University of South Alabama
2018 ENDOWMENT REPORT
CONTENTS 3 Thank you 4 Endowments Build Tomorrows 6 Strategic Impacts 8 Stories of Impact
IFC You are changing lives.
2 0
Financials
2 4
Types of Endowments
1. TOC
YOU ARE CHANGING LIVES. Endowed gifts ensure that the University of South Alabama will have resources to accomplish what is most meaningful to you now and far into the future. These gifts are held intact and stewarded with care to enhance their power to transform lives for generations to come. YO U R G E N E R O S I T Y I S B U I L D I N G A L EG AC Y O F T R A N S F O R M E D L I V E S .
1
THANK YOU FOR YOUR GENEROSITY T H A N K YO U for investing in the mission and future of the University of South Alabama. Your generous gift to the endowment at USA is creating an impact today that will be sustained and magnified for many years to come. Because of your lasting commitment, the University’s ability to grow and shape brighter tomorrows is perpetually strengthened. Our endowment continually supplies resources for success. Current and future students are supported in pursuing their dreams of a University education and a fulfilling future. Physicians and scientists are empowered to discover and define paths to prevent, treat and cure disease, and sustain natural environments. Faculty scholars teach and engage students in the arts, in understanding and preserving cultures and histories, and in promoting economic prosperity and social stability. Our neighbors have access to world-class health care here at home. Together, our efforts are transforming the future. This report looks back at the 2018 fiscal year to review the endowment’s performance and demonstrate the powerful effect that you and other committed partners are creating to move our work forward. It is my privilege to thank you on behalf of the students, faculty and staff, as well as so many others who benefit from your generosity.
M A R G A R E T M U R R AY S U L L I VA N Vice President Development and Alumni Relations
2
3
ENDOWMENTS BUILD TOMORROWS T H E U N I V E R S I T Y O F S O U T H A L A B A M A was established because a far-sighted group of citizens in Mobile and Baldwin counties believed that if the Gulf Coast region was to thrive, its people needed better access to higher education. Since 1963, USA has sought to serve our region’s educational needs through high-quality academic programs that now span 10 schools and colleges, where students prepare to join the workforce of the future. USA’s nearly 15,000 students are able to choose among more than 100 academic programs leading to undergraduate, master’s and doctoral degrees. Over the years, USA has sought longer, healthier lives for our neighbors. Today, USA Health supports the well-being of our region by providing the most advanced health care services through USA Health University Hospital, including the Fanny Meisler Trauma Center, the region’s Level 1 trauma center; USA Health Children’s & Women’s Hospital; the USA Health Mitchell Cancer Institute; and the USA Health Physicians Group, the region’s largest multi-specialty physician practice. Further still, USA’s transformative impacts on the region are felt in arts, culture, economic growth and environmental vitality that is supported by the people, ideas and resources of our University. The University of South Alabama’s endowment supports all facets of the institution’s mission and becomes, with each passing year, more consequential to the quality of life of all our neighbors along the Gulf Coast. Together, we are assuring the future of the region, making this a place where generations are sure to thrive.
4
5
STRATEGIC IMPACTS
ENHANCEMENT OF RESEARCH AND G R A D U AT E E D U C AT I O N
S T U D E N T AC C E S S A N D SUCCESS
As we are rooted in knowledge, endowments create new opportunities in graduate education and inspire students to become expert scholars and researchers. Investments in fellowships, assistantships and research funds provide experiences to fully prepare the next generation of scholars whose discoveries will bring forward advances for the benefit of society.
Endowments advance USA’s highest priority by assuring educational achievement opportunities for our students. Investments in scholarships and services for students make a profound difference by developing actively engaged citizens who promote prosperity in our region, our nation and around the world.
G LO B A L E N G AG E M E N T
Endowments enable students to study abroad, assist international students in coming to study at USA and support multicultural programming and events that show students how to engage with people unlike themselves. By extending our connections and collaborations across the nation and around the world, we encourage students to engage with new cultures and experiences that challenge them to think and collaborate globally.
