University of Louisville Athletic

Analysis

University of Louisville Athletic is a registered charity in United States, based in Louisville, KY. It received its IRS tax-exemption ruling in September 1984, 42 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, University of Louisville Athletic reported income of $137.0m and spending of $141.0m, spending 103% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $129.8m to $137.0m (+5.5%), an average of +1.4% a year. The sharpest change came in the year to June 2022, when income rose by 40%. Over the whole period it spent 104% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, University of Louisville Athletic sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within KY. Charities of a similar size with the same main cause include Amery Regional Medical Center Inc ($81.9m), Usta National Tennis Center Inc ($140.8m) and Multipurpose Arena Fort Worth ($79.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 28% and program service revenue 35% of the total. Compensation of current officers, directors and key employees was $1.3m (0.9% of expenses). Other salaries and wages came to $40.7m. At year end it held assets of $352.9m against liabilities of $249.6m, net assets of $103.4m. It reported 624 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.