University of Louisville Research Foundation

What it reported doing in 2024

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.

Financial Efficiency

• Mission deployment rate: 100%; rating input score 100
• Program expense ratio: 97.9%; rating input score 98
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
• Pay-setting controls: 0 of 6 controls in place; rating input score 0
  • Compensation committee: Missing
  • Independent consultant: Missing
  • Other Form 990s reviewed: Missing
  • Written employment contract: Missing
  • Compensation survey or study: Missing
  • Board or committee approval: Missing
• Foreign activity oversight: Limited
• Grant itemization coverage: 99.9%; rating input score 100; 48th percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 76.9%; rating input score 77; 25th percentile among comparable filings
• Governance controls: 7 of 9 controls in place; rating input score 78
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Fail
  • Other executive compensation review process: Fail
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: -6.4%; rating input score 11; 11th percentile among comparable filings
• Total-asset coverage ratio: 1.3; rating input score 48; 48th percentile among comparable filings
• Liabilities to assets ratio: 0.76; rating input score 19; 19th percentile among comparable filings
• Officer compensation ratio: 0.1%; rating input score 93; 93rd percentile among comparable filings

Growth

• Program expense growth: 6.1% per year; rating input score 100; 50th percentile among comparable filings
• Revenue growth: 5.8% per year; rating input score 100; 50th percentile among comparable filings
• Asset growth: 20.1% per year; rating input score 100; 93rd percentile among comparable filings