2015-05-13T08:32:09-07:00 2014-06-30 990 2013-07-01 560532138 WAKE FOREST UNIVERSITY WAKE 3367585233 PO BOX 7201 WINSTONSALEM NC 27109 B Hofler Milam Exec Vice Pres 2015-05-13 2013 2016-04-25 22:37:26Z B Hofler Milam P O Box 7226 WinstonSalem NC 27109 946700829 false false X www.wfu.edu X 1834 NC Wake Forest University is an institution of higher education dedicated to the pursuit of excellence in the liberal arts and in graduate and professional education. It operates Wake Forest College, a graduate school of arts and sciences, and four professional schools. 47 38 5774 2150 1950930 -1567949 97889217 93868783 334502523 358074542 52527575 52655253 11888226 11648431 496807541 516247009 86754953 92885819 0 204794643 215923221 933332 1496917 22310934 122057141 141042088 414540069 451348045 82267472 64898964 1447663313 1503979756 472631456 428968742 975031857 1075011014 X Wake Forest University, a 501(c)(3) institution of higher education, is dedicated to the pursuit of excellence in the liberal arts and in graduate and professional education.The organization is comprised of six constituent parts: Wake Forest College; the Graduate School of Arts and Sciences; the School of Law; the School of Medicine; the School of Business; and the School of Divinity. It seeks to honor the ideals of liberal learning, which entail commitment to transmission of cultural heritages; teaching the modes of learning in the basic disciplines of human knowledge; developing critical appreciation of moral, aesthetic and religious values; advancing the frontiers of knowledge through in-depth study and research; and applying knowledge in the service of humanity. false false 197924550 76801375 281712789 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. 105123490 13672763 83751563 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. 55328845 678070 1908497 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. 21710740 1733611 8994510 380087625 true true false true false false false true true true true true false false true true false true true true true true true true true false false true true true true true false false false false true true false true true true true false false true true true true false false true 10127 0 true 5774 true true true OC false false false true true true 1 false false false true false false false false false false X 47 38 true false true false false false false true true false false true true true true true true true true true true X X Brandon E Gilliland 3367585233 PO BOX 7201 WINSTONSALEM NC 27109 X Jeanne Whitman Bobbitt Trustee 3.00 0.00 X 0 0 0 Ranlet S Bell Committee Chair 4.00 0.00 X 0 0 0 W Louis Bissette Jr Committee Chair 4.00 0.20 X 0 0 0 Shelmer D Blackburn Jr Comm Vice Chair 3.00 2.00 X 0 0 0 Donna A Boswell PhD Board ViceChair 6.00 16.20 X 0 0 0 Peter C Brockway Committee Chair 4.00 1.20 X 0 0 0 Thomas W Bunn Trustee 4.00 0.00 X 0 0 0 Jocelyn Burton Trustee 3.00 0.00 X 0 0 0 John I Bitove Jr Trustee 4.00 1.00 X 0 0 0 Daniel M Delen Comm Vice Chair 3.00 0.20 X 0 0 0 David W Dupree Committee Chair 6.00 2.20 X 0 0 0 Thomas A Dingledine Trustee 3.00 0.00 X 0 0 0 Lisbeth Clark Evans Trustee 3.00 0.20 X 0 0 0 Lelia J Farr Comm Vice Chair 3.00 0.20 X 0 0 0 Curtis C Farmer Trustee 3.00 0.00 X 0 0 0 Mary R Farrell Trustee 3.00 0.00 X 0 0 0 Donald E Flow Board Chairman 12.00 6.00 X 0 0 0 Kathleen Brelsford French MD Trustee 3.00 2.00 X 0 0 0 James R Helvey III Trustee 4.00 4.00 X 0 0 0 Frank B Holding Jr Trustee 4.00 0.00 X 0 0 0 Lawrence D Hopkins MD Trustee 3.00 37.00 X 0 293562 30482 Alice Kirby Horton Trustee 3.00 0.00 X 0 0 0 Albert R Hunt Trustee 3.00 0.00 X 0 0 0 Matthew A