WAKE FOREST UNIVERSITY: Form 990, tax year 2022

View the entire original 990 at ProPublica ↗

Organization: WAKE FOREST UNIVERSITY (EIN 56-0532138)
Tax period: 2022-07-01 to 2023-06-30
Filed: 2024-05-15
IRS object ID: 202401369349307255
Schema version: 2022v5.0
Source: Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header
Form 990
Schedule A
Schedule B
Schedule C
Schedule D
Schedule E
Schedule F
Schedule G
Schedule I
Schedule J
Schedule K
Schedule L
Schedule M
Schedule O
Schedule R

Return header ReturnHeader

Field	Value	IRS element (for citing)
Return	2024-05-15T11:21:23-05:00	ReturnTs
Tax Period End	2023-06-30	TaxPeriodEndDt
Return Type	990	ReturnTypeCd
Tax Period Begin	2022-07-01	TaxPeriodBeginDt

Filer Filer

Field	Value	IRS element (for citing)
EIN	560532138	EIN

Business Name BusinessName

Field	Value	IRS element (for citing)
Business Name Line1	WAKE FOREST UNIVERSITY	BusinessNameLine1Txt

Field	Value	IRS element (for citing)
Business Name Control	WAKE	BusinessNameControlTxt
Phone	3367585233	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	1834 WAKE FOREST RD BOX 7201	AddressLine1Txt
City	WINSTONSALEM	CityNm
State Abbreviation	NC	StateAbbreviationCd
ZIP	27109	ZIPCd

Business Officer BusinessOfficerGrp

Field	Value	IRS element (for citing)
Person	Jacqueline Travisano	PersonNm
Person Title	EVP/CFO/Treasurer	PersonTitleTxt
Phone	3367585233	PhoneNum
Signature	2024-05-13	SignatureDt

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

Field	Value	IRS element (for citing)
Person First	Jacqueline	PersonFirstNm
Person Last	Travisano	PersonLastNm

Field	Value	IRS element (for citing)
SSN	XXX-XX-XXXX	SSN

Field	Value	IRS element (for citing)
IRS Responsible Prty Info Curr	0	IRSResponsiblePrtyInfoCurrInd

Additional Filer Information AdditionalFilerInformation

Trusted Customer TrustedCustomerGrp

Field	Value	IRS element (for citing)
Trusted Customer	2	TrustedCustomerCd
Authentication Assurance Level	AAL1	AuthenticationAssuranceLevelCd
Identity Assurance Level	IAL1	IdentityAssuranceLevelCd

Field	Value	IRS element (for citing)
Tax	2022	TaxYr
Build TS	2023-04-26 12:10:37Z	BuildTS

Form 990 IRS990

Field	Value	IRS element (for citing)
Principal Officer	Susan R Wente PhD	PrincipalOfficerNm

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	1834 WAKE FOREST RD BOX 7201	AddressLine1Txt
City	WINSTONSALEM	CityNm
State Abbreviation	NC	StateAbbreviationCd
ZIP	27109	ZIPCd

