2020-06-29T12:22:43-05:00 2019-06-30 611064249 DEMING MALONE LIVESAY & OSTROFF PSC 9300 SHELBYVILLE RD STE 1100 LOUISVILLE KY 402225187 990 2018-07-01 472373203 UNIVERSITY OF LOUISVILLE REAL ESTATE FOUNDATION INC UNIV 5028527300 215 CENTRAL AVE NO 212 LOUISVILLE KY 40208 KEITH SHERMAN EXECUTIVE DIRECTOR & COO 5028527300 2020-06-08 1 CHRISTINE N KOENIG P01022180 5024269660 174.47.177.202 2020-06-08 14:57:52 ED P A49D4650415329FE8467BE13DDDA3EC00D4B5CD3 CD6940A15B8FC390C624DF84BBFDCA23F6BBE2D9 2018 2020-11-19 02:30:22Z KEITH SHERMAN 215 CENTRAL AVE NO 212 LOUISVILLE KY 40208 45045459 0 X N/A X 2014 KY TO ACQUIRE, MAINTAIN, IMPROVE, LEVERAGE, MANAGE, LEASE, AND CONVEY PROPERTY (SEE SCHEDULE O) FOR THE BENEFIT OF THE UNIVERSITY OF LOUISVILLE. 10 9 0 10 99753 0 12580000 10735431 4920861 11324776 520521 2380078 1028536 18899025 19049918 43339310 2150278 968140 0 0 150000 0 0 0 0 5897942 11522981 8198220 12491121 10851698 30848189 96836737 168218960 54654875 90407373 42181862 77811587 TO ACQUIRE, MAINTAIN, IMPROVE, LEVERAGE, MANAGE, LEASE, AND CONVEY REAL AND PERSONAL PROPERTY FOR THE BENEFIT OF THE UNIVERSITY OF LOUISVILLE. 0 0 12108649 968140 30124048 THE REAL ESTATE ASSETS HELD BY THE FOUNDATION ARE USED BY, OR FOR THE BENEFIT OF, THE UNIVERSITY OF LOUISVILLE. 12108649 1 1 0 0 0 0 0 0 0 0 1 1 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 1 20 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 0 X 10 9 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 5028527300 215 CENTRAL AVE SUITE 212 LOUISVILLE KY 40208 NEELI BENDAPUDI DIRECTOR 1.00 0.50 X 0 496610 33893 PAUL CARRICO DIRECTOR 2.00 0.50 X 0 0 0 STEVE GAULT VICE CHAIR 2.00 0.50 X X 0 0 0 MARIAH GRATZ DIRECTOR 1.00 0.50 X 0 0 0 CRAIG HAWLEY SECRETARY & TREASURER 2.00 0.50 X X 0 0 0 ROBERT KOETTER DIRECTOR 3.00 0.50 X 0 0 0 DERRICK LITTLEJOHN DIRECTOR 1.00 0.50 X 0 0 0 KEN PAYNE CHAIR 1.00 0.50 X X 0 0 0 EARL REED DIRECTOR 1.00 0.50 X 0 0 0 SANDY METTS SNOWDEN DIRECTOR 1.00 0.50 X 0 0 0 MICHAEL BOWERS DIRECTOR (PREVIOUS) 1.00 0.50 X 0 0 0 KEITH SHERMAN EXECUTIVE DIRECTOR & COO 5.00 0.50 X 0 0 0 0 496610 33893 0 0 1 0 NTS MANAGEMENT COMPANY 500 N HURSTBOURNE PWKY STE 400 LOUISVILLE KY 40222 PROPERTY MANAGEMENT 681451 EXTREME PROPERTY MANAGEMENT LLC 6300 POPLAR TREE CT LOUISVILLE KY 40228 CONSTRUCTION SERVICES 608386 FIRST CLASS COMMERCIAL CLEANING 10104 MERIONETH DR LOUISVILLE KY 40299 OFFICE CLEANING 271871 WYATT TARRANT & COMBS LLP 500 W JEFFERSON ST STE 2800 LOUISVILLE KY 40202 LEGAL SERVICES 147667 HELLOSPOKE 118 E MAIN ST STE 100 LOUISVILLE KY 40202 CLOUD COMMUNICATION PROVIDER 119460 7 10735431 10735431 