Medical Foundation Of Wake Forest University Health Sciences And The
- Assets
- $12.2m
- Revenue
- $12.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Winstonsalem, NC
- Founding
- 10/1953
- Data as of
- 12/2022
- EIN
- 56-6036688
Organization Overview
Medical Foundation Of Wake Forest University Health Sciences And The is located in Winstonsalem, NC. The organization was established in 1953. According to its NTEE Classification (E60) the organization is classified as: Health Support, under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Medical Foundation Of Wake Forest University Health Sciences And The 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 12/2022, Medical Foundation Of Wake Forest University Health Sciences And The generated $12.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (22.5%) each year.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO AID AND PROMOTE, BY FINANCIAL ASSISTANCE AND OTHERWISE, ALL TYPES OF EDUCATION, SERVICE AND RESEARCH IN THE FIELDS OF PREVENTIVE AND CURATIVE MEDICINE
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO RENDER AID AND ASSISTANCE TO WFUHS AND NCBH IN THEIR PURSUITS BY APPROVED METHODS FOR THE PROMOTION OF MEDICAL SCIENCE AND MEDICAL KNOWLEDGE, THE PUBLICATION AND DISTRIBUTION OF LITERATURE, THE EDUCATION AND TRAINING OF PHYSICIANS, NURSES, TECHNICIANS AND SCIENTISTS FOR PRACTICE OR EMPLOYMENT WITHIN NORTH CAROLINA AND ELSEWHERE, AND IMPROVE THE QUALITY OF TRAINING AND SERVICE RENDERED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Julie A Freischlag MD Trustee & President | OfficerTrustee | 0.1 | $0 |
Bradley A Clark Trustee & Treasurer | OfficerTrustee | 0.1 | $1,335,054 |
J Mclain Wallace Jr Secretary | Officer | 0.1 | $984,139 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $55,321 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$99,281 |
| Net Gain/Loss on Asset Sales | $55,913 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,953 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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 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 | $0 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $0 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,413,288 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $203,390 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $2,063,187 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $6,470,406 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $12,150,271 |
| Accounts payable and accrued expenses | $0 |
| 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 | $59,623 |
| Total liabilities | $59,623 |
| Net assets without donor restrictions | $12,090,648 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $12,150,271 |