1.00 X 0 0 0 JAMES A YANCE 1.00 X 0 0 0 THOMAS A ZOGHBY 1.00 X 0 0 0 A JEANNE SYLVESTRE 1.00 X 0 0 0 STEVEN P FURR 1.00 X 0 0 0 LOWELL J BONDS 1.00 X X 0 0 0 ASA N GREEN 1.00 X X 0 0 0 JOHN MCMILLAN 1.00 X X 0 0 0 STEVE TONDERA 1.00 X X 0 0 0 MAXEY J ROBERTS 40.00 X X 220119 0 1762 JAMES H GAMBILL 40.00 X 179822 0 1584 BRAD B ROBERTS 40.00 X 115934 0 1317 515875 0 4663 3 0 1 0 JONES WALKER LLP 254 STATE STREET MOBILE AL 36603 LEGAL SERVICES 534364 SUPERIOR FORESTRY SERVICE PO BOX 25 TILLY AR 72679 FORESTRY SERVICES 163569 DELOITTE & TOUCHE LLP 191 PEACHTREE NE ATLANTA GA 30303 AUDITING & TAX 139572 TIMBER INVESTMENT MANAGERS LLC PO BOX 931 PETAL MS 39465 FORESTRY SERVICES 118704 CELLFOR 4-6772 OLD FIELD ROAD SAANICHTON BRITISH COLUMBIA CA V8M SA3 FORESTRY SERVICES 115679 5 22232 22232 1960409 1960409 205497 205497 614419 57957 556462 556462 556462 9579079 3351099 8534112 1848809 1044967 1502290 2547257 2547257 HEAVY EQUIPMENT USAGE 110000 237790 237790 ACCOUNTING AND ADMIN. 541200 12000 12000 249790 5541647 0 249790 5269625 4169744 4169744 547569 449268 82567 15734 305145 203207 101938 127071 97844 27956 1271 48662 37470 10706 486 55540 42766 12219 555 244538 204220 40318 137248 105681 31567 237820 237820 40056 30959 9097 29360 22607 6753 996 767 229 125212 96413 28799 305317 305317 64656 49785 14871 215067 170079 44988 TIMBER MGT & MAINT 380658 380658 PROPERTY TAX 226860 219920 6940 CONSULTANT AND PROF FEE 79568 62236 17332 REPAIR AND MAINT EXP 78657 60566 18091 184266 174186 10080 7604010 7121513 464451 18046 863819 770530 36808 178429061 1205419 161074109 177223642 92053149 110579294 10100363 10164138 1101838 1234629 265193278 300009041 886685 606862 15085249 60000 105000 946685 15797111 X 32385118 40132769 62973771 75152665 168887704 168926496 264246593 284211930 265193278 300009041 X -2062363 22027700 X 0 1 1 0 X X X 0 0 0 UNIVERSITY OF SOUTH ALABAMA 630477348 6 1 1 1 4169744 1 4169744 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 264246593 22232 27871686 -4169744 -3758837 284211930 250754715 14550 21055420 -4395304 -3182788 264246593 291434107 13210 -32377611 -4870238 -3444753 250754715 0.22480 0.59440 0.18080 0 0 175582541 175582541 1368496 199162 1169334 918337 810184 108153 559687 196073 363614 177223642 DEPOSITS 105000 105000 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: 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 ENDOWMENT 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 BLVD MOBILE AL 36688 630477348 4169744 SCHOLARSHIPS, FACULTY POSITIONS, AND OTHER SUPPORT 1 1 N/A OTHER INFORMATION: PART IV: 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 THE ELIGIBILTY 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 UNVERSITY IS BASED IN PART ON PERCENTAGE OF THE FOUNDATION'S NET ASSETS. X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 MAXEY J ROBERTS 220119 0 0 0 0 0 0 0 1762 0 221881 0 0 0 JAMES H GAMBILL 179822 0 0 0 0 0 0 0 1584 0 181406 0 0 0 