2020-07-14T17:47:01-07:00 2019-06-30 990 2018-07-01 560532138 WAKE FOREST UNIVERSITY WAKE 3367585233 1834 WAKE FOREST RD BOX 7201 WINSTONSALEM NC 27109 B Hofler Milam EVP/CFO/Treasurer 2020-07-14 2018 2021-01-29 14:40:06Z Nathan O Hatch PhD 1834 WAKE FOREST RD BOX 7201 WINSTONSALEM NC 27109 935603190 false false X www.wfu.edu X 1834 NC 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. 47 43 5944 2150 4497359 85906758 112274063 427874039 450831571 55270818 50702988 14309917 22645642 583361532 636454264 112387153 120086159 0 250705705 263363813 201880 0 23628294 151157056 170260432 514451794 553710404 68909738 82743860 1919040249 2089648634 556705829 651432125 1362334420 1438216509 X 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. false false 247976509 102850303 352884002 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. 104059201 13726466 88996883 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. 68431328 5784334 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. 50088999 3651465 3166352 470556037 true true false true false false false true true true true true false false true true false true true true true true true false true false false true true true true false false false false false true true false true false true true false false true true true true false false true X 10934 0 true 5944 true true true true OC false false false true true false 0 false false false true false false false false false false true false X 47 43 true false false false false false false true true false false true true true true true true true true true true X Marnie S Matthews 3367585233 PO Box 7201 WinstonSalem NC 27109 X Gerald F Roach Board Chair 15.00 2.00 X 0 0 0 David W Dupree Board ViceChair 6.00 5.00 X 0 0 0 Mit B Shah Board ViceChair 6.00 0.60 X 0 0 0 John I Bitove Jr Committee Chair 4.00 0.00 X 0 0 0 Shelmer D Blackburn Jr Comm Vice Chair 5.00 0.00 X 0 0 0 Jeanne Whitman Bobbitt Committee Chair 4.00 0.00 X 0 0 0 Morgan Briggs Trustee 3.00 0.00 X 0 0 0 Peter C Brockway Committee Chair 4.00 0.00 X 0 0 0 Thomas W Bunn Trustee 3.00 0.00 X 0 0 0 Jocelyn Burton Trustee 3.00 0.00 X 0 0 0 Lindsay Nicole Chambers Trustee 3.00 0.00 X 0 0 0 Matthew S Crawford Trustee 3.00 0.00 X 0 0 0 H Lawrence Culp Jr Trustee 3.00 0.60 X 0 0 0 Jermyn M Davis Trustee 5.00 0.00 X 0 0 0 Thomas A Dingledine Committee Chair 4.00 0.00 X 0 0 0 James E Dixon Trustee 3.00 0.00 X 0 0 0 Donna F Edwards Comm Vice Chair 4.00 2.00 X 0 0 0 Eric W Eubank II Comm Vice Chair 4.00 0.00 X 0 0 0 Herman E Eure Comm Vice Chair 5.00 0.00 X 0 0 0 Lisbeth Clark Evans Trustee 6.00 0.60 X 0 0 0 Curtis C Farmer Comm Vice Chair 5.00 2.60 X 0 0 0 Mary R Farrell Trustee 5.00 0.00 X 0 0 0 Helen Hough Feinberg Trustee 3.00 0.00 X 0 0 0 Donald E Flow Committee Chair 5.00 19.00 X 0 0 0 Richard Alan Fox Comm Vice Chair 3.00 0.00 X 0 0 0 Frank B Holding Jr Committee Chair 5.00 1.00 X 0 0 0 Lawrence D Hopkins MD Trustee 3.00 37.00 X 0 328615 43010 Alice Kirby Horton Trustee 4.00 0.00 X 0 0 0 John R Lowden Trustee 3.00 0.60 X 0 0 0 Michael Frank Mahoney Trustee 3.00 2.60 X 0 0 0 James J Marino Committee Chair 5.00 7.00 X 0 0 0 John MMcAvoy Committee Chair 5.00 0.00 X 0 0 0 Jane McGraw Trustee 3.00 0.00 X 0 0 0 Ogden Phipps II Trustee 3.00 0.60 X 0 0 0 Steven S Reinemund Trustee 3.00 0.00 X 0 0 0 Prince Raney Rivers Trustee 3.00 0.00 X 0 0 0 Jorge Rodriguez Trustee 3.00 0.60 X 0 0 0 Harold O Rosser Comm Vice Chair 4.00 0.70 X 0 0 0 Janice K Story Trustee 3.00 2.00 X 0 0 0 Ben C Sutton Jr Committee Chair 6.00 1.00 X 0 0 0 Lloyd P Tate Jr Trustee 5.00 0.00 X 0 0 0 Cathy Wall Thomas MD Committee Chair 5.00 2.00 X 0 0 0 Shannan Spence Townsend Comm Vice Chair 5.00 0.60 X 0 0 0 John M Vann Comm Vice Chair 5.00 6.60 X 0 0 0 David I Wahrhaftig Committee Chair 6.00 0.00 X 0 0 0 Eric C Wiseman Trustee 