2022-11-14T07:27:47-06:00 2021-12-31 990 2021-07-01 061818498 WAKE FOREST INNOVATION QUARTER MANAGEMENT CO WAKE 3367164445 MEDICAL CENTER BOULEVARD WINSTONSALEM NC 27157 TERRY L HALES JR PRESIDENT 3367164445 2022-11-14 TERRY HALES JR 999009999 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z TERRY L HALES JR MEDICAL CENTER BOULEVARD WINSTONSALEM NC 27157 0 0 X WWW.INNOVATIONQUARTER.COM X 2007 NC TO DEVELOP/MANAGE A RESEARCH PARK TO PROVIDE RESEARCH SPACE AND REVITALIZE DOWNTOWN WINSTON-SALEM. 4 0 0 4 0 0 0 0 0 0 0 0 0 0 0 0 5000 0 0 0 173286 68000 0 0 0 2245964 2292349 2424250 2360349 -2424250 -2360349 65618 76176 16784016 19154923 -16718398 -19078747 X TO SERVE AS THE UMBRELLA ORGANIZATION OF THE WAKE FOREST UNIVERSITY HEALTH SCIENCES ("WFUHS") AFFILIATED RESEARCH PARK ENTITIES, OVERSEEING ALL WFUHS ACTIVITIES INVOLVING THE WAKE FOREST INNOVATION QUARTER, INCLUDING LAND ACQUISITION, MASTER PLANNING AND PARK DEVELOPMENT. 0 0 2151530 OVERSIGHT OF ALL WFUHS ACTIVITIES INVOLVING THE WAKE FOREST INNOVATION QUARTER, INCLUDING LAND ACQUISITION, MASTER PLANNING AND PARK DEVELOPMENT SUCH AS INFRASTRUCTURE, RECRUITING, ETC., AND TO COORDINATE THE EFFORTS OF ALL WFUHS AFFILIATED RESEARCH PARK ENTITIES INCLUDING WAKE FOREST INNOVATION QUARTER CDC. THE ORGANIZATION WILL PROVIDE AN ADDITIONAL CAMPUS FOR THE LONG-TERM RESEARCH SPACE NEEDS OF WFUHS AND UNDERTAKE REVITALIZATION AND REDEVELOPMENT EFFORTS OF THE CENTER-CITY AREA OF WINSTON-SALEM.THE ORGANIZATION MAINTAINS THE LONG BRANCH TRAIL, A 1.7 MILE NETWORK OF GREENWAY TRAILS FOR WALKING, RUNNING AND BIKING THAT RUNS THROUGH INNOVATION QUARTER. THE TRAIL WAS BUILT THROUGH COLLABORATION AMONG THE FILING ORGANIZATION, ITS AFFILIATES, THE CITY OF WINSTON SALEM, THE NORTH CAROLINA DEPARTMENT OF TRANSPORTATION AND THE NORTH CAROLINA DEPARTMENT OF TRANSPORTATION - RAIL DIVISION. DURING SY21, THE ORGANIZATION PROVIDED FREE COMMUNITY PROGRAMS HOSTED AT BAILEY PARK, WHICH OFFERS A STAGE, LAWN AND FOOD TRUCK COURT TO ACCOMMODATE LARGE GATHERINGS:- INNOVATION & CINEMA (COMMUNITY FILM SERIES);- SUNSET SALUTATIONS IN BAILEY PARK (COMMUNITY YOGA SERIES);- FITNESS FRIDAYS (FITNESS SERIES IN PARTNERSHIP WITH F45 WINSTON-SALEM); AND- FOOD TRUCK FRIDAYS (MONTHLY MAY THROUGH NOVEMBER). 2151530 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 4 0 0 0 1 0 1 1 1 1 1 0 0 1 1 1 1 1 1 0 0 0 X ERIN KOEWING 3367164445 MEDICAL CENTER BOULEVARD WINSTONSALEM NC 27157 X J REID MORGAN DIRECTOR & SECRETARY 0.50 39.50 X X 0 1218034 102296 TERRY L HALES JR DIRECTOR & PRESIDENT 2.00 38.00 X X 0 775775 153934 J MCLAIN WALLACE JR DIRECTOR & TREASURER 0.50 39.50 X X 0 0 0 SUSAN R WENTE PHD DIRECTOR (FR 7/1/2021) 1.00 39.00 X 0 692191 156642 ANITA M CONRAD ASSISTANT SECRETARY 1.00 39.00 X 0 205155 42128 0 