WAKE FOREST UNIVERSITY: Form 990, tax year 2018

View the entire original 990 at ProPublica ↗

Organization: WAKE FOREST UNIVERSITY (EIN 56-0532138)
Tax period: 2018-07-01 to 2019-06-30
Filed: 2020-07-14
IRS object ID: 202041969349304769
Schema version: 2018v3.1
Source: Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header
Form 990
Schedule A
Schedule B
Schedule C
Schedule D
Schedule E
Schedule F
Schedule G
Schedule I
Schedule J
Schedule K
Schedule L
Schedule M
Schedule O
Schedule R

Return header ReturnHeader

Field	Value	IRS element (for citing)
Return	2020-07-14T17:47:01-07:00	ReturnTs
Tax Period End	2019-06-30	TaxPeriodEndDt
Return Type	990	ReturnTypeCd
Tax Period Begin	2018-07-01	TaxPeriodBeginDt

Filer Filer

Field	Value	IRS element (for citing)
EIN	560532138	EIN

Business Name BusinessName

Field	Value	IRS element (for citing)
Business Name Line1	WAKE FOREST UNIVERSITY	BusinessNameLine1Txt

Field	Value	IRS element (for citing)
Business Name Control	WAKE	BusinessNameControlTxt
Phone	3367585233	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	1834 WAKE FOREST RD BOX 7201	AddressLine1Txt
City	WINSTONSALEM	CityNm
State Abbreviation	NC	StateAbbreviationCd
ZIP	27109	ZIPCd

Business Officer BusinessOfficerGrp

Field	Value	IRS element (for citing)
Person	B Hofler Milam	PersonNm
Person Title	EVP/CFO/Treasurer	PersonTitleTxt
Signature	2020-07-14	SignatureDt

Field	Value	IRS element (for citing)
Tax	2018	TaxYr
Build TS	2021-01-29 14:40:06Z	BuildTS

Form 990 IRS990

Field	Value	IRS element (for citing)
Principal Officer	Nathan O Hatch PhD	PrincipalOfficerNm

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	1834 WAKE FOREST RD BOX 7201	AddressLine1Txt
City	WINSTONSALEM	CityNm
State Abbreviation	NC	StateAbbreviationCd
ZIP	27109	ZIPCd

Field	Value	IRS element (for citing)
Gross Receipts	$935,603,190	GrossReceiptsAmt
Group Return For Affiliates	false	GroupReturnForAffiliatesInd
All Affiliates Included	false	AllAffiliatesIncludedInd
Organization501c3	Yes (X)	Organization501c3Ind
Website Address	www.wfu.edu	WebsiteAddressTxt
Type Of Organization Corp	Yes (X)	TypeOfOrganizationCorpInd
Formation	1834	FormationYr
Legal Domicile State	NC	LegalDomicileStateCd
Activity Or Mission	Wake Forest University is an institution of higher education dedicated to the pursuit of excellence in the liberal arts and in graduate and professional education. It operates Wake Forest College, a graduate school of arts and sciences, and four professional schools.	ActivityOrMissionDesc
Voting Members Governing Body	47	VotingMembersGoverningBodyCnt
Voting Members Independent	43	VotingMembersIndependentCnt
Total Employee	5944	TotalEmployeeCnt
Total Volunteers	2150	TotalVolunteersCnt
Total Gross UBI	$4,497,359	TotalGrossUBIAmt
PY Contributions Grants	$85,906,758	PYContributionsGrantsAmt
CY Contributions Grants	$112,274,063	CYContributionsGrantsAmt
PY Program Service Revenue	$427,874,039	PYProgramServiceRevenueAmt
CY Program Service Revenue	$450,831,571	CYProgramServiceRevenueAmt
PY Investment Income	$55,270,818	PYInvestmentIncomeAmt
CY Investment Income	$50,702,988	CYInvestmentIncomeAmt
PY Other Revenue	$14,309,917	PYOtherRevenueAmt
CY Other Revenue	$22,645,642	CYOtherRevenueAmt
PY Total Revenue	$583,361,532	PYTotalRevenueAmt
CY Total Revenue	$636,454,264	CYTotalRevenueAmt
PY Grants And Similar Paid	$112,387,153	PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid	$120,086,159	CYGrantsAndSimilarPaidAmt
CY Benefits Paid To Members	$0	CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid	$250,705,705	PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid	$263,363,813	CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns	$201,880	PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns	$0	CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense	$23,628,294	CYTotalFundraisingExpenseAmt
PY Other Expenses	$151,157,056	PYOtherExpensesAmt
CY Other Expenses	$170,260,432	CYOtherExpensesAmt
PY Total Expenses	$514,451,794	PYTotalExpensesAmt
CY Total Expenses	$553,710,404	CYTotalExpensesAmt
PY Revenues Less Expenses	$68,909,738	PYRevenuesLessExpensesAmt
CY Revenues Less Expenses	$82,743,860	CYRevenuesLessExpensesAmt
Total Assets BOY	$1,919,040,249	TotalAssetsBOYAmt
Total Assets EOY	$2,089,648,634	TotalAssetsEOYAmt
Total Liabilities BOY	$556,705,829	TotalLiabilitiesBOYAmt
Total Liabilities EOY	$651,432,125	TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY	$1,362,334,420	NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY	$1,438,216,509	NetAssetsOrFundBalancesEOYAmt
Info In Schedule O Part III	Yes (X)	InfoInScheduleOPartIIIInd
Mission	Wake Forest University, a 501(c)(3) institution of higher education, is dedicated to the pursuit of excellence in the liberal arts and in graduate and professional education.The organization is comprised of six constituent parts: Wake Forest College; the Graduate School of Arts and Sciences; the School of Law; the School of Medicine; the School of Business; and the School of Divinity. It seeks to honor the ideals of liberal learning, which entail commitment to transmission of cultural heritages; teaching the modes of learning in the basic disciplines of human knowledge; developing critical appreciation of moral, aesthetic and religious values; advancing the frontiers of knowledge through in-depth study and research; and applying knowledge in the service of humanity.	MissionDesc
Significant New Program Srvc	false	SignificantNewProgramSrvcInd
Significant Change	false	SignificantChangeInd
Expense	$247,976,509	ExpenseAmt
Grant	$102,850,303	GrantAmt
Revenue	$352,884,002	RevenueAmt
Desc	Instruction of approximately 8,401 students in graduate and undergraduate programs. In addition to the U.S. campus, Wake Forest maintains five student learning centers in Europe, and has numerous study abroad programs available. WFU provides opportunities for foreign students to enter degree programs at the U.S. Campus. The Center for Global Programs and Studies manages the student exchange and study abroad programs, with 521 visiting students from 43 different countries. 75% of our U.S. students travel abroad for at least one program. Scholarships are awarded to eligible students based on financial need and academic merit. 54% of the graduate and undergraduate student population received financial aid awards. Approximately 4,039 students received scholarships or grants from the institution during the year.	Desc

Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp

Field	Value	IRS element (for citing)
Expense	$104,059,201	ExpenseAmt
Grant	$13,726,466	GrantAmt
Revenue	$88,996,883	RevenueAmt
Desc	Wake Forest maintains campus bookstores, housing and dining facilities, mail services and other program services, including Athletics. Athletic scholarships provided funding for 321 of our athletes during the fiscal year. The Wake Forest conference center serves both University and external constituencies. WFDD-FM Radio, the University's Public Broadcasting Station, provides a venue for teaching and learning as well as communication. The station serves the 32-county Winston-Salem, Greensboro, High Point market bringing music and culture, news and information to the public at large.	Desc

Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp

Field	Value	IRS element (for citing)
Expense	$68,431,328	ExpenseAmt
Revenue	$5,784,334	RevenueAmt
Desc	Wake Forest University maintains a campus with academic buildings, research laboratories, space for fraternities and sororities, and recreational facilities. The grounds add to the student experience. The organization also has other auxiliary enterprises designed to enhance and improve the University and the surrounding community. The University supports, with occasional gifts, local exempt organizations, in order to enhance arts and culture in the area.	Desc

Field	Value	IRS element (for citing)
Total Other Prog Srvc Expense	$50,088,999	TotalOtherProgSrvcExpenseAmt
Total Other Prog Srvc Grant	$3,651,465	TotalOtherProgSrvcGrantAmt
Total Other Prog Srvc Revenue	$3,166,352	TotalOtherProgSrvcRevenueAmt
Total Program Service Expenses	$470,556,037	TotalProgramServiceExpensesAmt
Described In Section501c3	Yes (true)	DescribedInSection501c3Ind
Schedule B Required	Yes (true)	ScheduleBRequiredInd
Political Campaign Acty	false	PoliticalCampaignActyInd
Lobbying Activities	Yes (true)	LobbyingActivitiesInd
Subject To Proxy Tax	false	SubjectToProxyTaxInd
Donor Advised Fund	false	DonorAdvisedFundInd
Conservation Easements	false	ConservationEasementsInd
Collections Of Art	Yes (true)	CollectionsOfArtInd
Credit Counseling	Yes (true)	CreditCounselingInd
Temp Or Permanent Endowments	Yes (true)	TempOrPermanentEndowmentsInd
Report Land Building Equipment	Yes (true)	ReportLandBuildingEquipmentInd
Report Investments Other Sec	Yes (true)	ReportInvestmentsOtherSecInd
Report Program Related Invst	false	ReportProgramRelatedInvstInd
Report Other Assets	false	ReportOtherAssetsInd
Report Other Liabilities	Yes (true)	ReportOtherLiabilitiesInd
Include FIN48 Footnote	Yes (true)	IncludeFIN48FootnoteInd
Independent Audit Fincl Stmt	false	IndependentAuditFinclStmtInd
Consolidated Audit Fincl Stmt	Yes (true)	ConsolidatedAuditFinclStmtInd
School Operating	Yes (true)	SchoolOperatingInd
Foreign Office	Yes (true)	ForeignOfficeInd
Foreign Activities	Yes (true)	ForeignActivitiesInd
More Than5000 K To Org	Yes (true)	MoreThan5000KToOrgInd
More Than5000 K To Individuals	Yes (true)	MoreThan5000KToIndividualsInd
Professional Fundraising	false	ProfessionalFundraisingInd
Fundraising Activities	Yes (true)	FundraisingActivitiesInd
Gaming Activities	false	GamingActivitiesInd
Operate Hospital	false	OperateHospitalInd
Grants To Organizations	Yes (true)	GrantsToOrganizationsInd
Grants To Individuals	Yes (true)	GrantsToIndividualsInd
Schedule J Required	Yes (true)	ScheduleJRequiredInd
Tax Exempt Bonds	Yes (true)	TaxExemptBondsInd
Invest Tax Exempt Bonds	false	InvestTaxExemptBondsInd
Escrow Account	false	EscrowAccountInd
On Behalf Of Issuer	false	OnBehalfOfIssuerInd
Engaged In Excess Benefit Trans	false	EngagedInExcessBenefitTransInd
PY Excess Benefit Trans	false	PYExcessBenefitTransInd
Loan Outstanding	Yes (true)	LoanOutstandingInd
Grant To Related Person	Yes (true)	GrantToRelatedPersonInd
Business Rln With Org Mem	false	BusinessRlnWithOrgMemInd
Business Rln With Fam Mem	Yes (true)	BusinessRlnWithFamMemInd
Business Rln With Officer Ent	false	BusinessRlnWithOfficerEntInd
Deductible Non Cash Contri	Yes (true)	DeductibleNonCashContriInd
Deductible Art Contribution	Yes (true)	DeductibleArtContributionInd
Terminate Operations	false	TerminateOperationsInd
Partial Liquidation	false	PartialLiquidationInd
Disregarded Entity	Yes (true)	DisregardedEntityInd
Related Entity	Yes (true)	RelatedEntityInd
Related Organization Ctrl Ent	Yes (true)	RelatedOrganizationCtrlEntInd
Transaction With Control Ent	Yes (true)	TransactionWithControlEntInd
Trnsfr Exmpt Non Chrtbl Rltd Org	false	TrnsfrExmptNonChrtblRltdOrgInd
Activities Conducted Prtshp	false	ActivitiesConductedPrtshpInd
Schedule O Required	Yes (true)	ScheduleORequiredInd
Info In Schedule O Part V	Yes (X)	InfoInScheduleOPartVInd
IRP Document	10934	IRPDocumentCnt
IRP Document W2 G	0	IRPDocumentW2GCnt
Backup Wthld Compliance	Yes (true)	BackupWthldComplianceInd
Employee	5944	EmployeeCnt
Employment Tax Returns Filed	Yes (true)	EmploymentTaxReturnsFiledInd
Unrelated Bus Incm Over Limit	Yes (true)	UnrelatedBusIncmOverLimitInd
Form990 T Filed	Yes (true)	Form990TFiledInd
Foreign Financial Account	Yes (true)	ForeignFinancialAccountInd
Foreign Country	OC	ForeignCountryCd
Prohibited Tax Shelter Trans	false	ProhibitedTaxShelterTransInd
Taxable Party Notification	false	TaxablePartyNotificationInd
Nondeductible Contributions	false	NondeductibleContributionsInd
Quid Pro Quo Contributions	Yes (true)	QuidProQuoContributionsInd
Quid Pro Quo Contri Discl	Yes (true)	QuidProQuoContriDisclInd
Form8282 Property Disposed Of	false	Form8282PropertyDisposedOfInd
Form8282 Filed	0	Form8282FiledCnt
Rcv Fnds To Pay Prsnl Bnft Cntrct	false	RcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft Cntrct	false	PayPremiumsPrsnlBnftCntrctInd
Form8899 Filedind	false	Form8899Filedind
Form1098 C Filed	Yes (true)	Form1098CFiledInd
DAF Excess Business Holdings	false	DAFExcessBusinessHoldingsInd
Taxable Distributions	false	TaxableDistributionsInd
Distribution To Donor	false	DistributionToDonorInd
Org Filed In Lieu Of Form1041	false	OrgFiledInLieuOfForm1041Ind
Licensed More Than One State	false	LicensedMoreThanOneStateInd
Indoor Tanning Services	false	IndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht Pymt	Yes (true)	SubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst Inc	false	SubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VI	Yes (X)	InfoInScheduleOPartVIInd
Governing Body Voting Members	47	GoverningBodyVotingMembersCnt
Independent Voting Member	43	IndependentVotingMemberCnt
Family Or Business Rln	Yes (true)	FamilyOrBusinessRlnInd
Delegation Of Mgmt Duties	false	DelegationOfMgmtDutiesInd
Change To Org Documents	false	ChangeToOrgDocumentsInd
Material Diversion Or Misuse	false	MaterialDiversionOrMisuseInd
Members Or Stockholders	false	MembersOrStockholdersInd
Election Of Board Members	false	ElectionOfBoardMembersInd
Decisions Subject To Approva	false	DecisionsSubjectToApprovaInd
Minutes Of Governing Body	Yes (true)	MinutesOfGoverningBodyInd
Minutes Of Committees	Yes (true)	MinutesOfCommitteesInd
Officer Mailing Address	false	OfficerMailingAddressInd
Local Chapters	false	LocalChaptersInd
Form990 Provided To Gvrn Body	Yes (true)	Form990ProvidedToGvrnBodyInd
Conflict Of Interest Policy	Yes (true)	ConflictOfInterestPolicyInd
Annual Disclosure Covered Prsn	Yes (true)	AnnualDisclosureCoveredPrsnInd
Regular Monitoring Enfrc	Yes (true)	RegularMonitoringEnfrcInd
Whistleblower Policy	Yes (true)	WhistleblowerPolicyInd
Document Retention Policy	Yes (true)	DocumentRetentionPolicyInd
Compensation Process CEO	Yes (true)	CompensationProcessCEOInd
Compensation Process Other	Yes (true)	CompensationProcessOtherInd
Investment In Joint Venture	Yes (true)	InvestmentInJointVentureInd
Written Policy Or Procedure	Yes (true)	WrittenPolicyOrProcedureInd
Upon Request	Yes (X)	UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

