2016-05-16T17:07:38-05:00 2015-06-30 350921680 CROWE HORWATH LLP 9600 Brownsboro Road Suite 400 Louisville KY 402411122 990 2014-07-01 237078461 University of Louisville Foundation Inc UNIV 5028527072 215 Central Avenue Louisville KY 40208 Jason Tomlinson CFO & Assistant Treasurer 2016-05-13 true Rachel Spurlock P00520729 5023263996 2014 2016-08-17 19:52:53Z Dr James R Ramsey 215 Central Avenue Louisville KY 40208 184663434 false X www.louisvillefoundation.org X 1970 KY The University of Louisville Foundation (Foundation) exists to support the academic, scholarly, research and community engagement activities of the University of Louisville (University) and to assist the University in becoming a national top tier metropolitan research university. Since its inception in 1970, the Foundation has supported the efforts of the University to attract outstanding students and to bring the world's top scholars and scientists to Kentucky. Investment in the University is increasingly critical as state support for higher education continues to decline. Although state budget cuts are challenging, the University remains a leader among colleges and universities in Kentucky. 16 15 7 16 2621463 -1496981 50246147 49350665 0 0 37753120 19944131 -3313699 -2753899 84685568 66540897 10658412 11290707 0 0 4523072 6950171 0 0 11406214 93419121 86092931 108600605 104333809 -23915037 -37792912 1053975329 981693037 160414518 145885242 893560811 835807795 The Foundation is organized and operated for the benefit of the University. It serves as a fundraising organization and provides economic impact on the Commonwealth of Kentucky through development of new businesses and the creation of new jobs. Funds are invested and managed by the Foundation in support of the University's mission to become a premier metropolitan research university recognized for advancing the intellectual, social and economic development of our community and its citizens while placing the University among the top tier of similar universities in the nation. false false 50431631 6890587 331652 EDUCATIONAL EXCELLENCE WITH THE SUPPORT OF THE FOUNDATION, THE UNIVERSITY AIMS TO ATTRACT THE BEST AND BRIGHTEST MINDS. AS OF JUNE 2015, STUDENTS HAVE WON 89 FULBRIGHT SCHOLARSHIPS AND 12 HAVE BEEN TRUMAN SCHOLARS. THE AVERAGE ACT OF FIRST-TIME, FULL-TIME, BACCALAUREATE DEGREE-SEEKING STUDENTS ENTERING FALL 2015 WAS 25.5. THE SIX-YEAR GRADUATION RATE FOR FIRST-TIME, FULL-TIME, BACCALAUREATE DEGREE-SEEKING STUDENTS ENTERING FALL 2009 WAS 52.9%. 24476421 805000 39707 RESEARCH, SCHOLARSHIP AND CREATIVE ACTIVITY THE UNIVERSITY, WITH THE HELP OF THE FOUNDATION, IS FOCUSED ON ENSURING THAT THE GREAT IDEAS THAT BEGIN IN THE LABORATORY AND THE CLASSROOM BECOME TANGIBLE BENEFITS FOR PEOPLE. THE DRIVING GOALS BEHIND THESE STEPS ARE TO: 1. INCREASE FUNDED RESEARCH; 2. INCREASE OUR TRANSLATIONAL RESEARCH IN RESPONSE TO COMMUNITY NEEDS AND FUEL ECONOMIC DEVELOPMENT; 3. FOCUS ON AREAS OF SCHOLARLY AND CREATIVE ACTIVITY THAT CREATE NATIONAL PROMINENCE; AND 4. EXPAND CLINICAL OPERATIONS TO BETTER SERVE KENTUCKY. THE FOUNDATION IS FINANCING AND DEVELOPING THREE RESEARCH PARKS, ONE AT EACH OF THE UNIVERSITY'S CAMPUSES - BELKNAP CAMPUS, HEALTH SCIENCES CENTER CAMPUS, AND SHELBY CAMPUS. EACH OF THESE PARKS IS BEING DESIGNED TO FURTHER THE UNIVERSITY'S RESEARCH MISSION, PROVIDE ADDITIONAL REVENUE STREAMS AND PROMOTE ECONOMIC DEVELOPMENT IN THE LOUISVILLE AREA. 1. NUCLEUS INNOVATION PARK: THIS RESEARCH AND INNOVATION PARK INCLUDES THE TECHCENTER, THE NUCLEUS, AND THE IHUB. ONCE COMPLETED IT IS PROJECTED TO CREATE 8,700 JOBS. THE TECHCENTER OFFERS LABORATORY SPACE, BOTH WET AND DRY, AND OFFICE SPACE. A SHARED LABORATORY FACILITY EQUIPPED WITH COMMON LABORATORY EQUIPMENT IS AVAILABLE FOR EARLY STAGE COMPANIES REQUIRING LABORATORY SPACE. THE NUCLEUS IS AN EIGHT