University of Louisville Foundation Inc is a 501(c)(3) organization based in Louisville, Kentucky, registered in 1971, with $65,921,956 in FY2023 revenue. CharityIndex grades it B+, and it directs about 94% of spending to programs.
Revenue (FY2023)
$65.9M
▲ 24.9% vs prior year
Education median: $200K
Expenses (FY2023)
$75.8M
Net assets
$1.1B
Employees
14
Rated on 4 of 4 criteria.
Held down by its weakest criterion — a strong score on one criterion can't hide a weak one.
How the rating works →Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For University of Louisville Foundation Inc: 94% to programs · $0 to raise $100 earns a A+ on this criterion. See the exact thresholds →
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For University of Louisville Foundation Inc: 174 mo reserves · -15% margin earns a C+ on this criterion. See the exact thresholds →
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For University of Louisville Foundation Inc: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For University of Louisville Foundation Inc: 5 of 5 disclosure signals earns a A+ on this criterion. See the exact thresholds →
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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.
Research, scholarship and creative activity the university, with the help of the foundation, is focused on ensuring that the great ideas that begin in the laboratory and the classroom become tangible benefits for people. the driving goals behind these steps are to: 1. increase funded research; 2. increase our translational research in response to community needs and fuel economic development; 3. focus on areas of scholarly and creative activity that create national prominence; and 4. expand clinical operations to better serve kentucky. the foundation is financing and developing three research parks, one at each of the university's campuses - belknap campus, health sciences center campus, and shelby campus. each of these parks is being designed to further the university's research mission, provide additional revenue streams and promote economic development in the louisville area. 1. nucleus innovation park: this research and innovation park includes the techcenter, the nucleus, and the ihub. once completed it is projected to create 8,700 jobs. the techcenter offers laboratory space, both wet and dry, and office space. a shared laboratory facility equipped with common laboratory equipment is available for early stage companies requiring laboratory space. the nucleus is an eight story, 200,000 square foot building with a green roof and open spaces. it will house the international center for long term care innovation which serves as a catalyst for the university's worldwide aging care research initiative. other tenants include atria senior living, university's executive vice president for research and innovation research office, accelerators for start-up companies and the administration for the university's medical faculty. the ihub, our co-working space for very early stage companies, continues to be well used. university associated startups and early stage companies are located in the techcenter, the ihub and the nucleus. 2. shelbyhurst: this research and office park is located on university's shelby campus in eastern jefferson county. shelbyhurst features the 38,000 sq. ft. center for predictive medicine, a national institutes of health funded biosafety lab focusing on research of infectious diseases. through a partnership with real estate development firm nts, the foundation helped construct the first leed certified class a office building at shelbyhurst. the facility, known as 600 north, is the first building of its type in kentucky and despite the challenging economic climate has achieved 100% occupancy leading to construction of a second, similar building nearby. future plans include a hotel and conference for hosting researchers and faculty from across the globe. 3. belknap engineering and applied sciences research park: this 39 acre research park is being developed as the centerpiece for research and collaboration at university's belknap campus. the development is the centerpiece of a signature tax increment financing (tif) district, designed to stimulate economic growth in the area. the tif district covers more than 900 acres and was given approval by the kentucky economic development finance authority, paving the way for what could be an estimated $1 billion in growth over 30 years. the project includes a $31 million road improvement project that was jumpstarted by the foundation with a $6.2 million commitment. building on resources at the institution's j. b. speed school of engineering, a major focus of the research park will be to bring companies and engineering experts together. the university also envisions research, support facilities and staff to help university's faculty commercialize their ideas and inventions.
Community engagement and responsible stewardship the university's strategic plan, "the 2020 plan: making it happen," describes the university's commitment to community engagement and reinforces the concept of a "citizen university." future growth of initiatives in the signature partnership, ideas to acti
Revenue declined from $84.7M (FY2013) to $65.9M (FY2023) across 11 reported years.
Financial snapshot
Operating margin
-15.0%
Spent more than it raised in the latest fiscal year.
