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Nonprofiteer
← LOUISVILLE MEDICAL CENTER DEVELOPMENT CORPORATION

Form 990 for tax year 2023

Filed by LOUISVILLE MEDICAL CENTER DEVELOPMENT CORPORATION.

Totals

Total revenue
$965,599
Total expenses
$89,237,262
Contributions and grants received
$905,839
Grants paid
$84,798,640
Program service revenue
$0
Investment income
$59,760
Other revenue
$0
Total assets, end of year
$0
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$0
Program services expenses (Part IX)
$89,162,454
Management and general expenses
$74,808
Fundraising expenses
$0
Program service expenses (Part III)
$89,162,454

Program services were 99.9% 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

    $73,781

  • 1e · Government grants (contributions)

    $832,058

  • 3 · Investment income

    total $59,760 · excluded $59,760

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $84,798,640 · program services $84,798,640

  • 11b · Fees: legal

    total $75 · management and general $75

  • 11c · Fees: accounting

    total $73,706 · management and general $73,706

  • 13 · Office expenses

    total $1,027 · management and general $1,027

  • 22 · Depreciation, depletion and amortization

    total $4,363,814 · program services $4,363,814

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,995,794 · end of year $0

  • 2 · Savings and temporary cash investments

    end of year $0

  • 3 · Pledges and grants receivable

    end of year $0

  • 4 · Accounts receivable

    beginning of year $3,824,299 · end of year $0

  • 5 · Loans and receivables from officers and key people

    end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 7 · Other notes and loans receivable

    end of year $0

  • 8 · Inventories for sale or use

    end of year $0

  • 9 · Prepaid expenses and deferred charges

    end of year $0

  • 10c · Land, buildings and equipment, net

    end of year $0

  • 11 · Investments: publicly traded securities

    end of year $0

  • 12 · Investments: other securities

    end of year $0

  • 13 · Investments: program-related

    end of year $0

  • 14 · Intangible assets

    beginning of year $82,451,570 · end of year $0

  • 15 · Other assets

    end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $88,271,663 · end of year $0

Mission and programs · 2023

Mission

TO HOLD AND ADMINISTER TAX INCREMENT FINANCING (TIF) FOR REAL ESTATE PROJECTS.

  • TO HOLD AND ADMINISTER TAX INCREMENT FINANCING FOR THE LOUISVILLE LIFE AND HEALTH SCIENCES SIGNATURE TIF PROJECT AND UNIVERSITY OF LOUISVILLE RESEARCH PARK PROJECT.

    Expenses $89,162,454 · Grants $84,798,640

As filed on the 2023 return.

Listed in Part VII

  • Scott Brinkman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • Jessica Cole

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • Charlie Dahlem

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • Jill Force

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • Steve Gault

    VICE CHAIR & SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Mariah Gratz

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • Mark Nickel

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • Kim Schatzel

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • Keith Sherman

    CHAIR

    Total calculated
    $0
    Hours/week
    1 + 27.5 related

  • Jake Smith

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • Powell Spears

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • Craig Hawley

    DIRECTOR (PREVIOUS)

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

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.

Grants 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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • CAMPUS TWO LLC

    REAL ESTATE · KY

  • CAMPUS THREE LLC

    REAL ESTATE · KY

  • MEDCENTER PARKING LLC

    REAL ESTATE · KY

Assets distributed on this return

Schedule N, as filed: what the organization did with its assets when it liquidated or dissolved, or disposed of more than a quarter of them, and who received them. A recipient with an EIN is usually a successor organization; filers also list expenses such as legal fees here.

Provenance

Return type
form_990
Tax year
2023
Filed
7 May 2025
IRS schema version
2023v6.0
Source object
202511339349301806

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