2021-05-21T11:38:28-05:00 2020-06-30 611064249 DEMING MALONE LIVESAY & OSTROFF PSC 9300 SHELBYVILLE RD STE 1100 LOUISVILLE KY 402225187 990 2019-07-01 237078461 UNIVERSITY OF LOUISVILLE FOUNDATION INC UNIV 5028527300 215 CENTRAL AVENUE NO 212 LOUISVILLE KY 40208 KEITH SHERMAN EXECUTIVE DIRECTOR & COO 5028527300 2021-05-21 1 CHRISTINE N KOENIG P01022180 5024269660 2019 2022-09-23 18:48:47Z KEITH SHERMAN 215 CENTRAL AVENUE NO 212 LOUISVILLE KY 40208 67917705 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 14 22 2507468 0 40863854 62343858 0 0 1803864 429358 14744500 3942135 57412218 66715351 61740939 67760145 0 0 2978419 3008849 0 0 0 11213381 12345777 75932739 83114771 -18520521 -16399420 861586142 841865659 68121102 65636165 793465040 776229494 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 77285128 67760145 1293283 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. 77285128 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 28 0 1 14 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 5028527300 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 JILL FORCE DIRECTOR 0.50 0.50 X 0 0 0 SANDRA FRAZIER 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 JASPER NOBLE 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 JOHN SMITH DIRECTOR 0.50 0.50 X 0 0 0 JOHN THOMPSON DIRECTOR 0.50 0.50 X 0 0 0 KRISTA WALLACE-BOAZ DIRECTOR 0.50 0.50 X 0 0 0 RON ABRAMS DIRECTOR (PREVIOUS) 0.50 0.50 X 0 0 0 DAVID GRISSOM DIRECTOR (PREVIOUS) 0.50 0.50 X 0 0 0 TOM MEEKER DIRECTOR (PREVIOUS) 0.50 0.50 X 0 0 0 NITIN SAHNEY DIRECTOR (PREVIOUS) 0.50 0.50 X 0 0 0 KEITH SHERMAN EXECUTIVE DIRECTOR & COO 27.50 1.00 X 231889 0 41635 SUSAN MAGNESS DIRECTOR OF BUDGET 20.00 0.00 X 122524 0 11964 REGINA LANSKWERT DIRECTOR OF ADMINISTRATION 43.00 0.00 X 143043 0 11725 JUSTIN RUHL CONTROLLER 38.00 3.00 X 109730 0 29635 JOHN BALLARD GOLF COURSE SUPERINTENDENT 40.00 0.00 X 156869 0 22442 764055 0 117401 5 0 1 0 CAMBRIDGE ASSOCIATES LLC 125 HIGH STREET BOSTON MA 02110 INVESTMENT MANAGEMENT 1161236 CENTERPLATE - SERVICE AMERICA 1 INDEPENDENCE POINT SUITE 305 GREENVILLE SC 29615 HOSPITALITY SERVICES 842472 CAMPBELL PARTNERS LLC 505 20TH ST NORTH SUITE 1600 BIRMINGHAM AL 35203 LEGAL SERVICES 634071 ERNST & YOUNG LLP 400 W MARK ST STE 1200 LOUISVILLE KY 40202 ACCOUNTING SERVICES 425000 NTS MANAGEMENT COMPANY 500 N HURSTBOURNE PKWY STE 400 LOUISVILLE KY 40222 PROPERTY MANAGEMENT 406572 8 X 2455059 270500 59618299 9429857 62343858 429358 429358 1343738 1202354 141384 141384 141384 GOLF COURSE REVENUE 900099 2507468 2507468 PROFESSIONAL FEES AND SERVICES 611710 639144 639144 ACTUARIAL GAIN - ANNUITY, TRUST 900099 542000 542000 112139 112139 3800751 66715351 1293283 2507468 570742 67760145 67760145 315943 315943 1991049 914871 1076178 85899 85899 534219 186347 347872 81739 69672 12067 1582637 1582637 239352 239352 1036272 1036272 108059 24359 83700 74502 72000 2502 249213 249213 68463 68463 810270 137956 672314 46680 43382 3298 1906158 1839965 66193 357639 117432 240207 154975 154975 CHANGE-PLEDGE RESERVE 4196031 4196031 ANNUITANT PAYMENTS 800797 800797 CATERING 506673 506673 MISCELLANEOUS EXPENSES 208056 208056 83114771 77285128 5829643 0 2564548 5348072 