Liabilities / Assets
89th percentile
Higher debt load relative to assets than 89% of similar nonprofits.
Wake Forest University Development Foundation
990 • Fiscal year 2020 • EIN 56-2038194
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.42x
Liabilities / Revenue
Score unavailable
Liabilities-to-revenue requires both liabilities and revenue on this filing.
Net Margin
99th percentile
Higher net margin than 99% of similar nonprofits.
Top Officer Pay
100th percentile
Higher top officer pay than 100% of similar nonprofits.
Asset Growth
19th percentile
Faster asset growth than 19% of similar nonprofits.
Revenue Growth
Score unavailable
A valid growth rate could not be computed from the available filing history.
Balance Sheet
Assets
Down$310,327
Down $76,145 (-20%) from 2019
Net Assets
Down$181,364
Down $78,521 (-30%) from 2019
Liabilities
Up$128,963
Up $2,376 (+1.9%) from 2019
Revenue And Expenses
Revenue
Down-$73,169
Down $82,590 (-877%) from 2019
Expenses
Down$17,692
Down $348,966 (-95%) from 2019
Net Income
Up-$90,861
Up $266,376 (+75%) from 2019
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jul 1, 2019 to Jun 30, 2020
- Signed
- May 14, 2021
- Return Version
- 2019v5.0
- Gross Receipts
- $58,420
Mission and Program Overview
Mission
The organization operates as a supporting organization exclusively for the benefitof Wake Forest University ("WFU") and its wholly-controlled supporting organization,Wake Forest University Foundation ("WFUF"), each of which supported organizationsare 501 (c)(3) organizations. The organization's purposes include: (1) serving asthe recipient of properties contributed to the supported organizations (or theiraffiliate, Wake Forest University Health Sciences), to be held temporarily; (2)managing short-term contributed properties; (3) determining whether and whenprospective contributions of real or personal property should be accepted, retained,liquidated or transferred; (4) obtaining, acquiring, receiving, constructing,erecting or improving properties to which the organization holds title; holding,retaining, leasing, managing, selling, disposing of, or assigning the income fromand/or rights in or to real and personal property; and (5) establishing subsidiaryorganizations or entities.
The organization operates as a supporting organization exclusively for the benefit of Wake Forest University, Wake Forest University Health Sciences, and Reynolda House, Inc., by holding, maintaining and selling real and personal property that has been donated for the benefit of one or more of the supported entities.
Balance Sheet Detail
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Investments Program Related | $371,880 | $274,140 | ▼ $97,740 |
| Cash and Non-Interest-Bearing Accounts | $13,009 | $36,187 | ▲ $23,178 |
| Accounts Receivable | $1,583 | $0 | ▼ $1,583 |
| Savings and Temporary Cash Investments | - | $0 | - |
| Other Notes and Loans Receivable, Net | - | $0 | - |
| Pledges and Grants Receivable | - | $0 | - |
| Receivable From Disqualified Prsn | - | $0 | - |
| Receivables From Officers Etc | - | $0 | - |
| Investments Other Securities | - | $0 | - |
| Investments in Publicly Traded Securities | - | $0 | - |
| Land, Buildings, and Equipment, Net | - | $0 | - |
| Intangible Assets | - | $0 | - |
| Inventories for Sale or Use | - | $0 | - |
| Prepaid Expenses and Deferred Charges | - | $0 | - |
| Total Assets | $386,472 | $310,327 | ▼ $76,145 |
| Other Assets Total | - | $0 | - |
| Liabilities | |||
| Other Liabilities | $126,587 | $128,963 | ▲ $2,376 |
| Total Liabilities | $126,587 | $128,963 | ▲ $2,376 |
| Net Assets / Fund Balance | |||
| Net Assets With Donor Restrictions | $324,052 | $248,752 | ▼ $75,300 |
| Net Assets Without Donor Restrictions | $-64,167 | $-67,388 | ▼ $3,221 |
| Total Net Assets Fund Balance | $259,885 | $181,364 | ▼ $78,521 |
| Total Liabilities and Net Assets / Fund Balance | $386,472 | $310,327 | ▼ $76,145 |
Compensation and Service Providers
Board Members and Trustees