STORY, 200,000 SQUARE FOOT BUILDING WITH A GREEN ROOF AND OPEN SPACES. IT WILL HOUSE THE INTERNATIONAL CENTER FOR LONG TERM CARE INNOVATION WHICH SERVES AS A CATALYST FOR THE UNIVERSITY'S WORLDWIDE AGING CARE RESEARCH INITIATIVE. OTHER TENANTS INCLUDE ATRIA SENIOR LIVING, UNIVERSITY'S EXECUTIVE VICE PRESIDENT FOR RESEARCH AND INNOVATION RESEARCH OFFICE, ACCELERATORS FOR START-UP COMPANIES AND THE ADMINISTRATION FOR THE UNIVERSITY'S MEDICAL FACULTY. THE IHUB, OUR CO-WORKING SPACE FOR VERY EARLY STAGE COMPANIES, CONTINUES TO BE WELL USED. UNIVERSITY ASSOCIATED STARTUPS AND EARLY STAGE COMPANIES ARE LOCATED IN THE TECHCENTER, THE IHUB AND THE NUCLEUS. 2. SHELBYHURST: THIS RESEARCH AND OFFICE PARK IS LOCATED ON UNIVERSITY'S SHELBY CAMPUS IN EASTERN JEFFERSON COUNTY. SHELBYHURST FEATURES THE 38,000 SQ. FT. CENTER FOR PREDICTIVE MEDICINE, A NATIONAL INSTITUTES OF HEALTH FUNDED BIOSAFETY LAB FOCUSING ON RESEARCH OF INFECTIOUS DISEASES. THROUGH A PARTNERSHIP WITH REAL ESTATE DEVELOPMENT FIRM NTS, THE FOUNDATION HELPED CONSTRUCT THE FIRST LEED CERTIFIED CLASS A OFFICE BUILDING AT SHELBYHURST. THE FACILITY, KNOWN AS 600 NORTH, IS THE FIRST BUILDING OF ITS TYPE IN KENTUCKY AND DESPITE THE CHALLENGING ECONOMIC CLIMATE HAS ACHIEVED 100% OCCUPANCY LEADING TO CONSTRUCTION OF A SECOND, SIMILAR BUILDING NEARBY. FUTURE PLANS INCLUDE A HOTEL AND CONFERENCE FOR HOSTING RESEARCHERS AND FACULTY FROM ACROSS THE GLOBE. 3. BELKNAP ENGINEERING AND APPLIED SCIENCES RESEARCH PARK: THIS 39 ACRE RESEARCH PARK IS BEING DEVELOPED AS THE CENTERPIECE FOR RESEARCH AND COLLABORATION AT UNIVERSITY'S BELKNAP CAMPUS. THE DEVELOPMENT IS THE CENTERPIECE OF A SIGNATURE TAX INCREMENT FINANCING (TIF) DISTRICT, DESIGNED TO STIMULATE ECONOMIC GROWTH IN THE AREA. THE TIF DISTRICT COVERS MORE THAN 900 ACRES AND WAS GIVEN APPROVAL BY THE KENTUCKY ECONOMIC DEVELOPMENT FINANCE AUTHORITY, PAVING THE WAY FOR WHAT COULD BE AN ESTIMATED $1 BILLION IN GROWTH OVER 30 YEARS. THE PROJECT INCLUDES A $31 MILLION ROAD IMPROVEMENT PROJECT THAT WAS JUMPSTARTED BY THE FOUNDATION WITH A $6.2 MILLION COMMITMENT. BUILDING ON RESOURCES AT THE INSTITUTION'S J. B. SPEED SCHOOL OF ENGINEERING, A MAJOR FOCUS OF THE RESEARCH PARK WILL BE TO BRING COMPANIES AND ENGINEERING EXPERTS TOGETHER. THE UNIVERSITY ALSO ENVISIONS RESEARCH, SUPPORT FACILITIES AND STAFF TO HELP UNIVERSITY'S FACULTY COMMERCIALIZE THEIR IDEAS AND INVENTIONS. 3054403 3595120 COMMUNITY ENGAGEMENT AND RESPONSIBLE STEWARDSHIP THE UNIVERSITY'S STRATEGIC PLAN, "THE 2020 PLAN: MAKING IT HAPPEN," DESCRIBES THE UNIVERSITY'S COMMITMENT TO COMMUNITY ENGAGEMENT AND REINFORCES THE CONCEPT OF A "CITIZEN UNIVERSITY." FUTURE GROWTH OF INITIATIVES IN THE SIGNATURE PARTNERSHIP, IDEAS TO ACTION (I2A), STUDENT AFFAIRS AND IN EACH ACADEMIC UNIT WILL RESULT IN SIGNIFICANT INCREASES IN OUR COMMUNITY SERVICE PROJECTS AND COMMUNITY-BASED INSTRUCTIONAL AND RESEARCH EFFORTS. THE UNIVERSITY HAS BEEN REPEATEDLY RECOGNIZED FOR VOLUNTEERISM, VETERAN-FRIENDLY PROGRAMS, LEADERSHIP IN SUSTAINABILITY, AND AS A "GOOD NEIGHBOR" FOR THE COMMUNITY. THE UNIVERSITY PLEDGES TO BE A MODEL METROPOLITAN UNIVERSITY, INTEGRATING ACADEMIC EXCELLENCE, RESEARCH STRENGTH AND CIVIC ENGAGEMENT. TO FULFILL THIS OBLIGATION THE UNIVERSITY IS ENGAGING IN THE FOLLOWING: 1. CREATING AN IMPROVED NEIGHBORHOOD BY JOINING INNOVATIVE PARTNERSHIPS TO DEVELOP THE CAMPUS AREA THROUGH GROWTH IN BUSINESS AND HOUSING FOR STUDENTS, FACULTY, AND STAFF. CREATING A LIVELY CAMPUS THAT ENCOURAGES CO-CURRICULAR ACTIVITIES AND CAMPUS INVOLVEMENT. EXPANDING HEALTH SERVICES FOR STUDENTS, FACULTY, AND STAFF; 2. EXPANDING CLINICAL ENTERPRISES TO BETTER SERVE OUR COMMUNITY; 3. STRENGTHENING OUR COMMUNITY ENGAGEMENT IN THE VISUAL AND PERFORMING ARTS, LITERARY ARTS, HUMANITIES, HISTORIC PRESERVATION, LIBRARIES AND MUSEUMS, ESPECIALLY IN LOUISVILLE'S CORE AREA; 