2018-05-14T19:01:52-05:00 2017-06-30 350921680 CROWE HORWATH LLP 9600 Brownsboro Road Suite 400 Louisville KY 402411122 990 2016-07-01 311106941 University of Louisville Athletic Association UNIV 5028527072 Controllers Office Service Complex Louisville KY 40292 Susan I Howarth Asst. Treasurer 2018-05-14 true Rachel Spurlock P00520729 5023263996 2016 2021-01-29 14:40:06Z Gregory C Postel Controllers Office Service Complex Louisville KY 40292 120474923 false X http://www.gocards.com/ X 1984 KY The University of Louisville Athletic Association is organized to support and counsel our student-athletes so they will maximize their potential at U of L and be successful in preparing for their future lives. 25 9 628 200 839776 0 38619206 45371652 45252580 46220707 214777 283230 28862324 28597662 112948887 120473251 18166601 16778467 0 43307046 47486929 0 2992316 44602934 43357649 106076581 107623045 6872306 12850206 280538702 329254638 140564914 175529603 139973788 153725035 Our mission is to support and counsel our student-athletes so they will maximize their potential at U of L and be successful in preparing for their future lives. We will provide leadership for our student-athletes to inspire their achievement of the goals established in this mission statement. U of L's competitive athletics provide an outstanding leadership laboratory, and its high quality classroom instruction provides outstanding educational opportunities. It is our responsibility to assure that our student-athletes benefit from these educational and athletic experiences at U of L. To help accomplish our mission, we provide superior services to our fans and donors, the primary financial resources that support our program. These services result in the best opportunities for our student-athletes to participate in well-supported, competitive programs that bring renewed spirit to our campus, our alumni, and the Louisville community. false false 98349974 16778467 47690350 The University of Louisville Athletic Association (ULAA) enjoyed multiple accomplishments during 2016-2017 in furtherance of its mission. ULAA continues to support the athletic achievements of students by expanding and improving the facilities. During the fiscal year, construction of the $20 million Thornton Academic Center was opened for student athlete dining and Academic Counseling. The second expansion of Papa John's Cardinal Stadium commenced, with completion expected in the Fall of 2018. ULAA continues to invest in the academic achievement and community involvement of the student-athletes. During the 2016-2017 academic year in the ACC, the Association had 351 student athletes included in the ACC Honor Roll. In addition, seven teams - men's basketball (NABC), women's lacrosse (IWLCA), women's cross country (USTFCCCA), women's track and field (USTFCCCA), field hockey (NFHCA), women's tennis (ITA) and volleyball (AVCA) - were recognized by their national associations for academic achievement. Eighteen sports - 10 men's and eight women's - had teams or individuals participating in NCAA postseason competition. That, coupled with 12 programs ending the year in the top 25 in their respective sports, elevated the Cardinal teams to finish 26th in the Learfield Directors' Cup Division I final standing, the highest placement in school history. Baseball set a school record for wins, capping the campaign at 53-12 and the program's fourth College World Series appearance. The Cardinals, who finished the year No. 5 in every major national poll, won their third-straight ACC Atlantic Division Championship. Men's soccer, which finished the year No. 6 in the polls, advanced to the NCAA Championship quarterfinal. Led by All-American and MAC Hermann Trophy semifinalist Tim Kubel, the