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        <BusinessName>
          <BusinessNameLine1Txt>Prof Dawn Heinecken</BusinessNameLine1Txt>
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        <TitleTxt>Director</TitleTxt>
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      <Form990PartVIISectionAGrp>
        <BusinessName>
          <BusinessNameLine1Txt>Prof Elaine O Wise</BusinessNameLine1Txt>
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        <TitleTxt>Director</TitleTxt>
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      <Form990PartVIISectionAGrp>
        <BusinessName>
          <BusinessNameLine1Txt>Prof Karen Turner</BusinessNameLine1Txt>
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        <TitleTxt>Director</TitleTxt>
        <AverageHoursPerWeekRt>0.5</AverageHoursPerWeekRt>
        <AverageHoursPerWeekRltdOrgRt>49.5</AverageHoursPerWeekRltdOrgRt>
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      <Form990PartVIISectionAGrp>
        <BusinessName>
          <BusinessNameLine1Txt>Prof Michael J Voor</BusinessNameLine1Txt>
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        <TitleTxt>Director</TitleTxt>
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      <Form990PartVIISectionAGrp>
        <BusinessName>
          <BusinessNameLine1Txt>Prof Sharon Moore</BusinessNameLine1Txt>
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        <TitleTxt>Director</TitleTxt>
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      <Form990PartVIISectionAGrp>
        <BusinessName>
          <BusinessNameLine1Txt>Prof Sheldon J Bond</BusinessNameLine1Txt>
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        <TitleTxt>Director</TitleTxt>
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        <BusinessName>
          <BusinessNameLine1Txt>Prof Shelley M Santry</BusinessNameLine1Txt>
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        <TitleTxt>Director</TitleTxt>
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        <BusinessName>
          <BusinessNameLine1Txt>Robert E Berson PhD</BusinessNameLine1Txt>
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        <TitleTxt>Director</TitleTxt>
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        <BusinessName>
          <BusinessNameLine1Txt>Ronald L Wright</BusinessNameLine1Txt>
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      <Form990PartVIISectionAGrp>
        <BusinessName>
          <BusinessNameLine1Txt>Ryan Bridgeman</BusinessNameLine1Txt>
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        <TitleTxt>Director</TitleTxt>
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      <Form990PartVIISectionAGrp>
        <BusinessName>
          <BusinessNameLine1Txt>Sam Rechter</BusinessNameLine1Txt>
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        <BusinessName>
          <BusinessNameLine1Txt>Shannon I Rickett</BusinessNameLine1Txt>
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        <BusinessName>
          <BusinessNameLine1Txt>Steve Jones</BusinessNameLine1Txt>
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        <TitleTxt>Director</TitleTxt>
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      <Form990PartVIISectionAGrp>
        <BusinessName>
          <BusinessNameLine1Txt>Tom Andrews</BusinessNameLine1Txt>
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      <Form990PartVIISectionAGrp>
        <BusinessName>
          <BusinessNameLine1Txt>Tom Meeker</BusinessNameLine1Txt>
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        <TitleTxt>Director</TitleTxt>
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      <Form990PartVIISectionAGrp>
        <BusinessName>
          <BusinessNameLine1Txt>Kyle J Beamer</BusinessNameLine1Txt>
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      <Form990PartVIISectionAGrp>
        <BusinessName>
          <BusinessNameLine1Txt>Vincent J Tyra</BusinessNameLine1Txt>
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        <BusinessName>
          <BusinessNameLine1Txt>Joshua Heird</BusinessNameLine1Txt>
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        <BusinessName>
          <BusinessNameLine1Txt>Billy Dwayne Ledford</BusinessNameLine1Txt>
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        <BusinessName>
