2026-05-15T12:52:58+00:00 2025-06-30 440160260 Forvis Mazars LLP 312 Walnut Street Suite 3000 Cincinnati OH 45202 990 2024-07-01 616033693 University of Kentucky Research Foundation UNIV 8592574758 301 Peterson Service Building Lexington KY 40506 PENNY COX TREASURER 2026-05-15 true true Aaron Hershberger P00961884 5136218300 2026-04-08 2024 2025-03-06 01:10:19Z PENNY COX 301 Peterson Service Building Lexington KY 40506 503468488 false X WWW.RESEARCH.UKY.EDU X 1945 KY See Schedule O. 10 4 0 0 0 0 8797823 7242330 464164169 476751124 9375062 9912095 4346761 2222987 486683815 496128536 39352202 52044209 0 0 0 0 0 0 0 421430100 430825023 460782302 482869232 25901513 13259304 265549669 277068976 64917692 62168585 200631977 214900391 See Schedule O. false false 477484005 52044209 478974111 TO PROMOTE SCIENTIFIC, EDUCATIONAL, AND DEVELOPMENT ACTIVITIES AT THE UNIVERSITY OF KENTUCKY. 477484005 true true false true false false false false false true true false false false false false true true false false false false false false false false false true false true false false false false false false false false false false false false false false false true false false false false true 0 0 0 false false false false false false false false false false false false X 10 4 true false false false false false false true true false false false false true true true true true true true false false KY X PENNY COX 8592574758 301 PETERSON SERVICE BUILDING LEXINGTON KY 40506 ELI CAPILOUTO PRESIDENT 1.0 39.0 X X 0 1813011 407077 ILHEM MESSAOUDI VICE PRESIDENT AND EXECUTIVE DIRECTOR 1.0 39.0 X X 0 342886 43918 ERIC N MONDAY DIRECTOR 1.0 39.0 X 0 1593939 395687 EUGENE KRENTSEL DIRECTOR 1.0 0.0 X 0 0 0 JACK SUPPLEE DIRECTOR 1.0 0.0 X 0 0 0 JANIE GREER DIRECTOR 1.0 0.0 X 0 0 0 REBECCA MCCULLEY DIRECTOR 1.0 39.0 X 0 264293 39947 ROBERT DIPAOLA DIRECTOR 1.0 39.0 X 0 1696209 288010 RON GEOGHEGAN DIRECTOR 1.0 0.0 X 0 0 0 SIDNEY WHITEHEART DIRECTOR 1.0 39.0 X 0 211167 39884 PENNY COX TREASURER 1.0 39.0 X 0 329991 41372 TONI SMITH SECRETARY 1.0 39.0 X 0 96689 34762 LISA CASSIS FORMER VICE PRESIDENT AND EXECUTIVE DIRECTOR 0.0 40.0 X 0 597237 66547 0 6945422 1357204 0 true true false 0 0 0 0 0 0 7242330 0 7242330 FEDERAL GRANTS & CONTRACTS 295501256 295501256 0 0 STATE & LOCAL GRANTS & CONTRACTS 37067577 37067577 0 0 RECOVERIES OF FAC & ADMIN COSTS 97429235 97429235 0 0 NONGOVERNMENTAL GRANTS & CONTRACTS 34936190 34936190 0 0 OTHER REVENUES 11816866 11816866 0 0 0 0 0 0 476751124 8897250 0 0 8897250 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 8354797 0 7339952 0 1014845 0 1014845 0 0 1014845 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 