Civic Intelligence

Wake Forest University Foundation

990 • Fiscal year 2022 • EIN 56-2038193

Jul 01, 2021 to Jun 30, 2022 • Filed on May 11, 2023

Organization ProfileN/A
PO Box 7201WinstonSalem, NC 27109

(336) 758-5233

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

56th percentile

0.33x

Higher debt load relative to assets than 56% of similar nonprofits.

2022 filings • NTEE B • $5M-$10M nonprofits • Source year 2022

Liabilities / Revenue

100th percentile

70.77x

Higher debt load relative to revenue than 100% of similar nonprofits.

2022 filings • NTEE B • $5M-$10M nonprofits • Source year 2022

Net Margin

1st percentile

-516%

Higher net margin than 1% of similar nonprofits.

2022 filings • NTEE B • $5M-$10M nonprofits • Source year 2022

Top Officer Pay

100th percentile

$2,343,149

Higher top officer pay than 100% of similar nonprofits.

Top officer pay equals 7174.4% of source-year revenue.

2022 filings • NTEE B • $5M-$10M nonprofits • Source year 2022

Asset Growth

5th percentile

-21%

Faster asset growth than 5% of similar nonprofits.

2022 filings • NTEE B • $5M-$10M nonprofits • Annualized from 2021 to 2022

Revenue Growth

72nd percentile

27%

Faster revenue growth than 72% of similar nonprofits.

2022 filings • NTEE B • $5M-$10M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets56th percentile

Assets

Down

$7,089,565

Down $1,935,988 (-21%) from 2021

Net Assets

Down

$4,778,366

Down $159,005 (-3.2%) from 2021

Liabilities

Down

$2,311,199

Down $1,776,983 (-43%) from 2021

Revenue And Expenses
Liabilities / Revenue100th percentileNet Margin1st percentile

Revenue

Up

$32,660

Up $6,878 (+27%) from 2021

Expenses

Down

$201,138

Down $63,925 (-24%) from 2021

Net Income

Up

-$168,478

Up $70,803 (+30%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth5th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$15M$10M$5.0M$0Assets 2010: $14,876,580Liabilities 2010: $825,017Net Assets 2010: $14,051,5632010Assets 2011: $11,680,835Liabilities 2011: $2,082,798Net Assets 2011: $9,598,0372011Assets 2012: $11,530,955Liabilities 2012: $2,314,107Net Assets 2012: $9,216,8482012Assets 2013: $11,347,440Liabilities 2013: $2,529,145Net Assets 2013: $8,818,2952013Assets 2014: $11,249,055Liabilities 2014: $2,745,979Net Assets 2014: $8,503,0762014Assets 2015: $11,139,747Liabilities 2015: $2,933,493Net Assets 2015: $8,206,2542015Assets 2016: $11,035,532Liabilities 2016: $3,117,703Net Assets 2016: $7,917,8292016Assets 2017: $10,937,973Liabilities 2017: $3,305,379Net Assets 2017: $7,632,5942017Assets 2018: $10,806,166Liabilities 2018: $3,489,215Net Assets 2018: $7,316,9512018Assets 2019: $10,674,918Liabilities 2019: $3,686,718Net Assets 2019: $6,988,2002019Assets 2020: $9,248,798Liabilities 2020: $3,868,963Net Assets 2020: $5,379,8352020Assets 2021: $9,025,553Liabilities 2021: $4,088,182Net Assets 2021: $4,937,3712021Assets 2022: $7,089,565Liabilities 2022: $2,311,199Net Assets 2022: $4,778,3662022Assets 2023: $7,526,237Liabilities 2023: $2,479,913Net Assets 2023: $5,046,3242023Assets 2024: $5,869,353Liabilities 2024: $73,859Net Assets 2024: $5,795,4942024

Highlighted filing

2022

Assets$7,089,565
Liabilities$2,311,199
Net Assets$4,778,366
Open 2022 Filing

Operations Trend

Revenue Growth72nd percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $1,422,6052010Expenses 2011: $4,538,6502011Expenses 2012: $441,7602012Expenses 2013: $438,9882013Revenue 2014: $32,744Expenses 2014: $351,704Net Income 2014: -$318,9602014Revenue 2015: $24,317Expenses 2015: $324,379Net Income 2015: -$300,0622015Revenue 2016: $21,163Expenses 2016: $403,670Net Income 2016: -$382,5072016Revenue 2017: $23,522Expenses 2017: $413,275Net Income 2017: -$389,7532017Revenue 2018: $37,694Expenses 2018: $353,337Net Income 2018: -$315,6432018Revenue 2019: $13,664Expenses 2019: $339,782Net Income 2019: -$326,1182019Revenue 2020: $15,255Expenses 2020: $313,534Net Income 2020: -$298,2792020Revenue 2021: $25,782Expenses 2021: $265,063Net Income 2021: -$239,2812021Revenue 2022: $32,660Expenses 2022: $201,138Net Income 2022: -$168,4782022Revenue 2023: $165,184Expenses 2023: $259,187Net Income 2023: -$94,0032023Revenue 2024: $156,092Expenses 2024: $284,826Net Income 2024: -$128,7342024