team went 14-6-2 and placed second in the ACC Atlantic Division. Women's basketball secured a 29-8 overall record, marking the seventh-consecutive season with at least 20 victories. The team earned five victories over AP top-25 opponents and reached the NCAA Sweet 16 for the fifth time in seven years. Football, which won a share of the Atlantic Division regular-season title, rounded out the year ranked in the top 25 for the first time since 2014. The team earned a trip to the Citrus Bowl, the seventh-consecutive season it played in a postseason contest. The men's and women's swimming and diving teams, the women's indoor track and field team, and the men's outdoor track and field team each posted top-25 finishes at their respective NCAA Championships. In terms of individual achievements, it was a historical year. Quarterback Lamar Jackson became the youngest winner of the Heisman Trophy - college football's highest honor. Pitcher/first baseman Brendan McKay, who is the Cardinals' career strikeout leader and a potent cleanup hitter, was named the Golden Spikes Award winner. It is the first time in NCAA history a school has featured both award winners in the same academic year. ACC Swimmer of the Year Mallory Comerford tied for the NCAA Championship in the 200 meter freestyle with Olympic champion Katie Ledecky. The 2016 ACC Scholar-Athlete of the Year for Men's Cross Country, Edwin Kibichiy captured the 3,000m steeplechase title at the NCAA Outdoor Championships. Louisville enjoyed equal success away from the playing surface. Six University of Louisville athletics teams -- men's and women's basketball, football, men's and women's golf and men's tennis - received NCAA Public Recognition Awards for ranking among the top 10 percent nationally in Academic Progress Rate (APR) scores for the most recent four-year period from 2012-16. Finally, UofL student-athletes amassed over 11,000 service hours through its CardsCARE community outreach program during the 2016-17 year, a total which ranked among the top five in the nation in the NCAA Team Works Challenge. 98349974 true true false false false false false false false true true false false false true false true true false false true false false false false false false true true true true false false false false false false false false false false true false false false false true false false false true 346 0 true 628 true true true false false false false false false false false false X 25 9 false false false false false false false true true false false true true true true true true true false false KY X X Walter W Newell 5028527072 Service Complex-Univ of Louisville Louisville KY 40292 Dr James R Ramsey President and Chair (to 7/31/16) 0.5 49.5 X X 0 720245 220322 Neville G Pinto PhD President and Chair (10/26/16 - 1/21/17) 0.5 49.5 X X 0 521839 47014 Gregory C Postel MD President and Chair (from 1/21/17) 0.5 49.5 X X 0 927925 45723 Prof Enid Trucios-Haynes Vice Chair (to 10/20/16) 0.5 49.5 X X 0 178657 32488 Krista B Wallace-Boaz Vice Chair (from 10/21/16) 0.5 49.5 X X 0 76380 20696 Aaron T Vance Secretary 0.5 9.5 X X 0 4556 0 Douglas Hall Treasurer (to 10/26/16) / Director (to 1/12/17) 0.5 0.5 X X 0 0 0 Joseph W Prather II MD Treasurer (10/20/16 - 1/12/17) 0.5 0.5 X X 0 0 0 Harlan M Sands JD Asst. Treasurer (to 1/7/17) 0.5 49.5 X X 0 374449 44973 Susan I Howarth Asst. Treasurer (from 1/20/17) 0.5 49.5 X X 0 227416 34152 Robert E Berson PhD Director 0.5 49.5 X 0 106653 16971 Dale B Billingsley PhD Director (from 8/15/16) 0.5 49.5 X 0 274059 47447 Chip Blankenship Director (to 1/19/17) 0.5 0 X 0 0 0 Ulysses L Bridgeman Jr Director 0.5 0.5 X 0 0 0 Brian A Cromer JD Director (from 4/21/17) 0.5 0.5 X 0 0 0 Prof Carmine Esposito Director 0.5 49.5 X 0 148468 