| Name | Title |
|---|---|
| Frank B Holding Jr | Chair |
| Nathan O Hatch PhD | President |
| Harold O Rosser | Vice Chair |
| Curtis C Farmer | Trustee |
| Diana Adams | Trustee |
| Eric Wiseman | Trustee |
| James M O'Connell | Trustee |
| John R Lowden | Trustee |
| Jorge Rodriguez | Trustee |
| Lisbeth Clark Evans | Trustee |
| Shannon Spence Townsend | Trustee |
| Anita M Conrad | Asst. Secretary |
| J Reid Morgan | Secretary |
| B Hofler Milam | VP & Treasurer |
Highest Paid Contractors
| Contractor | Services | Location | Compensation |
|---|---|---|---|
| None | - | - | - |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $16,400
- Program Service Revenue
- $0
- Investment Income
- $-89,569
- Other Revenue
- $0
- All Other Contributions
- $16,400
- Change in Net Assets
- $-90,861
Audited Revenue Reconciliation
- Revenue per Audited Statements
- $-73,169
- Revenue Not Reported on Form 990
- $116,776
- Total Revenue per Audited Statements
- $43,607
- Total Revenue per Form 990
- $-73,169
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Other Expenses | $11,611 |
| Grants and Similar Amounts Paid | $6,081 |
| Professional Fundraising Fees | $0 |
| Salaries, Compensation, and Employee Benefits | $0 |
| Total Fundraising Expense | $0 |
Functional Expense Allocation
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Grants to Domestic Orgs | $6,081 | - | - | $6,081 |
| Fees for Services Management | $3,721 | - | - | $3,721 |
| Other Expenses | $1,690 | - | - | $1,690 |
| Total Functional Expenses | $17,692 | $0 | $0 | $17,692 |
Audited Expense Reconciliation
| Line Item | Amount |
|---|---|
| Total Expenses per Audited Statements | $72,129 |
| Expenses Not Reported on Form 990 | $54,437 |
| Expenses per Audited Statements | $17,692 |
| Total Expenses per Form 990 | $17,692 |
International Activity
Grant and Assistance Recipients
| Recipient | Location | Category | Purpose | Amount |
|---|---|---|---|---|
| Wake Forest University | WinstonSalem, NC | 501(c)(3) | Scholarships and Program Support | $6,081 |
Fundraising, Events, and Gaming
- Fundraising activities
- No
- Gaming activities
- No
- Professional fundraiser used
- No
Fundraising and Gaming Totals
| Line Item | Amount |
|---|---|
| Professional Fundraising Fees | $0 |
Political and Lobbying Activity
- Political campaign activity
- No
- Lobbying activity
- No
- Subject to proxy tax
- No
Insider Transactions and Loans
Loans and Receivables
| Line Item | Beginning | End | Change |
|---|---|---|---|
| Receivables from Disqualified Persons | - | $0 | - |
| Receivables from Officers, Directors, Trustees, and Key Employees | - | $0 | - |
Debt and Bond Financing
Other Reported Liabilities
| Liability | Amount |
|---|---|
| Due to Wake Forest University | $103,652 |
| Due to WFU Health Sciences | $25,311 |
Governance and Compliance
Governance Checklist
- Compiled or reviewed by an accountant
- No
- Annual disclosure for covered persons
- Yes
- Audit committee
- No
- 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, Line 11B: Form 990 Review Process
“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, Line 12C: Explanation of Monitoring and Enforcement of Conflicts
“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, Line 15A: Compensation Review & Approval Process - CEO, Top Management
“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, Line 15B: Compensation Review and Approval Process for Officers and Key Employees
“The filing organization has no employees, but officers and key employees who receive compensation for full-time employment from the related organization, Wake Forest University, have review and approval performed in that entity.”
Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
“The organization's Restated 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 Wake Forest University, one of the organizations that it supports; these consolidated statements are available to the public on the University's website.”
