WAKE FOREST UNIVERSITY: Form 990, tax year 2013

View the entire original 990 at ProPublica ↗

Organization: WAKE FOREST UNIVERSITY (EIN 56-0532138)
Tax period: 2013-07-01 to 2014-06-30
Filed: 2015-05-13
IRS object ID: 201541339349301924
Schema version: 2013v4.0
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	2015-05-13T08:32:09-07:00	ReturnTs
Tax Period End	2014-06-30	TaxPeriodEndDt
Return Type	990	ReturnTypeCd
Tax Period Begin	2013-07-01	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	BusinessNameLine1

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	PO BOX 7201	AddressLine1
City	WINSTONSALEM	City
State	NC	State
ZIP Code	27109	ZIPCode

Business Officer BusinessOfficerGrp

Field	Value	IRS element (for citing)
Person	B Hofler Milam	PersonNm
Person Title	Exec Vice Pres	PersonTitleTxt
Signature	2015-05-13	SignatureDt

Field	Value	IRS element (for citing)
Tax	2013	TaxYr
Build TS	2016-04-25 22:37:26Z	BuildTS

Form 990 IRS990

Field	Value	IRS element (for citing)
Principal Officer	B Hofler Milam	PrincipalOfficerNm

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	P O Box 7226	AddressLine1
City	WinstonSalem	City
State	NC	State
ZIP Code	27109	ZIPCode

Field	Value	IRS element (for citing)
Gross Receipts	$946,700,829	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	38	VotingMembersIndependentCnt
Total Employee	5774	TotalEmployeeCnt
Total Volunteers	2150	TotalVolunteersCnt
Total Gross UBI	$1,950,930	TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm	-$1,567,949	NetUnrelatedBusTxblIncmAmt
PY Contributions Grants	$97,889,217	PYContributionsGrantsAmt
CY Contributions Grants	$93,868,783	CYContributionsGrantsAmt
PY Program Service Revenue	$334,502,523	PYProgramServiceRevenueAmt
CY Program Service Revenue	$358,074,542	CYProgramServiceRevenueAmt
PY Investment Income	$52,527,575	PYInvestmentIncomeAmt
CY Investment Income	$52,655,253	CYInvestmentIncomeAmt
PY Other Revenue	$11,888,226	PYOtherRevenueAmt
CY Other Revenue	$11,648,431	CYOtherRevenueAmt
PY Total Revenue	$496,807,541	PYTotalRevenueAmt
CY Total Revenue	$516,247,009	CYTotalRevenueAmt
PY Grants And Similar Paid	$86,754,953	PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid	$92,885,819	CYGrantsAndSimilarPaidAmt
CY Benefits Paid To Members	$0	CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid	$204,794,643	PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid	$215,923,221	CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns	$933,332	PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns	$1,496,917	CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense	$22,310,934	CYTotalFundraisingExpenseAmt
PY Other Expenses	$122,057,141	PYOtherExpensesAmt
CY Other Expenses	$141,042,088	CYOtherExpensesAmt
PY Total Expenses	$414,540,069	PYTotalExpensesAmt
CY Total Expenses	$451,348,045	CYTotalExpensesAmt
PY Revenues Less Expenses	$82,267,472	PYRevenuesLessExpensesAmt
CY Revenues Less Expenses	$64,898,964	CYRevenuesLessExpensesAmt
Total Assets BOY	$1,447,663,313	TotalAssetsBOYAmt
Total Assets EOY	$1,503,979,756	TotalAssetsEOYAmt
Total Liabilities BOY	$472,631,456	TotalLiabilitiesBOYAmt
Total Liabilities EOY	$428,968,742	TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY	$975,031,857	NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY	$1,075,011,014	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	$197,924,550	ExpenseAmt
Grant	$76,801,375	GrantAmt
Revenue	$281,712,789	RevenueAmt
Desc	Instruction of approximately 7,232 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 visiting students from 51 different countries. More than 60% 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. 64.2% of the graduate and undergraduate student population received financial aid awards. Approximately 4,480 students received scholarships or grants from the institution during the year.	Desc

Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp

Field	Value	IRS element (for citing)
Expense	$105,123,490	ExpenseAmt
Grant	$13,672,763	GrantAmt
Revenue	$83,751,563	RevenueAmt
Desc	Wake Forest maintains campus bookstores, housing and dining facilities, mail services and other program services, including Athletics. Athletic scholarships provided funding for 286 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	$55,328,845	ExpenseAmt
Grant	$678,070	GrantAmt
Revenue	$1,908,497	RevenueAmt
Desc	Wake Forest University maintains a campus with academic buildings, research laboratories, student dormitories, with 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	$21,710,740	TotalOtherProgSrvcExpenseAmt
Total Other Prog Srvc Grant	$1,733,611	TotalOtherProgSrvcGrantAmt
Total Other Prog Srvc Revenue	$8,994,510	TotalOtherProgSrvcRevenueAmt
Total Program Service Expenses	$380,087,625	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	Yes (true)	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	Yes (true)	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	Yes (true)	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
IRP Document	10127	IRPDocumentCnt
IRP Document W2 G	0	IRPDocumentW2GCnt
Backup Wthld Compliance	Yes (true)	BackupWthldComplianceInd
Employee	5774	EmployeeCnt
Employment Tax Returns Filed	Yes (true)	EmploymentTaxReturnsFiledInd
Unrelated Bus Incm Over Limit	Yes (true)	UnrelatedBusIncmOverLimitInd
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	Yes (true)	Form8282PropertyDisposedOfInd
Form8282 Filed	1	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
Excess Business Holdings	false	ExcessBusinessHoldingsInd
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
Info In Schedule O Part VI	Yes (X)	InfoInScheduleOPartVIInd
Governing Body Voting Members	47	GoverningBodyVotingMembersCnt
Independent Voting Member	38	IndependentVotingMemberCnt
Family Or Business Rln	Yes (true)	FamilyOrBusinessRlnInd
Delegation Of Mgmt Duties	false	DelegationOfMgmtDutiesInd
Change To Org Documents	Yes (true)	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
Other Website	Yes (X)	OtherWebsiteInd
Upon Request	Yes (X)	UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

Field	Value	IRS element (for citing)
Person	Brandon E Gilliland	PersonNm
Phone	3367585233	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	PO BOX 7201	AddressLine1
City	WINSTONSALEM	City
State	NC	State
ZIP Code	27109	ZIPCode

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

Form990 Part VII Section A Form990PartVIISectionAGrp (65 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
Jeanne Whitman Bobbitt
Trustee	3.00	0.00	Yes (X)	$0	$0	$0
Ranlet S Bell
Committee Chair	4.00	0.00	Yes (X)	$0	$0	$0
W Louis Bissette Jr
Committee Chair	4.00	0.20	Yes (X)	$0	$0	$0
Shelmer D Blackburn Jr
Comm Vice Chair	3.00	2.00	Yes (X)	$0	$0	$0
Donna A Boswell PhD
Board ViceChair	6.00	16.20	Yes (X)	$0	$0	$0
Peter C Brockway
Committee Chair	4.00	1.20	Yes (X)	$0	$0	$0
Thomas W Bunn
Trustee	4.00	0.00	Yes (X)	$0	$0	$0
Jocelyn Burton
Trustee	3.00	0.00	Yes (X)	$0	$0	$0
John I Bitove Jr
Trustee	4.00	1.00	Yes (X)	$0	$0	$0
Daniel M Delen
Comm Vice Chair	3.00	0.20	Yes (X)	$0	$0	$0
David W Dupree
Committee Chair	6.00	2.20	Yes (X)	$0	$0	$0
Thomas A Dingledine
Trustee	3.00	0.00	Yes (X)	$0	$0	$0
Lisbeth Clark Evans
Trustee	3.00	0.20	Yes (X)	$0	$0	$0
Lelia J Farr
Comm Vice Chair	3.00	0.20	Yes (X)	$0	$0	$0
Curtis C Farmer
Trustee	3.00	0.00	Yes (X)	$0	$0	$0
Mary R Farrell
Trustee	3.00	0.00	Yes (X)	$0	$0	$0
Donald E Flow
Board Chairman	12.00	6.00	Yes (X)	$0	$0	$0
Kathleen Brelsford French MD
Trustee	3.00	2.00	Yes (X)	$0	$0	$0
James R Helvey III
Trustee	4.00	4.00	Yes (X)	$0	$0	$0
Frank B Holding Jr
Trustee	4.00	0.00	Yes (X)	$0	$0	$0
Lawrence D Hopkins MD
Trustee	3.00	37.00	Yes (X)	$0	$293,562	$30,482
Alice Kirby Horton
Trustee	3.00	0.00	Yes (X)	$0	$0	$0
Albert R Hunt
Trustee	3.00	0.00	Yes (X)	$0	$0	$0
Matthew A King
Committee Chair	4.00	3.00	Yes (X)	$0	$0	$0
John R Lowden
Trustee	3.00	0.20	Yes (X)	$0	$0	$0
James J Marino
Comm Vice Chair	3.00	2.00	Yes (X)	$0	$0	$0
John M McAvoy
Trustee	3.00	0.00	Yes (X)	$0	$0	$0
Frederick W Eubank II
Comm Vice Chair	5.00	0.00	Yes (X)	$0	$0	$0
Kenneth D Miller
Trustee	3.00	0.20	Yes (X)	$0	$0	$0
Wade W Murphy
Trustee	3.00	0.00	Yes (X)	$0	$0	$0
L Steven Nelson
Trustee	3.00	0.00	Yes (X)	$0	$0	$0
Ogden Phipps II
Trustee	3.00	0.00	Yes (X)	$0	$0	$0
Michael G Queen
Comm Vice Chair	3.00	0.00	Yes (X)	$0	$0	$0
Gerald F Roach
Committee Chair	4.00	5.20	Yes (X)	$0	$0	$0
Harold O Rosser
Committee Chair	4.00	0.20	Yes (X)	$0	$0	$0
Deborah K Rubin
Committee Chair	3.00	0.00	Yes (X)	$0	$0	$0
Andrew J Schindler
Trustee	3.00	6.00	Yes (X)	$0	$0	$0
Mitesh B Shah
Board ViceChair	6.00	2.20	Yes (X)	$0	$0	$0
Janice K Story
Comm Vice Chair	3.00	0.00	Yes (X)	$0	$0	$0
Lloyd P Tate Jr
Trustee	3.00	1.00	Yes (X)	$0	$0	$0
Cathy Wall Thomas MD
Trustee	3.00	0.00	Yes (X)	$0	$0	$0
David I Wahrhaftig
Committee Chair	5.00	0.20	Yes (X)	$0	$0	$0
Adelaide A Sink
Trustee	4.00	1.20	Yes (X)	$0	$0	$0
Benjamin C Sutton Jr
Trustee	3.00	1.00	Yes (X)	$0	$0	$0
John M Vann
Trustee	3.00	0.00	Yes (X)	$0	$0	$0
Seth H Waugh
Trustee	3.00	0.00	Yes (X)	$0	$0	$0
Jay G Sehgal
Trustee	3.00	0.00	Yes (X)	$4,441	$0	$0
Nathan O Hatch PhD
President	29.00	11.00		$1,018,765	$0	$389,496	Yes (X)
J Reid Morgan
Sec & Gen Cnsl	19.70	20.30		$468,408	$0	$94,436	Yes (X)
John D McConnell MD
ExecVP HlthAff	2.00	38.00		$0	$1,019,933	$732,938	Yes (X)
B Hofler Milam
Sr.VP & CFO	38.50	1.50		$453,958	$0	$143,482	Yes (X)
James J Dunn
Chf Inv Officer	29.70	10.30		$696,077	$0	$113,253	Yes (X)
Anita M Conrad
Asst Secretary	20.00	20.00		$160,206	$0	$30,855	Yes (X)
Rogan Kersh PhD
Provost	40.00	0.00		$488,852	$0	$115,702	Yes (X)
Jacquelyn S Fetrow PhD
Dean, Wake Forest College	40.00	0.00		$278,306	$0	$31,874		Yes (X)
Ronald D Wellman
Director of Athletics	40.00	0.00		$731,730	$0	$307,519		Yes (X)
Steven S Reinemund
Dean, School of Business	40.00	0.00		$399,702	$0	$45,906		Yes (X)
Mark A Petersen
VP - Advancement	40.00	0.00		$459,162	$0	$101,443		Yes (X)
Jim B Grobe
Football Coach	40.00	0.00		$2,205,313	$0	$51,609			Yes (X)
Andrew R Chan
VP Career Develop.	40.00	0.00		$377,554	$0	$100,408			Yes (X)
Jeffrey Bzdelik
Basketball Coach	40.00	0.00		$1,392,545	$0	$50,918			Yes (X)
Blake D Morant
Dean, Sch of Law	40.00	0.00		$386,378	$0	$47,972			Yes (X)
Ajay Patel PhD
Prof, Sch of Busns	40.00	0.00		$368,383	$0	$74,301			Yes (X)
Mark E Welker PhD
Former Interim Provost	40.00	0.00		$208,812	$0	$39,414				Yes (X)
Craig O Thomas
Former Asst Treas	40.00	0.00		$224,773	$0	$80,892				Yes (X)