Field	Value	IRS element (for citing)
Person	Marnie S Matthews	PersonNm
Phone	3367585233	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	PO Box 7201	AddressLine1Txt
City	WinstonSalem	CityNm
State Abbreviation	NC	StateAbbreviationCd
ZIP	27109	ZIPCd

Field	Value	IRS element (for citing)
Info In Schedule O Part VII	Yes (X)	InfoInScheduleOPartVIIInd

Form990 Part VII Section A Form990PartVIISectionAGrp (63 entries)

TitleTitleTxt	Average Hours Per WeekAverageHoursPerWeekRt	Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt	Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd	Reportable Comp From OrgReportableCompFromOrgAmt	Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt	Other CompensationOtherCompensationAmt	OfficerOfficerInd	Key EmployeeKeyEmployeeInd	Highest Compensated EmployeeHighestCompensatedEmployeeInd	Former Ofcr Director TrusteeFormerOfcrDirectorTrusteeInd
Gerald F Roach
Board Chair	15.00	2.00	Yes (X)	$0	$0	$0
David W Dupree
Board ViceChair	6.00	5.00	Yes (X)	$0	$0	$0
Mit B Shah
Board ViceChair	6.00	0.60	Yes (X)	$0	$0	$0
John I Bitove Jr
Committee Chair	4.00	0.00	Yes (X)	$0	$0	$0
Shelmer D Blackburn Jr
Comm Vice Chair	5.00	0.00	Yes (X)	$0	$0	$0
Jeanne Whitman Bobbitt
Committee Chair	4.00	0.00	Yes (X)	$0	$0	$0
Morgan Briggs
Trustee	3.00	0.00	Yes (X)	$0	$0	$0
Peter C Brockway
Committee Chair	4.00	0.00	Yes (X)	$0	$0	$0
Thomas W Bunn
Trustee	3.00	0.00	Yes (X)	$0	$0	$0
Jocelyn Burton
Trustee	3.00	0.00	Yes (X)	$0	$0	$0
Lindsay Nicole Chambers
Trustee	3.00	0.00	Yes (X)	$0	$0	$0
Matthew S Crawford
Trustee	3.00	0.00	Yes (X)	$0	$0	$0
H Lawrence Culp Jr
Trustee	3.00	0.60	Yes (X)	$0	$0	$0
Jermyn M Davis
Trustee	5.00	0.00	Yes (X)	$0	$0	$0
Thomas A Dingledine
Committee Chair	4.00	0.00	Yes (X)	$0	$0	$0
James E Dixon
Trustee	3.00	0.00	Yes (X)	$0	$0	$0
Donna F Edwards
Comm Vice Chair	4.00	2.00	Yes (X)	$0	$0	$0
Eric W Eubank II
Comm Vice Chair	4.00	0.00	Yes (X)	$0	$0	$0
Herman E Eure
Comm Vice Chair	5.00	0.00	Yes (X)	$0	$0	$0
Lisbeth Clark Evans
Trustee	6.00	0.60	Yes (X)	$0	$0	$0
Curtis C Farmer
Comm Vice Chair	5.00	2.60	Yes (X)	$0	$0	$0
Mary R Farrell
Trustee	5.00	0.00	Yes (X)	$0	$0	$0
Helen Hough Feinberg
Trustee	3.00	0.00	Yes (X)	$0	$0	$0
Donald E Flow
Committee Chair	5.00	19.00	Yes (X)	$0	$0	$0
Richard Alan Fox
Comm Vice Chair	3.00	0.00	Yes (X)	$0	$0	$0
Frank B Holding Jr
Committee Chair	5.00	1.00	Yes (X)	$0	$0	$0
Lawrence D Hopkins MD
Trustee	3.00	37.00	Yes (X)	$0	$328,615	$43,010
Alice Kirby Horton
Trustee	4.00	0.00	Yes (X)	$0	$0	$0
John R Lowden
Trustee	3.00	0.60	Yes (X)	$0	$0	$0
Michael Frank Mahoney
Trustee	3.00	2.60	Yes (X)	$0	$0	$0
James J Marino
Committee Chair	5.00	7.00	Yes (X)	$0	$0	$0
John MMcAvoy
Committee Chair	5.00	0.00	Yes (X)	$0	$0	$0
Jane McGraw
Trustee	3.00	0.00	Yes (X)	$0	$0	$0
Ogden Phipps II
Trustee	3.00	0.60	Yes (X)	$0	$0	$0
Steven S Reinemund
Trustee	3.00	0.00	Yes (X)	$0	$0	$0
Prince Raney Rivers
Trustee	3.00	0.00	Yes (X)	$0	$0	$0
Jorge Rodriguez
Trustee	3.00	0.60	Yes (X)	$0	$0	$0
Harold O Rosser
Comm Vice Chair	4.00	0.70	Yes (X)	$0	$0	$0
Janice K Story
Trustee	3.00	2.00	Yes (X)	$0	$0	$0
Ben C Sutton Jr
Committee Chair	6.00	1.00	Yes (X)	$0	$0	$0
Lloyd P Tate Jr
Trustee	5.00	0.00	Yes (X)	$0	$0	$0
Cathy Wall Thomas MD
Committee Chair	5.00	2.00	Yes (X)	$0	$0	$0
Shannan Spence Townsend
Comm Vice Chair	5.00	0.60	Yes (X)	$0	$0	$0
John M Vann
Comm Vice Chair	5.00	6.60	Yes (X)	$0	$0	$0
David I Wahrhaftig
Committee Chair	6.00	0.00	Yes (X)	$0	$0	$0
Eric C Wiseman
Trustee	5.00	0.00	Yes (X)	$0	$0	$0
Nathan O Hatch PhD
Pres. & Trustee	29.00	11.00	Yes (X)	$1,987,864	$0	$387,831	Yes (X)
Julie A Freischlag MD
EVP Health Aff.	2.00	21.70		$0	$1,742,589	$353,250	Yes (X)
J Reid Morgan
S.VP, Sec, G.C.	19.70	20.30		$560,012	$0	$187,816	Yes (X)
Anita M Conrad
Asst Secretary	21.00	19.00		$194,592	$0	$39,096	Yes (X)
Rogan Kersh PhD
Provost	40.00	0.00		$591,565	$0	$159,282	Yes (X)
B Hofler Milam
EVP, CFO, Treas	37.50	2.50		$684,156	$0	$266,731	Yes (X)
Charles L Iacovou PhD
Dean, School of Business	40.00	0.00		$471,033	$0	$48,891		Yes (X)
Ronald D Wellman
Director of Athletics	40.00	0.00		$3,025,278	$0	$48,733		Yes (X)
Mark A Petersen
VP - Advancement	40.00	0.00		$542,361	$0	$136,603		Yes (X)
Michele Gillespie PhD
Dean, Wake Forest College	40.00	0.00		$307,959	$0	$63,371		Yes (X)
David P Clawson
Football Coach	40.00	0.00		$2,250,573	$0	$52,496			Yes (X)
Daniel R Manning
Basketball Coach	40.00	0.00		$2,125,702	$0	$44,898			Yes (X)
Jay A Sawvel
Asst F'ball Coach	40.00	0.00		$618,711	$0	$36,937			Yes (X)
Ajay Patel PhD
Prof, Sch of Busns	40.00	0.00		$477,702	$0	$63,264			Yes (X)
Andrew R Chan
VP Career Devel	40.00	0.00		$468,500	$0	$177,455			Yes (X)
James J Dunn
Former Chief Invest Officr	0.00	40.00		$0	$624,415	$26,500				Yes (X)
John D McConnell MD
Former EVP Health Affairs	0.00	40.00		$0	$5,552,781	$44,771				Yes (X)

Field	Value	IRS element (for citing)
Total Reportable Comp From Org	$14,306,008	TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org	$8,248,400	TotReportableCompRltdOrgAmt
Total Other Compensation	$2,180,935	TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K	491	IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed	Yes (true)	FormerOfcrEmployeesListedInd
Total Comp Greater Than150 K	Yes (true)	TotalCompGreaterThan150KInd
Compensation From Other Srcs	false	CompensationFromOtherSrcsInd

Contractor Compensation ContractorCompensationGrp (5 entries)

Address Line1ContractorAddress/USAddress/AddressLine1Txt	CityContractorAddress/USAddress/CityNm	State AbbreviationContractorAddress/USAddress/StateAbbreviationCd	ZIPContractorAddress/USAddress/ZIPCd	ServicesServicesDesc	CompensationCompensationAmt
Frank L Blum Construction Company
830 25th St NE	WinstonSalem	NC	27105	Construction	$36,830,717
Aramark Campus Services
1101 Market St 12th Fl	Philadelphia	PA	19107	Food Service	$24,902,393
IL Long Construction Co Inc
4117 Indiana Avenue	Winston Salem	NC	27105	Construction	$22,055,916
The Christman Co
408 South Elm Street	Greensboro	NC	27041	Construction	$14,465,023
NCS Pearson
13036 Collection Center Drive	Chicago	IL	60693	Testing/Counseling	$5,306,214

Field	Value	IRS element (for citing)
Cntrct Rcvd Greater Than100 K	5	CntrctRcvdGreaterThan100KCnt
Fundraising	$11,919	FundraisingAmt
Related Organizations	$2,353,533	RelatedOrganizationsAmt
Government Grants	$8,659,319	GovernmentGrantsAmt
All Other Contributions	$101,249,292	AllOtherContributionsAmt
Noncash Contributions	$16,082,610	NoncashContributionsAmt
Total Contributions	$112,274,063	TotalContributionsAmt

Program Service Revenue ProgramServiceRevenueGrp (5 entries)

DescDesc	BusinessBusinessCd	Total Revenue ColumnTotalRevenueColumnAmt	Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt
Athletic Programs	711210	$38,103,645	$38,103,645
Organized Activities	515100	$5,784,334	$5,784,334
Student Health Services	621400	$3,629,129	$3,629,129
Student Housing & Dining	721310	$42,605,254	$42,605,254
Tuition and Fees	611310	$352,884,002	$352,884,002

Total Oth Program Service Rev TotalOthProgramServiceRevGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$7,825,207	TotalRevenueColumnAmt
Related Or Exempt Func Income	$7,347,349	RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue	$477,858	UnrelatedBusinessRevenueAmt

Field	Value	IRS element (for citing)
Total Program Service Revenue	$450,831,571	TotalProgramServiceRevenueAmt

Investment Income InvestmentIncomeGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$7,171,835	TotalRevenueColumnAmt
Unrelated Business Revenue	-$2,112,988	UnrelatedBusinessRevenueAmt
Exclusion	$9,284,823	ExclusionAmt

Incm From Invest Bond Proceeds IncmFromInvestBondProceedsGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$0	TotalRevenueColumnAmt

Royalties Revenue RoyaltiesRevenueGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$3,003,442	TotalRevenueColumnAmt
Exclusion	$3,003,442	ExclusionAmt

Gross Rents GrossRentsGrp

Field	Value	IRS element (for citing)
Real	$12,384,682	RealAmt

Less Rental Expenses LessRentalExpensesGrp

Field	Value	IRS element (for citing)
Real	$6,295,624	RealAmt

Rental Income Or Loss RentalIncomeOrLossGrp

Field	Value	IRS element (for citing)
Real	$6,089,058	RealAmt

Net Rental Income Or Loss NetRentalIncomeOrLossGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$6,089,058	TotalRevenueColumnAmt
Unrelated Business Revenue	$1,677,046	UnrelatedBusinessRevenueAmt
Exclusion	$4,412,012	ExclusionAmt

Gross Amount Sales Assets GrossAmountSalesAssetsGrp

Field	Value	IRS element (for citing)
Securities	$334,258,189	SecuritiesAmt
Other	$959,147	OtherAmt

Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp

Field	Value	IRS element (for citing)
Securities	$290,495,811	SecuritiesAmt
Other	$1,190,372	OtherAmt

Gain Or Loss GainOrLossGrp

Field	Value	IRS element (for citing)
Securities	$43,762,378	SecuritiesAmt
Other	-$231,225	OtherAmt

Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$43,531,153	TotalRevenueColumnAmt
Exclusion	$43,531,153	ExclusionAmt

Field	Value	IRS element (for citing)
Fundraising Gross Income	$42,797	FundraisingGrossIncomeAmt
Contri Rpt Fundraising Event	$11,919	ContriRptFundraisingEventAmt
Fundraising Direct Expenses	$24,918	FundraisingDirectExpensesAmt

Net Incm From Fundraising Evt NetIncmFromFundraisingEvtGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$17,879	TotalRevenueColumnAmt
Exclusion	$17,879	ExclusionAmt

Net Income From Gaming NetIncomeFromGamingGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$0	TotalRevenueColumnAmt

Field	Value	IRS element (for citing)
Gross Sales Of Inventory	$10,091,580	GrossSalesOfInventoryAmt
Cost Of Goods Sold	$1,142,201	CostOfGoodsSoldAmt

Net Income Or Loss NetIncomeOrLossGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$8,949,379	TotalRevenueColumnAmt
Unrelated Business Revenue	$4,233,759	UnrelatedBusinessRevenueAmt
Exclusion	$4,715,620	ExclusionAmt

Other Revenue Misc OtherRevenueMiscGrp (3 entries)

DescDesc	BusinessBusinessCd	Total Revenue ColumnTotalRevenueColumnAmt	ExclusionExclusionAmt	Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt
Contract Revenue	900099	$697,674	$697,674
Executive Education Instr	611430	$1,958,418		$1,958,418
Sponsorship Payments	811000	$1,323,769	$1,323,769