Highlighted filing

2022

Revenue$32,660
Expenses$201,138
Net Income-$168,478
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
May 11, 2023
Return Version
2021v4.2
Gross Receipts
$2,410,107
Mission and Program Overview

Mission

The organization operates as a supporting organization exclusively for the benefit of Wake Forest University ("WFU"). Its objectives include: (1) serving as a holding and management company for long-term properties and endowments; (2) managing planned-giving properties and programs; (3) assisting in WFU development; (4) obtaining, acquiring, receiving, constructing, erecting or otherwise providing real and personal property; improving properties to which the organization holds title; and holding, retaining, leasing, licensing, renting, managing, investing, reinvesting, selling, or otherwise disposing of or assigning the income from and/or rights in or to real and personal property; and (5) establishing subsidiary organizations or entities.

The organization operates as a supporting organization of Wake Forest University. It holds, improves, leases and manages long-term properties and endowments and supports WFU through such activities conducted both by itself and through subsidiary organizations.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$8,912,844$6,897,119▼ $2,015,725
Cash and Non-Interest-Bearing Accounts$90,835$177,863▲ $87,028
Accounts Receivable$19,350$14,583▼ $4,767
Inventories for Sale or Use$2,524--
Total Assets$9,025,553$7,089,565▼ $1,935,988
Liabilities
Other Liabilities$4,082,548$2,307,414▼ $1,775,134
Accounts Payable and Accrued Expenses$5,634$3,785▼ $1,849
Total Liabilities$4,088,182$2,311,199▼ $1,776,983
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$4,937,371$4,778,366▼ $159,005
Total Net Assets Fund Balance$4,937,371$4,778,366▼ $159,005
Total Liabilities and Net Assets / Fund Balance$9,025,553$7,089,565▼ $1,935,988

Asset Categories

AssetBook ValueDepreciationBasis
Land$6,492,004-$6,492,004
Buildings$399,422$1,271,481$1,670,903
Equipment$0$22,961$22,961
Other Land Buildings$0$9,300$9,300
Leasehold Improvements$5,693$1,574$7,267
Compensation and Service Providers
Top Officer Pay100th percentile

Board Members and Trustees

NameTitle
Mit B ShahChair
Susan R Wente PhDPresident
Robert J McCrearyVice Chair
Aubrey L MartinTrustee
Cantey M ErgenTrustee
Curtis C FarmerTrustee
Diana AdamsTrustee
Helen Hough FeinbergTrustee
James M O'ConnellTrustee
John M McAvoyTrustee
Marybeth Torbet HaysTrustee
Michael J SelverianTrustee
Ogden Phipps IITrustee
Anita M ConradAsst. Secretary
J Reid MorganSecretary
B Hofler MilamVP & Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$20,536
Investment Income
$0
Other Revenue
$12,124
Change in Net Assets
$-168,478

Audited Revenue Reconciliation

Revenue per Audited Statements
$32,660
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$184,889
Total Revenue per Audited Statements
$217,549
Total Revenue per Form 990
$32,660
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$201,138
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$33,553--$33,553
Insurance$7,854--$7,854
Depreciation Depletion$7,136--$7,136
Other Expenses$4,000--$4,000
Office Expenses$3,609--$3,609
Fees for Services Other$2,528--$2,528
Fees for Services Management$1,575--$1,575
Total Functional Expenses$201,138$0$0$201,138

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$376,069
Total Expenses per Form 990$201,138
Expenses per Audited Statements$191,180
Expenses Not Reported on Form 990$184,889
Expenses Not Reported on Financial Statements$9,958
Other Expense Adjustments$9,958
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Wake Forest University$2,299,490
Asset Retirement Obligation$6,378
Deferred Revenue$1,546
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, line 7A

“Line 7a explanation - The filing organization's governing body is elected by the governing body of the filing organization's supported organization, Wake Forest University.”

Form 990, Part VI, Section B, line 11B

“Line 11b Explanation - The organization sends a draft of the Form 990 to its Board of Trustees prior to its filing, allowing adequate time for follow-up questions and comments. The organization provides a copy of the Form 990 as finalized to all members of the Board of Trustees prior to filing it with the IRS.”