4. KEEPING COMMITMENTS TO WEST LOUISVILLE BY IMPLEMENTING AND SUSTAINING THE SIGNATURE PARTNERSHIP PROGRAM, FOCUSING ON ELIMINATING OR REDUCING DISPARITIES IN THE EDUCATIONAL, HEALTH, ECONOMIC AND SOCIAL CONDITION OF COMMUNITY RESIDENTS AND; 5. ENACTING OUR STATEWIDE MISSION IN FOCUSED AREAS APPROPRIATE FOR A METROPOLITAN UNIVERSITY BY PARTNERING IN THE CREATION OF A CITY SOLUTION CENTER, EXPANDING OUR STATEWIDE OUTREACH THROUGH CLINICAL AND TRANSLATIONAL ACTIVITIES AND SELECTING EDUCATION PROGRAMS, AND ACHIEVING INDICATORS FOR CARNEGIE CLASSIFICATION FOR COMMUNITY ENGAGEMENT. 933324 DIVERSITY, OPPORTUNITY AND SOCIAL JUSTICE THE UNIVERSITY HAS MADE MEANINGFUL PROGRESS IN RECENT YEARS BY FOCUSING ON: 1. EXPANDING THE CARDINAL COVENANT PROGRAM, WHICH GUARANTEES FUNDING TO KENTUCKY'S POOREST STUDENTS WITH A GOAL OF REACHING $3.1 MILLION BY 2020; 2. INCREASING NEED-BASED AND TRANSFER AID; 3. INCORPORATING PRINCIPLES OF CULTURAL DIVERSITY, GLOBAL AWARENESS, AND SOCIAL JUSTICE INTO EDUCATIONAL CURRICULA, RESEARCH AND SCHOLARSHIP PROGRAMS AND PROGRAMS IN CIVIC ENGAGEMENT; 4. REVAMPING THE UNIVERSITY'S INTERNATIONAL CENTER TO LEAD INTERNATIONAL EDUCATIONAL AND RESEARCH INITIATIVES AND PROVIDE A WELCOMING PLACE FOR INTERNATIONAL STUDENTS AND; 5. INCREASE FACULTY AND STUDENT PARTICIPATION IN INTERNATIONAL EXPERIENCES AND PROJECT 933324 78895779 true true false true false false false true true true true true false true true true false true false false true false true false true false false true true true false false false false false false false false true true false false true true true true true false true 415 0 true 7 true true true false false false false false false false false false X 16 15 false false false false false false false true true false false true true true true true true true false true true KY X X Jason Tomlinson 5028526166 215 Central Avenue Suite 304 Louisville KY 40208 SEE SCHEDULE O FOR ADDITIONAL INFORMATION ON COMPENSATION 0 X X X X X 0 0 0 Dr James R Ramsey President 25.00 15.00 X X 2428886 0 362500 Robert Curtis Hughes MD CHAIR (AS OF 1/30/15) 0.50 1.50 X X 0 0 0 Debbie Scoppechio CHAIR (RESIGNED 11/30/14) 0.50 1.50 X X 0 0 0 Joyce Hagen Vice Chair 0.50 1.50 X X 0 0 0 Ulysses L Bridgeman Jr Treasurer 0.50 2.00 X X 0 0 0 Frank Weisberg Secretary 0.50 1.50 X X 0 0 0 Dr William Selvidge Director 0.50 0.50 X 0 0 0 Jonathan Blue Director 0.50 0.50 X 0 0 0 Laurence Benz Director 0.50 0.50 X 0 0 0 Rebecca Jackson Director 0.50 0.50 X 0 0 0 Frank Minnifield Director 0.50 0.50 X 0 0 0 Brucie Moore JD Director 0.50 0.50 X 0 0 0 Charles Denny Director 0.50 0.50 X 0 0 0 Dr Salem George Director 0.50 0.50 X 0 0 0 Margaret Handmaker Director 0.50 0.50 X 0 0 0 Joseph W Prather II MD Director 0.50 0.50 X 0 0 0 Dr Mark Lynn Director 0.50 0.50 X 0 0 0 Shirley C Willihnganz PhD Executive Vice President 15.00 10.00 X 1130410 0 0 Kathleen M Smith Assistant Secretary 15.00 19.00 X 675848 0 183333 Richard J Tomlinson CFO and Assistant Treasurer 26.00 39.00 X 192052 40362 0 Thomas M Jurich Athletic Director (ULAA) 10.00 0.50 X 255917 0 0 Vickie Yates Brown Glisson President/CEO - Nucleus 49.00 1.00 X 334184 0 0 Ronald Kevin Miller Exec. Senior Assoc. Athletic Director (ULAA) 20.00 0.50 X 139133 0 0 Dr Donald M Miller Director, James Graham Brown Cancer Center 40.00 0 X 1789552 0 0 Michael J Curtin (Former) Assistant Treasurer (to 8/31/2013) 0 X 232028 0 0 7178010 40362 545833 9 true true false MESSER CONSTRUCTION CO 11001 PLANTSIDE DRIVE LOUISVILLE KY 40299 CONSTRUCTION 3086567 CAMBRIDGE ASSOCIATES LLC 125 HIGH STREET BOSTON MA 02116 INVESTMENT MANAGEMENT 1664775 TDI INTERNATIONAL INC 415 NW FLAGLER AVE 302 STUART FL 34994 GOLF COURSE RESTORATION 1597489 POWER GRAPHICS INC 11701 COMMONWEALTH DRIVE LOUISVILLE KY 40299 MARKETING 1102092 EXTREME PROPERTY MANAGEMENT LLC PO BOX 462 