Miscellaneous Revenue MiscellaneousRevenueGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$606,023	TotalRevenueColumnAmt
Unrelated Business Revenue	$221,684	UnrelatedBusinessRevenueAmt
Exclusion	$384,339	ExclusionAmt

Field	Value	IRS element (for citing)
Other Revenue Total	$4,585,884	OtherRevenueTotalAmt

Total Revenue TotalRevenueGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$636,454,264	TotalRevenueColumnAmt
Related Or Exempt Func Income	$452,312,131	RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue	$4,497,359	UnrelatedBusinessRevenueAmt
Exclusion	$67,370,711	ExclusionAmt

Grants To Domestic Orgs GrantsToDomesticOrgsGrp

Field	Value	IRS element (for citing)
Total	$3,091,916	TotalAmt
Program Services	$3,091,916	ProgramServicesAmt

Grants To Domestic Individuals GrantsToDomesticIndividualsGrp

Field	Value	IRS element (for citing)
Total	$116,434,694	TotalAmt
Program Services	$116,434,694	ProgramServicesAmt

Foreign Grants ForeignGrantsGrp

Field	Value	IRS element (for citing)
Total	$559,549	TotalAmt
Program Services	$559,549	ProgramServicesAmt

Benefits To Members BenefitsToMembersGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp

Field	Value	IRS element (for citing)
Total	$7,594,586	TotalAmt
Program Services	$3,037,834	ProgramServicesAmt
Management And General	$3,797,293	ManagementAndGeneralAmt
Fundraising	$759,459	FundraisingAmt

Comp Disqual Persons CompDisqualPersonsGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

Field	Value	IRS element (for citing)
Total	$204,000,889	TotalAmt
Program Services	$172,328,399	ProgramServicesAmt
Management And General	$20,410,274	ManagementAndGeneralAmt
Fundraising	$11,262,216	FundraisingAmt

Pension Plan Contributions PensionPlanContributionsGrp

Field	Value	IRS element (for citing)
Total	$16,100,797	TotalAmt
Program Services	$12,112,321	ProgramServicesAmt
Management And General	$2,728,923	ManagementAndGeneralAmt
Fundraising	$1,259,553	FundraisingAmt

Other Employee Benefits OtherEmployeeBenefitsGrp

Field	Value	IRS element (for citing)
Total	$22,283,781	TotalAmt
Program Services	$15,014,049	ProgramServicesAmt
Management And General	$3,676,157	ManagementAndGeneralAmt
Fundraising	$3,593,575	FundraisingAmt

Payroll Taxes PayrollTaxesGrp

Field	Value	IRS element (for citing)
Total	$13,383,760	TotalAmt
Program Services	$10,305,494	ProgramServicesAmt
Management And General	$2,141,403	ManagementAndGeneralAmt
Fundraising	$936,863	FundraisingAmt

Fees For Services Management FeesForServicesManagementGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Fees For Services Legal FeesForServicesLegalGrp

Field	Value	IRS element (for citing)
Total	$1,330,954	TotalAmt
Program Services	$214,474	ProgramServicesAmt
Management And General	$1,116,480	ManagementAndGeneralAmt

Fees For Services Accounting FeesForServicesAccountingGrp

Field	Value	IRS element (for citing)
Total	$260,068	TotalAmt
Program Services	$9,204	ProgramServicesAmt
Management And General	$250,864	ManagementAndGeneralAmt

Fees For Services Lobbying FeesForServicesLobbyingGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Fees For Services Prof Fundraising FeesForServicesProfFundraising

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp

Field	Value	IRS element (for citing)
Total	$6,849,777	TotalAmt
Program Services	$4,452,355	ProgramServicesAmt
Management And General	$2,397,422	ManagementAndGeneralAmt

Fees For Services Other FeesForServicesOtherGrp

Field	Value	IRS element (for citing)
Total	$25,590,252	TotalAmt
Program Services	$20,864,782	ProgramServicesAmt
Management And General	$3,222,215	ManagementAndGeneralAmt
Fundraising	$1,503,255	FundraisingAmt

Advertising AdvertisingGrp

Field	Value	IRS element (for citing)
Total	$3,616,001	TotalAmt
Program Services	$2,601,785	ProgramServicesAmt
Management And General	$6,408	ManagementAndGeneralAmt
Fundraising	$1,007,808	FundraisingAmt

Office Expenses OfficeExpensesGrp

Field	Value	IRS element (for citing)
Total	$10,708,956	TotalAmt
Program Services	$8,107,854	ProgramServicesAmt
Management And General	$1,221,248	ManagementAndGeneralAmt
Fundraising	$1,379,854	FundraisingAmt

Information Technology InformationTechnologyGrp

Field	Value	IRS element (for citing)
Total	$2,271,565	TotalAmt
Program Services	$1,997,092	ProgramServicesAmt
Management And General	$198,365	ManagementAndGeneralAmt
Fundraising	$76,108	FundraisingAmt

Royalties RoyaltiesGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Occupancy OccupancyGrp

Field	Value	IRS element (for citing)
Total	$9,097,230	TotalAmt
Program Services	$4,251,220	ProgramServicesAmt
Management And General	$4,722,140	ManagementAndGeneralAmt
Fundraising	$123,870	FundraisingAmt

Travel TravelGrp

Field	Value	IRS element (for citing)
Total	$10,769,358	TotalAmt
Program Services	$8,938,530	ProgramServicesAmt
Management And General	$942,257	ManagementAndGeneralAmt
Fundraising	$888,571	FundraisingAmt

Pymt Travel Entrtnmnt Pub Ofcl PymtTravelEntrtnmntPubOfclGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Conferences Meetings ConferencesMeetingsGrp

Field	Value	IRS element (for citing)
Total	$3,309,224	TotalAmt
Program Services	$3,070,925	ProgramServicesAmt
Management And General	$152,037	ManagementAndGeneralAmt
Fundraising	$86,262	FundraisingAmt

Interest InterestGrp

Field	Value	IRS element (for citing)
Total	$14,642,683	TotalAmt
Program Services	$13,693,506	ProgramServicesAmt
Management And General	$949,177	ManagementAndGeneralAmt

Payments To Affiliates PaymentsToAffiliatesGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Depreciation Depletion DepreciationDepletionGrp

Field	Value	IRS element (for citing)
Total	$45,970,833	TotalAmt
Program Services	$40,297,852	ProgramServicesAmt
Management And General	$5,672,981	ManagementAndGeneralAmt

Insurance InsuranceGrp

Field	Value	IRS element (for citing)
Total	$1,700,942	TotalAmt
Program Services	$689,130	ProgramServicesAmt
Management And General	$1,009,824	ManagementAndGeneralAmt
Fundraising	$1,988	FundraisingAmt

Other Expenses OtherExpensesGrp (4 entries)

DescDesc	TotalTotalAmt	Program ServicesProgramServicesAmt	Management And GeneralManagementAndGeneralAmt	FundraisingFundraisingAmt
Repairs and Maintenance	$13,279,018	$9,479,813	$3,365,919	$433,286
Library, Books & Publications	$7,147,754	$6,888,322	$182,990	$76,442
Non Capital Equip & Furnishing	$4,827,730	$3,878,909	$838,174	$110,647
Dues. Licenses, Subscriptions	$2,655,627	$2,015,372	$515,026	$125,229

All Other Expenses AllOtherExpensesGrp

Field	Value	IRS element (for citing)
Total	$6,232,460	TotalAmt
Program Services	$6,220,656	ProgramServicesAmt
Management And General	$8,496	ManagementAndGeneralAmt
Fundraising	$3,308	FundraisingAmt

Total Functional Expenses TotalFunctionalExpensesGrp

Field	Value	IRS element (for citing)
Total	$553,710,404	TotalAmt
Program Services	$470,556,037	ProgramServicesAmt
Management And General	$59,526,073	ManagementAndGeneralAmt
Fundraising	$23,628,294	FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

Field	Value	IRS element (for citing)
EOY	$0	EOYAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

Field	Value	IRS element (for citing)
BOY	$62,930,337	BOYAmt
EOY	$39,566,992	EOYAmt

Pledges And Grants Receivable PledgesAndGrantsReceivableGrp

Field	Value	IRS element (for citing)
BOY	$110,301,402	BOYAmt
EOY	$115,618,939	EOYAmt

Accounts Receivable AccountsReceivableGrp

Field	Value	IRS element (for citing)
BOY	$5,957,906	BOYAmt
EOY	$6,763,441	EOYAmt

Receivables From Officers Etc ReceivablesFromOfficersEtcGrp

Field	Value	IRS element (for citing)
BOY	$735,000	BOYAmt
EOY	$930,000	EOYAmt

Rcvbl From Disqualified Prsn RcvblFromDisqualifiedPrsnGrp

Field	Value	IRS element (for citing)
EOY	$0	EOYAmt

Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp

Field	Value	IRS element (for citing)
BOY	$25,024,135	BOYAmt
EOY	$21,952,981	EOYAmt

Inventories For Sale Or Use InventoriesForSaleOrUseGrp

Field	Value	IRS element (for citing)
BOY	$716,805	BOYAmt
EOY	$675,595	EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

Field	Value	IRS element (for citing)
BOY	$4,918,957	BOYAmt
EOY	$6,157,016	EOYAmt

Field	Value	IRS element (for citing)
Land Bldg Equip Cost Or Other Bss	$1,183,685,455	LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec	$487,986,315	LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

Field	Value	IRS element (for citing)
BOY	$633,571,094	BOYAmt
EOY	$695,699,140	EOYAmt

Investments Pub Traded Sec InvestmentsPubTradedSecGrp

Field	Value	IRS element (for citing)
BOY	$225,669,950	BOYAmt
EOY	$290,962,334	EOYAmt

Investments Other Securities InvestmentsOtherSecuritiesGrp

Field	Value	IRS element (for citing)
BOY	$846,552,573	BOYAmt
EOY	$888,897,850	EOYAmt

Investments Program Related InvestmentsProgramRelatedGrp

Field	Value	IRS element (for citing)
EOY	$0	EOYAmt

Intangible Assets IntangibleAssetsGrp

Field	Value	IRS element (for citing)
EOY	$0	EOYAmt

Other Assets Total OtherAssetsTotalGrp

Field	Value	IRS element (for citing)
BOY	$2,662,090	BOYAmt
EOY	$22,424,346	EOYAmt

Total Assets TotalAssetsGrp

Field	Value	IRS element (for citing)
BOY	$1,919,040,249	BOYAmt
EOY	$2,089,648,634	EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

Field	Value	IRS element (for citing)
BOY	$38,226,931	BOYAmt
EOY	$40,257,740	EOYAmt

Grants Payable GrantsPayableGrp

Field	Value	IRS element (for citing)
BOY	$8,221,936	BOYAmt
EOY	$8,137,885	EOYAmt

Deferred Revenue DeferredRevenueGrp

Field	Value	IRS element (for citing)
BOY	$33,913,058	BOYAmt
EOY	$33,221,603	EOYAmt

Tax Exempt Bond Liabilities TaxExemptBondLiabilitiesGrp

Field	Value	IRS element (for citing)
BOY	$171,516,292	BOYAmt
EOY	$261,706,572	EOYAmt

Escrow Account Liability EscrowAccountLiabilityGrp

Field	Value	IRS element (for citing)
BOY	$1,311,664	BOYAmt
EOY	$1,222,017	EOYAmt

Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp

Field	Value	IRS element (for citing)
BOY	$97,106,486	BOYAmt
EOY	$73,544,558	EOYAmt

Unsecured Notes Loans Payable UnsecuredNotesLoansPayableGrp

Field	Value	IRS element (for citing)
BOY	$125,000,000	BOYAmt
EOY	$125,000,000	EOYAmt

Other Liabilities OtherLiabilitiesGrp

Field	Value	IRS element (for citing)
BOY	$81,409,462	BOYAmt
EOY	$108,341,750	EOYAmt

Total Liabilities TotalLiabilitiesGrp

Field	Value	IRS element (for citing)
BOY	$556,705,829	BOYAmt
EOY	$651,432,125	EOYAmt

Field	Value	IRS element (for citing)
Organization Follows SFAS117	Yes (X)	OrganizationFollowsSFAS117Ind

Unrestricted Net Assets UnrestrictedNetAssetsGrp

Field	Value	IRS element (for citing)
BOY	$609,068,783	BOYAmt
EOY	$651,759,614	EOYAmt

Temporarily Rstr Net Assets TemporarilyRstrNetAssetsGrp

Field	Value	IRS element (for citing)
BOY	$347,994,414	BOYAmt
EOY	$342,594,904	EOYAmt

Permanently Rstr Net Assets PermanentlyRstrNetAssetsGrp

Field	Value	IRS element (for citing)
BOY	$405,271,223	BOYAmt
EOY	$443,861,991	EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

Field	Value	IRS element (for citing)
BOY	$1,362,334,420	BOYAmt
EOY	$1,438,216,509	EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

Field	Value	IRS element (for citing)
BOY	$1,919,040,249	BOYAmt
EOY	$2,089,648,634	EOYAmt

Field	Value	IRS element (for citing)
Reconcilation Revenue Expnss	$82,743,860	ReconcilationRevenueExpnssAmt
Net Unrlzd Gains Losses Invst	-$6,861,771	NetUnrlzdGainsLossesInvstAmt
Method Of Accounting Accrual	Yes (X)	MethodOfAccountingAccrualInd
Accountant Compile Or Review	false	AccountantCompileOrReviewInd
FS Audited	Yes (true)	FSAuditedInd

FS Audited Basis FSAuditedBasisGrp

Field	Value	IRS element (for citing)
Consolidated Basis Fincl Stmt	Yes (X)	ConsolidatedBasisFinclStmtInd

Field	Value	IRS element (for citing)
Audit Committee	Yes (true)	AuditCommitteeInd
Federal Grant Audit Required	Yes (true)	FederalGrantAuditRequiredInd
Federal Grant Audit Performed	Yes (true)	FederalGrantAuditPerformedInd

Schedule A IRS990ScheduleA

Field	Value	IRS element (for citing)
School	Yes (X)	SchoolInd

Gifts Grants Contri Rcvd170 GiftsGrantsContriRcvd170Grp

Field	Value	IRS element (for citing)
Current Tax Year Minus4 Years	$87,133,767	CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years	$72,144,441	CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years	$157,306,803	CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year	$85,906,758	CurrentTaxYearMinus1YearAmt
Current Tax Year	$112,285,982	CurrentTaxYearAmt
Total	$514,777,751	TotalAmt

Tax Rev Levied Orgnztnl Bnft170 TaxRevLeviedOrgnztnlBnft170Grp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Govt Furn Srvc Fclts Vl170 GovtFurnSrvcFcltsVl170Grp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Total Calendar Year170 TotalCalendarYear170Grp