King Committee Chair 4.00 3.00 X 0 0 0 John R Lowden Trustee 3.00 0.20 X 0 0 0 James J Marino Comm Vice Chair 3.00 2.00 X 0 0 0 John M McAvoy Trustee 3.00 0.00 X 0 0 0 Frederick W Eubank II Comm Vice Chair 5.00 0.00 X 0 0 0 Kenneth D Miller Trustee 3.00 0.20 X 0 0 0 Wade W Murphy Trustee 3.00 0.00 X 0 0 0 L Steven Nelson Trustee 3.00 0.00 X 0 0 0 Ogden Phipps II Trustee 3.00 0.00 X 0 0 0 Michael G Queen Comm Vice Chair 3.00 0.00 X 0 0 0 Gerald F Roach Committee Chair 4.00 5.20 X 0 0 0 Harold O Rosser Committee Chair 4.00 0.20 X 0 0 0 Deborah K Rubin Committee Chair 3.00 0.00 X 0 0 0 Andrew J Schindler Trustee 3.00 6.00 X 0 0 0 Mitesh B Shah Board ViceChair 6.00 2.20 X 0 0 0 Janice K Story Comm Vice Chair 3.00 0.00 X 0 0 0 Lloyd P Tate Jr Trustee 3.00 1.00 X 0 0 0 Cathy Wall Thomas MD Trustee 3.00 0.00 X 0 0 0 David I Wahrhaftig Committee Chair 5.00 0.20 X 0 0 0 Adelaide A Sink Trustee 4.00 1.20 X 0 0 0 Benjamin C Sutton Jr Trustee 3.00 1.00 X 0 0 0 John M Vann Trustee 3.00 0.00 X 0 0 0 Seth H Waugh Trustee 3.00 0.00 X 0 0 0 Jay G Sehgal Trustee 3.00 0.00 X 4441 0 0 Nathan O Hatch PhD President 29.00 11.00 X 1018765 0 389496 J Reid Morgan Sec & Gen Cnsl 19.70 20.30 X 468408 0 94436 John D McConnell MD ExecVP HlthAff 2.00 38.00 X 0 1019933 732938 B Hofler Milam Sr.VP & CFO 38.50 1.50 X 453958 0 143482 James J Dunn Chf Inv Officer 29.70 10.30 X 696077 0 113253 Anita M Conrad Asst Secretary 20.00 20.00 X 160206 0 30855 Rogan Kersh PhD Provost 40.00 0.00 X 488852 0 115702 Jacquelyn S Fetrow PhD Dean, Wake Forest College 40.00 0.00 X 278306 0 31874 Ronald D Wellman Director of Athletics 40.00 0.00 X 731730 0 307519 Steven S Reinemund Dean, School of Business 40.00 0.00 X 399702 0 45906 Mark A Petersen VP - Advancement 40.00 0.00 X 459162 0 101443 Jim B Grobe Football Coach 40.00 0.00 X 2205313 0 51609 Andrew R Chan VP Career Develop. 40.00 0.00 X 377554 0 100408 Jeffrey Bzdelik Basketball Coach 40.00 0.00 X 1392545 0 50918 Blake D Morant Dean, Sch of Law 40.00 0.00 X 386378 0 47972 Ajay Patel PhD Prof, Sch of Busns 40.00 0.00 X 368383 0 74301 Mark E Welker PhD Former Interim Provost 40.00 0.00 X 208812 0 39414 Craig O Thomas Former Asst Treas 40.00 0.00 X 224773 0 80892 10323365 1313495 2582900 391 true true false Frank L Blum Construction Company 830 25th St NE WinstonSalem NC 27105 Construction 20567955 Aramark Campus Services 1101 Market St 12th Fl Philadelphia PA 19107 Food Service 18217769 EBSCO Subscription Service 6800 Versar Center Ste 131 Springfield VA 22151 Subscr mgmt for libr 2672651 IL Long Construction Co Inc PO Box 4186 WinstonSalem NC 27115 Construction 3364540 AC Corporation 301 Creek Ridge Road Greensboro NC 27406 Mech & elec services 2877189 124 1022412 66895 8994510 83784966 13637292 93868783 Athletic Programs 711210 26802954 25354912 1448042 Organized Activities 515100 4397772 3800027 11365 586380 Student Housing & Dining 721310 37739503 37739503 Telecom & Other Services 611710 2837143 2346033 491110 Tuition and Fees 611310 281712789 281712789 4584381 3336588 625480 622313 358074542 20206613 -2740423 22947036 0 2193337 2193337 9074680 6641384 2433296 2433296 2433296 454455000 422006360 32448640 32448640 32448640 43725 1022412 126897 -83172 -83172 0 8141005 1679179 6461826 3411364 3050462 Athletic Advertising 541800 33592 33592 Tennis Club 713940 177222 177222 Winston-Salem Tennis Cup 711210 432330 432330 643144 516247009 354289852 1950930 66137444 1711709 1711709 90340496 90340496 833614 833614 0 5343594 1033985 3057410 1252199 0 165739485 140081533 15458698 10199254 13344911 10975385 1464063 905463 19659186 14290958 3965641 1402587 11836045 9734434 1298526 803085 0 404463 