Form 990 Part VII
“Hours Allocated to This and Other Related and Affiliated Organizations:J. Reid MorganFiling Organization: 0.3 hoursRelated Organizations: 32.7 hoursAffiliated Orgs: 7.0 hoursNathan O. Hatch, Ph.D.Filing Organization: 0.3 hoursRelated Organizations: 33.9 hoursAffiliated Orgs: 5.8 hoursB. Hofler MilamFiling Organization: 0.3 hours Related Organizations: 39.7 hoursAnita ConradFiling Organization: 0.5 hoursRelated Organizations: 36.5 hoursAffiliated Orgs: 3.0 hours”
Filing and Contact Details
Filer
- Filer Name
- Wake Forest University Development Fndtn
- EIN
- 56-2038194
- Phone
- 3367585233
- Address
- POBOX 7201, WinstonSalem, NC 27109
Signing Officer
- Name
- B Hofler Milam
- Title
- VP & Treasurer
- Signed
- 2021-05-14
Organization Details
- Principal Officer
- Nathan O Hatch PhD
- Formed
- 1996
- Legal Domicile
- Nc
- Voting Board Members
- 10
- Independent Board Members
- 10
- Employees
- 0
- Volunteers
- 10
Supplemental Narrative
Additional Explanations
Other Changes In Net Assets Or Fund Balances - Other Increases
“Book prior year expense = $650”
Other Changes In Net Assets Or Fund Balances - Other Decreases
“Book realized loss - sold properties = -$76240”
Other Changes In Net Assets Or Fund Balances - Other Decreases
“Book unrealized loss - new properties = -$1639”
Other Changes In Net Assets Or Fund Balances - Other Increases
“Realized tax loss on Properties = $89568”
Other Changes In Net Assets Or Fund Balances - Other Increases
“Rounding = $1”
Form 990, Part XII, Line 2: Change of Oversight or Selection Process
“This organization does not have any separate committees within its board of trustees that assume responsibility for audit oversight. However, the Audit and Compliance Committee of the Wake Forest University (parent organization of the filing organization) Board of Trustees, assumes such oversight for the filing organization.The Wake Forest University Audit and Compliance Committee chooses the auditor, but the independent audit of the filing organization is reported to both that Committee and to the full board of the filing organization.”
Financial Statement Notes
Part X : FIN48 Footnote
“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, 2017 remain subject to examination by federal and state tax authorities. The University has evaluated uncertain tax positions for the years ended June 30, 2020 and 2019, 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 years ended June 30, 2020.”
Part XI, Line 2D: Other revenue amounts included in F/S but not included on form 990
“Tax loss in excess of book loss $76240 Book allowances for Gift Properties $-1640 Carrying Costs $-11611 Book expense $-650”
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| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 4 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 5 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 6 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 7 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 8 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 9 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 10 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 11 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 12 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 13 | 0 |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 0 | President |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 1 | VP & Treasurer |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 2 | Secretary |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 3 | Asst. Secretary |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 4 | Trustee |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 5 | Trustee |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 6 | Chair |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 7 | Trustee |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 8 | Trustee |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 9 | Trustee |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 10 | Trustee |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 11 | Vice Chair |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 12 | Trustee |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 13 | Trustee |
| IRS990/Form990ProvidedToGvrnBodyInd | 0 | true |
| IRS990/FormationYr | 0 | 1996 |
| IRS990/FormerOfcrEmployeesListedInd | 0 | false |
