2013-05-15T13:01:20-05:00 2012-06-30 CROWE HORWATH LLP 9600 Brownsboro Road Suite 400 Louisville KY 402411122 990 2011-07-01 237078461 UNIVERSITY OF LOUISVILLE FOUNDATION INC UNIV 5028527072 Controllers Office University of Louisville Louisville KY 40292 DR JAMES R RAMSEY 2013-05-15 true Rachel Spurlock P00520729 5023263996 2011 2016-02-25 16:41:14Z DR JAMES R RAMSEY 2301 South Third Louisville KY 40292 178715439 false X WWW.LOUISVILLEFOUNDATION.ORG X 1970 KY THE ORGANIZATION IS ORGANIZED AND OPERATED FOR THE BENEFIT OF THE UNIVERSITY OF LOUISVILLE. SUBSTANTIALLY ALL OF ITS SUPPORT IS FROM THE GENERAL PUBLIC IN THE FORM OF GIFTS AND ENDOWMENTS. IT MAKES DISBURSEMENTS TO AND FOR THE UNIVERSITY OF LOUISVILLE TO SUPPORT THE UNIVERSITY IN CARRYING OUT ITS EXEMPT PURPOSE. 15 14 6 14 -4196400 -4024161 39727598 55949088 1850828 0 13324395 18848727 2246523 -3990130 57149344 70807685 9284361 15030740 0 0 1743603 1108810 0 0 9223533 72358716 66260156 83386680 82399706 -26237336 -11592021 961073320 921526307 145683468 130154013 815389852 791372294 X THE UNIVERSITY OF LOUISVILLE FOUNDATION (FOUNDATION) EXISTS TO SUPPORT THE ACADEMIC, SCHOLARLY, RESEARCH, AND COMMUNITY ENGAGEMENT ACTIVITIES OF THE UNIVERSITY OF LOUISVILLE (UNIVERSITY) AND TO ASSIST THE UNIVERSITY IN BECOMING A NATIONAL TOP TIER METROPOLITAN RESEARCH UNIVERSITY. (CONTINUED ON SCHEDULE O.) false false 41050558 7382830 180216 RESEARCH AND ACADEMIC PROGRAMS - THE UNIVERSITY OF LOUISVILLE, WITH SUPPORT PROVIDED BY THE UNIVERSITY OF LOUISVILLE FOUNDATION, IS FOCUSED ON ENSURING THE GREAT IDEAS THAT BEGIN IN THE LABORATORY AND THE CLASSROOM BECOME TANGIBLE BENEFITS FOR REAL PEOPLE. RESEARCH SUPPORTED BY THE FOUNDATION: (1) IS THE BASIS FOR INNOVATIVE SOLUTIONS AND PRODUCTS; (2) IMPROVES HEALTH CARE FOR ALL KENTUCKIANS; (3) IMPROVES QUALITY OF LIFE; AND (4) OFFERS STUDENTS FIRSTHAND LEARNING EXPERIENCES FROM OUTSTANDING FACULTY 9023462 7167733 0 STUDENT FINANCIAL AID AND PROGRAMS - THE UNIVERSITY OF LOUISVILLE LEADS THE STATE IN NUMBER OF STUDENTS WHO EARN INTERNATIONALLY COMPETITIVE SCHOLARSHIPS, INCLUDING THE FULBRIGHT SCHOLARSHIP. (CONTINUED ON SCHEDULE O.) 4540532 368673 0 COMMUNITY ENGAGEMENT - THE UNIVERSITY OF LOUISVILLE'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 ACTION (I2A), STUDENT AFFAIRS AND IN EACH ACADEMIC UNIT WILL RESULT IN SIGNIFICANT INCREASES IN OUR COMMUNITY SERVICE PROJECTS AND COMMUNITY-BASED INSTRUCTIONAL AND RESEARCH EFFORTS. THE UNIVERSITY HAS BEEN REPEATEDLY RECOGNIZED FOR VOLUNTEERISM, LEADERSHIP IN SUSTAINABILITY AND AS A "GOOD NEIGHBOR" FOR THE COMMUNITY. 4123527 111504 481081 OTHER PROGRAM SERVICES INCLUDE OPERATIONAL SUPPORT TO THE UNIVERSITY OF LOUISVILLE AND ITS AFFILIATES. 