MISHAWAKA IN 46546 PROPERTY MANAGEMENT 1041317 415 X 247202 6114039 42989424 3039802 49350665 0 0 0 0 0 13329886 591410 12738476 21359 21359 3430073 8575708 -5145635 0 -5145635 -5145635 116057937 0 109177563 266129 6880374 -266129 6614245 6614245 72102 247202 103137 -31035 -31035 PROFESSIONAL FEES AND SERVICES 611710 152870 152870 ADMINISTRATIVE FEES 561110 173154 173154 GOLF COURSE 900099 2030053 2030053 45335 45335 0 0 2401412 66540897 371359 2621463 14197410 X 3595120 3595120 7585587 7585587 110000 110000 6945982 6945982 4189 4189 313672 226957 86715 59442 10456 48986 1597348 1597348 62912550 47357777 5012529 10542244 3097983 2537258 548859 11866 1049729 701126 181423 167180 686655 477954 208701 3513572 3214814 298758 424335 332661 91674 325470 325470 4902686 4902686 4731814 4731814 132507 132507 Fees 580106 550766 29340 Small Equipment 419718 419718 Instructional and Training 191258 154775 36483 1154086 59303 446342 648441 104333809 78895779 14031816 11406214 4130 4076 9788259 20140328 33417980 33913077 1965319 2662359 0 0 0 31776912 31879733 197402 127820 419378 248957 134461065 28299870 116349449 106161195 148337609 118795933 641770748 595346875 0 69948143 72412684 1053975329 981693037 5863351 4643115 7509013 7034392 44791812 37657073 0 61756555 63930940 0 40493787 32619722 160414518 145885242 X 327416811 244669460 140145169 147607623 425998831 443530712 893560811 835807795 1053975329 981693037 X -37792912 -19161379 -798725 X false true X true false X 39727598 55949088 39479546 50246147 49350665 234753044 39727598 55949088 39479546 50246147 49350665 234753044 19756609 214996435 9255259 12425364 9994902 14950064 16781318 63406907 0 0 0 0 0 0 0 0 0 0 0 0 298159951 1983604 0.7211 0.7471 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false true false false false false true 115500 false false 115500 false Schedule C, Part II-B, Line 1 DETAILED DESCRIPTION OF THE LOBBYING ACTIVITY THE ORGANIZATION EMPLOYED OUTSIDE LOBBYISTS TO MEET WITH LEGISLATORS AND POLICY MAKERS AS WELL AS ENLISTING PUBLIC SUPPORT FOR THE UNIVERSITY'S POSITION ON VARIOUS ISSUES. 1835115 4373068 0 0 X X false false 0 0 0 0 true X 818284478 19926930 -18366293 7587144 31792235 9614570 770851166 734532070 13126927 118951849 7867804 31670304 8788260 818284478 692465964 14975035 67557303 7966865 23280375 9218992 734532070 739226249 12102614 -22742518 6729819 21996263 7394299 692465964 644498300 13677690 70964906 6222255 -21353653 5046045 739226249 0.2552 0.738 0.0068 true false 43269028 43269028 47965751 9125035 38840716 17586399 11993164 5593235 25639887 7181671 18458216 106161195 Marketable Alternatives 133416198 F Miscellaneous Investments 1383732 C Equity Method Investments 3025617 C Investment in Partnerships 457521328 F 595346875 Other Assets 1343924 Intercompany Receivables 19123808 Funds Held by Others 51944952 72412684 Due to University of Louisville 19535850 Deferred Compensation 9037819 Annuities and Trusts Payable 4128966 Other Long-term Liabilities -50148 Deposits -32765 32619722 X Schedule D, Part III, Line 4 Collections of art - description of collections Historical collections include rare materials, sculptures and other pieces of art and rare books. Schedule D, Part IV, Line 2b Explanation of escrow agreement The Foundation is the custodian of funds owned by the University of Louisville Athletics Association (the 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 based on a formal trust agreement. As of June 30, 2015, the Foundation held approximately $30.6 million for the Association's investment purposes. During the year ended June 30, 2005, the Foundation entered into an agreement with 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 healthcare services. As of June 30, 2015, the Foundation held approximately $9.8 million for Jewish Hospital's investment purposes. During