E XC E L L E N C E I N H E A LT H C A R E
U S A I S C O M M I T T E D to its students and faculty, to scholarship and discovery, to engaging internationally and equipping students for the global workforce, to our neighbors and their health, and to the communities we are building together. Endowment gifts help us honor these commitments today and tomorrow. In the following pages, you will find stories of inspired giving.
6
USA Health is a major contributor to the health needs of our region, from training future health care providers to discovery that opens paths to longer, healthier lives. Endowed chairs, fellowship and research funds expand groundbreaking research, assure robust educational opportunities and provide best-inclass services to support patients during treatment and throughout recovery.
UNIVERSITY-COMMUNITY ENGAGEMENT As part of a larger community, we pursue partnerships with people and organizations across our region. These mutually beneficial relationships bring USA’s expertise to bear on community needs, enrich campus life, provide internship and civic engagement opportunities that enhance student learning, and touch neighbors across the region in positive ways. Endowments can support programs that nurture these important connections. 7
Strategic Impacts
STUDENT ACCESS AND SUCCESS A B R A H A M M I TC H E L L Abraham Mitchell serves on the Mitchell Cancer Institute Development Council, the Mitchell College of Business Advisory Council, Mitchell-Moulton Scholarship Initiative Volunteer Leaders committee and the Upward and Onward Leadership Committee. A few of his many generous gifts include the Abraham Mitchell Scholars Program, the Mitchell-Moulton Scholarship Initiative, the Abraham A. Mitchell Cancer Research Fund and the Abraham A. Mitchell Field at Hancock Whitney Stadium. In 2018, Mitchell, along with his brother, the late Mayer Mitchell and his wife, Arlene, were recognized by the Council for Advancement and Support of Education with the annual Distinguished Friend of Education Award. M I TC H E L L- M O U LTO N S C H O L A R S H I P I N I T I AT I V E In 2013, Mr. Mitchell announced a gift of $50 million at USA’s 50th Anniversary celebration. Half of this gift, $25 million, supported the University’s Mitchell College of Business. The other $25 million endowed a new academic scholarship program, the Mitchell-Moulton Scholarship Initiative (MMSI). The scholarship’s goal is to enhance higher education opportunities for students in the Gulf Coast region. Since MMSI’s inception, more than 4,300 donors have made gifts or pledges valued at more than $9.5 million, helping to push USA’s endowment supporting undergraduate scholarships from $16.1 million in 2013 to nearly $35 million today. Since 2015 endowed scholarship awards have risen from 400 per year to more than 650. In the future, when the entire $25 million dollars in matching funds has been claimed, scholarship awards from the MMSI program will grow to more than $2.2 million every year. 8
“I am delighted to be a part of the University of South Alabama family,” Mitchell said. “When I consider my investment in USA and the people it serves, I remain certain that I have received far more than I have given. This scholarship program is about ensuring that quality higher education remains within financial reach of all our citizens. The emphasis is not only on the highest academic achievers who have many opportunities here and elsewhere, but also on those solid middleachieving students, who traditionally might not receive academic scholarships.”
Pictured left to right: Ken Simon, former Chair Pro Tempore of the Board of Trustees; Cody Dunlap, Board of Trustees Scholar and USA President Tony Waldrop.
2 0 1 8 B OA R D O F T R U S T E E S S C H O L A R Cody Dunlap learned he received the Board
Dunlap is the first Board of Trustees Scholar to be a
of Trustees Scholarship directly from University
second-generation Jaguar. His father, Kevin Dunlap,
President Tony Waldrop last summer. “When I first
graduated from South in 1996. “My family did not
heard that Dr. Waldrop wanted to speak to me, I was
influence my decision,” Dunlap said. “They were
a little nervous because I had no idea what he would
always supportive of me going wherever I chose
want to speak to me about,” Dunlap said. “And when
to go. I chose South because it is a large, local
he told me I was chosen for the scholarship I didn’t
university, and it has a good engineering program.”
really know how to respond. I was speechless.”
