Wake Forest University is located in WinstonSalem, NC. The organization was established in 2001. According to its NTEE Classification (B43) the organization is classified as: Universities, under the broad grouping of Education and related organizations. As of 06/2022, Wake Forest University employed 5,546 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wake Forest University 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 06/2020, Wake Forest University generated $583.4m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.2% each year. All expenses for the organization totaled $577.6m during the year ending 06/2020. While expenses have increased by 3.2% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Wake Forest University has awarded 262 individual grants totaling $21,687,432. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
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, A SCHOOL OF PROFESSIONAL STUDIES, AND FOUR PROFESSIONAL SCHOOLS.
Describe the Organization's Program Activity:
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FOUNDED IN 1834, WAKE FOREST UNIVERSITY IS A PRIVATE, COEDUCATIONAL COLLEGIATE UNIVERSITY BASED IN WINSTON-SALEM, NORTH CAROLINA. ONE OF THE LEADING INSTITUTIONS OF ITS KIND, WAKE FOREST BLENDS THE INTIMACY OF A LIBERAL ARTS COLLEGE WITH THE ACADEMIC VITALITY OF A RESEARCH UNIVERSITY. AT THE HEART OF WAKE FOREST IS THE TEACHER-SCHOLAR IDEAL. PROFESSORS ARE COMMITTED TO PERSONALIZED TEACHING AND TO THEIR STUDENTS' INDIVIDUAL DEVELOPMENT. GUIDED BY THE MOTTO PRO HUMANITATE (FOR HUMANITY), WAKE FOREST IS DEDICATED TO AN ETHICALLY INFORMED EDUCATION IN A CLIMATE THAT VALUES PERSONAL GROWTH, COMMUNITY INTERACTION, AND INDIVIDUAL HONOR.THE UNIVERSITY CONSISTS OF WAKE FOREST COLLEGE, THE UNDERGRADUATE ARTS AND SCIENCES DIVISION THAT HONORS THE FULL INSTITUTION'S FORMER NAME; THE GRADUATE SCHOOL OF ARTS AND SCIENCES; THE SCHOOL OF LAW; THE SCHOOL OF MEDICINE; THE SCHOOL OF BUSINESS, WHICH PROVIDES UNDERGRADUATE AND GRADUATE STUDY; THE SCHOOL OF DIVINITY; AND THE SCHOOL OF PROFESSIONAL STUDIES.IN FALL 2021, WAKE FOREST'S ENROLLMENT WAS COMPRISED OF 5,472 UNDERGRADUATES AND 2,647 GRADUATE STUDENTS FOR A TOTAL OF 8,119.UNDERGRADUATES COME FROM 47 U.S. STATES; WASHINGTON, D.C.; OTHER U.S. TERRITORIES AND POSSESSIONS; AND APPROXIMATELY 64 INTERNATIONAL COUNTRIES. WOMEN REPRESENT 56% OF THE UNDERGRADUATE POPULATION AND INTERNATIONAL STUDENTS ARE 9.8% OF THE TOTAL. WAKE FOREST HAS BEEN RANKED AMONG THE TOP 30 NATIONAL UNIVERSITIES BY U.S. NEWS & WORLD REPORT FOR 27 CONSECUTIVE YEARS. CLASSIFIED AS A REGIONAL UNIVERSITY WHEN THE U.S. NEWS SURVEY BEGAN IN THE 1980S, WAKE FOREST EXPANDED ITS ACADEMIC PROFILE AND QUALIFIED FOR NATIONAL UNIVERSITY STATUS, WHICH