LICENSE INCOME 812900 2222987 2222987 0 0 0 0 0 0 0 0 0 0 0 0 0 0 2222987 496128536 478974111 0 9912095 52044209 52044209 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1200901 39053 1161848 0 135000 0 135000 0 180000 0 180000 0 0 0 0 0 0 0 8847025 8797270 49755 0 0 0 0 0 9573679 8309185 1264494 0 2325581 2188385 137196 0 0 0 0 0 2326080 2319989 6091 0 8177402 7965403 211999 0 0 0 0 0 350248 266133 84115 0 4994 4994 0 0 0 0 0 0 241988 241988 0 0 497064 479 496585 0 SALARY, BENEFITS & TAX REIMB 293916521 292745769 1170752 0 SUBCONTRACTORS 49345669 49123862 221807 0 LAB SUPPLIES 17716460 17716460 0 0 EQUIPMENT 6803100 6688094 115006 0 29183311 28852732 330579 0 482869232 477304005 5565227 0 159210951 164862978 0 0 0 0 71692380 77495353 0 0 0 0 0 0 0 0 4186735 2469075 4019221 1550433 2537323 2468788 20407413 22053564 0 7282146 7659950 0 0 232721 59268 265549669 277068976 13064436 15160512 0 0 51677796 47008073 0 0 0 0 0 0 0 0 0 0 175460 0 64917692 62168585 0 0 0 0 0 0 2471261 2394955 198160716 212505436 200631977 214900391 265549669 277068976 13259304 1009110 0 0 0 0 X false true true true true X X X 1 UNIVERSITY OF KENTUCKY 616001218 6 true 52044209 0 1 52044209 0 true false false false false false false false false false false false false false false true false RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false false true 180000 false false 180000 false Schedule C, Part II-B, Line 1 DETAILED DESCRIPTION OF THE LOBBYING ACTIVITY UNIVERSITY OF KENTUCKY RESEARCH FOUNDATION CONTRACTED WITH CORNERSTONE GOVERNMENT AFFAIRS DURING THE YEAR ENDED JUNE 30, 2025, TO LOBBY ON BEHALF OF THE ORGANIZATION. 19659746 -55558 2024909 0 412293 192126 21024678 18578767 -30707 1702848 0 411347 179815 19659746 17675585 -49727 1495544 0 398917 143718 18578767 19264548 -8291 -1081668 0 327866 171138 17675585 14980112 -27866 4861396 0 401752 147342 19264548 0.7501 0.2499 0.0 false true true 0 2336455 2336455 0 1682766 1550433 132333 0 0 0 0 0 0 0 0 0 0 0 0 2468788 496348429 1009110 0 0 0 1009110 495339319 0 789217 789217 496128536 482080015 0 0 0 -789217 -789217 482869232 0 0 0 482869232 Schedule D, Part V, Line 4 Intended uses of endowment funds TO SUPPORT THE PROGRAM IN CARRYING OUT THE INSTRUCTION, RESEARCH AND PUBLIC SERVICE ACTIVITIES. Schedule D, Part XI, Line 4(b) Other revenues in form 990 not in audited financial statements GRANT REVENUE INCLUDED AS EXPENSE ON AUDITED FINANCIAL STATEMENTS AND INCLUDED AS REVENUE ON FORM 990 - 789217 Schedule D, Part XII, Line 2(d) Other expenses in audited financial statements not in form 990 GRANT REVENUE INCLUDED AS EXPENSE ON AUDITED FINANCIAL STATEMENTS AND