5.00 0.00 X 0 0 0 Nathan O Hatch PhD Pres. & Trustee 29.00 11.00 X X 1987864 0 387831 Julie A Freischlag MD EVP Health Aff. 2.00 21.70 X 0 1742589 353250 J Reid Morgan S.VP, Sec, G.C. 19.70 20.30 X 560012 0 187816 Anita M Conrad Asst Secretary 21.00 19.00 X 194592 0 39096 Rogan Kersh PhD Provost 40.00 0.00 X 591565 0 159282 B Hofler Milam EVP, CFO, Treas 37.50 2.50 X 684156 0 266731 Charles L Iacovou PhD Dean, School of Business 40.00 0.00 X 471033 0 48891 Ronald D Wellman Director of Athletics 40.00 0.00 X 3025278 0 48733 Mark A Petersen VP - Advancement 40.00 0.00 X 542361 0 136603 Michele Gillespie PhD Dean, Wake Forest College 40.00 0.00 X 307959 0 63371 David P Clawson Football Coach 40.00 0.00 X 2250573 0 52496 Daniel R Manning Basketball Coach 40.00 0.00 X 2125702 0 44898 Jay A Sawvel Asst F'ball Coach 40.00 0.00 X 618711 0 36937 Ajay Patel PhD Prof, Sch of Busns 40.00 0.00 X 477702 0 63264 Andrew R Chan VP Career Devel 40.00 0.00 X 468500 0 177455 James J Dunn Former Chief Invest Officr 0.00 40.00 X 0 624415 26500 John D McConnell MD Former EVP Health Affairs 0.00 40.00 X 0 5552781 44771 14306008 8248400 2180935 491 true true false Frank L Blum Construction Company 830 25th St NE WinstonSalem NC 27105 Construction 36830717 Aramark Campus Services 1101 Market St 12th Fl Philadelphia PA 19107 Food Service 24902393 IL Long Construction Co Inc 4117 Indiana Avenue Winston Salem NC 27105 Construction 22055916 The Christman Co 408 South Elm Street Greensboro NC 27041 Construction 14465023 NCS Pearson 13036 Collection Center Drive Chicago IL 60693 Testing/Counseling 5306214 5 11919 2353533 8659319 101249292 16082610 112274063 Athletic Programs 711210 38103645 38103645 Organized Activities 515100 5784334 5784334 Student Health Services 621400 3629129 3629129 Student Housing & Dining 721310 42605254 42605254 Tuition and Fees 611310 352884002 352884002 7825207 7347349 477858 450831571 7171835 -2112988 9284823 0 3003442 3003442 12384682 6295624 6089058 6089058 1677046 4412012 334258189 959147 290495811 1190372 43762378 -231225 43531153 43531153 42797 11919 24918 17879 17879 0 10091580 1142201 8949379 4233759 4715620 Contract Revenue 900099 697674 697674 Executive Education Instr 611430 1958418 1958418 Sponsorship Payments 811000 1323769 1323769 606023 221684 384339 4585884 636454264 452312131 4497359 67370711 3091916 3091916 116434694 116434694 559549 559549 0 7594586 3037834 3797293 759459 0 204000889 172328399 20410274 11262216 16100797 12112321 2728923 1259553 22283781 15014049 3676157 3593575 13383760 10305494 2141403 936863 0 1330954 214474 1116480 260068 9204 250864 0 0 6849777 4452355 2397422 25590252 20864782 3222215 1503255 3616001 2601785 6408 1007808 10708956 8107854 1221248 1379854 2271565 1997092 198365 76108 0 9097230 4251220 4722140 123870 10769358 8938530 942257 888571 0 3309224 3070925 152037 86262 14642683 13693506 949177 0 45970833 40297852 5672981 1700942 689130 1009824 1988 Repairs and Maintenance 13279018 9479813 3365919 433286 Library, Books & Publications 7147754 6888322 182990 76442 Non Capital Equip & Furnishing 4827730 3878909 838174 110647 Dues. Licenses, Subscriptions 2655627 2015372 515026 125229 6232460 6220656 8496 3308 553710404 470556037 59526073 23628294 0 62930337 39566992 110301402 115618939 5957906 6763441 735000 930000 0 25024135 21952981 716805 675595 4918957 6157016 1183685455 487986315 633571094 695699140 225669950 290962334 846552573 888897850 0 0 2662090 22424346 1919040249 2089648634 38226931 40257740 8221936 8137885 33913058 33221603 171516292 261706572 1311664 1222017 97106486 73544558 125000000 125000000 81409462 108341750 556705829 651432125 X 609068783 651759614 347994414 342594904 405271223 443861991 1362334420 1438216509 1919040249 2089648634 82743860 -6861771 X false true X true true true X 