          <BusinessNameLine1Txt>Christopher L Mack</BusinessNameLine1Txt>
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        <BusinessName>
          <BusinessNameLine1Txt>Daniel S McDonnell</BusinessNameLine1Txt>
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        <BusinessName>
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        <BusinessName>
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        <BusinessName>
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      <Form990PartVIISectionAGrp>
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          <BusinessNameLine1Txt>Prof Enid Trucios-Haynes</BusinessNameLine1Txt>
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        <BusinessName>
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      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Schedule D, Part XI, Line 4(b) Other revenues in form 990 not in audited financial statements</FormAndLineReferenceDesc>
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      <SupplementalInformationDetail>
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      <AccountActivitiesOutsideUSGrp>
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        <NontaxableBenefitsFilingOrgAmt>0</NontaxableBenefitsFilingOrgAmt>
        <NontaxableBenefitsRltdOrgsAmt>16998</NontaxableBenefitsRltdOrgsAmt>
        <TotalCompensationFilingOrgAmt>0</TotalCompensationFilingOrgAmt>
        <TotalCompensationRltdOrgsAmt>397304</TotalCompensationRltdOrgsAmt>
        <CompReportPrior990FilingOrgAmt>0</CompReportPrior990FilingOrgAmt>
        <CompReportPrior990RltdOrgsAmt>0</CompReportPrior990RltdOrgsAmt>
      </RltdOrgOfficerTrstKeyEmplGrp>
      <RltdOrgOfficerTrstKeyEmplGrp>
        <BusinessName>
          <BusinessNameLine1Txt>Vincent J Tyra</BusinessNameLine1Txt>
        </BusinessName>
        <TitleTxt>Athletic Director</TitleTxt>
        <BaseCompensationFilingOrgAmt>841891</BaseCompensationFilingOrgAmt>
        <CompensationBasedOnRltdOrgsAmt>0</CompensationBasedOnRltdOrgsAmt>
        <BonusFilingOrganizationAmount>261000</BonusFilingOrganizationAmount>
        <BonusRelatedOrganizationsAmt>0</BonusRelatedOrganizationsAmt>
        <OtherCompensationFilingOrgAmt>19152</OtherCompensationFilingOrgAmt>
        <OtherCompensationRltdOrgsAmt>0</OtherCompensationRltdOrgsAmt>
        <DeferredCompensationFlngOrgAmt>28000</DeferredCompensationFlngOrgAmt>
        <DeferredCompRltdOrgsAmt>0</DeferredCompRltdOrgsAmt>
        <NontaxableBenefitsFilingOrgAmt>19038</NontaxableBenefitsFilingOrgAmt>
        <NontaxableBenefitsRltdOrgsAmt>0</NontaxableBenefitsRltdOrgsAmt>
        <TotalCompensationFilingOrgAmt>1169081</TotalCompensationFilingOrgAmt>
        <TotalCompensationRltdOrgsAmt>0</TotalCompensationRltdOrgsAmt>
        <CompReportPrior990FilingOrgAmt>0</CompReportPrior990FilingOrgAmt>
        <CompReportPrior990RltdOrgsAmt>0</CompReportPrior990RltdOrgsAmt>
      </RltdOrgOfficerTrstKeyEmplGrp>
      <RltdOrgOfficerTrstKeyEmplGrp>
        <BusinessName>
          <BusinessNameLine1Txt>Joshua Heird</BusinessNameLine1Txt>
        </BusinessName>
        <TitleTxt>Deputy Athletic Director</TitleTxt>
        <BaseCompensationFilingOrgAmt>138600</BaseCompensationFilingOrgAmt>
        <CompensationBasedOnRltdOrgsAmt>0</CompensationBasedOnRltdOrgsAmt>
        <BonusFilingOrganizationAmount>0</BonusFilingOrganizationAmount>
        <BonusRelatedOrganizationsAmt>0</BonusRelatedOrganizationsAmt>
        <OtherCompensationFilingOrgAmt>21616</OtherCompensationFilingOrgAmt>
        <OtherCompensationRltdOrgsAmt>0</OtherCompensationRltdOrgsAmt>
        <DeferredCompensationFlngOrgAmt>10761</DeferredCompensationFlngOrgAmt>
        <DeferredCompRltdOrgsAmt>0</DeferredCompRltdOrgsAmt>
        <NontaxableBenefitsFilingOrgAmt>11492</NontaxableBenefitsFilingOrgAmt>
        <NontaxableBenefitsRltdOrgsAmt>0</NontaxableBenefitsRltdOrgsAmt>
        <TotalCompensationFilingOrgAmt>182469</TotalCompensationFilingOrgAmt>
        <TotalCompensationRltdOrgsAmt>0</TotalCompensationRltdOrgsAmt>
        <CompReportPrior990FilingOrgAmt>0</CompReportPrior990FilingOrgAmt>
        <CompReportPrior990RltdOrgsAmt>0</CompReportPrior990RltdOrgsAmt>
      </RltdOrgOfficerTrstKeyEmplGrp>
      <RltdOrgOfficerTrstKeyEmplGrp>
        <BusinessName>
          <BusinessNameLine1Txt>Jeff Walz</BusinessNameLine1Txt>
        </BusinessName>