Field	Value	IRS element (for citing)
Gross Receipts	$1,120,195,264	GrossReceiptsAmt
Group Return For Affiliates	0	GroupReturnForAffiliatesInd
Organization501c3	Yes (X)	Organization501c3Ind
Website Address	www.wfu.edu	WebsiteAddressTxt
Type Of Organization Corp	Yes (X)	TypeOfOrganizationCorpInd
Formation	1834	FormationYr
Legal Domicile State	NC	LegalDomicileStateCd
Activity Or Mission	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.	ActivityOrMissionDesc
Voting Members Governing Body	48	VotingMembersGoverningBodyCnt
Voting Members Independent	46	VotingMembersIndependentCnt
Total Employee	5772	TotalEmployeeCnt
Total Volunteers	2200	TotalVolunteersCnt
Total Gross UBI	$8,110,860	TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm	$0	NetUnrelatedBusTxblIncmAmt
PY Contributions Grants	$123,550,270	PYContributionsGrantsAmt
CY Contributions Grants	$74,090,708	CYContributionsGrantsAmt
PY Program Service Revenue	$510,330,123	PYProgramServiceRevenueAmt
CY Program Service Revenue	$541,023,038	CYProgramServiceRevenueAmt
PY Investment Income	$61,644,679	PYInvestmentIncomeAmt
CY Investment Income	$48,365,539	CYInvestmentIncomeAmt
PY Other Revenue	$19,913,432	PYOtherRevenueAmt
CY Other Revenue	$23,380,905	CYOtherRevenueAmt
PY Total Revenue	$715,438,504	PYTotalRevenueAmt
CY Total Revenue	$686,860,190	CYTotalRevenueAmt
PY Grants And Similar Paid	$135,909,105	PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid	$134,557,551	CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members	$0	PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members	$0	CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid	$307,076,529	PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid	$311,342,799	CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns	$0	PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns	$0	CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense	$24,508,131	CYTotalFundraisingExpenseAmt
PY Other Expenses	$184,980,150	PYOtherExpensesAmt
CY Other Expenses	$208,892,391	CYOtherExpensesAmt
PY Total Expenses	$627,965,784	PYTotalExpensesAmt
CY Total Expenses	$654,792,741	CYTotalExpensesAmt
PY Revenues Less Expenses	$87,472,720	PYRevenuesLessExpensesAmt
CY Revenues Less Expenses	$32,067,449	CYRevenuesLessExpensesAmt
Total Assets BOY	$2,572,484,456	TotalAssetsBOYAmt
Total Assets EOY	$2,655,159,124	TotalAssetsEOYAmt
Total Liabilities BOY	$782,553,773	TotalLiabilitiesBOYAmt
Total Liabilities EOY	$802,519,631	TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY	$1,789,930,683	NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY	$1,852,639,493	NetAssetsOrFundBalancesEOYAmt
Info In Schedule O Part III	Yes (X)	InfoInScheduleOPartIIIInd
Mission	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.	MissionDesc
Significant New Program Srvc	0	SignificantNewProgramSrvcInd
Significant Change	0	SignificantChangeInd
Expense	$331,040,114	ExpenseAmt
Grant	$114,027,720	GrantAmt
Revenue	$421,855,438	RevenueAmt
Desc	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. It is committed to being a community of students, faculty, staff and alumni from diverse backgrounds, lived experiences and perspectives. It seeks to sustain an equitable, inclusive environment in which all can live, learn, belong and thrive. 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 2022, Wake Forest's enrollment was comprised of 5,447 undergraduates and 2,678 graduate students for a total of 8,125. Undergraduates in Fall 2022 came from 49 U.S. states; Washington, D.C.; other U.S. territories and possessions; and approximately 40 international countries. Women represented 55% of the undergraduate population and international students accounted for 8.6% of the total. Wake Forest offers 50 majors and 62 minors in Wake Forest College and in the School of Business. In the Fall 2022 semester, 99% of all undergraduate classes had fewer than 50 students. That is among the highest rates of any major university in the country. The average student-faculty ratio in Fall 2022 was 10 to 1. The class size is consistent with Wake Forest's educational model, 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. More than half of graduates have participated in study-away programs in recent years. The Institute for International Education's Open Doors Report, which began with the 2002-03 academic year, has ranked Wake Forest among the nation's top 10 doctoral institutions in participation rate in every year the University has operated study-abroad programs. Wake Forest is one of a select group of universities to own and operate 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 3,500 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 2022, 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 and take classes in space rented by the University and located in the heart of the city's Dupont Circle. Participation in all Study Away programs has rebounded considerably after the pandemic. As of June 2023, a record total of 601 students had registered for these opportunities for the Fall 2023 semester. Graduate Studies:More than 90 graduate degree programs are offered in the Graduate School of Arts and Sciences and the Schools of Business, Divinity, Law, Medicine and Professional Studies. 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 a total of seven highly rated graduate programs in Accountancy, Business Administration, Management and Analytics. In the past 20 years in which national records were kept, Wake Forest led the nation in CPA exam passage rate and placed in the top five in 19 of those 20 years. The National Association of State Boards of Accountancy suspended data collection by institution with the onset of the COVID-19 pandemic. The School of Business also co-sponsors dual degrees in Law and Medicine. Divinity: Although less than 25 years old, the Wake Forest School of Divinity is nationally recognized for its commitment to public service. The School aspires for its graduates to be agents of justice, reconciliation and compassion and architects of equity, hope and healing. In addition to its own Master of Divinity degree, the School contributes to dual degrees in Bioethics, Counseling, Education, Law and Sustainability.Law: The School of Law is among national leaders in value, employment rate, bar-passage rate and several practice areas. According to the American Bar Association, 93% of Class of 2023 graduates passed the bar exam in the state of their choosing on the first try. In employment, 96% of the Class of 2022 held full-time positions for which bar passage was required or for which a JD degree was advantageous. That cohort is the most recent for which data is available. Wake Forest offers four law degrees (JD, MSL, LLM and SJD) and combines with other schools on dual degrees in Business Administration, Divinity, Bioethics and Sustainability. Arts and Sciences: The Graduate School of Arts and Sciences houses 23 Masters and Doctoral disciplinary or interdisciplinary programs and sponsors 15 programs jointly with the Schools of Law, Medicine, Business, Divinity and the Undergraduate College. The main campus, known as the Reynolda Campus, consists of more than 80 buildings on 340 acres in Winston-Salem, North Carolina. It opened in 1956 as the institution moved from its original location in Wake Forest, North Carolina, located 100 miles east. In addition, the University owns or leases space in several other locations. They include Wake Downtown, a repurposed tobacco warehouse that now houses robust academic programs in biomedical sciences and engineering approximately four miles from the Reynolda Campus; the Brookstown Campus, a Wake Downtown neighbor serving several Graduate School programs; the Bowman Gray Campus, home to the School of Medicine and select Graduate School programs; and residential-academic houses for study-away opportunities in London, Venice and Vienna. Wake Forest considers access and opportunity vital to the mission articulated by its motto, "Pro Humanitate." In FY23 alone, the University created 72 new scholarship funds and enhanced several others in the name of expanding its reach. Approximately 52% of the undergraduate student population and the vast majority of graduate students received financial aid awards in the form of grants or loans in 2022-23. Personal and Career Development:The Office of Personal and Career Development (OPCD) has shared its best practices and philosophies with more than 200 other institutions since 2009 and has been honored accordingly. In 2023, Wake Forest was one of only 12 institutions to receive a Career Spark Award from Handshake, a career networking firm with more than 1,400 college and university partners. Approximately 97% of Class of 2022 graduates had secured employment or a graduate school opportunity within six months of receiving Wake Forest degrees. That figure is based on an extraordinarily high reporting rate in excess of 80%. OPCD's commitment to Wake Forest graduates extends beyond the receipt of a diploma. In FY23 alone, approximately 1,500 alumni benefited from career coaching and other programs.	Desc

Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp

Field	Value	IRS element (for citing)
Expense	$124,067,580	ExpenseAmt
Grant	$13,574,719	GrantAmt
Revenue	$116,923,510	RevenueAmt
Desc	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) maintains 27 facilities. They are equipped with high-speed internet service and include common areas suited to group study. Mission Statement- 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.The Division of Dining Services includes 17 locations. The main dining hall, affectionately 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 and nine for women in the 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 2023. 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, seven posted perfect scores of 100%. Demon Deacon teams have won 10 NCAA team championships in six unique sports. Men's golf and field hockey have won three each and women's golf, men's tennis, men's soccer and baseball have one title apiece. In the spring of 2023, the women's golf team won its first NCAA title and the baseball team advanced to the semifinal stage of the College World Series.	Desc

Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp

Field	Value	IRS element (for citing)
Expense	$81,710,191	ExpenseAmt
Revenue	$2,945,020	RevenueAmt
Desc	Campus Life:Wake Forest is committed to putting the spirit of its motto, Pro Humanitate, in action. Student Organizations: 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. Community Outreach: 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 the 2022-23 academic year, Wake Forest was one of only two North Carolina colleges to receive funds for a new initiative, Public Health AmeriCorps. Over the year, 13 students partnered with seven unique community organizations to help meet various public-health needs. In 2022-23, more than 40% of undergraduates participated in one or both of the major campus fundraising events supporting cancer research. Wellbeing: The University believes its obligation to students transcends classroom learning and extends to general health and wellbeing. 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. In early 2023, Wake Forest announced the creation of We, a campus-wide initiative in support of mental health. The program works with the campus community to elevate consciousness of care; promote healthy practices and preventative care awareness; equip community members with knowledge and skills that can support their peers in need; and connect the community to the resources and information necessary to foster a culture of self-care. The endeavor created a dedicated phone number through which callers can refer themselves or others in need of assistance.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.	Desc

