2024-05-09T08:13:05-05:00 2023-06-30 611064249 DEMING MALONE LIVESAY & OSTROFF PSC 9300 SHELBYVILLE RD STE 1100 LOUISVILLE KY 402225187 990 2022-07-01 237078461 UNIVERSITY OF LOUISVILLE FOUNDATION INC UNIV 5022128200 215 CENTRAL AVE STE 212 LOUISVILLE KY 40208 KEITH SHERMAN EXECUTIVE DIRECTOR & COO 5022128200 2024-05-08 1 KEITH SHERMAN 999009999 0 CHRISTINE N KOENIG P01022180 5024269660 2024-05-08 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z KEITH SHERMAN 215 CENTRAL AVE STE 212 LOUISVILLE KY 40208 57317742 0 X LOUISVILLEFOUNDATION.ORG X 1970 KY THE FOUNDATION SUPPORTS THE UNIVERSITY OF LOUISVILLE (SEE SCHEDULE O) THE FOUNDATION SUPPORTS THE UNIVERSITY IN ITS EFFORTS TO MAINTAIN ITS DISTINCTION AS A PREMIER, NATIONALLY RECOGNIZED METROPOLITAN RESEARCH UNIVERSITY WHILE PROMOTING THE UNIVERSITY'S DEPARTMENTS IN THEIR EDUCATIONAL, SCIENTIFIC, AND LITERARY EFFORTS AND ENTERPRISES. 15 15 18 23 3281901 0 50079321 46406855 0 0 62974 -115109 7656392 6506600 57798687 52798346 56204709 67894786 0 0 3173765 3676289 0 0 0 8004845 7836990 67383319 79408065 -9584632 -26609719 1030933372 1057025817 61720649 62078949 969212723 994946868 X THE FOUNDATION SUPPORTS THE UNIVERSITY IN ITS EFFORTS TO MAINTAIN ITS DISTINCTION AS A PREMIER, NATIONALLY RECOGNIZED METROPOLITAN RESEARCH UNIVERSITY WHILE PROMOTING THE UNIVERSITY'S DEPARTMENTS IN THEIR EDUCATIONAL, SCIENTIFIC, AND LITERARY EFFORTS AND ENTERPRISES. 0 0 74853002 67894786 2462441 THE FOUNDATION SUPPORTS THE UNIVERSITY IN ITS EFFORTS TO MAINTAIN ITS DISTINCTION AS A PREMIER, NATIONALLY RECOGNIZED METROPOLITAN RESEARCH UNIVERSITY WHILE PROMOTING THE UNIVERSITY'S DEPARTMENTS IN THEIR EDUCATIONAL, SCIENTIFIC, AND LITERARY EFFORTS AND ENTERPRISES. BY MAXIMIZING PRIVATE CHARITABLE SUPPORT AND INVESTING PRUDENTLY, THE FOUNDATION HELPS KEEP THE UNIVERSITY IN A LEADERSHIP POSITION FOR RESEARCH AND ACADEMIC INSTRUCTION.CONTINUED ON SCHEDULE O.EXCELLENCE IN RESEARCH TRANSLATES TO REAL-WORLD SOLUTIONS TO THE ISSUES AND COMPLEX PROBLEMS POSED TO OUR COMMUNITIES EACH AND EVERY DAY. STRONG METROPOLITAN RESEARCH UNIVERSITIES ARE ENGINES FOR INTELLECTUAL AND ECONOMIC GROWTH AND PROSPERITY, AND THE FOUNDATION MAKES THE UNIVERSITY MORE POWERFUL EVERY DAY BY PROVIDING TALENTED RESEARCHERS WITH NECESSARY RESOURCES TO MAKE BREAKTHROUGHS THAT MATTER. AS PUBLIC FINANCIAL SUPPORT FOR HIGHER EDUCATION HAS DECLINED AND THE COST CONTINUES TO INCREASE, THE FOUNDATION IS WORKING TO ENSURE THE DEFICIT IN FUNDING IS MET, AND THAT STUDENTS CAN CONTINUE TO BECOME UNIVERSITY OF LOUISVILLE ACADEMICS, ATHLETES AND CITIZENS, CREATING THEIR OWN UNIQUE UOFL STORIES. THAT IS WHY THE FOUNDATION PROVIDES FINANCIAL SUPPORT FOR THE VARIOUS ACADEMIC, ATHLETIC AND CAREER PURSUITS. 