Field	Value	IRS element (for citing)
Current Tax Year Minus4 Years	$87,133,767	CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years	$72,144,441	CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years	$157,306,803	CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year	$85,906,758	CurrentTaxYearMinus1YearAmt
Current Tax Year	$112,285,982	CurrentTaxYearAmt
Total	$514,777,751	TotalAmt

Field	Value	IRS element (for citing)
Substantial Contributors Tot	$57,472,974	SubstantialContributorsTotAmt
Public Support Total170	$457,304,777	PublicSupportTotal170Amt

Gross Investment Income170 GrossInvestmentIncome170Grp

Field	Value	IRS element (for citing)
Current Tax Year Minus4 Years	$25,521,576	CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years	$19,388,703	CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years	$62,678,782	CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year	$18,740,986	CurrentTaxYearMinus1YearAmt
Current Tax Year	$22,559,959	CurrentTaxYearAmt
Total	$148,890,006	TotalAmt

Unrelated Business Net Incm170 UnrelatedBusinessNetIncm170Grp

Field	Value	IRS element (for citing)
Current Tax Year Minus4 Years	$1,618,183	CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years	$1,974,386	CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years	$2,189,568	CurrentTaxYearMinus2YearsAmt
Total	$5,782,137	TotalAmt

Other Income170 OtherIncome170Grp

Field	Value	IRS element (for citing)
Current Tax Year Minus1 Year	$37,437	CurrentTaxYearMinus1YearAmt
Current Tax Year	$736,179	CurrentTaxYearAmt
Total	$773,616	TotalAmt

Field	Value	IRS element (for citing)
Total Support	$670,223,510	TotalSupportAmt
Gross Receipts Rltd Activities	$1,620,942,006	GrossReceiptsRltdActivitiesAmt
Public Support CY170	0.68230	PublicSupportCY170Pct
Public Support PY170	0.67120	PublicSupportPY170Pct
Thirty Thr Pct Suprt Tests CY170	Yes (X)	ThirtyThrPctSuprtTestsCY170Ind

Form990 Schedule A Part VI Form990ScheduleAPartVIGrp (2 entries)

Form And Line ReferenceFormAndLineReferenceDesc	ExplanationExplanationTxt
Part I: Additional Information	The filing organization is classified as a school under Internal Revenue Code ("IRC") Section 170(b)(1)(A)(ii). However, it also meets the 33 1/3% Support Test of IRC Section 170(b)(1)(A)(vi) for purposes of limiting the charitable gift disclosures to 2%, using the Special Rule on Schedule B. Schedule A, Part II is completed in order to utilize the Schedule B Special 2% Rule.
Support Schedule: Other Income Explanation	Miscellaneous Income $736,179

Schedule B IRS990ScheduleB

Contributor Information ContributorInformationGrp

Field	Value	IRS element (for citing)
Contributor	RESTRICTED	ContributorNum

Contributor Business Name ContributorBusinessName

Field	Value	IRS element (for citing)
Business Name Line1	RESTRICTED	BusinessNameLine1

Contributor US Address ContributorUSAddress

Field	Value	IRS element (for citing)
Address Line1	RESTRICTED	AddressLine1
Address Line2	RESTRICTED	AddressLine2
City	RESTRICTED	City
State	RESTRICTED	State
ZIP Code	RESTRICTED	ZIPCode

Field	Value	IRS element (for citing)
Total Contributions	RESTRICTED	TotalContributionsAmt

Schedule C IRS990ScheduleC

Field	Value	IRS element (for citing)
Form4720 Filed Section4955 Tax	false	Form4720FiledSection4955TaxInd
Correction Made	false	CorrectionMadeInd
Volunteers	false	VolunteersInd
Paid Staff Or Management	false	PaidStaffOrManagementInd
Media Advertisements	false	MediaAdvertisementsInd
Mailings Members	false	MailingsMembersInd
Publications Or Broadcast	false	PublicationsOrBroadcastInd
Grants Other Organizations	false	GrantsOtherOrganizationsInd
Direct Contact Legislators	Yes (true)	DirectContactLegislatorsInd
Direct Contact Legislators	$37,125	DirectContactLegislatorsAmt
Rallies Demonstrations	false	RalliesDemonstrationsInd
Other Activities	false	OtherActivitiesInd
Total Lobbying Expenditures	$37,125	TotalLobbyingExpendituresAmt
Not Described Section501c3	false	NotDescribedSection501c3Ind
Form4720 Filed4912 Tax	false	Form4720Filed4912TaxInd

Supplemental Information Detail SupplementalInformationDetail

Field	Value	IRS element (for citing)
Form And Line Reference	Part II-B, Line 1i - Other Activities Description	FormAndLineReferenceDesc
Explanation	The organization's medical school subsidiary organization has a Government Relations office. Working in coordination with that government relations office, the filing organization's employees will sometimes make direct contact with legislators, their staffs, government officials, or a legislative body. The Government Relations office was actively involved with several federal and state issues during the year, (including endowment tax, unrelated business income, other provisions in the Tax Cuts and Jobs Act, regenerative medicine, and developed political advocacy strategies regarding additional funding for graduate medical education slots), but because of the preponderance of current Health Care legislation, the Government Relations Office of the filing organization's subsidiary spent less time during the tax year on purely educational issues of greatest relevance to the filing organization. Additionally, the organization supported local Winston-Salem bond referendums regarding economic development, public safety facilities, and street and sidewalk development.	ExplanationTxt

Schedule D IRS990ScheduleD

Field	Value	IRS element (for citing)
Collection Used Pub Exhibition	Yes (X)	CollectionUsedPubExhibitionInd
Coll Used Scholarly Rsrch	Yes (X)	CollUsedScholarlyRsrchInd
Collection Used Preservation	Yes (X)	CollectionUsedPreservationInd
Solicited Assets Sale	false	SolicitedAssetsSaleInd
Agent Trustee Etc	Yes (true)	AgentTrusteeEtcInd
Beginning Balance	$3,588,431	BeginningBalanceAmt
Distributions During Year	$532,629	DistributionsDuringYearAmt
Ending Balance	$3,055,802	EndingBalanceAmt
Incl Escrow Custodial Acct Liab	Yes (true)	InclEscrowCustodialAcctLiabInd
Explanation Provided	Yes (X)	ExplanationProvidedInd

CY Endwmt Fund CYEndwmtFundGrp

Field	Value	IRS element (for citing)
Beginning Year Balance	$792,516,828	BeginningYearBalanceAmt
Contributions	$38,438,253	ContributionsAmt
Investment Earnings Or Losses	$48,975,003	InvestmentEarningsOrLossesAmt
Grants Or Scholarships	$19,930,228	GrantsOrScholarshipsAmt
Other Expenditures	$17,214,089	OtherExpendituresAmt
Administrative Expenses	$5,574,296	AdministrativeExpensesAmt
End Year Balance	$837,211,471	EndYearBalanceAmt

CY Minus1 Yr Endwmt Fund CYMinus1YrEndwmtFundGrp

Field	Value	IRS element (for citing)
Beginning Year Balance	$689,116,543	BeginningYearBalanceAmt
Contributions	$98,721,815	ContributionsAmt
Investment Earnings Or Losses	$42,556,841	InvestmentEarningsOrLossesAmt
Grants Or Scholarships	$16,890,539	GrantsOrScholarshipsAmt
Other Expenditures	$15,874,132	OtherExpendituresAmt
Administrative Expenses	$5,113,700	AdministrativeExpensesAmt
End Year Balance	$792,516,828	EndYearBalanceAmt

CY Minus2 Yr Endwmt Fund CYMinus2YrEndwmtFundGrp

Field	Value	IRS element (for citing)
Beginning Year Balance	$656,509,662	BeginningYearBalanceAmt
Contributions	$19,439,767	ContributionsAmt
Investment Earnings Or Losses	$52,606,427	InvestmentEarningsOrLossesAmt
Grants Or Scholarships	$16,960,403	GrantsOrScholarshipsAmt
Other Expenditures	$17,199,348	OtherExpendituresAmt
Administrative Expenses	$5,279,562	AdministrativeExpensesAmt
End Year Balance	$689,116,543	EndYearBalanceAmt

CY Minus3 Yr Endwmt Fund CYMinus3YrEndwmtFundGrp

Field	Value	IRS element (for citing)
Beginning Year Balance	$681,921,800	BeginningYearBalanceAmt
Contributions	$13,348,075	ContributionsAmt
Investment Earnings Or Losses	$1,264,626	InvestmentEarningsOrLossesAmt
Grants Or Scholarships	$17,115,679	GrantsOrScholarshipsAmt
Other Expenditures	$17,696,558	OtherExpendituresAmt
Administrative Expenses	$5,212,602	AdministrativeExpensesAmt
End Year Balance	$656,509,662	EndYearBalanceAmt

CY Minus4 Yr Endwmt Fund CYMinus4YrEndwmtFundGrp

Field	Value	IRS element (for citing)
Beginning Year Balance	$682,432,627	BeginningYearBalanceAmt
Contributions	$17,630,121	ContributionsAmt
Investment Earnings Or Losses	$14,391,190	InvestmentEarningsOrLossesAmt
Grants Or Scholarships	$16,708,857	GrantsOrScholarshipsAmt
Other Expenditures	$10,462,540	OtherExpendituresAmt
Administrative Expenses	$5,360,741	AdministrativeExpensesAmt
End Year Balance	$681,921,800	EndYearBalanceAmt

Field	Value	IRS element (for citing)
Board Designated Balance EOY	0.25190	BoardDesignatedBalanceEOYPct
Prmnnt Endowment Balance EOY	0.48900	PrmnntEndowmentBalanceEOYPct
Term Endowment Balance EOY	0.25910	TermEndowmentBalanceEOYPct
Endowments Held Unrelated Org	false	EndowmentsHeldUnrelatedOrgInd
Endowments Held Related Org	Yes (true)	EndowmentsHeldRelatedOrgInd
Related Org List Sch R	Yes (true)	RelatedOrgListSchRInd

Land LandGrp

Field	Value	IRS element (for citing)
Investment Cost Or Other Basis	$555,162	InvestmentCostOrOtherBasisAmt
Other Cost Or Other Basis	$17,637,036	OtherCostOrOtherBasisAmt
Book Value	$18,192,198	BookValueAmt

Buildings BuildingsGrp

Field	Value	IRS element (for citing)
Investment Cost Or Other Basis	$55,766,737	InvestmentCostOrOtherBasisAmt
Other Cost Or Other Basis	$509,840,843	OtherCostOrOtherBasisAmt
Depreciation	$214,185,480	DepreciationAmt
Book Value	$351,422,100	BookValueAmt

Leasehold Improvements LeaseholdImprovementsGrp

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	$305,662,251	OtherCostOrOtherBasisAmt
Depreciation	$147,132,145	DepreciationAmt
Book Value	$158,530,106	BookValueAmt

Equipment EquipmentGrp

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	$191,390,864	OtherCostOrOtherBasisAmt
Depreciation	$121,316,574	DepreciationAmt
Book Value	$70,074,290	BookValueAmt

Other Land Buildings OtherLandBuildingsGrp

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	$102,832,562	OtherCostOrOtherBasisAmt
Depreciation	$5,352,116	DepreciationAmt
Book Value	$97,480,446	BookValueAmt

Field	Value	IRS element (for citing)
Total Book Value Land Buildings	$695,699,140	TotalBookValueLandBuildingsAmt
Total Book Value Securities	$888,897,850	TotalBookValueSecuritiesAmt

Other Liabilities Org OtherLiabilitiesOrgGrp (4 entries)

DescDesc	AmtAmt
Annuities Payable	$17,980,728
Bond Premium	$26,940,026
Other Liabilities and Deferrals	$48,123,442
Postretirement Benefits	$15,297,554

Field	Value	IRS element (for citing)
Total Liability	$108,341,750	TotalLiabilityAmt
Footnote Text	Yes (X)	FootnoteTextInd
Total Rev Etc Audited Fincl Stmt	$515,008,459	TotalRevEtcAuditedFinclStmtAmt
Net Unrealized Gains Invst	-$6,861,771	NetUnrealizedGainsInvstAmt
Other Revenue	-$115,197,000	OtherRevenueAmt
Revenue Not Reported	-$122,058,771	RevenueNotReportedAmt
Revenue Subtotal	$637,067,230	RevenueSubtotalAmt
Other Revenues Not Included	-$612,966	OtherRevenuesNotIncludedAmt
Revenue Not Reported Fincl Stmt	-$612,966	RevenueNotReportedFinclStmtAmt
Total Revenue Per Form990	$636,454,264	TotalRevenuePerForm990Amt
Tot Expns Etc Audited Fincl Stmt	$439,126,370	TotExpnsEtcAuditedFinclStmtAmt
Other Expenses Included	$612,966	OtherExpensesIncludedAmt
Expenses Not Reported	$612,966	ExpensesNotReportedAmt
Expenses Subtotal	$438,513,404	ExpensesSubtotalAmt
Other Expenses Not Included	$115,197,000	OtherExpensesNotIncludedAmt
Expenses Not Rpt Fincl Stmt	$115,197,000	ExpensesNotRptFinclStmtAmt
Total Expenses Per Form990	$553,710,404	TotalExpensesPerForm990Amt

Supplemental Information Detail SupplementalInformationDetail (8 entries)

Form And Line ReferenceFormAndLineReferenceDesc	ExplanationExplanationTxt
Part III, Line 1a: If organization elected under SFAS 116 to not report are, historical treasures, o	The Consolidated Financial Statements do not contain a footnote regarding the University's art or museum collections. The collections are valued at approximately $18 million.
Part III, Line 4: Description of organization's collections and how it furthers its purpose.	The organization has collections of art, rare books, and artifacts within its facilities. These collections enhance the education of its students and provide research materials for its faculty. Artwork is displayed in many buildings on the organization's campus, accessible to students, employees, and visitors.
Part IV, Line 1b: Why is organization an agent, trustee, custodian or other intermediary for contrib	Certain endowment assets are held and managed for the filing organization and related organizations. The value of these assets allocated to related organizations is reported here and not shown on the filing organization's balance sheet.
Part IV, Line 2b: Explanation of escrow account liability	Agency accounts are held to provide supervision and banking ability for small student clubs and organizations that are formed by the current student body and may or may not last past the graduation of the members. The University fosters the students' desire to form associations that can function as a social unit on campus.
Part V, Line 4: Intended uses of the endowment fund.	Approximately 53.66% of the expendable endowment funds provided scholarships for Wake Forest University students during the fiscal year. 18.66% was distributed for department chair and faculty positions, including funds for research professorships. 27.68% supported educational programs generally, the libraries, general university operations, and other specific university needs, including infrastructure and capital funding. Due to the fluctuations of university and student needs, these percentages may change from year to year.
Part X : FIN48 Footnote	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, 2016 remain subject to examination by federal and state tax authorities. The University has evaluated uncertain tax positions for the years ended June 30, 2019 and 2018, 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, 2019 and 2018.
Part XII, Line 2d: Other expenses and losses per audited F/S	Rent Expense Reclass $6295624 Fundraising Expense Reclass $24918 COGS Reclass $1142201 Investment Management Fees Reclass $-6849777
Part XII, Line 4b: Other revenue amounts included on 990 but not included in F/S	Scholarship Reclass $XXX-XX-XXXX

