2022-05-11T13:12:13-05:00 2021-06-30 611064249 DEMING MALONE LIVESAY & OSTROFF PSC 9300 SHELBYVILLE RD STE 1100 LOUISVILLE KY 402225187 990 2020-07-01 237078461 UNIVERSITY OF LOUISVILLE FOUNDATION INC UNIV 5022128200 215 CENTRAL AVENUE NO 212 LOUISVILLE KY 40208 KEITH SHERMAN EXECUTIVE DIRECTOR & COO 5022128200 2022-05-10 1 KEITH SHERMAN 999009999 CHRISTINE N KOENIG P01022180 5024269660 2022-05-10 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z KEITH SHERMAN 215 CENTRAL AVENUE NO 212 LOUISVILLE KY 40208 46647455 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. 14 14 12 19 3214040 0 62343858 39331772 0 0 429358 148843 3942135 4015387 66715351 43496002 67760145 50102827 0 0 3008849 3209359 0 0 0 12345777 10446130 83114771 63758316 -16399420 -20262314 841865659 1075988166 65636165 65311193 776229494 1010676973 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 58824442 50102827 15392 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. 58824442 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 17 0 1 12 1 1 1 0 0 0 0 0 0 0 0 1 0 0 0 X 14 14 0 0 1 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 AVENUE NO 212 LOUISVILLE KY 40208 DAVID ANDERSON DIRECTOR 0.50 0.50 X 0 0 0 NEELI BENDAPUDI DIRECTOR 0.50 0.50 X 0 0 0 JIM BOONE SECRETARY 1.00 0.50 X X 0 0 0 PAUL CARRICO DIRECTOR 0.50 0.50 X 0 0 0 JOHN CHILTON DIRECTOR 0.50 0.50 X 0 0 0 SABRINA COLLINS DIRECTOR 0.50 0.50 X 0 0 0 JILL FORCE DIRECTOR 0.50 0.50 X 0 0 0 DAVID KREBS DIRECTOR 0.50 0.50 X 0 0 0 LARRY MCDONALD DIRECTOR 0.50 0.50 X 0 0 0 MARK NICKEL DIRECTOR 0.50 0.50 X 0 0 0 MARY NIXON DIRECTOR 0.50 0.50 X 0 0 0 KEN PAYNE VICE CHAIR 1.00 0.50 X X 0 0 0 EARL REED CHAIR 1.00 1.00 X X 0 0 0 JIM ROGERS DIRECTOR 0.50 0.50 X 0 0 0 DAVID SCHULTZ DIRECTOR 0.50 0.50 X 0 0 0 JOHN SMITH DIRECTOR 0.50 0.50 X 0 0 0 JOHN THOMPSON DIRECTOR 0.50 0.50 X 0 0 0 KEITH SHERMAN EXECUTIVE DIRECTOR & COO 27.50 1.00 X 236486 0 51391 SANDRA FRAZIER DIRECTOR (PREVIOUS) 0.50 0.50 X 0 0 0 KRISTA WALLACE-BOAZ DIRECTOR (PREVIOUS) 0.50 0.50 X 0 0 0 REGINA LANSKWERT DIRECTOR OF ADMINISTRATION 43.00 0.00 X 126652 0 22009 SUSAN MAGNESS DIRECTOR OF BUDGET 20.00 0.00 X 124464 0 13080 JUSTIN RUHL CONTROLLER 41.00 3.00 X 117960 0 35776 605562 0 122256 4 0 1 0 DINSMORE & SHOHL LLP 101 S FIFTH ST SUITE 2500 LOUISVILLE KY 40202 LEGAL SERVICES 1049639 PRIME BUCHHOLZ 273 CORPORATE DR SUITE 250 PORTSMOUTH NH 03801 INVESTMENT MANAGEMENT 952474 CENTERPLATE - SERVICE AMERICA 1 INDEPENDENCE POINT SUITE 305 GREENVILLE SC 29615 HOSPITALITY SERVICES 527192 CAMPBELL PARTNERS LLC 505 20TH ST NORTH SUITE 1600 BIRMINGHAM AL 35203 LEGAL SERVICES 479098 NTS MANAGEMENT COMPANY 500 N HURSTBOURNE PKWY STE 400 LOUISVILLE KY 40222 PROPERTY MANAGEMENT 463185 9 X 628173 38703599 3199854 39331772 148843 148843 3937408 3151453 785955 785955 785955 GOLF COURSE 900099 3214040 3214040 PROFESSIONAL FEES AND SERVICES 611710 678972 678972 MISCELLANEOUS 900099 322795 322795 -986375 -986375 3229432 43496002 15392 3214040 934798 50102827 50102827 310315 310315 2149509 1021503 1128006 98240 98240 558287 188567 369720 93008 80703 12305 919199 919199 234208 234208 976758 976758 80670 24483 56187 41207 22000 19207 226731 226731 67108 67108 839355 151094 688261 5899 1395 4504 1863362 1799699 63663 237960 1123 236837 124848 124848 CHANGE-PLEDGE RESERVE 3651994 3651994 ANNUITANT PAYMENTS 704056 704056 MISCELLANEOUS EXPENSES 300891 300891 CATERING 171884 171884 63758316 58824442 4933874 0 5348072 8199320 49918910 48531229 13973358 14147624 