2018-05-15T13:17:18-05:00 2017-06-30 611064249 DEMING MALONE LIVESAY & OSTROFF PSC 9300 SHELBYVILLE RD STE 1100 LOUISVILLE KY 402225187 990 2016-07-01 472373203 UNIVERSITY OF LOUISVILLE REAL ESTATE FOUNDATION INC UNIV 5028527300 215 CENTRAL AVE NO 212 LOUISVILLE KY 40208 KEITH SHERMAN INTERIM EXECUTIVE DIRECTOR & COO 5028527300 2018-05-14 1 CHRISTINE N KOENIG P01022180 5024269660 174.47.177.202 2018-05-14 12:14:06 ED P 71F8F865E24419133A5E56660547117E14899000 9A1CF9F3912B7549A3E439CD7EDF49DB90F185C1 2016 2021-01-29 14:40:06Z KEITH SHERMAN 215 CENTRAL AVE NO 212 LOUISVILLE KY 40208 8004876 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 6 16 0 -2972854 59011384 1696767 3456790 5028110 42502 197786 425136 553982 62935812 7476645 0 1200747 0 0 0 673083 0 0 0 5549378 8139048 5549378 10012878 57386434 -2536233 112276697 106116852 77161686 74221835 35115011 31895017 TO ACQUIRE, MAINTAIN, IMPROVE, LEVERAGE, MANAGE, LEASE, AND CONVEY REAL AND PERSONAL PROPERTY FOR THE BENEFIT OF THE UNIVERSITY OF LOUISVILLE. 0 0 8116769 1200747 5582092 THE REAL ESTATE ASSETS HELD BY THE FOUNDATION ARE USED BY, OR FOR THE BENEFIT OF, THE UNIVERSITY OF LOUISVILLE. 8116769 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 1 0 0 0 1 1 1 1 0 0 1 0 0 6 1 1 1 0 0 0 0 0 1 1 0 0 0 X 10 9 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 0 0 1 0 KY X KEITH SHERMAN 5028527300 215 CENTRAL AVE SUITE 212 LOUISVILLE KY 40208 MICHAEL BOWERS DIRECTOR 0.50 0.50 X 0 0 0 PAUL CARRICO DIRECTOR 0.50 0.50 X 0 0 0 STEVE GAULT SECRETARY 0.50 0.50 X X 0 0 0 DONNA HEITZMAN DIRECTOR 3.00 0.50 X 0 0 0 ROBERT KOETTER DIRECTOR 1.00 0.50 X 0 0 0 DERRICK LITTLEJOHN DIRECTOR 1.00 0.50 X 0 0 0 KEN PAYNE VICE CHAIR 4.00 0.50 X X 0 0 0 GREGORY C POSTEL DIRECTOR 0.50 0.50 X 0 927925 39577 EARL REED CHAIR 3.00 0.50 X X 0 0 0 SANDY METTS SNOWDEN TREASURER 0.50 0.50 X X 0 0 0 LAURENCE BENZ DIRECTOR (PREVIOUS) 1.00 0.00 X 0 0 0 SALEM GEORGE JR DIRECTOR (PREVIOUS) 2.00 0.00 X 0 0 0 AUDWIN HELTON SECRETARY (PREVIOUS) 1.00 0.00 X X 0 0 0 NEVILLE PINTO CHAIR (PREVIOUS) 0.50 0.50 X X 0 521839 36702 JAMES R RAMSEY CHAIR (PREVIOUS) 0.50 0.50 X X 0 720245 215671 DEBBIE SCOPPECHIO VICE CHAIR (PREVIOUS) 0.50 0.50 X X 0 0 0 RICHARD SWOPE DIRECTOR (PREVIOUS) 0.50 0.00 X 0 0 0 KEITH SHERMAN INTERIM EXECUTIVE DIRECTOR & COO 5.00 0.50 X 0 0 0 KATHLEEN SMITH ASST SECRETARY (PREVIOUS) 0.50 0.50 X 0 141440 27189 JASON TOMLINSON ASST TREASURER (PREVIOUS) 10.00 0.50 X 0 0 0 DAVID ADAMS CEO OF IPR (PREVIOUS) 40.00 0.00 X 435327 0 25024 435327 2311449 344163 1 0 1 0 EXTREME PROPERTY MANAGEMENT LLC 6300 POPLAR TREE CT LOUISVILLE KY 40228 PROPERTY MANAGEMENT 604756 STITES & HARBISON PLLC 400 W MARKET ST LOUISVILLE KY 40202 LEGAL SERVICES 182295 BEST MECHANICAL SERVICE LLC 4333 ROBARDS LANE LOUISVILLE KY 40218 MECHANICAL SERVICES 158518 STENGEL HILL ARCHITECTURE INC 613 W MAIN ST LOUISVILLE KY 40202 ARCHITECTURE SERVICES 140318 MESSER CONSTRUCTION CO 5188 FISHWICK DR CINCINNATI OH 45216 CONSTRUCTION SERVICES 121341 7 254176 1442591 269351 1696767 RENTAL INCOME 531390 5028110 5028110 5028110 300561 300561 425456 528231 -102775 -102775 -102775 GAIN - LLC INTEREST 900099 434577 434577 MISCELLANEOUS 900099 119405 119405 553982 7476645 5582092 0 197786 1200747 1200747 376642 376642 241183 241183 40500 16214 24286 14758 4289 10469 197334 197334 1287378 1287378 187300 187300 14731 14731 219244 219244 2028264 2028264 11263 11263 11113 11113 749488 749488 159352 159352 2368881 2368881 93513 93513 BAD DEBT 729821 729821 PROFESSIONAL DEVELOPMEN 40526 40526 BANK FEES 40480 40480 MISCELLANEOUS 360 360 10012878 8116769 1896109 0 402829 294134 453230 574118 14623511 204000 131784 158508 89873996 3754111 83996196 86119885 263867 5997205 9752683 10291598 