GENERALLY DOVETAILS WITH CARNEGIE FOUNDATION CLASSIFICATION AS A RESEARCH INSTITUTION, IN THE MID-1990S. MORE THAN 600 INSTITUTIONS HAVE BEEN CLASSIFIED AS TOP REGIONAL UNIVERSITIES AT SOME POINT IN U.S. NEWS RANKINGS HISTORY. WAKE FOREST IS THE ONLY ONE OF THEM TO ADVANCE TO DISTINCTION AS A TOP-30 NATIONAL UNIVERSITY. ADDITIONALLY, WAKE FOREST HAS BEEN RANKED IN THE TOP 25 AMONG BEST VALUE UNIVERSITIES BY U.S. NEWS IN EACH OF THE PAST SIX YEARS. IN THE SEPTEMBER 2021 U.S. NEWS SURVEY, WAKE FOREST IS ONE OF ONLY 14 NATIONAL UNIVERSITIES (OUT OF 392 TOTAL) RANKING IN THE TOP 30 IN ALL OF THE FOLLOWING: GENERAL QUALITY (28TH); VALUE (24TH) AND UNDERGRADUATE TEACHING QUALITY (21ST). IN THE FALL 2021 SEMESTER, 99% OF ALL UNDERGRADUATE CLASSES HAD FEWER THAN 50 STUDENTS. THAT IS THE HIGHEST RATE OF ANY TOP-50 NATIONAL UNIVERSITY. THE AVERAGE STUDENT-FACULTY RATIO IN FALL 2021 WAS 10.6 TO 1. THE CLASS SIZE IS CONSISTENT WITH WAKE FOREST'S EDUCATIONAL MODEL, KNOWN AS THE ENGAGED LIBERAL ARTS, WHICH SEEKS TO MAKE STUDENTS ACTIVE PARTICIPANTS IN THEIR LEARNING. ITS CORE TENETS INCLUDE THE MERGER OF CLASSROOM LEARNING AND REAL-WORLD EXPERIENCE; THE MELDING OF MULTIPLE ACADEMIC DISCIPLINES; AND VARIETY OF INSTRUCTIONAL METHODS BEYOND THE TRADITIONAL LECTURE FORMAT. WAKE FOREST'S FOOTPRINT EXTENDS WORLDWIDE AND MORE THAN HALF OF ITS STUDENTS PARTICIPATE IN STUDY ABROAD PROGRAMS. WAKE FOREST IS ONE OF ONLY TWO DOCTORAL INSTITUTIONS RANKED AMONG IN THE TOP 10 IN THE OPEN DOORS REPORT'S NATIONAL RANKINGS IN EVERY YEAR FROM 2002-03 THROUGH 2019-20, THE FINAL ACADEMIC YEAR IN WHICH INTERNATIONAL STUDY WAS FULLY OPERATIONAL BEFORE THE COVID-19 PANDEMIC.WAKE FOREST IS ONE OF A SELECT GROUP OF UNIVERSITIES TO OWN AND OPERATE THREE ACADEMIC-RESIDENTIAL HOUSES OVERSEAS. THEY ARE CASA ARTOM, LOCATED ON THE GRAND CANAL IN VENICE; FLOW HOUSE IN VIENNA; AND WORRELL HOUSE IN LONDON. SINCE THE EARLY 1970S, MORE THAN 3,200 GRADUATES HAVE LIVED AND STUDIED AT ONE OR MORE OF THE HOUSES. WAKE FOREST OPERATES MORE THAN 50 OF ITS OWN INTERNATIONAL-STUDY PROGRAMS AND OFFERS STUDENTS ACCESS TO APPROXIMATELY 400 MORE THROUGH VARIOUS AFFILIATION AGREEMENTS. AS OF NOVEMBER 2021, THOSE EXPERIENCES WERE AVAILABLE IN 176 CITIES IN 75 FOREIGN COUNTRIES. ALSO UNDER THE UMBRELLA OF STUDY AWAY OPPORTUNITIES IS WAKE WASHINGTON, A UNIVERSITY-RUN PROGRAM IN WHICH STUDENTS COMBINE CLASSROOM INSTRUCTION WITH INTERNSHIPS. THEY WORK FOUR DAYS A WEEK FOR A VARIETY OF GOVERNMENT AND NON-GOVERNMENT ORGANIZATIONS AND AGENCIES. GRADUATE STUDIESMORE THAN 40 GRADUATE PROGRAMS ARE OFFERED IN THE GRADUATE SCHOOL OF ARTS AND SCIENCES AND THE SCHOOLS OF BUSINESS, DIVINITY, LAW AND MEDICINE. GENERAL SUBJECT AREAS INCLUDE BIOMEDICAL SCIENCE; BUSINESS; COMPUTER