UNIVERSITY OF LOUISVILLE REAL ESTATE FOUNDATION INC (EIN 472373203) - Form 990 Financial Analysis & Trantor Score

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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

2014

Legal Domicile

Principal Officer

KEITH SHERMAN

Phone

5022128200

Tax Period

2022-07-01 to 2023-06-30

UNIVERSITY OF LOUISVILLE REAL ESTATE FOUNDATION INC, founded in 2014, is a mid-sized nonprofit in the Philanthropy & Grantmaking sector that reported $38.5M in total revenue in fiscal year 2022. Revenue surged 24% from the prior year, signaling strong growth momentum. The organization ran a surplus of $20.4M, a strong 53% operating margin.

Mission

TO ACQUIRE, MAINTAIN, IMPROVE, LEVERAGE, MANAGE, LEASE, AND CONVEY PROPERTY (SEE SCHEDULE O) FOR THE BENEFIT OF THE UNIVERSITY OF 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 (2022)

Revenue Breakdown

Contributions & Grants $21,968,002

Program Service Revenue $15,418,721

Investment Income $1,007,160

Other Revenue $97,841

TOTAL REVENUE $38,491,724

Expense Breakdown

Grants Paid $847,151

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $17,556,612

Other Expenses $17,272,702

TOTAL EXPENSES $18,119,853

Year-over-Year Comparison

	2022	2021	Change
Revenue	$38,491,724	$30,989,906	+0.2%
Expenses	$18,119,853	$14,749,762	+0.2%
Net Income	$20,371,871	$16,240,144	+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

$877,611

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SCOTT BRINKMAN	DIRECTOR	0.50	Director	$0	$0	$0
JESSICA COLE	DIRECTOR	0.50	Director	$0	$0	$0
CHARLIE DAHLEM	DIRECTOR	0.50	Director	$0	$0	$0
JILL FORCE	DIRECTOR	0.50	Director	$0	$0	$0
STEVE GAULT	CHAIR	1.00	Officer Director	$0	$0	$0
MARIAH GRATZ	VICE CHAIR	1.00	Officer Director	$0	$0	$0
CRAIG HAWLEY	DIRECTOR	1.00	Director	$0	$0	$0
MARK NICKEL	DIRECTOR	0.50	Director	$0	$0	$0
KIM SCHATZEL	DIRECTOR	0.50	Director	$0	$0	$0
POWELL SPEARS	SECRETARY & TREASURER	1.00	Officer Director	$0	$0	$0
PAUL CARRICO	DIRECTOR (PREVIOUS)	0.50	Director	$0	$0	$0
LORI GONZALEZ	DIRECTOR (PREVIOUS)	0.50	Director	$0	$43,367	$877,611
KEN PAYNE	DIRECTOR (PREVIOUS)	1.00	Director	$0	$0	$0
EARL REED	DIRECTOR (PREVIOUS)	0.50	Director	$0	$0	$0
SANDY METTS SNOWDEN	DIRECTOR (PREVIOUS)	0.50	Director	$0	$0	$0
KEITH SHERMAN	EXECUTIVE DIRECTOR & COO	27.50	Officer	$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
2025	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$38,491,724	$18,119,853	$167,969,861	$20,371,871
2022	$30,989,906	$14,749,762	$163,989,545	$16,240,144
2021	$20,770,834	$16,972,521	$156,388,720	$3,798,313
2020	$15,434,967	$15,580,049	$160,434,902	$-145,082
2019	$43,339,310	$12,491,121	$168,218,960	$30,848,189
2018	$19,049,918	$8,198,220	$96,836,737	$10,851,698

UNIVERSITY OF LOUISVILLE REAL ESTATE FOUNDATION INC