Schedule E IRS990ScheduleE

Field	Value	IRS element (for citing)
Nondiscriminatory Policy Stmt	Yes (true)	NondiscriminatoryPolicyStmtInd
Policy Stmt In Brochures Etc	Yes (true)	PolicyStmtInBrochuresEtcInd
Plcy Pblczd Via Broadcast Media	Yes (true)	PlcyPblczdViaBroadcastMediaInd
Maintain Racial Comp Recs	Yes (true)	MaintainRacialCompRecsInd
Maintain Scholarships Recs	Yes (true)	MaintainScholarshipsRecsInd
Maintain Cpy Of Brochures Etc	Yes (true)	MaintainCpyOfBrochuresEtcInd
Maintain Cpy Of All Sol	Yes (true)	MaintainCpyOfAllSolInd
Discriminate Race Stdnts Rghts	false	DiscriminateRaceStdntsRghtsInd
Discriminate Race Admiss Plcy	false	DiscriminateRaceAdmissPlcyInd
Discriminate Race Emplm Fculty	false	DiscriminateRaceEmplmFcultyInd
Discriminate Race Schs	false	DiscriminateRaceSchsInd
Discriminate Race Educ Plcy	false	DiscriminateRaceEducPlcyInd
Discriminate Race Use Of Fclts	false	DiscriminateRaceUseOfFcltsInd
Discriminate Race Athlt Prog	false	DiscriminateRaceAthltProgInd
Discriminate Race Other Acty	false	DiscriminateRaceOtherActyInd
Government Financial Aid Rcvd	Yes (true)	GovernmentFinancialAidRcvdInd
Government Financial Aid Rvkd	false	GovernmentFinancialAidRvkdInd
Compliance With Rev Proc7550	Yes (true)	ComplianceWithRevProc7550Ind

Supplemental Information Detail SupplementalInformationDetail (4 entries)

Form And Line ReferenceFormAndLineReferenceDesc	ExplanationExplanationTxt
Schedule E, Line 3 - Racially Nondiscriminatory Policy Publicized	Wake Forest University is committed to diversity, inclusion, and the spirit of Pro Humanitate. In adherence with applicable laws and as provided by University policies, the University prohibits discrimination in its employment practices and its educational programs and activities on the basis of race, color, religion, national origin, sex, age, sexual orientation, gender identity and expression, genetic information, disability, and veteran status. Additionally, the University promotes the full realization of equal employment opportunity for women, minorities, persons with disabilities, and veterans through its affirmative action program. The University publishes its nondiscrimination policy on its web site and in the undergraduate bulletin, which is distributed to all students annually. Nondiscrimination language appears in employment advertising and in ads for the University's educational programs and is available at www.wfu.edu
Schedule E, Line 4 - Explanation of Records and Materials Not Maintained
Schedule E, Line 5 - Explanation of Organization Discrimination by Race
Schedule E, Line 6 - Explanation of Aid or Assistance from Governmental Agency	Wake Forest University participates in government loan and scholarship programs on behalf of its students. Funds are awarded to eligible students as part of the University's educational purpose. Funds are awarded to eligible students on a nondiscriminatory basis. In addition, government agencies award grants to the University for research.

Schedule F IRS990ScheduleF

Field	Value	IRS element (for citing)
Grant Records Maintained	Yes (true)	GrantRecordsMaintainedInd

Account Activities Outside US AccountActivitiesOutsideUSGrp (55 entries)

RegionRegionTxt	OfficesOfficesCnt	EmployeeEmployeeCnt	Type Of Activities ConductedTypeOfActivitiesConductedTxt	Specific Services ProvidedSpecificServicesProvidedTxt	Region Total ExpendituresRegionTotalExpendituresAmt
Ctr America & Caribbean	0	0	Program Service	Study Abroad	$56,222
Europe & North Atlantic	0	0	Program Service	Services	$24,493
Europe & North Atlantic	0	0	Program Service	Research	$175,210
East Asia & Pacific	0	0	Program Service	Research	$54,317
East Asia & Pacific	1	2	Program Service	Study Abroad	$217,617
Europe & North Atlantic	6	52	Program Service	Study Abroad	$4,397,622
Europe & North Atlantic	0	0	Program Service	Conferences	$287,172
Ctr America & Caribbean	0	0	Program Service	Research	$15,737
South America	0	0	Fundraising		$1,430
Middle East & North Africa	0	0	Program Service	Research	$6,607
Sub-Saharan Africa	1	4	Program Service	Research	$177,213
North America	0	0	Program Service	Conferences	$60,611
North America	0	0	Program Service	Research	$11,302
South America	1	5	Program Service	Study Abroad	$320,278
Europe & North Atlantic	0	0	Program Service	Depr'n on foreign assets	$315,536
South America	2	58	Program Service	Research	$991,002
South America	0	0	Program Service	Conferences	$21,056
Sub-Saharan Africa	0	0	Program Service	Serv/Educ Trips	$255
Europe & North Atlantic	0	0	Prog-Related Assets Book Value		$3,015,472
South Asia	0	0	Program Services	Study Abroad	$161,098
Sub-Saharan Africa	0	0	Prog-Related Assets Book Value		$51,722
South America	0	0	Program Services	Depr'n on foreign assets	$13,723
Europe & North Atlantic	0	0	Program Services	Recruiting	$63,163
South Asia	0	0	Fundraising		$41,767
Ctr America & Caribbean	0	0	Program Services	Serv/Educ Trips	$10,895
Europe & North Atlantic	0	0	Fundraising		$144,657
Europe & North Atlantic	0	0	Program Services	Serv/Educ Trips	$154,642
East Asia & Pacific	0	0	Program Service	Conference	$55,204
East Asia & Pacific	0	0	Program Service	Recruiting	$12,311
East Asia & Pacific	0	0	Fundraising		$17,289
Middle East & North Africa	0	0	Program Service	Conferences	$12,192
Ctr America & Caribbean	0	0	Program Service	Conferences	$29,833
North America	0	0	Program Services	Services	$2,700
North America	0	0	Program Services	Recruiting	$12,755
South America	0	0	Program Services	Recruiting	$11,518
South Asia	0	0	Program Services	Conferences	$16,089
South Asia	0	0	Program Services	Recruiting	$30,127
South Asia	0	0	Program Services	Research	$12,200
Sub-Saharan Africa	0	0	Program Services	Conferences	$8,611
Russia & the Ind States	0	0	Program Services	Conferences	$7,976
Europe & North Atlantic	0	0	Investments Book Value		$767
Sub-Saharan Africa	0	0	Program Service	Depr'n on foreign assets	$8,940
Sub-Saharan Africa	0	0	Program Service	Study Abroad	$61,760
South America	0	0	Prog-Related Assets Book Value		$18,544
North America	0	0	Program Services	Study Abroad	$871
Ctr America & Caribbean	0	0	Program Services	Recruiting	$1,702
East Asia & Pacific	0	0	Program Services	Serv/Educ Trips	$38,850
Russia & The Ind States	0	0	Program Services	Research	$6,683
Sub-Saharan Africa	0	0	Fundraising	Services	$5,512
Middle East & North Africa	0	0	Program Services	Recruiting	$3,591
Sub-Saharan Africa	0	0	Program Services	Recruiting	$373
Middle East & North Africa	0	0	Program Services	Study Abroad	$72,719
Russia & The Ind States	0	0	Program Services	Study Abroad	$5,743
North America	0	0	Program Services	Serv/Educ Trips	$321
Middle East & North Africa	0	0	Program Services	Serv/Educ Trips	$3,000

Field	Value	IRS element (for citing)
Subtotal Offices	11	SubtotalOfficesCnt
Subtotal Employees	121	SubtotalEmployeesCnt
Total Office	11	TotalOfficeCnt
Total Employee	121	TotalEmployeeCnt
Subtotal Spent	$7,133,425	SubtotalSpentAmt
Continuation Spent	$4,115,575	ContinuationSpentAmt
Total Spent	$11,249,000	TotalSpentAmt

Grants To Org Outside US GrantsToOrgOutsideUSGrp (3 entries)

RegionRegionTxt	Purpose Of GrantPurposeOfGrantTxt	Cash GrantCashGrantAmt	Manner Of Cash DisbursementMannerOfCashDisbursementTxt
East Asia & Pac	Research Subcon	$8,869	Check/wire
Europe & N Atl	Research Subcon	$12,201	Check/wire
South America	Research Subcon	$766,084	Check/wire

Field	Value	IRS element (for citing)
Total501c3 Org	3	Total501c3OrgCnt

Foreign Individuals Grants ForeignIndividualsGrantsGrp (2 entries)

Type Of AssistanceTypeOfAssistanceTxt	RegionRegionTxt	RecipientRecipientCnt	Cash GrantCashGrantAmt	Manner Of Cash DisbursementMannerOfCashDisbursementTxt
Student scholarships	Europe & N Atlantic	9	$18,358	Check/wire
Student scholarships	South America	1	$2,000	Check/wire

Field	Value	IRS element (for citing)
Transfer To Foreign Corp	Yes (true)	TransferToForeignCorpInd
Interest In Foreign Trust	false	InterestInForeignTrustInd
Foreign Corp Ownership	Yes (true)	ForeignCorpOwnershipInd
Passive Foreign Investmest Co	Yes (true)	PassiveForeignInvestmestCoInd
Foreign Partnership	Yes (true)	ForeignPartnershipInd
Boycott Countries	Yes (true)	BoycottCountriesInd

Supplemental Information Detail SupplementalInformationDetail (4 entries)

Form And Line ReferenceFormAndLineReferenceDesc	ExplanationExplanationTxt
Part I, Line 2 - Grantmakers Explanation For Monitoring Use of Funds Outside US	The organization provides funding to faculty for conferences, research and other projects and scholarships to students for study abroad, research and other projects. Faculty and staff expenses must be substantiated under the Accountable Plan to ensure proper use of funds.The Organization sometimes provides operating funds to collaborative organizations and charitable foreign organizations, generally expenditures are reimbursed upon the submission of appropriate documentation. Other activities funded in advance are subject to review for conformity with the approved budgets.
Part I, Line 3f - Method of Accounting	The Organization uses the accrual method of accounting on its financial statements and all cash grants and noncash assistance is reported on Schedule F using this method.
Part I, Line 3f - Investments and Expenditures	The Organization uses the accrual method of accounting on its financial statements, therefore all investments and expenditures shown on Schedule F are based on that method.Investments are reported at Net Book Value as of the end of the Organization's fiscal year. The valuation and location of investments comes from investment managers and investment financial statements external to the filing organization. Program related assets held in the various regions are reported at net book value according to the organization's fixed asset ledger as of the end of the fiscal year.
Part II, Line 1 - Method of Accounting	Grants and subcontracts are provided with the understanding that organizations will expend funds according to grant and subcontract agreements. Information is provided by the grantees to document that funds are expended for their intended purpose.

Schedule G IRS990ScheduleG

Field	Value	IRS element (for citing)
Agrmt Prof Fundraising Acty	false	AgrmtProfFundraisingActyInd

Fundraising Event Information FundraisingEventInformationGrp

Field	Value	IRS element (for citing)
Event1	Law Events	Event1Nm
Gross Receipts Event1	$27,994	GrossReceiptsEvent1Amt
Charitable Contri Event1	$5,673	CharitableContriEvent1Amt
Gross Revenue Event1	$22,321	GrossRevenueEvent1Amt
Non Cash Prizes Event1	$82	NonCashPrizesEvent1Amt
Food And Beverage Event1	$126	FoodAndBeverageEvent1Amt
Other Direct Expenses Event1	$5,018	OtherDirectExpensesEvent1Amt
Event2	SGA 5K	Event2Nm
Gross Receipts Event2	$9,500	GrossReceiptsEvent2Amt
Charitable Contri Event2	$3,604	CharitableContriEvent2Amt
Gross Revenue Event2	$5,896	GrossRevenueEvent2Amt
Non Cash Prizes Event2	$1,072	NonCashPrizesEvent2Amt
Food And Beverage Event2	$126	FoodAndBeverageEvent2Amt
Other Direct Expenses Event2	$5,177	OtherDirectExpensesEvent2Amt
Other Events Total	2	OtherEventsTotalCnt
Gross Receipts Other Events	$17,222	GrossReceiptsOtherEventsAmt
Charitable Contri Other Events	$2,642	CharitableContriOtherEventsAmt
Gross Revenue Other Events	$14,580	GrossRevenueOtherEventsAmt
Non Cash Prizes Other Events	$2,486	NonCashPrizesOtherEventsAmt
Food And Beverage Other Events	$9,220	FoodAndBeverageOtherEventsAmt
Entertainment Other Events	$695	EntertainmentOtherEventsAmt
Oth Direct Expnss Other Events	$916	OthDirectExpnssOtherEventsAmt
Gross Receipts Total	$54,716	GrossReceiptsTotalAmt
Charitable Contributions Tot	$11,919	CharitableContributionsTotAmt
Gross Revenue Total Events	$42,797	GrossRevenueTotalEventsAmt
Non Cash Prizes Total Events	$3,640	NonCashPrizesTotalEventsAmt
Food And Beverage Total Events	$9,472	FoodAndBeverageTotalEventsAmt
Entertainment Total Events	$695	EntertainmentTotalEventsAmt
Oth Direct Expnss Total Events	$11,111	OthDirectExpnssTotalEventsAmt
Direct Expense Summary Events	$24,918	DirectExpenseSummaryEventsAmt
Net Income Summary	$17,879	NetIncomeSummaryAmt

Schedule I IRS990ScheduleI

Field	Value	IRS element (for citing)
Grant Records Maintained	Yes (true)	GrantRecordsMaintainedInd

Recipient Table RecipientTable (33 entries)