Form 990, Part VI, Section B, line 12C

“The organization requires officers and trustees to annually review the organization's Conflicts of Interest Policy and to disclose annually (and as they arise) any potential conflicts of interest. The policy provides a process for the determination of conflicts of interest and the resolution of potential and actual conflicts by the remaining independent Board members (or an independent third party appointed by the Chair, when appropriate).”

Form 990, Part VI, Section B, line 15

“The filing organization has no employees, but officers receive compensation for employment with the related organization, Wake Forest University. Compensation review and approval are performed in that entity. The President(CEO)receives compensation for full-time employment with the related organization, Wake Forest University. Compensation review and approval are performed in that entity.”

Form 990, Part VI, Section C, line 19

“The organization's Articles of Incorporation are available to the public on request and are available on the website of the North Carolina Secretary of State. The organization's bylaws are not published, but provisions from the bylaws are included as necessary in the organization's policies. The organization's conflicts of interest policy is available to the public upon request. The organization is included in the consolidated financial statements of related organization, Wake Forest University, which are available to the public on the University's website: www.wfu.edu.”

Form 990 Part VII

“Hours Allocated to This and Other Related and Affiliated Organizations: J. Reid Morgan Filing Organization: 0.2 hours Related Organizations: 33.8 hours Affiliated Orgs: 6.0 hours Susan R. Wente, Ph.D. Filing Organization: 0.2 hours Related Organizations: 34.3 hours Affiliated Orgs: 5.5 hours B. Hofler Milam Filing Organization: 0.2 hours Related Organizations: 39.8 hours Affiliated Orgs: 0.0 hours Anita Conrad Filing Organization: 0.4 hours Related Organizations: 36.6 hours Affiliated Orgs: 3.0 hours”

Form 990 Part VIII Line 7

“Property held within the Wake Forest University Foundation was transferred to the parent organization Wake Forest University. The assets of Deacon Blvd Holdings III, LLC, Deacon Blvd Holdings IV, LLC, Deacon Blvd Holdings XV, LLC, and Deacon Blvd Holdings XVI, LLC, all single member limited liability companies wholly owned by Wake Forest University Foundation, were transferred to Wake Forest University on December 15, 2021. The total value of these assets at the date of transfer was $2,241,411.”

Filing and Contact Details

Filer

Filer Name
Wake Forest University Foundation
EIN
56-2038193
Phone
3367585233
Address
PO Box 7201, WinstonSalem, NC 27109

Signing Officer

Name
Bruce Hofler Milam
Title
VP & Treasurer
Phone
3367585233
Signed
2023-05-11

Organization Details

Principal Officer
Susan R Wente PhD
Formed
1996
Legal Domicile
Nc
Voting Board Members
12
Independent Board Members
12
Employees
0
Volunteers
12
Supplemental Narrative

Additional Explanations

Form 990, Part XI, line 9:

“Book/Tax Reclass Items 9,473.”

Financial Statement Notes

Part X, Line 2:

“The filing organization is not required to provide a FIN 48 Statement separate from its parent, Wake Forest University, with which it prepares a consolidated financial statement. There are no known FIN 48 disclosure items in the Foundation. The footnote for income taxes from the consolidated financial statements of its parent, Wake Forest University, is as follows: The University is a tax-exempt organization as described in Section 501(c)(3) of the Internal Revenue Code (the Code) and is generally exempt from federal income taxes on related income pursuant to Section 501(a) of the Code. If applicable, unrelated business income is reported by all member and subsidiary organizations on IRS Form 990-T. Fiscal years ending on or after June 30, 2018 remain subject to examination by federal and state tax authorities. The University has evaluated uncertain tax positions for the years ended June 30, 2022, including a quantification of tax risks in areas such as unrelated business income and taxation of its for-profit subsidiaries. This evaluation did not identify any material items that affect the consolidated financial statements for the year ended June 30, 2022.”

Part XI, Line 2D - Other Adjustments:

“Rental Expense Reclass 136,035.”

Part XII, Line 2D - Other Adjustments:

“Rental Expense Reclass 136,035.”

