2017-05-15T15:03:38-05:00 2016-06-30 350921680 CROWE HORWATH LLP 9600 Brownsboro Road Suite 400 Louisville KY 402411122 990 2015-07-01 472373203 University of Louisville Real Estate Foundation Inc UNIV 5028525406 215 Central Ave Suite 304 Louisville KY 40208 Jason Tomlinson CFO & Assistant Treasurer 2017-05-11 true RACHEL SPURLOCK P00520729 5023263996 2015 2021-01-29 14:40:06Z Jason Tomlinson 215 Central Ave Louisville KY 40208 62935812 false X NA X 2014 KY TO ACQUIRE, MAINTAIN, IMPROVE, LEVERAGE, MANAGE, LEASE, AND CONVEY REAL AND PERSONAL PROPERTY FOR THE BENEFIT OF THE UNIVERSITY OF LOUISVILLE. 9 8 0 8 0 0 7045648 59011384 3456790 42502 425136 7045648 62935812 0 0 0 0 0 89635 5549378 89635 5549378 6956013 57386434 3461376 112276697 110032 77161686 3351344 35115011 TO ACQUIRE, MAINTAIN, IMPROVE, LEVERAGE, MANAGE, LEASE, AND CONVEY REAL AND PERSONAL PROPERTY FOR THE BENEFIT OF THE UNIVERSITY OF LOUISVILLE. false false 5115247 3881926 THE UNIVERSITY OF LOUISVILLE REAL ESTATE FOUNDATION CONTINUED TO ACQUIRE, MAINTAIN, IMPROVE, LEVERAGE, MANAGE, LEASE, AND CONVEY REAL AND PERSONAL PROPERTY FOR THE BENEFIT OF THE UNIVERSITY OF LOUISVILLE. 5115247 true true false false false false false false false false true true false false true false false true false false false false false false false false false false false false false false false false false false false false true false false false true true false false false true 0 0 0 false false false false false false false false false false X 9 8 false false false false false false false true true false false true true true true true true false false true false KY X Jason Tomlinson 5028525406 215 Central Ave Suite 304 Louisville KY 40208 X Dr James R Ramsey President/CEO 9.0 1.0 X X 0 0 0 Frank Weisberg Chairman 0.5 0 X X 0 0 0 Debbie Scoppechio Vice Chair 0.5 0 X X 0 0 0 Sandy Metts Snowden Treasurer 0.5 0.5 X X 0 0 0 Audwin Helton SECRETARY 0.5 0 X X 0 0 0 Charles Denny DIRECTOR 0.5 0 X 0 0 0 Robert Koetter Director 0.5 0 X 0 0 0 Dick Swope Director 0.5 0 X 0 0 0 Dr Salem George Jr Director 0.5 0 X 0 0 0 Kathleen M Smith Assistant Secretary 5.0 1.0 X 0 0 0 JASON Tomlinson CFO/Assistant Treasurer 15.0 10.0 X 0 0 0 0 0 0 0 false false false 0 60973 58950411 58950411 59011384 RENTAL INCOME 531390 3456790 3456790 0 0 0 0 3456790 42502 42502 0 0 0 0 MISCELLANEOUS 900099 425136 425136 0 0 0 0 425136 62935812 3881926 0 42502 X 208283 208283 59815 59815 1170827 1102473 68354 0 14629 14629 97679 97679 1410958 1410958 9585 9585 963 963 390451 390451 1701358 1701358 54858 54858 BAD DEBT ALLOWANCE 392908 392908 PROFESSIONAL DEVELOPMENT 37064 37064 0 0 0 0 5549378 5115247 434131 0 2481276 402829 453230 0 0 14623511 131784 85581286 1585090 83996196 263867 980100 9752683 0 2652597 0 0 3461376 112276697 110032 4799470 1991502 19531985 9803062 0 41035667 110032 77161686 X 3351344 35115011 3351344 35115011 3461376 112276697 X 57386434 -581343 -840085 -24201339 X