University of Louisville Research Foundation

EIN: 611029626 501(c)(3) Education

Louisville, KY

Total Revenue
$651,047,384
Total Expenses
$635,018,020
Total Assets
$966,604,917
Net Assets
$266,327,221
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Financial Trends

Organization Details

Formation Year
1984
Legal Domicile
KY
Phone
5028526164
Tax Period
2023-07-01 to 2024-06-30

University of Louisville Research Foundation, founded in 1984, is a major nonprofit in the Education sector that reported $651.0M in total revenue in fiscal year 2023.

Mission

The University of Louisville Research Foundation is organized for the purpose of promoting and supporting research projects, investigations, clinical services, and other activities relating to the missions of the University of Louisville.

Program Service Accomplishments

Program 1
Expenses: $387,941,603 Revenue: $400,543,367

The University of Louisville Research Foundation houses financial activity related to services provided by the UofL Health Sciences Center and over 1,200 physician faculty within the University's...

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The University of Louisville Research Foundation houses financial activity related to services provided by the UofL Health Sciences Center and over 1,200 physician faculty within the University's School of Medicine. The faculty at the School of Medicine staff 260 clinics over a multi-state region and provided the following services during the fiscal year: - Added 146 new providers and 15 new locations to serve the local community and the Commonwealth; - Treatment provided in over 2.5 million separate patient visits; and - Added more than 119,000 new patients to the UofL Health System. The University has an academic affiliation agreement with UL Health for the purpose of advancing the University's academic, education and research missions, providing quality patient care regardless of ability to pay and assurance that state-of-the-art facilities will be available for providing healthcare to patients. University employees, residents and students provide medical care utilizing UL Health run facilities, in return, UL Health receives revenues for the services provided. UL Health provides support to the University through ULRF by funding for salaries, benefits and insurance coverage, annual academic support and annual departmental/administrative support pursuant to the terms of the master support and services agreement. Additionally, ULRF works with other area hospitals by providing support services, such as residents and other staff.

Program 2
Expenses: $158,578,543 Revenue: $5,433,481

The University of Louisville Research Foundation (ULRF) continued its mission of conducting groundbreaking research in the 2023-2024 fiscal year, securing over $188 million to drive innovation and...

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The University of Louisville Research Foundation (ULRF) continued its mission of conducting groundbreaking research in the 2023-2024 fiscal year, securing over $188 million to drive innovation and address critical societal challenges. This significant investment, comprising 906 awards totaling $188.3 million, fuels important research across key areas, including health, workforce development, and engineering. Federal agencies recognized ULRF's leadership with $113.5 million in direct funding, complemented by an additional $32.9 million in federal flowthrough. Support from industry ($13.3 million), non-profits ($8.1 million), and the Commonwealth of Kentucky ($18.4 million) further underscores the diverse partnerships fueling ULRF's research engine. Transforming Healthcare: A landmark $7.9 million grant from the U.S. Army Medical Research Acquisition Activity (USAMRAA) is powering the first U.S. clinical trial investigating a novel intravenous stem cell therapy for heart failure, utilizing umbilical cord-derived cells. This pioneering work exemplifies ULRF's commitment to advancing treatment options for critical health conditions. Strengthening Healthcare Access: Addressing projected physician shortages, ULRF secured $4 million in the first year of a $16 million HRSA grant to bolster primary care physician training and support, directly impacting healthcare access in underserved areas. Leading Biodefense and Pandemic Preparedness: The University's Regional Biocontainment Laboratory (RBL) received $2.9 million from the National Institute of Allergy and Infectious Diseases (NIAID). As one of only 11 such facilities nationwide, the RBL at the Center for Predictive Medicine provides crucial expertise and infrastructure for developing therapeutics against serious pathogens, vital for national security and public health. Advancing Spinal Cord Injury Research and Care: A $2 million investment will expand the Spinal Cord Injury Neuromodulation and Translational Recovery Institute at the Frazier Rehab Institute. This expansion builds upon the internationally recognized Kentucky Spinal Cord Injury Research Center (KSCIRC), facilitating the translation of cutting-edge research into enhanced treatment for both adult and pediatric spinal cord injuries. Building a Resilient and Equitable Louisville: ULRF is actively engaged in community impact through two Louisville Metro Government grants. The Louisville Trauma Resilient Communities Healing Project will foster resilience and equity for vulnerable youth and families, addressing the impact of trauma and violence in west and south Louisville. Simultaneously, a digital literacy train-the-trainer program will empower residents with essential digital skills, promoting economic opportunity and inclusion. Additional Notable Awards: The fiscal year also saw significant funding for projects focused on developing innovative treatments for eating disorders (NIH), advancing spinal cord injury research (HRSA), and enhancing digital literacy within the Louisville community (Louisville Metro Government). These accomplishments underscore the University of Louisville Research Foundation's unwavering commitment to impactful research that advances knowledge, improves lives, and strengthens our community and nation.