SUPPLEMENTAL INFORMATION PART III PART 1 LINE 1A. THE UNIVERSITY OF SOUTH ALABAMA FOUNDATION PROVIDED CHARTERED AIR TRAVEL FOR SEVERAL OF ITS BOARD MEMBERS. THE CHARTERED AIR SERVICE WAS TO PROVIDE TRANSPORTATION FOR QUARTERLY BOARD MEETINGS. THE BENEFIT WAS NOT TREATED AS TAXABLE COMPENSATION. FORM 990, PART VI, SECTION B, LINE 11 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 FOR REVIEW 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 AN INDEPENDENT COMPENSATION STUDY AND REVIEW OF RELEVANT DATA. 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 OTHER GOVERNING DOCUMENTS. THE FOUNDATION'S AUDITED FINANCIAL STATEMENTS ARE FORWARDED TO THE UNIVERSITY OF SOUTH ALABAMA AND MADE AVAILABLE TO THE LOCAL NEWSPAPER. THE UNIVERSITY OF SOUTH ALABAMA FOUNDATION'S FORM 990 IS AVAILABLE ON REQUEST, AND THE FOUNDATION ALSO DISCLOSES ITS NET ASSETS ON ITS WEBSITE. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: UNREALIZED GAIN ON MARKETABLE EQUITY SECURITIES 23,449,758. UNREALIZED LOSS ON TIMBER INVESTMENTS -227,078. UNREALIZED GAIN MINERAL INVESTMENTS 67,835. UNREALIZED GAIN REAL ESTATE INVESTMENTS 440,877. MARKET DEPLETION - TIMBER INVESTMENTS -1,703,692. TOTAL TO FORM 990, PART XI, LINE 5: 22,027,700. DESCRIPTION OF LOAN PAYABLE FORM 990, PART X, LINE 23 DURING THE FISCAL YEAR ENDING JUNE 30,2011, THE UNIVERSITY OF SOUTH ALABAMA FOUNDATION PURCHASED 327 ACRES FROM THE UNIVERSITY OF SOUTH ALABAMA, KNOWN AS THE BROOKLEY CAMPUS. THE PROPERTY WAS PURCHASED FROM THE UNIVERSITY OF SOUTH ALABAMA IN FURTHERANCE OF THE FINANCIAL SUPPORT OF THE UNIVERSITY BY THE FOUNDATION IN ORDER TO ASSIST THE UNIVERSITY IN CARRYING OUT ITS TAX-EXEMPT PURPOSES AND SPECIFICALLY IN ORDER TO FUND THE PEDIATRIC EXPANSION OF THE UNIVERSITY OF SOUTH ALABAMA'S CHILDREN'S AND WOMEN'S HOSPITAL, AN INTEGRAL PART OF THE TEACHING MISSION AND HEALTH SERVICES MISSIONS OF THE UNIVERSITY OF SOUTH ALABAMA. THE PURCHASE PRICE WAS $2O,000,000, TO BE PAID IN FIVE ANNUAL INSTALLMENTS OF $4,000,000. UNDER THE PURCHASE AGREEMENT, FOR A FIVE-YEAR USE PERIOD, THE UNIVERSITY RETAINS COMPLETE USE OF THE BUILDINGS AND IMPROVEMENTS ON THE 327-ACRE PROPERTY, INCLUDING THE ABILITY TO LEASE FACILITIES AND TO RETAIN ANY AND ALL RENT FROM SUCH LEASES, FURTHER ASSISTING THE UNIVERSITY OF SOUTH ALABAMA IN ITS MISSION OF EDUCATIONAL PURPOSES. THE CURRENT BALANCE OF THE INSTALLMENT NOTE AT JUNE 30, 2011, IS $15,085,249. (PART X, LINE 23) THIS PURCHASE PROVIDED THE UNIVERSITY WITH FUNDS TO FURTHER ITS TAX-EXEMPT PURPOSES, AND TO ENABLE THE UNIVERSITY TO FOCUS ITS ACTIVITIES MORE ON PROVISION OF EDUCATION AND LESS ON THE OWNERSHIP OF PROPERTY. THE PROPERTY, KNOWN AS THE BROOKLEY CAMPUS, IS HELD IN A SUBSIDIARY OF THE UNIVERSITY OF SOUTH ALABAMA FOUNDATION, BROOKLEY BAY FRONT PROPERTIES, LLC. BROOKLEY BAY FRONT PROPERTIES, LLC IS CLASSIFIED AS A DISREGARDED ENTITY AND IS LISTED ON SCHEDULE R, PART I. 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