Total assets
$1.2B
Total liabilities
$62.8M
Net assets
$1.1B
Salaries & benefits
$3.5M
5% of expenses
Board members
15
15 independent
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2023 | $65,921,956▲24.9% | $75,831,967▼4.5% | $1,098,261,394▲10.4% | $1,161,032,051▲9.8% | 990 |
| 2022 | $52,798,346▼8.7% | $79,408,065▲17.8% | $994,946,868▲2.7% | $1,057,025,817▲2.5% | 990 |
| 2021 | $57,798,687▲32.9% | $67,383,319▲5.7% | $969,212,723▼4.1% | $1,030,933,372▼4.2% | 990 |
| 2020 | $43,496,002▼34.8% | $63,758,316▼23.3% | $1,010,676,973▲30.2% | $1,075,988,166▲27.8% | 990 |
| 2019 | $66,715,351▲16.2% | $83,114,771▲9.5% | $776,229,494▼2.2% | $841,865,659▼2.3% | 990 |
| 2018 | $57,412,218▼20.0% | $75,932,739▼10.4% | $793,465,040▲0.3% | $861,586,142▼0.6% | 990 |
| 2017 | $71,787,421▲33.2% | $84,749,991▼14.9% | $790,852,329▲2.1% | $866,487,768▼1.2% | 990 |
| 2016 | $53,904,862▼24.1% | $99,565,462▼34.8% | $774,779,293▲3.1% | $877,146,093▲0.8% | 990 |
| 2015 | $71,055,635▲6.8% | $152,679,935▲46.3% | $751,646,430▼10.1% | $870,000,371▼11.4% | 990 |
| 2014 | $66,540,897▼21.4% | $104,333,809▼3.9% | $835,807,795▼6.5% | $981,693,037▼6.9% | 990 |
| 2013 | $84,685,568 | $108,600,605▲24.8% | $893,560,811▲8.3% | $1,053,975,329▲10.1% | 990 |
| 2012 | — | $86,990,128▲5.6% | $825,293,165▲4.3% | $957,096,322▲3.9% | 990 |
| 2011 | — | $82,399,706 | $791,372,294 | $921,526,307 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Highest-paid: Keith Sherman — $292,771 (0.39% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Keith Sherman | Executive Director & Coo | 27.5 | $292,771 |
| Justin Ruhl | Controller | 41 | $131,650 |
| Regina Lanskwert | Director of Administration | 43 | $128,158 |
| Al Cornish | Director | 0.5 | — |
| Chris Dischinger | Director | 0.5 | — |
| David Anderson | Director | 0.5 | — |
| David Krebs | Director (previous) | 0.5 | — |
| Diane Medley | Director | 0.5 | — |
| Ernest Brooks | Director | 0.5 | — |
| Eugene Mueller | Director | 0.5 | — |
| Jerry Abramson | Director | 0.5 | — |
| Jessica Cole | Director | 0.5 | — |
| Jill Force | Chair | 1 | — |
| Jim Boone | Vice Chair | 1 | — |
| Jim Rogers | Director (previous) | 0.5 | — |
| John Thompson | Director (previous) | 0.5 | — |
| Katie Hayden | Director | 0.5 | — |
| Kevin Ledford | Director | 0.5 | — |
| Kim Schatzel | Director | 0.5 | — |
| Larry Mcdonald | Secretary | 1 | — |
| Contractor | Services | Paid |
|---|---|---|
| Nts Management Company | Property Management | $1,106,761 |
| Prime Buchholz | Investment Services | $828,419 |
| First Class Commercial Cleaning | Cleaning Services | $306,468 |
| Shaw Secure Solutions LLC | Security Services | $186,278 |
| Centerplate-service America | Hospitality Services | $158,618 |
149 grants to University of Louisville Foundation Inc totaling $35.1M, reported by foundations on their Schedule I filings — showing the 15 most recent.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| American Endowment Foundation | Educational | 2024 | $161,000 |
| Morgan Stanley Global Impact Funding Trust Inc | Unrestricted general support | 2024 | $105,000 |
| Commonwealth Credit Union | To support a transformative impact on campus today and chart the course for a stronger community in the years to come. | 2024 | $103,000 |
| Silicon Valley Community Foundation | Education | 2024 | $50,000 |
| American Cancer Society Inc | Patient support | 2024 | $45,000 |
| American Cancer Society Inc | Patient support | 2024 | $45,000 |
| Ayco Charitable Foundation | Education | 2024 | $35,000 |
| Morgan Stanley Global Impact Funding Trust Inc | Unrestricted general support | 2024 | $25,000 |
| Raymond James Charitable Endowment Fund | General support | 2024 | $22,000 |
| American Online Giving Foundation Inc | General support | 2024 | $20,351 |
| Charities Aid Foundation America | Charitable donation | 2024 | $18,828 |
| The Seattle Foundation | Brandeis school of law | 2024 | $15,000 |
| Delta Dental of Kentucky Inc | Donations - event | 2024 | $10,000 |
| The Dallas Foundation | General support | 2024 | $6,667 |
| The Us Charitable Gift Trust | For recipient's exempt purpose | 2024 | $6,000 |
2 grants totaling $65.8M in FY2023. All grants made by University of Louisville Foundation Inc →
| Recipient | Purpose | Amount |
|---|---|---|
| University of Louisville | Operational and development support | $58,510,954 |
| Uofl Health-louisville Inc | General support | $7,315,150 |
Explore more
Data for University of Louisville Foundation Inc (EIN 23-7078461) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.