843018 4469132 32137595 13053467 85169 103870 407163 440107 66532440 16065679 31510658 50466761 164058710 285129239 468907178 571489888 74675828 79957529 841865659 1075988166 2073396 2558672 4836780 4716032 13635286 14488404 34276859 33053116 10813844 10494969 65636165 65311193 X 45049037 60329900 731180457 950347073 776229494 1010676973 841865659 1075988166 X -20262314 254709793 0 X 0 1 X 1 0 X 29069195 36311750 40863854 62343858 39331772 207920429 29069195 36311750 40863854 62343858 39331772 207920429 44890357 163030072 7475201 16734488 3956417 1773096 4086251 34025453 241945882 27523975 0.67380 0.67900 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 635865444 6570804 216570254 5262428 4783067 848961007 644598337 13975825 -10491072 8461731 3755915 635865444 770214045 10790972 10008041 141912795 4501926 644598337 746866750 4457783 54386489 24667409 10829568 770214045 708152893 4793830 72691984 28503740 10268217 746866750 0.24140 0.71940 0.03920 1 0 13006841 13006841 48200502 12917464 35283038 2071119 1473781 597338 3253978 1674434 1579544 50466761 PARTNERSHIP INVESTMENTS 564094886 F MISCELLANEOUS INVESTMENTS 7395002 F 571489888 FUNDS HELD IN TRUST BY OTHERS 74710988 DEFERRED LEASING COSTS, NET 1180897 TENANT LEASING COSTS, NET 4065644 79957529 DUE TO UNIVERSITY OF LOUISVILLE 4543388 ANNUITIES AND TRUSTS PAYABLE 5877811 DEFERRED COMPENSATION 73770 10494969 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, 2021, 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, 2021, THE FOUNDATION HELD APPROXIMATELY $10.7 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, 2021, THE FOUNDATION HELD APPROXIMATELY $274,000 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: 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 ON THE CONSOLIDATED FINANCIAL STATEMENTS AT JUNE 30, 2021 OR 2020. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 162573372 EUROPE (INCLUDING ICELAND AND GREENLAND) 0 0 INVESTMENTS 21795616 0 0 0 0 0 0 184368988 0 184368988 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 41987821 571403 FAIR VALUE BOOKS, RENT, EQUIPMENT. OPERATIONAL AND DEVELOPMENT SUPPORT U OF L HEALTH - LOUISVILLE INC 530 S JACKSON ST LOUISVILLE KY 40202 843178470 501(C)(3) 7543603 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 235712 0 0 0 774 0 24480 0 26911 0 287877 0 0 0 JUSTIN RUHL CONTROLLER 117165 0 0 0 795 0 12281 0 23495 0 153736 0 0 0 PART I, LINE 3 THE BOARD OF DIRECTORS APPROVED COMPENSATION OF THE EXECUTIVE DIRECTOR & COO. X 2 7240 DONOR VALUE X 79211 DONOR VALUE X 1 5989 DONOR VALUE X 2764982 FAIR VALUE X EQUIPMENT & SUPPLIES 5 297594 DONOR VALUE X INSTRUMENTS 6 37205 DONOR VALUE X MISCELLANEOUS 11 7633 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 A, LINE 4 THE FOUNDATION'S ARTICLES OF INCORPORATION WERE REVISED TO REMOVE THE PROHIBITION OF AN EXECUTIVE COMMITTEE. THE FOUNDATION'S BYLAWS WERE REVISED TO ADDRESS THE COMPOSITION OF THE FOUNDATION'S BOARD OF DIRECTORS AND COMMITTEES. 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 UNIVERSITY, 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 FOUNDATION'S FINANCIAL STATEMENTS, FORM 990, AND BOARD MINUTES ARE AVAILABLE AT LOUISVILLEFOUNDATION.ORG. ALL GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART VIII, LINE 11D ACTUARIAL LOSS ON ANNUITY AND TRUST OBLIGATIONS AND PRESENT VALUE DISCOUNT OF $(986,000) IS INCLUDED IN OTHER REVENUE. 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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