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September 07, 2016

2nd Big U. of Louisville Donor Demands Foundation Audit

For the second time in less than a week, a grant maker that has given tens of millions of dollars to the University of Louisville is threatening to cut off funding unless the university’s fundraising foundation undergoes a forensic financial examination, reports The Courier-Journal.

David Jones Sr., president of the C.E. and S. Foundation, called for the audit in a letter Monday to Bob Hughes, chairman of the University of Louisville Foundation. C.E. and S. has granted more than $63 million to the university over the past decade. Mr. Jones’s letter echoes a similar demand issued Friday by the James Graham Brown Foundation. Both grant makers offered to pay for such an audit.

Mr. Jones cited “unrefuted public reports” of inappropriate spending by the foundation. The campus nonprofit has drawn scrutiny for paying large salary supplements to former university President James Ramsey and other top university officials. Mr. Ramsey resigned from his university office in July but remains president of the foundation. The foundation’s board is set to consider Mr. Ramsey’s position at a meeting later this month.