2891155 455000 0 0 1 0 PLEASANTS PROPERTIES 575 N PATTERSON AVE STE 550 WINSTON SALEM NC 27101 MANAGEMENT SERVICES 342427 MONIGLE ASSOCIATES INC 150 ADAMS STREET DENVER CO 80206 MARKETING SERVICES 195600 STIMMEL ASSOCIATES PA 601 NORTH TRADE STREET SUITE 200 WINSTON SALEM NC 27101 ARCHITECT SERVICES 183133 BLAKLEY LANDSCAPE SERVICES INC 274 BAITY RD MOCKSVILLE NC 27028 LAWN CARE SERVICES 142540 KIMLEY-HORN & ASSOCIATES INC PO BOX 932514 ATLANTA GA 31193 CONSULTING SERVICES 127754 6 0 0 0 0 X 63768 63768 1149 1149 1652 1652 1431 1431 340000 274499 65501 32274 32274 701673 566495 135178 393604 393604 51369 43229 8140 767177 767177 540 540 5712 5712 2360349 2151530 208819 0 48951 59509 16667 16667 65618 76176 16784016 19154923 16784016 19154923 X -16718398 -19078747 -16718398 -19078747 65618 76176 -2360349 0 X 0 1 X 1 0 X X X 1 WFU HEALTH SCIENCES 223849199 2 1 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 INTERCOMPANY PAYABLE 19154923 19154923 X PART X, LINE 2: THE ORGANIZATION HAS EVALUATED UNCERTAIN TAX POSITIONS FOR ITS SHORT PERIOD ENDED DECEMBER 31, 2021 AND FISCAL YEAR ENDED JUNE 30, 2021, INCLUDING A QUANTIFICATION OF TAX RISK IN AREAS SUCH AS UNRELATED BUSINESS TAXABLE INCOME AND THE TAXATION OF ITS JOINT VENTURES. THIS EVALUATION DID NOT HAVE A MATERIAL EFFECT ON THE ORGANIZATION'S FINANCIAL STATEMENTS FOR THE SHORT PERIOD ENDED DECEMBER 31, 2021 AND FISCAL YEAR ENDED JUNE 30, 2021. 0 1 0 0 0 0 0 0 0 J REID MORGAN DIRECTOR & SECRETARY 0 576981 0 135000 0 506053 0 66500 0 35796 0 1320330 0 351061 TERRY L HALES JR DIRECTOR & PRESIDENT 0 476886 0 202500 0 96389 0 126257 0 27677 0 929709 0 3830 SUSAN R WENTE PHD DIRECTOR (FR 7/1/2021) 0 482060 0 200000 0 10131 0 127000 0 29642 0 848833 0 0 ANITA M CONRAD ASSISTANT SECRETARY 0 192759 0 12000 0 396 0 20250 0 21878 0 247283 0 0 PART I, LINE 4B CERTAIN OFFICERS AND DIRECTORS OF THE FILING ORGANIZATION PARTICIPATED IN AND/OR RECEIVED PAYMENTS FROM SUPPLEMENTAL NONQUALIFIED RETIREMENT PLANS (SERP) AND EXECUTIVE INCENTIVE COMPENSATION PLANS (ALL OF WHICH WAS PAID BY RELATED ORGANIZATIONS, WAKE FOREST UNIVERSITY HEALTH SCIENCES OR WAKE FOREST UNIVERSITY, AS PART OF THE INDIVIDUALS' COMPENSATION FROM THE RELATED ORGANIZATIONS). THE FOLLOWING DIRECTORS AND/OR OFFICERS RECEIVED SERP PAYMENTS IN THEIR CALENDAR YEAR 2021 COMPENSATION: TERRY L. HALES, JR. $72,896 J. REID MORGAN $485,452 THE COMPENSATION OF DR. SUSAN R. WENTE, PRESIDENT OF RELATED ORGANIZATION WAKE FOREST UNIVERSITY EFFECTIVE JULY 1, 2021, INCLUDES $112,500 SHOWN IN SCHEDULE J, PART II, COLUMN C, FROM HER PARTICIPATION IN A DEFERRED COMPENSATION ARRANGEMENT WITH THAT EMPLOYER. THE COMPENSATION OF J. REID MORGAN, SENIOR VICE PRESIDENT AND GENERAL COUNSEL OF RELATED ORGANIZATION WAKE FOREST UNIVERSITY, INCLUDES