194559 209904 192599 7839 184760 0 1496917 1496917 11593933 6069328 5524605 15178795 9535974 4436755 1206066 5688634 3959288 271759 1457587 21689532 15028164 4258289 2403079 5005426 1496251 3474943 34232 0 11157693 9221897 1723631 212165 11388934 10468766 146888 773280 0 2048161 1678368 297320 72473 11982426 11982426 0 29909758 29909758 1991062 758278 1234168 -1384 Library, Books & Subscriptions 4896112 4817243 31896 46973 Non Capital Equip & Furnishing 3755712 2118395 1613032 24285 Auxiliary Enterprises 3356743 3348593 2668 5482 Miscellaneous 802105 490384 294530 17191 0 451348045 380087625 48949486 22310934 0 99519463 39697289 86076804 103474989 12448471 11562235 109883 54941 0 22764662 22069346 616537 645912 1892199 4923215 777377083 336998482 429263442 440378601 360803167 389273584 430124156 488235590 0 0 4044529 3664054 1447663313 1503979756 41784742 23429638 9827117 9688229 23193502 26568564 155545000 150500000 444955 403623 31604159 5904589 125000000 125000000 85231981 87474099 472631456 428968742 X 407222847 458170848 336724317 362247638 231084693 254592528 975031857 1075011014 1447663313 1503979756 X 64898964 31983416 3096777 X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false false false false true false false false false Part II-B, Line 1i - Other Activities Description 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. X X X false true 478654600 61455987 25360689 514749898 true X 630580382 18658098 61345143 17125125 9464087 1561785 682432627 586318598 34222614 39951119 12712804 15742738 1456407 630580382 609317298 4406986 5771784 10553138 21222672 1401660 586318598 531560575 37795637 70599050 10874429 17390859 2372676 609317298 504636725 4856562 53342647 17524560 11167739 2583060 531560575 0.32000 0.36000 0.32000 false true true 571500 14488205 15059705 54625994 409693865 152551840 311768019 168933024 112491543 56441481 111349608 70471261 40878347 17714887 1483838 16231049 440378601 488235590 Annuities payable 22765319 Bond premium 2176825 Other liabilities and deferral 47274326 Postretirement benefits 15257629 87474099 X 451821199 31983416 8798951 40782367 411038832 8863269 96344908 105208177 516247009 354572706 8798951 8798951 345773755 8863269 96711021 105574290 451348045 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 true true true true true true true false false false false false false false false true false true 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 true Ctr America & Caribbean 1 13 Program Service Study Abroad 123000 Ctr America & Caribbean 0 0 Program Service Services 12765 Europe & North Atlantic 0 0 Program Service Publication Services 7499 Europe & North Atlantic 0 0 Program Service Fundraising 7500 East Asia & Pacific 0 0 Program Service Research 8672 East Asia & Pacific 1 11 Program Service Study Abroad 749809 Europe & North Atlantic 5 33 Program Service Study Abroad 3020747 Europe & North Atlantic 0 0 Program Service Conference 7994 Europe & North Atlantic 0 0 Program Service Research 73217 Mid East & N Africa 0 0 Program Service Study Abroad 24297 Mid East & N Africa 0 0 Program Service Research 5000 Sub-Saharan Africa 0 0 Program Service Investing Asset Review 3044 North America 0 0 Program Service Conference 150 North America 0 0 Program Service Research 9605 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 76531 South America 0 0 Program Service Study Abroad 171346 South Asia 0 0 Program Service Conference 200 South Asia 0 0 Program Service Study Abroad 124262 Sub-Saharan Africa 0 0 Program Service Study Abroad 29726 Sub-Saharan Africa 1 5 Program Service Research 50497 East Asia & Pacific 0 0 Program Service Recruiting 