4123527 111504 481081 58738079 true true false true false false true true true true true false true true true false true false false true false true false false false false true true true false false false false false false false false true true false false true true true true true false true X 564 0 true 6 true true true false false false false true true false false false false X 15 14 false false false false false false false true true false false true true true true true true true true true true KY X X Larry Zink 5028527072 University of Louisville Louisville KY 40292 BURT DEUTSCH 0.50 X X 0 0 0 DR JAMES R RAMSEY 10.00 X X 421200 0 217857 EDDY ROBERTS 0.50 X X 0 0 0 J CHESTER PORTER 0.50 X X 0 0 0 JOYCE HAGEN 0.50 X X 0 0 0 CHUCK DENNY 0.50 X 0 0 0 DEBBIE SCOPPECHIO 0.50 X 0 0 0 DR SALEM GEORGE 0.50 X 0 0 0 FRANK WEISBERG 0.50 X 0 0 0 LALIT SARIN 0.50 X 0 0 0 MARGARET HANDMAKER 0.50 X 0 0 0 OWSLEY FRAZIER 0.50 X 0 0 0 SAM RECHTER 0.50 X 0 0 0 WILLIAM SELVIDGE 0.50 X 0 0 0 WILLIAM WILCOX 0.50 X 0 0 0 DR SHIRLEY WILLIHNGANZ 10.00 X 69887 0 150000 KATHLEEN SMITH 10.00 X 34861 0 125816 MICHAEL J CURTIN 10.00 X 52234 0 36955 THOMAS JURICH 10.00 X 255915 0 0 VICKIE YATES BROWN 49.50 X 299398 0 35831 1133495 0 566459 5 false true false CAMBRIDGE ASSOCIATES 125 HIGH STREET BOSTON MA 02110 INVESTMENT ADVICE 1277083 PERITUS PUBLIC RELATIONS LLC 200 S FIFTH ST STE 503 NORTH LOUISVILLE KY 40202 CONSULTING 621395 STITES AND HARBISON 400 WEST MARKERT STREET SUITE 1800 LOUISVILLE KY 40202 LEGAL SERVICES 295232 UNIVERSITY PHYSICIANS GROUP INC 323 E CHESTNUT ST LOUISVILLE KY 40202 MEDICAL 225000 GLOBAL ACADEMY FOR MEDICAL EDUCATION 5635 FISHERS LANE SUITE 6000 ROCKVILLE MD 20852 EDUCATION PROGRAM DEVELOPMENT 193500 5 210000 55739088 4066362 55949088 0 0 0 0 0 10187567 -378592 10566159 0 82964 82964 2154833 7367405 -5212572 0 -5212572 -4295989 -916583 109201509 0 100514273 26076 8687236 -26076 8661160 8661160 0 0 0 PROFESSIONAL FEES AND SERVICES 611710 590676 112495 478181 ADMINISTRATIVE FEES 561110 481081 481081 MISCELLANEOUS 900099 67721 67721 0 0 0 0 1139478 70807685 661297 -4196400 18393700 5873504 5873504 8997236 8997236 160000 160000 0 1108810 1108810 0 0 0 0 0 0 215115 73734 139936 1445 48995 48995 210925 210925 0 1803573 1803573 47142192 31503446 6987972 8650774 2837543 1443826 1236054 157663 1272101 671744 470717 129640 1162650 705191 439300 18159 0 1627647 983001 631250 13396 2819925 2235157 447258 137510 0 920325 628445 264589 27291 115803 115803 0 1842420 1842420 65679 27840 37798 41 LABORATORY AND RESEARCH SUPPORT 2150911 1830561 317871 2479 SMALL EQUIPMENT 1239871 1125462 109528 4881 INSTRUCTIONAL AND TRAINING 332547 323569 8042 936 OTHER FEES 109090 101156 7905 29 342844 95984 167571 79289 82399706 58738079 14438094 9223533 0 3180 3439 11689049 15250072 36061441 29173411 1478769 2438168 1705062 1715378 164883 190183 112820673 19575912 78544414 93244761 160977501 169972601 595824294 559459267 0 0 74624727 50079027 961073320 921526307 2542595 3085631 5046896 7039239 