74853002 1 1 0 0 0 0 0 0 1 1 1 1 0 1 1 1 0 1 0 0 1 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 1 16 0 1 18 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 15 15 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 1 0 KY X X KEITH SHERMAN 5022128200 215 CENTRAL AVE STE 212 LOUISVILLE KY 40208 JERRY ABRAMSON DIRECTOR 0.50 X 0 0 0 DAVID ANDERSON DIRECTOR 0.50 X 0 0 0 JIM BOONE SECRETARY 1.00 X X 0 0 0 SCOTT BRINKMAN DIRECTOR 0.50 X 0 0 0 ERNEST BROOKS DIRECTOR 0.50 X 0 0 0 JESSICA COLE DIRECTOR 0.50 X 0 0 0 AL CORNISH DIRECTOR 0.50 X 0 0 0 JILL FORCE CHAIR 1.00 X X 0 0 0 DAVID KREBS DIRECTOR 0.50 X 0 0 0 LARRY MCDONALD DIRECTOR 0.50 X 0 0 0 EUGENE MUELLER DIRECTOR 0.50 X 0 0 0 MARK NICKEL VICE CHAIR 1.00 X X 0 0 0 MARY NIXON DIRECTOR 0.50 X 0 0 0 JIM ROGERS DIRECTOR 0.50 X 0 0 0 KIM SCHATZEL DIRECTOR 0.50 X 0 0 0 JOHN THOMPSON DIRECTOR 0.50 X 0 0 0 DORIAN BROWN DIRECTOR (PREVIOUS) 0.50 X 0 0 0 PAUL CARRICO DIRECTOR (PREVIOUS) 0.50 X 0 0 0 LORI GONZALEZ DIRECTOR (PREVIOUS) 0.50 X 0 0 0 KEN PAYNE DIRECTOR (PREVIOUS) 1.00 X 0 0 0 EARL REED DIRECTOR (PREVIOUS) 1.00 X 0 0 0 DAVID SCHULTZ DIRECTOR (PREVIOUS) 0.50 X 0 0 0 JOHN SMITH DIRECTOR (PREVIOUS) 0.50 X 0 0 0 KEITH SHERMAN EXECUTIVE DIRECTOR & COO 27.50 X 279331 0 40327 REGINA LANSKWERT DIRECTOR OF ADMINISTRATION 43.00 X 138046 0 38521 JUSTIN RUHL CONTROLLER 41.00 X 124965 0 38531 542342 0 117379 3 0 1 0 NTS MANAGEMENT COMPANY 500 N HURSTBOURNE PKWY STE 400 LOUISVILLE KY 40222 PROPERTY MANAGEMENT 1055705 CENTERPLATE-SERVICE AMERICA 1 INDEPENDENCE POINT STE 305 GREENVILLE SC 29615 HOSPITALITY SERVICES 1025676 PRIME BUCHHOLZ 273 CORPORATE DR STE 250 PORTSMOUTH NH 03801 INVESTMENT SERVICES 860915 FIRST CLASS COMMERCIAL CLEANING 2500 HERMITAGE WAY LOUISVILLE KY 40242 CLEANING SERVICES 306823 SHAW SECURE SOLUTIONS LLC 952 S 3RD ST STE 201 LOUISVILLE KY 40203 SECURITY SERVICES 161586 5 46406855 4929442 46406855 97315 97315 5069230 4306972 762258 762258 762258 212424 -212424 -212424 -212424 GOLF COURSE REVENUE 900099 3281901 3281901 ACTUARIAL GAIN ON ANNUITY AND TRU 900099 1484624 1484624 PROFESSIONAL FEES AND SERVICES 611710 731134 731134 246683 246683 5744342 52798346 2462441 3281901 647149 67894786 67894786 362133 362133 2144633 688791 1455842 153680 153680 684875 227541 457334 330968 314101 16867 59273 59273 106954 106954 863900 863900 144946 63282 81664 64881 24811 40070 317617 317617 57636 57636 1083855 122961 960894 30720 27122 3598 1773703 1713699 60004 274636 32552 242084 156199 125383 30816 CHANGE-PLEDGE RESERVE 1725076 