The Board of Trustees Scholarship Program was
The USA Board of Trustees Scholarship program
created in 2014 after the trustees gave the University
recognizes the most academically talented student
more than $125,000, which was matched by the
in each incoming freshman class, based on ACT/SAT
Mitchell-Moulton Scholarship Initiative. Each
score and, if needed, GPA, followed by rigor of high
recipient is awarded a financial scholarship as a
school coursework.
supplement to other scholarships or awards. If total scholarships exceed the cost of tuition, the Board of
A graduate of Mobile’s Baker High School, Dunlap
Trustees Scholarship may be used for study abroad,
registered a 35 composite ACT score (the highest
research or other programs that enhance a student’s
possible score is 36) and a 4.67 weighted grade-
education.
point average. He is majoring in mechanical engineering.
9
Strategic Impacts
ENHANCEMENT OF RESEARCH AND GRADUATE EDUCATION A N G E L I A A N D S T E V E S TO K E S are co-chairs of the Upward and Onward Campaign. They are members of the Gold Jaguar Society and Lifetime Members of the National Alumni Association. He is a Lifetime Member of the Medical Alumni Association and serves with distinction on the Board of Trustees, having received the honorary title of Chair Pro Tempore Emeritus. T H E A N G E L I A A N D S T E V E N S TO K E S E N D OW E D C H A I R I N E N V I R O N M E N TA L RESILIENCY South Alabama is one of the most biologically diverse areas on Earth and has a rapidly growing human population. The entire Gulf Coast region is challenged to support and sustain the beauty and bounty of nature as it builds industry and infrastructure for expanding cities and towns across the coastal landscape. This complex set of challenges calls for responsible policymaking and business development. Angelia and Dr. Steve Stokes believe that USA is uniquely positioned through its experts and technological resources to lead collaborative 10
DR. SEAN POWERS
partnerships that seek and find answers to these complex dilemmas. In 2013, the Stokes made a gift to establish the Center for Environmental Resiliency at USA to provide a broad interdisciplinary approach to understanding and developing solutions for pressing environmental concerns and promoting resilient and sustainable coastal communities and ecosystems. To strengthen the work of the Center, the Stokes established the Angelia and Steven Stokes Endowed Chair in Environmental Resiliency to provide leadership to assure the Center’s ongoing growth and development. The endowment will support a recognized expert in environmental, marine, biological or chemical sciences whose scholarly activity is focused on environmental resiliency of ecosystems. The Stokes’ commitment to the program stems from their love of the region. “Our Gulf region is a sacred trust we should hold for those who are coming after us,” said Dr. Stokes. “Our hope is the Center for Environmental Resiliency is going to be a leading force in that effort.”
Dr. Sean Powers has conducted field research in
snapper among the Alabama coast’s 12,000 artificial
the Gulf of Mexico for more than 20 years and has
reefs. Many of the methods Powers has developed
expertise in measuring the sustainability of fish
for counting red snapper will be employed by other
populations. In 2018, Powers, the inaugural holder
scientists for the Gulf-wide count.
of the Angelia and Steven Stokes Endowed Chair in Environmental Resiliency, joined a massive two-year
Powers’ team of 12 graduate students, post-docs and
study supported by $12 million in federal government
technicians will use a $1 million remotely operated
funding to resolve the question of whether the red
vehicle and specialized equipment to map the reefs
snapper population in the Gulf is abundant or being
and snapper. Powers says he expects the study will
depleted by overfishing.
show “the population has recovered in some parts of the Gulf and not in other parts and give us specific
In recent years, recreational anglers have reported
locations.”