INCLUDED AS REVENUE ON FORM 990 - -789217 false UNIVERSITY OF KENTUCKY 301 PETERSON BLDG LEXINGTON KY 40506 616001218 GOVT 52044209 SCHOLARSHIPS AND CAPITAL PURCHASES 1 0 X X false true false false false false false false false LISA CASSIS FORMER VICE PRESIDENT AND EXECUTIVE DIRECTOR 0 588206 0 0 0 9031 0 57486 0 9061 0 663784 0 0 ELI CAPILOUTO PRESIDENT 0 1082845 0 525000 0 205166 0 390427 0 16650 0 2220088 0 0 ILHEM MESSAOUDI VICE PRESIDENT AND EXECUTIVE DIRECTOR 0 342301 0 50 0 535 0 34381 0 9537 0 386804 0 0 ERIC N MONDAY DIRECTOR 0 1218559 0 368890 0 6490 0 372712 0 22975 0 1989626 0 0 ROBERT DIPAOLA DIRECTOR 0 1344169 0 331890 0 20150 0 270022 0 17988 0 1984219 0 0 REBECCA MCCULLEY DIRECTOR 0 255002 0 8713 0 578 0 25821 0 14126 0 304240 0 0 SIDNEY WHITEHEART DIRECTOR 0 209756 0 0 0 1411 0 21518 0 18366 0 251051 0 0 PENNY COX TREASURER 0 321308 0 0 0 8683 0 32275 0 9097 0 371363 0 0 Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan A 457(F) CONTRACT WAS WRITTEN FOR DR. CAPILOUTO STARTING JULY 1, 2016, AND SHALL CONTINUE AS LONG AS HE REMAINS EMPLOYED WITH PAYMENTS COMMENCING FOR $178,000 AND PAYABLE EACH YEAR ON JULY 1. A 415(M) DEFERRED COMPENSATION CONTRACT WAS WRITTEN FOR DR. CAPILOUTO STARTING JULY 1, 2011, WITH PAYMENTS COMMENCING FOR $50,000 AND PAYABLE EACH YEAR THROUGH 2025. A 415(M) CONTRACT WAS WRITTEN FOR DR. MONDAY EFFECTIVE OCTOBER 1, 2020, WITH AN INITIAL RETENTION CONTRIBUTION OF $150,000 ON OCTOBER 31, 2020. AS LONG AS HE HAS CONTINUED EMPLOYMENT, ANNUAL CONTRIBUTIONS OF $250,000 WILL BE MADE ON JULY 1 EACH YEAR BEGINNING IN 2021 THROUGH 2023. A 415(M) CONTRACT WAS WRITTEN FOR DR. DIPAOLA EFFECTIVE OCTOBER 1, 2022, WITH AN INITIAL RETENTION CONTRIBUTION OF $110,000 ON OCTOBER 1, 2022. AS LONG AS HE HAS CONTINUED EMPLOYMENT AS PROVOST, ANNUAL CONTRIBUTIONS WILL BE MADE ON JUNE 1 EACH YEAR BEGINNING IN 2023 IN THE AMOUNT OF $110,000 AND INCREASE BY $25,000 EACH SUBSEQUENT YEAR THROUGH 2026. Form 990, Part I, Line 1 ORGANIZATION'S MISSION THE PROGRAM SERVES AS THE UNIVERSITY'S AGENT IN THE RECEIPT OF ALL EXTERNAL GRANTS AND CONTRACTS, INTELLECTUAL PROPERTY INCOME AND OTHER DESIGNATED INCOME; OVERSEES THE PROTECTION, DEVELOPMENT AND COMMERCIALIZATION OF INTELLECTUAL PROPERTIES; AND MANAGES SPECIAL COOPERATIVE AGREEMENTS. THE UNIVERSITY OF KENTUCKY OPERATES THE CORPORATION AS A COST CENTER WITHIN ITS CONSOLIDATED FINANCIAL STATEMENTS. THE AMOUNTS REFLECTED ON THIS RETURN ARE THE UNIVERSITY OF KENTUCKY RESEARCH FOUNDATION DEPARTMENT COST CENTER AND INCLUDE FUNDS DEPOSITED OR DISBURSED DIRECTLY BY THE UNIVERSITY UNDER ITS EMPLOYER IDENTIFICATION NUMBER (EIN) RATHER THAN THAT OF THE