2026-05-15T01:35:57+00:00 2025-06-30 350921680 CROWE LLP 4801 Olympia Park Plaza Suite 4000 Louisville KY 402412098 990 2024-07-01 611029626 University of Louisville Research Foundation UNIV 5028526164 2215 S Brook Street Louisville KY 402082772 RICK GRAYCAREK VICE PRESIDENT 2026-05-15 true true Rachel Spurlock P00520729 5023263996 2026-05-15 2024 2025-03-06 01:10:19Z Dr Thomas Gerard Bradley 2215 S Brook Street Louisville KY 402082772 660947824 false X N/A X 1984 KY 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. 13 10 0 12 0 238444007 175453223 405992716 477573437 -269420 -114424 6880081 6358737 651047384 659270973 74142916 13996623 0 0 0 0 560875104 687640302 635018020 701636925 16029364 -42365952 966604917 914797601 700277696 694459248 266327221 220338353 X 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. false false 506067405 7300 473176276 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 132 new providers and 5 new locations to serve the local community and the Commonwealth; - Treatment provided in over 2.5 million separate patient visits; and - Added more than 118,500 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. 162360028 0 4324603 The University of Louisville Research Foundation (ULRF) continued its mission of conducting groundbreaking research in the 2024-2025 fiscal year, securing over $170 million to drive innovation and address critical societal challenges. This significant investment, comprising 857 separate awards, fuels essential research across key areas, including health, workforce development, engineering, and climate resilience. Federal agencies recognized ULRF's leadership with $91 million in direct funding, complemented by $27.2 million in federal flowthrough. Robust support from the Commonwealth of Kentucky ($32 million), industry partners ($12 million), and non-profits ($6.7 million) further underscores the diverse collaborations fueling ULRF's research engine. Transforming Clinical Care: A landmark $11.7 million grant from the National Institutes of Health (NIH) is powering the launch of the Louisville Clinical and Translational Research Center (LCTRC). This statewide initiative is designed to transform the University's clinical research infrastructure, accelerating the transition of laboratory findings into meaningful medical solutions for chronic conditions-such as heart disease, stroke, and cancer-that disproportionately affect both urban and rural Kentuckians. Advancing Industrial Innovation and Decarbonization: Demonstrating a commitment to sustainable engineering, UofL's Additive Manufacturing Institute for Science and Technology secured $1.57 million from the U.S. Department of Energy (DOE). This project focuses on decarbonizing industrial aluminum processing through the development of additive-manufactured electrical furnaces, positioning the University at the forefront of green manufacturing technology. Strengthening State Infrastructure and Education: ULRF is actively engaged in improving the Commonwealth's future through several key initiatives. This includes the establishment of the Statewide Reading and Research Center (Kentucky Department of Education) and a comprehensive Research and Development Work Program with the Kentucky Transportation Cabinet (KYTC) for the 2025-2026 period, ensuring data-driven improvements to state literacy and infrastructure. Leading Climate Resilience and Environmental Stewardship: Through the CLIMBS project (supported by the NSF), ULRF is leveraging multidisciplinary big data to build prediction and response systems for climate resilience. Additionally, the University is leading the design and monitoring of the Harrison Fork (Bernheim Forest) Watershed Project, protecting vital natural resources in Nelson County, KY. Additional Notable Awards: The fiscal year also saw significant funding for the Healthcare Workforce Investment Fund Partnership (KYHEAA) to bolster the medical talent pipeline, and continued investment in high-impact research across the social and physical sciences. These accomplishments underscore the University of Louisville Research Foundation's commitment to impactful research that advances knowledge, improves lives, and strengthens our community, the Commonwealth, and the nation. 