UNIVERSITY OF SOUTH ALABAMA FOUNDA… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1968

Legal Domicile

Principal Officer

MAXEY J ROBERTS

Phone

2514322116

Tax Period

2024-07-01 to 2025-06-30

UNIVERSITY OF SOUTH ALABAMA FOUNDATION, founded in 1968, is a mid-sized nonprofit in the Education sector that reported $23.1M in total revenue in fiscal year 2024. Revenue surged 104% from the prior year, signaling strong growth momentum. Expenses of $22.4M left a modest 3% surplus.

Mission

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

Program Service Accomplishments

Program 1

Expenses: $21,556,237

CONTRIBUTIONS TO THE UNIVERSITY OF SOUTH ALABAMA.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $113,191

Program Service Revenue $0

Investment Income $22,178,149

Other Revenue $822,304

TOTAL REVENUE $23,113,644

Expense Breakdown

Grants Paid $18,317,158

Salaries & Benefits $1,710,028

Fundraising Expenses $31,989

Program Expenses $21,556,237

Other Expenses $2,324,346

TOTAL EXPENSES $22,351,532

Year-over-Year Comparison

	2024	2023	Change
Revenue	$23,113,644	$11,339,312	+1.0%
Expenses	$22,351,532	$20,371,702	+0.1%
Net Income	$762,112	$-9,032,390	-1.1%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

N/A

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$926,264

Total Directors

$395,845

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
GREGORY LUCE	VICE PRESIDENT/BOARD MEMBER	1.00	Officer Director	$0	$0	$0
JOHN MCMILLAN	PRESIDENT/BOARD MEMBER	1.00	Officer Director	$0	$0	$0
LOWELL J BONDS	SECRETARY/BOARD MEMBER	1.00	Officer Director	$0	$0	$0
MAXEY J ROBERTS	MANAGING DIRECTOR/BOARD MEMBER	40.00	Officer Director	$394,115	$1,730	$395,845
ROBERT P HALL	TREASURER/BOARD MEMBER	1.00	Officer Director	$0	$0	$0
ALEXIS ATKINS	BOARD MEMBER	1.00	Director	$0	$0	$0
ANJANETTA DAVIS	BOARD MEMBER	1.00	Director	$0	$0	$0
ARLENE MITCHELL	BOARD MEMBER (ENDED 06/06/2025)	1.00	Director	$0	$0	$0
D LYNN DYESS	BOARD MEMBER	1.00	Director	$0	$0	$0
DAMIAN J COLLINS	BOARD MEMBER	1.00	Director	$0	$0	$0
DON WORD	BOARD MEMBER	1.00	Director	$0	$0	$0
ELIZABETH VANDEWAA	BOARD MEMBER	1.00	Director	$0	$0	$0
ISABEL Z BROWN	BOARD MEMBER	1.00	Director	$0	$0	$0
JAMES H CROSBY	BOARD MEMBER	1.00	Director	$0	$0	$0
JOHN T WHIDDON	BOARD MEMBER	1.00	Director	$0	$0	$0
JOSIAH R BONNER JR	BOARD MEMBER	1.00	Director	$0	$0	$0
LENUS M PERKINS	BOARD MEMBER (BEGIN 06/06/2025)	1.00	Director	$0	$0	$0
NOLAN C LEAKE	BOARD MEMBER	1.00	Director	$0	$0	$0
NORMOND B MCALLISTER JR	BOARD MEMBER	1.00	Director	$0	$0	$0
OTHA LEE BIGGS	BOARD MEMBER (DECEASED 3/16/2025)	1.00	Director	$0	$0	$0
ROBIN MCNAIR	BOARD MEMBER	1.00	Director	$0	$0	$0
W ALLEN CARROLL JR	BOARD MEMBER	1.00	Director	$0	$0	$0
BRAD B ROBERTS	CHIEF FINANCIAL OFFICER	40.00	Officer	$288,630	$6,318	$294,948
H WADE FAULKNER	INVESTMENT MANAGER	40.00	Officer	$209,422	$26,049	$235,471

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$23,113,644	$22,351,532	$472,889,584	$762,112
2024	$11,339,312	$20,371,702	$458,334,456	$-9,032,390
2023	$11,851,648	$16,919,092	$419,243,148	$-5,067,444
2022	$13,140,864	$36,444,738	$392,021,424	$-23,303,874
2021	$12,164,844	$14,585,512	$439,229,113	$-2,420,668
2020	$13,677,546	$14,264,773	$389,818,068	$-587,227
2019	$12,273,230	$13,661,262	$386,086,878	$-1,388,032

UNIVERSITY OF SOUTH ALABAMA FOUNDATION