University Of Louisville Foundation Inc
- Assets
- $1.1b
- Revenue
- $43.5m
- Investments
- $571.5m
- Employees
- 14
- Location
- Louisville, KY
- Founding
- 02/1971
- Data as of
- 06/2021
- EIN
- 23-7078461
Organization Overview
University Of Louisville Foundation Inc is located in Louisville, KY. The organization was established in 1971. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. As of 06/2022, University Of Louisville Foundation Inc employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. University Of Louisville Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, University Of Louisville Foundation Inc generated $43.5m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (6.8%) each year. All expenses for the organization totaled $63.8m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (11.7%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, University Of Louisville Foundation Inc has awarded 16 individual grants totaling $420,118,060. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION SUPPORTS THE UNIVERSITY OF LOUISVILLE (SEE SCHEDULE O) THE FOUNDATION SUPPORTS 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.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION SUPPORTS 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. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Anderson Director | Trustee | 0.5 | $0 |
Jim Boone Secretary | OfficerTrustee | 1 | $0 |
Ernest Brooks Director | Trustee | 0.5 | $0 |
Paul Carrico Director | Trustee | 0.5 | $0 |
Jessica Cole Director | Trustee | 0.5 | $0 |
Al Cornish Director | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Prime Buchholz Investment Services | 6/29/22 | $804,911 |
Centerplate - Service America Hospitality Services | 6/29/22 | $759,917 |
Nts Management Company Property Management | 6/29/22 | $532,949 |
Dinsmore & Shohl Llp Legal Services | 6/29/22 | $367,532 |
Ernst & Young Llp Accounting Services | 6/29/22 | $204,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $39,331,772 |
| Investment income | $148,843 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $785,955 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $43,496,002 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $310,315 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,149,509 |
| Pension plan accruals and contributions | $98,240 |
| Other employee benefits | $558,287 |
| Payroll taxes | $93,008 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $919,199 |
| Fees for services: Accounting | $234,208 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $976,758 |
| Fees for services: Other | $80,670 |
| Advertising and promotion | $41,207 |
| Office expenses | $226,731 |
| Information technology | $67,108 |
| Royalties | $0 |
| Occupancy | $839,355 |
| Travel | $5,899 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,863,362 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $237,960 |
| Insurance | $124,848 |
| All other expenses | $0 |
| Total functional expenses | $63,758,316 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,199,320 |
| Savings and temporary cash investments | $48,531,229 |
| Pledges and grants receivable | $14,147,624 |
| Accounts receivable, net | $4,469,132 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $13,053,467 |
| Inventories for sale or use | $103,870 |
| Prepaid expenses and deferred charges | $440,107 |
| Investments—publicly traded securities | $285,129,239 |
| Investments—other securities | $571,489,888 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $79,957,529 |
| Total assets | $1,075,988,166 |
| Accounts payable and accrued expenses | $2,558,672 |
| Grants payable | $0 |
| Deferred revenue | $4,716,032 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $14,488,404 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $33,053,116 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $10,494,969 |
| Total liabilities | $65,311,193 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $1,010,676,973 |
Grants Awarded
Over the last fiscal year, University Of Louisville Foundation Inc has awarded $56,204,709 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
UNIVERSITY OF LOUISVILLE PURPOSE: OPERATIONAL AND DEVELOPMENT SUPPORT | $45,549,057 |
U OF L HEALTH - LOUISVILLE INC PURPOSE: GENERAL SUPPORT | $10,655,652 |