A PAYOUT OF $485,452 WHICH IS INCLUDED IN HIS 2021 FORM W-2 AND IN COLUMN BIII. $351,061 IS SHOWN IN SCHEDULE J, PART II, COLUMN F AND HAS BEEN PREVIOUSLY REPORTED ON A PRIOR YEAR FORM 990. HIS COMPENSATION ALSO INCLUDES $37,500 SHOWN IN SCHEDULE J, PART II, COLUMN C, FROM HIS PARTICIPATION IN A DEFERRED COMPENSATION ARRANGEMENT WITH THAT EMPLOYER. FORM 990, PART VI, SECTION A, LINE 4 THE FILING ORGANIZATION'S BYLAWS WERE AMENDED EFFECTIVE JULY 1, 2021 TO CHANGE THE FILING ORGANIZATION'S FISCAL YEAR FROM ONE ENDING JUNE 30 TO ONE ENDING DECEMBER 31. FORM 990, PART VI, SECTION A, LINE 6 THE SOLE MEMBER OF THE FILING ORGANIZATION IS WAKE FOREST UNIVERSITY HEALTH SCIENCES. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS OF THE BOARD OF DIRECTORS OF THE ORGANIZATION ARE APPOINTED BY THE GOVERNING BODY OF WAKE FOREST UNIVERSITY HEALTH SCIENCES OR BY A MEMBER OF THE GOVERNING BODY OR BY AN OFFICER OF WAKE FOREST UNIVERSITY HEALTH SCIENCES ACTING IN HIS/HER OFFICIAL CAPACITY, IN ACCORDANCE WITH PROCEDURES PRESCRIBED BY THE BOARD OF DIRECTORS OF WAKE FOREST UNIVERSITY HEALTH SCIENCES. FORM 990, PART VI, SECTION A, LINE 7B DECISIONS OF THE ORGANIZATION'S GOVERNING BODY WHICH REQUIRE APPROVAL BY THE PARENT ORGANIZATION, WAKE FOREST UNIVERSITY HEALTH SCIENCES, INCLUDE AMENDMENTS TO THE ORGANIZATION'S GOVERNANCE DOCUMENTS (ARTICLES OF INCORPORATION AND BYLAWS), AND THE ELECTION AND REMOVAL OF DIRECTORS (ALTHOUGH PER AN AMENDMENT TO THE PARENT ORGANIZATION'S BYLAWS IN 2010, THE CEO OF THE PARENT ORGANIZATION MAY ACT FOR THE PARENT'S BOARD IN SUCH MATTERS). FORM 990, PART VI, SECTION B, LINE 11B THE FILING ORGANIZATION'S BOARD OF DIRECTORS RECEIVES A COPY OF THE FORM 990 WITH SUFFICIENT TIME TO PERMIT REVIEW, COMMENT, AND QUESTIONS PRIOR TO ITS FILING. IF MODIFICATIONS ARE REQUIRED FOLLOWING SUCH REVIEW AND COMMENT, THE REVISED FORM 990 IS REDISTRIBUTED PRIOR TO ITS FILING WITH THE IRS, ALONG WITH A REPORT NOTING THE MODIFICATIONS. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION REQUIRES ITS OFFICERS AND DIRECTORS TO DISCLOSE CONFLICTS OF INTEREST ANNUALLY, AND AS THEY ARISE. ANY ITEMS DISCLOSED ARE REVIEWED AND MANAGED IN ACCORDANCE WITH THE ORGANIZATION'S POLICY ON CONFLICTS OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION PAYS NO COMPENSATION TO OFFICERS OR TRUSTEES; AS THE ORGANIZATION HAS NO EMPLOYEES, IT DOES NOT PAY ANY COMPENSATION TO ANY KEY EMPLOYEES. ALL COMPENSATION PAID TO FILING ORGANIZATION OFFICERS OR DIRECTORS WAS PAID BY RELATED ORGANIZATIONS AS EMPLOYEES OF SUCH RELATED ORGANIZATIONS. THE SENIOR EXECUTIVE COMPENSATION COMMITTEE OF THE WAKE FOREST UNIVERSITY BAPTIST MEDICAL CENTER ("WFUBMC") BOARD (ACTING, PURSUANT TO A DELEGATION, ON BEHALF OF RELATED ORGANIZATION WAKE FOREST UNIVERSITY