2652597 2477404 112276697 106116852 4799470 5307333 1232085 1991502 185277 19531985 26499980 9803062 29490883 41035667 11506277 77161686 74221835 X 35115011 31895017 35115011 31895017 112276697 106116852 -2536233 -683761 0 X X 0 1 X 1 0 X X X 1 UNIVERSITY OF LOUISVILLE 611014882 6 1 0 1070846 1 0 1070846 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 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 $1,070,846. SCHEDULE A, PART IV, SECTION A, LINE 6 THE FOUNDATION PROVIDED SUPPORT TO THE ORGANIZATIONS LISTED ON SCHEDULE I OF THIS FORM 990. 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 52499835 52499835 32144964 3548858 28596106 5229197 205253 5023944 86119885 INVESTMENTS IN JOINT VENTURES 7811585 C INVESTMENT IN SUBSIDIARY 2480013 C 10291598 DUE TO RELATED PARTIES 1610693 DUE TO UNIVERSITY OF LOUISVILLE 9895584 11506277 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, 2017 AND 2016. 1 GREATER LOUISVILLE INC 614 WEST MAIN ST STE 6000 LOUISVILLE KY 40202 610434089 501(C)(6) 5000 GENERAL SUPPORT THRIVE CENTER INC 204 E MARKET ST LOUISVILLE KY 40202 813636925 501(C)(3) 124901 CAPITAL EXPENDITURES UNIVERSITY OF LOUISVILLE 2301 S 3RD ST LOUISVILLE KY 40208 611014882 501(C)(3) 1070846 FMV RENT-FREE OR REDUCED RENT USE OF PROPERTY SUPPORTED ORGANIZATION 2 1 PART I, LINE 2: A BUDGET IS ESTABLISHED AND AGREED UPON BEFORE THE PROJECT BEGINS. CASH GRANTS ARE GENERALLY GIVEN AS REIMBURSEMENTS FOR EXPENSES WHICH HAVE BEEN INCURRED FOR A PROJECT. THE FOUNDATION ALSO GRANTS RENT-FREE OR REDUCED RENT OF PROPERTIES TO THE UNIVERSITY OF LOUISVILLE. 0 0 0 0 0 0 0 0 0 GREGORY C POSTEL DIRECTOR 0 927925 0 0 0 0 0 29000 0 10577 0 967502 0 0 NEVILLE PINTO CHAIR (PREVIOUS) 0 521839 0 0 0 0 0 26125 0 10577 0 558541 0 0 JAMES R RAMSEY CHAIR (PREVIOUS) 0 720245 0 0 0 0 0 209501 0 6170 0 935916 0 0 KATHLEEN SMITH ASST SECRETARY (PREVIOUS) 0 141440 0 0 0 0 0 16716 0 10473 0 168629 0 0 DAVID ADAMS CEO OF IPR (PREVIOUS) 435327 0 0 0 0 0 13060 0 11964 0 460351 0 0 0 PART I, LINE 3 THE ORGANIZATION DOES NOT COMPENSATE ITS TOP MANAGEMENT OFFICIAL, THE INTERIM EXECUTIVE DIRECTOR & CHIEF OPERATING OFFICER. THE TOP MANAGEMENT OFFICIAL'S COMPENSATION TERMS WERE ESTABLISHED BY AN UNRELATED ORGANIZATION. X 1 269351 MARKET VALUE 1 0 0 1 PART I, LINE 32B: THE ORGANIZATION USES REAL ESTATE AGENTS TO SELL REAL PROPERTY. FORM 990, PART VI, SECTION B, LINE 11B THE RETURN IS FIRST REVIEWED BY UNIVERSITY OF LOUISVILLE FOUNDATION, INC. STAFF INCLUDING THE TAX MANAGER, DIRECTOR OF ACCOUNTING, SENIOR FINANCIAL CONSULTANT, AND INTERIM EXECUTIVE DIRECTOR & CHIEF OPERATING OFFICER. THE CHAIR OF THE ORGANIZATION'S AUDIT COMMITTEE THEN COMPLETES A REVIEW OF THE RETURN. THE FULL BOARD OF DIRECTORS RECEIVED THE RETURN PRIOR TO FILING AND WERE INVITED TO ATTEND 990 WORKSHOPS. THESE WORKSHOPS PROVIDED AN OPPORTUNITY FOR REVIEW OF THE 990, QUESTIONS, ANSWERS, AND EXPLANATIONS OF THE FORM. 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 HAVE SAID THE FOLLOWING AT THE BEGINNING OF MEETINGS SINCE SEPTEMBER 2017: AS CHAIR IT IS MY RESPONSIBLY 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 INTERIM EXECUTIVE DIRECTOR & CHIEF OPERATING OFFICER. THE INTERIM EXECUTIVE DIRECTOR & CHIEF OPERATING OFFICER IS COMPENSATED BY AN UNRELATED ORGANIZATION. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES THESE DOCUMENTS AVAILABLE UPON REQUEST. FORM 990, PART VI, SECTION B, LINES 13 AND 14 THE ORGANIZATION UTILIZES THE UNIVERSITY OF LOUISVILLE FOUNDATION, INC.'S WHISTLEBLOWER AND DOCUMENT RETENTION AND DESTRUCTION POLICIES. 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 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 COMMITTEE. 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