Prog Srvc Accom Acty Other ProgSrvcAccomActyOtherGrp

Field	Value	IRS element (for citing)
Expense	$23,816,365	ExpenseAmt
Grant	$6,955,112	GrantAmt
Revenue	$4,183,306	RevenueAmt
Desc	Research: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. Every fall, the Undergraduate Research and Creative Activities Center sponsors Undergraduate Research Day, in which students display and explain the results of their faculty-mentored research, which often takes place the previous summer. In 2022, more than 150 students presented their work, achieved under the guidance of faculty in 29 unique academic disciplines. In the Class of 2023, approximately one of every 11 graduates had participated in at least one Undergraduate Research Day. Wake Forest is also distinctive and impactful in the study of leadership and character. In January of 2023, the University announced it had secured a $30.7 million grant from the Lilly Endowment Inc., to benefit the Program for Leadership and Character, an initiative that seeks to inspire, educate and empower leaders of character to serve humanity. The grant will create a national higher education network dedicated to educating character. Research at Wake Forest is enhanced by the work of 10 discipline-specific institutes and centers. In 2022-23, these organizations included:The Humanities Institute, which establishes programs and funds for University faculty in the humanities and other fields of study engaging in humanistic inquiry and scholarship;The Center for Bioethics, Health and Society, which addresses ethical, social and policy issues vital to biotechnology, healthcare, biomedical research and public health;The Andrew Sabin Family Center for Environment and Sustainability, which is dedicated to influencing the future of environmental protection, sustainability and climate change from the jungles of Peru to Wake Forest;The Center for Functional Materials, which is charged with connecting a broad range of materials-focused research groups and with supporting multidisciplinary research necessary for breakthrough developments; Interdisciplinary Arts Center, which draws artists, scholars, students, faculty and staff from across the academic divisions and disciplines in order to invigorate the intellectual and cultural life of the University;The Center for Molecular Signaling, which brings together investigators in the life, physical, computational and mathematical sciences to tackle basic questions about molecular communication among and within the cells of living organisms ranging from insects to plants to humans;The Center for Nanotechnology and Molecular Materials, which seeks to provide access to a broad range of nationally competitive capabilities in nanosciences.The Center for Research on Abroad and International Student Engagement (RAISE Center), which is dedicated to helping faculty, staff and students collaborate with scholars around the world to understand and enhance the experiences, engagement and development of abroad and international students; The Center for Research, Engagement and Collaboration in African American Life (RECAAL), which promotes awareness about the diverse experiences of Black people in the United States; andThe Translational Science Center (TSC), which focuses on promoting and maintaining functional health in aging through research of cognitive function and physical activity.Conference ServicesWake Forest offers other organizations the space and logistical assistance to run conventions and other events. The locations include academic classrooms and auditoriums on the main campus as well as three separate, affiliated venues: Graylyn Estate and Conference Center; Reynolda Gardens; and Reynolda House Museum of American Art. WFDDThe University owns WFDD, an FM affiliate of National Public Radio. The station broadcast news, information, and public affairs programming covering the arts, people, and institutions in the area. It is the longest continuously broadcasting public radio station in North Carolina.	Desc