higher catches and bigger fish, leading many to question the National Marine Fisheries Service’s
Determining the health of red snapper populations is
stock assessments of harvest levels used in setting
vital to assuring that fishery regulations are effective
shortened seasons. Powers says that while the
in promoting and preserving the species and for
fishermen understandably want more days to fish,
securing public trust in the regulations.
some study models have not shown a population with sufficient numbers of old red snapper, which
“The Angelia and Steven Stokes Chair in
can live up to 50 years, because of overfishing in
Environmental Resiliency shows the impact that
the 1980s and 1990s. A large number of older fish
endowed faculty positions have on enhancing
is an important measure of a healthy red snapper
graduate research and education,” said University
population.
President Tony Waldrop. “As the holder of this chair, Dr. Powers is providing leadership for scientific
The Mississippi-Alabama Sea Grant Consortium,
inquiry that will help shape a more sustainable,
the new study’s lead agency, selected Powers to
healthy future for the Gulf Coast and opportunities
head the project along the Alabama and Mississippi
for graduate students to learn by participating in this
coasts, where he has expertise at counting red
important work.” 11
Strategic Impacts
EXCELLENCE IN HEALTH CARE A R L E N E M I TC H E L L Arlene Mitchell serves with distinction as a member of the Board of Trustees. Mrs. Mitchell is a member of the Upward & Onward campaign leadership team and the development councils of the USA Health Mitchell Cancer Institute and USA Health Children’s & Women’s Hospital. Mrs. Mitchell and her late husband, Mayer Mitchell, are members of the Platinum Jaguar Society. A R L E N E A N D M AY E R M I TC H E L L E N D OW E D C H A I R I N M E D I C A L O N C O LO GY When Arlene and Mayer were raising a family and his career was at its peak, they faced the life-altering reality of Mayer’s cancer diagnosis and the need to seek treatment far from home. Fortunately, care at a nationally renowned cancer center proved life-saving, but the Mitchell family remembered the hardships of those days and committed themselves to ensuring that people who have cancer could receive outstanding care close to home and family. During the ensuing decades, the Mitchells’ extraordinary advocacy and philanthropy have enabled USA to establish the USA Health Mitchell Cancer Institute (MCI), a leading-edge academic cancer research and treatment center that offers Gulf Coast residents access to the most promising treatment for cancer right here in Mobile. In establishing the Arlene and Mayer Mitchell Endowed Chair in Medical Oncology, Mrs. Mitchell says she sought to “serve Mr. Mitchell’s purpose of bringing excellent cancer care to people here in Mobile, so that they won’t have to travel as he did to receive treatment. I know he would have loved to see this; I’m sorry that he didn’t because he would absolutely have loved all of the activity and the progress.” Mrs. Mitchell explained that she “feels blessed to be able to contribute in this way” and hopes her giving “will spark some other people to give, too.” 12
DR. ARTHUR E. FRANKEL
In establishing the Arlene and Mayer Mitchell Endowed Chair in Medical Oncology, Mrs. Mitchell says she sought to “serve Mr. Mitchell’s purpose of bringing excellent cancer care to people here in Mobile, so that they won’t have to travel as he did to receive treatment.”
Endowed faculty positions create powerful impacts.
Recently, Frankel is working on enhancing the
Dr. John Marymont, USA Health vice president
effectiveness of immunotherapies by seeking ways
for medical affairs and dean of the College of
to increase the number of people who respond to
Medicine, explained, “A gift such as the Arlene and
treatment. Building on studies that show a particular
Mayer Mitchell Endowed Chair in Medical Oncology
bacterium is linked to whether mice will respond
impacts many areas across USA Health Mitchell
to a specific melanoma treatment, Frankel is
Cancer Institute and throughout our region. Dr.
among a number of scientists who are attempting
Arthur E. Frankel’s recruitment into the Mitchell chair
to adjust the microbiome of the gut using diet and
makes it possible for patients in Mobile to receive
probiotics to help more patients’ bodies respond to
treatment from a nationally renowned expert in
immunotherapies and learn to fight against their
melanoma and other cancers. The Arlene and Mayer
cancers.