7995 Europe & North Atlantic 0 0 Program Service Services 38980 Ctr America & Caribbean 0 0 Investment Book Value 3850000 Europe & North Atlantic 0 0 Investment Book Value 35148000 East Asia & Pacfic 0 0 Investment Book Value 101762000 Mid East & N Africa 0 0 Investment Book Value 6927000 North America 0 0 Investment Book Value 36211000 Russia & Ind Sts 0 0 Investment Book Value 2814000 South America 0 0 Investment Book Value 41802000 South Asia 0 0 Investment Book Value 5720000 Sub-Saharan Africa 0 0 Investment Book Value 18343000 South Asia 0 0 Program Service Research 6819 South America 0 0 Program Services Conference 898 South America 0 0 Program Services Recruiting 2700 Russia & the Newly Independent 0 0 Program Services Conference 970 Europe & North Atl. 0 0 Prog-Related Assets Book Value 2818748 Ctrl American & Carib. 0 0 Prog-Related Assets Book Value 1636497 7 57 1 5 8 62 4130997 257466638 261597635 Europe & N Atla Research sub 10313 Check Europe & N Atla Research Sub 21656 Check Europe & N Atla Research Sub 5039 Check Europe & N Atla Research Sub 5751 Check Europe & N Atla Research Sub 6500 Check North America Research Sub 7489 Check 6 Student research grant Europe & N Atlant 5 13534 Check/wire Student research grant South Asia 1 1000 Check/wire true false true true true false Part I, Line 2 - Grantmakers Explanation For Monitoring Use of Funds Outside US 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. X X X X X X X true PW Feats 3 E Read St Baltimore MD 21202 Consulting false 901278 Mary Tribble LL 400 N Church St Charlotte NC 28202 Consultant false 123910 Silent R Prod 2749 Spring Gar WinstonSa NC 27106 Consultant-Film false 118100 Verified Studio 3400 Croasdaile Durham NC 27705 Design Serv. false 103489 Lawson Drinkard PO Box 1645 Big Timber MT 59011 Consulting false 80884 Anne R Powell 61 Trowbridge Belmont MA 02478 Consultant false 58770 Joel W Bowers 1920 Pacific Av San Fran CA 94109 Campaign Video false 43000 Pentera Inc 8650 Commerce Indianapol IN 46268 Consultant false 22140 Marts & Lundy 1200 Wall St Lyndhurst NJ 07071 Consulting false 20700 Bluezoom Inc 230 S Elm St Greensboro NC 27401 Campaign Dev. false 14646 1486917 AL AK AZ AR CA CO CT DE FL GA HI ID IL IN IA KS LA ME MA MI MO MS MT NE NV NH NJ NM NC NY ND OH OK OR PA RI SC SD TN TX UT VT VA WA WV WI WY DC WFDD Events 893507 893507 2660 798 27770 Athletics Dinner/Pro AM 152490 111465 41025 24461 8520 14382 24389 1 20140 17440 2700 1038 7421 11547 3911 1066137 1022412 43725 28159 15941 26727 56070 126897 -83172 true Campus Crusade for Christ C/O Joe Hanes 4380 Bolsom Rd Pfafftown NC 27040 956006173 501(c)(3) 10000 0 Campus Ministry Contribution Carnegie Mellon University PO Box 371032 Pittsburg PA 15250 250969449 501(c)(3) 10983 0 Research Subcontract Catholic University of Amer 620 Michigan Ave Washington DC 20064 530196583 501(c)(3) 12782 0 Research Subcontract Clemson University PO BOx 345714 Clemson SC 29634 576000254 501(c)(3) 5404 0 Research Subcontract East Carolina University 1001 East 5th Street Greenville NC 27858 566000403 115 6517 0 Research Subcontract Forte Foundation 9600 Escarpment 745 PMB72 Austin TX 78749 611457145 501(c)(3) 13500 0 Contrib for Scholarship Opportunity Georgia Southern University 1332 Southern Drive Statesboro GA 30458 586002059 115 58716 0 Research Subcontract Habitat For Humanity 339 Witt Street WinstonSalem NC 27103 561448955 501(c)(3) 32500 0 Habitat House Sponsor Leadership Winston-Salem 501 N Cleveland Ave Suite 3 WinstonSalem NC 27101 581574887 501(c)(3) 6000 0 Sponsorship General Support Medical College of Wisconsin 8701 Watertown Plank Road Milwaukee WI 53226 