Form 990 for tax year 2022
Filed by UNIVERSITY OF KENTUCKY RESEARCH FOUNDATION.
Totals
- Total revenue
- $462,956,333
- Total expenses
- $447,136,661
- Contributions and grants received
- $7,107,443
- Grants paid
- $47,678,406
- Program service revenue
- $450,436,933
- Investment income
- $4,604,051
- Other revenue
- $807,906
- Total assets, end of year
- $234,312,146
- Total liabilities, end of year
- $60,504,446
- Net assets or fund balances, end of year
- $173,807,700
- Program services expenses (Part IX)
- $442,635,274
- Management and general expenses
- $4,501,387
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $442,635,274
Program services were 99.0% 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.
-
1f · All other contributions, gifts and grants
$7,107,443
-
2a · Program service revenue: FEDERAL GRANTS & CONTRACTS
total $281,078,205 · related or exempt $281,078,205
-
2b · Program service revenue: STATE & LOCAL GRANTS & CONTRACTS
total $28,690,319 · related or exempt $28,690,319
-
2c · Program service revenue: RECOVERIES OF FAC & ADMIN COSTS
total $93,255,754 · related or exempt $93,255,754
-
2d · Program service revenue: NONGOVERNMENTAL GRANTS & CONTRACTS
total $28,085,956 · related or exempt $28,085,956
-
2e · Program service revenue: OTHER REVENUES
total $19,326,699 · related or exempt $19,326,699
-
3 · Investment income
total $4,617,448 · excluded $4,617,448
-
4 · Income from investment of tax-exempt bond proceeds
total $0
-
5 · Royalties
total $0
-
6c · Rental income or loss
real property $0 · personal property $0
-
6d · Net rental income or loss
total $0
-
7a · Gross sales of assets other than inventory
securities $5,382,751
-
7b · Less cost or other basis and sales expenses
securities $5,396,148
-
7c · Gain or loss
securities -$13,397
-
7d · Net gain or loss
total -$13,397 · excluded -$13,397
-
8a · Fundraising events: gross income
$0
-
8b · Fundraising events: direct expenses
$0
-
8c · Net income from fundraising events
total $0
-
9a · Gaming: gross income
$0
-
9b · Gaming: direct expenses
$0
-
9c · Net income from gaming
total $0
-
10a · Gross sales of inventory
$0
-
10b · Cost of goods sold
$0
-
10c · Net income from sales of inventory
total $0
-
11a · Other revenue: LICENSE INCOME
total $807,906 · related or exempt $807,906
-
11e · Other revenue, total
$807,906
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $47,678,406 · program services $47,678,406
-
2 · Grants to domestic individuals
total $0
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $0
-
5 · Compensation of officers, directors and key employees
total $0
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $0
-
8 · Pension plan contributions
total $0
-
9 · Other employee benefits
total $0
-
10 · Payroll taxes
total $0
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $1,625,340 · program services $90,091 · management and general $1,535,249
-
11c · Fees: accounting
total $61,543 · management and general $61,543
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $8,981,437 · program services $8,949,400 · management and general $32,037 · fundraising $0
-
12 · Advertising and promotion
total $0
-
13 · Office expenses
total $7,958,509 · program services $7,089,260 · management and general $869,249
-
14 · Information technology
total $2,182,082 · program services $2,166,256 · management and general $15,826
-
15 · Royalties
total $0
-
16 · Occupancy
total $2,321,378 · program services $2,316,326 · management and general $5,052
-
17 · Travel
total $8,071,980 · program services $7,808,800 · management and general $263,180
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $319,148 · program services $276,239 · management and general $42,909
-
20 · Interest
total $2,192 · program services $2,192
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $1,035,096 · program services $1,035,096
-
23 · Insurance
total $166,975 · program services $19 · management and general $166,956
-
24a · Other expenses: SALARY, BENEFITS & TAX REIMB
total $260,047,212 · program services $259,320,394 · management and general $726,818 · fundraising $0
-
24b · Other expenses: SUBCONTRACTORS
total $54,061,916 · program services $53,784,242 · management and general $277,674 · fundraising $0
-
24c · Other expenses: LAB SUPPLIES