        <TitleTxt>Women's Basketball Coach</TitleTxt>
        <BaseCompensationFilingOrgAmt>1465037</BaseCompensationFilingOrgAmt>
        <CompensationBasedOnRltdOrgsAmt>0</CompensationBasedOnRltdOrgsAmt>
        <BonusFilingOrganizationAmount>160000</BonusFilingOrganizationAmount>
        <BonusRelatedOrganizationsAmt>0</BonusRelatedOrganizationsAmt>
        <OtherCompensationFilingOrgAmt>37010</OtherCompensationFilingOrgAmt>
        <OtherCompensationRltdOrgsAmt>0</OtherCompensationRltdOrgsAmt>
        <DeferredCompensationFlngOrgAmt>28000</DeferredCompensationFlngOrgAmt>
        <DeferredCompRltdOrgsAmt>0</DeferredCompRltdOrgsAmt>
        <NontaxableBenefitsFilingOrgAmt>20894</NontaxableBenefitsFilingOrgAmt>
        <NontaxableBenefitsRltdOrgsAmt>0</NontaxableBenefitsRltdOrgsAmt>
        <TotalCompensationFilingOrgAmt>1710941</TotalCompensationFilingOrgAmt>
        <TotalCompensationRltdOrgsAmt>0</TotalCompensationRltdOrgsAmt>
        <CompReportPrior990FilingOrgAmt>0</CompReportPrior990FilingOrgAmt>
        <CompReportPrior990RltdOrgsAmt>0</CompReportPrior990RltdOrgsAmt>
      </RltdOrgOfficerTrstKeyEmplGrp>
      <RltdOrgOfficerTrstKeyEmplGrp>
        <BusinessName>
          <BusinessNameLine1Txt>Daniel S McDonnell</BusinessNameLine1Txt>
        </BusinessName>
        <TitleTxt>Men's Baseball Coach</TitleTxt>
        <BaseCompensationFilingOrgAmt>1103517</BaseCompensationFilingOrgAmt>
        <CompensationBasedOnRltdOrgsAmt>0</CompensationBasedOnRltdOrgsAmt>
        <BonusFilingOrganizationAmount>170000</BonusFilingOrganizationAmount>
        <BonusRelatedOrganizationsAmt>0</BonusRelatedOrganizationsAmt>
        <OtherCompensationFilingOrgAmt>21897</OtherCompensationFilingOrgAmt>
        <OtherCompensationRltdOrgsAmt>0</OtherCompensationRltdOrgsAmt>
        <DeferredCompensationFlngOrgAmt>201418</DeferredCompensationFlngOrgAmt>
        <DeferredCompRltdOrgsAmt>0</DeferredCompRltdOrgsAmt>
        <NontaxableBenefitsFilingOrgAmt>17557</NontaxableBenefitsFilingOrgAmt>
        <NontaxableBenefitsRltdOrgsAmt>0</NontaxableBenefitsRltdOrgsAmt>
        <TotalCompensationFilingOrgAmt>1514389</TotalCompensationFilingOrgAmt>
        <TotalCompensationRltdOrgsAmt>0</TotalCompensationRltdOrgsAmt>
        <CompReportPrior990FilingOrgAmt>0</CompReportPrior990FilingOrgAmt>
        <CompReportPrior990RltdOrgsAmt>0</CompReportPrior990RltdOrgsAmt>
      </RltdOrgOfficerTrstKeyEmplGrp>
      <RltdOrgOfficerTrstKeyEmplGrp>
        <BusinessName>
          <BusinessNameLine1Txt>Christopher L Mack</BusinessNameLine1Txt>
        </BusinessName>
        <TitleTxt>Men's Basketball Coach</TitleTxt>
        <BaseCompensationFilingOrgAmt>3991994</BaseCompensationFilingOrgAmt>
        <CompensationBasedOnRltdOrgsAmt>0</CompensationBasedOnRltdOrgsAmt>
        <BonusFilingOrganizationAmount>78500</BonusFilingOrganizationAmount>
        <BonusRelatedOrganizationsAmt>0</BonusRelatedOrganizationsAmt>
        <OtherCompensationFilingOrgAmt>66177</OtherCompensationFilingOrgAmt>
        <OtherCompensationRltdOrgsAmt>0</OtherCompensationRltdOrgsAmt>
        <DeferredCompensationFlngOrgAmt>28000</DeferredCompensationFlngOrgAmt>
        <DeferredCompRltdOrgsAmt>0</DeferredCompRltdOrgsAmt>
        <NontaxableBenefitsFilingOrgAmt>18936</NontaxableBenefitsFilingOrgAmt>
        <NontaxableBenefitsRltdOrgsAmt>0</NontaxableBenefitsRltdOrgsAmt>
        <TotalCompensationFilingOrgAmt>4183607</TotalCompensationFilingOrgAmt>
        <TotalCompensationRltdOrgsAmt>0</TotalCompensationRltdOrgsAmt>
        <CompReportPrior990FilingOrgAmt>0</CompReportPrior990FilingOrgAmt>
        <CompReportPrior990RltdOrgsAmt>0</CompReportPrior990RltdOrgsAmt>
      </RltdOrgOfficerTrstKeyEmplGrp>
      <RltdOrgOfficerTrstKeyEmplGrp>
        <BusinessName>
          <BusinessNameLine1Txt>Fredric Scott Satterfield</BusinessNameLine1Txt>
        </BusinessName>
        <TitleTxt>Head Football Coach</TitleTxt>
        <BaseCompensationFilingOrgAmt>3242584</BaseCompensationFilingOrgAmt>
        <CompensationBasedOnRltdOrgsAmt>0</CompensationBasedOnRltdOrgsAmt>
        <BonusFilingOrganizationAmount>75000</BonusFilingOrganizationAmount>
        <BonusRelatedOrganizationsAmt>0</BonusRelatedOrganizationsAmt>
        <OtherCompensationFilingOrgAmt>823316</OtherCompensationFilingOrgAmt>
        <OtherCompensationRltdOrgsAmt>0</OtherCompensationRltdOrgsAmt>
        <DeferredCompensationFlngOrgAmt>28000</DeferredCompensationFlngOrgAmt>