Mitchell Endowed Chair in Medical Oncology further establishes the MCI as the highest quality of cancer
As the director of hematology oncology, Frankel
care available here in Mobile.”
is helping to raise the standard of cancer care in
Frankel, the inaugural holder of the Arlene and
with subspecialty training. This means patients at
Mayer Mitchell Endowed Chair in Medical Oncology
MCI can receive care from a team of doctors that
and an expert in the treatment of melanoma
includes experts in the patient’s specific type of
and other skin cancers, has treated thousands of
cancer. Frankel explains that MCI is the only cancer
patients and contributed research toward improved
treatment center in the region to offer this kind of
treatment options. Research conducted during his
disease-specific focus. Having access to this specific
tenure at University of Texas Southwestern Medical
expertise can radically change patients’ outcomes.
Center contributed to a drug recently approved by
“Helping bring this care to the region’s patients is
the FDA to treat a rare, aggressive blood cancer for
why I came to Mobile,” Frankel said.
our community by recruiting a cadre of oncologists
which there had been no disease–specific treatment options. “This will help those patients who didn’t have any treatment options,” Frankel said.
13
Strategic Impacts
GLOBAL ENGAGEMENT B E R T A N D FA N N Y M E I S L E R Herbert “Bert” Meisler currently serves on the Upward & Onward campaign leadership committee. He and his late wife, Fanny, received the 2011 Distinguished Service Award from the USA National Alumni Association. The Meislers have supported many areas of the University, USA Health and Jaguar athletics. FA N N Y A N D B E R T M E I S L E R E N D OW E D PROFESSORSHIP IN JEWISH STUDIES In June 2015, Fanny and Bert Meisler announced a $1 million endowment to enhance Jewish Studies at USA. Three months later, the University welcomed new faculty member Dr. David Meola to serve as the first Fanny and Bert Meisler Endowed Professor in Jewish Studies. The Meisler Endowed Professor expands and deepens the University’s relationship with Mobile’s Jewish community, focusing on the history, religion and culture of the Jewish people. The Meislers’ gift established a permanent endowment to support a faculty position in Jewish Studies. Fanny Meisler, who passed away in 2016, believed in the importance of researching and documenting the history of Jewish people in the Mobile region. “It’s our hope and expectation that University students will take advantage of the opportunity to chronicle this history before it’s gone,” said Fanny Meisler in 2015. Bert Meisler is grateful for the opportunity to continue to give back to USA in this way. “The University is vitally important to Mobile and the Gulf Coast region,” Meisler said. “Fanny and I were thrilled to be able to bring awareness of the impact of the Jewish people on our region by establishing the Meisler Endowed Professorship in Jewish Studies.”
14
“The University is vitally important to Mobile and the Gulf Coast region,” Meisler said. “Fanny and I were thrilled to be able to bring awareness of the impact of the Jewish people on our region by establishing the Meisler Endowed Professorship in Jewish Studies.”
D R . DAV I D M EO L A Dr. David Meola, the Bert and Fanny Meisler
with most Jews stuck in second-class citizenship
Endowed Professor in Jewish Studies and director
or worse.”
of the Jewish and Holocaust Studies Program at the University of South Alabama, was recently
During his time in Germany, Meola will be based at
announced as a Fulbright Scholar.
the Lichtenberg-Kolleg at the University of Göttingen
The Fulbright program’s goal is to increase mutual
in Modern Jewish Studies. His research will be broken
understanding and support friendly and peaceful
into separate stays during the summers of 2020 and
relations between the people of the United States
2021.
and those of other countries. Through the program, Meola will conduct research in Germany for two summers, studying the involvement of Jewish Germans in the German liberal and democratic
(Göttingen Institute for Advanced Study) as a fellow
Recently, Meola collaborated with Deborah Gurt and Paula Webb from USA’s Marx Library to work on a traveling exhibit about Joseph Bloch, a Jewish
movement of the 1830s and 1840s.
