MONEY

Ramsey aide Kathleen Smith out at foundation

Andrew Wolfson
@adwolfson

Kathleen Smith, former University of Louisville President James Ramsey’s chief of staff, is out at the university’s fundraising arm, the U of L Foundation.

Kathleen Smith

Smith, who retired from the university this month, had said she wanted to stay on at the foundation through the end of the year to complete some projects.

But the foundation’s chairman, Brucie Moore, announced in an email to members of the board of trustees that she has been placed on paid leave.

The email says in its entirety, “I wanted to make you aware that Kathleen Smith has been placed on paid administrative leave from the foundation.”

Placing Smith on paid leave was among many demands that trustees issued to the board to avoid a lawsuit.

Larry Benz, the board's chairman, said in an email: "While I will not comment on any specific action, I can only emphasize that ULF and UL boards of trustees are now working together very cooperatively and are 100 percent aligned for what is in the best interests of the University of Louisville."

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In a statement, Moore declined to comment on Smith's departure, saying she wants to treat every "individual fairly and with dignity." But she plans to review all foundation personnel and make recommendations to its board.

“We are working very hard to answer questions from key stakeholders, review our governance, hire an executive director, and ultimately move this foundation forward to maintain its role as a critical partner to the university," Moore said.

Smith, 69, officially the foundation’s assistant secretary, ran its day-to-day operations. She referred questions to her attorney, Ann Oldfather, who said Smith is set to retire July 31 from the foundation and is willing to leave for good or to return to work. "If she has to leave, we will work that out," Oldfather said.

She said Smith is willing to do what's best for the university and the foundation and "loves both."

Oldfather said Smith has earned "every penny" that both have paid her and "should be leaving with a parade thrown for her."

Smith, who received as much as $1.4 million in total compensation from the foundation in 2012, was paid $859,181 in 2014, according to its most recent tax return.

Smith is also due this year to receive $51,100 from the foundation’s real estate holding company out of money the foundation withdrew from the university’s endowment and lent to the holding company. The foundation’s chief foundation officer, Jason Tomlinson, said that he, Smith and Ramsey approved the payments to Smith and four other employees who worked in the president’s office.

Ramsey was forced to resign as university president in July and resigned as foundation president this month.

Reporter Andrew Wolfson can be reached at (502) 582-7189 or awolfson@courier-journal.com.

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