Field	Value	IRS element (for citing)
Total Reportable Comp From Org	$10,323,365	TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org	$1,313,495	TotReportableCompRltdOrgAmt
Total Other Compensation	$2,582,900	TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K	391	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/AddressLine1	CityContractorAddress/USAddress/City	StateContractorAddress/USAddress/State	ZIP CodeContractorAddress/USAddress/ZIPCode	ServicesServicesDesc	CompensationCompensationAmt
Frank L Blum Construction Company
830 25th St NE	WinstonSalem	NC	27105	Construction	$20,567,955
Aramark Campus Services
1101 Market St 12th Fl	Philadelphia	PA	19107	Food Service	$18,217,769
EBSCO Subscription Service
6800 Versar Center Ste 131	Springfield	VA	22151	Subscr mgmt for libr	$2,672,651
IL Long Construction Co Inc
PO Box 4186	WinstonSalem	NC	27115	Construction	$3,364,540
AC Corporation
301 Creek Ridge Road	Greensboro	NC	27406	Mech & elec services	$2,877,189

Field	Value	IRS element (for citing)
Cntrct Rcvd Greater Than100 K	124	CntrctRcvdGreaterThan100KCnt
Fundraising	$1,022,412	FundraisingAmt
Related Organizations	$66,895	RelatedOrganizationsAmt
Government Grants	$8,994,510	GovernmentGrantsAmt
All Other Contributions	$83,784,966	AllOtherContributionsAmt
Noncash Contributions	$13,637,292	NoncashContributionsAmt
Total Contributions	$93,868,783	TotalContributionsAmt

Program Service Revenue ProgramServiceRevenueGrp (5 entries)

DescDesc	BusinessBusinessCd	Total Revenue ColumnTotalRevenueColumnAmt	Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt	ExclusionExclusionAmt	Unrelated Business RevenueUnrelatedBusinessRevenueAmt
Athletic Programs	711210	$26,802,954	$25,354,912	$1,448,042
Organized Activities	515100	$4,397,772	$3,800,027	$586,380	$11,365
Student Housing & Dining	721310	$37,739,503	$37,739,503
Telecom & Other Services	611710	$2,837,143	$2,346,033	$491,110
Tuition and Fees	611310	$281,712,789	$281,712,789

Total Oth Program Service Rev TotalOthProgramServiceRevGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$4,584,381	TotalRevenueColumnAmt
Related Or Exempt Func Income	$3,336,588	RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue	$625,480	UnrelatedBusinessRevenueAmt
Exclusion	$622,313	ExclusionAmt

Field	Value	IRS element (for citing)
Total Program Service Revenue	$358,074,542	TotalProgramServiceRevenueAmt

Investment Income InvestmentIncomeGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$20,206,613	TotalRevenueColumnAmt
Unrelated Business Revenue	-$2,740,423	UnrelatedBusinessRevenueAmt
Exclusion	$22,947,036	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	$2,193,337	TotalRevenueColumnAmt
Exclusion	$2,193,337	ExclusionAmt

Gross Rents GrossRentsGrp

Field	Value	IRS element (for citing)
Real	$9,074,680	RealAmt

Less Rental Expenses LessRentalExpensesGrp

Field	Value	IRS element (for citing)
Real	$6,641,384	RealAmt

Rental Income Or Loss RentalIncomeOrLossGrp

Field	Value	IRS element (for citing)
Real	$2,433,296	RealAmt

Net Rental Income Or Loss NetRentalIncomeOrLossGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$2,433,296	TotalRevenueColumnAmt
Exclusion	$2,433,296	ExclusionAmt

Gross Amount Sales Assets GrossAmountSalesAssetsGrp

Field	Value	IRS element (for citing)
Securities	$454,455,000	SecuritiesAmt

Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp

Field	Value	IRS element (for citing)
Securities	$422,006,360	SecuritiesAmt

Gain Or Loss GainOrLossGrp

Field	Value	IRS element (for citing)
Securities	$32,448,640	SecuritiesAmt

Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$32,448,640	TotalRevenueColumnAmt
Exclusion	$32,448,640	ExclusionAmt

Field	Value	IRS element (for citing)
Fundraising Gross Income	$43,725	FundraisingGrossIncomeAmt
Contri Rpt Fundraising Event	$1,022,412	ContriRptFundraisingEventAmt
Fundraising Direct Expenses	$126,897	FundraisingDirectExpensesAmt

Net Incm From Fundraising Evt NetIncmFromFundraisingEvtGrp

Field	Value	IRS element (for citing)
Total Revenue Column	-$83,172	TotalRevenueColumnAmt
Exclusion	-$83,172	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	$8,141,005	GrossSalesOfInventoryAmt
Cost Of Goods Sold	$1,679,179	CostOfGoodsSoldAmt

Net Income Or Loss NetIncomeOrLossGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$6,461,826	TotalRevenueColumnAmt
Unrelated Business Revenue	$3,411,364	UnrelatedBusinessRevenueAmt
Exclusion	$3,050,462	ExclusionAmt

Other Revenue Misc OtherRevenueMiscGrp (3 entries)

DescDesc	BusinessBusinessCd	Total Revenue ColumnTotalRevenueColumnAmt	Unrelated Business RevenueUnrelatedBusinessRevenueAmt
Athletic Advertising	541800	$33,592	$33,592
Tennis Club	713940	$177,222	$177,222
Winston-Salem Tennis Cup	711210	$432,330	$432,330

Field	Value	IRS element (for citing)
Other Revenue Total	$643,144	OtherRevenueTotalAmt

Total Revenue TotalRevenueGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$516,247,009	TotalRevenueColumnAmt
Related Or Exempt Func Income	$354,289,852	RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue	$1,950,930	UnrelatedBusinessRevenueAmt
Exclusion	$66,137,444	ExclusionAmt

Grants To Domestic Orgs GrantsToDomesticOrgsGrp

Field	Value	IRS element (for citing)
Total	$1,711,709	TotalAmt
Program Services	$1,711,709	ProgramServicesAmt

Grants To Domestic Individuals GrantsToDomesticIndividualsGrp

Field	Value	IRS element (for citing)
Total	$90,340,496	TotalAmt
Program Services	$90,340,496	ProgramServicesAmt

Foreign Grants ForeignGrantsGrp

Field	Value	IRS element (for citing)
Total	$833,614	TotalAmt
Program Services	$833,614	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	$5,343,594	TotalAmt
Program Services	$1,033,985	ProgramServicesAmt
Management And General	$3,057,410	ManagementAndGeneralAmt
Fundraising	$1,252,199	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	$165,739,485	TotalAmt
Program Services	$140,081,533	ProgramServicesAmt
Management And General	$15,458,698	ManagementAndGeneralAmt
Fundraising	$10,199,254	FundraisingAmt

Pension Plan Contributions PensionPlanContributionsGrp

Field	Value	IRS element (for citing)
Total	$13,344,911	TotalAmt
Program Services	$10,975,385	ProgramServicesAmt
Management And General	$1,464,063	ManagementAndGeneralAmt
Fundraising	$905,463	FundraisingAmt

Other Employee Benefits OtherEmployeeBenefitsGrp

Field	Value	IRS element (for citing)
Total	$19,659,186	TotalAmt
Program Services	$14,290,958	ProgramServicesAmt
Management And General	$3,965,641	ManagementAndGeneralAmt
Fundraising	$1,402,587	FundraisingAmt

Payroll Taxes PayrollTaxesGrp

Field	Value	IRS element (for citing)
Total	$11,836,045	TotalAmt
Program Services	$9,734,434	ProgramServicesAmt
Management And General	$1,298,526	ManagementAndGeneralAmt
Fundraising	$803,085	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	$404,463	TotalAmt
Program Services	$194,559	ProgramServicesAmt
Management And General	$209,904	ManagementAndGeneralAmt