87133767 72144441 157306803 85906758 112285982 514777751 0 0 87133767 72144441 157306803 85906758 112285982 514777751 57472974 457304777 25521576 19388703 62678782 18740986 22559959 148890006 1618183 1974386 2189568 5782137 37437 736179 773616 670223510 1620942006 0.68230 0.67120 X 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 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false false false false true 37125 false false 37125 false false Part II-B, Line 1i - Other Activities Description 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. X X X false true 3588431 532629 3055802 true X 792516828 38438253 48975003 19930228 17214089 5574296 837211471 689116543 98721815 42556841 16890539 15874132 5113700 792516828 656509662 19439767 52606427 16960403 17199348 5279562 689116543 681921800 13348075 1264626 17115679 17696558 5212602 656509662 682432627 17630121 14391190 16708857 10462540 5360741 681921800 0.25190 0.48900 0.25910 false true true 555162 17637036 18192198 55766737 509840843 214185480 351422100 305662251 147132145 158530106 191390864 121316574 70074290 102832562 5352116 97480446 695699140 888897850 Annuities Payable 17980728 Bond Premium 26940026 Other Liabilities and Deferrals 48123442 Postretirement Benefits 15297554 108341750 X 515008459 -6861771 -115197000 -122058771 637067230 -612966 -612966 636454264 439126370 612966 612966 438513404 115197000 115197000 553710404 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 true true true true true true true false false false false false false false false true false true 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. true Ctr America & Caribbean 0 0 Program Service Study Abroad 56222 Europe & North Atlantic 0 0 Program Service Services 24493 Europe & North Atlantic 0 0 Program Service Research 175210 East Asia & Pacific 0 0 Program Service Research 54317 East Asia & Pacific 1 2 Program Service Study Abroad 217617 Europe & North Atlantic 6 52 Program Service Study Abroad 4397622 Europe & North Atlantic 0 0 Program Service Conferences 287172 Ctr America & Caribbean 0 0 Program Service Research 15737 South America 0 0 Fundraising 1430 Middle East & North Africa 0 0 Program Service Research 6607 Sub-Saharan Africa 1 4 Program Service Research 177213 North America 0 0 Program Service Conferences 60611 North America 0 0 Program Service Research 11302 South America 1 5 Program Service Study Abroad 320278 Europe & North Atlantic 0 0 Program Service Depr'n on foreign assets 315536 South America 2 58 Program Service Research 991002 South America 0 0 Program Service Conferences 21056 Sub-Saharan Africa 0 0 Program Service Serv/Educ Trips 255 Europe & North Atlantic 0 0 Prog-Related Assets Book Value 3015472 South Asia 0 0 Program Services Study Abroad 161098 Sub-Saharan Africa 0 0 Prog-Related Assets Book Value 51722 South America 0 0 Program Services Depr'n on foreign assets 13723 Europe & North Atlantic 0 0 Program Services Recruiting 63163 South Asia 0 0 Fundraising 41767 Ctr America & Caribbean 0 0 Program Services Serv/Educ Trips 10895 Europe & North Atlantic 0 0 Fundraising 144657 Europe & North Atlantic 0 0 Program Services Serv/Educ Trips 154642 East Asia & Pacific 0 0 Program Service Conference 55204 East Asia & Pacific 0 0 Program Service Recruiting 12311 East Asia & Pacific 0 0 Fundraising 17289 Middle East & North Africa 0 0 Program Service Conferences 12192 Ctr America & Caribbean 0 0 Program Service Conferences 29833 North America 0 0 Program Services Services 2700 North America 0 0 Program Services Recruiting 12755 South America 0 0 Program Services Recruiting 11518 South Asia 0 0 Program Services Conferences 16089 South Asia 0 0 Program Services Recruiting 30127 South Asia 0 0 Program Services Research 12200 Sub-Saharan Africa 0 0 Program Services Conferences 