German who fled Bavaria in 1848 for suspected
“The period I am researching followed both the
activities. Bloch eventually settled in Mobile, where
time known as the Age of Reason, or Enlightenment,
he later became a professor of music, specializing
and that of the French Revolution,” Meola explained.
in salon music, at Spring Hill College and eventually
“One of the most important ideas that grew out
became known as the “Father of Music” in Mobile.
of these periods was emancipation of the Jews.
Today, Bloch’s papers are preserved in the Doy Leale
However, in the German states, unlike in France,
McCall Rare Book and Manuscript Library at the
emancipation was neither immediate nor complete,
University of South Alabama.
involvement in democratic and revolutionary
15
Strategic Impacts
UNIVERSITYCOMMUNITY ENGAGEMENT DR. ERROL CROOK Dr. Errol D. Crook is a professor and chair of USA’s Department of Internal Medicine. He and his wife, Dr. Tamatra L. Crook, have supported USA and USA Health through many gifts including the Crook Family Endowment, 100 Black Men of Greater Mobile Endowed Leadership Scholarship, the Lavord and Doris Crook Endowed Scholarship, the Dr. Robert A. Kreisberg Gifted Medical Scholars Endowment and the Tyus-Wilson Scholarship, among several others. C E N T E R F O R H E A LT H Y C O M M U N I T I E S E N D OWM E N T Crook, director of USA’s Center for Healthy Communities and professor and Abraham Mitchell Chair of Internal Medicine, invested in the Center for Healthy Communities endowment at its inception in 2007. Crook said the endowment helps address the long-term issues of health disparities. “Whatever we can do to support the Center and its activities is very important to the University,” said Crook. “We do our best to involve the community in as many aspects of research efforts as we can. This funding helps sustain the outreach efforts that are going on at the Center.” The endowment is used to provide funding for coordinating community education, research, public service and health activities to help eliminate health disparities, foster access to health care for underserved populations and enhance the capacity of individuals to better participate in decision-making about their health. This is carried out through collaborative multidisciplinary community and University-based research, education and training programs designed to help develop healthy, sustainable communities. 16
“Whatever we can do to support the Center and its activities is very important to the University,” said Crook. “We do our best to involve the community in as many aspects of research efforts as we can. This funding helps sustain the outreach efforts that are going on at the Center.”
T H E M A K I N G O F A F O O D D E S E R T: A BY P R O D U C T O F U R B A N R E N E WA L When Barbara Hodnett grew up in Mobile, it was
community—began to disappear or relocate to the
during the era of segregation; however, she and her
suburbs. The result? “History was bulldozed over.
friends didn’t realize it. “We didn’t have ‘zip codes;’
Families were disrupted,” said Hodnett.
we were just a community,” Hodnett said. “There were whites and blacks in the same neighborhoods. You knew each other, and you were cordial. When urban renewal came in, everything began to change.”
A new exhibit at the USA Archaeology Museum, The Making of a Food Desert: A Byproduct of Urban Renewal, features photos taken by Hodnett of existing buildings and archival images from USA’s McCall Library, as well as interviews with residents
For more than two decades, Hodnett has worked
who lived through the urban renewal era. Hodnett’s
with the Center for Healthy Communities where
goal is to illustrate one of the major byproducts of
she facilitates health education and outreach in the
this event, the creation of a food desert through the
36603 zip code zone in Mobile.
fragmentation of the neighborhood.