1725076 ANNUITANT PAYMENTS 804114 804114 MISCELLANEOUS EXPENSES 240082 71203 168879 CATERING 133398 133398 79408065 74853002 4555063 0 3311273 4180349 53513881 22939805 17463549 13111646 4383756 4460219 9617321 5566122 104111 173056 579329 526704 66399732 19236508 48915169 47163224 278134690 390950353 546878151 497953564 68032142 70000775 1030933372 1057025817 2091460 2245520 4609369 4541408 14095786 14434570 31804372 30820000 9119662 10037451 61720649 62078949 X 59317890 60808012 909894833 934138856 969212723 994946868 1030933372 1057025817 X -26609719 52343864 0 X 0 1 X 1 0 X 40863854 62343858 39331772 50079321 46406855 239025660 40863854 62343858 39331772 50079321 46406855 239025660 44433616 194592044 3956417 1773096 4086251 4856152 5166545 19838461 258864121 19386056 0.75170 0.73300 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 821796650 13084840 38785596 22016640 5142287 846508159 848961007 6467011 -11383018 16840418 5407932 821796650 635865444 6570804 216570254 5262428 4783067 848961007 644598337 13975825 -10491072 8461731 3755915 635865444 770214045 10790972 10008041 141912795 4501926 644598337 0.23560 0.72460 0.03980 1 0 12857811 12857811 48085240 15612221 32473019 2153769 1543977 609792 3302912 2080310 1222602 47163224 PARTNERSHIP INVESTMENTS 490886914 F MISCELLANEOUS INVESTMENTS 7066650 F 497953564 FUNDS HELD IN TRUST BY OTHERS 65902732 DEFERRED LEASING COSTS, NET 870440 TENANT LEASING COSTS, NET 3227603 70000775 DUE TO UNIVERSITY OF LOUISVILLE 4973856 ANNUITIES AND TRUSTS PAYABLE 5063595 10037451 X PART IV, LINE 2B: THE FOUNDATION IS THE CUSTODIAN OF FUNDS OWNED BY THE UNIVERSITY OF LOUISVILLE ATHLETICS ASSOCIATION (ASSOCIATION). THE ASSOCIATION IS A SEPARATE CORPORATION ORGANIZED FOR THE PURPOSE OF PROMOTING THE INTERCOLLEGIATE ATHLETIC ACTIVITIES OF THE UNIVERSITY OF LOUISVILLE. AS OF JUNE 30, 2023, THE FOUNDATION HELD APPROXIMATELY $3.5 MILLION FOR THE ASSOCIATION'S INVESTMENT PURPOSES. THE FOUNDATION ENTERED INTO AN AGREEMENT WITH LEGACY FOUNDATION OF KENTUCKIANA, FORMERLY JEWISH HOSPITAL & ST. MARY'S HEALTHCARE, INC. (JEWISH HOSPITAL) WHEREBY THE FOUNDATION SERVES IN AN AGENCY CAPACITY TO INVEST FUNDS ON BEHALF OF JEWISH HOSPITAL. JEWISH HOSPITAL IS A SEPARATE CORPORATION ORGANIZED FOR THE PURPOSE OF PROVIDING HEALTH CARE SERVICES. AS OF JUNE 30, 2023, THE FOUNDATION HELD APPROXIMATELY $10.6 MILLION FOR JEWISH HOSPITAL'S INVESTMENT PURPOSES. THE FOUNDATION WAS THE RECIPIENT OF ENDOWED FUNDS, THE INCOME OF WHICH SHALL BE USED IN SUPPORT OF THE LOUISVILLE ORCHESTRA. AS OF JUNE 30, 2023, THE FOUNDATION HELD APPROXIMATELY $270,000 FOR THE BENEFIT OF THE LOUISVILLE