CORPORATION. INDEPENDENT CONTRACTORS IF APPLICABLE ARE PAID UNDER THE UNIVERSITY'S EIN AND IRS FORM 1099S ARE ISSUED UNDER THE UNIVERSITY'S EIN AS WELL. Form 990, Part III, Line 1 ORGANIZATION'S MISSION THE PROGRAM SERVES AS THE UNIVERSITY'S AGENT IN THE RECEIPT OF ALL EXTERNAL GRANTS AND CONTRACTS, INTELLECTUAL PROPERTY INCOME AND OTHER DESIGNATED INCOME; OVERSEES THE PROTECTION, DEVELOPMENT AND COMMERCIALIZATION OF INTELLECTUAL PROPERTIES; AND MANAGES SPECIAL COOPERATIVE AGREEMENTS. Form 990, Part VI, Line 2 Family/business relationships amongst interested persons THE FOLLOWING INDIVIDUALS HAVE A BUSINESS RELATIONSHIP AS A RESULT OF THEIR EMPLOYMENT WITH THE UNIVERSITY OF KENTUCKY: ELI CAPILOUTO, LISA CASSIS, PENNY COX, ROBERT DIPAOLA, REBECCA MCCULLEY, ILHEM MESSAOUDI, ERIC MONDAY, TONI SMITH, AND SIDNEY WHITEHEART. - Business relationship Form 990, Part VI, Line 11b Review of form 990 by governing body UNIVERSITY OF KENTUCKY FINANCE PERSONNEL PREPARE AND REVIEW THE FORM 990. THE FORM 990 IS ALSO REVIEWED BY AN INDEPENDENT CERTIFIED PUBLIC ACCOUNTING FIRM. THE RETURN IS PROVIDED TO BOARD OFFICERS PRIOR TO FILING THE RETURN WITH THE INTERNAL REVENUE SERVICE. THE RETURN IS PROVIDED TO ALL BOARD MEMBERS AFTER THE RETURN IS FILED. Form 990, Part VI, Line 12c Conflict of interest policy THE ORGANIZATION IS ADMINISTERED IN ACCORDANCE WITH POLICIES AND PROCEDURES THAT GOVERN THE UNIVERSITY OF KENTUCKY. THE UNIVERSITY'S ETHICAL PRINCIPLES AND CODE OF CONDUCT DEFINES THE UNIVERSITY'S CORE VALUE AND ESTABLISHES GUIDELINES FOR PROFESSIONAL CONDUCT INCLUDING CONFLICT OF INTEREST. ALL UNIVERSITY MEMBERS SHALL AVOID CONDUCT THAT MIGHT IN ANY WAY LEAD MEMBERS OF THE GENERAL PUBLIC TO CONCLUDE THAT HE OR SHE IS USING AN OFFICIAL POSITION TO FURTHER PROFESSIONAL OR PRIVATE INTERESTS OR THE INTERESTS OF ANY MEMBERS OF HIS OR HER FAMILY. IN CONDUCTING OR PARTICIPATING IN ANY TRANSACTION, FULL DISCLOSURE OF ANY REAL OR PERCEIVED CONFLICT WITH PERSONAL INTERESTS AND REMOVAL FROM FURTHER PARTICIPATION IN SUCH MATTERS IS REQUIRED. ADMINISTRATIVE REGULATION 7:2 FINANCIAL CONFLICTS OF INTEREST IN RESEARCH AND ADMINISTRATIVE REGULATION 7:9 INSTITUTIONAL CONFLICTS OF INTEREST INVOLVING RESEARCH SET SPECIFIC RELATIONSHIPS AND ACTIVITIES THAT POSE A POTENTIAL CONFLICT OF INTEREST FOR FACULTY, STAFF, AND STUDENTS INVOLVED IN RESEARCH AND RELATED ACTIVITIES. AFTER DISCLOSURE, THE UNIVERSITY CAN MAKE AN INFORMED JUDGMENT ABOUT A PARTICULAR ACTIVITY AND REQUIRE APPROPRIATE OVERSIGHT, LIMITATIONS, OR PROHIBITIONS IN ACCORD WITH THIS POLICY. Form 990, Part VI, Line 15a Process to establish compensation of top management official THE UNIVERSITY