false true X true false X X X 1 UNIVERSITY OF LOUISVILLE 611014882 6 true 0 840085 1 0 840085 true false false false false false false false false false false false false false false true true false X Schedule A, Part I, Line 11g(vi) OTHER SUPPORT UNIVERSITY OF LOUISVILLE REAL ESTATE FOUNDATION (ULREF) ALLOWS UNIVERSITY OF LOUISVILLE (U OF L)TO USE CERTAIN OF ITS PROPERTIES ON A RENT-FREE OR REDUCED RENT BASIS. ULREF HAS DETERMINED THAT THE FAIR VALUE OF THOSE RENTS WAS APPROXIMATELY $840,000. Schedule A, Part IV, Section E, Line 1c The Organization Supported A Government Entity Explanation ULREF ACQUIRED, MAINTAINED, IMPROVED, LEVERAGED, MANAGED, LEASED, AND CONVEYED REAL AND PERSONAL PROPERTY FOR THE BENEFIT OF U OF L. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 50482663 50482663 31896656 1434822 30461834 3201967 150268 3051699 83996196 INVESTMENTS IN JOINT VENTURES 7214070 C INVESTMENT IN SUB 2538613 C 9752683 DUE TO RELATED PARTIES 41035667 41035667 X 18 31435737 Market value X LLC & PARTNERSHIP MEMBERSHIP INTERESTS 5 27514674 Market value 0 false false false Schedule M, Part I Explanations of reporting method for number of contributions Real estate - Commercial - Number of items received. Other - LLC & PARTNERSHIP MEMBERSHIP INTERESTS NUMBER OF ITEMS RECEIVED. Form 990, Part VI, Line 15 COMPENSATION DETERMINATION OFFICERS ARE NOT PAID THROUGH THIS ORGANIZATION. THEREFORE 15A AND 15B HAVE BEEN MARKED NO IN ACCORDANCE WITH THE 990 INSTRUCTIONS. Form 990, Part VI, Line 12a CONFLICT OF INTEREST POLICY THE ORGANIZATION FOLLOWS THE POLICIES AND PROCEDURES PUT IN PLACE BY THE UNIVERSITY OF LOUISVILLE FOUNDATION. Form 990, Part VI, Line 13 WHISTLEBLOWER POLICY THE ORGANIZATION FOLLOWS THE POLICIES AND PROCEDURES PUT IN PLACE BY THE UNIVERSITY OF LOUISVILLE FOUNDATION. Form 990, Part VI, Line 14 DOCUMENT RETENTION AND DESTRUCTION POLICY THE ORGANIZATION FOLLOWS THE POLICIES AND PROCEDURES PUT IN PLACE BY THE UNIVERSITY OF LOUISVILLE FOUNDATION. Form 990, Part VI, Line 1a Delegate broad authority to a committee THE EXECUTIVE COMMITTEE CONSISTS OF FIVE INDIVIDUALS ALL OF WHOM ARE DIRECTORS OF ULREF. THE EXECUTIVE COMMITTEE SHALL HAVE AND MAY EXERCISE ALL OF THE AUTHORITY OF THE BOARD, BUT SHALL NOT HAVE THE AUTHORITY OF THE BOARD IN REFERENCE TO AMENDING, ALTERING, OR REPEALING ORGANIZATION'S BY-LAWS; ELECTING, ALTERING OR REMOVING ANY MEMBER OF THE EXECUTIVE COMMITTEE OR ANY DIRECTOR OR OFFICER OF THE ORGANIZATION; AMENDING OR RESTATING THE ARTICLES OF INCORPORATION; ADOPTING A PLAN OF MERGER, OR ADOPTING A PLAN OF CONSOLIDATION, WITH ANOTHER CORPORATION; AUTHORIZING THE SALE, LEASE, EXCHANGE OR MORTGAGE OF SUBSTANTIALLY ALL OF THE PROPERTY AND ASSETS OF THE ORGANIZATION; AUTHORIZING THE VOLUNTARY DISSOLUTION OF THE ORGANIZATION, OR REVOKING PROCEEDINGS THEREFOR; ADOPTING A PLAN FOR THE DISTRIBUTION OF THE ASSETS OF THE ORGANIZATION OR AMENDING, ALTERING, OR REPEALING ANY RESOLUTION OF