Fees For Services Accounting FeesForServicesAccountingGrp

Field	Value	IRS element (for citing)
Total	$192,599	TotalAmt
Program Services	$7,839	ProgramServicesAmt
Management And General	$184,760	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	$1,496,917	TotalAmt
Fundraising	$1,496,917	FundraisingAmt

Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp

Field	Value	IRS element (for citing)
Total	$11,593,933	TotalAmt
Program Services	$6,069,328	ProgramServicesAmt
Management And General	$5,524,605	ManagementAndGeneralAmt

Fees For Services Other FeesForServicesOtherGrp

Field	Value	IRS element (for citing)
Total	$15,178,795	TotalAmt
Program Services	$9,535,974	ProgramServicesAmt
Management And General	$4,436,755	ManagementAndGeneralAmt
Fundraising	$1,206,066	FundraisingAmt

Advertising AdvertisingGrp

Field	Value	IRS element (for citing)
Total	$5,688,634	TotalAmt
Program Services	$3,959,288	ProgramServicesAmt
Management And General	$271,759	ManagementAndGeneralAmt
Fundraising	$1,457,587	FundraisingAmt

Office Expenses OfficeExpensesGrp

Field	Value	IRS element (for citing)
Total	$21,689,532	TotalAmt
Program Services	$15,028,164	ProgramServicesAmt
Management And General	$4,258,289	ManagementAndGeneralAmt
Fundraising	$2,403,079	FundraisingAmt

Information Technology InformationTechnologyGrp

Field	Value	IRS element (for citing)
Total	$5,005,426	TotalAmt
Program Services	$1,496,251	ProgramServicesAmt
Management And General	$3,474,943	ManagementAndGeneralAmt
Fundraising	$34,232	FundraisingAmt

Royalties RoyaltiesGrp

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

Occupancy OccupancyGrp

Field	Value	IRS element (for citing)
Total	$11,157,693	TotalAmt
Program Services	$9,221,897	ProgramServicesAmt
Management And General	$1,723,631	ManagementAndGeneralAmt
Fundraising	$212,165	FundraisingAmt

Travel TravelGrp

Field	Value	IRS element (for citing)
Total	$11,388,934	TotalAmt
Program Services	$10,468,766	ProgramServicesAmt
Management And General	$146,888	ManagementAndGeneralAmt
Fundraising	$773,280	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	$2,048,161	TotalAmt
Program Services	$1,678,368	ProgramServicesAmt
Management And General	$297,320	ManagementAndGeneralAmt
Fundraising	$72,473	FundraisingAmt

Interest InterestGrp

Field	Value	IRS element (for citing)
Total	$11,982,426	TotalAmt
Program Services	$11,982,426	ProgramServicesAmt

Payments To Affiliates PaymentsToAffiliatesGrp

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

Depreciation Depletion DepreciationDepletionGrp

Field	Value	IRS element (for citing)
Total	$29,909,758	TotalAmt
Program Services	$29,909,758	ProgramServicesAmt

Insurance InsuranceGrp

Field	Value	IRS element (for citing)
Total	$1,991,062	TotalAmt
Program Services	$758,278	ProgramServicesAmt
Management And General	$1,234,168	ManagementAndGeneralAmt
Fundraising	-$1,384	FundraisingAmt

Other Expenses OtherExpensesGrp (4 entries)

DescDesc	TotalTotalAmt	Program ServicesProgramServicesAmt	Management And GeneralManagementAndGeneralAmt	FundraisingFundraisingAmt
Library, Books & Subscriptions	$4,896,112	$4,817,243	$31,896	$46,973
Non Capital Equip & Furnishing	$3,755,712	$2,118,395	$1,613,032	$24,285
Auxiliary Enterprises	$3,356,743	$3,348,593	$2,668	$5,482
Miscellaneous	$802,105	$490,384	$294,530	$17,191

All Other Expenses AllOtherExpensesGrp

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

Total Functional Expenses TotalFunctionalExpensesGrp

Field	Value	IRS element (for citing)
Total	$451,348,045	TotalAmt
Program Services	$380,087,625	ProgramServicesAmt
Management And General	$48,949,486	ManagementAndGeneralAmt
Fundraising	$22,310,934	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	$99,519,463	BOYAmt
EOY	$39,697,289	EOYAmt

Pledges And Grants Receivable PledgesAndGrantsReceivableGrp

Field	Value	IRS element (for citing)
BOY	$86,076,804	BOYAmt
EOY	$103,474,989	EOYAmt

Accounts Receivable AccountsReceivableGrp

Field	Value	IRS element (for citing)
BOY	$12,448,471	BOYAmt
EOY	$11,562,235	EOYAmt

Receivables From Officers Etc ReceivablesFromOfficersEtcGrp

Field	Value	IRS element (for citing)
BOY	$109,883	BOYAmt
EOY	$54,941	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	$22,764,662	BOYAmt
EOY	$22,069,346	EOYAmt

Inventories For Sale Or Use InventoriesForSaleOrUseGrp

Field	Value	IRS element (for citing)
BOY	$616,537	BOYAmt
EOY	$645,912	EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

Field	Value	IRS element (for citing)
BOY	$1,892,199	BOYAmt
EOY	$4,923,215	EOYAmt

Field	Value	IRS element (for citing)
Land Bldg Equip Cost Or Other Bss	$777,377,083	LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec	$336,998,482	LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

Field	Value	IRS element (for citing)
BOY	$429,263,442	BOYAmt
EOY	$440,378,601	EOYAmt

Investments Pub Traded Sec InvestmentsPubTradedSecGrp

Field	Value	IRS element (for citing)
BOY	$360,803,167	BOYAmt
EOY	$389,273,584	EOYAmt

Investments Other Securities InvestmentsOtherSecuritiesGrp

Field	Value	IRS element (for citing)
BOY	$430,124,156	BOYAmt
EOY	$488,235,590	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	$4,044,529	BOYAmt
EOY	$3,664,054	EOYAmt

Total Assets TotalAssetsGrp

Field	Value	IRS element (for citing)
BOY	$1,447,663,313	BOYAmt
EOY	$1,503,979,756	EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

Field	Value	IRS element (for citing)
BOY	$41,784,742	BOYAmt
EOY	$23,429,638	EOYAmt

Grants Payable GrantsPayableGrp

Field	Value	IRS element (for citing)
BOY	$9,827,117	BOYAmt
EOY	$9,688,229	EOYAmt

Deferred Revenue DeferredRevenueGrp

Field	Value	IRS element (for citing)
BOY	$23,193,502	BOYAmt
EOY	$26,568,564	EOYAmt

Tax Exempt Bond Liabilities TaxExemptBondLiabilitiesGrp

Field	Value	IRS element (for citing)
BOY	$155,545,000	BOYAmt
EOY	$150,500,000	EOYAmt

Escrow Account Liability EscrowAccountLiabilityGrp

Field	Value	IRS element (for citing)
BOY	$444,955	BOYAmt
EOY	$403,623	EOYAmt

Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp

Field	Value	IRS element (for citing)
BOY	$31,604,159	BOYAmt
EOY	$5,904,589	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	$85,231,981	BOYAmt
EOY	$87,474,099	EOYAmt

Total Liabilities TotalLiabilitiesGrp

Field	Value	IRS element (for citing)
BOY	$472,631,456	BOYAmt
EOY	$428,968,742	EOYAmt

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

Unrestricted Net Assets UnrestrictedNetAssetsGrp

Field	Value	IRS element (for citing)
BOY	$407,222,847	BOYAmt
EOY	$458,170,848	EOYAmt

Temporarily Rstr Net Assets TemporarilyRstrNetAssetsGrp

Field	Value	IRS element (for citing)
BOY	$336,724,317	BOYAmt
EOY	$362,247,638	EOYAmt

Permanently Rstr Net Assets PermanentlyRstrNetAssetsGrp

Field	Value	IRS element (for citing)
BOY	$231,084,693	BOYAmt
EOY	$254,592,528	EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

Field	Value	IRS element (for citing)
BOY	$975,031,857	BOYAmt
EOY	$1,075,011,014	EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

Field	Value	IRS element (for citing)
BOY	$1,447,663,313	BOYAmt
EOY	$1,503,979,756	EOYAmt

Field	Value	IRS element (for citing)
Info In Schedule O Part XI	Yes (X)	InfoInScheduleOPartXIInd
Reconcilation Revenue Expnss	$64,898,964	ReconcilationRevenueExpnssAmt
Net Unrlzd Gains Losses Invst	$31,983,416	NetUnrlzdGainsLossesInvstAmt
Other Changes In Net Assets	$3,096,777	OtherChangesInNetAssetsAmt
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

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
Rallies Demonstrations	false	RalliesDemonstrationsInd
Other Activities	false	OtherActivitiesInd
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 which makes contacts; 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, 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. At the state level, efforts included legislation to delay the expiration of the Historic Mill Restoration Tax Credit for the Wake Forest Innovation Quarter Research Park in downtown Winston-Salem.	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	$478,654,600	BeginningBalanceAmt
Additions During Year	$61,455,987	AdditionsDuringYearAmt
Distributions During Year	$25,360,689	DistributionsDuringYearAmt
Ending Balance	$514,749,898	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	$630,580,382	BeginningYearBalanceAmt
Contributions	$18,658,098	ContributionsAmt
Investment Earnings Or Losses	$61,345,143	InvestmentEarningsOrLossesAmt
Grants Or Scholarships	$17,125,125	GrantsOrScholarshipsAmt
Other Expenditures	$9,464,087	OtherExpendituresAmt
Administrative Expenses	$1,561,785	AdministrativeExpensesAmt
End Year Balance	$682,432,627	EndYearBalanceAmt

CY Minus1 Yr Endwmt Fund CYMinus1YrEndwmtFundGrp

Field	Value	IRS element (for citing)
Beginning Year Balance	$586,318,598	BeginningYearBalanceAmt
Contributions	$34,222,614	ContributionsAmt
Investment Earnings Or Losses	$39,951,119	InvestmentEarningsOrLossesAmt
Grants Or Scholarships	$12,712,804	GrantsOrScholarshipsAmt
Other Expenditures	$15,742,738	OtherExpendituresAmt
Administrative Expenses	$1,456,407	AdministrativeExpensesAmt
End Year Balance	$630,580,382	EndYearBalanceAmt