28368 Dawn Heinecken PhD Director 0.5 49.5 X 0 74887 20023 Dennis P Heishman Director 0.5 0 X 0 0 0 Dr Mary Hums Director 0.5 49.5 X 0 95232 22551 A Keith Inman Director 0.5 49.5 X 0 342667 45595 Steve Jones Director 0.5 0 X 0 0 0 Dr Kimberly Kempf-Leonard Director 0.5 49.5 X 0 264026 32400 Amanda Nitzken Director (to 1/19/17) 0.5 0 X 0 0 0 Timothy O'Hern Director 0.5 0 X 0 0 0 Sam Rechter Diector 0.5 0 X 0 0 0 James M Rogers Director (from 4/21/17) 0.5 0.5 X 0 0 0 John H Schnatter Director (from 2/16/17 to 4/21/17) 0.5 X 0 0 0 Prof Lars S Smith Director (from 9/1/16) 0.5 49.5 X 0 158357 34263 William A Stone Director 0.5 0 X 0 0 0 Jessica R Stumbo MD Director 0.5 49.5 X 0 151573 34420 Vickie Lynn Tencer Director 0.5 49.5 X 0 78736 12807 Prof Gerald H Tolson Director 0.5 49.5 X 0 111160 22178 Tirumala Vishnu Director (from 5/15/17) 0.5 0 X 0 0 0 Prof Elaine O Wise Director 0.5 49.5 X 0 98785 22823 Thomas M Jurich Athletic Director 50.0 0 X 5077806 0 143178 Trisha Wolf Smith Asst. Secretary (from 10/20/16) 0.5 49.5 X 0 117664 30018 Leslie C Strohm Legal Counsel 0.5 49.5 X 0 370977 35814 Ronald Kevin Miller Executive Senior Associate Athletic Director 50.0 0 X 264321 0 43003 Richard Pitino Men's Basketball Coach 50.0 0 X 5019454 0 1446275 Robert P Petrino Men's Football Coach 50.0 0 X 4380114 0 43805 Jeff Walz Women's Basketball Coach 50.0 0 X 1938050 0 140624 Jeffrey Todd Grantham Asst. Men's Football Coach 50.0 0 X 1433020 0 43805 Daniel S McDonnell Men's Baseball Coach 50.0 0 X 962820 0 182711 Pamela A Feldhoff PhD Former Vice Chair 50.0 X 0 120197 23878 Kathleen M Smith Former Asst. Secretary 50.0 X 0 141440 30555 19075585 5686348 2948880 67 true true true Messer Construction Co 11001 Plantside Dr Louisville KY 40299 Construction services 11752426 Rosser International Inc 1555 Peachtree St NW Atlanta GA 30309 Architectural Services 1558672 AEG Management Louisville LLC 1 Arena Plaza Louisville KY 40202 Event Management 1190434 Definitive Infotech Services 310 Evergreen Rd Louisville KY 40243 IT services 1150000 Private Jet Services Group LLC 5 Batchelder Rd Seabrook NH 03847 Travel Services 1077109 39 45371652 333292 45371652 Total Sports Revenue 711210 44160037 43320261 839776 Student Athletic Fees and Related 713940 2060670 2060670 0 0 0 0 46220707 284902 284902 27128019 27128019 0 0 0 1672 0 -1672 -1672 -1672 Administrative Support Services 561990 1051442 1051442 Marketing and Development Revenue 711320 380405 380405 Other Operating Revenues 900099 37796 37796 0 0 0 0 1469643 120473251 46850574 839776 27411249 1672954 1672954 15105513 15105513 3793286 3793286 36690587 34167196 1170366 1353025 5182762 4673616 351643 157503 1820294 1600549 175562 44183 176109 55796 85687 34626 48340 38000 10340 6497800 5800042 408260 289498 1254869 1128683 24378 101808 348970 276555 32531 39884 1369959 1312324 19837 37798 2653815 2653815 10385619 10029874 43992 311753 24264 14264 10000 919933 919933 5596511 5596511 1440115 1403493 36622 Athletic event fees and expenses 3509630 3436678 12253 60699 Repairs and maintenance 2852747 2705917 3247 143583 Small equipment purchases and rentals 2960295 2757245 1193 201857 Other licenses and fees 1033355 1032724 378 253 2285318 2006292 83520 195506 107623045 98349974 6280755 2992316 72500 52500 47599594 85026888 5060555 10572948 27355183 27430165 0 0 0 233349230 56673577 165384073 176675653 28391416 27521838 0 0 6675381 1974646 280538702 329254638 19693664 18057919 43319056 37915292 40000000 0 12363428 10737000 25188766 108819392 140564914 175529603 X 139973788 153725035 139973788 153725035 280538702 329254638 12850206 901041 0 X false true X true false X X 1 UNIVERSITY OF LOUISVILLE 611014882 6 true 1672954 0 1 1672954 0 37227142 46665314 36664155 38619206 45371652 204547469 0 0 37227142 46665314 36664155 38619206 45371652 204547469 0 204547469 7606051 7690509 18039320 27519405 27412921 88268206 0 0 0 0 0 0 0 0 0 0 0 0 292815675 233861778 0.6986 0.7416 X true true false false false false false false false false false false false false false true false Schedule A, Part IV, Section A, Line 2 Supported Org. Without IRS Status 509(a)1 or (2) The University of Louisville Athletics Association supports the University of Louisville, a State university exempt under IRC Sec 115. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 23521401 -438004 961564 204137 1320153 286817 22233854 26425519 273323 -2441221 432550 0 303670 23521401 29247622 1392416 -1409266 310986 2153104 341163 26425519 28506150 226407 1583825 136252 607075 325433 29247622 32181351 980365 2279829 0 6567305 368090 28506150 0.9478 0.0522 0.0 true false 5150911 5150911 204876106 53170599 151705507 1299301 840561 458740 3290928 2029099 1261829 18731984 633318 18098666 176675653 Due to University of Louisville Foundation, Inc. 315539 Note Payable to University of Louisville Foundation, Inc. 1000000 Due to University of Louisville 93967466 Note Payable to University of Louisville 13536387 108819392 118850882 901041 -2523410 -1622369 120473251 0 0 120473251 105099635 0 0 105099635 2523410 2523410 107623045 Schedule D, Part V, Line 4 Intended uses of endowment funds The University of Louisville Athletic Association's main endowment investment is the Hickman Camp program, which is unrestricted and undesignated. This program represents approximately 74% of the organization's total endowment investment. In recent years the funds have been used for scholarships. The balance of the endowment investments are intended for athletic scholarships, administrative compensation, and stadium maintenance. Schedule D, Part XI, Line 2(d) Other revenues in audited financial statements not in form 990 Reclassify expenses netted with revenues on financial statements - -2523410 Schedule D, Part XII, Line 4(b) Other expenses in form 990 not in audited financial statements Reclassify expenses netted with revenues on financial statements - 2523410 Europe (Including Iceland and Greenland) 0 0 Program Services STUDENT ATHLETE RECRUITING 28459 Central America and the Caribbean 0 0 Program Services Team Travel 8115 North America (Canada & Mexico only) 0 0 Program Services Student athlete recruiting 1524 South America 0 0 Program Services Student athlete recruiting 1777 East Asia and the Pacific 0 0 Program Services Student athlete recruiting 1473 Europe (Including Iceland and Greenland) 0 0 ,Training 2292 Sub-Saharan Africa 0 0 ,Training 944 Russia and Neighboring States 0 0 Program Services STUDENT ATHLETE RECRUITING 605 0 0 0 0 0 0 45189 0 45189 false false false false false false true UNIVERSITY OF LOUISVILLE SERVICE COMPLEX LOUISVILLE KY 40292 611014882 115 1672954 SUPPORT 1 0 SCHOLARSHIPS 825 15105513 Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. Students are selected and continue to receive assistance based on their ability to contribute to the athletic program of the University of Louisville. All financial aid both athletic and non-athletic is under the control of the university Office of Financial Aid. The Office of Athletic Compliance employs a full-time Compliance Coordinator who works as a liaison with the University Financial Aid Office to monitor all athletic and non-athletic financial aid provided to our student-athletes. This includes monitoring all individual and team NCAA limits, renewals, non-renewal and cancellation of athletic scholarships, the awarding of summer financial aid, and oversees the disbursement of the Student-Assistance fund for eligible student-athletes. X X X X X true true X X X X X true