ORCHESTRA. THE FOUNDATION, ACTING IN AN AGENT CAPACITY, DOES NOT REFLECT EARNINGS ON INVESTMENTS HELD IN TRUST FOR OTHERS IN ITS REVENUES AS THESE EARNINGS ARE DISTRIBUTED TO THE OWNERS OF THE FUNDS. PART V, LINE 4: THE INTENDED USE OF THE FOUNDATION'S ENDOWMENTS IS TO SUPPORT THE UNIVERSITY IN ITS EFFORTS TO MAINTAIN ITS DISTINCTION AS A PREMIER, NATIONALLY RECOGNIZED METROPOLITAN RESEARCH UNIVERSITY WHILE PROMOTING THE UNIVERSITY'S DEPARTMENTS IN THEIR EDUCATIONAL, SCIENTIFIC, AND LITERARY EFFORTS AND ENTERPRISES. FOR THE YEAR ENDED JUNE 30, 2019, LINE 1E "OTHER EXPENDITURES FOR FACILITIES AND PROGRAMS" INCLUDES A RESTATEMENT TO EXCLUDE CERTAIN CURRENT USE AND OTHER FUNDS THAT ARE NO LONGER CONSIDERED PART OF THE ENDOWMENT DUE TO THE ADOPTION OF ASU 2016-14 AND FURTHER ANALYSIS OF THESE AMOUNTS OR FUNDS. PART X, LINE 2: UNDER U.S. GAAP, THE TAX EFFECTS FROM UNCERTAIN TAX POSITIONS ARE TO BE RECOGNIZED IN THE CONSOLIDATED FINANCIAL STATEMENTS ONLY IF THE POSITION IS MORE LIKELY THAN NOT TO BE SUSTAINED IF THE POSITION WERE TO BE CHALLENGED BY A TAX AUTHORITY. THE FOUNDATION COMPLETED AN ANALYSIS OF ITS UNCERTAIN TAX POSITIONS IN ACCORDANCE WITH APPLICABLE ACCOUNTING GUIDANCE AND DETERMINED THERE ARE NO AMOUNTS TO BE RECOGNIZED IN THE CONSOLIDATED FINANCIAL STATEMENTS AT JUNE 30, 2023 AND 2022. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 100349391 EUROPE (INCLUDING ICELAND AND GREENLAND) 0 0 INVESTMENTS 20193782 0 0 0 0 0 0 120543173 0 120543173 1 0 1 1 1 0 PART III ACCOUNTING METHOD: SCHEDULE F, PART I, LINE 3 CENTRAL AMERICA AND THE CARIBBEAN: ACCRUAL EUROPE (INCLUDING ICELAND AND GREENLAND): ACCRUAL 1 UNIVERSITY OF LOUISVILLE 2301 S 3RD STREET LOUISVILLE KY 40208 611014882 SECTION 115 56448330 852896 FAIR VALUE RENT, BOOKS, EQUIPMENT OPERATIONAL AND DEVELOPMENT SUPPORT U OF L HEALTH - LOUISVILLE INC 530 S JACKSON ST LOUISVILLE KY 40202 843178470 501(C)(3) 10593560 0 GENERAL SUPPORT 2 0 PART I, LINE 2: THE FOUNDATION HAS BEEN DESIGNATED BY THE UNIVERSITY OF LOUISVILLE TO RECEIVE FUNDS DERIVED FROM GIFTS AND OTHER SOURCES. AS GUIDED BY ITS BOARD OF DIRECTORS, THE ORGANIZATION TRANSFERS FUNDS TO THE UNIVERSITY OR ITS AFFILIATES. THE BUDGET IS ESTABLISHED AND AGREED UPON BEFORE THE FISCAL YEAR BEGINS. GRANTS ARE ONLY GIVEN AS REIMBURSEMENTS. THE EXPENSES MUST ALREADY BE INCURRED TO RECEIVE A GRANT. X X 0 0 0 0 0 0 0 0 0 KEITH SHERMAN EXECUTIVE DIRECTOR & COO 278557 0 0 0 774 0 30180 0 10147 0 319658 0 0 0 REGINA LANSKWERT DIRECTOR OF ADMINISTRATION 137598 0 0 0 448 0 13823 0 24698 0 176567 0 0 0 JUSTIN RUHL CONTROLLER 124766 0 0 0 199 0 13833 0 24698 0 163496 0 0 0 PART