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University of Louisville Foundation Endowment Fund

Name: University of Louisville Foundation

Assets Under Management: $792 Million (Source: University of Louisville Foundation on 6/30/2014)

Annual Report: University of Louisville Foundation, Inc. 2013-2014 Budget

Portfolio Insights: “As the University of Louisville continues to grow and progress toward its goal of becoming a premier metropolitan research in stitution, it is critical that supplementary funding sources are identified for vital ongoing activities such as undergraduate education, research, academic support, community service, and fundraising. The University of Louisville Foundation, Inc. is a key resource in providing such additional resources to help the University reach its goals. For FY 2013-14, the President is requesting the University’s Foundation provide approximately $142.6 million in operating funds to various UofL programs. This is a $792,000 increase from the FY 2012-13 budget. (Source)

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Top University of Louisville Foundation Endowment Fund Headlines:

1) The University of Louisville Foundation’s board of directors follows the Uniform Prudent Management of Institutional Funds Act (UPMIFA), a law providing parameters for charitable institutions regarding investment and expenditure practices. The law ensures nonprofit administrators remain focused on the long-term viability of the funds entrusted to the organization. (Source)

2) The University of Louisville Foundation board elected new officers, approved a budget and granted a salary increase for UofL President James Ramsey at its meeting Sept. 20. Debbie Scoppechio was elected chairwoman of the foundation for 2013 ‒ 14. The other officers are Joyce Hagan, vice chair; Junior Bridgeman, treasurer; and Frank Weisberg, secretary.

The foundation board also approved a $142.6 million budget for this fiscal year, a slight increase over last year. Restricted endowment funds make up more than half of the foundation’s total budget ($80 million) with gift funds ($47 million) and fundraising, foundation business operations and other unrestricted funds making up the rest ($15.6 million). (Source)

3) University of Louisville Foundation and the University of Louisville Housing Board of Directors met this past Fri. At the meeting, the board approved the directors for ULH selecting Debbie Scoppechio as the Chairwoman. The board also approved the budget for the University of Louisville Foundation (ULF). Michael Curtin, Assistant Treasurer for ULF, reported that the foundation has $989 million in total assets, with liabilities of $182 million. He also noted that the market value of the foundation’s endowment funds was $754 million as of December 2012. Curtin went further to say that “the foundation is in a very strong, stable position.” (Source)

4) UofL’s endowment ranks among the top 100 colleges and universities in the U.S. The University of Louisville Foundation is a valued partner in helping keep UofL in a leadership position for research of all kinds. With guidance from the administration, the Foundation is setting the University’s investment fund on a course for long term success; the portfolio’s return is well above the national norm. (Source)

5) The University of Louisville Foundation is an independent 501(c)(3) not for profit corporation that holds, invests and designates funds of the University. These funds are invested and managed by the Foundation in support of the University’s education, research and service goals and used for scholarships, endowments, research chairs, grants and other academic initiatives. Founded in 1970, the Foundation is directed and supervised by a 15-member board of directors, the majority of whom are not members of the board of trustees or officers or employees of the University. The Foundation’s efforts have driven the University’s endowment into the ranks of the top 100 colleges and universities in the United States. (Source)

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