CY Minus2 Yr Endwmt Fund CYMinus2YrEndwmtFundGrp

Field	Value	IRS element (for citing)
Beginning Year Balance	$609,317,298	BeginningYearBalanceAmt
Contributions	$4,406,986	ContributionsAmt
Investment Earnings Or Losses	$5,771,784	InvestmentEarningsOrLossesAmt
Grants Or Scholarships	$10,553,138	GrantsOrScholarshipsAmt
Other Expenditures	$21,222,672	OtherExpendituresAmt
Administrative Expenses	$1,401,660	AdministrativeExpensesAmt
End Year Balance	$586,318,598	EndYearBalanceAmt

CY Minus3 Yr Endwmt Fund CYMinus3YrEndwmtFundGrp

Field	Value	IRS element (for citing)
Beginning Year Balance	$531,560,575	BeginningYearBalanceAmt
Contributions	$37,795,637	ContributionsAmt
Investment Earnings Or Losses	$70,599,050	InvestmentEarningsOrLossesAmt
Grants Or Scholarships	$10,874,429	GrantsOrScholarshipsAmt
Other Expenditures	$17,390,859	OtherExpendituresAmt
Administrative Expenses	$2,372,676	AdministrativeExpensesAmt
End Year Balance	$609,317,298	EndYearBalanceAmt

CY Minus4 Yr Endwmt Fund CYMinus4YrEndwmtFundGrp

Field	Value	IRS element (for citing)
Beginning Year Balance	$504,636,725	BeginningYearBalanceAmt
Contributions	$4,856,562	ContributionsAmt
Investment Earnings Or Losses	$53,342,647	InvestmentEarningsOrLossesAmt
Grants Or Scholarships	$17,524,560	GrantsOrScholarshipsAmt
Other Expenditures	$11,167,739	OtherExpendituresAmt
Administrative Expenses	$2,583,060	AdministrativeExpensesAmt
End Year Balance	$531,560,575	EndYearBalanceAmt

Field	Value	IRS element (for citing)
Board Designated Balance EOY	0.32000	BoardDesignatedBalanceEOYPct
Prmnnt Endowment Balance EOY	0.36000	PrmnntEndowmentBalanceEOYPct
Term Endowment Balance EOY	0.32000	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	$571,500	InvestmentCostOrOtherBasisAmt
Other Cost Or Other Basis	$14,488,205	OtherCostOrOtherBasisAmt
Book Value	$15,059,705	BookValueAmt

Buildings BuildingsGrp

Field	Value	IRS element (for citing)
Investment Cost Or Other Basis	$54,625,994	InvestmentCostOrOtherBasisAmt
Other Cost Or Other Basis	$409,693,865	OtherCostOrOtherBasisAmt
Depreciation	$152,551,840	DepreciationAmt
Book Value	$311,768,019	BookValueAmt

Leasehold Improvements LeaseholdImprovementsGrp

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	$168,933,024	OtherCostOrOtherBasisAmt
Depreciation	$112,491,543	DepreciationAmt
Book Value	$56,441,481	BookValueAmt

Equipment EquipmentGrp

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	$111,349,608	OtherCostOrOtherBasisAmt
Depreciation	$70,471,261	DepreciationAmt
Book Value	$40,878,347	BookValueAmt

Other Land Buildings OtherLandBuildingsGrp

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	$17,714,887	OtherCostOrOtherBasisAmt
Depreciation	$1,483,838	DepreciationAmt
Book Value	$16,231,049	BookValueAmt

Field	Value	IRS element (for citing)
Total Book Value Land Buildings	$440,378,601	TotalBookValueLandBuildingsAmt
Total Book Value Securities	$488,235,590	TotalBookValueSecuritiesAmt

Other Liabilities Org OtherLiabilitiesOrgGrp (4 entries)

DescDesc	AmtAmt
Annuities payable	$22,765,319
Bond premium	$2,176,825
Other liabilities and deferral	$47,274,326
Postretirement benefits	$15,257,629

Field	Value	IRS element (for citing)
Total Liability	$87,474,099	TotalLiabilityAmt
Footnote Text	Yes (X)	FootnoteTextInd
Total Rev Etc Audited Fincl Stmt	$451,821,199	TotalRevEtcAuditedFinclStmtAmt
Net Unrealized Gains Invst	$31,983,416	NetUnrealizedGainsInvstAmt
Other Revenue	$8,798,951	OtherRevenueAmt
Revenue Not Reported	$40,782,367	RevenueNotReportedAmt
Revenue Subtotal	$411,038,832	RevenueSubtotalAmt
Investment Expenses Not Incld	$8,863,269	InvestmentExpensesNotIncldAmt
Other Revenues Not Included	$96,344,908	OtherRevenuesNotIncludedAmt
Revenue Not Reported Fincl Stmt	$105,208,177	RevenueNotReportedFinclStmtAmt
Total Revenue Per Form990	$516,247,009	TotalRevenuePerForm990Amt
Tot Expns Etc Audited Fincl Stmt	$354,572,706	TotExpnsEtcAuditedFinclStmtAmt
Other Expenses Included	$8,798,951	OtherExpensesIncludedAmt
Expenses Not Reported	$8,798,951	ExpensesNotReportedAmt
Expenses Subtotal	$345,773,755	ExpensesSubtotalAmt
Investment Expenses Not Incld2	$8,863,269	InvestmentExpensesNotIncld2Amt
Other Expenses Not Included	$96,711,021	OtherExpensesNotIncludedAmt
Expenses Not Rpt Fincl Stmt	$105,574,290	ExpensesNotRptFinclStmtAmt
Total Expenses Per Form990	$451,348,045	TotalExpensesPerForm990Amt

Supplemental Information Detail SupplementalInformationDetail (10 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 value of the collections is 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	The organization's investment office manages the endowment pool for both the organization and several related organizations identified in Schedule R. Such investments are not included on the organization's balance sheet, but are contained in the consolidated financial statements.
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 64.4% of the expendable endowment funds provided scholarships for Wake Forest University students during the fiscal year. 13.3% was distributed for department chair and faculty positions, including funds for research professorships. 18.8% supported educational programs generally, the libraries and general university operations. 3.5% provided support for other specific university needs. Due to the fluctuations of university and student needs, these percentages may change from year to year. Only a portion of the Endowment is Restricted to a single use.
Part X : FIN48 Footnote	Wake Forest University is a tax-exempt organization as described in Section 501(c)(3) of the Internal Revenue Code and is generally exempt from federal income taxes on related income pursuant to Section 501(a) of the Code. Accordingly, no provision for income taxes is made in the consolidated financial statements. Unrelated business income of the University is reported on Form 990-T. The University recognizes the effect of income tax positions only if those positions are more likely than not of being sustained.
Part XI, Line 2d: Other revenue amounts included in F/S but not included on form 990	Rental Expenses $6641385 Cost of Goods Sold $1679179 Fundraising event expenses $126897 Other $351490
Part XI, Line 4b: Other revenue amounts included on 990 but not included in F/S	Related party transfers In $206534 Scholarships net tuition on F/S $89861531 Allocations moved to net expense $3251498 Verger Tax Consolidation $2730664 Pledge allowance adjustment $195815 Other adjustments $98866
Part XII, Line 2d: Other expenses and losses per audited F/S	Rental expenses $6641385 Cost of Goods Sold $1679179 Fundraising event expenses $126897 Other $351490
Part XII, Line 4b: Other revenue amounts included on 990 but not included in F/S	Scholarship allowance $89861531 Allocations moved to net expense $3251498 Verger Tax Consolidation $2730664 Transactions with related parties $505649 Pledge allowance adjustment $195815 Other adjustments $165864

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 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.
Schedule E, Line 3 - Racially Nondiscriminatory Policy Publicized	Wake Forest University publishes its nondiscrimination policy 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 F IRS990ScheduleF

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

Account Activities Outside US AccountActivitiesOutsideUSGrp (39 entries)

RegionRegionTxt	OfficesOfficesCnt	EmployeeEmployeeCnt	Type Of Activities ConductedTypeOfActivitiesConductedTxt	Specific Services ProvidedSpecificServicesProvidedTxt	Region Total ExpendituresRegionTotalExpendituresAmt
Ctr America & Caribbean	1	13	Program Service	Study Abroad	$123,000
Ctr America & Caribbean	0	0	Program Service	Services	$12,765
Europe & North Atlantic	0	0	Program Service	Publication Services	$7,499
Europe & North Atlantic	0	0	Program Service	Fundraising	$7,500
East Asia & Pacific	0	0	Program Service	Research	$8,672
East Asia & Pacific	1	11	Program Service	Study Abroad	$749,809
Europe & North Atlantic	5	33	Program Service	Study Abroad	$3,020,747
Europe & North Atlantic	0	0	Program Service	Conference	$7,994
Europe & North Atlantic	0	0	Program Service	Research	$73,217
Mid East & N Africa	0	0	Program Service	Study Abroad	$24,297
Mid East & N Africa	0	0	Program Service	Research	$5,000
Sub-Saharan Africa	0	0	Program Service	Investing Asset Review	$3,044
North America	0	0	Program Service	Conference	$150
North America	0	0	Program Service	Research	$9,605
North America	0	0	Program Service	Publication Services	$686
Europe & North Atlantic	0	0	Program Service	Recruiting	$481
South America	0	0	Program Service	Research	$76,531
South America	0	0	Program Service	Study Abroad	$171,346
South Asia	0	0	Program Service	Conference	$200
South Asia	0	0	Program Service	Study Abroad	$124,262
Sub-Saharan Africa	0	0	Program Service	Study Abroad	$29,726
Sub-Saharan Africa	1	5	Program Service	Research	$50,497
East Asia & Pacific	0	0	Program Service	Recruiting	$7,995
Europe & North Atlantic	0	0	Program Service	Services	$38,980
Ctr America & Caribbean	0	0	Investment Book Value		$3,850,000
Europe & North Atlantic	0	0	Investment Book Value		$35,148,000
East Asia & Pacfic	0	0	Investment Book Value		$101,762,000
Mid East & N Africa	0	0	Investment Book Value		$6,927,000
North America	0	0	Investment Book Value		$36,211,000
Russia & Ind Sts	0	0	Investment Book Value		$2,814,000
South America	0	0	Investment Book Value		$41,802,000
South Asia	0	0	Investment Book Value		$5,720,000
Sub-Saharan Africa	0	0	Investment Book Value		$18,343,000
South Asia	0	0	Program Service	Research	$6,819
South America	0	0	Program Services	Conference	$898
South America	0	0	Program Services	Recruiting	$2,700
Russia & the Newly Independent	0	0	Program Services	Conference	$970
Europe & North Atl.	0	0	Prog-Related Assets Book Value		$2,818,748
Ctrl American & Carib.	0	0	Prog-Related Assets Book Value		$1,636,497

