Tag: Philanthropy

In a sharp rebuke, JG Brown foundation asks whether UofL foundation funds were improperly diverted, threatens to cut off future gifts

By Jim Hopkins
Boulevard Publisher

The white-shoe world of philanthropy is usually collegial and rarely combative, which makes the $355 million James Graham Brown Foundation‘s public accusations yesterday against the University of Louisville Foundation so extraordinary.

The Brown foundation, which has given $72 million to the school over the past six decades, sent the broadside in a letter from Chairman and CEO R. Alex Rankin and President Mason Rummel, according to The Courier-Journal.

They expressed concern that “expenditures may have been made that were not exclusively for the charitable and educational purposes of the university,” or were not consistent with UofL rules barring donors, members or trustees from personally profiting from the UofL foundation, according to the CJ’s Andrew Wolfson.

Alex Rankin
Rankin

Established in 1943, the Brown is second only to UofL’s among the city’s biggest philanthropic foundations based on asset size; UofL’s has about $820 million. That gives the Brown and Rankin extra clout, and could spur other big donors to also threaten funding cutoffs. Rankin is well-connected in the city’s power structure, sitting on the boards of Churchill Downs and Glenview Trust Co., where fellow directors have very strong UofL connections.

In their letter, Rankin and Rummel also said the Brown foundation is troubled the university hasn’t honored open- records requests from the chairman of the university’s board of trustees, Larry Benz, concerning UofL foundation accounting records, the CJ says.

Underscoring the gravity of their concerns, Rankin and Rummel threatened to cut off funding unless UofL hires a nationally recognized forensic accounting firm to review its finances. The specific request for a forensic accounting is striking because Continue reading “In a sharp rebuke, JG Brown foundation asks whether UofL foundation funds were improperly diverted, threatens to cut off future gifts”

The Speed Museum’s new tax return reveals CEO d’Humières’s annual pay ($300K), and a larger window on non-profit finances

By Jim Hopkins
Boulevard Publisher

The Speed Museum is paying CEO Ghislain d’Humières more than $300,000 a year, according to its latest IRS tax return, the first public disclosure of the annual compensation paid to the man hired to lead one of Louisville’s preeminent cultural institutions, after a top-to-bottom renovation completed this year.

Ghislain dhumieres
D’Humieres

D’Humières joined the museum in September 2013 to help oversee the $60 million renovation already underway; it was finished with its reopening in March after being closed more than three years. He came from the Fred Jones Jr. Museum of Art at the University of Oklahoma, where he also was the chief executive.

The tax return says he was paid $290,553 in salary and $18,105 in medical and retirement benefits to run the 91-year-old institution and next year’s $8.3 million budget.

D’Humières replaced Charles Venable, who in October 2012 left for the top job at the Indianapolis Museum of Art. He led the Speed for five years, and was paid $241,834 in salary and $19,250 in benefits during his last year there.

IRS tax returns filed by non-profits such as the Speed provide the fullest annual public accounting of their finances, including spending on payroll, marketing and other overhead as well as revenue from donations and investment income. The Speed’s is especially noteworthy because it’s one of the city’s most high-profile arts organizations, now under d’Humières.

Comparable pay elusive

A native of France, he holds a DEA in History and License of Art History from the University of Paris I Pantheon Sorbonne, and a Master of History from the University of Paris X Nanterre.

It’s difficult to find comparable compensation for Louisville executives in his position, partly because of his unusual academic credentials, but also because IRS tax returns often lag among the city’s handful of non-profits devoted to the arts.

Actors Theatre‘s highest-paid employee, Continue reading “The Speed Museum’s new tax return reveals CEO d’Humières’s annual pay ($300K), and a larger window on non-profit finances”

Slime time: In the genteel world of old-money philanthropy, pizza king Schnatter is busting loose

By Jim Hopkins
Boulevard Publisher

When Tom Jurich chases the money John Schnatter gives to charity every year, it’s the ever-prowling cats that pose competition.

No — not those ones. I’m referring to the snow leopard and other big cats at Louisville Zoo, just five miles from Papa John’s Cardinal Stadium, the University of Louisville colossus about to undergo a $55 million renovation that athletics director Jurich wants done in just two years.

Schnatter, 54, loves U of L. He’s donated more than $20 million to the 22,000-student school over the past decade, winning naming rights for his Louisville-based pizza chain for decades to come. (And Schnatter’s a Ball State graduate, to boot.)

Papa John's logoBut he also likes other charities — especially the zoo, according to the most recent IRS tax returns for his John H. Schnatter Family Foundation, which filed its 2015 return only last week. The returns show the foundation gave $111,000 to the zoo in 2012-2015; only one other recipient — U of L — got more, among the dozens of charities Schnatter and his wife Annette support. And that was on top of $1.1 million they donated to the zoo in 2008. To be sure, the zoo was just barely ahead of No. 3 on the foundation’s gift list (keep reading).

