University of South Alabama Foundation

Analysis

University of South Alabama Foundation is a registered charity in United States, based in Mobile, AL. It received its IRS tax-exemption ruling in March 1968, 58 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, University of South Alabama Foundation reported income of $11.9m and spending of $16.9m, spending 143% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $12.3m to $11.9m (-3.4%), an average of -0.9% a year. Over the whole period it spent 152% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, University of South Alabama Foundation sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 97th percentile within AL. Charities of a similar size with the same main cause include Geo Prep at Mid-City Inc ($11.9m), Arkansas Arts Academy ($11.9m) and Collaborative for Higher Education Shared Services ($11.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.6% of the total. Compensation of current officers, directors and key employees was $771k (4.6% of expenses). Other salaries and wages came to $477k. At year end it held assets of $419.2m against liabilities of $965k, net assets of $418.3m. It reported 11 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.