THE BOARD WHICH BY ITS TERMS PROVIDES THAT IT SHALL NOT BE AMENDED, ALTERED OR REPEALED BY THE EXECUTIVE COMMITTEE; OR DOING ANY OTHER ACT FORBIDDEN BY LAW OR BY THE ARTICLES OF INCORPORATION. Form 990, Part VI, Line 11b Review of form 990 by governing body ULREF FINANCE PERSONNEL AND AN OUTSIDE FIRM PREPARED THE RETURN. A COPY OF THE RETURN WAS PROVIDED TO THE BOARD OF DIRECTORS FOR REVIEW PRIOR TO FILING. Form 990, Part VI, Line 12c Conflict of interest policy 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. Form 990, Part VI, Line 19 Required documents available to the public THE ORGANIZATION MAKES THESE DOCUMENTS AVAILABLE UPON REQUEST. Form 990, Part IX, Line 11g Other Fees CONSULTING - Total Expense: 255973, Program Service Expense: 187619, Management and General Expenses: 68354, Fundraising Expenses: ; PROPERTY MANAGEMENT - Total Expense: 914854, Program Service Expense: 914854, Management and General Expenses: , Fundraising Expenses: ; Form 990, Part XI, Line 9 Other changes in net assets or fund balances GOODWILL IMPAIRMENT LOSS - -24201339; INSTITUTE FOR PRODUCT REALIZATION LLC 215 CENTRAL AVENUE SUITE 304 LOUISVILLE KY 40208 474067136 REAL ESTATE KY -516324 0 UNIVERSITY OF LOUISVILLE REAL ESTATE FOUNDATION INC AAF-LOUISVILLE LLC DBA CARDINAL STATION LLC 215 CENTRAL AVENUE SUITE 304 LOUISVILLE KY 40208 263061274 REAL ESTATE KY 46699 11141455 UNIVERSITY OF LOUISVILLE REAL ESTATE FOUNDATION INC PHOENIX PLACE-LOUISVILLE LLC 215 CENTRAL AVENUE SUITE 304 LOUISVILLE KY 40208 270264868 REAL ESTATE KY 379094 4784160 UNIVERSITY OF LOUISVILLE REAL ESTATE FOUNDATION INC NUCLEUS KENTUCKY'S LIFE SCIENCES AND INNOVATION CENTER LLC 215 CENTRAL AVENUE SUITE 304 LOUISVILLE KY 40208 263416972 REAL ESTATE KY -4668821 18232876 UNIVERSITY OF LOUISVILLE REAL ESTATE FOUNDATION INC KYT-LOUISVILLE LLC 215 CENTRAL AVENUE SUITE 304 LOUISVILLE KY 40208 264771802 REAL ESTATE KY 0 16040949 UNIVERSITY OF LOUISVILLE REAL ESTATE FOUNDATION INC LOUISVILLE MEDICAL CENTER DEVELOPMENT CORPORATION 215 CENTRAL AVENUE SUITE 304 LOUISVILLE KY 40208 611320759 MEDICAL DEVELOPMENT FINANCING KY 501(c)(3 7 UNIVERSITY OF LOUISVILLE REAL ESTATE FOUNDATION INC true UNIVERSTIY OF LOUISVILLE 2301 S 3RD ST LOUISVILLE KY 40208 611014882 EDUCATION KY 501(c)(1 NA false CAMPUS THREE LLC 600 N HURSTBOURNE PKWY SUITE 300 LOUISVILLE KY 40222 455325240 REAL ESTATE KY UNIVERSITY OF LOUISVILLE REAL ESTATE FOUNDATION INC Related -1676 8235465 false true 0.51 220 SOUTH PRESTON LLC 600 N HURSTBOURNE PKWY SUITE 300 LOUISVILLE KY 40222 472248637 REAL ESTATE KY UNIVERSITY OF LOUISVILLE REAL ESTATE FOUNDATION INC Related 107113 false 11457116 true 0.8 CAMPUS TWO LLC 600 N HURSTBOURNE PKWY SUITE 300 LOUISVILLE KY 40222 455319715 REAL ESTATE KY UNIVERSITY OF LOUISVILLE REAL ESTATE FOUNDATION INC Related -28721 11369329 false true 0.51 false false true true true false false false false false false false false false false false false false false