RENTAL INCOME 531390 11324776 11225023 99753 11324776 486227 486227 3600000 1706149 1893851 1893851 1893851 TRANSFER FROM ULH 900099 18852936 18852936 MISCELLANEOUS 900099 46089 46089 18899025 43339310 30124048 99753 2380078 X 968140 968140 106028 106028 131740 131740 1679676 1534972 144704 22114 22114 143515 143515 32307 32307 2791604 2791604 57666 57666 801 801 2319716 2319716 3685845 3685845 263195 263195 LOAN FEES 238192 238192 BAD DEBT 33781 33781 MISCELLANEOUS 15261 15261 PROFESSIONAL DEVELOPMEN 1540 1540 12491121 12108649 382472 0 312727 2826352 317694 809580 121586 1320529 162105343 10100410 84087045 152004933 543864 234966 9139837 8511959 2313984 2510641 96836737 168218960 4732025 1237042 521044 167474 329327 663994 16000000 62597055 26797133 21480443 6275346 4261365 54654875 90407373 X 42181862 77811587 42181862 77811587 96836737 168218960 X 30848189 -523788 5305324 X X 0 1 X 1 0 X X X 1 UNIVERSITY OF LOUISVILLE 611014882 6 1 0 968140 1 0 968140 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 X SCHEDULE A, PART 1, LINE 12G(VI) THE FOUNDATION ALLOWS THE UNIVERSITY OF LOUISVILLE TO USE CERTAIN PROPERTIES ON A RENT-FREE OR REDUCED RENT BASIS. THE FOUNDATION HAS DETERMINED THAT THE FAIR VALUE OF THOSE RENTS WAS $968,140. SCHEDULE A, PART IV, SECTION E, LINE 1C THE FOUNDATION ACQUIRED, MAINTAINED, IMPROVED, LEVERAGED, MANAGED, LEASED, AND CONVEYED REAL AND PERSONAL PROPERTY FOR THE BENEFIT OF THE UNIVERSITY OF LOUISVILLE. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 51721873 51721873 106532078 9301876 97230202 3851392 798534 3052858 152004933 INVESTMENTS IN JOINT VENTURES 5973346 C INVESTMENT IN SUBSIDIARY 2538613 C 8511959 DUE TO UNIVERSITY OF LOUISVILLE 4261365 4261365 X PART X, LINE 2: ULREF COMPLETED AN ANALYSIS OF ITS 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, 2019 AND 2018. 1 UNIVERSITY OF LOUISVILLE 2301 S 3RD ST LOUISVILLE KY 40208 611014882 SECTION 115 968140 FMV RENT-FREE OR REDUCED RENT USE OF PROPERTY SUPPORTED ORGANIZATION 0 1 PART I, LINE 2: THE FOUNDATION GRANTS RENT-FREE OR REDUCED RENT OF PROPERTIES TO THE UNIVERSITY OF LOUISVILLE. THE FOUNDATION MAY ALSO PROVIDE GENERAL SUPPORT TO RELATED ORGANIZATIONS. 0 0 0 0 0 0 0 0 0 NEELI BENDAPUDI DIRECTOR 0 405368 0 0 0 91242 0 27500 0 6393 0 530503 0 0 PART I, LINE 3 THE ORGANIZATION DOES NOT COMPENSATE ITS TOP MANAGEMENT OFFICIAL, THE EXECUTIVE DIRECTOR & CHIEF OPERATING OFFICER. THE TOP MANAGEMENT OFFICIAL'S COMPENSATION TERMS WERE ESTABLISHED BY THE UNIVERSITY OF LOUISVILLE FOUNDATION, INC. FORM 990, PART VI, SECTION A, LINE 4 THE FOUNDATION'S BYLAWS WERE REVISED TO CHANGE THE NUMBER AND TYPES OF DIRECTORS, CHANGE WHICH ENTITIES HAVE THE ABILITY TO APPOINT DIRECTORS, AND CHANGE THE LENGTH AND NUMBER OF TERMS. THE BYLAWS DEFINED THE RESPONSIBILITIES OF THE FOUNDATION'S STANDING COMMITTEES AND DEFINED THE RESPONSIBLITIES OF EXECUTIVE STAFF. THE BYLAWS ADDED STATEMENTS OF GENERAL POLICY ON CONFLICT OF INTEREST AND INCLUDE FURTHER INDEMNIFICATION PROVISIONS. 