8611 Russia & the Ind States 0 0 Program Services Conferences 7976 Europe & North Atlantic 0 0 Investments Book Value 767 Sub-Saharan Africa 0 0 Program Service Depr'n on foreign assets 8940 Sub-Saharan Africa 0 0 Program Service Study Abroad 61760 South America 0 0 Prog-Related Assets Book Value 18544 North America 0 0 Program Services Study Abroad 871 Ctr America & Caribbean 0 0 Program Services Recruiting 1702 East Asia & Pacific 0 0 Program Services Serv/Educ Trips 38850 Russia & The Ind States 0 0 Program Services Research 6683 Sub-Saharan Africa 0 0 Fundraising Services 5512 Middle East & North Africa 0 0 Program Services Recruiting 3591 Sub-Saharan Africa 0 0 Program Services Recruiting 373 Middle East & North Africa 0 0 Program Services Study Abroad 72719 Russia & The Ind States 0 0 Program Services Study Abroad 5743 North America 0 0 Program Services Serv/Educ Trips 321 Middle East & North Africa 0 0 Program Services Serv/Educ Trips 3000 11 121 11 121 7133425 4115575 11249000 East Asia & Pac Research Subcon 8869 Check/wire Europe & N Atl Research Subcon 12201 Check/wire South America Research Subcon 766084 Check/wire 3 Student scholarships Europe & N Atlantic 9 18358 Check/wire Student scholarships South America 1 2000 Check/wire true false true true true true 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. false Law Events 27994 5673 22321 82 126 5018 SGA 5K 9500 3604 5896 1072 126 5177 2 17222 2642 14580 2486 9220 695 916 54716 11919 42797 3640 9472 695 11111 24918 17879 true American Heart Association 7272 Greenville Avenue Dallas TX 75231 135613797 501(c)(3) 7500 0 Charitable Contribution Bookmarks Inc PO Box 11867 WinstonSalem NC 27116 542152610 501(c)(3) 10000 0 Sponsor Book Event Brigham & Womens Hospital 399 Revolution Drive No 645 Somerville MA 02145 042312909 501(c)(3) 35769 0 Research Subcontract Carnegie Mellon University 5000 Forbes Avenue Pittsburgh PA 25213 250969449 501(c)(3) 5175 0 Research Subcontract Catholic University of Amer 620 Michigan Ave NE Washington DC 20064 530196583 501(c)(3) 17811 0 Research Subcontract Chris Paul Family Foundation 6524 Shallowford Road Unit 4 Lewsiville NC NC 27023 472373649 501(c)(3) 10000 0 Charitable Contribution Duke University 324 Blackwell Street Durham NC 27701 560532129 501(c)(3) 7799 0 Research subcontract East Carolina University 1001 East 5th Street Greenville NC 27858 566000403 501(c)(3) 18319 0 Research subcontract Habitat For Humanity 339 Witt Street WinstonSalem NC 27103 561448955 501(c)(3) 32500 0 Habitat House Sponsor Hispanic Summer Program Inc 3041 Broadway New York NY 10027 383708943 501(c)(3) 5500 0 Charitable Contribution Junior Achiev of the Triad 3220 Northline Avenue Greensboro NC 27408 560844838 501(c)(3) 8000 0 Charitable Contribution Lawrence Berkeley Natl Lab 1 Cyclotron Road Berkeley CA 94720 942951741 501(c)(3) 45882 0 Research subcontract Leadership Winston-Salem 624 W Sixth St Ste 110 WinstonSalem NC 27101 581574887 501(c)(3) 10000 0 Sponsorship General Support Neighbors For Better Neighbor 502 N Broad St WinstonSalem NC 27101 311598244 501(c)(3) 10000 0 Charitable Contribution North Carolina State University Office-Grants Contracts Box 7214 Raleigh NC 27695 566000756 501(c)(3) 43569 0 Research Subcontract Old Hickory Council BSA 6600 Silas Creek Parkway WinstonSalem NC 27106 560529985 501(c)(3) 42000 0 Charitable Contribution Piedmont Triad Partnership PO Box 2672 High Point NC 27261 561750279 501(c)(3) 10000 0 Charitable Contribution Reynolda House Inc PO Box 7287 WinstonSalem NC 27109 560810676 501(c)(3) 405000 0 Operations Support RiverRun International Film 305 W Fourth Street WinstonSalem NC 27101 200254183 501(c)(3) 25000 0 Sponsorship - General Support Salvation Army 2290 Premier Park Lane WinstonSalem NC 27105 580660607 501(c)(3) 10000 