true false false false false false false false Pamela A Feldhoff PhD Former Vice Chair 0 117911 0 0 0 2286 0 11201 0 12677 0 144075 0 0 Dr James R Ramsey President and Chair (to 7/31/16) 0 205514 0 0 0 514731 0 209501 0 10821 0 940567 0 0 Neville G Pinto PhD President and Chair (10/26/16 - 1/21/17) 0 504222 0 0 0 17617 0 26125 0 20889 0 568853 0 0 Gregory C Postel MD President and Chair (from 1/21/17) 0 927342 0 0 0 583 0 29000 0 16723 0 973648 0 0 Prof Enid Trucios-Haynes Vice Chair (to 10/20/16) 0 177883 0 0 0 774 0 16549 0 15939 0 211145 0 0 Harlan M Sands JD Asst. Treasurer (to 1/7/17) 0 352604 0 0 0 21845 0 26500 0 18473 0 419422 0 0 Susan I Howarth Asst. Treasurer (from 1/20/17) 0 214377 0 0 0 13039 0 21632 0 12520 0 261568 0 0 Dale B Billingsley PhD Director (from 8/15/16) 0 271773 0 0 0 2286 0 28031 0 19416 0 321506 0 0 Prof Carmine Esposito Director 0 147280 0 0 0 1188 0 13152 0 15216 0 176836 0 0 A Keith Inman Director 0 323579 0 0 0 19088 0 26500 0 19095 0 388262 0 0 Dr Kimberly Kempf-Leonard Director 0 263252 0 0 0 774 0 19875 0 12525 0 296426 0 0 Prof Lars S Smith Director (from 9/1/16) 0 157895 0 0 0 462 0 16007 0 18256 0 192620 0 0 Jessica R Stumbo MD Director 0 151393 0 0 0 180 0 15931 0 18489 0 185993 0 0 Kathleen M Smith Former Asst. Secretary 0 139916 0 0 0 1524 0 16716 0 13839 0 171995 0 0 Thomas M Jurich Athletic Director 1036038 0 0 0 4041768 0 123723 0 19455 0 5220984 0 674366 0 Leslie C Strohm Legal Counsel 0 357789 0 12000 0 1188 0 19875 0 15939 0 406791 0 0 Ronald Kevin Miller Executive Senior Associate Athletic Director 256035 0 0 0 8286 0 26224 0 16779 0 307324 0 0 0 Richard Pitino Men's Basketball Coach 4177502 0 790000 0 51952 0 1428380 0 17895 0 6465729 0 600000 0 Robert P Petrino Men's Football Coach 3430773 0 917583 0 31758 0 26500 0 17305 0 4423919 0 0 0 Jeff Walz Women's Basketball Coach 1041122 0 890000 0 6928 0 121169 0 19455 0 2078674 0 875000 0 Jeffrey Todd Grantham Asst. Men's Football Coach 1316189 0 110417 0 6414 0 26500 0 17305 0 1476825 0 0 0 Daniel S McDonnell Men's Baseball Coach 831354 0 120000 0 11466 0 165988 0 16723 0 1145531 0 0 0 Schedule J, Part I, Line 1a First-class or charter travel Both the men's football and men's basketball teams travel to away competitions on charter planes. Charter service is submitted for competitive bids for both teams to obtain the price/service. This process is per industry standard for the majority of Division 1 schools. Per the organization's policies, first class airfare cannot be expensed back to the organization. Schedule J, Part I, Line 1a Travel for companions The organization obtains approval from the President's Office for all travel of athletic staff family members to special events such as post-season competitions, holiday tournaments, and other events where spouses are expected to attend for bona fide business purposes. Expenses are covered from unrestricted monies and not part of the Athletic Association's operating budget. Schedule J, Part I, Line 1a Tax indemnification and gross-up payments Thomas Jurich - $1,846,351 tax gross ups on additional insurance premiums and deferred compensation benefits per employment contract. Schedule J, Part I, Line 1a Health or social club dues or initiation fees The organization is authorized to provide country club memberships for the athletic director and some of its coaching staff as part of their respective employment contracts. These benefits are taxed accordingly based on personal vs. business usage. Monthly dues are paid directly by the organization and employees are reimbursed for any business related expenses under the organization's accountable plan on a monthly basis. Schedule J, Part I, Line 1a Personal services Financial planning services are allowed for