Field	Value	IRS element (for citing)
Total Other Prog Srvc Expense	$23,816,365	TotalOtherProgSrvcExpenseAmt
Total Other Prog Srvc Grant	$6,955,112	TotalOtherProgSrvcGrantAmt
Total Other Prog Srvc Revenue	$4,183,306	TotalOtherProgSrvcRevenueAmt
Total Program Service Expenses	$560,634,250	TotalProgramServiceExpensesAmt
Described In Section501c3	Yes (1)	DescribedInSection501c3Ind
Schedule B Required	Yes (1)	ScheduleBRequiredInd
Political Campaign Acty	0	PoliticalCampaignActyInd
Lobbying Activities	Yes (1)	LobbyingActivitiesInd
Subject To Proxy Tax	0	SubjectToProxyTaxInd
Donor Advised Fund	0	DonorAdvisedFundInd
Conservation Easements	0	ConservationEasementsInd
Collections Of Art	Yes (1)	CollectionsOfArtInd
Credit Counseling	Yes (1)	CreditCounselingInd
Donor Rstr Or Quasi Endowments	Yes (1)	DonorRstrOrQuasiEndowmentsInd
Report Land Building Equipment	Yes (1)	ReportLandBuildingEquipmentInd
Report Investments Other Sec	Yes (1)	ReportInvestmentsOtherSecInd
Report Program Related Invst	0	ReportProgramRelatedInvstInd
Report Other Assets	0	ReportOtherAssetsInd
Report Other Liabilities	Yes (1)	ReportOtherLiabilitiesInd
Include FIN48 Footnote	Yes (1)	IncludeFIN48FootnoteInd
Independent Audit Fincl Stmt	0	IndependentAuditFinclStmtInd
Consolidated Audit Fincl Stmt	Yes (1)	ConsolidatedAuditFinclStmtInd
School Operating	Yes (1)	SchoolOperatingInd
Foreign Office	Yes (1)	ForeignOfficeInd
Foreign Activities	Yes (1)	ForeignActivitiesInd
More Than5000 K To Org	Yes (1)	MoreThan5000KToOrgInd
More Than5000 K To Individuals	0	MoreThan5000KToIndividualsInd
Professional Fundraising	0	ProfessionalFundraisingInd
Fundraising Activities	Yes (1)	FundraisingActivitiesInd
Gaming Activities	0	GamingActivitiesInd
Operate Hospital	0	OperateHospitalInd
Grants To Organizations	Yes (1)	GrantsToOrganizationsInd
Grants To Individuals	Yes (1)	GrantsToIndividualsInd
Schedule J Required	Yes (1)	ScheduleJRequiredInd
Tax Exempt Bonds	Yes (1)	TaxExemptBondsInd
Invest Tax Exempt Bonds	0	InvestTaxExemptBondsInd
Escrow Account	0	EscrowAccountInd
On Behalf Of Issuer	0	OnBehalfOfIssuerInd
Engaged In Excess Benefit Trans	0	EngagedInExcessBenefitTransInd
PY Excess Benefit Trans	0	PYExcessBenefitTransInd
Loan Outstanding	0	LoanOutstandingInd
Grant To Related Person	Yes (1)	GrantToRelatedPersonInd
Business Rln With Org Mem	0	BusinessRlnWithOrgMemInd
Business Rln With Fam Mem	Yes (1)	BusinessRlnWithFamMemInd
Business Rln With35 Ctrl Ent	0	BusinessRlnWith35CtrlEntInd
Deductible Non Cash Contri	Yes (1)	DeductibleNonCashContriInd
Deductible Art Contribution	0	DeductibleArtContributionInd
Terminate Operations	0	TerminateOperationsInd
Partial Liquidation	0	PartialLiquidationInd
Disregarded Entity	Yes (1)	DisregardedEntityInd
Related Entity	Yes (1)	RelatedEntityInd
Related Organization Ctrl Ent	Yes (1)	RelatedOrganizationCtrlEntInd
Transaction With Control Ent	0	TransactionWithControlEntInd
Trnsfr Exmpt Non Chrtbl Rltd Org	0	TrnsfrExmptNonChrtblRltdOrgInd
Activities Conducted Prtshp	0	ActivitiesConductedPrtshpInd
Schedule O Required	Yes (1)	ScheduleORequiredInd
Info In Schedule O Part V	Yes (X)	InfoInScheduleOPartVInd
IRP Document	11395	IRPDocumentCnt
IRP Document W2 G	0	IRPDocumentW2GCnt
Backup Wthld Compliance	Yes (1)	BackupWthldComplianceInd
Employee	5772	EmployeeCnt
Employment Tax Returns Filed	Yes (1)	EmploymentTaxReturnsFiledInd
Unrelated Bus Incm Over Limit	Yes (1)	UnrelatedBusIncmOverLimitInd
Form990 T Filed	Yes (1)	Form990TFiledInd
Foreign Financial Account	Yes (1)	ForeignFinancialAccountInd
Foreign Country	UK	ForeignCountryCd
Foreign Country	FR	ForeignCountryCd
Foreign Country	SP	ForeignCountryCd
Foreign Country	AU	ForeignCountryCd
Foreign Country	IT	ForeignCountryCd
Foreign Country	CI	ForeignCountryCd
Foreign Country	CH	ForeignCountryCd
Prohibited Tax Shelter Trans	0	ProhibitedTaxShelterTransInd
Taxable Party Notification	0	TaxablePartyNotificationInd
Nondeductible Contributions	0	NondeductibleContributionsInd
Quid Pro Quo Contributions	Yes (1)	QuidProQuoContributionsInd
Quid Pro Quo Contri Discl	Yes (1)	QuidProQuoContriDisclInd
Form8282 Property Disposed Of	0	Form8282PropertyDisposedOfInd
Form8282 Filed	0	Form8282FiledCnt
Rcv Fnds To Pay Prsnl Bnft Cntrct	0	RcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft Cntrct	0	PayPremiumsPrsnlBnftCntrctInd
Form1098 C Filed	Yes (1)	Form1098CFiledInd
Indoor Tanning Services	0	IndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht Pymt	Yes (1)	SubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst Inc	0	SubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VI	Yes (X)	InfoInScheduleOPartVIInd
Governing Body Voting Members	48	GoverningBodyVotingMembersCnt
Independent Voting Member	46	IndependentVotingMemberCnt
Family Or Business Rln	Yes (1)	FamilyOrBusinessRlnInd
Delegation Of Mgmt Duties	0	DelegationOfMgmtDutiesInd
Change To Org Documents	0	ChangeToOrgDocumentsInd
Material Diversion Or Misuse	0	MaterialDiversionOrMisuseInd
Members Or Stockholders	0	MembersOrStockholdersInd
Election Of Board Members	0	ElectionOfBoardMembersInd
Decisions Subject To Approva	0	DecisionsSubjectToApprovaInd
Minutes Of Governing Body	Yes (1)	MinutesOfGoverningBodyInd
Minutes Of Committees	Yes (1)	MinutesOfCommitteesInd
Officer Mailing Address	0	OfficerMailingAddressInd
Local Chapters	0	LocalChaptersInd
Form990 Provided To Gvrn Body	Yes (1)	Form990ProvidedToGvrnBodyInd
Conflict Of Interest Policy	Yes (1)	ConflictOfInterestPolicyInd
Annual Disclosure Covered Prsn	Yes (1)	AnnualDisclosureCoveredPrsnInd
Regular Monitoring Enfrc	Yes (1)	RegularMonitoringEnfrcInd
Whistleblower Policy	Yes (1)	WhistleblowerPolicyInd
Document Retention Policy	Yes (1)	DocumentRetentionPolicyInd
Compensation Process CEO	Yes (1)	CompensationProcessCEOInd
Compensation Process Other	Yes (1)	CompensationProcessOtherInd
Investment In Joint Venture	Yes (1)	InvestmentInJointVentureInd
Written Policy Or Procedure	Yes (1)	WrittenPolicyOrProcedureInd
Upon Request	Yes (X)	UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