27727738 36400502 47358955 46398684 63007284 37229957 145683468 130154013 X 179916539 172394669 248789521 225418077 386683792 393559548 815389852 791372294 961073320 921526307 X -11592021 -12425537 X false true true X false X 36221999 48889250 49458052 39727598 55949088 230245987 0 0 36221999 48889250 49458052 39727598 55949088 230245987 19582767 210663220 13902639 11925294 9374530 9255259 12425364 56883086 0 0 0 0 0 0 0 0 0 0 0 0 287129073 0.73360 0.81160 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false true false false false false true 210925 false false 210925 false Description of the activities reported on Lines 1a through 1i Schedule C, Part II-B, Line 1 THE ORGANIZATION INCURRED EXPENSES RELATING TO MEETING WITH LESIGLATORS, POLICY MAKERS, AND LEGISLATIVE STAFF. THESE CONTACTS ENTAILED EMPLOYING THE SERVICES OF OUTSIDE LOBBYISTS AS WELL AS USING INTERNAL STAFF TO PREPARE TALKING POINTS AND OTHER COMMUNICATIONS TO LEGISLATORS AND POLICY MAKERS AS WELL AS ENLISTING PUBLIC SUPPORT FOR THE UNIVERSITY'S POSITION ON ISSUES. 0 2032148 X X false false true 739226249 12102614 -22742518 6729819 21996263 7394299 692465964 644498300 13677690 70964906 6222255 -21353653 5046045 739226249 599240855 7657597 78595177 6179520 27742512 7073297 644498300 741052668 8982106 -116223892 6075646 22767748 5726633 599240855 0.24670 0.74380 0.00950 true false 37809007 37809007 32005405 6603357 25402048 0 14449868 9667978 4781890 28556393 3304577 25251816 93244761 0 0 MARKETABLE ALTERNATIVES 138107698 F INVESTMENT IN PARTNERSHIPS 414418096 F MISC INVESTMENTS 2138533 C INVESTMENT IN PARTNERSHIP - EQUITY METHOD 4794940 F 559459267 OTHER ASSETS 902283 FUNDS HELD BY OTHERS 43690139 INTERCOMPANY RECEIVABLES 5486605 50079027 0 DUE TO UNIVERSITY OF LOUISVILLE 17477099 DEPOSITS 26034 LONG TERM LIABILITY 19726824 37229957 Collections of art - description of collections Schedule D, Part III, Line 4 HISTORICAL COLLECTIONS INCLUDE RARE MATERIALS, SCULPTURES AND OTHER PIECES OF ART AND RARE BOOKS. Explanation of escrow agreement Schedule D, Part IV, Line 2b THE ORGANIZATION IS THE CUSTODIAN OF FUNDS OWNED BY THE UNIVERSITY OF LOUISVILLE ATHLETICS ASSOCIATION (THE ASSOCIATION). THE ASSOCIATION IS A SEPARATE CORPORATION ORGANIZED FOR THE PURPOSE OF PROMOTING THE INTERCOLLEGIATE ATHLETIC ACTIVITIES OF THE UNIVERSITY OF LOUISVILLE. THE ORGANIZATION SERVES IN AN AGENCY CAPACITY AND INVESTS FUNDS ON BEHALF OF THE ASSOCIATION BASED ON A FORMAL TRUST AGREEMENT. AS OF JUNE 30, 2012, THE ORGANIZATION HELD APPROXIMATELY $36.8 MILLION FOR THE ASSOCIATION'S INVESTMENT PURPOSES. DURING THE YEAR ENDED JUNE 30, 2005, THE ORGANIZATION ENTERED INTO AN AGREEMENT WITH JEWISH HOSPITAL & ST. MARY'S HEALTHCARE, INC. (JEWISH HOSPITAL) WHEREBY THE FOUNDATION SERVES IN AN AGENCY CAPACITY TO INVEST FUNDS ON BEHALF OF JEWISH HOSPITAL. JEWISH HOSPITAL IS A SEPARATE