2026-05-11T08:45:49-05:00 2025-06-30 611064249 DEMING MALONE LIVESAY & OSTROFF PSC 9300 SHELBYVILLE RD STE 1100 LOUISVILLE KY 402225187 990 2024-07-01 237078461 UNIVERSITY OF LOUISVILLE FOUNDATION INC UNIV 5022128200 215 CENTRAL AVE STE 212 LOUISVILLE KY 40208 KEITH SHERMAN EXECUTIVE DIRECTOR & COO 5022128200 2026-05-06 1 0 CHRISTINE NICHTER P01022180 5024269660 2026-05-05 2024 2025-03-06 01:10:19Z KEITH SHERMAN 215 CENTRAL AVE STE 212 LOUISVILLE KY 40208 50133272 0 X LOUISVILLEFOUNDATION.ORG X 1970 KY THE FOUNDATION SUPPORTS THE UNIVERSITY OF LOUISVILLE (SEE SCHEDULE O) THE FOUNDATION SUPPORTS THE UNIVERSITY OF LOUISVILLE IN ITS EFFORT 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. 18 18 12 24 0 0 59231478 32669147 0 0 118096 16057353 6572382 293260 65921956 49019760 65826104 67498401 0 0 3533253 1532382 0 0 0 6472610 5995225 75831967 75026008 -9910011 -26006248 1161032051 1207594633 62770657 61853115 1098261394 1145741518 X THE FOUNDATION SUPPORTS THE UNIVERSITY OF LOUISVILLE IN ITS EFFORT TO MAINTAIN ITS DISTINCTION AS A PREMIER, NATIONALLY RECOGNIZED METROPOLITAN RESEARCH UNIVERSITY WHILE PROMOTING THE UNIVERSITY'S DEPARTMENTS IN THEIR EDUCATIONAL, SCIENTIFIC, (SEE SCHEDULE O) 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. 0 0 74365248 67498401 875387 THE FOUNDATION SUPPORTS THE UNIVERSITY OF LOUISVILLE 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. 74365248 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 7 0 1 12 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 18 18 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 5022128200 215 CENTRAL AVE STE 212 LOUISVILLE KY 40208 JERRY ABRAMSON DIRECTOR 0.50 0.00 X 0 0 0 SOFYA ALTERMAN DIRECTOR 0.50 0.00 X 0 0 0 DAVID ANDERSON DIRECTOR 0.50 0.00 X 0 0 0 GERRY BRADLEY DIRECTOR 0.50 0.00 X 0 0 0 SCOTT BRINKMAN DIRECTOR 0.50 0.50 X 0 0 0 ERNEST BROOKS DIRECTOR 0.50 0.00 X 0 0 0 MATT CARPER DIRECTOR 0.50 0.00 X 0 0 0 JESSICA COLE DIRECTOR 0.50 0.00 X 0 0 0 AL CORNISH DIRECTOR 0.50 0.00 X 0 0 0 CHARLIE DAHLEM DIRECTOR 0.50 1.00 X 0 0 0 CHRIS DISCHINGER DIRECTOR 0.50 0.00 X 0 0 0 JILL FORCE CHAIR 1.00 0.00 X X 0 0 0 MARIAH GRATZ DIRECTOR 0.50 1.00 X 0 0 0 KEVIN LEDFORD DIRECTOR 0.50 0.00 X 0 0 0 LARRY MCDONALD SECRETARY 1.00 0.00 X X 0 0 0 EUGENE MUELLER DIRECTOR 0.50 0.00 X 0 0 0 MARK NICKEL VICE CHAIR 1.00 0.00 X X 0 0 0 ALLIE ROSE PHILLIPS DIRECTOR 0.50 0.00 X 0 0 0 JAKE SMITH DIRECTOR 0.50 1.00 X 0 0 0 POWELL SPEARS DIRECTOR 0.50 0.50 X 0 0 0 RUDY SPENCER DIRECTOR 0.50 0.00 X 0 0 0 JIM BOONE DIRECTOR (PREVIOUS) 1.00 0.00 X 0 0 0 DIANE MEDLEY DIRECTOR (PREVIOUS) 0.50 0.00 X 0 0 0 KIM SCHATZEL DIRECTOR (PREVIOUS) 0.50 0.00 X 0 0 0 KEITH SHERMAN EXECUTIVE DIRECTOR & COO 27.50 27.50 X 303255 0 39404 REGINA LANSKWERT DIRECTOR OF ADMINISTRATION 43.00 0.00 X 143788 0 33155 JUSTIN RUHL