The returns offer an inside look at how one of the city’s richest couples — we’re talking $800 million — positions themselves in a pecking order where the right kind of philanthropy is the ticket to top-drawer society. This much is clear: the Schnatters don’t give a flying fig about old-money Louisville. They’re passing on virtually all the usual suspects: the Speed Museum, Actors Theatre, Kentucky Opera, the Fund for the Arts — cultural war horses favored by more established families like the Browns and their 150-year-old whiskey fortune, or the Binghams and their faded media empire from 1918.

Instead, the Schnatters devoted their relatively modest $1.9 million to 86 charities over the four years I examined, focused heavily on helping children and veterans; animal welfare and — crucially, for anxious development officers — advancing John Schnatter’s growing interest in free enterprise and limited government.

But he’s never been old money, anyway.

1980s: bustin’ out

After graduating from Ball State University in 1983, Schnatter started Papa John’s in a broom closet at his father’s tavern, Mike’s Lounge, which he famously saved from ruin with $2,800 he got selling his prized 1972 Camaro. Nearly 32 years and many millions of pies later, he stars in his own TV commercials blanketing the air, proving he’s not above getting dirty to make a sale — literally. In a Sony Pictures marketing tie-in this summer, he played a slimed Ghostbuster pizza delivery guy; that’s a still photo, top of page. (Can you imagine Brown-Forman Chairman George Garvin Brown IV dressed as a dancing mint julep for an Old Forester spot? Neither can I.)

Tom Jurich
Jurich

No matter. Schnatter’s laughing all the way  to the bank. Today, Papa John’s has more than 4,700 restaurants in 38 countries and territories. Its 22,000 employees include 750 in Louisville. And his stake in the $2.8 billion behemoth just soared past $800 million for the first time. That’s a lot of loot that’s arrived relatively fast. On a split-adjusted basis, Papa John’s stock has increased six-fold in the past five years alone. The question over at U of L: How much of that will Jurich wrangle for his $55 million stadium project? Continue reading “Slime time: In the genteel world of old-money philanthropy, pizza king Schnatter is busting loose”

Lee Thomas, businessman and philanthropist, is dead at 90

Image
Thomas

Lee B. Thomas Jr. helped found the ACLU of Kentucky and marched with the Rev. Martin Luther King Jr. in Louisville; he died yesterday, according to The Courier-Journal. Thomas and his wife established the Joan and Lee Thomas Foundation; with $19 million in assets, it ranks among the biggest in the city.

Ali Center to salute McCain, Gossett, three others at annual awards ceremony

The Muhammad Ali Center said today it would honor leaders from the worlds of philanthropy, entertainment, and business at the fourth annual Muhammad Ali Humanitarian Awards, Sept. 17 in Louisville.

Muhammad Ali
In 1967.

This year’s will be the first since the Louisville native, prize fighter and globally famous humanitarian Muhammad Ali died, in June in Phoenix, after a decades-long battle against Parkinson’s disease. He was buried a week later at Cave Hill Cemetery during a funeral that drew luminaries from government, politics and entertainment across the world.

He and his wife Lonnie co-founded the Ali Center, which opened in November 2005, and attended each of the previous year’s Muhammad Ali Humanitarian Awards. She will speak at this year’s ceremony, and present several of the awards. The honorees:

  • Philanthropist and businesswoman Cindy Hensley McCain (top photo, left) will receive the Muhammad Ali Humanitarian Award for Lifetime Achievement; she is the wife of Arizona Sen. John McCain.
  • Academy Award-winning actor and humanitarian Louis Gossett Jr. (top, right) will get the Muhammad Ali Humanitarian Award for Education.
  • Tony Award-winning actress, singer and activist Sheryl Lee Ralph will receive the Muhammad Ali Humanitarian Award for Global Citizenship.
  • Grammy Award-winning singer/songwriter and humanitarian Jon Secada will be honored with the Muhammad Ali Humanitarian of the Year Award.
  • John Rosenberg of Prestonburg, Ky., an attorney and founding director of the Appalachian Research and Defense Fund of Kentucky, will get the the Muhammad Ali Kentucky Humanitarian Award.

Here are the detailed biographies of the honorees provided by the Ali Center: Continue reading “Ali Center to salute McCain, Gossett, three others at annual awards ceremony”

‘The bottom line is, we’re a little bit ahead of our time. To me, the big shame is when you don’t dream big’

Greg Fischer
Fischer

That’s Louisville Mayor Greg Fischer, speaking to The Courier-Journal today about the unexpected failure of West Louisville FoodPort, which developers at Seed Capital Kentucky announced yesterday.

The Brown family donated $382,000 to the project since 2012, making the project’s collapse a rare defeat for the founding family of whiskey giant Brown-Forman.

Editor’s note: An earlier version of this post misattributed the quote to philanthropist Stephen Reiley, co-founder of Seed Capital.