the year ended June 30, 2011, 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, 2015, the Foundation held approximately $0.2 million 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. Schedule D, Part V, Line 4 Intended uses of endowment funds The intended use of the University of Louisville Foundation Inc's endowments fall into 8 categories: Instruction, Research, Public Service, Academic Support, Student Services, Institutional Support, Maintenance and Operation of Physical Plant, and Student Financial Aid. The greatest amount of funds provided for spending are for Research and Student Financial Aid. Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote THE FOUNDATION HAS RECEIVED A FAVORABLE DETERMINATION LETTER FROM THE INTERNAL REVENUE SERVICE EXEMPTING IT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND A SIMILAR PROVISION OF STATE LAW. THE FOUNDATION IS SUBJECT TO FEDERAL INCOME TAX ON ANY UNRELATED BUSINESS TAXABLE INCOME. THE FOUNDATION FILES TAX RETURNS IN THE US FEDERAL JURISDICTION. WITH A FEW EXCEPTIONS, THE FOUNDATION IS NO LONGER SUBJECT TO US FEDERAL EXAMINATION BY TAX AUTHORITIES PRIOR TO FISCAL YEAR 2012. Central America and the Caribbean 0 0 Investments 138648862 Europe (Including Iceland and Greenland) 0 0 Investments 3343375 0 0 0 0 0 0 141992237 0 141992237 GRAWEMEYER AWARDS North America (Canada & Mexico only) 1 50000 WIRE TRANSFER 0 GRAWEMEYER AWARDS Europe (Including Iceland and Greenland) 3 60000 WIRE TRANSFER 0 true false true true true false HATS FOR HOPE 107420 64746 42674 7977 63100 RAISE RED 211884 182456 29428 32060 0 319304 247202 72102 7977 95160 103137 -31035 true UNIVERSITY OF LOUISVILLE REAL ESTATE FOUNDATION INC 215 CENTRAL AVENUE SUITE 304 LOUISVILLE KY 40208 472373203 501(C)(3) 424431 3170689 FMV LAND GENERAL SUPPORT 1 GRAWEMEYER AWARDS 20 670000 SCHOLARSHIPS 1505 6890587 GUGGENHEIN AWARD 1 25000 Schedule I, Part I, Line 2 Description Of Procedure For Monitoring Use Of Grant Funds The organization 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 in satisfaction of donor restrictions. These transfers occur via the organization's cost sharing policy. Costs can originate with the funding of salaries, research grants, scholarships, etc. It is the responsibility of the organization to verify that the cost share expense is allowable by the endowment or gift program and that such endowment or gift program has sufficient funds to cover the transfer. Sponsored Programs is the area responsible for monitoring the use of grant funds and all government reporting. The Grawemeyer Awards are among the world's most prestigious awards presented to individuals in the fields of education, ideas improving world order, music composition, religion and psychology. H. Charles Grawemeyer created the awards in 1984 with an initial endowment of $9 million and since then it has drawn thousands of nominations from around the world. Grawemeyer distinguished the awards by honoring ideas rather than life-long achievements. Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. The organization 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 in satisfaction of donor restrictions. These transfers occur via the organization's cost sharing policy. Costs can originate with the funding of salaries, research grants, scholarships, etc. It is the responsibility of the organization to verify that the cost share expense is allowable by the endowment or gift program and that such endowment or gift program has sufficient funds to cover the transfer. Sponsored Programs is the area responsible for monitoring the use of grant funds and all government reporting. The Grawemeyer Awards are among the world's most prestigious awards presented to individuals in the fields of education, ideas improving world order, music composition, religion and