Program 3
Expenses: $74,139,150 Revenue: $0

The University of Louisville Research Foundation provides funding for student scholarships at the University of Louisville. During the fiscal year, the organization provided $74.1 million in funds to...

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The University of Louisville Research Foundation provides funding for student scholarships at the University of Louisville. During the fiscal year, the organization provided $74.1 million in funds to 13,220 students attending the University.

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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 $238,444,007
Program Service Revenue $405,992,716
Investment Income $-269,420
Other Revenue $6,880,081
TOTAL REVENUE $651,047,384

Expense Breakdown

Grants Paid $74,142,916
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $624,037,932
Other Expenses $560,875,104
TOTAL EXPENSES $635,018,020

Year-over-Year Comparison

2023 2022 Change
Revenue $651,047,384 $631,925,790 +0.0%
Expenses $635,018,020 $589,921,931 +0.1%
Net Income $16,029,364 $42,003,859 -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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Governance

Voting Members
13
Independent Members
10
Employees
N/A
Volunteers
12

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
11
$2,909,959
Total Directors
15
$277,014
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Diane B Medley Treasurer 0.5
Officer Director
$0 $0 $0
Diane Porter Vice Chair 0.5
Officer Director
$0 $0 $0
James M Rogers Secretary to 1/12/24 0.5
Officer Director
$0 $0 $0
Laurence Benz Chair 0.5
Officer Director
$0 $0 $0
Alfonso Cornish Director 0.5
Director
$0 $0 $0
Brian F Lavin Director 0.5
Director
$0 $0 $0
Christopher Dischinger Director from 4/25/24 0.5
Director
$0 $0 $0
Dr Raymond Burse Director 0.5
Director
$0 $0 $0
Eugene G Mueller Director 0.5
Director
$0 $29,670 $168,857
Jerry Abramson Director 0.5
Director
$0 $0 $0
Kevin Ledford Director 0.5
Director
$0 $22,515 $95,185
Larry Hayes Director from 4/25/24 0.5
Director
$0 $0 $0
Mary R Nixon Director to 1/12/24 0.5
Director
$0 $0 $0
Sarah K Hayden Director 0.5
Director
$0 $0 $12,972
Sherrill Zimmerman Director 0.5
Director
$0 $0 $0
Charles Perusse Vice President from 5/13/24 0.5
Officer
$0 $0 $0
Daniel A Durbin Vice President to 5/12/24 0.5
Officer
$0 $56,228 $550,294
Dr Kim Schatzel President 0.5
Officer
$0 $290,624 $1,221,581
Dr Thomas Gerard Bradley Vice President 0.5
Officer
$0 $58,186 $658,680
Jon B Klein MD PhD Vice President from 2/13/24 0.5
Officer
$0 $0 $0
Kevin H Gardner PhD Vice President to 2/12/24 0.5
Officer
$0 $48,732 $368,990
Kyle J Beamer Assistant Secretary 0.5
Officer
$0 $24,105 $110,414
Dr Beth Boehm Former Vice President N/A
$0 $48,367 $324,039
Lori Gonzalez PhD Former President N/A
$0 $34,432 $458,625
Prof Enid Trucios-Haynes Former Treasurer N/A
$0 $42,892 $203,218
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 $651,047,384 $635,018,020 $966,604,917 $16,029,364
2023 $631,925,790 $589,921,931 $977,253,553 $42,003,859
2022 $675,356,464 $631,642,385 $946,253,585 $43,714,079
2021 $598,374,107 $540,984,744 $226,534,794 $57,389,363
2020 $510,749,298 $440,333,234 $160,209,784 $70,416,064
2019 $462,613,103 $451,123,965 $122,946,158 $11,489,138
2018 $427,128,688 $442,272,819 $108,885,647 $-15,144,131
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