CORPORATION ORGANIZED FOR THE PURPOSE OF PROVIDING HEALTHCARE SERVICES. AS OF JUNE 30, 2012, THE ORGANIZATION HELD APPROXIMATELY $9.4 MILLION FOR JEWISH HOSPITAL'S INVESTMENT PURPOSES. DURING THE YEAR ENDED JUNE 30, 2011, THE ORGANIZATION WAS THE RECIPIENT OF ENDOWED FUNDS, THE INCOME OF WHICH SHALL BE USED IN SUPPORT OF THE LOUISVILLE ORCHESTRA. AS OF JUNE 30, 2012, THE ORGANIZATION HELD APPROXIMATELY $0.2 MILLION FOR THE BENEFIT OF THE LOUISVILLE ORCHESTRA. THE ORGANIZATION, ACTING IN AN AGENT CAPACITY, DOES NOT REFLECT EARNINGS ON INVESTMENTS HELD IN TRUST FOR OTHERS IN ITS REVENUES AS THESE EARNINGS ARE DISTRIBUTED TO THE OWNERS OF THE FUNDS. Intended uses of endowment funds Schedule D, Part V, Line 4 THE INTENDED USE OF THE UNIVERSITY OF LOUISVILLE FOUNDATION INC'S ENDOWMENTS FALL INTO 8 CATEGORIES: INSTRUCTION, RESEARCH, PUBLIC SERVICE, ACADEMIC SUPPORT, STUDENT SERVICES, INSTITUTIONAL SUPPORT, MAINTENANCE AND OPERATION OF PHYSICAL PLANT, AND STUDENT FINANCIAL AID. THE GREATEST AMOUNT OF FUNDS PROVIDED FOR SPENDING ARE FOR RESEARCH AND STUDENT FINANCIAL AID. FIN 48 (ASC 740) footnote Schedule D, Part X, Line 2 THE FOUNDATION IS SUBJECT TO FEDERAL INCOME TAX ON ANY UNRELATED BUSINESS TAXABLE INCOME. THE FOUNDATION FILES TAX RETURNS IN THE U.S. FEDERAL JURISDICTION. WITH A FEW EXCEPTIONS, THE FOUNDATION IS NO LONGER SUBJECT TO U.S. FEDERAL EXAMINATION BY TAX AUTHORITIES PRIOR TO FISCAL YEAR 2009. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 126377882 0 0 126377882 GRAWEMEYER AWARDS NORTH AMERICA (CANADA & MEXICO ONLY) 1 40000 WIRE TRANSFER GRAWEMEYER AWARDS EUROPE (INCLUDING ICELAND AND GREENLAND) 3 80000 WIRE TRANSFER GRAWEMEYER AWARDS EAST ASIA AND THE PACIFIC 1 40000 WIRE TRANSFER true false true true true false true AMERICAN HEART ASSOCIATION 5455 N HIGH ST COLUMBUS OH 43214 135613797 501(C)(3) 85000 GENERAL SUPPORT NATIONAL MERIT SCHOLARSHIP CORPORATION 1560 SHERMAN AVENUE EVANSTON IL 60201 362307745 501(C)(3) 23250 SCHOLARSHIPS MARCH OF DIMES 4802 SHERBURN LANE LOUISVILLE KY 40207 131846366 501(C)(3) 16667 GENERAL SUPPORT BELLARMINE UNIVERSITY 2001 NEWBURG ROAD LOUISVILLE KY 40205 610482955 501(C)(3) 9500 SCHOLARSHIPS KENTUCKIANA METROVERSITY INC 200 W BROADWAY LOUISVILLE KY 40202 610727902 501(C)(3) 6500 AWARD UNIVERSITY OF LOUISVILLE BELKNAP CAMPUS SERVICE COMPLEX LOUISVILLE KY 40292 611014882 501(C)(1) 5732587 GENERAL SUPPORT 6 0 GRAWEMEYER AWARDS 23 620000 0 SCHOLARSHIPS 1734 8377236 0 Procedures for monitoring use of grant funds Schedule I, Part I, Line 2 THE UNIVERSITY OF LOUISVILLE FOUNDATION PARTICIPATES IN COST SHARING WITH GRANTS BY TRANSFERRING CERTAIN EXPENSES, USUALLY SALARY AND USUALLY WITH RESEARCH GRANTS. THE FOUNDATION'S RESPONSIBILITY IS TO VERIFY THAT THE COST SHARE EXPENSE IS ALLOWABLE BY THE ENDOWMENT OR GIFT PROGRAM AND THAT THE ENDOWMENT OR GIFT PROGRAM HAS SUFFICIENT FUNDS TO