Mission
THE FOUNDATION'S PURPOSE IS PHILANTHROPIC IN NATURE. AT THE TIME OF ITS FORMATION, ITS SCOPE WAS LIMITED TO THE SUPPORT OF THE BIRMINGHAM-SOUTHERN COLLEGE THROUGH THE ALLOCATION OF FUNDS COMPRISED OF DONOR CONTRIBUTIONS AND INCOME PRODUCED THROUGH PRUDENT INVESTMENTS OF ENDOWMENT. AS OF MAY 31, 2024, BIRMINGHAM-SOUTHERN CEASED ITS NORMAL OPERATIONS DUE TO FINANCIAL CONDITIONS. THE COLLEGE IS CURRENTLY NEGOTIATING THE SALE OF ITS REAL PROPERTY. UPON THE SUCCESSFUL CLOSING OF THE SALE, EXCESS PROCEEDS WILL BE TRANSFERRED TO ITS ENDOWMENT. UNDER ALABAMA LAW, THE COLLEGE AND THE FOUNDATION IS REQUIRED TO SUBMIT A PLAN TO THE STATE ATTORNEY GENERAL FOR USE OF THESE FUNDS. IT IS EXPECTED THAT THE PROPOSED PLAN WILL INCLUDE PROVISIONS FOR THE ISSUANCE OF SCHOLARSHIPS TO STUDENTS WHO WILL ATTEND OTHER LIBERAL ARTS COLLEGES.