Wake Forest University Health Sciences
- Assets
- $4.1b
- Revenue
- $629.8m
- Investments
- $1.1b
- Employees
- 2,133
- Location
- Winstonsalem, NC
- Founding
- 09/2002
- Data as of
- 12/2021
- EIN
- 22-3849199
Organization Overview
Wake Forest University Health Sciences is located in Winstonsalem, NC. The organization was established in 2002. According to its NTEE Classification (B50) the organization is classified as: Graduate & Professional Schools, under the broad grouping of Education and related organizations. As of 12/2021, Wake Forest University Health Sciences employed 2,133 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. Wake Forest University Health Sciences is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Wake Forest University Health Sciences generated $629.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (4.5%) each year. All expenses for the organization totaled $633.5m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (4.7%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Wake Forest University Health Sciences has awarded 102 individual grants totaling $7,611,915. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO IMPROVE HEALTH, ELEVATE HOPE AND ADVANCE HEALING FOR ALL.
Describe the Organization's Program Activity:
MEDICAL RESEARCH, GENERAL/OTHER: RESEARCH COMPRISED OF BASIC SCIENCE CLINICAL RESEARCH AND POPULATION BASED STUDIES AND IS CENTERED ON THE ACQUISITION AND ADVANCEMENT OF SCIENTIFIC KNOWLEDGE AND NEW TECHNOLOGY AND THEIR TRANSFER TO INDUSTRY AND THE PATIENT IN ORDER TO PREVENT AND TREAT DISEASE AND PROMOTE HEALTH (734 GRANTS).
PATIENT CARE AND MEDICAL EXPENSES IN PROVIDING SERVICES TO APPROXIMATELY 965,000 PATIENT ENCOUNTERS DURING THE SHORT TAX YEAR.
PROFESSIONAL EDUCATION: INSTRUCTION OF 2,006 MEDICAL, GRADUATE, PHYSICIAN ASSISTANT, CRNA, AND BIOMEDICAL ENGINEERING STUDENTS. SCHOLARSHIPS AND AID PROVIDED TO 1,392 STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Julie Ann Freischlag MD Director, Ceo, Dean | OfficerTrustee | 15.7 | $3,375,350 |
Kevin P High MD Pres, Health System | Officer | 5.8 | $1,442,392 |
Edward H Kincaid MD Department Chair | 40 | $1,411,470 | |
Charles Branch MD Evp, Hlth Sys Affr | 38 | $1,339,095 | |
L Andrew Koman MD Department Chair | 38 | $1,238,220 | |
Anthony Atala MD Department Chair | 39.5 | $1,226,451 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Nthrive Revenue Systems Llc Coding, Billing & Collection Services | 12/30/21 | $8,086,099 |
Frank L Blum Construction Company Construction Contract Services | 12/30/21 | $9,822,921 |
Hks Inc Architectural Services | 12/30/21 | $3,666,595 |
Bright Horizons Child Care Services | 12/30/21 | $2,019,666 |
Cassidy Turley Fiduciary Inc Real Estate Consulting Services | 12/30/21 | $2,770,105 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $405,407 |
| Related organizations | $10,830,983 |
| Government grants | $99,351,637 |
| All other contributions, gifts, grants, and similar amounts not included above | $19,741,276 |
| Noncash contributions included in lines 1a–1f | $165,049 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $130,329,303 |
| Total Program Service Revenue | $453,785,871 |
| Investment income | $23,859,718 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $346,972 |
| Net Rental Income | $485,301 |
| Net Gain/Loss on Asset Sales | $20,664,461 |
| Net Income from Fundraising Events | -$45,901 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $629,827,374 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $14,418,433 |
| Grants and other assistance to domestic individuals. | $12,803,196 |
| Grants and other assistance to Foreign Orgs/Individuals | $73,784 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $12,870,594 |
| Compensation of current officers, directors, key employees. | $6,435,297 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $348,829,103 |
| Pension plan accruals and contributions | $22,122,138 |
| Other employee benefits | $38,896,330 |
| Payroll taxes | $19,737,596 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,297,132 |
| Fees for services: Accounting | $281,078 |
| Fees for services: Lobbying | $126,324 |
| Fees for services: Fundraising | $6,047 |
| Fees for services: Investment Management | $3,564,644 |
| Fees for services: Other | $23,965,124 |
| Advertising and promotion | $162,563 |
| Office expenses | $5,738,669 |
| Information technology | $1,768,786 |
| Royalties | $103,154 |
| Occupancy | $29,461,475 |
| Travel | $1,150,651 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $609,587 |
| Interest | $4,008,249 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $16,959,365 |
| Insurance | $2,349,114 |
| All other expenses | $6,902 |
| Total functional expenses | $633,532,610 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $73,622,386 |
| Accounts receivable, net | $2,210,517,421 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $304,381 |
| Inventories for sale or use | $2,610,885 |
| Prepaid expenses and deferred charges | $6,258,171 |
| Net Land, buildings, and equipment | $362,990,661 |
| Investments—publicly traded securities | $3,630,000 |
| Investments—other securities | $1,108,691,731 |
| Investments—program-related | $13,997,460 |
| Intangible assets | $1,691,044 |
| Other assets | $279,295,647 |
| Total assets | $4,063,609,787 |
| Accounts payable and accrued expenses | $2,645,115,016 |
| Grants payable | $0 |
| Deferred revenue | $67,723,176 |
| Tax-exempt bond liabilities | $127,538,990 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $44,755,255 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $235,542,996 |
| Total liabilities | $3,120,675,433 |
| Net assets without donor restrictions | $633,375,796 |
| Net assets with donor restrictions | $309,558,558 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $4,063,609,787 |
Grants Awarded
Over the last fiscal year, Wake Forest University Health Sciences has awarded $2,010,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Winstonsalem, NC PURPOSE: ACADEMIC ENRICHMENT FUND | $2,000,000 |
Lexington, NC PURPOSE: SUPPORTING THE OPERATIONS OF THE FOUNDATION'S MISSION | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Wake Forest University Health Sciences has recieved totaling $7,500.
| Awarding Organization | Amount |
|---|---|
Dudley And Constance Godfrey Foundation Inc Milwaukee, WI PURPOSE: CHARITABLE | $7,500 |
Endowment Analysis
| Beg. Balance | $786,210,017 |
| Earnings | $35,279,561 |
| Net Contributions | $5,121,186 |
| Grants | $15,657,319 |
| Ending Balance | $810,953,445 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Wake Forest University Health Sciences Winstonsalem, NC | $4,063,609,787 | $629,827,374 |
Edward Via Virginia College Of Osteopathic Medicine Blacksburg, VA | $145,957,395 | $234,038,935 |
The Morehouse School Of Medicine Inc Atlanta, GA | $361,935,866 | $278,498,387 |
Meharry Medical College Nashville, TN | $412,525,133 | $200,654,112 |
Regent University Virginia Bch, VA | $198,531,120 | $146,100,069 |
Augusta University Research Institute Inc Augusta, GA | $21,382,894 | $80,266,513 |
Columbia International University Columbia, SC | $112,576,601 | $51,477,701 |
Wake Forest University Health Sciences Group Return Winstonsalem, NC | $294,523,544 | $56,430,791 |
Southern College Of Optometry Memphis, TN | $90,101,083 | $28,598,801 |
Johnson University Knoxville, TN | $236,951,483 | $27,596,664 |
Baptist Memorial College Of Health Sciences Inc Memphis, TN | $55,747,053 | $20,446,298 |
Sherman College Of Straight Chiropractic Inc Spartanburg, SC | $45,133,899 | $16,948,617 |