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Nonprofiteer
← LOU MED INC

Form 990 for tax year 2025

Filed by LOU MED INC.

Totals

Total revenue
$6,123,713
Total expenses
$1,683,837
Contributions and grants received
$4,497,363
Grants paid
$0
Program service revenue
$1,608,200
Investment income
$18,150
Other revenue
$0
Total assets, end of year
$6,175,695
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$6,175,695
Program services expenses (Part IX)
$1,565,153
Management and general expenses
$118,684
Fundraising expenses
$0
Program service expenses (Part III)
$1,565,153

Program services were 93.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1d · Related organizations

    $313,698

  • 1e · Government grants (contributions)

    $4,183,665

  • 2a · Program service revenue: MEMBERSHIP DUES

    total $1,608,200 · related or exempt $1,608,200

  • 3 · Investment income

    total $18,150 · excluded $18,150

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $220,307 · program services $220,307

  • 7 · Other salaries and wages

    total $69,048 · program services $69,048

  • 8 · Pension plan contributions

    total $1,760 · program services $1,760

  • 9 · Other employee benefits

    total $3,723 · program services $3,723

  • 10 · Payroll taxes

    total $18,860 · program services $18,860

  • 11b · Fees: legal

    total $30,446 · management and general $30,446

  • 11c · Fees: accounting

    total $43,500 · management and general $43,500

  • 11g · Fees: other

    total $103,924 · program services $103,924

  • 12 · Advertising and promotion

    total $123,370 · program services $121,810 · management and general $1,560

  • 13 · Office expenses

    total $2,149 · management and general $2,149

  • 14 · Information technology

    total $11,787 · program services $588 · management and general $11,199

  • 17 · Travel

    total $20,690 · management and general $20,690

  • 23 · Insurance

    total $5,553 · management and general $5,553

  • 24a · Other expenses: AMBASSADOR PROGRAM

    total $1,020,612 · program services $1,020,612

  • 24b · Other expenses: LOUMED PROJECTS

    total $4,521 · program services $4,521

  • 24c · Other expenses: MEALS AND CATERING

    total $3,587 · management and general $3,587

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    end of year $741,796

  • 2 · Savings and temporary cash investments

    beginning of year $1,735,890 · end of year $1,538,081

  • 3 · Pledges and grants receivable

    beginning of year $50,000

  • 10a · Land, buildings and equipment: cost or other basis

    $3,895,818

  • 10b · Land, buildings and equipment: accumulated depreciation

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $3,895,818

  • 17 · Accounts payable and accrued expenses

    beginning of year $50,243 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $1,735,647 · end of year $6,175,695

Mission and programs · 2025

Mission

TO CREATE A WORLD-CLASS MEDICAL EDUCATION DISTRICT THAT IS SAFE, CLEAN, INNOVATIVE, AND COLLABORATIVE.

Activities or mission (Part I)

TO CREATE A WORLD-CLASS MEDICAL EDUCATION DISTRICT THAT IS SAFE, CLEAN, INNOVATIVE, (SEE SCHEDULE O) AND COLLABORATIVE.

  • THE LOUISVILLE MEDICAL AND EDUCATIONAL DISTRICT IS HOME TO FOUR INTERCONNECTED INSTITUTIONS: JEFFERSON COMMUNITY & TECHNICAL COLLEGE, NORTON HEALTHCARE, UNIVERSITY OF LOUISVILLE HEALTH SCIENCES CENTER, AND UOFL HEALTH. THE DISTRICT IS COMPRISED OF 22 CITY BLOCKS, 250 ACRES, 9.6 MILLION SQUARE FEET OF OCCUPIED SPACE IN DOWNTOWN LOUISVILLE, ATTRACTS OVER 1.5 MILLION VISITORS PER YEAR, AND EMPLOYS OVER 16,000 INDIVIDUALS. LOUMED INC SEEKS TO BUILD A WORLD CLASS MEDICAL AND EDUCATION DISTRICT. PROGRAMS AND STRATEGIC ACTIONS INCLUDE URBAN REVITALIZATION, IMPROVING COMMUNITY SPACE, IMPACTING ECONOMIC DEVELOPMENT, AND UTILIZING AN AMBASSADOR PROGRAM.

    Expenses $1,565,153 · Revenue $1,608,200

As filed on the 2025 return.

Listed in Part VII

  • KEN MARSHALL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • GARY DRYDEN

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • MATT AYERS

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • JOHN WALSH

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • DIANE SCARDINO

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ANDREW MCCARTHY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JEFFREY BUMPOUS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • PAMELA TURNER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • TY HANDY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • NADARECA THIBEAUX

    EXECUTIVE DIRECTOR

    Total calculated
    $220,307
    From this org
    $183,394
    From related orgs
    $0
    Other
    $36,913
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $183,394
    Bonus
    $0
    Other
    $0
    Deferred
    $7,336
    Nontaxable benefits
    $29,577
    Filer's total
    $220,307

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2025
IRS schema version
2025v4.2
Source object
202602239349300515

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