Categories: Education

U of L Foundation Touts Turnaround, Courts Donors

The University of Louisville Foundation is touting its reforms and taking stock of how far it’s come after several months of intense public scrutiny, a blistering state audit and a forensic investigation.

ULF Interim Executive Director Keith Sherman told the Louisville Rotary Club Thursday that the foundation has addressed all but one recommendation from the state auditor and auditing firm Alvarez & Marsal, which was to begin an internal audit of the foundation.

Sherman said that would be too costly for the size and budget of the ULF. He said the foundation is “focusing on making sure we’re continuing to do the right things.”

“The donors that are so generous with their dollars at the foundation are really there to support the academics and we hope and trust that our donors will know that there’s great academic work going on, and they should continue to support us and continue to give,” said Sherman.

Recommended changes made by the foundation, Sherman said, include barring university presidents from running the foundation, halting its deferred compensation plan, increasing the frequency of foundation meetings, approving its first line-item budget and limiting spending.

During his presentation to the rotary club, Sherman assured members that their donations would not fund U of L’s athletics department. The athletics department is in hot water in the wake of an FBI investigation into a widespread bribery scheme involving Adidas.

The university is moving forward with firing head coach Rick Pitino, athletic director Tom Jurich remains on paid leave, and basketball player Brian Bowen has been suspended.  Assistant Coach David Padgett was named interim men’s basketball coach last week and Vince Tyra was named acting athletic director on Tuesday.

Tyra was a member of the foundation’s board of directors, but said he would resign. Sherman said the foundation is reviewing candidates to fill Tyra’s position.

Disclosures: In 2015, the University of Louisville, which for years has donated to Louisville Public Media, earmarked $3,000 to KyCIR as part of a larger LPM donation. University board member Sandra Frazier and former member Stephen Campbell have donated. 

Kyeland Jackson

Kyeland Jackson is an Associate Producer for WFPL News. He’s originally from New Albany, Indiana, but grew up in Elizabethtown, Kentucky. He holds a bachelor's degree in communication from the University of Louisville, where he wrote for the student newspaper, The Louisville Cardinal. He's covered a wide range of topics including politics, environment, crime and culture.

Recent Posts

Strange Fruit: When Black Women Raised America

Their wages were low and they had little recourse if they encountered harassment on the job.

20 hours ago

UPS Flight Crew Inspires Next Generation Of Female Pilots

Last year, for the first time in Thunder Over Louisville history, UPS Airlines had an all-female crew for the annual…

2 days ago

Louisville Students Honor Columbine In National School Walkout

Today marked another National School Walkout to protest school gun violence — this one coincided with the anniversary of the…

2 days ago

Health Officials Issue Hepatitis A Warning Ahead Of Thunder

The warning comes ahead of peak tourist time in Kentucky, with Thunder over Louisville Saturday and two weeks of Kentucky…

2 days ago

Plan Recommends Ending Rush Hour Traffic Patterns On Bardstown Road Corridor

A consultant hired to study traffic patterns and suggest safety improvements along Baxter Avenue and Bardstown Road in the Highlands…

3 days ago

Why More Than A Million Teachers Can’t Use Social Security

About 40 percent of teachers live in places where their state or local pension is the only safety net they've…

3 days ago