Like many cities in the 1950s and 1960s, the small,
“What I would like to happen as a result of this exhibit
locally owned businesses, doctors, lawyers,
is for people to see what happens when you start
pharmacies, grocery stores, clothing stores—
planning,” Hodnett said. “There are ways now that it
everything a person needs to be self-sustaining in a
can be, if not rectified, then changed for the better.” 17
University of South Alabama Endowment
T H E U N I V E R S I T Y O F S O U T H A L A B A M A’ S endowment preserves your charitable support of USA and gives it lasting impact. Your gifts to the endowment are carefully managed to assure that, with time, they will grow and add to the long-term financial strength of the University. The pooled resources of USA’s generous donors allow investment through a highly diversified portfolio stewarded by expert money managers. Oversight and management of endowment assets are the responsibility of the Board of Trustees’ development, endowment and investments committee. The committee assures that funds are managed in accordance with standards established by the law of the State of Alabama and the policies adopted by the Board of Trustees. The committee also reviews the selection and performance of investment managers and consultants on a periodic basis. Day-to-day management of endowment assets is the responsibility of USA’s division of finance and administration. Since the establishment of the endowment in 2000, prudent management has produced earnings of more than $81 million, outperforming the pool’s indices by approximately one percent on an annualized basis. These positive results, combined with the committed generosity of USA’s endowment donors, provide a strong foundation that allows our faculty, students and patients to thrive. We thank you for your commitment and confidence.
G . S C OT T W E L D O N J A M E S A . YA N C E Vice President Chair Finance and Administration Development, Endowment and Investments Committee
18
19
University of South Alabama Endowment
U N I V E R S I T Y O F S O U T H A L A B A M A E N D O WM E N T As of September 30, 2018 (fiscal year-end 2018), the University of South Alabama’s endowment was valued at $178 million. Endowed funds from all schools, colleges, and USA Health units within the University are invested collectively, enabling each fund to benefit from greater economies of scale and diversification. The majority of endowments benefit specific departments and programs as designated by their donors. GROWTH Amid the extreme market volatility of 2018, endowment assets yielded a 5.9 percent rate of return for the fiscal year. The average annual rate of return over the last five years is 5.8 percent. The positive investment rates of return combined with the generosity of donors have resulted in a significant increase in endowment assets. Over a ten-year period, endowment assets have increased in value from $95 million to $178 million. E N D O WM E N T G R O W T H $200,000,000
$150,000,000
$100,000,000
$50,000,000
$0
FY09 FY10
FY11
FY12
FY13
FY14
FY15
FY16
FY17
A S S E T A L LO C AT I O N The endowment assets are comprised of a highly diversified portfolio of investments. The largest concentration of investments is in domestic equities spanning numerous companies across economic sectors. The endowment also contains international equities across emerging and developed countries. Fixed income securities represent the second largest concentration of endowment assets. These securities primarily include corporate and governmental bonds. The remainder of endowment assets includes short-term, interestbearing securities, hedge funds and private equity investments. n
Short-term Interest Bearing 13%
n
Domestic Equities 36%
n
International Equities 10%
n
Fixed Income 21%
n
Other Investments 20%
FY18
20
21
Short Term Interest Bearing
Domestic Equities
University of South Alabama Endowment
University of South Alabama Endowment
E N D OWM E N T BY D I V I S I O N Endowments supporting scholarships and other academic programs that are not restricted to a specific school or college represent the largest share of the endowment (22 percent). Many of these endowments support scholarships for incoming freshmen or scholarships with unique selection criteria, such as memberships in certain student organizations, that do not restrict the scholarship within a school or college.
E N D O WM E N T M A N AG E M E N T A N D S P E N D I N G P O L I C Y The University’s spending policy, set by the Board of Trustees, allows spending 4.5 percent of the average market value of the preceding five years. In accordance with this policy, $8.4 million was available during FY 2018 to support students, faculty, staff and patients who depend on the University of South Alabama.
