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WAKE Forest University

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

Federal Audit History

Single audits filed with the Federal Audit Clearinghouse
$374.7M in federal awards expended in FY2025
YearFederal $ expendedAuditorOpinionFlags
2025$374.7MKPMG LLPUnmodified (clean)
2024$322.5MKPMG LLPUnmodified (clean)
2023$303.9MKPMG LLPUnmodified (clean)Low-risk auditee
2022$285.9MKPMG LLPUnmodified (clean)Low-risk auditee

Federal Programs

Top programs · FY2025
ProgramAgencyExpendedMajor programFindings
Federal Direct Student LoansEducation$54.8MYes1
Federal Direct Student LoansEducation$41.5MYes1
Aging ResearchHHS$40.9MYes0
DRUG Use and Addiction Research ProgramsHHS$11.4MYes0
NSF Technology, Innovation, and PartnershipsNSF$10.1MYes0
Diabetes, Digestive, and Kidney Diseases Extramural ResearchHHS$9.6MYes0
Research Infrastructure ProgramsHHS$8.8MYes0
Cardiovascular Diseases ResearchHHS$8.0MYes0
Allergy and Infectious Diseases ResearchHHS$7.6MYes0
Alcohol Research ProgramsHHS$7.0MYes0

Audit Findings

FY2025 · auditor's own text
2025-002Special testsSignificant deficiency
Finding 2025-002: NSLDS Reporting Federal Agency U.S. Department of Education Federal Program Student Financial Assistance Cluster (ALN # 84.268, 84.063) Federal Award Year July 1, 2024 through June 30, 2025 Federal Award Numbers P063P241963; P268K251963; P268K256998; P268K256953…
2025-002Special testsSignificant deficiency
Finding 2025-002: NSLDS Reporting Federal Agency U.S. Department of Education Federal Program Student Financial Assistance Cluster (ALN # 84.268, 84.063) Federal Award Year July 1, 2024 through June 30, 2025 Federal Award Numbers P063P241963; P268K251963; P268K256998; P268K256953…
2025-002Special testsSignificant deficiency
Finding 2025-002: NSLDS Reporting Federal Agency U.S. Department of Education Federal Program Student Financial Assistance Cluster (ALN # 84.268, 84.063) Federal Award Year July 1, 2024 through June 30, 2025 Federal Award Numbers P063P241963; P268K251963; P268K256998; P268K256953…
Source: Federal Audit Clearinghouse single audits (required of organizations expending $1,000,000+ in federal awards per year for fiscal years beginning on or after Oct 1, 2024; $750,000 before).