AND INFORMATION SYSTEMS; COUNSELING; EDUCATION; HUMANITIES; INTERDISCIPLINARY STUDIES; LAW; LIBERAL ARTS STUDIES; LIFE AND PHYSICAL SCIENCES; MATHEMATICS AND STATISTICS; MEDICINE; SOCIAL AND BEHAVIORAL SCIENCES; THEOLOGY; AND VISUAL AND PERFORMING ARTS. BUSINESS: THE SCHOOL OF BUSINESS OFFERS HIGHLY RATED GRADUATE PROGRAMS IN ACCOUNTANCY, BUSINESS ADMINISTRATION, MANAGEMENT AND ANALYTICS. OVER THE PAST 20 YEARS, WAKE FOREST LEADS THE NATION IN CPA EXAM PASSAGE RATE AND HAS PLACED IN THE TOP FIVE IN 19 OF THOSE 20 YEARS. THE PART-TIME MBA PROGRAM WAS RANKED FIRST IN NORTH CAROLINA AND 22ND NATIONALLY IN THE U.S. NEWS RANKINGS RELEASED IN MARCH OF 2021.DIVINITY: ALTHOUGH LESS THAN 25 YEARS OLD, THE WAKE FOREST SCHOOL OF DIVINITY IS A NATIONAL LEADER. IT IS ONE OF A SELECT FEW INSTITUTIONS TO MAKE THE LIST OF SEMINARIES THAT CHANGE THE WORLD IN EVERY YEAR THE RANKINGS WERE COMPILED BY THE CENTER FOR FAITH AND SERVICE. THE SCHOOL ASPIRES FOR ITS GRADUATES TO BE AGENTS OF JUSTICE, RECONCILIATION AND COMPASSION AND ARCHITECTS OF EQUITY, HOPE AND HEALING. LAW: THE SCHOOL OF LAW IS AMONG NATIONAL LEADERS IN VALUE, EMPLOYMENT RATE, BAR-PASSAGE RATE AND SEVERAL PRACTICE AREAS ACCORDING TO VARIOUS SOURCES, INCLUDING THE NATIONAL JURIST AND U.S. NEWS. GRAD SCHOOL: THE GRADUATE SCHOOL OF ARTS AND SCIENCES HOUSES 30 MASTERS AND DOCTORAL DISCIPLINARY OR INTERDISCIPLINARY PROGRAMS AND SPONSORS 12 PROGRAMS JOINTLY WITH THE SCHOOLS OF MEDICINE, BUSINESS, DIVINITY AND THE UNDERGRADUATE COLLEGE.WAKE FOREST CONSIDERS ACCESS AND OPPORTUNITY VITAL TO THE MISSION ARTICULATED BY ITS MOTTO, "PRO HUMANITATE." APPROXIMATELY 53% OF THE GRADUATE AND UNDERGRADUATE STUDENT POPULATION RECEIVED FINANCIAL AID AWARDS.
WAKE FOREST IS CLASSIFIED AS A HIGH RESEARCH ACTIVITY INSTITUTION, THE SECOND-HIGHEST LEVEL, BY THE CARNEGIE FOUNDATION FOR THE ADVANCEMENT OF TEACHING. WAKE FOREST UNIVERSITY HAS GRANTS AND INTERNALLY FUNDED RESEARCH PURSUANT TO BASIC SCIENCE AND TECHNOLOGY. WAKE FOREST UNIVERSITY MANAGES RESEARCH PROJECTS IN BIOLOGY, CHEMISTRY, PHYSICS, MATHEMATICS, COMPUTER SCIENCE, HEALTH & EXERCISE SCIENCE, DIVINITY AND BUSINESS. THE Z. SMITH REYNOLDS LIBRARY AND THE PROFESSIONAL SCHOOL LIBRARIES TOGETHER HOUSE 900,000 PHYSICAL BOOKS AND 971,000 EBOOKS, AS WELL AS ACCESS TO A MULTITUDE OF OTHER WEB BASED RESOURCES. THE CAMPUS LIBRARIES PROVIDE RESOURCES FOR BOTH STUDENT AND FACULTY RESEARCHERS. AN UNDERGRADUATE RESEARCH DAY IS HELD ANNUALLY, IN WHICH STUDENTS DISPLAY AND EXPLAIN THE RESULTS OF THEIR FACULTY-GUIDED RESEARCH, WHICH OFTEN TAKES PLACE THE PREVIOUS SUMMER. IN MOST RECENT YEARS, APPROXIMATELY ONE OF EVERY 11 GRADUATES HAS MADE AT LEAST ONE PRESENTATION AT THE EVENT, INFORMALLY KNOWN AS A CELEBRATION OF COLLABORATION.