COVER THE TRANSFER. SPONSORED PROGRAMS IS THE AREA RESPONSIBLE FOR MONITORING THE USE OF GRANT FUNDS AND ALL GOVERNMENT REPORTING. PART III SCHEDULE I, PART III THE GRAWEMEYER AWARDS ARE AMONG THE WORLD'S MOST PRESTIGIOUS AWARDS PRESENTED TO INDIVIDUALS IN THE FIELDS OF EDUCATION, IDEAS IMPROVING WORLD ORDER, MUSIC COMPOSITION, RELIGION AND PSYCHOLOGY. H. CHARLES GRAWEMEYER CREATED THE AWARDS IN 1984 WITH AN INITIAL ENDOWMENT OF $9 MILLION AND SINCE THEN IT HAS DRAWN THOUSANDS OF NOMINATIONS FROM AROUND THE WORLD. GRAWEMEYER DISTINGUISHED THE AWARDS BY HONORING IDEAS RATHER THAN LIFE-LONG ACHIEVEMENTS. X X true true X X X X false true false false false false false false false DR JAMES R RAMSEY 137796 0 171995 0 111409 0 217857 0 0 0 639057 0 0 0 DR SHIRLEY WILLIHNGANZ 45646 0 0 0 24241 0 150000 0 0 0 219887 0 0 0 KATHLEEN SMITH 34623 0 0 0 238 0 123710 0 2106 0 160677 0 0 0 THOMAS JURICH 255915 0 0 0 0 0 0 0 0 0 255915 0 0 0 VICKIE YATES BROWN 298624 0 0 0 774 0 24500 0 11331 0 335229 0 0 0 Tax indemnification and gross-up payments Schedule J, Part I, Line 1a AS PER HIS EMPLOYMENT CONTRACT, DR. JAMES RAMSEY IS PROVIDED TAX GROSS-UPS RELATING TO PREMIUMS PAID BY THE ORGANIZATION FOR A LONG-TERM CARE INSURANCE BENEFIT AND A SUPPLEMENTAL DISABILITY INSURANCE BENEFIT. KATHLEEN SMITH IS PROVIDED TAX GROSS-UP PAYMENTS RELATING TO A SECTION 457(F) NONQUALIFIED DEFERRED COMPENSATION PLAN. THE GROSS-UPS ARE CALCULATED AND BECOME PAYABLE WHENEVER AMOUNTS CONTRIBUTED UNDER THE PLAN ARE VESTED AND PAYABLE. Health or social club dues or initiation fees Schedule J, Part I, Line 1a COUNTRY CLUB DUES ARE PAID ON BEHALF OF DR. JAMES RAMSEY. MEMBERSHIP IS PRIMARILY USED TO CONDUCT THE BUSINESS OF THE ORGANIZATION. LOGS ARE REQUIRED TO DETERMINE TAXABLE COMPENSATION FROM COUNTRY CLUB DUES IN THE EVENT THAT ANY OF THE USE IS PERSONAL. Supplemental nonqualified retirement plan Schedule J, Part I, Line 4b THE FOLLOWING AMOUNTS RELATING TO A SECTION 457(F) NONQUALIFIED DEFERRED COMPENSATION PLAN WERE ACCRUED BY THE ORGANIZATION DURING THE YEAR: DR. JAMES RAMSEY - $75,000 DR. SHIRLEY WILLIHNGANZ - $150,000 KATHLEEN SMITH - $120,362 IN ADDITION, $142,857 INCENTIVE COMPENSATION WAS ACCRUED BY THE ORGANIZATION FOR DR. JAMES RAMSEY DURING THE YEAR AND WAS PAYABLE BEGINNING IN CALENDAR YEAR 2012. BONUS & INCENTIVE COMPENSATION SCHEDULE J, PART II, COLUMN (B)(II) DR. JAMES RAMSEY IS ELIGIBLE TO RECEIVE AN ANNUAL BONUS OF UP TO 25% OF HIS UNIVERSITY OF LOUISVILLE AND UNIVERSITY OF LOUISVILLE FOUNDATION SALARIES. ALTHOUGH DR. RAMSEY WAS AWARDED THIS BONUS IN 2011 AND IT WAS INCLUDED IN HIS TAXABLE INCOME, THE BONUS WAS DONATED BACK TO THE UNIVERSITY BY DR. RAMSEY. X 5 35937 MARKET VALUE X 102992 MARKET VALUE X 9788 MARKET VALUE X 147 2050794 MARKET VALUE X 2 550000 MARKET VALUE X 10 19230 MARKET VALUE X 28 25936 MARKET VALUE X OTHER EQUIPMENT 10 