psychology. H. Charles Grawemeyer created the awards in 1984 with an initial endowment of $9 million and since then it has drawn thousands of nominations from around the world. Grawemeyer distinguished the awards by honoring ideas rather than life-long achievements. X X true true X X X false true false false false false false false false Dr James R Ramsey President 290121 0 0 0 2138765 0 362500 0 0 0 2791386 0 0 0 Michael J Curtin (Former) Assistant Treasurer (to 8/31/2013) 0 0 0 0 232028 0 0 0 0 0 232028 0 0 0 Shirley C Willihnganz PhD Executive Vice President 50842 0 0 0 1079568 0 0 0 0 0 1130410 0 0 0 Kathleen M Smith Assistant Secretary 45479 0 0 0 630369 0 183333 0 0 0 859181 0 0 0 Richard J Tomlinson CFO and Assistant Treasurer 192052 40362 0 0 0 0 0 0 0 0 192052 40362 0 0 Thomas M Jurich Athletic Director (ULAA) 255917 0 0 0 0 0 0 0 0 0 255917 0 0 0 Vickie Yates Brown Glisson President/CEO - Nucleus 334184 0 0 0 0 0 0 0 0 0 334184 0 0 0 Dr Donald M Miller Director, James Graham Brown Cancer Center 0 0 0 0 1789552 0 0 0 0 0 1789552 0 0 0 Reportable Compensation Amounts reported on Part VII and on Schedule J include compensation paid by the filing entity only and do not include compensation paid by the University of Louisville, which is not a controlling entity and is unrelated to the filing organization for Form 990 reporting purposes. Schedule J, Part II, Column (B)(iii) Other Reportable Compensation SEE SCHEDULE O FOR DETAIL OF OTHER REPORTABLE COMPENSATION Schedule J, Part I, Line 1a Tax indemnification and gross-up payments Dr. James Ramsey, Dr. Shirley Willihnganz, Kathleen Smith, Michael Curtin, Ronald K. Miller, and Dr. Donald Miller were provided tax gross-up payments relating to a Section 457(f) nonqualified deferred compensation plan. These gross-ups were calculated and payable whenever as contributed under the plan were vested and became payable during 2014. All tax gross-ups were reported and taxed accordingly. Additionally, Dr. James Ramsey is provided tax gross-ups relating to premiums paid by the organization for a long-term care insurance benefit and a supplemental disability insurance benefit. These gross-ups are taxed accordingly. Schedule J, Part I, Line 1a Health or social club dues or initiation fees Country club dues are paid on behalf of Dr. James Ramsey. Membership is used to conduct the business of the organization. Logs are required to determine taxable compensation from country club dues in the event that any of the use is personal. Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan THE FOLLOWING AMOUNTS RELATING TO A SECTION 457(F) NONQUALIFIED DEFERRED COMPENSATION PLAN WERE PAID OR VESTED BY THE UNIVERSITY OF LOUISVILLE FOUNDATION (THE FOUNDATION) DURING CALENDAR YEAR 2014: DR. JAMES RAMSEY - $1,905,240 DR. SHIRLEY WILLIHNGANZ - $972,686 KATHLEEN SMITH - $630,369 MICHAEL CURTIN - $232,028 RONALD K. MILLER - $139,133 DONALD MILLER - $1,789,552 PAYOUTS OF DEFERRED AMOUNTS INCLUDE TAX GROSS-UPS PAID BY THE FOUNDATION PURSUANT TO THE INDIVIDUAL'S EMPLOYMENT CONTRACT WITH THE FOUNDATION. IN ADDITION TO THE ABOVE, DEFERRED COMPENSATION WAS ACCRUED BY THE FOUNDATION ON BEHALF OF THE FOLLOWING INDIVIDUALS DURING THE CALENDAR YEAR: DR. JAMES RAMSEY - $362,500 KATHLEEN SMITH - $183,333 THE COMPENSATION VESTS ON FUTURE DATES PROVIDED THE INDIVIDUALS REMAIN EMPLOYED ON THOSE VESTING DATES. X 16 1835115 Market value X 338768 Other X 29797 Other X 10 20508 Other X EQUIPMENT 36 345437 Other X INSTRUMENTS 6 63402 Other X SOFTWARE 2 268266 Other X MISCELLANEOUS 54 138509 Other 0 false true true Schedule M, Part I, Line 32b Third parties used to solicit, process, or sell noncash contributions The Foundation occasionally uses real estate agents to sell real property and professional art dealers to sell artwork. Schedule M, Part I Explanations of reporting