the Director of Athletics and are capped at a set amount per calendar year. The expenses are paid by the organization and the employee is taxed on the amount of the services provided each year. Schedule J, Part I, Line 4a Severance or change-of-control payment James Ramsey - $507,542 settlement payments from the University of Louisville Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan Jeffrey Walz - $94,669 deferred retention bonuses accrued on Section 457(f) nonqualified deferred compensation arrangements per employment contract. $875,000 retention bonuses vested and paid during 2016. Daniel McDonnell - $139,488 deferred retention bonuses accrued on Section 457(f) nonqualified deferred compensation arrangements per employment contract. No amounts were paid during 2016. Richard Pitino - $1,401,880 deferred retention bonuses accrued on Section 457(f) nonqualified deferred compensation arrangements per employment contract. $600,000 retention bonus vested and paid during 2016. Thomas Jurich - $97,223 reportable deferred retention bonuses accrued during 2016 on Section 457(f) nonqualified deferred compensation arrangements per employment contract. Additionally, the employee vested in a 10-year retirement benefit payable at $160,000 per year beginning at age 60. Other contributions to Section 457(f) deferred compensation plans totaling $235,000 vested and were paid by the organization during 2016 as per the employment contract. James Ramsey - $183,000 deferred compensation payable in 2017 per settlement agreement with University of Louisville. A University of Louisville 611014882 914391R41 2016-12-27 81099955 Retire 2008 Bonds for finance of football stadium expansion false false false A 2185000 0 81384332 0 0 30980902 511804 0 0 9890590 0 40001036 2010 false true true true A false false true true false 0.097 0.0 0.097 false false true A false true false true false false false false false true A true Schedule K, Part II, Line 3 Total Proceeds of Issue TOTAL PROCEEDS OF $88,532,941 LESS INTEREST EARNINGS OF $4,412,153 RECONCILES TO THE ISSUE PRICE OF $84,120,788. Schedule K, Part III, Line 6 Private Business Use Pertains to various naming rights contracts. The average annual yearly private business use percent over the measurement period is 3.06 percent. Schedule K, Part II, Line 4 Gross Proceeds in Reserve Funds Amount includes $3,016,968 of transferred proceeds. Schedule K, Part IV, Line 5b Provider and Term Part IV Lines 5b and 5c - GIC #1 Provider = Natixis Term = 17 Years; GIC #2 = West LB Term = 10 Years Schedule K, Part IV, Line 2c Rebate computation Rebate computation performed as of June 30, 2016, resulting in negative liability totaling <$1,692,787>. X 18 333292 Market value 0 false true false Schedule M, Part I Explanations of reporting method for number of contributions Securities - Publicly traded - CONTRIBUTIONS OF MULTIPLE SHARES OF STOCK Form 990, Part VI, Line 18 TAX RETURN DISCLOSURE COPIES OF THE ORGANIZATION'S MOST RECENT FORMS 990 AND 990-T ARE AVAILABLE UPON REQUEST. Form 990, Part VI, Line 15b OTHER EMPLOYEE COMPENSATION DETERMINATION PROCESS THE PROCESS FOR DETERMINING COMPENSATION OF THE ORGANIZATION'S OFFICERS AND OTHER KEY EMPLOYEES INVOLVED ALL OF THE FOLLOWING ELEMENTS: - DATA GATHERING AND ANALYSIS OF COMPENSATION AT COMPARABLY SIZED ORGANIZATIONS ALONG WITH BENCHMARKING AGAINST OTHER QUALIFIED OFFICIALS IN SIMILARLY SITUATED POSITIONS; - REVIEW AND APPROVAL BY THE ORGANIZATION'S ATHLETIC DIRECTOR AND EXECUTIVE SENIOR ASSOCIATE ATHLETIC DIRECTOR; AND - CONTEMPORANEOUS DOCUMENTATION OF THE COMPENSATION DETERMINATION PROCESS. Form 990, Part VI, Line 11b Review of form 990 by governing body University of Louisville finance personnel and an outside firm prepared the return