| IRS990/FSAuditedBasisGrp/ConsolidatedBasisFinclStmtInd | 0 | X |
| IRS990/FSAuditedInd | 0 | true |
| IRS990/FundraisingActivitiesInd | 0 | false |
| IRS990/GainOrLossGrp/OtherAmt | 0 | -89569 |
| IRS990/GamingActivitiesInd | 0 | false |
| IRS990/GoverningBodyVotingMembersCnt | 0 | 10 |
| IRS990/GrantAmt | 0 | 6081 |
| IRS990/GrantsToDomesticIndividualsGrp/TotalAmt | 0 | 0 |
| IRS990/GrantsToDomesticOrgsGrp/ProgramServicesAmt | 0 | 6081 |
| IRS990/GrantsToDomesticOrgsGrp/TotalAmt | 0 | 6081 |
| IRS990/GrantsToIndividualsInd | 0 | false |
| IRS990/GrantsToOrganizationsInd | 0 | true |
| IRS990/GrantToRelatedPersonInd | 0 | false |
| IRS990/GrossAmountSalesAssetsGrp/OtherAmt | 0 | 42020 |
| IRS990/GrossReceiptsAmt | 0 | 58420 |
| IRS990/GroupReturnForAffiliatesInd | 0 | false |
| IRS990/IncludeFIN48FootnoteInd | 0 | true |
| IRS990/IncmFromInvestBondProceedsGrp/TotalRevenueColumnAmt | 0 | 0 |
| IRS990/IndependentAuditFinclStmtInd | 0 | false |
| IRS990/IndependentVotingMemberCnt | 0 | 10 |
| IRS990/IndivRcvdGreaterThan100KCnt | 0 | 0 |
| IRS990/IndoorTanningServicesInd | 0 | false |
| IRS990/InfoInScheduleOPartVIInd | 0 | X |
| IRS990/InfoInScheduleOPartXIIInd | 0 | X |
| IRS990/InfoInScheduleOPartXIInd | 0 | X |
| IRS990/InformationTechnologyGrp/TotalAmt | 0 | 0 |
| IRS990/InsuranceGrp/TotalAmt | 0 | 0 |
| IRS990/IntangibleAssetsGrp/EOYAmt | 0 | 0 |
| IRS990/InterestGrp/TotalAmt | 0 | 0 |
| IRS990/InventoriesForSaleOrUseGrp/EOYAmt | 0 | 0 |
| IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt | 0 | 0 |
| IRS990/InvestmentInJointVentureInd | 0 | false |
| IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt | 0 | 0 |
| IRS990/InvestmentsProgramRelatedGrp/BOYAmt | 0 | 371880 |
| IRS990/InvestmentsProgramRelatedGrp/EOYAmt | 0 | 274140 |
| IRS990/InvestmentsPubTradedSecGrp/EOYAmt | 0 | 0 |
| IRS990/IRPDocumentCnt | 0 | 1 |
| IRS990/IRPDocumentW2GCnt | 0 | 0 |
| IRS990/LandBldgEquipBasisNetGrp/EOYAmt | 0 | 0 |
| IRS990/LegalDomicileStateCd | 0 | NC |
| IRS990/LessCostOthBasisSalesExpnssGrp/OtherAmt | 0 | 131589 |
| IRS990/LoanOutstandingInd | 0 | false |
| IRS990/LobbyingActivitiesInd | 0 | false |
| IRS990/LocalChaptersInd | 0 | false |
| IRS990/MaterialDiversionOrMisuseInd | 0 | false |
| IRS990/MembersOrStockholdersInd | 0 | false |
| IRS990/MethodOfAccountingAccrualInd | 0 | X |
| IRS990/MinutesOfCommitteesInd | 0 | true |
| IRS990/MinutesOfGoverningBodyInd | 0 | true |
| IRS990/MissionDesc | 0 | The organization operates as a supporting organization exclusively for the benefitof Wake Forest University ("WFU"), Wake Forest University Health Sciences ("WFUHS"), and Reynolda House, Inc. ("RH"), each of which supported organizations are 501 (c)(3) organizations. The organization's purposes include: (1) serving as the recipient of properties contributed to the supported organizations to be held temporarily; (2) managing short-term contributed properties; (3) determining whether and when prospective contributions of real or personal property should be accepted, retained, liquidated or transferred; (4) obtaining, acquiring, receiving, constructing, erecting or improving properties to which the organization holds title; holding, retaining, leasing, managing, selling, 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/MoreThan5000KToIndividualsInd | 0 | false |
| IRS990/MoreThan5000KToOrgInd | 0 | false |
| IRS990/NetAssetsOrFundBalancesBOYAmt | 0 | 259885 |
| IRS990/NetAssetsOrFundBalancesEOYAmt | 0 | 181364 |
| IRS990/NetGainOrLossInvestmentsGrp/RelatedOrExemptFuncIncomeAmt | 0 | -89569 |
| IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt | 0 | -89569 |
| IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt | 0 | 0 |
| IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt | 0 | 0 |
| IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt | 0 | 0 |
| IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt | 0 | 0 |
| IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt | 0 | -64167 |
| IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt | 0 | -67388 |
| IRS990/NoncashContributionsAmt | 0 | 16400 |
| IRS990/NondeductibleContributionsInd | 0 | false |
| IRS990/OccupancyGrp/TotalAmt | 0 | 0 |
| IRS990/OfficeExpensesGrp/TotalAmt | 0 | 0 |
| IRS990/OfficerMailingAddressInd | 0 | false |
| IRS990/OperateHospitalInd | 0 | false |
| IRS990/Organization501c3Ind | 0 | X |
