LOUISVILLE ARENA AUTHORITY INC

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2006

Legal Domicile

Principal Officer

LESLIE GEOGHEGAN

Phone

5026909096

Tax Period

2023-01-01 to 2023-12-31

LOUISVILLE ARENA AUTHORITY INC, founded in 2006, is a mid-sized nonprofit in the Recreation & Sports sector that reported $38.4M in total revenue in fiscal year 2023. Revenue decreased 12% compared to the prior year. The organization ran a surplus of $11.0M, a strong 29% operating margin.

Mission

TO FINANCE AND OVERSEE THE MANAGEMENT OF A MULTI-PURPOSE ARENA IN DOWNTOWN LOUISVILLE, KY. THE ARENA IS A VENUE FOR A VARIETY OF COMMUNITY-ORIENTED EVENTS, WHICH WILL GENERALLY BE OPEN TO THE PUBLIC, INCLUDING UNIVERSITY OF LOUISVILLE MEN'S AND WOMEN'S BASKETBALL GAMES, CONCERTS, FAMILY SHOWS AND OTHER EVENTS.

Program Service Accomplishments

Program 1

Expenses: $26,427,498 Revenue: $3,571,891

THE LOUISVILLE ARENA AUTHORITY WAS CREATED IN 2005 UNDER THE DIRECTION OF THEN KENTUCKY GOVERNOR ERNIE FLETCHER AND OVERSEES THE FINANCIAL PROCESS OF THE KFC YUM! CENTER. THE ARENA AUTHORITY GUIDED THE DEVELOPMENT, FINANCING AND CONSTRUCTION PROCESS OF THE $238 MILLION ARENA. IT ALSO SELECTED FINANCING, CONSTRUCTION, DESIGN AND MANAGEMENT PARTNERS, WHICH INCLUDES AEG MANAGEMENT LOUISVILLE, LLC AS THE CURRENT MANAGING AND OPERATING ENTITY. SINCE ITS OPENING, THE KFC YUM! CENTER HAS HOSTED UNIVERSITY OF LOUISVILLE MEN'S AND WOMEN'S BASKETBALL GAMES, NUMEROUS CONCERTS AND FAMILY SHOWS AND PRIVATE EVENTS. INTEREST IN THE FACILITY REMAINS HIGH, AND AS A RESULT, NUMEROUS NEW BUSINESSES HAVE OPENED NEAR THE ARENA. AS ANTICIPATED, THE ARENA HAS LED TO ADDITIONAL ECONOMIC DEVELOPMENT IN DOWNTOWN LOUISVILLE.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $32,106,608

Program Service Revenue $3,071,891

Investment Income $2,687,317

Other Revenue $500,000

TOTAL REVENUE $38,365,816

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $26,427,498

Other Expenses $27,366,690

TOTAL EXPENSES $27,366,690

Year-over-Year Comparison

	2023	2022	Change
Revenue	$38,365,816	$43,721,895	-0.1%
Expenses	$27,366,690	$28,719,295	0.0%
Net Income	$10,999,126	$15,002,600	-0.3%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LESLIE GEOGHEGAN	CHAIR	10.00	Officer Director	$0	$0	$0
DARRIN MCCAULEY	DIRECTOR	1.00	Director	$0	$0	$0
NICOLE YATES	DIRECTOR	1.00	Director	$0	$0	$0
SHANNON CALES	DIRECTOR	1.00	Director	$0	$0	$0
MARKUS WINKLER	EX-OFFICIO	1.00	Director	$0	$0	$0
MARK BLAYNEY	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL JONES	DIRECTOR	1.00	Director	$0	$0	$0
THOMAS LISTON	DIRECTOR	1.00	Director	$0	$0	$0
SECRETARY DON PARKINSON	DIRECTOR	1.00	Director	$0	$0	$0
STEVE ROWLAND	DIRECTOR	1.00	Director	$0	$0	$0
LOUIE SEGER	VICE CHAIR	5.00	Officer Director	$0	$0	$0
YVETTE GENTRY	DIRECTOR	1.00	Director	$0	$0	$0
DALE ROMANS	DIRECTOR	1.00	Director	$0	$0	$0
DEEPAK TIWARI	DIRECTOR	1.00	Director	$0	$0	$0
SECRETARY J MICHAEL BROWN	DIRECTOR	1.00	Director	$0	$0	$0
SECRETARY LARRY HAYES	DIRECTOR	1.00	Director	$0	$0	$0
SEEMA SINGAL	DIRECTOR	1.00	Director	$0	$0	$0
DR JODY PRATHER	DIRECTOR	1.00	Director	$0	$0	$0
MARCUS WITHERS	DIRECTOR	1.00	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$38,365,816	$27,366,690	$365,338,362	$10,999,126
2022	$43,721,895	$28,719,295	$359,835,538	$15,002,600
2021	$18,535,078	$31,967,279	$379,313,505	$-13,432,201
2020	$31,944,776	$30,136,218	$395,899,419	$1,808,558
2019	$36,241,787	$28,049,566	$396,734,353	$8,192,221
2018	$34,268,518	$28,216,760	$388,069,105	$6,051,758