        <DeferredCompRltdOrgsAmt>0</DeferredCompRltdOrgsAmt>
        <NontaxableBenefitsFilingOrgAmt>18346</NontaxableBenefitsFilingOrgAmt>
        <NontaxableBenefitsRltdOrgsAmt>0</NontaxableBenefitsRltdOrgsAmt>
        <TotalCompensationFilingOrgAmt>4187246</TotalCompensationFilingOrgAmt>
        <TotalCompensationRltdOrgsAmt>0</TotalCompensationRltdOrgsAmt>
        <CompReportPrior990FilingOrgAmt>0</CompReportPrior990FilingOrgAmt>
        <CompReportPrior990RltdOrgsAmt>0</CompReportPrior990RltdOrgsAmt>
      </RltdOrgOfficerTrstKeyEmplGrp>
      <RltdOrgOfficerTrstKeyEmplGrp>
        <BusinessName>
          <BusinessNameLine1Txt>Billy Dwayne Ledford</BusinessNameLine1Txt>
        </BusinessName>
        <TitleTxt>Asst. Football Coach</TitleTxt>
        <BaseCompensationFilingOrgAmt>668376</BaseCompensationFilingOrgAmt>
        <CompensationBasedOnRltdOrgsAmt>0</CompensationBasedOnRltdOrgsAmt>
        <BonusFilingOrganizationAmount>0</BonusFilingOrganizationAmount>
        <BonusRelatedOrganizationsAmt>0</BonusRelatedOrganizationsAmt>
        <OtherCompensationFilingOrgAmt>66385</OtherCompensationFilingOrgAmt>
        <OtherCompensationRltdOrgsAmt>0</OtherCompensationRltdOrgsAmt>
        <DeferredCompensationFlngOrgAmt>28000</DeferredCompensationFlngOrgAmt>
        <DeferredCompRltdOrgsAmt>0</DeferredCompRltdOrgsAmt>
        <NontaxableBenefitsFilingOrgAmt>18515</NontaxableBenefitsFilingOrgAmt>
        <NontaxableBenefitsRltdOrgsAmt>0</NontaxableBenefitsRltdOrgsAmt>
        <TotalCompensationFilingOrgAmt>781276</TotalCompensationFilingOrgAmt>
        <TotalCompensationRltdOrgsAmt>0</TotalCompensationRltdOrgsAmt>
        <CompReportPrior990FilingOrgAmt>0</CompReportPrior990FilingOrgAmt>
        <CompReportPrior990RltdOrgsAmt>0</CompReportPrior990RltdOrgsAmt>
      </RltdOrgOfficerTrstKeyEmplGrp>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Schedule J, Part I, Line 1a First-class or charter travel</FormAndLineReferenceDesc>
        <ExplanationTxt>Both the men's basketball and football teams travel to away competitions on charter planes. Charter service is submitted for competitive bids for both teams to obtain the price/service. This process is per industry standard for the majority of Division 1 schools. Per the organization's policies, first class airfare cannot be expensed back to the organization.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Schedule J, Part I, Line 1a Travel for companions</FormAndLineReferenceDesc>
        <ExplanationTxt>The organization obtains approval from the President's Office for all travel of athletic staff family members to special events such as post-season competitions, holiday tournaments, and other events where spouses are expected to attend for bona fide business purposes. Expenses are covered from unrestricted monies and not part of the Athletic Association's operating budget. All spousal or family member travel is taxed as applicable according to IRS rules and regulations.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Schedule J, Part I, Line 1a Tax indemnification and gross-up payments</FormAndLineReferenceDesc>
        <ExplanationTxt>Fredric Scott Satterfield - $350,600 tax gross up on buyout of employment contract with previous employer. The tax benefit was treated as taxable compensation to the employee. Billy Dwayne Ledford - $10,355 tax gross up on buyout of employment contract with previous employer. The tax benefit was treated as taxable compensation to the employee.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Schedule J, Part I, Line 1a Health or social club dues or initiation fees</FormAndLineReferenceDesc>
        <ExplanationTxt>The organization is authorized to provide country club memberships for the athletic director and some of its coaching staff as part of their respective employment contracts. These benefits are taxed accordingly where provided.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleJ>
    <IRS990ScheduleK documentId="IRS990ScheduleK1" softwareId="19010655" softwareVersionNum="2019v5.0">
      <TaxExemptBondsIssuesGrp>
        <BondReferenceCd>A</BondReferenceCd>
        <IssuerName>
          <BusinessNameLine1Txt>University of Louisville</BusinessNameLine1Txt>
        </IssuerName>
        <BondIssuerEIN>611014882</BondIssuerEIN>
        <CUSIPNum>914391R41</CUSIPNum>
        <BondIssuedDt>2016-12-27</BondIssuedDt>