total $17,398,562 · program services $17,398,562 · management and general $0 · fundraising $0
-
24d · Other expenses: EQUIPMENT
total $7,922,063 · program services $7,918,791 · management and general $3,272 · fundraising $0
-
24e · All other expenses
total $27,302,822 · program services $26,801,200 · management and general $501,622
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $127,707,638 · end of year $140,552,392
-
2 · Savings and temporary cash investments
beginning of year $0 · end of year $0
-
3 · Pledges and grants receivable
beginning of year $0 · end of year $0
-
4 · Accounts receivable
beginning of year $54,556,107 · end of year $60,005,198
-
5 · Loans and receivables from officers and key people
beginning of year $0 · end of year $0
-
6 · Loans and receivables from disqualified persons
beginning of year $0 · end of year $0
-
7 · Other notes and loans receivable
beginning of year $0 · end of year $0
-
8 · Inventories for sale or use
beginning of year $0 · end of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $2,386,180 · end of year $3,721,681
-
10a · Land, buildings and equipment: cost or other basis
$4,019,221
-
10b · Land, buildings and equipment: accumulated depreciation
$1,398,538
-
10c · Land, buildings and equipment, net
beginning of year $2,704,042 · end of year $2,620,683
-
11 · Investments: publicly traded securities
beginning of year $18,068,869 · end of year $19,063,002
-
12 · Investments: other securities
beginning of year $0 · end of year $0
-
13 · Investments: program-related
beginning of year $8,566,595 · end of year $7,609,082
-
14 · Intangible assets
beginning of year $0 · end of year $0
-
15 · Other assets
beginning of year $2,110,570 · end of year $740,108
-
17 · Accounts payable and accrued expenses
beginning of year $13,393,753 · end of year $12,514,837
-
18 · Grants payable
beginning of year $0 · end of year $0
-
19 · Deferred revenue
beginning of year $42,784,140 · end of year $47,263,444
-
20 · Tax-exempt bond liabilities
beginning of year $0 · end of year $0
-
21 · Escrow or custodial account liability
beginning of year $0 · end of year $0
-
22 · Loans and payables to officers and key people
beginning of year $0 · end of year $0
-
23 · Secured mortgages and notes payable
beginning of year $0 · end of year $0
-
24 · Unsecured notes and loans payable
beginning of year $0 · end of year $0
-
25 · Other liabilities
beginning of year $2,144,464 · end of year $726,165
-
29 · Capital stock, trust principal or current funds
beginning of year $0 · end of year $0
-
30 · Paid-in or capital surplus, or land, building or equipment fund
beginning of year $2,609,842 · end of year $2,417,560
-
31 · Retained earnings, endowment or other funds
beginning of year $155,167,802 · end of year $171,390,140
Mission and programs · 2022
Mission
SEE SCHEDULE O
-
TO PROMOTE SCIENTIFIC, EDUCATIONAL, AND DEVELOPMENT ACTIVITIES AT THE UNIVERSITY OF KENTUCKY.
Expenses $442,635,274 · Grants $47,678,406 · Revenue $451,244,839
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Eli CapiloutoELI CAPILOUTO
PRESIDENT
- Total calculated
- $1,760,977
- From this org
- $0
- From related orgs
- $1,362,033
- Other
- $398,944
- Hours/week
- 1 + 39 related
Schedule J breakdown matched by us
- Base
- $0 + $1,036,146 related
- Bonus
- $0 + $125,000 related
- Other
- $0 + $200,887 related
- Deferred
- $0 + $383,422 related
- Nontaxable benefits
- $0 + $15,522 related
- Filer's total
- $0 + $1,760,977 related
-
Robert DipaolaROBERT DIPAOLA
DIRECTOR
- Total calculated
- $1,088,829
- From this org
- $0
- From related orgs
- $880,572
- Other
- $208,257
- Hours/week
- 1 + 39 related
Schedule J breakdown matched by us
- Base
- $0 + $792,808 related
- Bonus
- $0 + $70,293 related
- Other
- $0 + $17,471 related
- Deferred
- $0 + $189,951 related
- Nontaxable benefits
- $0 + $18,306 related
- Filer's total
- $0 + $1,088,829 related
-
Eric N MondayERIC N MONDAY
DIRECTOR
- Total calculated
- $998,225
- From this org
- $0
- From related orgs
- $671,453
- Other
- $326,772
- Hours/week
- 1 + 39 related
Schedule J breakdown matched by us
- Base
- $0 + $557,044 related
- Bonus
- $0 + $110,403 related
- Other
- $0 + $4,006 related
- Deferred
- $0 + $306,533 related
- Nontaxable benefits
- $0 + $20,239 related
- Filer's total
- $0 + $998,225 related
-
Lisa CassisLISA CASSIS