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, DIRECTOR OF FOUNDATION ACCOUNTING OPERATIONS, AND EXECUTIVE DIRECTOR & CHIEF OPERATING OFFICER. THE RETURN IS REVIEWED BY THE FOUNDATION'S LEGAL COUNSEL AND THEN BY THE CHAIR OF THE AUDIT COMMITTEE. THE FULL BOARD OF DIRECTORS 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. 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. BOARD/COMMITTEE CHAIRS SAY THE FOLLOWING AT THE BEGINNING OF MEETINGS: AS CHAIR IT IS MY RESPONSIBILITY TO REMIND ALL MEMBERS OF THE BOARD OF THEIR RESPONSIBILITY TO AVOID CONFLICTS OF INTEREST AND EVEN APPEARANCES OF CONFLICTS OF INTEREST. EACH MEMBER HAS RECEIVED THE AGENDA AND RELATED INFORMATION FOR THIS BOARD MEETING. IF ANY BOARD MEMBER KNOWS OF ANY CONFLICTS OF INTEREST OR APPEARANCES OF CONFLICTS OF INTEREST WITH RESPECT TO ANY MATTER COMING BEFORE THE BOARD AT THIS MEETING TODAY PLEASE IDENTIFY THE CONFLICT, OR APPEARANCE OF CONFLICT, AT THIS TIME. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION DOES NOT COMPENSATE THE EXECUTIVE DIRECTOR & CHIEF OPERATING OFFICER. THE EXECUTIVE DIRECTOR & CHIEF OPERATING OFFICER IS COMPENSATED BY THE UNIVERSITY OF LOUISVILLE FOUNDATION, INC. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES THESE DOCUMENTS AVAILABLE UPON REQUEST. THE 990 IS ALSO AVAILABLE ON THE UNIVERSITY OF LOUISVILLE FOUNDATION WEBSITE. FORM 990, PART VI, SECTION B, LINE 16B THE ORGANIZATION'S PRACTICE IS TO OBTAIN BOARD APPROVAL PRIOR TO ENTERING INTO A JOINT VENTURE. FORM 990, PART IX, LINE 11G OTHER FEES: PROGRAM SERVICE EXPENSES 1,120,017. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,120,017. SERVICE AGREEMENT: PROGRAM SERVICE EXPENSES 414,955. MANAGEMENT AND GENERAL EXPENSES 144,704. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 559,659. FORM 990, PART XI, LINE 9: ACQUISITION OF MINORITY INTEREST IN 220 SOUTH PRESTON, LLC 5,305,324. FORM 990, PART XII, LINE 2C: AN AUDIT OF THE CONSOLIDATED FINANCIAL STATEMENTS OF UNIVERSITY OF LOUISVILLE REAL ESTATE FOUNDATION, INC. AND AFFILIATES IS PERFORMED BY AN INDEPENDENT FIRM. THE AUDIT IS APPROVED BY THE ORGANIZATION'S AUDIT, COMPLIANCE AND RISK MANAGEMENT COMMITTEE. 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