Louisville, KY (APRIL 15, 2026) – The University of Louisville Foundation today announced Executive Director and Chief Operating Officer Keith Sherman will retire effective July 31, 2026, concluding a decade of leadership, which is marked by significant growth and long-term financial strength for the Foundation.
During his 10-year tenure, Sherman oversaw and transformed the Foundation’s operations, helping guide it to record levels of endowment and asset growth while establishing governance best practices, and operational controls that position the Foundation to continue advancing the mission of the University of Louisville for years to come.
“Serving the University of Louisville has been an incredible honor,” said Keith Sherman. “Over the past decade, I’ve had the privilege of working alongside an exceptional team and board members and witnessing the Foundation’s continued growth. Today, the Foundation is in its strongest position in history to sustain its impact and support the University’s mission well into the future.”
Over the past decade, the University of Louisville Foundation has rebuilt its financial strength and positioned itself as a very stable, high-performing steward of donor investment, with a compliance program ensuring donor funds are spent only as donors intend. Today, the Foundation manages more than $1.6 billion in total assets while delivering measurable impact across the university.
Mark Nickel, Chair of the University of Louisville Foundation Board, noted these results reflect a decade-long commitment to disciplined governance, strategic investment, and transparency, ensuring long-term stability while continuing to drive meaningful outcomes for students, faculty, and the broader community.
“Thanks to his vision and commitment, Keith’s leadership and hard work over the past 10 years has been instrumental in re-shaping the Foundation into the strong, stable organization it is today,” said Nickel. “We are grateful for his service and lasting impact.”
The University also recognized Sherman’s contributions and the Foundation’s importance to its future.
“Keith has played a critical role in advancing the University’s mission through his leadership of the Foundation,” said Gerry Bradley, President of the University of Louisville. “Because of his work, the Foundation is in an exceptional position to continue supporting our students, faculty, and community. We thank him for his dedication and wish him the very best in his retirement.”
A nationwide search will begin for the Foundation’s next Executive Director, who will build upon this strong foundation and continue to drive impact across the University and Louisville community. Sherman has agreed to stay until a successful transition can be made.
About the University of Louisville Foundation
The University of Louisville Foundation provides sources of funding used to promote the University’s success today and into the future. The Foundation was founded in 1970 and is overseen by a board of directors. The Foundation is an independent 501 (c)(3) not-for-profit corporation that holds, invests, and provides funds to support the University consistent with donor intent. These funds are essential to the success of the University, its students, the faculty, and the campus.