VP AND EXECUTIVE DIRECTOR
- Total calculated
- $606,174
- From this org
- $0
- From related orgs
- $545,200
- Other
- $60,974
- Hours/week
- 1 + 39 related
Schedule J breakdown matched by us
- Base
- $0 + $535,058 related
- Bonus
- $0
- Other
- $0 + $10,142 related
- Deferred
- $0 + $53,624 related
- Nontaxable benefits
- $0 + $7,350 related
- Filer's total
- $0 + $606,174 related
-
Penny CoxPENNY COX
TREASURER
- Total calculated
- $335,609
- From this org
- $0
- From related orgs
- $298,304
- Other
- $37,305
- Hours/week
- 1 + 39 related
Schedule J breakdown matched by us
- Base
- $0 + $292,465 related
- Bonus
- $0
- Other
- $0 + $5,839 related
- Deferred
- $0 + $29,396 related
- Nontaxable benefits
- $0 + $7,909 related
- Filer's total
- $0 + $335,609 related
-
Guigen ZhangGUIGEN ZHANG
DIRECTOR
- Total calculated
- $270,129
- From this org
- $0
- From related orgs
- $230,552
- Other
- $39,577
- Hours/week
- 1 + 39 related
Schedule J breakdown matched by us
- Base
- $0 + $185,295 related
- Bonus
- $0
- Other
- $0 + $45,257 related
- Deferred
- $0 + $23,469 related
- Nontaxable benefits
- $0 + $16,108 related
- Filer's total
- $0 + $270,129 related
-
Sidney WhiteheartSIDNEY WHITEHEART
DIRECTOR
- Total calculated
- $183,623
- From this org
- $0
- From related orgs
- $151,225
- Other
- $32,398
- Hours/week
- 1 + 39 related
Schedule J breakdown matched by us
- Base
- $0 + $149,949 related
- Bonus
- $0
- Other
- $0 + $1,276 related
- Deferred
- $0 + $15,528 related
- Nontaxable benefits
- $0 + $16,870 related
- Filer's total
- $0 + $183,623 related
-
Toni SmithTONI SMITH
SECRETARY
- Total calculated
- $102,765
- From this org
- $0
- From related orgs
- $74,211
- Other
- $28,554
- Hours/week
- 1 + 39 related
-
Ron GeogheganRON GEOGHEGAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Mary Vore IwamotoMARY VORE IWAMOTO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Eugene KrentselEUGENE KRENTSEL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Sandra ShuffettSANDRA SHUFFETT
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
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
- 3 · Written employment contract
- 3 · Approval by the board or compensation committee
- 4b · Supplemental nonqualified retirement plan
Answered no
- 4a · Severance or change-of-control payment
- 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
The filer's explanations (Part III)
- SCHEDULE J, PART I, LINE 4B
- A 457(F) CONTRACT WAS WRITTEN FOR DR. CAPILOUTO STARTING JULY 1, 2016, AND SHALL CONTINUE AS LONG AS HE REMAINS EMPLOYED WITH PAYMENTS COMMENCING FOR $178,000 AND PAYABLE EACH YEAR ON JULY 1. A 415(M) DEFERRED COMPENSATION CONTRACT WAS WRITTEN FOR DR. CAPILOUTO STARTING JULY 1, 2011, WITH PAYMENTS COMMENCING FOR $50,000 AND PAYABLE EACH YEAR THROUGH 2025. A 415(M) CONTRACT WAS WRITTEN FOR DR. MONDAY EFFECTIVE OCTOBER 1, 2020, WITH AN INITIAL RETENTION CONTRIBUTION OF $150,000 ON OCTOBER 31, 2020. AS LONG AS HE HAS CONTINUED EMPLOYMENT, ANNUAL CONTRIBUTIONS OF $250,000 WILL BE MADE ON JULY 1 EACH YEAR BEGINNING IN 2021 THROUGH 2023. A 415(M) CONTRACT WAS WRITTEN FOR DR. DIPAOLA EFFECTIVE OCTOBER 1, 2022, WITH AN INITIAL RETENTION CONTRIBUTION OF $110,000 ON OCTOBER 1, 2022. AS LONG AS HE HAS CONTINUED EMPLOYMENT AS PROVOST, ANNUAL CONTRIBUTIONS WILL BE MADE ON JUNE 1 EACH YEAR BEGINNING IN 2023 IN THE AMOUNT OF $110,000 AND INCREASE BY $25,000 EACH SUBSEQUENT YEAR THROUGH 2026.
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
-
UNIVERSITY OF KENTUCKY
$47,678,406
SCHOLARSHIPS AND CAPITAL PURCHASE
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.
-
UNIVERSITY OF KENTUCKY
HIGHER ED · KY
Directly controlled by NA
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 corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
KENTUCKY TECHNOLOGY INC
C CORP · SEE PART VII · KY · 100% owned · share of income -$455,443 · share of assets $11,830,946 · controlled entity
Directly controlled by UK
-
SECAT INC
C CORP · SALES · KY · 100% owned · share of income -$460,670 · share of assets $2,268,178 · controlled entity
Directly controlled by KTI
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 15 May 2024
- IRS schema version
- 2022v5.0
- Source object
- 202431369349303138
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