RESIDENCE HALLS & DINING:IN THE INTEREST OF BUILDING COMMUNITY, WAKE FOREST REQUIRES ALL UNDERGRADUATES TO LIVE ON CAMPUS FOR AT LEAST THREE YEARS. THE UNIVERSITY HAS DONE ITS PART IN THIS ENDEAVOR BY ACQUIRING, BUILDING OR SUBSTANTIALLY RENOVATING ALL RESIDENCE HALLS IN THE PAST DECADE. THE DIVISION OF RESIDENCE LIFE AND HOUSING (RLH) ASPIRES TO HELP STUDENTS: FIND AN AUTHENTIC SENSE OF BELONGING; SUCCESSFULLY NAVIGATE CITIZENSHIP WITHIN DIVERSE COMMUNITIES; DEVELOP THE SKILLS, KNOWLEDGE AND PERSPECTIVE TO MAINTAIN A HEALTHY, BALANCED LIFE; AND EXHIBIT RESPONSIBILITY FOR SELF, OTHERS, PROPERTY AND THE ENVIRONMENT.RLH MAINTAINS 20 FACILITIES. THEY ARE EQUIPPED WITH HIGH-SPEED INTERNET SERVICE AND INCLUDE COMMON AREAS SUITED TO GROUP STUDY. THE DIVISION OF DINING SERVICES INCLUDES 17 LOCATIONS. THE MAIN DINING HALL, AFFECTIONALLY KNOWN AS THE PIT, SERVES CAFETERIA-STYLE FOOD WITH SEVERAL DISTINCT AREAS, INCLUDING VEGAN, GLUTEN-FREE AND OTHER DIET-SPECIFIC OPTIONS. ATHLETICS:WAKE FOREST FIELDS 18 INTERCOLLEGIATE ATHLETICS TEAMS NINE FOR MEN, NINE FOR WOMEN IN NCAA'S DIVISION I AND THE ATLANTIC COAST CONFERENCE, OF WHICH IT IS A CHARTER MEMBER. THE UNIVERSITY'S UNDERGRADUATE ENROLLMENT IS THE SMALLEST OF ANY SCHOOL IN THE FIVE MOST FINANCIALLY AND ATHLETICALLY POTENT DIVISION I CONFERENCES, BUT THAT SIZE IS A STRENGTH RATHER THAN A WEAKNESS. THE DISTINCTION HELPS THE UNIVERSITY ATTRACT STUDENT-ATHLETES WHO EXCEL IN COMPETITION AND ACADEMICS. ACROSS ALL SPORTS, WAKE FOREST POSTED A 96% NCAA-MEASURED GRADUATION REPORT IN A REPORT RELEASED IN 2022. THE INSTITUTIONAL-LEVEL REPORT MEASURED GRADUATION RATES OF 14 WAKE FOREST SPORT COHORTS, CONSIDERING TEAMS IN INDOOR TRACK, OUTDOOR TRACK AND CROSS COUNTRY AS ONE ENTITY PER GENDER. OF THOSE 14 GROUPS, NINE POSTED PERFECT SCORES OF 100. DEMON DEACON TEAMS HAVE WON NINE NCAA TEAM CHAMPIONSHIPS IN FIVE UNIQUE SPORTS. MEN'S GOLF AND FIELD HOCKEY HAVE WON THREE EACH AND MEN'S TENNIS, MEN'S SOCCER AND BASEBALL HAVE ONE TITLE APIECE.
CAMPUS LIFE:APPROXIMATELY 200 STUDENT ORGANIZATIONS ARE ACTIVE AT WAKE FOREST, PROVIDING EXTRACURRICULAR LEARNING AND SERVICE OPPORTUNITIES FOR THEIR MEMBERS AND ANCILLARY BENEFIT TO THE CAMPUS AND LOCAL COMMUNITIES. THEY ARE CENTERED AROUND ACADEMIC AND PROFESSIONAL DEVELOPMENT; BUSINESS DEVELOPMENT; RECREATIONAL-SPORTS PARTICIPATION; FRATERNITY AND SORORITY LIFE; CULTURAL AFFILIATION AND AFFINITY; MEDIA; FINE-ARTS PERFORMANCE AND EXHIBITION; STUDENT GOVERNANCE; AND OTHER FOCAL POINTS. IN ADDITION TO STUDENT-RUN ORGANIZATIONS, THE OFFICE OF CIVIC AND COMMUNITY ENGAGEMENT PARTNERS WITH APPROXIMATELY 120 PROJECTS AND INSTITUTIONS ACROSS POLICY AREAS INCLUDING AGING; POVERTY; HEALTH; FOOD ACCESS; VARIOUS CHILDREN'S MATTERS; EDUCATION; AND ENVIRONMENTAL SUSTAINABILITY. IN 2017, THE UNIVERSITY OPENED THE RENOVATED REYNOLDS GYM AND THE NEW SUTTON CENTER, COLLECTIVELY KNOWN AS THE WAKE FOREST WELLBEING CENTER. THE PROJECT IMMEDIATELY INCREASED SPACE DEDICATED TO PERSONAL AND GROUP FITNESS; DOUBLED THE SIZE OF THE STUDENT HEALTH CENTER; AND LED TO A 124% INCREASE IN GYM USAGE BETWEEN ITS OPENING AND THE ONSET OF THE COVID-19 PANDEMIC. A ROBUST CAMPUS RECREATION DEPARTMENT OVERSEES 37 CLUB SPORTS AND 37 INTRAMURAL LEAGUES AND COMPETITIONS. NEARLY EVERY LATE AFTERNOON AND EARLY EVENING FEATURES CONTESTS IN SEVERAL DISTINCT SPORTS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Matthew A King Board Chair | Trustee | 15 | $0 |
Herman E Eure Board Vice Chair | Trustee | 6 | $0 |
Cantey M Ergen Board Vice Chair | Trustee | 6 | $0 |
Diana M Adams Committee Chair | Trustee | 4 | $0 |
Shelmer D Blackburn Jr Trustee | Trustee | 3 | $0 |