The College of Medicine holds the largest share (19 percent) of endowments designated to a specific college or school, followed n University General 22% by the Mitchell College of Business (17 percent). College of Medicine endowments primarily support scholarships, with University General College Medicine n Collegeof of Medicine 19% a majority of the remaining funds supporting research and Mitchell College of Business Mitchell Cancer Institute lectureships. Endowments designated to the Mitchell College of of Arts and Sciences College of Engineering Business are primarily comprised ofCollege undergraduate scholarships n Mitchell College of Business 17% School of Computing College of Education and Professional for students across academic disciplines.
College of Nursing
Among endowments supporting USA Health, the USA Mitchell Cancer Institute holds the largest share of funds (16 percent). Mitchell Cancer Institute endowments primarily support research, with specific designations including breast, pancreatic, pediatric and gynecological cancers. Other Mitchell Cancer Institute endowments support equipment purchases, lectureships and professorships.
n Other USA Health Mitchell Cancer Institute 16%
n
College of Arts & Sciences 8%
n
College of Engineering 5%
n
School of Computing 4%
n
College of Education &
Professional Studies 2%
n
College of Nursing 2%
During the past five years, $38 million has been made available for programs in every part of USA and USA Health, highlighting the endowment’s substantial impact across the University as illustrated below. E N D O WM E N T H I G H L I G H T S (dollars in thousands) Endowment Market Value Return Available Spending
Studies
FY18
FY17
FY16
FY15
FY14
$177,817
$178,433
$170,878
$161,822
$174,106
5.9%
9.9%
6.6%
-1.5%
8.2%
$8,447
$8,217
$7,875
$7,084
$6,517
D E V E LO P M E N T, E N D O WM E N T A N D I N V E S TM E N T S C O M M I T T E E O F T H E B OA R D O F T R U S T E E S (Term 2016-2019) E. Thomas Corcoran Robert D. Jenkins III, Vice Chair Chandra Brown Stewart Steven H. Stokes, M.D. Margie Malone Tuckson Michael P. Windom James A. Yance, Chair
n Other 4%
22
23
TYPES OF ENDOWMENTS FAC U LT Y S U P P O R T Endowed deanships, department chairs, directorships and professorships attract and retain faculty of exceptional talent. Endowed positions are some of the most prestigious and visible honors at the University. S E N I O R AC A D E M I C L E A D E R S H I P P O S I T I O N S ($2 million or more) Help support salary, benefits, research space, special projects and other areas of critical need within any division of the University by establishing one of these:
n Assistantship ($100,000 or more)
Help a graduate student who is pursuing an advanced degree. n Scholarship ($10,000 or more)
Provide full or partial scholarship support to one or more undergraduate students on the basis of need or academic merit. May be designated to support students in a college or school of the donor’s choice.
n Deanship
AC A D E M I C P R O G R A M S U P P O R T Endowment of academic programs promotes excellence in teaching, learning and research, and supplies resources to pursue promising initiatives.
n Directorship
n School or College ($10 million or more)
n Department chair
n Department within a School or College
PROFESSORSHIPS Help support salary, benefits, research and programming for the individual appointed to the professorship by establishing one of these:
($1. 5 million or more)
n Professorship ($500,000 or more)
RESEARCH SUPPORT Endowed research funds support leading research efforts, strengthening University programs and accelerating discovery.
n Visiting Professorship ($500,000 or more)
n Multi-disciplinary Research Program
STUDENT SUPPORT Endowed scholarships, fellowships and assistantships attract, retain and promote the success of the brightest, most talented students to the University’s undergraduate and graduate programs. n Fellowship ($150,000 or more)
Help to attract and train an outstanding student to work toward an advanced degree in a graduate program. 24
($1 million or more)
n Discipline-specific Research Fund within a
College or School ($500,000 or more) n Laboratory or Research Program Endowment
within a College or School ($250,000 or more)
To learn more about establishing an endowed fund, please contact: Sheila Cochran, Campaign Coordinator Office of Development and Alumni Relations TRP III, Suite 1500 | 650 Clinic Drive Mobile, Alabama 36688-0002 | (251) 341-3855 scochran@southalabama.edu southalabama.edu/development