13989323 13989323 0 The University of Louisville Research Foundation provides funding for student scholarships at the University of Louisville. During the fiscal year, the organization provided $14 million in funds to approximately 2,500 students attending the University. 4781775 0 5776653 The University of Louisville Research Foundation provides multiple opportunities for conferences, training, and continuing education activities for medical and other professionals established in their fields. 4781775 5776653 687198531 true true false true false false false false false false true false false true true false true true false false false false false false false false false false true true false false false false false false false false false false false false false false false true false false false false true X 399 0 true 0 false false false false false false false false false false false false X 13 10 false false false false false false false true true false false false true true true true true true false false false false KY X Michelle Comer 5028526164 Controllers Office Univ of Louisv Louisville KY 40292 Brian F Lavin Treasurer from 4/17/25 0.5 0 X X 0 0 0 Christopher Dischinger Secretary 0.5 0.5 X X 0 0 0 Diane B Medley Treasurer to 4/15/25 0.5 0 X X 0 0 0 Diane Porter Vice Chair 0.5 0 X X 0 0 0 Laurence Benz Chair 0.5 0.5 X X 0 0 0 Alfonso Cornish Director 0.5 0 X 0 0 0 Allie Rose Phillips Director 0.5 5.5 X 0 9750 0 Dr Raymond Burse Director to 4/15/25 0.5 0.5 X 0 0 0 Eugene G Mueller Director 0.5 49.5 X 0 149912 31121 Jerry Abramson Director 0.5 0 X 0 0 0 John Hollenbach Director from 4/17/25 0.5 0 X 0 0 0 Kevin Ledford Director 0.5 49.5 X 0 84424 25030 Larry Hayes Director from 4/25/24 0.5 0 X 0 0 0 Sadiqu Reynolds Director from 4/17/25 0.5 0 X 0 0 0 Sherrill Zimmerman Director 0.5 0.5 X 0 0 0 C Aaron LeMay Vice President from 3/1/25 0.5 49.5 X 0 0 0 Charles Perusse Vice President to 2/28/25 0.5 49.5 X 0 0 0 Dr Kathryn Cardarelli Vice Pres from 3/27/25 0.5 49.5 X 0 318353 14668 Dr Kim Schatzel President to 3/26/25 0.5 49.5 X 0 947939 299255 Dr Thomas Gerard Bradley Vice Pres to Pres eff 3/27/25 0.5 49.5 X 0 657196 61427 Jon B Klein MD PhD Vice President from 2/13/24 0.5 49.5 X 0 490456 41168 Kyle J Beamer Assistant Secretary 0.5 49.5 X 0 88200 25346 Daniel A Durbin Former Vice President 50.0 X 0 526076 61496 Dr Beth Boehm Former Vice President 50.0 X 0 280414 50879 Kevin H Gardner PhD Former Vice Pres 50.0 X 0 194637 27144 0 3747357 637534 0 true true false UNIVERSITY OF LOUISVILLE PHYSICIANS INC 300 EAST MARKET STREET LOUISVILLE KY 40202 MEDICAL/HEALTHCARE 10790250 WESTERN KENTUCKY UNIVERSITY 1906 COLLEGE HEIGHTS BLVD BOWLING GREEN KY 42101 RESEARCH SERVICES 1689659 CARDINAL HEALTH INC 2512 WESTCOTT BLVD KNOXVILLE TN 37931 MEDICAL SERVICES 1477598 UNIV OF KY RESEARCH FOUNDATION 337 PETERSON SERVICE BLDG LEXINGTON KY 40506 RESEARCH SERVICES 1190825 CHARTIS GROUP LLC 220 W KINZIE ST CHICAGO IL 60654 CONSULTING SERVICES 1091168 88 158545138 16908085 175453223 CLINICAL SERVICES 541700 473176276 473176276 OTHER RESEARCH PROJECTS AND SERVICES 541700 4324603 4324603 CONFERENCES AND TRAINING 541700 72558 72558 0 0 0 0 477573437 140 140 225951 225951 428691 428691 0 428691 428691 114564 0 -114564 -114564 -114564 1439203 1562287 -123084 -123084 LEASE ACCOUNTING 900099 5827179 5827179 0 0 0 0 5827179 659270973 483277532 0 540218 X 7300 7300 13989323 13989323 1050776 744157 306619 57075 57075 180000 180000 569843613 559847060 9996553 0 623593 600046 23547 1349988 1301681 48307 11621192 9575090 2046102 55711 55711 4092794 3089184 1003610 5436807 5336856 99951 5749565 5538989 