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WAKE Forest University

Public charityFed auditsIRS 990990-T FY2023
DBA: % CONTROLLERS OFFICE
Other · WINSTONSALEM, NC · EIN 56-0532138

About

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 seven constituent parts: Wake Forest College; the Graduate School of Arts and Sciences; the School of Law; the School of Medicine; the School of Business; the School of Divinity; and the School of Professional Studies. 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.

In care of Controllers Office

Donations are tax-deductible
Category
Other
Employees
5,772
Volunteers
2,200

Financial Snapshot

FY ending 2023-06-30
Revenue
$686.9M
Expenses
$654.8M
Assets
$2.7B
Liabilities
$802.5M

Financial history

$715.4M$357.7M$0
1617181920212223
RevenueExpenses
Latest FY2023: $686.9M · Peak FY2022: $715.4M · Avg: $633.8M

Foreign activity (Schedule F)

Total spent abroad$17.3M
Foreign employees0
Foreign offices19
Foreign partnership interestYes
Foreign trust interestNo
RegionActivitySpent
Central America & the Caribbean——
Central America & the Caribbean——
Central America & the Caribbean——
Central America & the Caribbean——
Central America & the Caribbean——
Central America & the Caribbean——
East Asia & Pacific——
East Asia & Pacific——
East Asia & Pacific——
East Asia & Pacific——
East Asia & Pacific——
Europe & North Atlantic——
Europe & North Atlantic——
Europe & North Atlantic——
Europe & North Atlantic——
Europe & North Atlantic——
Europe & North Atlantic——
Europe & North Atlantic——
Europe & North Atlantic——
Middle East & North Africa——
Middle East & North Africa——
Middle East & North Africa——
Middle East & North Africa——
North America——
North America——

501(h) election

This 501(c)(3) has NOT elected 501(h) — lobbying is permitted but limited under the vaguer "no substantial part of activities" test.

Political & Grant Activity

Campaign Spending
—
Lobbying
$75K
Grants Given
$115.4M
WAKE FOREST UNIVERSITY
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Address

1834 WAKE Forest Road
Winstonsalem, NC, 27109-600

Governance

Voting board members48
Independent members46
Conflict-of-interest policyYes
Whistleblower policyYes
Doc-retention policyYes
Audit committeeYes
990 reviewed by boardYes

Compensation practices

Severance paymentsNo
Equity-based compNo
Supplemental retirement planYes
Compensation committeeYes
Used comp surveyYes
Board approved compYes
Initial contract exceptionNo

Financial detail (Schedule D)

Board-designated %22.2%
Permanent endowment %47.2%
Endowment held by related orgYes
Public records
ProPublica Nonprofit Explorer ↗
Full 990 PDFs going back to 2001, plus parsed financial extracts. The easiest place to read actual filings.
IRS Tax Exempt Organization Search ↗
IRS-side authoritative source. Confirms current exempt status and pulls the latest determination letter.
These open in a new tab. AllCiv doesn't host filings directly — these are the authoritative public-record sources.