        <IssuePriceAmt>81099955</IssuePriceAmt>
        <PurposeDesc>Retire 2008 Bonds for finance of football stadium expansion</PurposeDesc>
        <DefeasedInd>false</DefeasedInd>
        <OnBehalfOfIssuerInd>false</OnBehalfOfIssuerInd>
        <PoolFinancingInd>false</PoolFinancingInd>
      </TaxExemptBondsIssuesGrp>
      <TaxExemptBondsProceedsGrp>
        <BondReferenceCd>A</BondReferenceCd>
        <RetiredAmt>7835000</RetiredAmt>
        <BondDefeasedAmt>0</BondDefeasedAmt>
        <TotalProceedsAmt>81720127</TotalProceedsAmt>
        <InReserveFundAmt>0</InReserveFundAmt>
        <CapitalizedInterestAmt>0</CapitalizedInterestAmt>
        <RefundingEscrowAmt>30980902</RefundingEscrowAmt>
        <IssuanceCostsFromProceedsAmt>511804</IssuanceCostsFromProceedsAmt>
        <CreditEnhancementAmt>0</CreditEnhancementAmt>
        <WorkingCapitalExpendituresAmt>0</WorkingCapitalExpendituresAmt>
        <CapitalExpendituresAmt>49607250</CapitalExpendituresAmt>
        <OtherSpentProceedsAmt>0</OtherSpentProceedsAmt>
        <UnspentAmt>620171</UnspentAmt>
        <SubstantialCompletionYr>2018</SubstantialCompletionYr>
        <RefundingTaxExemptBondsInd>false</RefundingTaxExemptBondsInd>
        <RefundingTaxableBondsInd>true</RefundingTaxableBondsInd>
        <FinalAllocationMadeInd>true</FinalAllocationMadeInd>
        <AdequateBooksAndRecMaintInd>true</AdequateBooksAndRecMaintInd>
      </TaxExemptBondsProceedsGrp>
      <TaxExemptBondsPrivateBusUseGrp>
        <BondReferenceCd>A</BondReferenceCd>
        <OwningBondFinancedPropertyInd>false</OwningBondFinancedPropertyInd>
        <AnyLeaseArrangementsInd>false</AnyLeaseArrangementsInd>
        <MgmtContractBondFincdPropInd>true</MgmtContractBondFincdPropInd>
        <EngageBondCounselContractsInd>true</EngageBondCounselContractsInd>
        <AnyResearchAgreementsInd>false</AnyResearchAgreementsInd>
        <PrivateBusUseByOthersPct>0.154</PrivateBusUseByOthersPct>
        <PrivateBusConcerningUBIPct>0.0</PrivateBusConcerningUBIPct>
        <TotalPrivateBusinessUsePct>0.154</TotalPrivateBusinessUsePct>
        <BondIssMeetPrvtSecPymtTestInd>false</BondIssMeetPrvtSecPymtTestInd>
        <ChangeInUseBondFinancedPropInd>false</ChangeInUseBondFinancedPropInd>
        <ProcsNonqualifiedBondRemdtdInd>true</ProcsNonqualifiedBondRemdtdInd>
      </TaxExemptBondsPrivateBusUseGrp>
      <TaxExemptBondsArbitrageGrp>
        <BondReferenceCd>A</BondReferenceCd>
        <Form8038TFiledInd>false</Form8038TFiledInd>
        <RebateNotDueYetInd>false</RebateNotDueYetInd>
        <ExceptionToRebateInd>false</ExceptionToRebateInd>
        <NoRebateDueInd>true</NoRebateDueInd>
        <VariableRateIssueInd>false</VariableRateIssueInd>
        <HedgeIdentifiedInBksAndRecInd>false</HedgeIdentifiedInBksAndRecInd>
        <GrossProceedsInvestedInGICInd>false</GrossProceedsInvestedInGICInd>
        <RegulatorySafeHarborStsfdInd>false</RegulatorySafeHarborStsfdInd>
        <GrossProceedsInvestedInd>false</GrossProceedsInvestedInd>
        <WrittenProcToMonitorReqsInd>true</WrittenProcToMonitorReqsInd>
      </TaxExemptBondsArbitrageGrp>
      <ProceduresCorrectiveActionGrp>
        <BondReferenceCd>A</BondReferenceCd>
        <ProceduresCorrectiveActionInd>true</ProceduresCorrectiveActionInd>
      </ProceduresCorrectiveActionGrp>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Schedule K, Part II, Line 3 Total Proceeds of Issue</FormAndLineReferenceDesc>
        <ExplanationTxt>TOTAL PROCEEDS OF $81,720,127 LESS ALLOCATED INTEREST EARNINGS OF $620,172 RECONCILES TO THE ISSUE PRICE OF $81,099,955.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Schedule K, Part III, Line 6 Private Business Use</FormAndLineReferenceDesc>
        <ExplanationTxt>Pertains to various naming rights contracts. The average annual yearly private business use percent over the measurement period is 8.23 percent.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Schedule K, Part IV, Line 2c Rebate computation</FormAndLineReferenceDesc>
        <ExplanationTxt>As of the most recent calculation dated June 30, 2020, the bond has negative rebatable arbitrage totaling ($1,969,353).</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleK>
    <IRS990ScheduleM documentId="IRS990ScheduleM" softwareId="19010655" softwareVersionNum="2019v5.0">
      <SecuritiesPubliclyTradedGrp>