0 Charitable Contribution Senior Services Inc 2895 Shorefair Drive WinstonSalem NC 27105 561085968 501(c)(3) 10000 0 Charitable Contribution UNC Chapel Hill 104 Airport Drive CB 1270 Chapel Hill NC 27514 566001393 501(c)(3) 520290 0 Research subcontract Univ of GA Research Fdn 456 East Broad Street Athens GA 30602 581353149 501(c)(3) 13450 0 Research subcontract University of Tennessee 1331 Circle Park Drive Knoxville TN 37916 626001636 501(c)(3) 36894 0 Research Subcontract Virginia Polytechnic Inst 300 Turner St NW Ste 4200 Blacksburg VA 24061 546001758 501(c)(3) 45106 0 Research Subcontract Wake Forest College Birthplace Society PO Box 494 Wake Forest NC 27588 566072013 501(c)(3) 88964 0 Operations Support Wake Forest Univ Health Scien Medical Center Blvd WinstonSalem NC 27157 223849199 501(c)(3) 235159 0 Research Subcontract Winston Salem Business Inc 1080 W Fourth Street WinstonSalem NC 27101 510436665 501(c)(3) 10000 0 Support Local Econ Dev'mt Winston-Salem Alliance 100 North Main Street Suite WinstonSalem NC 27101 311726654 501(c)(6) 10150 0 Charitable Contribution Winston-Salem Foundation 751 W Fourth Streetq WinstonSalem NC 27101 566037615 501(c)(3) 100000 0 Local Econ/Edu Dev'mt Woods Hole Research Center 149 Woods Hole Road Falmouth MA 02540 043005094 501(c)(3) 20563 0 Research Subcontract W-S Chamber of Commerce 411 W Fourth St Ste 211 WinstonSalem NC 27101 560459820 501(c)(6) 10000 0 General Support & Membership Yale University PO Box 208239 New Haven CT 06520 060646973 501(c)(3) 146483 0 Research subcontract 31 2 Departmental Scholarships 826 951918 Grants for Student Travel 407 General Tuition Scholarships 3269 92904063 Univ. charges Tuition discounts Tuition Concessions 112 4501050 Univ. charges Direct tuition payments Athletic Tuition Awards 321 13726466 Univ. charges Tuition discounts ROTC Scholarships 29 144486 Athletic Room & Board 246 2992742 Study Abroad Scholarships 237 1012963 2061671 Univ. charges WFU Program payments Third Party Scholarships 635 46177 3587052 Univ. charges Direct tuition payments Grantmaker's Description of How Grants are Used 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. X X X X X X X true true X X X X X X true true false false false false false true false false Ajay Patel PhD Prof, Sch of Busns 477306 396 27500 35764 540966 Andrew R Chan VP Career Devel 407786 40000 20714 140998 36457 645955 Anita M Conrad Asst Secretary 184196 10000 396 19200 19896 233688 B Hofler Milam EVP, CFO, Treas 623555 40000 20601 240480 26251 950887 Charles L Iacovou PhD Dean, School of Business 423863 30000 17170 27500 21391 519924 Daniel R Manning Basketball Coach 1587070 2500 536132 20625 24273 2170600 David P Clawson Football Coach 2124611 90000 35962 20625 31871 2303069 J Reid Morgan S.VP, Sec, G.C. 499312 40000 20700 107368 80448 747828 James J Dunn Former Chief Invest Officr 559017 65398 11000 15500 650915 Jay A Sawvel Asst F'ball Coach 428736 21000 168975 13750 23187 655648 John D McConnell MD Former EVP Health Affairs 1038530 4514251 23648 21123 5597552 3858352 Julie A Freischlag MD EVP Health Aff. 1198946 533149 10494 330402 22848 2095839 Lawrence D Hopkins MD Trustee 310329 10000 8286 23404 19606 371625 Mark A Petersen VP - Advancement 476301 40000 26060 112500 24103 678964 Michele Gillespie PhD Dean, Wake Forest College 278532 20000 9427 27500 35871 371330 Nathan O Hatch PhD Pres. & Trustee 908781 230015 849068 313191 74640 2375695 775125 Rogan Kersh PhD Provost 533328 46243 11994 134123 25159 750847 Ronald D Wellman Director of Athletics 919730 2105548 27500 21233 3074011 2076234 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. A NC Capital Facs Fin Agcy 561592154 65818PEC9 2004-12-21 36605000 See Sch K, Part VI, Ser A false false false B NC Capital Facs Fin Agcy 561592154 65818PKVO 2016-07-22 