UNIVERSITY OF LOUISVILLE FOUNDATION INC

EIN: 237078461 501(c)(3) Education

LOUISVILLE, KY

Total Revenue
$65,921,956
Total Expenses
$75,831,967
Total Assets
$1,161,032,051
Net Assets
$1,098,261,394
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1970
Legal Domicile
KY
Principal Officer
KEITH SHERMAN
Phone
5022128200
Tax Period
2023-07-01 to 2024-06-30

UNIVERSITY OF LOUISVILLE FOUNDATION INC, founded in 1970, is a mid-sized nonprofit in the Education sector that reported $65.9M in total revenue in fiscal year 2023. Revenue surged 25% from the prior year, signaling strong growth momentum. Expenses of $75.8M exceeded revenue, resulting in a 15% operating deficit.

Mission

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.

Program Service Accomplishments

Program 1
Expenses: $71,265,676 Revenue: $2,240,432

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...

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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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Trantor Score

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

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

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $59,231,478
Program Service Revenue $0
Investment Income $118,096
Other Revenue $6,572,382
TOTAL REVENUE $65,921,956

Expense Breakdown

Grants Paid $65,826,104
Salaries & Benefits $3,533,253
Fundraising Expenses $0
Program Expenses $71,265,676
Other Expenses $6,472,610
TOTAL EXPENSES $75,831,967

Year-over-Year Comparison

2023 2022 Change
Revenue $65,921,956 $52,798,346 +0.2%
Expenses $75,831,967 $79,408,065 0.0%
Net Income $-9,910,011 $-26,609,719 -0.6%
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

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Liquidity & Cash Position

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Governance

Voting Members
15
Independent Members
15
Employees
14
Volunteers
23

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
4
$340,285
Total Directors
23
$0
Key Employees
0
$0
Highest Compensated
2
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JERRY ABRAMSON DIRECTOR 0.50
Director
$0 $0 $0
SOFYA ALTERMAN DIRECTOR 0.50
Director
$0 $0 $0
DAVID ANDERSON DIRECTOR 0.50
Director
$0 $0 $0
JIM BOONE VICE CHAIR 1.00
Officer Director
$0 $0 $0
SCOTT BRINKMAN DIRECTOR 0.50
Director
$0 $0 $0
ERNEST BROOKS DIRECTOR 0.50
Director
$0 $0 $0
MATT CARPER DIRECTOR 0.50
Director
$0 $0 $0
JESSICA COLE DIRECTOR 0.50
Director
$0 $0 $0
AL CORNISH DIRECTOR 0.50
Director
$0 $0 $0
CHRIS DISCHINGER DIRECTOR 0.50
Director
$0 $0 $0
JILL FORCE CHAIR 1.00
Officer Director
$0 $0 $0
KATIE HAYDEN DIRECTOR 0.50
Director
$0 $0 $0
KEVIN LEDFORD DIRECTOR 0.50
Director
$0 $0 $0
LARRY MCDONALD SECRETARY 1.00
Officer Director
$0 $0 $0
DIANE MEDLEY DIRECTOR 0.50
Director
$0 $0 $0
EUGENE MUELLER DIRECTOR 0.50
Director
$0 $0 $0
KIM SCHATZEL DIRECTOR 0.50
Director
$0 $0 $0
RUDY SPENCER DIRECTOR 0.50
Director
$0 $0 $0
DAVID KREBS DIRECTOR (PREVIOUS) 0.50
Director
$0 $0 $0
MARK NICKEL DIRECTOR (PREVIOUS) 1.00
Director
$0 $0 $0
MARY NIXON DIRECTOR (PREVIOUS) 0.50
Director
$0 $0 $0
JIM ROGERS DIRECTOR (PREVIOUS) 0.50
Director
$0 $0 $0
JOHN THOMPSON DIRECTOR (PREVIOUS) 0.50
Director
$0 $0 $0
KEITH SHERMAN EXECUTIVE DIRECTOR & COO 27.50
Officer
$292,771 $47,514 $340,285
REGINA LANSKWERT DIRECTOR OF ADMINISTRATION 43.00
Highest
$128,158 $44,078 $172,236
JUSTIN RUHL CONTROLLER 41.00
Highest
$131,650 $43,248 $174,898
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
2025 No data No data No data No data
2024 $65,921,956 $75,831,967 $1,161,032,051 $-9,910,011
2023 $52,798,346 $79,408,065 $1,057,025,817 $-26,609,719
2022 $57,798,687 $67,383,319 $1,030,933,372 $-9,584,632
2021 $43,496,002 $63,758,316 $1,075,988,166 $-20,262,314
2020 $66,715,351 $83,114,771 $841,865,659 $-16,399,420
2019 $57,412,218 $75,932,739 $861,586,142 $-18,520,521
2018 $71,787,421 $84,749,991 $866,487,768 $-12,962,570
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