        <NonCashCheckboxInd>X</NonCashCheckboxInd>
        <ContributionCnt>3</ContributionCnt>
        <NoncashContributionsRptF990Amt>242537</NoncashContributionsRptF990Amt>
        <MethodOfDeterminingRevenuesTxt>Market value</MethodOfDeterminingRevenuesTxt>
      </SecuritiesPubliclyTradedGrp>
      <FoodInventoryGrp>
        <NonCashCheckboxInd>X</NonCashCheckboxInd>
        <ContributionCnt>1</ContributionCnt>
        <NoncashContributionsRptF990Amt>59500</NoncashContributionsRptF990Amt>
        <MethodOfDeterminingRevenuesTxt>Market value</MethodOfDeterminingRevenuesTxt>
      </FoodInventoryGrp>
      <Form8283ReceivedCnt>0</Form8283ReceivedCnt>
      <AnyPropertyThatMustBeHeldInd>false</AnyPropertyThatMustBeHeldInd>
      <ReviewProcessUnusualNCGiftsInd>true</ReviewProcessUnusualNCGiftsInd>
      <ThirdPartiesUsedInd>false</ThirdPartiesUsedInd>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Schedule M, Part I Explanations of reporting method for number of contributions</FormAndLineReferenceDesc>
        <ExplanationTxt>Securities - Publicly traded - CONTRIBUTIONS OF MULTIPLE SHARES OF STOCK Food inventory - Catering/food</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleM>
    <IRS990ScheduleO documentId="IRS990ScheduleO" softwareId="19010655" softwareVersionNum="2019v5.0">
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Form 990, Part VI, Line 18 TAX RETURN DISCLOSURE</FormAndLineReferenceDesc>
        <ExplanationTxt>COPIES OF THE ORGANIZATION'S MOST RECENT FORMS 990 AND 990-T ARE AVAILABLE UPON REQUEST.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Form 990, Part VI, Line 4 Significant changes to organizational documents</FormAndLineReferenceDesc>
        <ExplanationTxt>The organization's bylaws were amended during the year to provide the President with more agility and control over the decision-making processes of the Board, while also providing her and the organization's Athletic Director the opportunity for collaboration with and input from the multiple and varied constituents of the organization. Additionally, these changes were informed and governed by the requirements of the National College Athletic Association's (NCAA's) Constitution, which establishes the framework for "Institutional Control" which must reside with the President of an institution. Multiple meetings were held and input was solicited from every interested director of the organization with regard to these changes. Specifically, changes to the organization's bylaws include: 1. Clarified the composition of the 29 members of the board of directors: a. President, with a term coterminous to term as president b. Faculty Athletics Representative (FAR), with a term coterminous to term as FAR c. Eight (8) faculty with 3-year terms (i) 6 elected from Faculty Assembly (ii) 2 appointed by president d. Four (4) administrators with 1-year terms, appointed by the president e. Two (2) vice presidents with 1-year terms, appointed by the president f. Two (2) university trustees with 1-year terms, appointed by the chair of BOT g. Two (2) students with 1-year terms, appointed by the president h. One (1) staff member with 1-year term, appointed by the president i. Eight (8) at-large members with 3-year terms, appointed by the president 2. Set all terms to begin on July 1, in line with beginning of each fiscal year 3. Codified the procedures for election of Faculty members by Faculty Assembly 4. Expanded President's power in the appointment of 2 faculty members 5. Removed initial terms of board members (redundant and moot) 6. Clarified composition of the 8 members of the Executive Committee: a. Chair of the board (president) b. FAR c. One (1) vice president d. One (1) administrator e. One (1) faculty member f. One (1) trustee g. One (1) at-large member h. The Responsible Officer (VP for Athletics) as non-voting, ex officio 7. Expanded and clarified the powers of the Executive Committee a. To act for the board in the interim between regular meetings (to swiftly hire head coaches) b. To elect, appoint, or remove members of the board c. Any majority vote for an action must include the President voting in the affirmative 8. Clarified chair of Finance and Budget Committee (to be Treasurer) 9. Clarified the powers of the Personnel Committee a. To recommend employment of AD and Associate AD's b. Removed head coaches (Executive Committee will now do so) 10. Removed moot sections regarding committees 11. Clarified the appointment and duties of the FAR a. Appointed by the president b. Must be tenured faculty member who is not also an administrator or coach in Athletics c. Added more robust description of the FAR 12. Clarified officers of the board</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Form 990, Part VI, Line 7b Decisions requiring approval by members or stockholders</FormAndLineReferenceDesc>