496844 MARKET VALUE X FURNITURE 1 1750 MARKET VALUE X GIFT CERTIFICATES 16 3706 MARKET VALUE X OTHER PROPERTY 17 34294 MARKET VALUE X COMPUTERS AND TECHNICAL EQUIPMENT 7 719891 MARKET VALUE X MUSICAL INSTRUMENTS 4 15200 MARKET VALUE 0 false true true COLUMN (B) NUMBER CONTRIBUTIONS SCHEDULE M, PART I ALL AMOUNTS IN COLUMN (B) REFLECT NUMBER OF CONTRIBUTIONS RATHER THAN NUMBER OF INDIVIDUAL ITEMS DONATED. Third parties used to solicit, process, or sell noncash contributions Schedule M, Part I, Line 32b ON OCCASION THE FOUNDATION USES REALTORS TO SELL REAL PROPERTY AND ART DEALERS TO SELL ARTWORK. Number of contributions or items contributed. Schedule M, part I, column (b), Line 1 Number of contributions or items contributed. Schedule M, part I, column (b), Line other=OTHER EQUIPMENT Number of contributions or items contributed. Schedule M, part I, column (b), Line 19 ORGANIZATION'S MISSION FORM 990, PART III, LINE 1 SINCE ITS INCEPTION IN 1970, THE FOUNDATION HAS SUPPORTED THE EFFORTS OF THE UNIVERSITY TO ATTRACT OUTSTANDING STUDENTS IN THE REGION (AVERAGE ACT SCORE OF ENTERING FRESHMEN IS 25) AND TO BRING THE WORLD'S TOP SCHOLARS AND SCIENTISTS TO KENTUCKY (ENDOWED CHAIRS AND PROFESSORSHIPS NUMBER 150). ALTHOUGH STATE BUDGET CUTS ARE CHALLENGING, THE UNIVERSITY REMAINS A LEADER AMONG COLLEGES AND UNIVERSITIES IN KENTUCKY. THIS YEAR THE FOUNDATION CONTRIBUTED $141,835,700 FOR SCHOLARSHIP PROGRAMS, RESEARCH INITIATIVES, AND CAPITAL PROJECTS WHILE STATE NET APPROPRIATION DIPPED TO $141,194,758. INVESTMENT IN THE UNIVERSITY IS INCREASINGLY CRITICAL AS STATE SUPPORT FOR HIGHER EDUCATION CONTINUES TO DECLINE. THE UNIVERSITY LEADS THE STATE WITH A RECORD NUMBER 36 FULBRIGHT AWARDS OVER THE PAST THREE YEARS, OUTPACING SCHOOLS LIKE MIT, DARTMOUTH, WAKE FOREST AND MANY OTHERS. THE FOUNDATION FUNDS THE SCHOLARS PROGRAM TO ENHANCE STUDENTS' OPPORTUNITY FOR THESE SPECIAL RECOGNITIONS. THE UNIVERSITY SECURED OVER $196 MILLION IN TOTAL GRANTS AND CONTRACTS, WHICH SUPPORTED ENDOWED CHAIRS, DISTINGUISHED SCHOLARS, FACULTY INVESTIGATORS, RESEARCH-ENGAGED STUDENTS, AND TECHNICAL STAFF. THE FOUNDATION PROVIDES FUNDING TO RECRUIT SCHOLARS, OUTSTANDING STUDENTS, FACULTY, AND ADMINISTRATORS TO LEAD THIS SUCCESSFUL RESEARCH PROGRAM. PARTNERING WITH NTS ON THE SHELBYHURST OFFICE AND RESEARCH PARK TO BUILD THE FIRST LEED CLASS A OFFICE BUILDING IN THE STATE OF KENTUCKY, AND DURING THE WORST ECONOMIC CLIMATE SINCE THE 1930S, THE FOUNDATION HAS ACHIEVED 100% OCCUPANCY IN 600 NORTH AND HAS BEGUN CONSTRUCTION OF ITS SECOND OFFICE BUILDING AT SHELBYHURST. THE UNIVERSITY'S NUCLEUS: KENTUCKY'S LIFE SCIENCES AND INNOVATION CENTER HAS NEARLY COMPLETED THE INITIAL BUILDING ON ITS LIFE SCIENCES RESEARCH PARK. THE RESEARCH PARK, OWNED BY THE FOUNDATION, IS LOCATED IN DOWNTOWN LOUISVILLE. ONCE COMPLETE, THE PARK WILL CONSIST OF FOUR BUILDINGS AND IS