Field	Value	IRS element (for citing)
Subtotal Offices	7	SubtotalOfficesCnt
Subtotal Employees	57	SubtotalEmployeesCnt
Continutation Total Office	1	ContinutationTotalOfficeCnt
Continutation Total Employee	5	ContinutationTotalEmployeeCnt
Total Office	8	TotalOfficeCnt
Total Employee	62	TotalEmployeeCnt
Subtotal Spent	$4,130,997	SubtotalSpentAmt
Continuation Spent	$257,466,638	ContinuationSpentAmt
Total Spent	$261,597,635	TotalSpentAmt

Grants To Org Outside US GrantsToOrgOutsideUSGrp (6 entries)

RegionRegionTxt	Purpose Of GrantPurposeOfGrantTxt	Cash GrantCashGrantAmt	Manner Of Cash DisbursementMannerOfCashDisbursementTxt
Europe & N Atla	Research sub	$10,313	Check
Europe & N Atla	Research Sub	$21,656	Check
Europe & N Atla	Research Sub	$5,039	Check
Europe & N Atla	Research Sub	$5,751	Check
Europe & N Atla	Research Sub	$6,500	Check
North America	Research Sub	$7,489	Check

Field	Value	IRS element (for citing)
Total501c3 Org	6	Total501c3OrgCnt

Foreign Individuals Grants ForeignIndividualsGrantsGrp (2 entries)

Type Of AssistanceTypeOfAssistanceTxt	RegionRegionTxt	RecipientRecipientCnt	Cash GrantCashGrantAmt	Manner Of Cash DisbursementMannerOfCashDisbursementTxt
Student research grant	Europe & N Atlant	5	$13,534	Check/wire
Student research grant	South Asia	1	$1,000	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	false	BoycottCountriesInd

Supplemental Information Detail SupplementalInformationDetail

Field	Value	IRS element (for citing)
Form And Line Reference	Part I, Line 2 - Grantmakers Explanation For Monitoring Use of Funds Outside US	FormAndLineReferenceDesc
Explanation	The organization provides funding to faculty for research and other projects and to students for research and other projects. 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, which are not monitored beyond the original grant determination process.	ExplanationTxt

Schedule G IRS990ScheduleG

Field	Value	IRS element (for citing)
Mail Solicitations	Yes (X)	MailSolicitationsInd
Email Solicitations	Yes (X)	EmailSolicitationsInd
Phone Solicitations	Yes (X)	PhoneSolicitationsInd
In Person Solicitations	Yes (X)	InPersonSolicitationsInd
Solicitation Of Non Govt Grants	Yes (X)	SolicitationOfNonGovtGrantsInd
Solicitation Of Govt Grants	Yes (X)	SolicitationOfGovtGrantsInd
Special Fundraising Events	Yes (X)	SpecialFundraisingEventsInd
Agrmt Prof Fundraising Acty	Yes (true)	AgrmtProfFundraisingActyInd

Fundraiser Activity Info FundraiserActivityInfoGrp (10 entries)

Address Line1USAddress/AddressLine1	CityUSAddress/City	StateUSAddress/State	ZIP CodeUSAddress/ZIPCode	ActivityActivityTxt	Fundraiser Control Of FundsFundraiserControlOfFundsInd	Retained By ContractorRetainedByContractorAmt
PW Feats
3 E Read St	Baltimore	MD	21202	Consulting	false	$901,278
Mary Tribble LL
400 N Church St	Charlotte	NC	28202	Consultant	false	$123,910
Silent R Prod
2749 Spring Gar	WinstonSa	NC	27106	Consultant-Film	false	$118,100
Verified Studio
3400 Croasdaile	Durham	NC	27705	Design Serv.	false	$103,489
Lawson Drinkard
PO Box 1645	Big Timber	MT	59011	Consulting	false	$80,884
Anne R Powell
61 Trowbridge	Belmont	MA	02478	Consultant	false	$58,770
Joel W Bowers
1920 Pacific Av	San Fran	CA	94109	Campaign Video	false	$43,000
Pentera Inc
8650 Commerce	Indianapol	IN	46268	Consultant	false	$22,140
Marts & Lundy
1200 Wall St	Lyndhurst	NJ	07071	Consulting	false	$20,700
Bluezoom Inc
230 S Elm St	Greensboro	NC	27401	Campaign Dev.	false	$14,646

Field	Value	IRS element (for citing)
Total Retained By Contractors	$1,486,917	TotalRetainedByContractorsAmt
Licensed States	AL	LicensedStatesCd
Licensed States	AK	LicensedStatesCd
Licensed States	AZ	LicensedStatesCd
Licensed States	AR	LicensedStatesCd
Licensed States	CA	LicensedStatesCd
Licensed States	CO	LicensedStatesCd
Licensed States	CT	LicensedStatesCd
Licensed States	DE	LicensedStatesCd
Licensed States	FL	LicensedStatesCd
Licensed States	GA	LicensedStatesCd
Licensed States	HI	LicensedStatesCd
Licensed States	ID	LicensedStatesCd
Licensed States	IL	LicensedStatesCd
Licensed States	IN	LicensedStatesCd
Licensed States	IA	LicensedStatesCd
Licensed States	KS	LicensedStatesCd
Licensed States	LA	LicensedStatesCd
Licensed States	ME	LicensedStatesCd
Licensed States	MA	LicensedStatesCd
Licensed States	MI	LicensedStatesCd
Licensed States	MO	LicensedStatesCd
Licensed States	MS	LicensedStatesCd
Licensed States	MT	LicensedStatesCd
Licensed States	NE	LicensedStatesCd
Licensed States	NV	LicensedStatesCd
Licensed States	NH	LicensedStatesCd
Licensed States	NJ	LicensedStatesCd
Licensed States	NM	LicensedStatesCd
Licensed States	NC	LicensedStatesCd
Licensed States	NY	LicensedStatesCd
Licensed States	ND	LicensedStatesCd
Licensed States	OH	LicensedStatesCd
Licensed States	OK	LicensedStatesCd
Licensed States	OR	LicensedStatesCd
Licensed States	PA	LicensedStatesCd
Licensed States	RI	LicensedStatesCd
Licensed States	SC	LicensedStatesCd
Licensed States	SD	LicensedStatesCd
Licensed States	TN	LicensedStatesCd
Licensed States	TX	LicensedStatesCd
Licensed States	UT	LicensedStatesCd
Licensed States	VT	LicensedStatesCd
Licensed States	VA	LicensedStatesCd
Licensed States	WA	LicensedStatesCd
Licensed States	WV	LicensedStatesCd
Licensed States	WI	LicensedStatesCd
Licensed States	WY	LicensedStatesCd
Licensed States	DC	LicensedStatesCd

Fundraising Event Information FundraisingEventInformationGrp

Field	Value	IRS element (for citing)
Name Of Event1	WFDD Events	NameOfEvent1Amt
Gross Receipts Event1	$893,507	GrossReceiptsEvent1Amt
Charitable Contri Event1	$893,507	CharitableContriEvent1Amt
Non Cash Prizes Event1	$2,660	NonCashPrizesEvent1Amt
Food And Beverage Event1	$798	FoodAndBeverageEvent1Amt
Other Direct Expenses Event1	$27,770	OtherDirectExpensesEvent1Amt
Name Of Event2	Athletics Dinner/Pro AM	NameOfEvent2Amt
Gross Receipts Event2	$152,490	GrossReceiptsEvent2Amt
Charitable Contri Event2	$111,465	CharitableContriEvent2Amt
Gross Revenue Event2	$41,025	GrossRevenueEvent2Amt
Non Cash Prizes Event2	$24,461	NonCashPrizesEvent2Amt
Rent Facility Costs Event2	$8,520	RentFacilityCostsEvent2Amt
Food And Beverage Event2	$14,382	FoodAndBeverageEvent2Amt
Other Direct Expenses Event2	$24,389	OtherDirectExpensesEvent2Amt
Other Events Total	1	OtherEventsTotalCnt
Gross Receipts Other Events	$20,140	GrossReceiptsOtherEventsAmt
Charitable Contri Other Events	$17,440	CharitableContriOtherEventsAmt
Gross Revenue Other Events	$2,700	GrossRevenueOtherEventsAmt
Non Cash Prizes Other Events	$1,038	NonCashPrizesOtherEventsAmt
Rent Fclty Costs Other Events	$7,421	RentFcltyCostsOtherEventsAmt
Food And Beverage Other Events	$11,547	FoodAndBeverageOtherEventsAmt
Oth Direct Expnss Other Events	$3,911	OthDirectExpnssOtherEventsAmt
Gross Receipts Total	$1,066,137	GrossReceiptsTotalAmt
Charitable Contributions Tot	$1,022,412	CharitableContributionsTotAmt
Gross Revenue Total Events	$43,725	GrossRevenueTotalEventsAmt
Non Cash Prizes Total Events	$28,159	NonCashPrizesTotalEventsAmt
Rent Fclty Costs Total Events	$15,941	RentFcltyCostsTotalEventsAmt
Food And Beverage Total Events	$26,727	FoodAndBeverageTotalEventsAmt
Oth Direct Expnss Total Events	$56,070	OthDirectExpnssTotalEventsAmt
Direct Expense Summary Events	$126,897	DirectExpenseSummaryEventsAmt
Net Income Summary	-$83,172	NetIncomeSummaryAmt

Schedule I IRS990ScheduleI

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

Recipient Table RecipientTable (30 entries)