        <ExplanationTxt>The organization's bylaws were amended during the year to modify the composition of the organization's executive committee and expand its powers. The executive committee includes the following members: (1) Chair of the board or the chair's designee; (2) Faculty Athletics Representative to the NCAA (FAR); (3) One vice president; (4) One administrator; (5) One faculty member; (6) One trustee; (7) One at-large member; and (8) the Responsible Officer (VP for Athletics) as non-voting, ex officio. The powers of the committee were expanded and clarified to act for the board in the interim between regular meetings (to swiftly hire head coaches) and to elect, appoint, or remove other members of the board. Any majority vote for an action must include the President voting in the affirmative.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Form 990, Part VI, Line 8b Documentation of meetings held by committees of governing body</FormAndLineReferenceDesc>
        <ExplanationTxt>THIS QUESTION HAS BEEN MARKED "NO" IN ACCORDANCE WITH THE IRS INSTRUCTIONS SINCE THE ORGANIZATION HAS NO SUCH COMMITTEES.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Form 990, Part VI, Line 11b Review of form 990 by governing body</FormAndLineReferenceDesc>
        <ExplanationTxt>University of Louisville finance personnel and an outside firm prepared the return and a copy of the return was provided to all board members for review prior to filing.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Form 990, Part VI, Line 12c Conflict of interest policy</FormAndLineReferenceDesc>
        <ExplanationTxt>If an item is presented to the Board of Directors (or any other policy board) for action, e.g., purchase of property, merging with another entity, buying services, etc., 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, e.g., 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. Before any meeting of the various boards, an agenda is circulated to each member or director with descriptions of the action items. This allows sufficient time for any board member or director to alert the board about a potential conflict of interest. Past practice includes written disclosure by the board member outlining: (1) that a conflict of interest may exist; (2) the nature and extent of the conflict; and (3) the description and potential benefit, direct or indirect, to the member of the board. This information will be supplied to legal counsel and the entire board ahead of the meeting, and a copy of the information will be maintained in the board member's file.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Form 990, Part VI, Line 15a Process to establish compensation of top management official</FormAndLineReferenceDesc>
        <ExplanationTxt>The process for determining compensation of the organization's Athletic Director, the top management official, involved all of the following elements: - Data gathering and analysis of compensation at comparably sized organizations by an independent third-party consulting firm along with benchmarking against other qualified officials in similarly situated positions; - Review and approval of the third-party firm's analysis by the organization's independent personnel committee; - Review and approval by the organization's board of directors pursuant to feedback from the personnel and the third-party consulting firm; and - Contemporaneous documentation of the compensation determination process by the third-party consulting firm and by both the personnel committee and the board of directors in each body's respective minutes.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Form 990, Part VI, Line 15b Process to establish compensation of other employees</FormAndLineReferenceDesc>