PROJECTED TO CREATE 8,700 JOBS. NUCLEUS HOUSES THE INTERNATIONAL CENTER FOR LONG TERM CARE INNOVATION WHICH SERVES AS A CATALYST FOR UOFL'S WORLDWIDE AGING CARE RESEARCH INITIATIVE. CARDINAL SPORTS FANS WITNESSED A BCS SUGAR BOWL VICTORY OVER FLORIDA IN FOOTBALL AND THE APPEARANCE OF CARDINAL MEN'S BASKETBALL IN THE FINAL FOUR IN NEW ORLEANS. THE FOUNDATION CONTINUES TO SUPPORT THE CREATION OF OUTSTANDING FACILITIES TO ATTRACT THE VERY BEST STUDENT-ATHLETE AND COACHING TALENT TO THE UNIVERSITY. THE UNIVERSITY, IN PARTNERSHIP WITH THE FOUNDATION, LAUNCHED ITS "CHARTING OUR COURSE" CAPITAL CAMPAIGN TO RAISE AN UNPRECEDENTED $1 BILLION IN PRIVATE SUPPORT BY 2014. FUNDS GENERATED BY THIS BOLD EFFORT WILL BE MANAGED BY THE FOUNDATION TO MAXIMIZE RETURN ON INVESTMENT AND TO INSURE 1) THE UNIVERSITY REMAINS A CATALYST FOR ECONOMIC GROWTH, 2) FAMILIES OF KENTUCKY HAVE ACCESS TO QUALITY HIGHER EDUCATION, 3) THE UNIVERSITY CONTINUES TO ATTRACT EXCELLENT FACULTY, AND 4) UNIVERSITY RESEARCHERS HAVE THE NECESSARY RESOURCES TO TRANSLATE NEW KNOWLEDGE INTO REAL-WORLD SOLUTIONS. FOR MORE INFORMATION, THE FOUNDATION'S ANNUAL REPORT IS LISTED AT WWW.LOUISVILLEFOUNDATION.ORG. PROGRAM SERVICE ACCOMPLISHMENTS FORM 990, PART III, LINE 4B THIS PRESTIGOUS, INTERNATIONAL EXCHANGE PROGRAM AFFORDS THE BRIGHTEST SCHOLARS AN OPPORTUNITY TO STUDY AND TEACH IN OTHER COUNTRIES. WITH THE GOAL OF BOOSTING ACADEMIC DIALOGUE BETWEEN THE UNITED STATES AND OTHER COUNTRIES, FULBRIGHT SCHOLARS ARE LEADERS AMONG THEIR PEERS. SINCE 2000, UNIVERSITY OF LOUISVILLE STUDENTS AND ALUMNI HAVE RECEIVED MORE THAN 60 FULBRIGHT AWARDS, MORE THAN ANY UNIVERSITY IN KENTUCKY. OUR STUDENT SERVICES ARE NATIONALLY RECOGNIZED, ESPECIALLY OUR RESOURCES FOR ACADEMIC ACHIEVEMENT (REACH) PROGRAM. REACH WAS DISTINGUISHED AS A MASTER TUTOR PROGRAM BY THE ASSOCIATION FOR THE TUTORING PROFESSION, RECEIVING THE ASSOCIATION'S 2009 "PROGRAM OF EXCELLENCE" AWARD. REACH CONTINUES TO RECEIVE ACCOLADES FOR HELPING STUDENTS SUCCEED DURING THEIR FIRST TWO YEARS OF COLLEGE WHEN THE LIKELIHOOD OF DROPPING OUT IS THE HIGHEST. THE UNIVERSITY OF LOUISVILLE HAS PRODUCED 40 PERCENT MORE GRADUATES THAN IT DID IN 1998 WHILE ATTRACTING AND RETAINING HIGH QUALITY STUDENTS. IN FACT, THE AVERAGE ACT SCORE OF THE UNIVERSITY'S INCOMING FRESHMAN OUTPACES THE AVERAGE FOR OTHER KENTUCKY COLLEGES. EMPLOYMENT TAX RETURNS FORM 990, PART V, LINE 2B THE ORGANIZATION'S COMMON PAYMASTER, THE UNIVERSITY OF LOUISVILLE, FILES ALL REQUIRED FEDERAL EMPLOYMENT TAX RETURNS ON BEHALF OF THE ORGANIZATION. Delegate broad authority to a committee Form 990, Part VI, Section A, Line 1a THE EXECUTIVE COMMITTEE CONSISTS OF FIVE INDIVIDUALS ALL OF WHOM ARE DIRECTORS OF THE UNIVERSITY OF LOUISVILLE FOUNDATION, INC. THE EXECUTIVE COMMITTEE MAY HAVE AND MAY EXERCISE ALL OF THE AUTHORITY OF THE BOARD, BUT MAY NOT HAVE THE AUTHORITY OF THE