Address Line1USAddress/AddressLine1Txt	CityUSAddress/CityNm	State AbbreviationUSAddress/StateAbbreviationCd	ZIPUSAddress/ZIPCd	Recipient EINRecipientEIN	IRC SectionIRCSectionDesc	Cash GrantCashGrantAmt	Non Cash AssistanceNonCashAssistanceAmt	Purpose Of GrantPurposeOfGrantTxt
American Heart Association
7272 Greenville Avenue	Dallas	TX	75231	135613797	501(c)(3)	$7,500	$0	Charitable Contribution
Bookmarks Inc
PO Box 11867	WinstonSalem	NC	27116	542152610	501(c)(3)	$10,000	$0	Sponsor Book Event
Brigham & Womens Hospital
399 Revolution Drive No 645	Somerville	MA	02145	042312909	501(c)(3)	$35,769	$0	Research Subcontract
Carnegie Mellon University
5000 Forbes Avenue	Pittsburgh	PA	25213	250969449	501(c)(3)	$5,175	$0	Research Subcontract
Catholic University of Amer
620 Michigan Ave NE	Washington	DC	20064	530196583	501(c)(3)	$17,811	$0	Research Subcontract
Chris Paul Family Foundation
6524 Shallowford Road Unit 4	Lewsiville NC	NC	27023	472373649	501(c)(3)	$10,000	$0	Charitable Contribution
Duke University
324 Blackwell Street	Durham	NC	27701	560532129	501(c)(3)	$7,799	$0	Research subcontract
East Carolina University
1001 East 5th Street	Greenville	NC	27858	566000403	501(c)(3)	$18,319	$0	Research subcontract
Habitat For Humanity
339 Witt Street	WinstonSalem	NC	27103	561448955	501(c)(3)	$32,500	$0	Habitat House Sponsor
Hispanic Summer Program Inc
3041 Broadway	New York	NY	10027	383708943	501(c)(3)	$5,500	$0	Charitable Contribution
Junior Achiev of the Triad
3220 Northline Avenue	Greensboro	NC	27408	560844838	501(c)(3)	$8,000	$0	Charitable Contribution
Lawrence Berkeley Natl Lab
1 Cyclotron Road	Berkeley	CA	94720	942951741	501(c)(3)	$45,882	$0	Research subcontract
Leadership Winston-Salem
624 W Sixth St Ste 110	WinstonSalem	NC	27101	581574887	501(c)(3)	$10,000	$0	Sponsorship General Support
Neighbors For Better Neighbor
502 N Broad St	WinstonSalem	NC	27101	311598244	501(c)(3)	$10,000	$0	Charitable Contribution
North Carolina State University
Office-Grants Contracts Box 7214	Raleigh	NC	27695	566000756	501(c)(3)	$43,569	$0	Research Subcontract
Old Hickory Council BSA
6600 Silas Creek Parkway	WinstonSalem	NC	27106	560529985	501(c)(3)	$42,000	$0	Charitable Contribution
Piedmont Triad Partnership
PO Box 2672	High Point	NC	27261	561750279	501(c)(3)	$10,000	$0	Charitable Contribution
Reynolda House Inc
PO Box 7287	WinstonSalem	NC	27109	560810676	501(c)(3)	$405,000	$0	Operations Support
RiverRun International Film
305 W Fourth Street	WinstonSalem	NC	27101	200254183	501(c)(3)	$25,000	$0	Sponsorship - General Support
Salvation Army
2290 Premier Park Lane	WinstonSalem	NC	27105	580660607	501(c)(3)	$10,000	$0	Charitable Contribution
Senior Services Inc
2895 Shorefair Drive	WinstonSalem	NC	27105	561085968	501(c)(3)	$10,000	$0	Charitable Contribution
UNC Chapel Hill
104 Airport Drive CB 1270	Chapel Hill	NC	27514	566001393	501(c)(3)	$520,290	$0	Research subcontract
Univ of GA Research Fdn
456 East Broad Street	Athens	GA	30602	581353149	501(c)(3)	$13,450	$0	Research subcontract
University of Tennessee
1331 Circle Park Drive	Knoxville	TN	37916	626001636	501(c)(3)	$36,894	$0	Research Subcontract
Virginia Polytechnic Inst
300 Turner St NW Ste 4200	Blacksburg	VA	24061	546001758	501(c)(3)	$45,106	$0	Research Subcontract
Wake Forest College Birthplace Society
PO Box 494	Wake Forest	NC	27588	566072013	501(c)(3)	$88,964	$0	Operations Support
Wake Forest Univ Health Scien
Medical Center Blvd	WinstonSalem	NC	27157	223849199	501(c)(3)	$235,159	$0	Research Subcontract
Winston Salem Business Inc
1080 W Fourth Street	WinstonSalem	NC	27101	510436665	501(c)(3)	$10,000	$0	Support Local Econ Dev'mt
Winston-Salem Alliance
100 North Main Street Suite	WinstonSalem	NC	27101	311726654	501(c)(6)	$10,150	$0	Charitable Contribution
Winston-Salem Foundation
751 W Fourth Streetq	WinstonSalem	NC	27101	566037615	501(c)(3)	$100,000	$0	Local Econ/Edu Dev'mt
Woods Hole Research Center
149 Woods Hole Road	Falmouth	MA	02540	043005094	501(c)(3)	$20,563	$0	Research Subcontract
W-S Chamber of Commerce
411 W Fourth St Ste 211	WinstonSalem	NC	27101	560459820	501(c)(6)	$10,000	$0	General Support & Membership
Yale University
PO Box 208239	New Haven	CT	06520	060646973	501(c)(3)	$146,483	$0	Research subcontract

Field	Value	IRS element (for citing)
Total501c3 Org	31	Total501c3OrgCnt
Total Other Org	2	TotalOtherOrgCnt

Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp (9 entries)

Grant TypeGrantTypeTxt	RecipientRecipientCnt	Cash GrantCashGrantAmt	Non Cash AssistanceNonCashAssistanceAmt	Valuation Method UsedValuationMethodUsedDesc	Non Cash AssistanceNonCashAssistanceDesc
Departmental Scholarships	826	$951,918
Grants for Student Travel	407
General Tuition Scholarships	3269		$92,904,063	Univ. charges	Tuition discounts
Tuition Concessions	112		$4,501,050	Univ. charges	Direct tuition payments
Athletic Tuition Awards	321		$13,726,466	Univ. charges	Tuition discounts
ROTC Scholarships	29	$144,486
Athletic Room & Board	246	$2,992,742
Study Abroad Scholarships	237	$1,012,963	$2,061,671	Univ. charges	WFU Program payments
Third Party Scholarships	635	$46,177	$3,587,052	Univ. charges	Direct tuition payments

Supplemental Information Detail SupplementalInformationDetail

Field	Value	IRS element (for citing)
Form And Line Reference	Grantmaker's Description of How Grants are Used	FormAndLineReferenceDesc
Explanation	Wake Forest University carefully selects qualified exempt organizations for its contributions and provides support for worthy projects and events in which the University has an interest.Grants provided to students are monitored either through use -for University tuition and fees- or by requiring substantiation from the students for research projects or scholastic travel grants.Research subcontracts are awarded to qualifying research institutes able to complete research projects and monitored during such projects as well as by reviewing and collating the end results of the work.	ExplanationTxt

Schedule J IRS990ScheduleJ

Field	Value	IRS element (for citing)
First Class Or Charter Travel	Yes (X)	FirstClassOrCharterTravelInd
Travel For Companions	Yes (X)	TravelForCompanionsInd
Idemnification Gross Up Pmts	Yes (X)	IdemnificationGrossUpPmtsInd
Discretionary Spending Acct	Yes (X)	DiscretionarySpendingAcctInd
Housing Allowance Or Residence	Yes (X)	HousingAllowanceOrResidenceInd
Club Dues Or Fees	Yes (X)	ClubDuesOrFeesInd
Personal Services	Yes (X)	PersonalServicesInd
Written Policy Ref T And E Expnss	Yes (true)	WrittenPolicyRefTAndEExpnssInd
Substantiation Required	Yes (true)	SubstantiationRequiredInd
Compensation Committee	Yes (X)	CompensationCommitteeInd
Independent Consultant	Yes (X)	IndependentConsultantInd
Form990 Of Other Organizations	Yes (X)	Form990OfOtherOrganizationsInd
Written Employment Contract	Yes (X)	WrittenEmploymentContractInd
Compensation Survey	Yes (X)	CompensationSurveyInd
Board Or Committee Approval	Yes (X)	BoardOrCommitteeApprovalInd
Severance Payment	Yes (true)	SeverancePaymentInd
Supplemental Nonqual Rtr Plan	Yes (true)	SupplementalNonqualRtrPlanInd
Equity Based Comp Arrngm	false	EquityBasedCompArrngmInd
Comp Based On Revenue Of Flng Org	false	CompBasedOnRevenueOfFlngOrgInd
Comp Bsd On Rev Related Orgs	false	CompBsdOnRevRelatedOrgsInd
Comp Bsd Net Earns Flng Org	false	CompBsdNetEarnsFlngOrgInd
Comp Bsd Net Earns Rltd Orgs	false	CompBsdNetEarnsRltdOrgsInd
Any Non Fixed Payments	Yes (true)	AnyNonFixedPaymentsInd
Initial Contract Exception	false	InitialContractExceptionInd
Rebuttable Presumption Proc	false	RebuttablePresumptionProcInd

Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (18 entries)

TitleTitleTxt	Base Compensation Filing OrgBaseCompensationFilingOrgAmt	Other Compensation Filing OrgOtherCompensationFilingOrgAmt	Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt	Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt	Total Compensation Filing OrgTotalCompensationFilingOrgAmt	Bonus Filing OrganizationBonusFilingOrganizationAmount	Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt	Bonus Related OrganizationsBonusRelatedOrganizationsAmt	Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt	Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt	Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt	Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt	Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt	Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt
Ajay Patel PhD
Prof, Sch of Busns	$477,306	$396	$27,500	$35,764	$540,966
Andrew R Chan
VP Career Devel	$407,786	$20,714	$140,998	$36,457	$645,955	$40,000
Anita M Conrad
Asst Secretary	$184,196	$396	$19,200	$19,896	$233,688	$10,000
B Hofler Milam
EVP, CFO, Treas	$623,555	$20,601	$240,480	$26,251	$950,887	$40,000
Charles L Iacovou PhD
Dean, School of Business	$423,863	$17,170	$27,500	$21,391	$519,924	$30,000
Daniel R Manning
Basketball Coach	$1,587,070	$536,132	$20,625	$24,273	$2,170,600	$2,500
David P Clawson
Football Coach	$2,124,611	$35,962	$20,625	$31,871	$2,303,069	$90,000
J Reid Morgan
S.VP, Sec, G.C.	$499,312	$20,700	$107,368	$80,448	$747,828	$40,000
James J Dunn
Former Chief Invest Officr							$559,017	$65,398	$11,000	$15,500	$650,915
Jay A Sawvel
Asst F'ball Coach	$428,736	$168,975	$13,750	$23,187	$655,648	$21,000
John D McConnell MD
Former EVP Health Affairs							$1,038,530		$23,648	$21,123	$5,597,552	$4,514,251	$3,858,352
Julie A Freischlag MD
EVP Health Aff.							$1,198,946	$533,149	$330,402	$22,848	$2,095,839	$10,494
Lawrence D Hopkins MD
Trustee							$310,329	$10,000	$23,404	$19,606	$371,625	$8,286
Mark A Petersen
VP - Advancement	$476,301	$26,060	$112,500	$24,103	$678,964	$40,000
Michele Gillespie PhD
Dean, Wake Forest College	$278,532	$9,427	$27,500	$35,871	$371,330	$20,000
Nathan O Hatch PhD
Pres. & Trustee	$908,781	$849,068	$313,191	$74,640	$2,375,695	$230,015								$775,125
Rogan Kersh PhD
Provost	$533,328	$11,994	$134,123	$25,159	$750,847	$46,243
Ronald D Wellman
Director of Athletics	$919,730	$2,105,548	$27,500	$21,233	$3,074,011									$2,076,234

Supplemental Information Detail SupplementalInformationDetail (3 entries)

Form And Line ReferenceFormAndLineReferenceDesc	ExplanationExplanationTxt
Part I, Line 1a: Relevant information in regards to selections on 1a.	Charter Travel: Charter travel is sometimes made available for various business and scheduling needs of the officers who are traveling. Athletics personnel sometimes use charters for team travel. Chartered flights are sometimes provided by donors to the university. As such travel is for business purposes only, it is not treated as taxable.Travel for companions: Reimbursed spousal travel is allowed per the filing organization's policy when pursuant to a bona fide business purpose. To the extent that there is a business purpose for the travel, it is not treated as taxable.Tax indemnification: Individuals may have certain payments grossed up at the discretion of the President, Board of Trustees, CFO, or as provided by their employment contract. All such payments are considered taxable.The President is provided lodging for the convenience of the University as a condition of his employment, and as such, pursuant to IRC Section 119, it is not deemed a taxable benefit. Certain services, such as cleaning, landscaping and maintenance, are provided as part of the operation of the President's University-owned residence. The value of cleaning attributed to personal spaces is included in the President's taxable income.Social Club dues are provided by the University when membership fulfills a university business purpose. All such dues are included in taxable compensation when applicable.The President has a discretionary spending account which is monitored against the University's Accountable Plan. Any expenses deemed personal are treated as taxable compensation.
Part I, Line 7: Non-Fixed payments not listed above	Various Officers and Key Employees have incentive compensation components contained in their employment agreements. These are often goal-based and are determined in the course of evaluation of the employee's performance by his or her supervisor or the compensation committee of the filing organization's board, as applicable. Others are awarded discretionary amounts, but within budgetary constraints. Other non-fixed payments may include sums for relocation that are typically included as a provision in an employment agreement. All such payments are reflected on the individual's W-2 when applicable.
Part III, Additional Information	The following individuals have amounts included in Schedule J, column D (nontaxable benefits) for tuition provided to family members under the Wake Forest University Tuition Concession Plan for Dependent Children, available to all employees.J. Reid Morgan: $49,225 Andrew Chan: $9,856Ajay Patel: $9,946Michele Gillespie: $19,892David Clawson: $4,973All compensation provided to Julie Ann Freischlag M.D. (Current EVP- Health Affairs) and John D. McConnell, M.D. (Former EVP- Health Affairs) was paid by a related organization, Wake Forest University Health Sciences (WFUHS), for their services as officers of that related organization (and other related and affiliated organizations comprising the academic medical center of which the filing organization's Medical School is a part) and not for any of their services as an officer of the filing organization. Wake Forest University Baptist Medical Center (WFUBMC) is the organization that has been delegated authority to operate WFUHS and the North Carolina Baptist Hospital (NCBH), an unrelated but affiliated organization, and all of the respective subsidiaries of each of WFUHS and NCBH. WFUBMCs two equal members are the filing organization (WFU) and NCBH; Dr. McConnell was the CEO of WFUBMC, WFUHS and NCBH through 4-26-17; Dr. Julie A. Freischlag succeeded Dr. McConnell in that office effective 4-27-17. Compensation paid to James J. Dunn, former VP and Chief Investment Officer of the filing organization, was paid by the related organization, Verger Capital Management LLC, which has contracted to manage the filing organization's endowment assets.

