University Of South Alabama Foundation's Assets Grow To $299M

Ann McClure's picture

The net assets of the University of South Alabama Foundation increased by more than $34.8 million between the 2010 and 2011 fiscal year, foundation officials said Thursday.

As of June 30, the foundation’s assets totaled more than $299 million, up from more than $264 million the year before, according to Maxey Roberts, the foundation’s director.

Roberts attributed the 12 percent increase to the growth in the foundation’s equity portfolio.

In another matter, Roberts said the foundation is about to make its second payment on the Brookley property the foundation purchased from USA a year ago.

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