390806261 501(c)(3) 27506 0 Research Subcontract Northeastern University 360 Huntington Avenue Boston MA 02115 041679980 501(c)(3) 5700 0 Research Subcontract Old Hickory Council BSA 6600 Silas Creek Parkway WinstonSalem NC 27106 560529985 501(c)(3) 12500 0 Charitable Contribution Plant HS Athletics Foundation 2415 S Himes Avenue Tampa FL 33629 261947755 501(c)(3) 30000 0 Charitable Contribution Reynolda House Inc PO Box 7287 WinstonSalem NC 27109 560810676 501(c)(3) 480000 0 Operations Support RiverRun International Film 305 W Fourth Street WinstonSalem NC 27101 200254183 501(c)(3) 10000 0 Sponsorship - General Support Slippery Rock University 1 Morrow Way Slippery Rock PA 16057 251513539 115 10663 0 Research Subcontract Univ of Kentucky Research Fdn 301 Peterson Service Building Lexington KY 48109 616033693 501(c)(3) 7963 0 Research Subcontract Univ of Tennessee Chattanooga 615 McCallie Ave Chattanooga TN 37403 626001636 115 8740 0 Research Subcontract University of Arizona 1111 North Cherry Ave Tucson AZ 85721 742652689 115 19713 0 Research Subcontract University of Michigan 3003 South State St Ann Arbor MI 48109 386006309 501(c)(3) 15088 0 Research Subcontract University of Pennsylvania 3451 Walnut Street Philadelphia PA 19104 231352685 501(c)(3) 48647 0 Research Subcontract University of Pittsburgh 116 Atwood Street Pittsburgh PA 15251 250965591 501(c)(3) 31883 0 Research Subcontract University of Vermont Botany Dept Marsh Sci Bldg Burlington VT 05405 030179440 115 6120 0 Research Subcontract University of Virginia 580 Massie Rd Charlottesville VA 22903 546001796 115 5606 0 Research Subcontract University of Washington Gerberding Hall Seattle WA 98195 916001537 115 22991 0 Research Subcontract Wake Forest Univ Health Scien Medical Center Blvd WinstonSalem NC 27157 223849199 501(c)(3) 612321 0 Research Subcontracts West Virginia University 886 Chestnut Ridge Rd Morgantown WV 26506 550665758 115 8418 0 Research Subcontract Willamette University 900 State Street Salem OR 97301 930386972 501(c)(3) 13047 0 Research Subcontract Winston Salem Business Inc 1080 W Fourth Street WinstonSalem NC 27101 510436665 501(c)(3) 10000 0 Charitable Contribution YMCA of Northwest NC 301 N Main St Ste 1900 WinstonSalem NC 27101 560530015 501(c)(3) 26532 0 Research Subcontract 30 0 Departmental Scholarships 1538 1852471 Grants for Student Travel 205 185261 General Tuition Scholarships 3291 71756257 Univ. charges Tuition discounts Tuition Concessions 163 5034451 Univ. charges Direct tuition payments Athletic Tuition Awards 286 10369754 Univ. charges Tuition discounts ROTC Scholarships 31 143905 Athletic Room & Board 197 2659913 Study Abroad Scholarships 301 1050475 1690593 Univ. charges Direct tuition payments Third Party Scholarships 610 31606 4401980 Univ. charges Direct tuition payments Grantmaker's Description of How Grants are Used Wake Forest University carefully selects qualified exempt organizations for its contributions and provides support for worthy projects and events in which the University has an interest.Grants provided to students are monitored either through use -for University tuition and fees- or by requiring substantiation from the students for research projects or scholastic travel grants.Research subcontracts are awarded to qualifying research institutes able to complete research projects and monitored during such projects as well as by reviewing and collating the end results of the work. X X X X X X X true true X X X X X X false true false false false false false true false false Ajay Patel PhD Prof, Sch of Busns 358625 9758 29725 44576 442684 Andrew R Chan VP Career Develop. 