6147794 49918910 15719024 13973358 827524 843018 33129555 32137595 93888 85169 411385 407163 39148550 7637892 31648479 31510658 142458456 164058710 551823099 468907178 76762390 74675828 861586142 841865659 1936340 2073396 4931810 4836780 19554772 13635286 35575603 34276859 6122577 10813844 68121102 65636165 X 41411067 45049037 752053973 731180457 793465040 776229494 861586142 841865659 X -16399420 -836126 0 X 0 1 X 1 0 X 54953917 29069195 36311750 40863854 62343858 223542574 54953917 29069195 36311750 40863854 62343858 223542574 43534503 180008071 11608775 7475201 16734488 3956417 1773096 41547977 265090551 28546212 0.67900 0.64420 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 644598337 13975825 -10491072 8461731 3755915 635865444 770214045 10790972 10008041 141912795 4501926 644598337 746866750 4457783 54386489 24667409 10829568 770214045 708152893 4793830 72691984 28503740 10268217 746866750 770851166 8028257 -7423307 52125881 11177342 708152893 0.24650 0.70770 0.04580 1 0 12028085 12028085 21482977 4842273 16640704 1583510 1324122 259388 4053978 1471497 2582481 31510658 PARTNERSHIP INVESTMENTS 462278213 F MISCELLANEOUS INVESTMENTS 6628965 F 468907178 INTERCOMPANY RECEIVABLES 16160194 FUNDS HELD IN TRUST BY OTHERS 58515634 74675828 DUE TO UNIVERSITY OF LOUISVILLE 3780861 DUE TO U OF L HEALTH 2500000 ANNUITIES AND TRUSTS PAYABLE 4459232 DEFERRED COMPENSATION 73751 10813844 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. THE FOUNDATION SERVES IN AN AGENCY CAPACITY AND INVESTS FUNDS ON BEHALF OF THE ASSOCIATION. AS OF JUNE 30, 2020, THE FOUNDATION HELD APPROXIMATELY $5.5 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, 2020, THE FOUNDATION HELD APPROXIMATELY $8.0 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, 2020, THE FOUNDATION HELD APPROXIMATELY $200,000 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, 2020 OR 2019. CENTRAL AMERICA AND THE CARIBBEAN INVESTMENTS 145337539 EUROPE (INCLUDING ICELAND AND GREENLAND) INVESTMENTS 15873791 0 0 0 0 0 0 161211330 0 161211330 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 48958226 1281827 FAIR VALUE BOOKS, FOOD, RENT, EQUIPMENT. OPERATIONAL AND DEVELOPMENT SUPPORT U OF L HEALTH - LOUISVILLE INC 530 S JACKSON ST LOUISVILLE KY 40202 843178470 501(C)(3) 17520092 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. X X 0 0 0 0 0 0 0 0 0 KEITH SHERMAN EXECUTIVE DIRECTOR & COO 231115 0 0 0 774 0 24000 0 17635 0 273524 0 0 0 REGINA LANSKWERT DIRECTOR OF ADMINISTRATION 115100 0 0 0 27943 0 11725 0 0 0 154768 0 0 0 JOHN BALLARD GOLF COURSE SUPERINTENDENT 119373 0 10000 0 27496 0 12458 0 9984 0 179311 0 0 0 PART I, LINE 3 THE BOARD OF DIRECTORS APPROVED COMPENSATION OF THE EXECUTIVE DIRECTOR & COO. X 157270 DONOR VALUE X 7469601 FAIR VALUE X 1 800000 APPRAISED VALUE X 4 69055 DONOR VALUE X MISCELLANEOUS 18 585109 DONOR VALUE X EQUIPMENT & SUPPLIES 10 348822 DONOR VALUE 0 0 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 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 GAIN ON ANNUITY AND TRUST OBLIGATIONS AND PRESENT VALUE DISCOUNT OF $542,000 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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