| IRS990/OrganizationFollowsFASB117Ind | 0 | X |
| IRS990/OtherAssetsTotalGrp/EOYAmt | 0 | 0 |
| IRS990/OtherChangesInNetAssetsAmt | 0 | 12340 |
| IRS990/OtherEmployeeBenefitsGrp/TotalAmt | 0 | 0 |
| IRS990/OtherExpensesGrp/Desc | 0 | Property Tax |
| IRS990/OtherExpensesGrp/Desc | 1 | Assessments & Dues |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 0 | 6200 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 1 | 1690 |
| IRS990/OtherExpensesGrp/TotalAmt | 0 | 6200 |
| IRS990/OtherExpensesGrp/TotalAmt | 1 | 1690 |
| IRS990/OtherLiabilitiesGrp/BOYAmt | 0 | 126587 |
| IRS990/OtherLiabilitiesGrp/EOYAmt | 0 | 128963 |
| IRS990/OtherRevenueTotalAmt | 0 | 0 |
| IRS990/OtherSalariesAndWagesGrp/TotalAmt | 0 | 0 |
| IRS990/OthNotesLoansReceivableNetGrp/EOYAmt | 0 | 0 |
| IRS990/PartialLiquidationInd | 0 | false |
| IRS990/PaymentsToAffiliatesGrp/TotalAmt | 0 | 0 |
| IRS990/PayPremiumsPrsnlBnftCntrctInd | 0 | false |
| IRS990/PayrollTaxesGrp/TotalAmt | 0 | 0 |
| IRS990/PensionPlanContributionsGrp/TotalAmt | 0 | 0 |
| IRS990/PledgesAndGrantsReceivableGrp/EOYAmt | 0 | 0 |
| IRS990/PoliticalCampaignActyInd | 0 | false |
| IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt | 0 | 0 |
| IRS990/PrincipalOfficerNm | 0 | Nathan O Hatch PhD |
| IRS990/ProfessionalFundraisingInd | 0 | false |
| IRS990/ProhibitedTaxShelterTransInd | 0 | false |
| IRS990/PYContributionsGrantsAmt | 0 | 70700 |
| IRS990/PYExcessBenefitTransInd | 0 | false |
| IRS990/PYGrantsAndSimilarPaidAmt | 0 | 352383 |
| IRS990/PYInvestmentIncomeAmt | 0 | -61279 |
| IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt | 0 | 0 |
| IRS990/PYOtherExpensesAmt | 0 | 14275 |
| IRS990/PYRevenuesLessExpensesAmt | 0 | -357237 |
| IRS990/PYTotalExpensesAmt | 0 | 366658 |
| IRS990/PYTotalRevenueAmt | 0 | 9421 |
| IRS990/QuidProQuoContributionsInd | 0 | false |
| IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt | 0 | 0 |
| IRS990/RcvFndsToPayPrsnlBnftCntrctInd | 0 | false |
| IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt | 0 | 0 |
| IRS990/ReconcilationRevenueExpnssAmt | 0 | -90861 |
| IRS990/RegularMonitoringEnfrcInd | 0 | true |
| IRS990/RelatedEntityInd | 0 | true |
| IRS990/RelatedOrganizationCtrlEntInd | 0 | false |
| IRS990/ReportInvestmentsOtherSecInd | 0 | false |
| IRS990/ReportLandBuildingEquipmentInd | 0 | false |
| IRS990/ReportOtherAssetsInd | 0 | false |
| IRS990/ReportOtherLiabilitiesInd | 0 | true |
| IRS990/ReportProgramRelatedInvstInd | 0 | true |
| IRS990/RoyaltiesGrp/TotalAmt | 0 | 0 |
| IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt | 0 | 0 |
| IRS990/SavingsAndTempCashInvstGrp/EOYAmt | 0 | 0 |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/Contribution35ControlledInd | 0 | false |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionControllerInd | 0 | false |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionFamilyInd | 0 | false |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/ControlledDisqualifiedPrsnInd | 0 | false |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnControllIntInd | 0 | false |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnOwnrIntInd | 0 | false |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/ExcessBusinessHoldingsRulesInd | 0 | false |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/ListedByNameGoverningDocInd | 0 | true |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/LoanDisqualifiedPersonInd | 0 | false |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/OrganizationChangeSuprtOrgInd | 0 | false |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/PaymentSubstantialContribtrInd | 0 | false |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgNotOrganizedUSInd | 0 | false |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgSectionC456Ind | 0 | false |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportNonSupportedOrgInd | 0 | false |
| IRS990ScheduleA/Form990SchASupportingOrgGrp/SuprtOrgNoIRSDeterminationInd | 0 | false |
| IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/OperateBenefitNonSuprtOrgInd | 0 | false |
| IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/PowerAppointMajorityDirTrstInd | 0 | true |
| IRS990ScheduleA/OtherSupportSumAmt | 0 | 0 |
| IRS990ScheduleA/SupportedOrganizationsCnt | 0 | 3 |
| IRS990ScheduleA/SupportedOrganizationsTotalCnt | 0 | 3 |
| IRS990ScheduleA/SupportedOrgInformationGrp/EIN | 0 | 560532138 |