CONTROLLER 30.00 10.00 X 138964 0 30616 586007 0 103175 3 0 1 0 PRIME BUCHHOLZ 273 CORPORATE DR STE 250 PORTSMOUTH NH 03801 INVESTMENT SERVICES 874365 EXTREME CONTRACTING LLC 1600 S FLOYD STREET LOUISVILLE KY 40208 GENERAL CONTRACTOR 642801 NTS MANAGEMENT COMPANY 500 N HURSTBOURNE PKWY STE 400 LOUISVILLE KY 40222 PROPERTY MANAGEMENT 565216 BEST MECHANICAL SERVICES INC 9901 LINN STATION ROAD SUITE 850 LOUISVILLE KY 40223 HVAC CONTRACTOR 247068 RJ'S CLEANING SERVICES INC 7530 HIGHWAY 62 LANESVILLE IN 47136 JANITORIAL SERVICES 144465 8 32669147 1878210 32669147 16057353 16057353 531385 1113512 -582127 -582127 -582127 PROFESSIONAL FEES AND SERVICES 611710 909845 909845 MISCELLANEOUS 900099 1289 1289 ACTUARIAL LOSS - ANNUITY & TRUST 900099 -35747 -35747 875387 49019760 875387 0 15475226 X 67498401 67498401 380899 380899 696717 696717 218332 218332 156303 156303 80131 64030 16101 66553 66553 112534 112534 937238 937238 212878 212878 629 629 49669 49669 147566 147566 71 71 1649422 1649422 54490 54490 261787 261787 CHANGE-PLEDGE RESERVE 1791453 1791453 ANNUITANT PAYMENTS 549210 549210 MISCELLANEOUS EXPENSES 127350 127350 STATE UBI TAXES 34375 34375 75026008 74365248 660760 0 2893302 2343292 23744693 19135139 16159920 9615590 4197196 900543 1040487 1000000 164266 496875 237168 17841637 5608277 45740612 12233360 458364260 379443945 530855226 669015381 77375214 113670215 1161032051 1207594633 2151548 1154056 4480549 3954270 15769054 16365994 29900000 28940000 10469506 11438795 62770657 61853115 X 68980181 65584206 1029281213 1080157312 1098261394 1145741518 1161032051 1207594633 X -26006248 79478625 -5992253 X 0 1 X 1 0 X 39331772 50079321 46406855 59231478 32669147 227718573 39331772 50079321 46406855 59231478 32669147 227718573 40966811 186751762 4086251 4856152 5166545 4951331 16588738 35649017 263367590 9230141 0.70910 0.74440 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 923515330 9883366 74968247 22935486 8786038 976645419 846508159 16154537 94290360 28199525 5238201 923515330 821796650 13084840 38785596 22016640 5142287 846508159 848961007 6467011 -11383018 16840418 5407932 821796650 635865444 6570804 216570254 5262428 4783067 848961007 0.23010 0.76990 0.00000 1 0 2790428 2790428 10611934 4076520 6535414 1185297 1126938 58359 3253978 404819 2849159 12233360 PARTNERSHIP INVESTMENTS 667718613 F MISCELLANEOUS INVESTMENTS 1296768 F 669015381 FUNDS HELD IN TRUST BY OTHERS 80586659 DUE FROM RELATED ORGANIZATIONS 33083556 113670215 DUE TO UNIVERSITY OF LOUISVILLE 6537886 ANNUITIES AND TRUSTS PAYABLE 4900909 11438795 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. AS OF JUNE 30, 2025, THE FOUNDATION HELD APPROXIMATELY $4.1 MILLION FOR THE ASSOCIATION'S INVESTMENT PURPOSES. THE FOUNDATION ENTERED INTO AN AGREEMENT WITH LEGACY FOUNDATION OF KENTUCKIANA (LEGACY), FORMERLY JEWISH HOSPITAL & ST. MARY'S HEALTHCARE, INC., WHEREBY THE FOUNDATION SERVES IN AN AGENCY CAPACITY TO INVEST FUNDS ON BEHALF OF LEGACY. LEGACY IS A SEPARATE CORPORATION ORGANIZED FOR THE PURPOSE OF PROVIDING HEALTH CARE SERVICES. AS OF JUNE 30, 2025, THE FOUNDATION HELD APPROXIMATELY $12 MILLION FOR LEGACY'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, 2025, THE FOUNDATION HELD APPROXIMATELY $300,000 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. PART X, LINE 2: UNDER U.S. GAAP, THE TAX EFFECTS FROM UNCERTAIN TAX POSITIONS ARE TO BE RECOGNIZED IN THE CONSOLIDATED FINANCIAL STATEMENTS ONLY IF THE POSITION IS MORE LIKELY THAN NOT TO BE SUSTAINED IF THE POSITION WERE TO BE CHALLENGED BY A TAX AUTHORITY. 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 IN THE CONSOLIDATED FINANCIAL STATEMENTS AT JUNE 30, 2025. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 107049156 EUROPE (INCLUDING ICELAND AND GREENLAND) 0 0 INVESTMENTS 17365524 0 0 0 0 0 0 124414680 0 124414680 1 0 1 1 1 0 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 64266031 844863 FAIR VALUE BOOKS, ART, EQUIPMENT OPERATIONAL AND DEVELOPMENT SUPPORT U OF L HEALTH - LOUISVILLE INC 530 S JACKSON ST LOUISVILLE KY 40202 843178470 501(C)(3) 2387507 0 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. THE BUDGET IS ESTABLISHED AND AGREED UPON BEFORE THE FISCAL YEAR BEGINS. GRANTS ARE ONLY GIVEN AS REIMBURSEMENTS. THE EXPENSES MUST ALREADY BE INCURRED TO RECEIVE A GRANT. X 0 0 0 0 0 0 0 0 0 KEITH SHERMAN EXECUTIVE DIRECTOR & COO 302067 0 0 0 1188 0 30711 0 8693 0 342659 0 0 0 REGINA LANSKWERT DIRECTOR OF ADMINISTRATION 143374 0 0 0 414 0 14235 0 18920 0 176943 0 0 0 JUSTIN RUHL CONTROLLER 138784 0 0 0 180 0 13032 0 17584 0 169580 0 0 0 PART I, LINE 3 THE BOARD OF DIRECTORS APPROVED COMPENSATION OF THE EXECUTIVE DIRECTOR & COO. X 6 281086 DONOR VALUE X 7039 DONOR VALUE X 1033347 FAIR VALUE X OTHER 7 428320 DONOR VALUE X EQUIPMENT 6 128418 DONOR VALUE 0 1 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, THE CHIEF ACCOUNTING OFFICER AND THE 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, COMPLIANCE, AND RISK MANAGEMENT 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 FOUNDATION, 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 ORGANIZATION'S FINANCIAL STATEMENTS, FORMS 990, AND BOARD MINUTES ARE AVAILABLE AT LOUISVILLEFOUNDATION.ORG. ALL GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART IX, STATEMENT OF FUNCTIONAL EXPENSES THE STATEMENT OF FUNCTIONAL EXPENSES DOES NOT REFLECT ANY FUNDRAISING EXPENSES AS ALL FUNDRAISING ACTIVITIES ARE CONDUCTED BY THE UNIVERSITY OF LOUISVILLE. FORM 990, PART XI, LINE 9: COMMON CONTROL TRANSFER -5,992,253. 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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