BOARD IN REFERENCE TO AMENDING, ALTERING, OR REPEALING THE ORGANIZATION'S BY-LAWS; ELECTING, ALTERING OR REMOVING ANY MEMBER OF THE EXECUTIVE COMMITTEE ITSELF NOR ANY DIRECTOR OR OFFICER OF THE ORGANIZATION; AMENDING OR RESTATING THE ARTICLES OF INCORPORATION; ADOPTING A PLAN OF MERGER, OR ADOPTING A PLAN OF CONSOLIDATION, WITH ANOTHER CORPORATION; AUTHORIZING THE SALE, LEASE, EXCHANGE OR MORTGAGE OF SUBSTANTIALLY ALL OF THE PROPERTY AND ASSETS OF THE ORGANIZATION; AUTHORIZING THE VOLUNTARY DISSOLUTION OF THE ORGANIZATION OR REVOKING PROCEEDINGS THEREFOR; ADOPTING A PLAN FOR THE DISTRIBUTION OF THE ASSETS OF THE ORGANIZATION OR AMENDING, ALTERING, OR REPEALING ANY RESOLUTION OF THE BOARD WHICH BY ITS TERMS PROVIDES THAT IT SHALL NOT BE AMENDED, ALTERED OR REPEALED BY SUCH COMMITTEE; OR DOING ANY OTHER ACT FORBIDDEN BY LAW OR BY THE ARTICLES OF INCORPORATION. Review of form 990 by governing body Form 990, Part VI, Section B, Line 11b UNIVERSITY OF LOUISVILLE FINANCE PERSONNEL AND AN OUTSIDE FIRM PREPARED THE RETURN. A COPY OF THE RETURN WAS PROVIDED TO THE BOARD OF DIRECTORS FOR REVIEW PRIOR TO FILING. Conflict of interest policy Form 990, Part VI, Section B, Line 12c 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. Process used to establish compensation of top management official Form 990, Part VI, Section B, Line 15a THE PROCESS FOR DETERMINING COMPENSATION OF THE ORGANIZATION'S TOP MANAGEMENT OFFICIAL 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. THE ABOVE PROCESS WAS USED IN 2011. Process used to establish compensation of other officers/key employees Form 990, Part VI, Section B, Line 15b THE PROCESS FOR DETERMINING COMPENSATION OF AN OFFICER OF THE ORGANIZATION 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. THE ABOVE PROCESS WAS USED IN 2011 TO DETERMINE COMPENSATION OF THE ORGANIZATION'S ASSISTANT SECRETARY. Governing documents, conflict of interest policy and financial statements available to the public Form 990, Part VI, Section C, Line 19 THE ORGANIZATION'S FINANCIAL STATEMENTS, FORMS 990, CONFLICT OF INTEREST POLICY, JOINT VENTURE POLICY, NON-RETALIATION POLICY, DOCUMENT INTEGRITY POLICY, AND WHISTLEBLOWER POLICY ARE AVAILABLE AT WWW.LOUISVILLEFOUNDATION.ORG. ALL GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST. Other changes in net assets or fund balances Form 990, Part XI, Line 5 NET UNREALIZED GAINS (LOSSES) ON INVESTMENTS - -14576046; PRIOR PERIOD ADJUSTMENT - INCLUDE UNITRUST BALANCES - 2150509; REPORTABLE COMPENSATION PART VII AND SCHEDULE J AMOUNTS REPORTED ON PART VII AND ON SCHEDULE J INCLUDE COMPENSATION PAID BY THE FILING ENTITY ONLY AND DO NOT INCLUDE COMPENSATION PAID BY THE UNIVERSITY OF LOUISVILLE, WHICH IS NOT A CONTROLLING ENTITY AND IS UNRELATED TO THE FILING ORGANIZATION FOR FORM 990 REPORTING PURPOSES. 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