method for number of contributions Art - Works of art: NUMBER OF CONTRIBUTIONS Books and publications: NUMBER OF CONTRIBUTIONS Clothing and household goods: NUMBER OF CONTRIBUTIONS Food inventory: NUMBER OF CONTRIBUTIONS Other: NUMBER OF CONTRIBTIONS Other: NUMBER OF CONTRIBUTIONS Other: NUMBER OF CONTRIBUTIONS Other: NUMBER OF CONTRIBUTIONS Form 990, Part III, Line 4d Description of other program services (Expenses $ 933,324 including grants of $) DIVERSITY, OPPORTUNITY AND SOCIAL JUSTICE THE UNIVERSITY HAS MADE MEANINGFUL PROGRESS IN RECENT YEARS BY FOCUSING ON: 1. EXPANDING THE CARDINAL COVENANT PROGRAM, WHICH GUARANTEES FUNDING TO KENTUCKY'S POOREST STUDENTS WITH A GOAL OF REACHING $3.1 MILLION BY 2020; 2. INCREASING NEED-BASED AND TRANSFER AID; 3. INCORPORATING PRINCIPLES OF CULTURAL DIVERSITY, GLOBAL AWARENESS, AND SOCIAL JUSTICE INTO EDUCATIONAL CURRICULA, RESEARCH AND SCHOLARSHIP PROGRAMS AND PROGRAMS IN CIVIC ENGAGEMENT; 4. REVAMPING THE UNIVERSITY'S INTERNATIONAL CENTER TO LEAD INTERNATIONAL EDUCATIONAL AND RESEARCH INITIATIVES AND PROVIDE A WELCOMING PLACE FOR INTERNATIONAL STUDENTS AND; 5. INCREASE FACULTY AND STUDENT PARTICIPATION IN INTERNATIONAL EXPERIENCES AND PROJECT Form 990, Part V, Line 2b EMPLOYMENT TAX RETURNS THE ORGANIZATION'S COMMON PAYMASTER, THE UNIVERSITY OF LOUISVILLE, FILES ALL REQUIRED FEDERAL EMPLOYMENT TAX RETURNS ON BEHALF OF THE ORGANIZATION. 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 the University of Louisville Foundation, Inc. The Executive Committee may have and may exercise all of the authority of the Board, but may not have the authority of the Board in reference to amending, altering, or repealing the organization's By-Laws; electing, altering or removing any member of the Executive Committee itself nor 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 such 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 University of Louisville 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 15a Process to establish compensation of top management official The process for determining compensation of the organization's top management official involved all of the following elements: - Data gathering and analysis of compensation at comparably sized organizations along with benchmarking against other qualified officials in similarly situated positions; - Review and approval by an independent Personnel Committee; - Review and approval by the independent Board of Directors of the organization pursuant to feedback from the Personnel Committee; and - Contemporaneous documentation of the compensation determination process by the Personnel Committee and the Board of Directors in each body's respective minutes. The above process was used in 2014. Form 990, Part VI, Line 19 Required documents available to the public The organization's financial statements, Forms 990, conflict of interest policy, joint venture policy, non-retaliation policy, document integrity policy, and whistleblower policy are available at www.louisvillefoundation.org. All governing documents are available upon request. Form 990, Part VIII, Line 11d Other Miscellaneous Revenue MISCELLANEOUS - Total Revenue: 45335, Related or Exempt Function Revenue: 45335, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ; Form 990, Part IX, Line 11g Other Fees Allocated Salaries & Benefits of University Employees - Total Expense: 62903386, Program Service Expense: 47357777, Management and General Expenses: 5003365, Fundraising Expenses: 10542244; Other Service - Total Expense: 9164, Program Service Expense: , Management and General Expenses: 9164, Fundraising Expenses: ; Form 990, Part XI, Line 9 Other changes in net assets or fund balances RECONCILING ITEM - -798725; Schedule J, Part II, Column (B)(iii) OTHER REPORTABLE COMPENSATION DR. JAMES R. RAMSEY: CONTRACTUAL NON-CASH