and a copy of the return was provided to all board members for review prior to filing. Form 990, Part VI, Line 12c Conflict of interest policy If an item is presented to the Board of Directors (or any other policy board) for action, e.g., purchase of property, merging with another entity, buying services, etc., the Board member will disclose his or her possible conflict of interest and must recuse himself or herself from voting. The Board member also avoids participating in any decision or advocating for any decision of the Board. In some circumstances, e.g., when the conflict of the Board member places the Board member in competition with the University, the Board member will leave the board meeting during discussion or update on the action. Before any meeting of the various boards, an agenda is circulated to each member or director with descriptions of the action items. This allows sufficient time for any board member or director to alert the board about a potential conflict of interest. Past practice includes written disclosure by the board member outlining: (1) that a conflict of interest may exist; (2) the nature and extent of the conflict; and (3) the description and potential benefit, direct or indirect, to the member of the board. This information will be supplied to legal counsel and the entire board ahead of the meeting, and a copy of the information will be maintained in the board member's file. Form 990, Part VI, Line 15a Process to establish compensation of top management official The process for determining compensation of the organization's Athletic Director involved all of the following elements: - Data gathering and analysis of compensation at comparably sized organizations along with benchmarking against other qualified officials in similarly situated positions; - Review and approval by an independent Personnel Committee; - Review and approval by the independent Board of Directors of the organization pursuant to feedback from the Personnel Committee; and - Contemporaneous documentation of the compensation determination process by the Personnel Committee and the Board of Directors in each body's respective minutes. Form 990, Part VI, Line 19 Required documents available to the public Copies of the organization's financial statements, articles of incorporation, and conflict of interest policy are available at www.louisville.edu or upon request. Schedule K, Part II, Line 3 Total Proceeds of Issue Total proceeds of $81,384,332 less interest earnings of $284,377 reconciles to the issue price of $81,099,955. Schedule K, Part III, Line 6 Private Business Use Pertains to various naming rights contracts. The average yearly private business use percent over the measurement period is 6.7 percent. Schedule K, Part IV, Line 2c Rebate Computation As of the most recent calculation dated June 30, 2017, the bond has negative rebatable arbitrage totaling ($829,434). UNIVERSITY OF LOUISVILLE UNIVERSITY OF LOUISVILLE LOUISVILLE KY 40292 611014882 EDUCATION KY NA false UNIVERSITY OF LOUISVILLE RESEARCH FOUNDATION INC UNIVERSITY OF LOUISVILLE LOUISVILLE KY 40292 611029626 RESEARCH KY 501(c)(3) 5 UNIVERSITY OF LOUISVILLE false UNIVERSITY OF LOUISVILLE MEDICAL SCHOOL FUND INC UNIVERSITY OF LOUISVILLE LOUISVILLE KY 40292 610888729 EDUCATION KY 501(c)(3) 11 UNIVERSITY OF LOUISVILLE false UNIVERSITY PHYSICIANS GROUP INC 323 EAST CHESTNUT STREET LOUISVILLE KY 402021823 611346817 MEDICAL CARE KY 501(c)(3) 3 UNIVERSITY OF LOUISVILLE false UNIVERSITY OF LOUISVILLE MEDICAL SCHOOL PRACTICE ASSOC 555 SOUTH JACKSON STREET LOUISVILLE KY 40202 611250153 MEDICAL CARE KY 501(c)(3) 7 UNIVERSITY OF LOUISVILLE false false false true false false false false false false false false true true true true true false false