PRESIDENT'S COMPENSATION IS ESTABLISHED AND APPROVED BY THE BOARD OF TRUSTEES OF THE UNIVERSITY OF KENTUCKY. THE PRESIDENT IS OFFERED A MULTI-YEAR CONTRACT WHICH OUTLINES BASE SALARY, VARIABLE PAY, BENEFITS AND OTHER PERQUISITES. THIS TOTAL COMPENSATION PACKAGE IS BENCHMARKED WITH OTHER LAND GRANT INSTITUTIONS WITH ACADEMIC MEDICAL CENTERS. Form 990, Part VI, Line 15b Process to establish compensation of other employees THE UNIVERSITY EMPLOYS EXECUTIVES AND ATHLETIC COACHES IN NON-GRADED EXEMPT POSITIONS. OTHER THAN THE PRESIDENT, THESE EXECUTIVES/COACHES ARE PRESENTED WITH AN OFFER LETTER THAT OUTLINES THEIR BASE SALARY, VARIABLE PAY (IF APPLICABLE) AND PERQUISITES. EMPLOYEE BENEFITS OTHER THAN RETIREMENT CONTRIBUTIONS ARE OFFERED AT THE SAME LEVEL AS STAFF EMPLOYEES. RETIREMENT CONTRIBUTIONS BY THE INSTITUTION FOR SENIOR EXECUTIVES MAY BE AT A HIGHER LEVEL (E.G. 15% EMPLOYER CONTRIBUTION) FOR SOME EXECUTIVES. BASE SALARIES AND VARIABLE PAY ARE BENCHMARKED WITH THE UNIVERSITY'S BENCHMARK INSTITUTIONS, IN ADDITION TO REGIONAL AND NATIONAL BUSINESS ENTITIES. TOTAL COMPENSATION OFFERED TO THESE EXECUTIVE INDIVIDUALS AND COACHES IS APPROVED BY THE PRESIDENT OF THE UNIVERSITY OR HIS DESIGNEE, ATHLETICS DIRECTOR IF COACH COMPENSATION IS LESS THAN $75,000. Form 990, Part VI, Line 19 Required documents available to the public GOVERNING DOCUMENTS, POLICIES AND FINANCIAL STATEMENTS ARE DISCLOSED ON THE UNIVERSITY OF KENTUCKY'S WEBSITE. THE ORGANIZATION IS ADMINISTERED IN ACCORDANCE WITH POLICIES AND PROCEDURES THAT GOVERN THE UNIVERSITY OF KENTUCKY. THE UNIVERSITY'S ADMINISTRATIVE REGULATIONS AND POLICIES ARE PUBLISHED ON THE UNIVERSITY'S WEBSITE AT WWW.UKY.EDU. THE ORGANIZATION'S FINANCIAL STATEMENTS ARE AVAILABLE AT HTTPS://UFS.UKY.EDU/FINANCIAL-STATEMENTS. UNIVERSITY OF KENTUCKY 301 PETERSON SERVICE BUILDING LEXINGTON KY 40506 616001218 HIGHER ED KY NA false KENTUCKY TECHNOLOGY INC 1500 BULL LEA BLVD LEXINGTON KY 45011 611160755 SEE PART VII KY UK C Corporation 403549 10948016 1 true SECAT INC 1501 BULL LEA BLVD LEXINGTON KY 45011 611354889 SALES KY KTI C Corporation -35167 2920737 1 true false true true false false false false false false false false false false true false true false false false UNIVERSITY OF KENTUCKY B 52044209 COST UNIVERSITY OF KENTUCKY C 789217 COST UNIVERSITY OF KENTUCKY P 293916521 COST Schedule R, Part IV, Column (b) PRIMARY ACTIVITY KENTUCKY TECHNOLOGY, INC. IS ORGANIZED TO MARKET INTELLECTUAL PROPERTIES OF A COMMERCIAL NATURE IN ORDER TO FURTHER THE UNIVERSITY OF KENTUCKY'S TECHNOLOGY TRANSFER PROGRAM AND OTHER ECONOMIC DEVELOPMENT EFFORTS BASED ON UNIVERSITY-DEVELOPED TECHNOLOGY.