268838 100000 8716 73891 26517 477962 Anita M Conrad Asst Secretary 156948 3000 258 16250 14605 191061 B Hofler Milam Sr.VP & CFO 413070 25000 15888 123892 19590 597440 Blake D Morant Dean, Sch of Law 350017 7500 28861 29143 18829 434350 Craig O Thomas Former Asst Treas 196270 28413 90 61679 19213 305665 14746 J Reid Morgan Sec & Gen Cnsl 424097 26500 17811 28750 65686 562844 Jacquelyn S Fetrow PhD Dean, Wake Forest College 247832 20000 10474 21496 10378 310180 James J Dunn Chf Inv Officer 537493 148864 9720 95896 17357 809330 73864 Jeffrey Bzdelik Basketball Coach 1368364 24181 26861 24057 1443463 Jim B Grobe Football Coach 2167376 37937 33269 18340 2256922 John D McConnell MD ExecVP HlthAff 996889 23044 711356 21582 1752871 Lawrence D Hopkins MD Trustee 195191 95683 2688 9555 20927 324044 Mark A Petersen VP - Advancement 387659 50000 21503 84586 16857 560605 Mark E Welker PhD Former Interim Provost 208479 333 21583 17831 248226 Nathan O Hatch PhD President 807359 90000 121406 328524 60972 1408261 Rogan Kersh PhD Provost 452457 25000 11395 95775 19927 604554 Ronald D Wellman Director of Athletics 685207 46523 290381 17138 1039249 Steven S Reinemund Dean, School of Business 393702 6000 29125 16781 445608 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. A NC Capital Facs Fin Agcy 561592154 65818PHB8 2009-05-28 112612190 See Sch K, Part VI false false false B NC Capital Facs Fin Agcy 561592154 65818PEC9 2004-12-21 36605000 See Sch K, Part VI, Ser A false false false C NC Capital Facs Fin Agcy 561592154 65818PEB1 2004-12-21 30760000 See Sch K, Part VI, Ser B false false false A 113514794 5935159 1108136 66025058 40446411 2013 true false true true B 10315000 36605000 300161 36304839 2001 true false true true C 16550000 30760000 270000 30490000 1999 false true true true A false true true true false true 0.00219 0.00199 0.00418 false false false true A false false false true false false true true B false false true true false false false true C false false false true true See Part V 8.5000 false true false false true A true B true C true Part VI SCHEDULE K, PART IBond A,Col(a) Issuer's Name: North Carolina Capital Facilities Finance AgencyBond A,Col(f) The 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. Nathan Hatch Pres. Life ins X 274707 54941 false true true 54941 Not required 54629 Tuition Waiv Education Not required 79216 Scholarships Education IMG College See Part V 2691338 Licensing Royalties false IMG College See Part V 97388 Athl supplies,services false Brian A Kell See Part V 54462 Employee Wages false Blue CrossBlue Shield NC See Part V 1656967 Health Plan Administrator false Julia Hatch See Part V 50000 Employee Compensation false Muriel Hopkins See Part V 47600 Employee Wages false Angela J Lynde See Part V 35720 Employee Wages false Baker & Associates LLC See Part V 170025 Employee search false Smith Anderson Blount LLP See Part V 1318428 Legal services false Schedule L, Part V Supplemental Information Part IIIThe University has an employee dependent tuition remission benefit plan, which is available to all employees and their eligible dependents. Various listed persons have 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. X 2 16365 Appraisal X 117 120950 Sale proceeds X 597 13153352 Market Value X 1 140000 Selling price X 107 66011 Retail X 13 1785 Appraisal X Computer Equip 52 52930 FMV X Furniture 2 10295 FMV X Steinway pianos 2 75604 FMV 8 false true true Part I, Line 32, Hire and Use of Third Parties Part I, Line 32b. The organization uses Charitable Auto Resources(CARS) to process and sell vehicle donations to its radio station. 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. 