| IRS990ScheduleA/SupportedOrgInformationGrp/EIN | 1 | 560810676 |
| IRS990ScheduleA/SupportedOrgInformationGrp/EIN | 2 | 223849199 |
| IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd | 0 | true |
| IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd | 1 | true |
| IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd | 2 | true |
| IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeCd | 0 | 2 |
| IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeCd | 1 | 7 |
| IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeCd | 2 | 2 |
| IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt | 0 | 0 |
| IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt | 1 | 0 |
| IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt | 2 | 0 |
| IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt | 0 | 6081 |
| IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt | 1 | 0 |
| IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt | 2 | 0 |
| IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt | 0 | Wake Forest University |
| IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt | 1 | Reynolda House Inc |
| IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt | 2 | WFU Health Sciences |
| IRS990ScheduleA/SupportingOrganization509a3Ind | 0 | X |
| IRS990ScheduleA/SupportingOrgType1Ind | 0 | X |
| IRS990ScheduleA/SupportSumAmt | 0 | 6081 |
| IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine1 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorNum | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine1 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine2 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt | 0 | RESTRICTED |
| IRS990/ScheduleBRequiredInd | 0 | true |
| IRS990ScheduleD/DonatedServicesAndUseFcltsAmt | 0 | 54437 |
| IRS990ScheduleD/DonatedServicesUseFcltsAmt | 0 | 54437 |
| IRS990ScheduleD/ExpensesNotReportedAmt | 0 | 54437 |
| IRS990ScheduleD/ExpensesSubtotalAmt | 0 | 17692 |
| IRS990ScheduleD/FootnoteTextInd | 0 | X |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 0 | 103652 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 1 | 25311 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 0 | Due to Wake Forest University |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 1 | Due to WFU Health Sciences |
| IRS990ScheduleD/OtherRevenueAmt | 0 | 62339 |
| IRS990ScheduleD/RevenueNotReportedAmt | 0 | 116776 |
| IRS990ScheduleD/RevenueSubtotalAmt | 0 | -73169 |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 0 | 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, 2017 remain subject to examination by federal and state tax authorities. The University has evaluated uncertain tax positions for the years ended June 30, 2020 and 2019, 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 years ended June 30, 2020. |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 1 | Tax loss in excess of book loss $76240 Book allowances for Gift Properties $-1640 Carrying Costs $-11611 Book expense $-650 |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | Part X : FIN48 Footnote |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | Part XI, Line 2d: Other revenue amounts included in F/S but not included on form 990 |
| IRS990ScheduleD/TotalBookValueProgramRltdAmt | 0 | 274140 |
| IRS990ScheduleD/TotalExpensesPerForm990Amt | 0 | 17692 |
| IRS990ScheduleD/TotalLiabilityAmt | 0 | 128963 |
| IRS990ScheduleD/TotalRevenuePerForm990Amt | 0 | -73169 |
| IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt | 0 | 43607 |
| IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt | 0 | 72129 |
| IRS990ScheduleI/GrantRecordsMaintainedInd | 0 | true |
| IRS990ScheduleI/RecipientTable/CashGrantAmt | 0 | 6081 |
| IRS990ScheduleI/RecipientTable/IRCSectionDesc | 0 | 501(c)(3) |
| IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt | 0 | 0 |
| IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt | 0 | Scholarships and Program Support |
| IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt | 0 | Wake Forest University |
Document Assets
No mirrored PDF or thumbnail assets are attached yet.
Filings
Displayed year
2020 • Form 990Detailed filing. Detailed filing data is available for this year.
- Assets
- $310,327
- Liabilities
- $128,963
- Net assets
- $181,364
- Revenue
- -$73,169
- Expenses
- $17,692
- Net income
- -$90,861