HEALTH SCIENCES ("WFUHS"), THE SOLE MEMBER OF THE FILING ORGANIZATION WITH RESPECT TO THE CURRENT FILING ORGANIZATION OFFICER EMPLOYED BY WFUHS) IS RESPONSIBLE FOR REVIEWING AND APPROVING SUCH CURRENT FILING ORGANIZATION OFFICER'S COMPENSATION AS A WFUHS EMPLOYEE. OTHER FILING ORGANIZATION OFFICERS/DIRECTOR ARE COMPENSATED BY RELATED ORGANIZATION WAKE FOREST UNIVERSITY (THE PARENT OF WFUHS); THE COMPENSATION OF MOST OF THOSE INDIVIDUALS IS REVIEWED AND APPROVED IN ACCORDANCE WITH THAT RELATED ORGANIZATION'S SIMILAR PROCEDURES CALLING FOR COMPENSATION COMMITTEE REVIEW AND APPROVAL OF CERTAIN WFU EXECUTIVES. BOTH COMMITTEES USE INDEPENDENT COMPENSATION CONSULTANTS, COMPENSATION SURVEYS, AND STUDIES TO DETERMINE THE APPROPRIATENESS OF EACH SUCH INDIVIDUAL'S COMPENSATION. 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, AND ARE ATTACHED TO THE FORM 1023 FILED FOR THE ORGANIZATION WITH THE IRS, WHICH IS PUBLICLY AVAILABLE. THE CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC ON REQUEST. PART VII, SECTION A, COLUMN B, HOURS J. REID MORGAN FILING ORG 0.5 RELATED ORG 30.5 UNRELATED ORG 9.0 TERRY L. HALES, JR. FILING ORG 2.0 RELATED ORG 38.0 ANITA M. CONRAD FILING ORG 1.0 RELATED ORG 35.0 UNRELATED ORG 4.0 J. MCLAIN WALLACE, JR. FILING ORG 0.5 RELATED ORG 9.2 UNRELATED ORG 30.3 SUSAN R. WENTE, PHD FILING ORG 0.5 RELATED ORG 33.0 UNRELATED ORG 6.5 A MEDICAL CENTER INTEGRATION AGREEMENT ("MCIA") WAS ORIGINALLY ENTERED INTO IN 2010 AMONG FOUR PARTIES: WAKE FOREST UNIVERSITY ("WFU"), WAKE FOREST UNIVERSITY HEALTH SCIENCES ("WFUHS"), WAKE FOREST UNIVERSITY BAPTIST MEDICAL CENTER ("WFUBMC"), AND NORTH CAROLINA BAPTIST HOSPITAL ("NCBH"). PURSUANT TO THE TERMS OF THE ORIGINAL MCIA, THE OPERATION OF WFUHS AND NCBH, AND ALL OF THE RESPECTIVE SUBSIDIARIES OF EACH, IS DELEGATED TO WFUBMC. ADDITIONALLY, THE CORPORATE OFFICERS OF WFUBMC GENERALLY SERVE AS THE CORPORATE OFFICERS OF WFUHS AND NCBH. THE MCIA WAS REVISED AND RESTATED IN 2020 TO DELEGATE OVERSIGHT AND MANAGEMENT AUTHORITY OVER WFUBMC TO ATRIUM HEALTH, INC. ("AHI"). CERTAIN DIRECTORS AND/OR CORPORATE OFFICERS OF WFUHS, NCBH, & WFUBMC ALSO SERVE AS DIRECTORS OR CORPORATE OFFICERS OF AHI. WFU AND WFUHS ARE ORGANIZATIONS RELATED TO THE FILING ORGANIZATION. NCBH, WFUBMC, AND AHI ARE ORGANIZATIONS UNRELATED TO THE FILING ORGANIZATION. THUS, CERTAIN DIRECTORS AND OFFICERS OF THE FILING ORGANIZATION DEVOTE HOURS TO RELATED ORGANIZATIONS (WFU & WFUHS) AND UNRELATED ORGANIZATIONS (WFUBMC, NCBH, AND AHI) AS SHOWN IN THE BREAKDOWN OF HOURS ABOVE. FORM 990, PART IX, LINE 11G CONSULTANTS: PROGRAM SERVICE EXPENSES 566,495. MANAGEMENT AND GENERAL EXPENSES 135,178. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 701,673. 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