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. 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 72178 61524 NA Verger Fund I LLC PO Box 7354 Winston Salem NC 27109 Investment holding DE NA Wake Forest University Spain SL C/Toro 84-90 Oficina Izquierda Salamanca Salamanca SP 37120 study abroad educ. activities SP 33485 NA 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 true Wake Forest University Health Sciences Medical Center Blvd WinstonSalem NC 27157 223849199 Medical Education, research and patient care NC 501(c)(3) Line 2 Wake Forest University true Wake Forest University Development Fndn PO Box 7201 WinstonSalem NC 27109 562038194 Management/Sale of charitable real property donations NC 501(c)(3) Line 11a, I Wake Forest University true Reynolda House Inc PO Box 7287 WinstonSalem NC 27109 560810676 Museum of American Art NC 501(c)(3) Line 7 Wake Forest University true Wake Forest Univ Baptist Med Center Medical Center Blvd WinstonSalem NC 27157 510190238 Supports WFU, WFU Health Sciences, NC Baptist Hospital NC 501(c)(3) Line 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 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 14245424 481994064 false false 1.00000 WFU - 5 CRUT c/o Wake Forest University WinstonSalem NC 27109 912129902 Investment NC WFU T 411329 0.59140 false WFU - 6 CRUT c/o Wake Forest University WinstonSalem NC 27109 582175582 Investment NC WFU T 34587 0.66250 false WFU - 6 CRUT c/o Wake Forest University WinstonSalem NC 27109 566473036 Investment NC WFU T 163846 0.66260 false WFU - 6 CRUT c/o Wake Forest University WinstonSalem NC 27109 911832851 Investment NC WFU T 374887 0.66260 false WFU - 6375 CRUT c/o Wake Forest University WinstonSalem NC 27109 566459446 Investment NC WFU T 92302 0.57290 false WFU - 6 CRUT c/o Wake Forest University WinstonSalem NC 27109 900237204 Investment NC WFU T 199119 0.66260 false WFU - 5 CRUT c/o Wake Forest University WinstonSalem NC 27109 582045283 Investment NC WFU T 209681 0.50680 false WFU - 79 CRAT c/o Wake Forest University WinstonSalem NC 27109 566555544 Investment NC WFU T 409810 0.66730 false WFU - 6 CRUT c/o Wake Forest University WinstonSalem NC 27019 566476872 Investment NC WFU T 125572 0.54040 false WFU - 5 NICRUT c/o Wake Forest University WinstonSalem NC 27109 466427408 Investment NC WFU T 157592 1.00000 false WFU - 5 CRUT c/o Wake Forest University WinstonSalem NC 27109 566554614 Investment NC WFU T 734008 0.79300 false WFU - 5 CRAT c/o Wake Forest University WinstonSalem NC 27109 566537111 Investment NC WFU T 1343616 0.81460 false WFU - 8 CRUT c/o Wake Forest University WinstonSalem NC 27109 912131579 Investment NC WFU T 63413 0.74790 false WFU - 5 CRUT c/o Wake Forest University WinstonSalem NC 27109 566562122 Investment NC WFU T 52300 0.64820 false WFU - 5 CRUT c/o Wake Forest University WinstonSalem NC 27109 456782977 Investment NC WFU T 183437 0.51270 false false true true true false false false false false true false true false true true true true true true Wake Forest University Foundation o 81731 FMV Wake Forest University Health Sciences c 1000000 Cash Transfer Wake Forest University Health Sciences p 2225563 Cash Transfer Wake Forest University Health Sciences q 7695934 Cash Transfer Wake Forest University Development Fndn o 71351 FMV Reynolda House Inc b 480000 GeneralSupport Verger Capital Management LLC d 2748898 Cash value Verger Capital Fund LLC b 434870382 cash value Verger Capital Fund LLC d 597973 cash value Verger Capital Fund LLC r 26057628 cash value Verger Capital Fund LLC s 10312178 cash value 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.