        <ExplanationTxt>THE PROCESS FOR DETERMINING COMPENSATION OF THE DEPUTY ATHLETIC DIRECTOR INVOLVED ALL OF THE FOLLOWING ELEMENTS: - Data gathering by the board's independent personnel committee and analysis of compensation at comparably sized organizations along with benchmarking against other qualified officials in similarly situated positions; - Review and approval by the organization's board of directors; and - Contemporaneous documentation of the compensation determination process by the organization's administration and by the personnel committee and the board of directors in each body's respective minutes.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Form 990, Part VI, Line 19 Required documents available to the public</FormAndLineReferenceDesc>
        <ExplanationTxt>Copies of the organization's financial statements, articles of incorporation, and conflict of interest policy are available at www.louisville.edu or upon request.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleO>
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          <BusinessNameLine1Txt>UNIVERSITY OF LOUISVILLE</BusinessNameLine1Txt>
        </DisregardedEntityName>
        <USAddress>
          <AddressLine1Txt>UNIVERSITY OF LOUISVILLE</AddressLine1Txt>
          <CityNm>LOUISVILLE</CityNm>
          <StateAbbreviationCd>KY</StateAbbreviationCd>
          <ZIPCd>40292</ZIPCd>
        </USAddress>
        <EIN>611014882</EIN>
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        <LegalDomicileStateCd>KY</LegalDomicileStateCd>
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        </DirectControllingEntityName>
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      <IdRelatedTaxExemptOrgGrp>
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          <BusinessNameLine1Txt>UNIVERSITY OF LOUISVILLE RESEARCH FOUNDATION INC</BusinessNameLine1Txt>
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          <AddressLine1Txt>UNIVERSITY OF LOUISVILLE</AddressLine1Txt>
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          <StateAbbreviationCd>KY</StateAbbreviationCd>
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        <LegalDomicileStateCd>KY</LegalDomicileStateCd>
        <ExemptCodeSectionTxt>501(c)(3)</ExemptCodeSectionTxt>
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          <AddressLine1Txt>550 SOUTH JACKSON STREET</AddressLine1Txt>
          <CityNm>LOUISVILLE</CityNm>
          <StateAbbreviationCd>KY</StateAbbreviationCd>
          <ZIPCd>40202</ZIPCd>
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        <LegalDomicileStateCd>KY</LegalDomicileStateCd>
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          <AddressLine1Txt>323 EAST CHESTNUT STREET</AddressLine1Txt>
          <CityNm>LOUISVILLE</CityNm>
          <StateAbbreviationCd>KY</StateAbbreviationCd>
          <ZIPCd>402021823</ZIPCd>
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        <PrimaryActivitiesTxt>MEDICAL CARE</PrimaryActivitiesTxt>
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          <BusinessNameLine1Txt>UNIVERSITY OF LOUISVILLE</BusinessNameLine1Txt>
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      <ReceiptOfIntAnntsRntsRyltsInd>false</ReceiptOfIntAnntsRntsRyltsInd>
      <GiftGrntOrCapContriToOthOrgInd>true</GiftGrntOrCapContriToOthOrgInd>
      <GiftGrntCapContriFromOthOrgInd>true</GiftGrntCapContriFromOthOrgInd>
      <LoansOrGuaranteesToOtherOrgInd>false</LoansOrGuaranteesToOtherOrgInd>
      <LoansOrGuaranteesFromOthOrgInd>true</LoansOrGuaranteesFromOthOrgInd>
      <DivRelatedOrganizationInd>false</DivRelatedOrganizationInd>
      <AssetSaleToOtherOrgInd>false</AssetSaleToOtherOrgInd>
      <AssetPurchaseFromOtherOrgInd>false</AssetPurchaseFromOtherOrgInd>
      <AssetExchangeInd>false</AssetExchangeInd>
      <RentalOfFacilitiesToOthOrgInd>false</RentalOfFacilitiesToOthOrgInd>
      <RentalOfFcltsFromOthOrgInd>false</RentalOfFcltsFromOthOrgInd>
      <PerformOfServicesForOthOrgInd>false</PerformOfServicesForOthOrgInd>
      <PerformOfServicesByOtherOrgInd>true</PerformOfServicesByOtherOrgInd>
      <SharingOfFacilitiesInd>true</SharingOfFacilitiesInd>
      <PaidEmployeesSharingInd>true</PaidEmployeesSharingInd>
      <ReimbursementPaidToOtherOrgInd>true</ReimbursementPaidToOtherOrgInd>
      <ReimbursementPaidByOtherOrgInd>true</ReimbursementPaidByOtherOrgInd>
      <TransferToOtherOrgInd>false</TransferToOtherOrgInd>
      <TransferFromOtherOrgInd>false</TransferFromOtherOrgInd>
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