Jeanne Whitman Bobbitt Committee Chair | Trustee | 4 | $0 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Aramark Campus Services Food Service | 6/29/22 | $25,677,396 |
Frank L Blum Construction Company Construction | 6/29/22 | $22,465,653 |
Budd Group Janitorial/landscaping | 6/29/22 | $5,717,743 |
Ncs Pearson Inc Testing/counseling | 6/29/22 | $4,394,807 |
Ebsco Subscription Service Subscription | 6/29/22 | $3,267,534 |
Statement of Revenue | |
---|---|
Total Revenue from Contributions, Gifts, Grants & Similar | $86,034,682 |
Investment income | $15,126,869 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $3,121,663 |
Net Rental Income | $3,675,874 |
Net Gain/Loss on Asset Sales | $4,526,173 |
Net Income from Fundraising Events | $4,061 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $4,545,058 |
Miscellaneous Revenue | $0 |
Total Revenue | $583,443,727 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic individuals. | $120,797,921 |
Grants and other assistance to Foreign Orgs/Individuals | $1,141,543 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $7,398,476 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $213,619,057 |
Pension plan accruals and contributions | $16,568,861 |
Other employee benefits | $26,687,638 |
Payroll taxes | $13,963,842 |
Fees for services: Management | $0 |
Fees for services: Legal | $6,563,755 |
Fees for services: Accounting | $271,400 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $7,595,583 |
Fees for services: Other | $24,818,361 |
Advertising and promotion | $4,184,381 |
Office expenses | $10,864,381 |
Information technology | $1,112,199 |
Royalties | $0 |
Occupancy | $8,174,842 |
Travel | $8,949,546 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $2,075,623 |
Interest | $15,778,604 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $49,334,624 |
Insurance | $1,775,354 |
All other expenses | $0 |
Total functional expenses | $577,597,318 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $0 |
Savings and temporary cash investments | $53,553,830 |
Pledges and grants receivable | $120,904,564 |
Accounts receivable, net | $22,317,614 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $19,106,958 |
Inventories for sale or use | $736,642 |
Prepaid expenses and deferred charges | $4,872,645 |
Investments—publicly traded securities | $237,999,279 |
Investments—other securities | $935,474,894 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $43,812,070 |
Total assets | $2,139,822,388 |
Accounts payable and accrued expenses | $35,898,493 |
Grants payable | $4,533,130 |
Deferred revenue | $24,026,032 |
Tax-exempt bond liabilities | $254,480,295 |
Escrow or custodial account liability | $1,482,075 |
Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
Secured mortgages and notes payable | $113,237,920 |
Unsecured mortgages and notes payable | $125,000,000 |
Other liabilities | $138,995,176 |
Total liabilities | $697,653,121 |
Net assets without donor restrictions | $0 |
Net assets with donor restrictions | $0 |
Capital stock or trust principal, or current funds | $0 |
Paid-in or capital surplus, or land, building, or equipment fund | $0 |
Total liabilities and net assets/fund balances | $1,442,169,267 |
Over the last fiscal year, Wake Forest University has awarded $4,812,877 in support to 49 organizations.
Grant Recipient | Amount |
---|---|
REYNOLDA HOUSE INC PURPOSE: Operations Support | $884,000 |
UNITED WAY OF FORSYTH COUNTY PURPOSE: Charitable Contribution | $7,000 |
DUKE UNIVERSITY PURPOSE: Research subcontract | $36,803 |
LEADERSHIP WINSTON-SALEM PURPOSE: Sponsorship General Support | $10,000 |
UNIVERSITY OF TENNESSEE PURPOSE: Research Subcontract | $25,000 |
UNC CHAPEL HILL PURPOSE: Research subcontract | $83,845 |