Address Line1USAddress/AddressLine1	CityUSAddress/City	StateUSAddress/State	ZIP CodeUSAddress/ZIPCode	Recipient EINRecipientEIN	IRC SectionIRCSectionDesc	Cash GrantCashGrantAmt	Non Cash AssistanceNonCashAssistanceAmt	Purpose Of GrantPurposeOfGrantTxt
Campus Crusade for Christ
C/O Joe Hanes 4380 Bolsom Rd	Pfafftown	NC	27040	956006173	501(c)(3)	$10,000	$0	Campus Ministry Contribution
Carnegie Mellon University
PO Box 371032	Pittsburg	PA	15250	250969449	501(c)(3)	$10,983	$0	Research Subcontract
Catholic University of Amer
620 Michigan Ave	Washington	DC	20064	530196583	501(c)(3)	$12,782	$0	Research Subcontract
Clemson University
PO BOx 345714	Clemson	SC	29634	576000254	501(c)(3)	$5,404	$0	Research Subcontract
East Carolina University
1001 East 5th Street	Greenville	NC	27858	566000403	115	$6,517	$0	Research Subcontract
Forte Foundation
9600 Escarpment 745 PMB72	Austin	TX	78749	611457145	501(c)(3)	$13,500	$0	Contrib for Scholarship Opportunity
Georgia Southern University
1332 Southern Drive	Statesboro	GA	30458	586002059	115	$58,716	$0	Research Subcontract
Habitat For Humanity
339 Witt Street	WinstonSalem	NC	27103	561448955	501(c)(3)	$32,500	$0	Habitat House Sponsor
Leadership Winston-Salem
501 N Cleveland Ave Suite 3	WinstonSalem	NC	27101	581574887	501(c)(3)	$6,000	$0	Sponsorship General Support
Medical College of Wisconsin
8701 Watertown Plank Road	Milwaukee	WI	53226	390806261	501(c)(3)	$27,506	$0	Research Subcontract
Northeastern University
360 Huntington Avenue	Boston	MA	02115	041679980	501(c)(3)	$5,700	$0	Research Subcontract
Old Hickory Council BSA
6600 Silas Creek Parkway	WinstonSalem	NC	27106	560529985	501(c)(3)	$12,500	$0	Charitable Contribution
Plant HS Athletics Foundation
2415 S Himes Avenue	Tampa	FL	33629	261947755	501(c)(3)	$30,000	$0	Charitable Contribution
Reynolda House Inc
PO Box 7287	WinstonSalem	NC	27109	560810676	501(c)(3)	$480,000	$0	Operations Support
RiverRun International Film
305 W Fourth Street	WinstonSalem	NC	27101	200254183	501(c)(3)	$10,000	$0	Sponsorship - General Support
Slippery Rock University
1 Morrow Way	Slippery Rock	PA	16057	251513539	115	$10,663	$0	Research Subcontract
Univ of Kentucky Research Fdn
301 Peterson Service Building	Lexington	KY	48109	616033693	501(c)(3)	$7,963	$0	Research Subcontract
Univ of Tennessee Chattanooga
615 McCallie Ave	Chattanooga	TN	37403	626001636	115	$8,740	$0	Research Subcontract
University of Arizona
1111 North Cherry Ave	Tucson	AZ	85721	742652689	115	$19,713	$0	Research Subcontract
University of Michigan
3003 South State St	Ann Arbor	MI	48109	386006309	501(c)(3)	$15,088	$0	Research Subcontract
University of Pennsylvania
3451 Walnut Street	Philadelphia	PA	19104	231352685	501(c)(3)	$48,647	$0	Research Subcontract
University of Pittsburgh
116 Atwood Street	Pittsburgh	PA	15251	250965591	501(c)(3)	$31,883	$0	Research Subcontract
University of Vermont
Botany Dept Marsh Sci Bldg	Burlington	VT	05405	030179440	115	$6,120	$0	Research Subcontract
University of Virginia
580 Massie Rd	Charlottesville	VA	22903	546001796	115	$5,606	$0	Research Subcontract
University of Washington
Gerberding Hall	Seattle	WA	98195	916001537	115	$22,991	$0	Research Subcontract
Wake Forest Univ Health Scien
Medical Center Blvd	WinstonSalem	NC	27157	223849199	501(c)(3)	$612,321	$0	Research Subcontracts
West Virginia University
886 Chestnut Ridge Rd	Morgantown	WV	26506	550665758	115	$8,418	$0	Research Subcontract
Willamette University
900 State Street	Salem	OR	97301	930386972	501(c)(3)	$13,047	$0	Research Subcontract
Winston Salem Business Inc
1080 W Fourth Street	WinstonSalem	NC	27101	510436665	501(c)(3)	$10,000	$0	Charitable Contribution
YMCA of Northwest NC
301 N Main St Ste 1900	WinstonSalem	NC	27101	560530015	501(c)(3)	$26,532	$0	Research Subcontract

Field	Value	IRS element (for citing)
Total501c3 Org	30	Total501c3OrgCnt
Total Other Org	0	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	1538	$1,852,471
Grants for Student Travel	205	$185,261
General Tuition Scholarships	3291		$71,756,257	Univ. charges	Tuition discounts
Tuition Concessions	163		$5,034,451	Univ. charges	Direct tuition payments
Athletic Tuition Awards	286		$10,369,754	Univ. charges	Tuition discounts
ROTC Scholarships	31	$143,905
Athletic Room & Board	197	$2,659,913
Study Abroad Scholarships	301	$1,050,475	$1,690,593	Univ. charges	Direct tuition payments
Third Party Scholarships	610	$31,606	$4,401,980	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	false	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 (19 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	Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt	Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt	Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt	Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt	Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt	Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt	Bonus Related OrganizationsBonusRelatedOrganizationsAmt
Ajay Patel PhD
Prof, Sch of Busns	$358,625	$9,758	$29,725	$44,576	$442,684
Andrew R Chan
VP Career Develop.	$268,838	$8,716	$73,891	$26,517	$477,962	$100,000
Anita M Conrad
Asst Secretary	$156,948	$258	$16,250	$14,605	$191,061	$3,000
B Hofler Milam
Sr.VP & CFO	$413,070	$15,888	$123,892	$19,590	$597,440	$25,000
Blake D Morant
Dean, Sch of Law	$350,017	$28,861	$29,143	$18,829	$434,350	$7,500
Craig O Thomas
Former Asst Treas	$196,270	$90	$61,679	$19,213	$305,665	$28,413	$14,746
J Reid Morgan
Sec & Gen Cnsl	$424,097	$17,811	$28,750	$65,686	$562,844	$26,500
Jacquelyn S Fetrow PhD
Dean, Wake Forest College	$247,832	$10,474	$21,496	$10,378	$310,180	$20,000
James J Dunn
Chf Inv Officer	$537,493	$9,720	$95,896	$17,357	$809,330	$148,864	$73,864
Jeffrey Bzdelik
Basketball Coach	$1,368,364	$24,181	$26,861	$24,057	$1,443,463
Jim B Grobe
Football Coach	$2,167,376	$37,937	$33,269	$18,340	$2,256,922
John D McConnell MD
ExecVP HlthAff								$996,889	$23,044	$711,356	$21,582	$1,752,871
Lawrence D Hopkins MD
Trustee								$195,191	$2,688	$9,555	$20,927	$324,044	$95,683
Mark A Petersen
VP - Advancement	$387,659	$21,503	$84,586	$16,857	$560,605	$50,000
Mark E Welker PhD
Former Interim Provost	$208,479	$333	$21,583	$17,831	$248,226
Nathan O Hatch PhD
President	$807,359	$121,406	$328,524	$60,972	$1,408,261	$90,000
Rogan Kersh PhD
Provost	$452,457	$11,395	$95,775	$19,927	$604,554	$25,000
Ronald D Wellman
Director of Athletics	$685,207	$46,523	$290,381	$17,138	$1,039,249
Steven S Reinemund
Dean, School of Business	$393,702	$6,000	$29,125	$16,781	$445,608

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 traveling. Athletics personnel sometimes use charters for team travel. Many of the chartered flights provided during the year were donated 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 dictated 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 personal services, such as cleaning, landscaping and maintenance, are provided as part of the operation of the President's University-owned residence. Social Club dues are provided by the University when membership fulfills a university business purpose. All such dues are monitored for personal use and 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.
Part III, Additional Information	The filing organization, as part of the compensation arrangement for President Nathan O. Hatch, forgave a loan to Dr. Hatch, creating taxable compensation in the amount of $54,941 (included in Schedule J, Part II, column(B)(iii)).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: $41,080 --- Andrew R. Chan: $8,340 --- Ajay Patel: $26,545All compensation provided to John D. McConnell, M.D. was paid by a related organization, Wake Forest University Health Sciences (WFUHS) for his services as an officer of that related organization (and other related organizations comprising the academic medical center of which the filing organizations Medical School is a part) and not for any of his 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 is the CEO of each of WFUBMC, WFUHS and NCBH. The compensation provided to Lawrence D. Hopkins, MD is paid by a related organization for his services as a faculty member and employee of that related organization and not for his service as a trustee of the filing organization.

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	65818PHB8	2009-05-28	$112,612,190	See Sch K, Part VI	false	false	false
NC Capital Facs Fin Agcy
B	561592154	65818PEC9	2004-12-21	$36,605,000	See Sch K, Part VI, Ser A	false	false	false
NC Capital Facs Fin Agcy
C	561592154	65818PEB1	2004-12-21	$30,760,000	See Sch K, Part VI, Ser B	false	false	false

Tax Exempt Bonds Proceeds TaxExemptBondsProceedsGrp (3 entries)

Bond ReferenceBondReferenceCd	Total ProceedsTotalProceedsAmt	Capitalized InterestCapitalizedInterestAmt	Issuance Costs From ProceedsIssuanceCostsFromProceedsAmt	Capital ExpendituresCapitalExpendituresAmt	Other Spent ProceedsOtherSpentProceedsAmt	Substantial CompletionSubstantialCompletionYr	Current RefundingCurrentRefundingInd	Advance RefundingAdvanceRefundingInd	Final Allocation MadeFinalAllocationMadeInd	Adequate Books And Rec MaintAdequateBooksAndRecMaintInd	RetiredRetiredAmt
A	$113,514,794	$5,935,159	$1,108,136	$66,025,058	$40,446,411	2013	Yes (true)	false	Yes (true)	Yes (true)
B	$36,605,000		$300,161		$36,304,839	2001	Yes (true)	false	Yes (true)	Yes (true)	$10,315,000
C	$30,760,000		$270,000		$30,490,000	1999	false	Yes (true)	Yes (true)	Yes (true)	$16,550,000