Part XII, Line 4B - Other Adjustments:

“Book/Tax Reclass Items 9,958.”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/PersonNm11Michael J Selverian
IRS990/Form990PartVIISectionAGrp/PersonNm12B Hofler Milam
IRS990/Form990PartVIISectionAGrp/PersonNm13J Reid Morgan
IRS990/Form990PartVIISectionAGrp/PersonNm14Susan R Wente PhD
IRS990/Form990PartVIISectionAGrp/PersonNm15Anita M Conrad
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt122133852
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt131218034
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt14692191
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt15205155
IRS990/Form990PartVIISectionAGrp/TitleTxt0Chair
IRS990/Form990PartVIISectionAGrp/TitleTxt1Vice Chair
IRS990/Form990PartVIISectionAGrp/TitleTxt2Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt3Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt4Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt5Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt6Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt7Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt8Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt9Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt10Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt11Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt12VP & Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt13Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt14President
IRS990/Form990PartVIISectionAGrp/TitleTxt15Asst. Secretary
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/Form990TFiledInd01
IRS990/FormationYr01996
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/ConsolidatedBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GainOrLossGrp/OtherAmt00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt012
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossAmountSalesAssetsGrp/OtherAmt02241411
IRS990/GrossReceiptsAmt02410107
IRS990/GrossRentsGrp/RealAmt0148160
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd00
IRS990/IndependentVotingMemberCnt012
IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartVIIIInd0X
IRS990/InfoInScheduleOPartVIIInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIInd0X
IRS990/InsuranceGrp/ProgramServicesAmt07854
IRS990/InsuranceGrp/TotalAmt07854
IRS990/InventoriesForSaleOrUseGrp/BOYAmt02524
IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt00
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt01305316
IRS990/LandBldgEquipBasisNetGrp/BOYAmt08912844
IRS990/LandBldgEquipBasisNetGrp/EOYAmt06897119
IRS990/LandBldgEquipCostOrOtherBssAmt08202435
IRS990/LegalDomicileStateCd0NC
IRS990/LessCostOthBasisSalesExpnssGrp/OtherAmt02241411
IRS990/LessRentalExpensesGrp/RealAmt0136036
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0The organization operates as a supporting organization exclusively for the benefit of Wake Forest University ("WFU"). Its objectives include: (1) serving as a holding and management company for long-term properties and endowments; (2) managing planned-giving properties and programs; (3) assisting in WFU development; (4) obtaining, acquiring, receiving, constructing, erecting or otherwise providing real and personal property; improving properties to which the organization holds title; and holding, retaining, leasing, licensing, renting, managing, investing, reinvesting, selling, or otherwise disposing of or assigning the income from and/or rights in or to real and personal property; and (5) establishing subsidiary organizations or entities.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt04937371
IRS990/NetAssetsOrFundBalancesEOYAmt04778366
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt012124
IRS990/NetRentalIncomeOrLossGrp/UnrelatedBusinessRevenueAmt012124
IRS990/NetUnrelatedBusTxblIncmAmt011124
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt04937371
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt04778366
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ProgramServicesAmt033553
IRS990/OccupancyGrp/TotalAmt033553
IRS990/OfficeExpensesGrp/ProgramServicesAmt03609
IRS990/OfficeExpensesGrp/TotalAmt03609
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherChangesInNetAssetsAmt09473
IRS990/OtherExpensesGrp/Desc0Property Taxes
IRS990/OtherExpensesGrp/Desc1Repairs and Maintenance
IRS990/OtherExpensesGrp/Desc2Miscellaneous
IRS990/OtherExpensesGrp/ProgramServicesAmt0119994
IRS990/OtherExpensesGrp/ProgramServicesAmt120889
IRS990/OtherExpensesGrp/ProgramServicesAmt24000
IRS990/OtherExpensesGrp/TotalAmt0119994
IRS990/OtherExpensesGrp/TotalAmt120889
IRS990/OtherExpensesGrp/TotalAmt24000
IRS990/OtherLiabilitiesGrp/BOYAmt04082548
IRS990/OtherLiabilitiesGrp/EOYAmt02307414
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0Susan R Wente PhD
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0812930
IRS990/ProgramServiceRevenueGrp/Desc0Facility Management
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt020536
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt020536
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt00
IRS990/PYOtherExpensesAmt0265063
IRS990/PYOtherRevenueAmt025782
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt0-239281
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt0265063
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt025782
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-168478
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/RentalIncomeOrLossGrp/RealAmt012124
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/Contribution35ControlledInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionControllerInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionFamilyInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ControlledDisqualifiedPrsnInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnControllIntInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnOwnrIntInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ExcessBusinessHoldingsRulesInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ListedByNameGoverningDocInd01
IRS990ScheduleA/Form990SchASupportingOrgGrp/LoanDisqualifiedPersonInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/OrganizationChangeSuprtOrgInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/PaymentSubstantialContribtrInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgNotOrganizedUSInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgSectionC456Ind00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportNonSupportedOrgInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SuprtOrgNoIRSDeterminationInd00
IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/OperateBenefitNonSuprtOrgInd00
IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/PowerAppointMajorityDirTrstInd01
IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/SupportedOrganizationsCnt01
IRS990ScheduleA/SupportedOrganizationsTotalCnt01
IRS990ScheduleA/SupportedOrgInformationGrp/EIN0560532138
IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd01
IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeCd02
IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0Wake Forest University
IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType1Ind0X
IRS990ScheduleA/SupportSumAmt00
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt0399422
IRS990ScheduleD/BuildingsGrp/DepreciationAmt01271481
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01670903
IRS990ScheduleD/DonatedServicesAndUseFcltsAmt048854
IRS990ScheduleD/DonatedServicesUseFcltsAmt048854
IRS990ScheduleD/EquipmentGrp/BookValueAmt00
IRS990ScheduleD/EquipmentGrp/DepreciationAmt022961
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt022961
IRS990ScheduleD/ExpensesNotReportedAmt0184889
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt09958
IRS990ScheduleD/ExpensesSubtotalAmt0191180
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt06492004
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt06492004
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt05693
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt01574
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt07267
IRS990ScheduleD/OtherExpensesIncludedAmt0136035
IRS990ScheduleD/OtherExpensesNotIncludedAmt09958
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt09300
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt09300
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt06378
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt12299490
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt21546
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Asset Retirement Obligation
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Due to Wake Forest University
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2Deferred Revenue
IRS990ScheduleD/OtherRevenueAmt0136035
IRS990ScheduleD/RevenueNotReportedAmt0184889
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt032660
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The filing organization is not required to provide a FIN 48 Statement separate from its parent, Wake Forest University, with which it prepares a consolidated financial statement. There are no known FIN 48 disclosure items in the Foundation. The footnote for income taxes from the consolidated financial statements of its parent, Wake Forest University, is as follows: The University is a tax-exempt organization as described in Section 501(c)(3) of the Internal Revenue Code (the Code) and is generally exempt from federal income taxes on related income pursuant to Section 501(a) of the Code. If applicable, unrelated business income is reported by all member and subsidiary organizations on IRS Form 990-T. Fiscal years ending on or after June 30, 2018 remain subject to examination by federal and state tax authorities. The University has evaluated uncertain tax positions for the years ended June 30, 2022, including a quantification of tax risks in areas such as unrelated business income and taxation of its for-profit subsidiaries. This evaluation did not identify any material items that affect the consolidated financial statements for the year ended June 30, 2022.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1Rental Expense Reclass 136,035.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2Rental Expense Reclass 136,035.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt3Book/Tax Reclass Items 9,958.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X, Line 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Part XI, Line 2d - Other Adjustments:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2Part XII, Line 2d - Other Adjustments:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc3Part XII, Line 4b - Other Adjustments:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt06897119
IRS990ScheduleD/TotalExpensesPerForm990Amt0201138
IRS990ScheduleD/TotalLiabilityAmt02307414
IRS990ScheduleD/TotalRevenuePerForm990Amt032660
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0217549
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0376069
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt20