BENEFITS - $233,525 ANNUAL GRANT - $75,000 NOTIONAL INTEREST EARNINGS 2003-2014 - $145,487 TRUE-UP OF PRIOR YEAR TAX INDEMNIFICATIONS - $161,679 2020 RETENTION GRANT FOR 2012-2014 BIENNIUM - $500,000 MANDATED RETIREMENT ACCOUNT IN LIEU OF EARNED BONUS - $156,000 TAX INDEMNIFICATION PER CONTRACT - $867,074 TOTAL - $2,138,765 SHIRLEY C. WILLIHNGANZ: CONTRACTUAL NON-CASH BENEFITS - $106,882 ANNUAL GRANT - $50,000 NOTIONAL INTEREST EARNINGS - $181,731 2020 RETENTION GRANT BIENNIUM - $300,000 TAX INDEMNIFICATION PER CONTRACT - $440,955 TOTAL - $1,079,568 KATHLEEN M. SMITH: ANNUAL GRANT - $12,500 NOTIONAL INTEREST EARNINGS - $48,372 RETENTION GRANT BIENNIUM - $200,000 MANDATED RETIREMENT ACCOUNT IN LIEU OF EARNED BONUS - $77,205 TAX INDEMNIFICATION PER CONTRACT - $292,292 TOTAL - $630,369 DR. DONALD M. MILLER: RETENTION BONUS - $903,820 NOTIONAL INTEREST EARNINGS - $72,544 TAX INDEMNIFICATION PER CONTRACT - $813,188 TOTAL - $1,789,552 UNIVERSITY OF LOUISVILLE DEVELOPMENT CORPORATION LLC 215 CENTRAL AVENUE SUITE 304 LOUISVILLE KY 40208 263416894 REAL ESTATE KY 258645 -11435107 UNIVERSITY OF LOUISVILLE FOUNDATION INC NUCLEUS KENTUCKY'S LIFE SCIENCES AND INNOVATION CENTER LLC 215 CENTRAL AVENUE SUITE 304 LOUISVILLE KY 40208 263416972 REAL ESTATE KY 1226102 7773781 UNIVERSITY OF LOUISVILLE FOUNDATION INC PHOENIX PLACE-LOUISVILLE LLC 215 CENTRAL AVENUE SUITE 304 LOUISVILLE KY 40208 270264868 REAL ESTATE KY 38537 199318 UNIVERSITY OF LOUISVILLE FOUNDATION INC KYT-LOUISVILLE LLC 215 CENTRAL AVENUE SUITE 304 LOUISVILLE KY 40208 264771802 REAL ESTATE KY 0 -11012507 UNIVERSITY OF LOUISVILLE FOUNDATION INC AAF-LOUISVILLE LLC DBA CARDINAL STATION LLC 215 CENTRAL AVENUE SUITE 304 LOUISVILLE KY 40208 263061274 REAL ESTATE KY 1121800 8710016 UNIVERSITY OF LOUISVILLE FOUNDATION INC METACYTE EQUITY HOLDINGS LLC 215 CENTRAL AVENUE SUITE 304 LOUISVILLE KY 40208 HOLDING COMPANY (INACTIVE) KY 0 0 UNIVERSITY OF LOUISVILLE FOUNDATION INC MINERVA-LOUISVILLE LLC 215 CENTRAL AVENUE SUITE 304 LOUISVILLE KY 40208 455604157 ADMINISTRATIVE KY 0 18256742 UNIVERSITY OF LOUISVILLE FOUNDATION INC CCG - LOUISVILLE LLC 215 CENTRAL AVENUE SUITE 304 LOUISVILLE KY 40208 463848960 GOLF COURSE KY 2231116 4373474 UNIVERSITY OF LOUISVILLE FOUNDATION INC DCPA LLC 215 CENTRAL AVENUE SUITE 304 LOUISVILLE KY 40208 472587366 ADMINISTRATIVE KY 0 0 UNIVERSITY OF LOUISVILLE FOUNDATION INC UNIVERSITY HOLDINGS INC 215 CENTRAL AVENUE SUITE 304 LOUISVILLE KY 40208 262258318 MANAGEMENT SERVICES KY 501(c)(3 Type II UNIVERSITY OF LOUISVILLE FOUNDATION INC true ULH INC 215 CENTRAL AVENUE SUITE 304 LOUISVILLE KY 40208 310926171 STUDENT HOUSING KY 501(c)(3 Type II UNIVERSITY OF LOUISVILLE FOUNDATION INC true 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 FOUNDATION INC true THE NUCLEUS REAL PROPERTIES INC 215 CENTRAL AVENUE SUITE 304 LOUISVILLE KY 40208 463070346 REAL ESTATE KY 501(c)(3 Type II UNIVERSITY OF LOUISVILLE FOUNDATION INC true CAMPUS ONE LLC 600 N HURSTBOURNE PKWY SUITE 300 LOUISVILLE KY 40222 273900405 REAL ESTATE KY UNIVERSITY OF LOUISVILLE DEVELOPMENT CORPORATION LLC Unrelated -402407 1578033 false false CAMPUS TWO LLC 600 N HURSTBOURNE PKWY SUITE 300 LOUISVILLE KY 40222 455319715 REAL ESTATE KY UNIVERSITY OF LOUISVILLE DEVELOPMENT CORPORATION LLC Unrelated 618423 false false METACYTE BUSINESS LAB LLC 103 GRAWEMEYER HALL LOUISVILLE KY 40292 161657492 RESEARCH KY UNIVERSITY OF LOUISVILLE FOUNDATION INC C Corporation CHARITABLE REMAINDER TRUSTS (14) INVESTMENTS KY N/A Trust true true false true false false false false false false false false false false true false false false false UNIVERSITY HOLDINGS INC A 401106 AMOUNT ACCRUED UNIVERSITY HOLDINGS INC D 11167305 LOAN BALANCE CAMPUS TWO LLC B 786004 CAPITAL CONTRIBUTED METACYTE BUSINESS LAB LLC D 8034767 LOAN BALANCE METACYTE BUSINESS LAB LLC A 278914 AMOUNT ACCRUED