Tax Exempt Bonds Private Bus Use TaxExemptBondsPrivateBusUseGrp

Field	Value	IRS element (for citing)
Bond Reference	A	BondReferenceCd
Owning Bond Financed Property	false	OwningBondFinancedPropertyInd
Any Lease Arrangements	Yes (true)	AnyLeaseArrangementsInd
Mgmt Contract Bond Fincd Prop	Yes (true)	MgmtContractBondFincdPropInd
Engage Bond Counsel Contracts	Yes (true)	EngageBondCounselContractsInd
Any Research Agreements	false	AnyResearchAgreementsInd
Engage Bond Counsel Research	Yes (true)	EngageBondCounselResearchInd
Private Bus Use By Others	0.00219	PrivateBusUseByOthersPct
Private Bus Concerning UBI	0.00199	PrivateBusConcerningUBIPct
Total Private Business Use	0.00418	TotalPrivateBusinessUsePct
Bond Iss Meet Prvt Sec Pymt Test	false	BondIssMeetPrvtSecPymtTestInd
Change In Use Bond Financed Prop	false	ChangeInUseBondFinancedPropInd
Remedial Action Taken	false	RemedialActionTakenInd
Procs Nonqualified Bond Remdtd	Yes (true)	ProcsNonqualifiedBondRemdtdInd

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	Term Of HedgeTermOfHedgePct	Superintegrated HedgeSuperintegratedHedgeInd	Hedge TerminatedHedgeTerminatedInd
(no name)
A	false	false	false	Yes (true)	false	false	Yes (true)	Yes (true)
(no name)
B	false	false	Yes (true)	Yes (true)	false	false	false	Yes (true)
See Part V
C	false	false	false	Yes (true)	Yes (true)	false	false	Yes (true)	8.5000	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 Educational Facilities Revenue Bonds (Wake Forest University), Series 2009 were used for New Capital Facilities and to refund two lines of credit, dated 2/28/2007 and 11/4/2008. The credit lines originated to begin construction on the facilities which were ultimately financed by the Series 2009 TE Bonds. No interim rebate calculation was undertaken because at no point were the proceeds of the Bond invested above the bond yield. The summary arbitrage rebate calculation date: September 9, 2014.Bond B,Col(a) Issuer's Name: North Carolina Capital Facilities Finance AgencyBond B,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. Bond C,Col(a) Issuer's Name: North Carolina Capital Facilities Finance AgencyBond C,Col(f) The Variable Rate Educational Facilities Revenue Bonds (Wake Forest University), Series 2004B were used for refunding the tax exempt bonds issued 12/17/1997. Arbitrage rebate calculation December 21, 2004. SCHEDULE K, PART IV, COLUMN C, LINE 3bHedge Providers: Bank of America, N.A. and Wachovia Bank, N.A. The Bank of America, N.A. hedge was terminated in 2009. The Wachovia Bank, N.A., now Wells Fargo Bank, N.A., hedge was terminated in 2011.	ExplanationTxt

Schedule L IRS990ScheduleL

Loans Btwn Org Interested Prsn LoansBtwnOrgInterestedPrsnGrp

Field	Value	IRS element (for citing)
Person	Nathan Hatch	PersonNm
Relationship With Org	Pres.	RelationshipWithOrgTxt
Loan Purpose	Life ins	LoanPurposeTxt
Loan From Organization	Yes (X)	LoanFromOrganizationInd
Original Principal	$274,707	OriginalPrincipalAmt
Balance Due	$54,941	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	$54,941	TotalBalanceDueAmt

Grnt Asst Bnft Interested Prsn GrntAsstBnftInterestedPrsnGrp (2 entries)

Cash GrantCashGrantAmt	Type Of AssistanceTypeOfAssistanceTxt	Assistance PurposeAssistancePurposeTxt
Not required
$54,629	Tuition Waiv	Education
Not required
$79,216	Scholarships	Education

Bus Tr Involve Interested Prsn BusTrInvolveInterestedPrsnGrp (9 entries)

Relationship DescriptionRelationshipDescriptionTxt	TransactionTransactionAmt	TransactionTransactionDesc	Sharing Of RevenuesSharingOfRevenuesInd
IMG College
See Part V	$2,691,338	Licensing Royalties	false
IMG College
See Part V	$97,388	Athl supplies,services	false
Brian A Kell
See Part V	$54,462	Employee Wages	false
Blue CrossBlue Shield NC
See Part V	$1,656,967	Health Plan Administrator	false
Julia Hatch
See Part V	$50,000	Employee Compensation	false
Muriel Hopkins
See Part V	$47,600	Employee Wages	false
Angela J Lynde
See Part V	$35,720	Employee Wages	false
Baker & Associates LLC
See Part V	$170,025	Employee search	false
Smith Anderson Blount LLP
See Part V	$1,318,428	Legal services	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 dependents currently receiving tuition discounts under this plan.The filing organization's Board includes an undergraduate student trustee and the family member of another trustee who are scholarship recipients. As noted in Form 990, Part III, about 64% of our graduate and undergraduate students receive some financial aid.Part IVIMG College: Organization trustee, Benjamin C. Sutton, Jr., is an officer of IMG College. WFU receives royalties from IMG College's marketing of the University's trademarks and sports logo items. The University purchases certain supplies and services from IMG College for use in its Athletics Programs.Brian A. Kell: Family member of the organization's key employee, Dr. Jacquelyn S. Fetrow, was paid wages for his employment with the filing organization.Blue Cross/Blue Shield of North Carolina: Two trustees of the filing organization, L. Steven Nelson and Frank B. Holding, Jr., are members of the Blue Cross/Blue Shield of North Carolina (BCBSNC) Board of Directors. BCBS is the administrator of the University's employee healthcare plan and retiree healthcare plan.Julia Hatch: Family member of the organization's president, Nathan O. Hatch, was paid wages for her employment with the filing organization.Muriel Hopkins: Family member of organization's trustee, Lawrence D. Hopkins, M.D., was paid wages for her employment as an instructor of the filing organization's Law School.Angela J. Lynde: Family member of the organization's key employee, Ronald D. Wellman, was paid wages for her employement with the filing organization.Baker and Associates, LLC: Filing organization's former trustee, Jerry H. Baker, is an officer and more than 35% owner of the interested person, which conducted executive search services for the filing organization.Smith, Anderson, Blount, Dorsett, Mitchell & Jernigan, LLP: Filing organization's trustee, Gerald F. Roach, is a more than 5% equity partner of the interested person law firm.	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	$16,365	NoncashContributionsRptF990Amt
Method Of Determining Revenues	Appraisal	MethodOfDeterminingRevenuesTxt

Cars And Other Vehicles CarsAndOtherVehiclesGrp

Field	Value	IRS element (for citing)
Non Cash Checkbox	Yes (X)	NonCashCheckboxInd
Contribution	117	ContributionCnt
Noncash Contributions Rpt F990	$120,950	NoncashContributionsRptF990Amt
Method Of Determining Revenues	Sale proceeds	MethodOfDeterminingRevenuesTxt

Securities Publicly Traded SecuritiesPubliclyTradedGrp

Field	Value	IRS element (for citing)
Non Cash Checkbox	Yes (X)	NonCashCheckboxInd
Contribution	597	ContributionCnt
Noncash Contributions Rpt F990	$13,153,352	NoncashContributionsRptF990Amt
Method Of Determining Revenues	Market Value	MethodOfDeterminingRevenuesTxt

Real Estate Residential RealEstateResidentialGrp

Field	Value	IRS element (for citing)
Non Cash Checkbox	Yes (X)	NonCashCheckboxInd
Contribution	1	ContributionCnt
Noncash Contributions Rpt F990	$140,000	NoncashContributionsRptF990Amt
Method Of Determining Revenues	Selling price	MethodOfDeterminingRevenuesTxt

Food Inventory FoodInventoryGrp

Field	Value	IRS element (for citing)
Non Cash Checkbox	Yes (X)	NonCashCheckboxInd
Contribution	107	ContributionCnt
Noncash Contributions Rpt F990	$66,011	NoncashContributionsRptF990Amt
Method Of Determining Revenues	Retail	MethodOfDeterminingRevenuesTxt

Archaeological Artifacts ArchaeologicalArtifactsGrp

Field	Value	IRS element (for citing)
Non Cash Checkbox	Yes (X)	NonCashCheckboxInd
Contribution	13	ContributionCnt
Noncash Contributions Rpt F990	$1,785	NoncashContributionsRptF990Amt
Method Of Determining Revenues	Appraisal	MethodOfDeterminingRevenuesTxt

Other Non Cash Contri Table OtherNonCashContriTableGrp (3 entries)

Non Cash CheckboxNonCashCheckboxInd	DescDesc	ContributionContributionCnt	Noncash Contributions Rpt F990NoncashContributionsRptF990Amt	Method Of Determining RevenuesMethodOfDeterminingRevenuesTxt
Yes (X)	Computer Equip	52	$52,930	FMV
Yes (X)	Furniture	2	$10,295	FMV
Yes (X)	Steinway pianos	2	$75,604	FMV

Field	Value	IRS element (for citing)
Form8283 Received	8	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 (2 entries)

Form And Line ReferenceFormAndLineReferenceDesc	ExplanationExplanationTxt
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. 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.
Part I, Line 33, Revenues Not Reported	Wake Forest University received contributed services from donors valued at $303,617, courtesy cars used by employees make up a substantial portion of this.

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (13 entries)

Form And Line ReferenceFormAndLineReferenceDesc	ExplanationExplanationTxt
Client Note 1	Client Note 1 - Wake Forest University2013 year ended 6/30/2014Attachment to Form 990-TSTATEMENT 12PART V, LINE 1: INTEREST IN OR AUTHORITY OVER A FOREIGN ACCOUNTNAME OF COUNTRY: United Kingdom, France, Spain, Austria, Italy, Nicaragua, Canada, Cayman Islands, China
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, student dormitories, with 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: the University's Key Employee, Steven Reinemund is on the Board of Directors of American Express, which company issues cards used by the University and a number of others in the specified group; another trustee is a Director of Blue Cross Blue Shield of North Carolina, which company provides health insurance plans/services to the filing organization and possibly others in the specified group and their businesses; 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. 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 4: Description of Significant Changes to Organizational Documents	The filing organizations governing documents (bylaws and policy resolutions in implementation thereof) were revised during the tax year as follows:* Edits to the role of the Boards Investment Policy Committee that include its authority to place University funds under the management of a Board-approved related organization (Verger Capital Management LLC) formed for the purpose of managing the filing organizations, and other nonprofits, endowments, and other delegations related to the Verger entity;* Edits to policy resolutions on Investment and Brokerage Accounts to reflect the role of the Verger entity.
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 copy of the Form 990 as finalized to all members of both the Audit & Compliance Committee and the entire Board of Trustees for comments and questions 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 Conflicts of Interest Policy and describe any potential conflicts on a questionnaire. Any potential conflicts noted in the questionnaire are reviewed by a standing committee for appropriate resolution. All members of the Board of Trustees are required to determine and report annually, and as they arise, any potential conflicts of interest to the Secretary of the Board of Trustees. The resolution of potential and actual conflicts is subject to the approval of the Chair of the Board (or Vice Chair, as to conflicts involving the Chair) 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.
Other Changes In Net Assets Or Fund Balances - Other Increases	Related party transfer gifts WFUDF = $66998
Other Changes In Net Assets Or Fund Balances - Other Increases	Related party transfer WFUHS = $299115
Other Changes In Net Assets Or Fund Balances - Other Increases	Tax Consolidation of Verger, disregarded entity = $2730664
PART V, LINE 4b: Foreign Accounts	INTEREST IN OR AUTHORITY OVER A FOREIGN ACCOUNTNAME OF COUNTRY: United Kingdom, France, Spain, Austria, Italy, Canada, Nicaragua, Cayman Islands, China.