Schedule K IRS990ScheduleK

Tax Exempt Bonds Issues TaxExemptBondsIssuesGrp (3 entries)

Bond ReferenceBondReferenceCd	Bond Issuer EINBondIssuerEIN	CUSIPCUSIPNum	Bond IssuedBondIssuedDt	Issue PriceIssuePriceAmt	PurposePurposeDesc	DefeasedDefeasedInd	On Behalf Of IssuerOnBehalfOfIssuerInd	Pool FinancingPoolFinancingInd
NC Capital Facs Fin Agcy
A	561592154	65818PEC9	2004-12-21	$36,605,000	See Sch K, Part VI, Ser A	false	false	false
NC Capital Facs Fin Agcy
B	561592154	65818PKVO	2016-07-22	$190,092,829	See Sch K, Part VI,Series 2016	false	false	false
NC Capital Facs Fin Agcy
C	561592154	65818PMZ9	2018-07-26	$107,737,205	See Sch K, Part VI,Series 2018	false	false	false

Tax Exempt Bonds Proceeds TaxExemptBondsProceedsGrp (3 entries)

Bond ReferenceBondReferenceCd	RetiredRetiredAmt	Total ProceedsTotalProceedsAmt	Issuance Costs From ProceedsIssuanceCostsFromProceedsAmt	Other Spent ProceedsOtherSpentProceedsAmt	Substantial CompletionSubstantialCompletionYr	Refunding Tax Exempt BondsRefundingTaxExemptBondsInd	Refunding Taxable BondsRefundingTaxableBondsInd	Final Allocation MadeFinalAllocationMadeInd	Adequate Books And Rec MaintAdequateBooksAndRecMaintInd	Capitalized InterestCapitalizedInterestAmt	Refunding EscrowRefundingEscrowAmt	Capital ExpendituresCapitalExpendituresAmt	UnspentUnspentAmt
A	$29,520,000	$36,605,000	$300,161	$36,304,839	2001	Yes (true)	false	Yes (true)	Yes (true)
B		$190,248,809	$1,214,783		2019	Yes (true)	Yes (true)	Yes (true)	Yes (true)	$2,170,879	$121,699,410	$65,163,737
C		$108,414,986	$842,865	$61,782,315		false	false	false	Yes (true)	$3,594,340		$22,452,211	$19,743,255

Tax Exempt Bonds Private Bus Use TaxExemptBondsPrivateBusUseGrp (2 entries)

Bond ReferenceBondReferenceCd	Owning Bond Financed PropertyOwningBondFinancedPropertyInd	Any Lease ArrangementsAnyLeaseArrangementsInd	Mgmt Contract Bond Fincd PropMgmtContractBondFincdPropInd	Engage Bond Counsel ContractsEngageBondCounselContractsInd	Any Research AgreementsAnyResearchAgreementsInd	Engage Bond Counsel ResearchEngageBondCounselResearchInd	Private Bus Use By OthersPrivateBusUseByOthersPct	Private Bus Concerning UBIPrivateBusConcerningUBIPct	Total Private Business UseTotalPrivateBusinessUsePct	Bond Iss Meet Prvt Sec Pymt TestBondIssMeetPrvtSecPymtTestInd	Change In Use Bond Financed PropChangeInUseBondFinancedPropInd	Procs Nonqualified Bond RemdtdProcsNonqualifiedBondRemdtdInd
B	false	Yes (true)	Yes (true)	Yes (true)	false	Yes (true)	0.00410	0.00460	0.00870	false	false	Yes (true)
C	false	false	Yes (true)	Yes (true)	false	Yes (true)				false	false	Yes (true)

Tax Exempt Bonds Arbitrage TaxExemptBondsArbitrageGrp (3 entries)

Bond ReferenceBondReferenceCd	Form8038 T FiledForm8038TFiledInd	Rebate Not Due YetRebateNotDueYetInd	Exception To RebateExceptionToRebateInd	No Rebate DueNoRebateDueInd	Hedge Identified In Bks And RecHedgeIdentifiedInBksAndRecInd	Gross Proceeds Invested In GICGrossProceedsInvestedInGICInd	Gross Proceeds InvestedGrossProceedsInvestedInd	Written Proc To Monitor ReqsWrittenProcToMonitorReqsInd
A	false	false	Yes (true)	false	false	false	false	Yes (true)
B	false	Yes (true)	false	false	false	false	false	Yes (true)
C	false	Yes (true)	false	false	false	false	false	Yes (true)

Procedures Corrective Action ProceduresCorrectiveActionGrp (3 entries)

Bond ReferenceBondReferenceCd	Procedures Corrective ActionProceduresCorrectiveActionInd
A	Yes (true)
B	Yes (true)
C	Yes (true)

Supplemental Information Detail SupplementalInformationDetail

Field	Value	IRS element (for citing)
Form And Line Reference	Part VI	FormAndLineReferenceDesc
Explanation	SCHEDULE K, PART IBond A,Col(a) Issuer's Name: North Carolina Capital Facilities Finance AgencyBond A,Col(f) The Variable Rate Educational Facilities Revenue Bonds (Wake Forest University), Series 2004A, were used to refund two previous bond issues and a line of credit. Prior Bond issues refunded were dated 12/02/2000 (Exempt bonds) and 12/17/1997 (taxable bonds). The 2004A bond also refunded the line of credit, dated 11/1/2004, which had refunded the maturing principal due on 11/1/04 of the 12/17/1997 tax exempt bond issue. Exception applied, no rebate calculation was required. Bond B,Col(a) Issuer's Name: North Carolina Capital Facilities Finance AgencyBond B,Col(f) The Educational Facilities Revenue Bonds (Wake Forest University), Series 2016 were used for New Capital Facilities and to fund the refinancing escrow for the 2009 Bond. It also refunded a line of credit used to finance the initial building processes covered by the 2016 bond. Bond C,Col(a) Issuer's Name: North Carolina Capital Facilities Finance AgencyBond C,Col(f) The Educational Facilities Revenue Bonds (Wake Forest University), Series 2018 were issued for the purpose of repaying a portion of the line of credit and financing the costs of acquisition, construction, renovation, and installation of capital assets of the Reynolda Campus. SCHEDULE K, PART IIBond B, Total proceeds of issue include interest earned of $155,980.Bond C, Total proceeds of issue include interest earned of $677,781.	ExplanationTxt

Schedule L IRS990ScheduleL

Loans Btwn Org Interested Prsn LoansBtwnOrgInterestedPrsnGrp

Field	Value	IRS element (for citing)
Person	David P Clawson	PersonNm
Relationship With Org	Coach	RelationshipWithOrgTxt
Loan Purpose	Insurance	LoanPurposeTxt
Loan From Organization	Yes (X)	LoanFromOrganizationInd
Balance Due	$930,000	BalanceDueAmt
Default	false	DefaultInd
Board Or Committee Approval	Yes (true)	BoardOrCommitteeApprovalInd
Written Agreement	Yes (true)	WrittenAgreementInd

Field	Value	IRS element (for citing)
Total Balance Due	$930,000	TotalBalanceDueAmt

Grnt Asst Bnft Interested Prsn GrntAsstBnftInterestedPrsnGrp (2 entries)

Relationship With OrgRelationshipWithOrgTxt	Cash GrantCashGrantAmt	Type Of AssistanceTypeOfAssistanceTxt	Assistance PurposeAssistancePurposeTxt
Not required
See Part V	$70,022	Tuition Waiv	Education
Not Required
See Part V	$10,850	Scholarships	Education

Bus Tr Involve Interested Prsn BusTrInvolveInterestedPrsnGrp (4 entries)

Relationship DescriptionRelationshipDescriptionTxt	TransactionTransactionAmt	TransactionTransactionDesc	Sharing Of RevenuesSharingOfRevenuesInd
Julia Hatch
See Part V	$52,531	Compensation	false
Angela J Lynde
See Part V	$30,393	Compensation	false
Addison Sutton
See Part V	$31,519	Compensation	false
Kevin Pittard
See Part V	$83,319	Compensation	false

Supplemental Information Detail SupplementalInformationDetail

Field	Value	IRS element (for citing)
Form And Line Reference	Schedule L, Part V Supplemental Information	FormAndLineReferenceDesc
Explanation	Part IIIThe University has an employee dependent tuition remission benefit plan, which is available to all employees and their eligible dependents. Various listed persons have received, or have dependents who are currently receiving tuition discounts under this plan.The filing organization awards scholarships for various purposes. As noted in Form 990, Part III, about 51% of our graduate and undergraduate students receive scholarships or other financial aid. Various listed persons have received or have dependents who have received merit scholarships, summer research scholarships and study abroad scholarships.Part IVJulia Hatch: Family member of the organization's president, Nathan O. Hatch, was paid wages for her employment with the filing organization.Angela J. Lynde: Family member of the organization's key employee, Ronald D. Wellman, was paid wages for her employment with the filing organization.Addison Sutton: Family member of the organization's trustee, Ben C. Sutton, Jr., was paid wages for her employment with the filing organization.Kevin Pittard: Family member of the organization's key employee, Michele Gillespie, was paid wages for his employment with the filing organization.	ExplanationTxt

Schedule M IRS990ScheduleM

Works Of Art WorksOfArtGrp

Field	Value	IRS element (for citing)
Non Cash Checkbox	Yes (X)	NonCashCheckboxInd
Contribution	2	ContributionCnt
Noncash Contributions Rpt F990	$2,078	NoncashContributionsRptF990Amt
Method Of Determining Revenues	Market Value	MethodOfDeterminingRevenuesTxt

Cars And Other Vehicles CarsAndOtherVehiclesGrp

Field	Value	IRS element (for citing)
Non Cash Checkbox	Yes (X)	NonCashCheckboxInd
Contribution	20	ContributionCnt
Noncash Contributions Rpt F990	$155,465	NoncashContributionsRptF990Amt
Method Of Determining Revenues	Sales Proceeds	MethodOfDeterminingRevenuesTxt

Securities Publicly Traded SecuritiesPubliclyTradedGrp

Field	Value	IRS element (for citing)
Non Cash Checkbox	Yes (X)	NonCashCheckboxInd
Contribution	437	ContributionCnt
Noncash Contributions Rpt F990	$13,314,766	NoncashContributionsRptF990Amt
Method Of Determining Revenues	Market Value	MethodOfDeterminingRevenuesTxt

Secur Prtnrshp Trust Intrsts SecurPrtnrshpTrustIntrstsGrp

Field	Value	IRS element (for citing)
Non Cash Checkbox	Yes (X)	NonCashCheckboxInd
Contribution	8	ContributionCnt
Noncash Contributions Rpt F990	$2,251,754	NoncashContributionsRptF990Amt
Method Of Determining Revenues	Annuity NPV	MethodOfDeterminingRevenuesTxt

Food Inventory FoodInventoryGrp

Field	Value	IRS element (for citing)
Non Cash Checkbox	Yes (X)	NonCashCheckboxInd
Contribution	8	ContributionCnt
Noncash Contributions Rpt F990	$1,000	NoncashContributionsRptF990Amt
Method Of Determining Revenues	Retail	MethodOfDeterminingRevenuesTxt

Other Non Cash Contri Table OtherNonCashContriTableGrp (2 entries)

Non Cash CheckboxNonCashCheckboxInd	DescDesc	ContributionContributionCnt	Noncash Contributions Rpt F990NoncashContributionsRptF990Amt	Method Of Determining RevenuesMethodOfDeterminingRevenuesTxt
Yes (X)	Equipment	1	$1,155	Market Value
Yes (X)	Board Game Set	1	$200	Retail

Field	Value	IRS element (for citing)
Form8283 Received	2	Form8283ReceivedCnt
Any Property That Must Be Held	false	AnyPropertyThatMustBeHeldInd
Review Process Unusual NC Gifts	Yes (true)	ReviewProcessUnusualNCGiftsInd
Third Parties Used	Yes (true)	ThirdPartiesUsedInd

Supplemental Information Detail SupplementalInformationDetail

Field	Value	IRS element (for citing)
Form And Line Reference	Part I, Line 32, Hire and Use of Third Parties	FormAndLineReferenceDesc
Explanation	Part I, Line 32b. The organization uses Charitable Auto Resources (CARS) to process and sell vehicle donations to its radio station, WFDD. CARS acts as an agent for the organization in this process, retaining a flat percentage fee and forwarding the net proceeds to the University. Various banks and brokers are used to sell donated securities.Local real estate agents are used to sell real property donations.	ExplanationTxt

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (10 entries)