210576 117929 117929 10096288 10096288 1030549 944531 86018 F&A SERVICES AND OTHER TRANSFERS 47996650 47996650 LABORATORY SUPPLIES AND EXPENSES 22226525 21981123 245402 MISCELLANEOUS 3697940 3514880 183060 LICENSES, PERMITS, AND FEES 1457064 1352426 104638 956243 872232 84011 0 701636925 687198531 14438394 0 1850 1850 136121473 146037579 0 0 133210309 72603952 518274 453387 211387301 149482870 63956621 61904431 0 0 632796390 633796402 966604917 914797601 39336092 40992551 2373145 2117129 0 658568459 651349568 700277696 694459248 266327221 220338353 266327221 220338353 966604917 914797601 X -42365952 -3622916 X false true true true true X 218833551 260399561 219755075 238444007 175454253 1112886447 0 0 218833551 260399561 219755075 238444007 175454253 1112886447 0 1112886447 831817 937809 1208076 641116 540218 4159036 0 0 0 0 0 0 0 1117045483 0 0.99628 0.9964 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false false true 180000 false false 180000 false Schedule C, Part II-B, Line 1 DETAILED DESCRIPTION OF THE LOBBYING ACTIVITY The University of Louisville contracted with Akin Gump Strauss Hauer & Feld LLP during the year to lobby on behalf of the Research Foundation's research activities. 351695 351695 79575503 38425763 41149740 818024 179297 638727 115187999 99403794 15784205 15454080 11474016 3980064 61904431 DEPOSITS AND ADVANCES 644362 LONGTERM LEASE RECEIVABLE 633152040 633796402 Federal Income Taxes ALLOCATED POST EMPLOYMENT BENEFITS 33287549 OTHER LONG TERM LIABILITIES 11760 DUE TO UNIVERSITY OF LOUISVILLE 1318297 LONGTERM LEASE PAYABLE 616731962 651349568 659508481 0 0 659508481 -237508 -237508 659270973 701874433 237508 237508 701636925 0 0 701636925 Schedule D, Part XI, Line 4(b) Other revenues in form 990 not in audited financial statements RECLASS LOSS ON SALE OF INVENTORY - -123084 RECLASS LOSS ON ASSET DISPOSALS - -114564 RECLASS INVESTMENT INCOME NETTED WITH EXPENSE - 140 Schedule D, Part XII, Line 2(d) Other expenses in audited financial statements not in form 990 RECLASS LOSS ON SALE OF INVENTORY - 123084 RECLASS LOSS ON ASSET DISPOSALS - 114564 RECLASS INVESTMENT INCOME NETTED WITH EXPENSE - -140 true SCHOLARSHIPS, FELLOWSHIPS, FINANCIAL AID, AWARDS 2500 13989323 Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds The recipients of scholarships, fellowships, aid, and awards are selected based on University of Louisville departmental criteria. The organization serves primarily as a funding source for any scholarships awarded by the University. false false false false false false false false Eugene G Mueller Director 0 149138 0 0 0 774 0 13414 0 17707 0 181033 0 0 Daniel A Durbin Former Vice President 0 524888 0 0 0 1188 0 34500 0 26996 0 587572 0 0 Dr Beth Boehm Former Vice President 0 278128 0 0 0 2286 0 28559 0 22320 0 331293 0 0 Kevin H Gardner PhD Former Vice Pres 0 194121 0 0 0 516 0 14220 0 12924 0 221781 0 0 Dr Thomas Gerard Bradley Vice Pres to Pres eff 3/27/25 0 656008 0 0 0 1188 0 34500 0 26927 0 718623 0 0 Dr Kim Schatzel President to 3/26/25 0 929191 0 0 0 18748 0 234500 0 64755 0 1247194 0 0 Jon B Klein MD PhD Vice President from 2/13/24 0 486439 0 0 0 4017 0 36691 0 4477 0 531624 0 0 Dr Kathryn Cardarelli Vice Pres from 3/27/25 0 298150 0 0 0 20203 0 0 0 14668 0 333021 0 0 Form 990, Part III, Line 4a-4c Description of program services (Expenses $ 4,781,775 including grants of $ 0)(Revenue $ 5,776,653) The University of Louisville Research Foundation provides multiple opportunities for conferences, training, and continuing education activities for medical and other professionals established in their fields. Form 990, Part V, Line 1a FORM 1096 THE ORGANIZATION'S FORMS 1099 ARE FILED BY ITS COMMON PAY AGENT, THE UNIVERSITY OF LOUISVILLE. Form 990, Part V, Line 2a FORMS W-2 THE ORGANIZATION HAS NO EMPLOYEES. UNIVERSITY OF LOUISVILLE EMPLOYEE SALARIES AND BENEFITS ARE ALLOCATED TO THE COST OF RESEARCH PROJECTS AS ALLOWED. Form 990, Part VI, Line 