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$7,089,565
Liabilities
$2,311,199
Net assets
$4,778,366
Revenue
$32,660
Expenses
$201,138
Net income
-$168,478
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$5.87$0.07$5.80$0.16$0.28$0.13
2023Detailed filing. Detailed filing data is available for this year.$7.53$2.48$5.05$0.17$0.26$0.09
2022Detailed filing. Detailed filing data is available for this year.$7.09$2.31$4.78$0.03$0.20$0.17
2021Detailed filing. Detailed filing data is available for this year.$9.03$4.09$4.94$0.03$0.27$0.24
2020Detailed filing. Detailed filing data is available for this year.$9.25$3.87$5.38$0.02$0.31$0.30
2019Detailed filing. Detailed filing data is available for this year.$10.7$3.69$6.99$0.01$0.34$0.33
2018Detailed filing. Detailed filing data is available for this year.$10.8$3.49$7.32$0.04$0.35$0.32
2017Detailed filing. Detailed filing data is available for this year.$10.9$3.31$7.63$0.02$0.41$0.39
2016Detailed filing. Detailed filing data is available for this year.$11.0$3.12$7.92$0.02$0.40$0.38
2015Detailed filing. Detailed filing data is available for this year.$11.1$2.93$8.21$0.02$0.32$0.30
2014Detailed filing. Detailed filing data is available for this year.$11.2$2.75$8.50$0.03$0.35$0.32
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.3$2.53$8.82$0.44
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.5$2.31$9.22$0.44
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.7$2.08$9.60$4.54
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$14.9$0.83$14.1$1.42
Peer Organizations

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