Form And Line ReferenceFormAndLineReferenceDesc	ExplanationExplanationTxt
Client Note 1	Client Note 1 - Wake Forest University2016 year ended 6/30/2017Attachment to Form 990-TSTATEMENT 6PART V, LINE 1: INTEREST IN OR AUTHORITY OVER A FOREIGN ACCOUNTNAME OF COUNTRY: United Kingdom, France, Spain, Austria, Italy, Nicaragua, China, Chile.
Form 990, Part III, Line 4d: Other Program Services Description	OTHER PROGRAM SERVICES 4: Wake Forest University maintains a campus with academic buildings, research laboratories, space for fraternities and sororities, and recreational facilities. The grounds add to the student experience. The organization also has other auxiliary enterprises designed to enhance and improve the University and the surrounding community. The University supports, with occasional gifts, local exempt organizations, in order to enhance arts and culture in the area.
Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et	Winston-Salem is a relatively small city, and some of the officers, key employees,and trustees of the filing organization (the "specified group") have routine business dealings with each other. These include the following: some trustees are members or employees of law firms that provide legal services to some of the specified group or to businesses owned or operated by members of the specified group and to the filing organization; some members of the specified group do business with a car dealership owned by a trustee; and some members of the specified group have banking relationships with banks in which trustees are executives; members of the specified group may also have common investments. Two of the filing organizations trustees, Gerald Roach and John Vann have a business relationship as both are also directors of the same unrelated business. As noted in the response to Part VI, Question 12, however, the filing organization has a written conflict of interest policy designed to ensure that none of these transactions adversely affect the filing organization. Interested party transactions with the filing organization that meet the required thresholds, if any, are disclosed on Schedule L.
Form 990, Part VI, Line 11b: Form 990 Review Process	The organization sends a draft of the Form 990 to its governing board (Board of Trustees) prior to its filing, allowing adequate time for follow-up questions and comments. The draft form is reviewed in detail with the Audit & Compliance Committee of the organization's Board of Trustees. The organization provides a complete copy of the finalized Form 990 to the entire Board of Trustees prior to filing the Form 990 with the IRS.
Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts	The organization requires officers and key employees to annually review the conflict of interest policy and determine and report any potential conflicts of interest. Any potential conflicts noted in the disclosure are reviewed for appropriate resolution. All members of the Board of Trustees are similarly required to determine and report annually, and as they arise, any potential conflicts of interest to the Secretary or to the Chair of the Board of Trustees. Conflict of interest management plans are prepared for all those officers, trustees, and key employees who are found to have conflicts. The conflict management plans are approved by appropriate individuals in accordance with the policy. University officers are asked to certify annually that trustees have not exercised inappropriate influence concerning matters within the conflict management plan. Officers and key employees are monitored by their supervisors and, for the President, by the Chair of the Board.The resolution of potential and actual conflicts is subject to the approval of the Chair of the Board and is reported to the Chair of the Audit & Compliance Committee of the Board of Trustees.
Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management	An external compensation consultant experienced in higher education compensation presents available total compensation comparability data for the positions for which compensation is being determined. Other sources of data are used as well to supplement this process. The data is reviewed by the Compensation Committee of the organization's governing board at its meeting; none of the members of that committee are employees of the organization. The Compensation Committee of the organization's governing board has been delegated the authority to review and approve compensation. Minutes of the deliberations of the committee are contemporaneously recorded. In the event that any member of the Compensation Committee has a conflict of interest, that committee member does not participate in the deliberation or approval process and their abstention from the process is reflected in the minutes.
Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees	An external compensation consultant experienced in higher education compensation presents available total compensation comparability data for the positions for which compensation is being determined. Other sources of data are used as well to supplement this process. The data is reviewed by the Compensation Committee of the organization's governing board at its meeting; none of the members of that committee are employees of the organization. The Compensation Committee of the organization's governing board has been delegated the authority to review and approve compensation. Minutes of the deliberations of the committee are contemporaneously recorded. In the event that any member of the Compensation Committee has a conflict of interest, that committee member does not participate in the deliberation or approval process and their abstention from the process is reflected in the minutes.
Form 990, Part VI, Line 19: Other Organization Documents Publicly Available	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 on request. The organization's consolidated financial statements are made available to the public on the University's website.
Form 990 Part VII	Hours Allocated to This and Other Related and Affiliated Organizations:Nathan O. Hatch, Ph.D.Filing Organization: 29 hoursRelated Organizations: 11 hoursJ. Reid MorganFiling Organization: 19.7 hoursRelated Organizations: 20.3 hoursB. Hofler MilamFiling Organization: 37.5 hours Related Organizations: 2.5 hoursAnita ConradFiling Organization: 21 hoursRelated Organizations: 19 hours Dr. Julie A. Freischlag MDFiling Organization: 2 hoursRelated Organizations: 21.2 hoursAffiliated Organizations: 16.8 hoursDr. John D. McConnell, MDFiling Organization: 0 hoursRelated Organizations: 40.0 hours
PART V, LINE 4b: Foreign Accounts	INTEREST IN OR AUTHORITY OVER A FOREIGN ACCOUNTNAME OF COUNTRY: United Kingdom, France, Spain, Austria, Italy, Nicaragua, Chile, China.

Schedule R IRS990ScheduleR

Id Disregarded Entities IdDisregardedEntitiesGrp (6 entries)

Address Line1USAddress/AddressLine1Txt	CityUSAddress/CityNm	State AbbreviationUSAddress/StateAbbreviationCd	ZIPUSAddress/ZIPCd	EINEIN	Primary ActivitiesPrimaryActivitiesTxt	Legal Domicile StateLegalDomicileStateCd	Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt	Total IncomeTotalIncomeAmt	End Of Year AssetsEndOfYearAssetsAmt	Address Line1ForeignAddress/AddressLine1Txt	CityForeignAddress/CityNm	Province Or StateForeignAddress/ProvinceOrStateNm	CountryForeignAddress/CountryCd	Foreign PostalForeignAddress/ForeignPostalCd	Legal Domicile Foreign CountryLegalDomicileForeignCountryCd
Deacon Blvd Holdings I LLC
PO Box 7201	WinstonSalem	NC	27109	262203211	Real Estate Holding - Currently Inactive	NC	NA
Creative Cafe LLC
PO Box 7201	WinstonSalem	NC	27109	263700428	No Operations	NC	NA
Wake Forest Advantage-WF Ed Cons Nanjing
PO Box 7201	Winston Salem	NC	27109	462754916	Int'l study program holding China WFOE	NC	NA	$33,573	$3,779
Verger Fund I LLC
751 W Fourth Street Suite 410	Winston Salem	NC	27101	560532138	Holding Verger Capital Fund	DE	NA	$390,997	$1,030,361,191
Wake Forest University Spain SL
				560532138	study abroad educ. activities		NA	$869,559	$1,583,154	C/Toro 84-90 Oficina Izquierda	Salamanca	Salamanca	SP	37120	SP
Wake Forest University Chile SpA
				560532138	Study Abroad		NA	$300,438	-$15,263	Santa Lucia 280 Oficina 12	Santiago	Santiago	CI		CI

Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp (13 entries)

Address Line1USAddress/AddressLine1Txt	CityUSAddress/CityNm	State AbbreviationUSAddress/StateAbbreviationCd	ZIPUSAddress/ZIPCd	EINEIN	Primary ActivitiesPrimaryActivitiesTxt	Legal Domicile StateLegalDomicileStateCd	Exempt Code SectionExemptCodeSectionTxt	Public Charity StatusPublicCharityStatusTxt	Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt	Controlled OrganizationControlledOrganizationInd
Wake Forest University Foundation
PO Box 7201	WinstonSalem	NC	27109	562038193	Real Estate Holding and Management	NC	501(c)(3)	Line 12a, I	Wake Forest University	Yes (true)
Wake Forest University Health Sciences
Medical Center Blvd	WinstonSalem	NC	27157	223849199	Medical Education, research and patient care	NC	501(c)(3)	Line 2	Wake Forest University	Yes (true)
Wake Forest University Development Fndn
PO Box 7201	WinstonSalem	NC	27109	562038194	Management/Sale of charitable real property donations	NC	501(c)(3)	Line 12a, I	Wake Forest University	Yes (true)
Reynolda House Inc
PO Box 7287	WinstonSalem	NC	27109	560810676	Museum of American Art	NC	501(c)(3)	Line 7	Wake Forest University	Yes (true)
Wake Forest Univ Baptist Med Center
Medical Center Blvd	WinstonSalem	NC	27157	510190238	Supports WFU, WFU Health Sciences, NC Baptist Hospital	NC	501(c)(3)	Line 12a, I	WFU 50 & NC Baptist Hospital 50	false
Wake Forest Univ Health Sciences Group
Medical Center Blvd	WinstonSalem	NC	27157	900222618	Kidney dialysis treatment centers	NC	501(c)(3)	Line 12a, I	WFU Health Sciences	false
Wake Forest Innovation Quarter Devel Co
Medical Center Blvd	WinstonSalem	NC	27157	562094067	Research Park development	NC	501(c)(6)		WFU Health Sciences	false
Wake Forest Innovation Quarter Mgmt Co
Medical Center Blvd	WinstonSalem	NC	27157	061818498	Research park development	NC	501(c)(3)	Line 12a, I	WFU Health Sciences	false
RegenMed Development Organization
Medical Center Blvd	WinstonSalem	NC	27157	202710571	Education supporting Regenerative Med.	NC	501(c)(3)	Line 7	WFU Health Sciences	false
Wake Forest Innovation Quarter CDC
Medical Center Blvd	WinstonSalem	NC	27157	200177581	Research development	NC	501(c)(3)	Line 12a, I	WFU Health Sciences	false
Childress Inst for Pediatric Trauma
575 N Patterson Ave Ste 140	WinstonSalem	NC	27101	463674691	Medical Research	NC	501(c)(3)	Line 3	WFU Health Sciences	false
Wake Forest Emergency Providers
Medical Center Blvd	WinstonSalem	NC	27157	561903275	Operates Primary Care Clinics	NC	501(c)(3)	Line 3	WFU Health Sciences	false
The James W Denmark Loan Fund Inc
PO Box 7354	WinstonSalem	NC	27109	560774769	Student Loan Provider	NC	501(c)(3)	Line 12a, I	NA	false

Id Related Org Txbl Partnership IdRelatedOrgTxblPartnershipGrp (5 entries)

Address Line1USAddress/AddressLine1Txt	CityUSAddress/CityNm	State AbbreviationUSAddress/StateAbbreviationCd	ZIPUSAddress/ZIPCd	EINEIN	Primary ActivitiesPrimaryActivitiesTxt	Legal Domicile StateLegalDomicileStateCd	Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt	Share Of Total IncomeShareOfTotalIncomeAmt	Share Of EOY AssetsShareOfEOYAssetsAmt	Disproportionate AllocationsDisproportionateAllocationsInd	General Or Managing PartnerGeneralOrManagingPartnerInd	OwnershipOwnershipPct	UBI Code VUBICodeVAmt
Verger Capital Management LLC
751 W Fourth Street Suite 410	Winston Salem	NC	27101	464037343	Asset Management	DE	Wake Forest Univ	$42,480	$5,135,868	false	false	1.00000
Verger Capital Fund LLC
751 W Fourth Street Suite 410	Winston Salem	NC	27101	464027021	Endowment investing	DE	Verger Fund I	$390,997	$1,030,361,191	false	false	0.56820	-$1,809,420
Wake Forest Technology Development Prog
2520 Meridian Pkwy 400	Durham	NC	27713	475437596	Tech Devel.	NC	WFU Health Sciences			false	false
Verger Fund II LLC
751 W Fourth Street Suite 410	WinstonSalem	NC	27101	352514227	Endowment investing	DE	WFU Health Sciences			false	false
Wake Forest Ambulatory VTR LLC
Medical Center Blvd	WinstonSalem	NC	27157	820777206	Healthcare	NC	WFU Health Sciences			false	false

Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp (2 entries)

Address Line1USAddress/AddressLine1Txt	CityUSAddress/CityNm	State AbbreviationUSAddress/StateAbbreviationCd	ZIPUSAddress/ZIPCd	Primary ActivitiesPrimaryActivitiesTxt	Legal Domicile StateLegalDomicileStateCd	Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt	Entity TypeEntityTypeTxt	Controlled OrganizationControlledOrganizationInd
Charitable Remain Trusts 37
1834 Wake Forest RoadBox 7201	WinstonSalem	NC	27109	Investment	NC	WFU	T	false
Charitable Remain Trusts 3
Medical Center Boulevard	Winston Salem	NC	27157	Investment	NC	WFU Health Sciences	T	false

Field	Value	IRS element (for citing)
Receipt Of Int Annts Rnts Rylts	Yes (true)	ReceiptOfIntAnntsRntsRyltsInd
Gift Grnt Or Cap Contri To Oth Org	Yes (true)	GiftGrntOrCapContriToOthOrgInd
Gift Grnt Cap Contri From Oth Org	Yes (true)	GiftGrntCapContriFromOthOrgInd
Loans Or Guarantees To Other Org	Yes (true)	LoansOrGuaranteesToOtherOrgInd
Loans Or Guarantees From Oth Org	false	LoansOrGuaranteesFromOthOrgInd
Div Related Organization	false	DivRelatedOrganizationInd
Asset Sale To Other Org	false	AssetSaleToOtherOrgInd
Asset Purchase From Other Org	Yes (true)	AssetPurchaseFromOtherOrgInd
Asset Exchange	false	AssetExchangeInd
Rental Of Facilities To Oth Org	Yes (true)	RentalOfFacilitiesToOthOrgInd
Rental Of Fclts From Oth Org	false	RentalOfFcltsFromOthOrgInd
Perform Of Services For Oth Org	Yes (true)	PerformOfServicesForOthOrgInd
Perform Of Services By Other Org	Yes (true)	PerformOfServicesByOtherOrgInd
Sharing Of Facilities	Yes (true)	SharingOfFacilitiesInd
Paid Employees Sharing	Yes (true)	PaidEmployeesSharingInd
Reimbursement Paid To Other Org	Yes (true)	ReimbursementPaidToOtherOrgInd
Reimbursement Paid By Other Org	Yes (true)	ReimbursementPaidByOtherOrgInd
Transfer To Other Org	Yes (true)	TransferToOtherOrgInd
Transfer From Other Org	Yes (true)	TransferFromOtherOrgInd

Transactions Related Org TransactionsRelatedOrgGrp (17 entries)

Transaction TypeTransactionTypeTxt	InvolvedInvolvedAmt	Method Of Amount DeterminationMethodOfAmountDeterminationTxt
Wake Forest University Foundation
o	$75,514	Cash Transfer
Wake Forest University Health Sciences
c	$2,000,000	Cash Transfer
Wake Forest University Health Sciences
p	$3,914,940	Cash Transfer
Wake Forest University Health Sciences
q	$8,402,392	Cash Transfer
Wake Forest University Development Fndn
c	$353,533	Cash Transfer
Wake Forest University Development Fndn
o	$51,578	Cash Transfer
Reynolda House Inc
b	$405,000	Cash Support
Reynolda House Inc
h	$500,000	Cash Transfer
Reynolda House Inc
q	$270,133	Cash Transfer
The James W Denmark Loan Fund Inc
s	$163,960	Cash Transfer
Verger Capital Management LLC
a	$130,764	Interest Pmt
Verger Capital Management LLC
d	$509,195	Loan Repayment
Verger Capital Management LLC
j	$165,905	Cash Rent
Verger Capital Management LLC
m	$2,519,391	Inv Mgmt Fees
Verger Capital Management LLC
q	$2,826,428	Cash Reimb
Verger Capital Fund LLC
r	$38,438,254	Cash Transfer
Verger Capital Fund LLC
s	$42,718,613	Cash Transfer

Supplemental Information Detail SupplementalInformationDetail (4 entries)

Form And Line ReferenceFormAndLineReferenceDesc	ExplanationExplanationTxt
Related Party Disclosures	Verger Capital Management, LLC is a controlled entity that is taxable as a Partnership. It was formed to manage the investment activities for the endowment assets of the University and the Wake Forest controlled group.
Verger Capital Fund LLC	Verger Capital Fund (VCF) was created in order to hold the filing organization's Endowment Assets for investment. VCF accepted endowment assets of other members of the controlled group in FY15. During this fiscal year VCF received assets from other, unrelated, entities for investment and plans to continue this avenue of growth.
Verger Fund I LLC	Verger Fund I is a disregarded entity that holds the University's partnership interest in Verger Capital Fund, the entity holding the Endowment assets.
Verger Fund II LLC	Verger Fund II is the partnership which holds the interest in VCF (endowment assets) for the other members of the WFU controlled group. These subsidiary entities have a combined controlling interest in the partnership, thus the common parent, Wake Forest University has an indirect controlling interest.Wake Forest Techonology Development Program, LP and Wake Forest Ambulatory VTR, LLC are partnerships controlled by Wake Forest University Health Sciences. Since Wake Forest University is deemed to control Wake Forest University Health Sciences, it has an indirect controlling interest in these partnerships.