Schedule R IRS990ScheduleR

Id Disregarded Entities IdDisregardedEntitiesGrp (5 entries)

Address Line1USAddress/AddressLine1	CityUSAddress/City	StateUSAddress/State	ZIP CodeUSAddress/ZIPCode	EINEIN	Primary ActivitiesPrimaryActivitiesTxt	Legal Domicile StateLegalDomicileStateCd	Business Name Line1DirectControllingEntityName/BusinessNameLine1	Total IncomeTotalIncomeAmt	End Of Year AssetsEndOfYearAssetsAmt	Address Line1ForeignAddress/AddressLine1	CityForeignAddress/City	Province Or StateForeignAddress/ProvinceOrState	CountryForeignAddress/Country	Postal CodeForeignAddress/PostalCode	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	Restaurant	NC	NA
Wake Forest Advantage
PO Box 7201	Winston Salem	NC	27109	462754916	International study program	NC	NA	$72,178	$61,524
Verger Fund I LLC
PO Box 7354	Winston Salem	NC	27109		Investment holding	DE	NA
Wake Forest University Spain SL
					study abroad educ. activities		NA		$33,485	C/Toro 84-90 Oficina Izquierda	Salamanca	Salamanca	SP	37120	SP

Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp (13 entries)

Address Line1USAddress/AddressLine1	CityUSAddress/City	StateUSAddress/State	ZIP CodeUSAddress/ZIPCode	EINEIN	Primary ActivitiesPrimaryActivitiesTxt	Legal Domicile StateLegalDomicileStateCd	Exempt Code SectionExemptCodeSectionTxt	Public Charity StatusPublicCharityStatusTxt	Business Name Line1DirectControllingEntityName/BusinessNameLine1	Controlled OrganizationControlledOrganizationInd
Wake Forest University Foundation
PO Box 7201	WinstonSalem	NC	27109	562038193	Real Estate Holding and Management	NC	501(c)(3)	Line 11a, 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 11a, 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 11a, 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 11a, 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)	Line 11a, I	WFU Health Sciences	false
Wake Forest Innovation Quarter Mgmt Co
Medical Center Blvd	WinstonSalem	NC	27157	061818498	Research park development oversight	NC	501(c)(3)	Line 11a, I	WFU Health Sciences	false
Idealliance Foundation
Medical Center Blvd	WinstonSalem	NC	27157	562094060	Educational activities supporting Idealliance	NC	501(c)(3)	Line 11a, I	WFU Health Sciences	false
Wake Forest Innovation Quarter CDC
Medical Center Blvd	WinstonSalem	NC	27157	200177581	Research Park & community economic development	NC	501(c)(3)	Line 11a, I	WFU Health Sciences	false
Dialysis Access Group - Wake Forest Univ
Medical Center Blvd	WinstonSalem	NC	27157	204241942	Provide dialysis treatments to patients	NC	501(c)(3)	Line 9	WFU Health Sciences	false
WFUBMC Community Physicians CP
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 11a, I	NA	false

Id Related Org Txbl Partnership IdRelatedOrgTxblPartnershipGrp (2 entries)

Address Line1USAddress/AddressLine1	CityUSAddress/City	StateUSAddress/State	ZIP CodeUSAddress/ZIPCode	EINEIN	Primary ActivitiesPrimaryActivitiesTxt	Legal Domicile StateLegalDomicileStateCd	Business Name Line1DirectControllingEntityName/BusinessNameLine1	Predominant Income TypePredominantIncomeTypeTxt	Disproportionate AllocationsDisproportionateAllocationsInd	General Or Managing PartnerGeneralOrManagingPartnerInd	OwnershipOwnershipPct	Share Of Total IncomeShareOfTotalIncomeAmt	Share Of EOY AssetsShareOfEOYAssetsAmt
Verger Capital Management LLC
PO Box 7354	Winston Salem	NC	27109	464037343	Asset Management	DE	NA	Unrelated business	false	false	1.00000
Verger Capital Fund LLC
1834 Wake Forest Rd Starling Hall	Winston Salem	NC	27109	464027021	Endowment investing	DE	Verger Fund I	Excluded 512-514 inv	false	false	1.00000	$14,245,424	$481,994,064

Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp (15 entries)

Address Line1USAddress/AddressLine1	CityUSAddress/City	StateUSAddress/State	ZIP CodeUSAddress/ZIPCode	EINEIN	Primary ActivitiesPrimaryActivitiesTxt	Legal Domicile StateLegalDomicileStateCd	Business Name Line1DirectControllingEntityName/BusinessNameLine1	Entity TypeEntityTypeTxt	Share Of EOY AssetsShareOfEOYAssetsAmt	OwnershipOwnershipPct	Controlled OrganizationControlledOrganizationInd
WFU - 5 CRUT
c/o Wake Forest University	WinstonSalem	NC	27109	912129902	Investment	NC	WFU	T	$411,329	0.59140	false
WFU - 6 CRUT
c/o Wake Forest University	WinstonSalem	NC	27109	582175582	Investment	NC	WFU	T	$34,587	0.66250	false
WFU - 6 CRUT
c/o Wake Forest University	WinstonSalem	NC	27109	566473036	Investment	NC	WFU	T	$163,846	0.66260	false
WFU - 6 CRUT
c/o Wake Forest University	WinstonSalem	NC	27109	911832851	Investment	NC	WFU	T	$374,887	0.66260	false
WFU - 6375 CRUT
c/o Wake Forest University	WinstonSalem	NC	27109	566459446	Investment	NC	WFU	T	$92,302	0.57290	false
WFU - 6 CRUT
c/o Wake Forest University	WinstonSalem	NC	27109	900237204	Investment	NC	WFU	T	$199,119	0.66260	false
WFU - 5 CRUT
c/o Wake Forest University	WinstonSalem	NC	27109	582045283	Investment	NC	WFU	T	$209,681	0.50680	false
WFU - 79 CRAT
c/o Wake Forest University	WinstonSalem	NC	27109	566555544	Investment	NC	WFU	T	$409,810	0.66730	false
WFU - 6 CRUT
c/o Wake Forest University	WinstonSalem	NC	27019	566476872	Investment	NC	WFU	T	$125,572	0.54040	false
WFU - 5 NICRUT
c/o Wake Forest University	WinstonSalem	NC	27109	466427408	Investment	NC	WFU	T	$157,592	1.00000	false
WFU - 5 CRUT
c/o Wake Forest University	WinstonSalem	NC	27109	566554614	Investment	NC	WFU	T	$734,008	0.79300	false
WFU - 5 CRAT
c/o Wake Forest University	WinstonSalem	NC	27109	566537111	Investment	NC	WFU	T	$1,343,616	0.81460	false
WFU - 8 CRUT
c/o Wake Forest University	WinstonSalem	NC	27109	912131579	Investment	NC	WFU	T	$63,413	0.74790	false
WFU - 5 CRUT
c/o Wake Forest University	WinstonSalem	NC	27109	566562122	Investment	NC	WFU	T	$52,300	0.64820	false
WFU - 5 CRUT
c/o Wake Forest University	WinstonSalem	NC	27109	456782977	Investment	NC	WFU	T	$183,437	0.51270	false

Field	Value	IRS element (for citing)
Receipt Of Int Annts Rnts Rylts	false	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	false	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	false	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 (11 entries)

Transaction TypeTransactionTypeTxt	InvolvedInvolvedAmt	Method Of Amount DeterminationMethodOfAmountDeterminationTxt
Wake Forest University Foundation
o	$81,731	FMV
Wake Forest University Health Sciences
c	$1,000,000	Cash Transfer
Wake Forest University Health Sciences
p	$2,225,563	Cash Transfer
Wake Forest University Health Sciences
q	$7,695,934	Cash Transfer
Wake Forest University Development Fndn
o	$71,351	FMV
Reynolda House Inc
b	$480,000	GeneralSupport
Verger Capital Management LLC
d	$2,748,898	Cash value
Verger Capital Fund LLC
b	$434,870,382	cash value
Verger Capital Fund LLC
d	$597,973	cash value
Verger Capital Fund LLC
r	$26,057,628	cash value
Verger Capital Fund LLC
s	$10,312,178	cash value

Supplemental Information Detail SupplementalInformationDetail (2 entries)

Form And Line ReferenceFormAndLineReferenceDesc

ExplanationExplanationTxt

Related Party Disclosures

Verger Capital Management, LLC is a controlled entity that will be taxable as a Partnership. It was formed during the filing organization's fiscal year, but has not yet filed a tax return for its own first year end, which will be 12/31/14. Consequently, the information on Schedule R does not have income or assets at the end of the related partnership's year that falls with or within the filing organization's year.

Verger Capital Fund LLC

Verger Capital Fund, LLC (VCF) was created during the year with a Section 351 transfer of $434,870,382 in order to hold the filing organization's Endowment Assets for investment. Shortly after year end VCF accepted endowment assets of other members of the related party group and will be holding and investing endowment assets of all the members of the Wake Forest University controlled group in future periods. All of the VCF investors are exempt 501(c)(3) organizations, and VCF will report as a Partnership each organization's share. At 6/30/14, the filing organization's year end, VCF contained only the filing organization's endowment assets. Therefore income and assets are reported as of that date.