190092829 See Sch K, Part VI,Series 2016 false false false C NC Capital Facs Fin Agcy 561592154 65818PMZ9 2018-07-26 107737205 See Sch K, Part VI,Series 2018 false false false A 29520000 36605000 300161 36304839 2001 true false true true B 190248809 2170879 121699410 1214783 65163737 2019 true true true true C 108414986 3594340 842865 22452211 61782315 19743255 false false false true B false true true true false true 0.00410 0.00460 0.00870 false false true C false false true true false true false false true A false false true false false false false true B false true false false false false false true C false true false false false false false true A true B true C true Part VI 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. David P Clawson Coach Insurance X 930000 false true true 930000 Not required See Part V 70022 Tuition Waiv Education Not Required See Part V 10850 Scholarships Education Julia Hatch See Part V 52531 Compensation false Angela J Lynde See Part V 30393 Compensation false Addison Sutton See Part V 31519 Compensation false Kevin Pittard See Part V 83319 Compensation false Schedule L, Part V Supplemental Information 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. X 2 2078 Market Value X 20 155465 Sales Proceeds X 437 13314766 Market Value X 8 2251754 Annuity NPV X 8 1000 Retail X Equipment 1 1155 Market Value X Board Game Set 1 200 Retail 2 false true true Part I, Line 32, Hire and Use of Third Parties 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. 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. 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 33573 3779 NA Verger Fund I LLC 751 W Fourth Street Suite 410 Winston Salem NC 27101 560532138 Holding Verger Capital Fund DE 390997 1030361191 NA Wake Forest University Spain SL C/Toro 84-90 Oficina Izquierda Salamanca Salamanca SP 37120 560532138 study abroad educ. activities SP 869559 1583154 NA Wake Forest University Chile SpA Santa Lucia 280 Oficina 12 Santiago Santiago CI 560532138 Study Abroad CI 300438 -15263 NA 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 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 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 true Reynolda House Inc PO Box 7287 WinstonSalem NC 27109 560810676 Museum of American Art NC 501(c)(3) Line 7 Wake Forest University 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 Verger Capital Management LLC 751 W Fourth Street Suite 410 Winston Salem NC 27101 464037343 Asset Management DE Wake Forest Univ 42480 5135868 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 390997 1030361191 false -1809420 false 0.56820 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 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 true true true true false false false true false true false true true true true true true true true Wake Forest University Foundation o 75514 Cash Transfer Wake Forest University Health Sciences c 2000000 Cash Transfer Wake Forest University Health Sciences p 3914940 Cash Transfer Wake Forest University Health Sciences q 8402392 Cash Transfer Wake Forest University Development Fndn c 353533 Cash Transfer Wake Forest University Development Fndn o 51578 Cash Transfer Reynolda House Inc b 405000 Cash Support Reynolda House Inc h 500000 Cash Transfer Reynolda House Inc q 270133 Cash Transfer The James W Denmark Loan Fund Inc s 163960 Cash Transfer Verger Capital Management LLC a 130764 Interest Pmt Verger Capital Management LLC d 509195 Loan Repayment Verger Capital Management LLC j 165905 Cash Rent Verger Capital Management LLC m 2519391 Inv Mgmt Fees Verger Capital Management LLC q 2826428 Cash Reimb Verger Capital Fund LLC r 38438254 Cash Transfer Verger Capital Fund LLC s 42718613 Cash Transfer 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.