Foundation News

June 7, 2021

Foundation assets achieve highest value in history; all endowment accounts now above water.

The University of Louisville Foundation (ULF) is proud to share a significant milestone: after four years of reforms and focus, as of April 30, 2021, our main endowment pool, valued at almost $785 million, is at the highest level in the Foundation’s history. Even more significantly, after a recent additional infusion of cash by the Foundation, all remaining underwater accounts in the endowment are now above water. ULF has infused more than $24 million of cash since 2018 to help these accounts recover.  This money came primarily from the sale of non-strategic assets.  The remaining recovery has come from market returns coupled with rigorous financial stewardship.

The value of our total endowment assets as of April 30th was $897 million.  On April 30th, the combined value of ULF endowment assets and the University of Louisville Real Estate Foundation assets, was nearly $1.3 billion, also a record.

ULF’s strategic plan is working. The accomplishments made on behalf of our donors and the University were not simple fixes. Those coupled with extraordinary market returns have this organization in its strongest financial position in well over a decade.

Moody’s Investor Services has upgraded ULF’s credit rating to Baa1 stable and S&P affirmed its A+ stable rating. See the ICYMI: UofL Foundation Receives Credit Rating Increases from Moody’s, Affirmation from S&P Global for more on that exciting news.

ULF Revenues Continue to Increase: Positive investment performance continues to yield significant revenue increases. For the ten-month period ending April 30, 2021, the return on our total endowed investments was 27.3% (or $201 million).

  • Total Assets Rising: Total investment assets increased by $163 million since the start of calendar year 2020, with most of that growth in our main endowment pool which increased by $147 million. This represents a return of 26.6% for the fiscal year to date.

I am proud of what we have accomplished at the University of Louisville Foundation and look forward to continuing our positive momentum in the months and years ahead.

Keith Sherman, Executive Director and Chief Operating Officer, University of Louisville Foundation


About the University of Louisville Foundation:

The University of Louisville Foundation (ULF) is an independent 501(c)(3) organization established to support the educational, scientific, and research mission of the University of Louisville. ULF receives, invests and manages philanthropic gifts for the benefit of UofL to provide financial support that enhances student scholarships, research, faculty salaries, and organization operations. The Foundation works with and on behalf of donors to support one of the nation’s premier metropolitan research universities, recognized for advancing the intellectual, social, and economic development of the community. For more information, visit