15 PROCESS FOR DETERMINING COMPENSATION THE ORGANIZATION HAS NO EMPLOYEES, THUS LINES 15(A) AND 15(B) OF PART VI HAVE BEEN MARKED "NO." Form 990, Part VI, Line 1a Delegate broad authority to a committee The Executive Committee consists of the Chairman, Vice Chairman, Secretary, and Treasurer of the Board of Directors. The Committee acts for the Board of Directors in the interim between meetings of the Board, and with respect to the acceptance, administration and accounting for grants and contracts it is not required that actions of the Executive Committee be ratified by the Board. Except as stated above, the delegation of power and authority when given by the Board of Directors to the Executive Committee shall be complete, subject only to the limitations imposed by the Kentucky Revised Statues. Powers of the Committee shall not extend to amending, altering or repealing the bylaws; electing, appointing or removing any member of any such committee or any director or officer of the corporation; amending the articles of incorporation, restating articles of incorporation adopting a plan or merger or adopting a plan of consolidation with another corporation; authorizing the sale, lease, exchange or mortgage of all or substantially all of the property and assets of the corporation; authorizing the voluntary dissolution of the corporation or revoking proceedings therefor; adopting a plan for the distribution of the assets of the corporation; or amending, altering or repealing any resolution of the board of directors which by its terms provides that it shall not be amended, altered or repealed by such committee. 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. 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 Conflicts of interest are required to be completed on an annual basis by all officers and board members. 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 19 Required documents available to the public As a matter of practice, the organization adheres to the conflict of interest policy, non-retaliation policy, and document integrity policy of the University of Louisville. Copies of these policies are available at louisville.edu or upon request. Copies of the organization's audited financial statements are also available at louisville.edu. Form 990, Part IX, Line 11g Other Fees UNIVERSITY OF LOUISVILLE SALARY AND BENEFIT ALLOCATIONS - Total Expense: XXX-XX-XXXX, Program Service Expense: XXX-XX-XXXX, Management and General Expenses: 8866842, Fundraising Expenses: ; RESEARCH SUBCONTRACTING - Total Expense: 18350358, Program Service Expense: 18350358, Management and General Expenses: , Fundraising Expenses: ; MEDICAL SUBCONTRACTORS - Total Expense: 213009213, Program Service Expense: 213009213, Management and General Expenses: , Fundraising Expenses: ; OTHER CONSULTING AND SERVICES - Total Expense: 6757792, Program Service Expense: 5628081, Management and General Expenses: 1129711, Fundraising Expenses: ; Form 990, Part XI, Line 9 Other changes in net assets or fund balances COMPENSATED ABSENCES ADJUSTMENT - GASB STMT NO. 101 - -3622916; Total - -3622916; UNIVERSITY OF LOUISVILLE 2215 S BROOK STREET LOUISVILLE KY 40292 611014882 EDUCATION KY 115 NA false UNIVERSITY OF LOUISVILLE ATHLETIC ASSOCIATION 2215 S BROOK STREET LOUISVILLE KY 402082772 311106941 EDUCATION KY 501(c)(3) Type I UNIVERSITY OF LOUISVILLE false UNIVERSITY OF LOUISVILLE MEDICAL SCHOOL PRACTICE ASSOC 550 SOUTH JACKSON STREET LOUISVILLE KY 40202 611250153 MEDICAL CARE KY 501(c)(3) Type II UNIVERSITY OF LOUISVILLE false UNIVERSITY PHYSICIANS GROUP INC 323 EAST CHESTNUT STREET LOUISVILLE KY 40202 611346817 MEDICAL CARE KY 501(c)(3) 3 UNIVERSITY OF LOUISVILLE false UNIVERSITY MEDICAL CENTER INC 530 S JACKSON STREET LOUISVILLE KY 40202 611293786 MEDICAL CARE KY 501(c)(3) 3 UNIVERSITY OF LOUISVILLE false false false false false false false false false false false true false false true true true false false false