Wake Forest University Foundation
- Assets
- $9.2m
- Revenue
- $15.3k
- Investments
- $0.0
- Employees
- 0
- Location
- WinstonSalem, NC
- Founding
- 07/1998
- Data as of
- 06/2020
- EIN
- 56-2038193
Organization Overview
Wake Forest University Foundation is located in WinstonSalem, NC. The organization was established in 1998. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wake Forest University Foundation 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 Foundation generated $15.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (5.3%) each year. All expenses for the organization totaled $313.5k during the year ending 06/2020. As we would expect to see with falling revenues, expenses have declined by (4.1%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION OPERATES AS A SUPPORTING ORGANIZATION OF WAKE FOREST UNIVERSITY. IT HOLDS, IMPROVES, LEASES AND MANAGES LONG-TERM PROPERTIES AND ENDOWMENTS AND SUPPORTS WFU THROUGH SUCH ACTIVITIES CONDUCTED BOTH BY ITSELF AND THROUGH SUBSIDIARY ORGANIZATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION HOLDS, LEASES, MANAGES, AND INVESTS INCOME FROM, THROUGH ITS DISREGARDED SUBSIDIARY ENTITIES, CERTAIN REAL PROPERTIES ON BEHALF OF ITS PARENT ORGANIZATION, WAKE FOREST UNIVERSITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
B Hofler Milam VP & Treasurer | Officer | 0.2 | $0 |
Nathan O Hatch PHD President | Officer | 0.2 | $0 |
J Reid Morgan Secretary | Officer | 0.2 | $0 |
Anita M Conrad Asst. Secretary | Officer | 0.4 | $0 |
Frank B Holding Chair | Trustee | 0.2 | $0 |
Jorge Rodriguez Vice Chair | Trustee | 0.2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$6,748 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $15,255 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $36,922 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $85,803 |
| Insurance | $11,564 |
| All other expenses | $0 |
| Total functional expenses | $313,534 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $77,782 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,516 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $2,729 |
| Prepaid expenses and deferred charges | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $9,248,798 |
| Accounts payable and accrued expenses | $7,146 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,861,817 |
| Total liabilities | $3,868,963 |
| 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 | $5,379,835 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Wake Forest University Foundation has recieved totaling $100,030.
| Awarding Organization | Amount |
|---|---|
North Carolina Community Foundation Inc Raleigh, NC PURPOSE: EDUCATION | $100,000 |
The Duke Energy Foundation Charlotte, NC PURPOSE: MATCHING GIFTS | $30 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Distributive Education Clubs Of America Group Return Reston, VA | $11,910,370 | $23,082,327 |
Board Of Control For Southern Regional Education Atlanta, GA | $37,266,722 | $19,223,997 |
Frankie Lemmon Foundation Inc Raleigh, NC | $6,041,265 | $1,795,716 |
Georgia Association Of Educational Leaders Athens, GA | $1,322,516 | $1,104,671 |
Hamilton County Education Association Chattanooga, TN | $382,786 | $667,511 |
Life Foundation Inc Marietta, GA | $5,030,034 | $2,850,424 |
Wake Forest University Foundation WinstonSalem, NC | $9,248,798 | $15,255 |
American Traffic Safety Services Foundation Inc Fredericksburg, VA | $1,172,992 | $387,258 |
Professional Association Of Georgia Educators Foundation Inc Atlanta, GA | $2,018,591 | $349,575 |
Wake Forest University Development Foundation WinstonSalem, NC | $246,438 | -$10,305 |
Kiwanis Foundation Inc Hickory Hickory, NC | $1,090,638 | $34,544 |