University of Louisville Research Foundation Inc
Public records show a registered, tax-exempt organization in good standing.
What it says it does
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.
- Income
- $659.3 million
- Spending
- $701.6 million
- Spent on programs
- 98%
- Reserves
- 2.7 months of spending
- Largest source of income
- fees for its services, 72%
- Employees
- 0
- Volunteers
- 12
- Highest pay
- $1.2 million, president to 3/26/25
Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Financial health
Weak: 46 out of 100. Higher than 14% of charities in its peer group (education, over $100m).
Reserves
10 of 35Spendable reserves would cover 2.7 months of spending.
Debt
2 of 20It owes 76% of what it owns.
Living within its means
4 of 15Spending exceeded income by 6% of income.
Income trend
15 of 15Income rose 1% on the year before.
Spending floor
15 of 1598% of spending went to programs and raising each dollar of donations cost 0 cents.
Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Governance
Strong: 95 out of 100. Higher than 38% of charities in its peer group (education, over $100m).
Independent board
25 of 2510 of 13 voting board members are independent.
Conflict of interest policy
15 of 15Has a written conflict of interest policy.
Whistleblower policy
8 of 8Has a written whistleblower policy.
Record keeping policy
7 of 7Has a written policy on keeping and destroying records.
Board minutes
5 of 5Keeps minutes of board meetings.
Board sees the tax return
10 of 10Gave the board a copy of this return before filing it.
Pay set independently
0 of 5Reports no independent review process for its chief executive's pay.
Independent check of accounts
15 of 15Its accounts were audited by an independent accountant.
No reported misuse
10 of 10Reports no diversion of assets, excess benefits or loans to insiders.
Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Impact evidence
Describes programs. Its tax return describes what it does but we have found no measurable results in it.
Programs described in its return (4)
- $506.1 million spent. 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. (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.
- $162.4 million spent. 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.
- $14.0 million spent. 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. (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.
- $4.8 million spent. 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.
Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Legitimacy checks
Is it registered with the IRS? Passed.
Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Has the IRS revoked its tax-exempt status? Passed.
Not on the IRS automatic revocation list.
Source: Automatic revocation of exemption list, Internal Revenue Service, file dated October 13, 2026.
Are donations tax-deductible? Passed.
On the IRS list of organizations eligible to receive tax-deductible contributions.
Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.
Is it keeping up with its IRS filings? Passed.
Most recent return on file covers the year ending June 2025.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since May 1984.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Is it in good standing with state regulators? Passed.
Not on California's list of charities barred from soliciting. Other states are not yet checked.
Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 21, 2026.
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