I, LINE 3 THE BOARD OF DIRECTORS APPROVED COMPENSATION OF THE EXECUTIVE DIRECTOR & COO. X 38540 DONOR VALUE X 4144812 FAIR VALUE X FURNITURE 3 400399 DONOR VALUE X EQUIPMENT 10 259676 DONOR VALUE X OTHER 20 86015 DONOR VALUE 0 1 1 PART I, LINE 32B: THE FOUNDATION OCCASIONALLY USES REAL ESTATE AGENTS TO SELL REAL PROPERTY, PROFESSIONAL ART DEALERS TO SELL ARTWORK, AND A BANKING INSTITUTION TO SELL SECURITIES. FORM 990, PART VI, SECTION B, LINE 11B THE RETURN IS FIRST REVIEWED BY UNIVERSITY OF LOUISVILLE FOUNDATION, INC. STAFF INCLUDING THE INVESTMENT AND TAX REPORTING MANAGER, CONTROLLER, AND EXECUTIVE DIRECTOR & CHIEF OPERATING OFFICER. THE RETURN IS REVIEWED BY THE FOUNDATION'S LEGAL COUNSEL. THE FULL BOARD OF DIRECTORS, INCLUDING THE CHAIR OF THE AUDIT, COMPLIANCE, AND RISK MANAGEMENT COMMITTEE, RECEIVED THE RETURN PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C BEFORE ANY MEETING OF THE BOARD OF DIRECTORS (OR A COMMITTEE OF THE BOARD), AN AGENDA IS CIRCULATED TO EACH MEMBER WITH DESCRIPTIONS OF THE ACTION ITEMS. THIS ALLOWS SUFFICIENT TIME FOR ANY BOARD MEMBER TO ALERT THE BOARD ABOUT A POTENTIAL CONFLICT OF INTEREST. FURTHER, AT THE BEGINNING OF BOARD AND COMMITTEE MEETINGS, THE FOLLOWING IS READ: DOES ANY MEMBER HAVE A CONFLICT OF INTEREST OR APPEARANCE OF ONE WITH RESPECT TO ANY MATTER COMING BEFORE THE BOARD/COMMITTEE TODAY? WHEN AN ITEM IS PRESENTED TO THE BOARD OF DIRECTORS (OR A COMMITTEE OF THE BOARD) FOR ACTION, THE BOARD MEMBER WILL DISCLOSE HIS OR HER POSSIBLE CONFLICT OF INTEREST AND MUST RECUSE HIMSELF OR HERSELF FROM VOTING. THE BOARD MEMBER ALSO AVOIDS PARTICIPATING IN ANY DECISION OR ADVOCATING FOR ANY DECISION OF THE BOARD. IN SOME CIRCUMSTANCES, SUCH AS WHEN THE CONFLICT OF THE BOARD MEMBER PLACES THE BOARD MEMBER IN COMPETITION WITH THE FOUNDATION, THE BOARD MEMBER WILL LEAVE THE BOARD MEETING DURING DISCUSSION OR UPDATE ON THE ACTION. A CONFLICT OF INTEREST QUESTIONNAIRE IS GIVEN ANNUALLY TO ALL BOARD MEMBERS AND OFFICERS. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION OF THE EXECUTIVE DIRECTOR & COO IS APPROVED BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S FINANCIAL STATEMENTS, FORMS 990, AND BOARD MINUTES ARE AVAILABLE AT LOUISVILLEFOUNDATION.ORG. ALL GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, RECONCILIATION OF NET ASSETS REALIZED AND UNREALIZED GAINS ARE PRESENTED NET AS UNREALIZED GAINS ON THE RECONCILIATION OF CHANGES IN NET ASSETS. FORM 990, PART VI, SECTION B, LINE 16B THE ORGANIZATION'S PRACTICE IS TO OBTAIN BOARD APPROVAL PRIOR TO ENTERING INTO A JOINT VENTURE. 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