University of Louisville Athletic Association

What it reported doing in 2024

The University of Louisville Athletic Association reached new heights in academic achievement, setting a department record with a 96% Graduation Success Rate (GSR), as reported by the NCAA. This milestone reinforces the organization's trajectory of academic excellence, with 18 programs achieving a GSR of 90 or higher and nine programs recording a perfect 100 mark. Continuing this commitment, ten Cardinal programs-including Men's and Women's Basketball, Men's and Women's Cross Country, Men's and Women's Golf, Men's Soccer, Softball, Women's Track and Field, and Volleyball-earned a perfect 1,000 Academic Progress Rate (APR) score. Every athletic program exceeded the required NCAA multi-year standards, ensuring robust eligibility and retention across the department. Supporting this dual-mission of excellence, the association provided vital scholarship support to nearly 850 student-athletes, enabling success both in the classroom and in competition. On the field, Louisville remained a premier national force, finishing 37th in the Learfield Directors' Cup. This marks the 15th consecutive season the Cardinals have ranked among the top 40 programs nationwide. Throughout the year, 10 different sport programs earned a Top-25 national ranking, and 11 programs advanced to postseason play. The Volleyball program delivered a historic season, hosting the NCAA Final Four and finishing as the National Runner-Up. In Football, the Cardinals achieved nine wins in back-to-back seasons for the first time in over a decade, culminating in a Sun Bowl victory. The Men's Basketball program saw a resurgence, reaching the ACC Tournament Championship game and returning to the NCAA Tournament, while Baseball made its sixth appearance in the College World Series. Individual performances further cemented Louisville's global athletic standing. Synclair Savage captured the NCAA National Title in the women's long jump, becoming the first in program history to win that specific event. In Swimming and Diving, Denis Petrashov achieved national runner-up honors in the 100 breaststroke, while the women's team secured its eighth Top-10 national finish in a decade. The All-Girl Cheer squad continued its unprecedented dominance, winning its 11th consecutive National Championship. Professional recognition also followed Cardinal athletes, with high-profile selections in the NFL, MLB, and PVF drafts, including first-round picks in baseball and volleyball. These milestones collectively define a year of distinction, blending historic athletic results with record-breaking academic performance.

Financial Efficiency

• Mission deployment rate: 100%; rating input score 100
• Program expense ratio: 94.2%; rating input score 94
• Fundraising efficiency: $19.21 raised per $1 spent on fundraising; rating input score 57; 57th percentile among comparable filings

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
• Pay-setting controls: 5 of 6 controls in place; rating input score 83
  • Compensation committee: Pass
  • Independent consultant: Pass
  • Other Form 990s reviewed: Missing
  • Written employment contract: Pass
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: Scored; rating input score 0
• Grant itemization coverage: 100%; rating input score 100; 77th percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 35.7%; rating input score 36; 11th percentile among comparable filings
• Governance controls: 9 of 9 controls in place; rating input score 100
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: Pass
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: -11.5%; rating input score 7; 7th percentile among comparable filings
• Total-asset coverage ratio: 2; rating input score 63; 63rd percentile among comparable filings
• Liabilities to assets ratio: 0.76; rating input score 19; 19th percentile among comparable filings
• Officer compensation ratio: 14.3%; rating input score 1; 1st percentile among comparable filings

Growth

• Program expense growth: 5% per year; rating input score 100; 41st percentile among comparable filings
• Revenue growth: 3.7% per year; rating input score 100; 29th percentile among comparable filings
• Asset growth: 2.1% per year; rating input score 100; 15th percentile among comparable filings