Business Name BusinessName

Field	Value	IRS element (for citing)
Business Name Line1	Marnie S Matthews	BusinessNameLine1Txt

Field	Value	IRS element (for citing)
Phone	3367585233	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	PO Box 7201	AddressLine1Txt
City	WinstonSalem	CityNm
State Abbreviation	NC	StateAbbreviationCd
ZIP	27109	ZIPCd

Field	Value	IRS element (for citing)
Info In Schedule O Part VII	Yes (X)	InfoInScheduleOPartVIIInd

Form990 Part VII Section A Form990PartVIISectionAGrp (63 entries)

TitleTitleTxt	Average Hours Per WeekAverageHoursPerWeekRt	Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt	Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd	Reportable Comp From OrgReportableCompFromOrgAmt	Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt	Other CompensationOtherCompensationAmt	OfficerOfficerInd	Key EmployeeKeyEmployeeInd	Highest Compensated EmployeeHighestCompensatedEmployeeInd	Former Ofcr Director TrusteeFormerOfcrDirectorTrusteeInd
Matthew A King
Board Chair	15.00	6.00	Yes (X)	$0	$0	$0
Cantey M Ergen
Board Vice Chair	6.00	0.60	Yes (X)	$0	$0	$0
Herman E Eure
Board Vice Chair	6.00	0.00	Yes (X)	$0	$0	$0
Alexander Acquavella
Trustee	3.00	0.00	Yes (X)	$0	$0	$0
Diana M Adams
Committee Chair	4.00	0.60	Yes (X)	$0	$0	$0
Shelmer D Blackburn Jr
Trustee	3.00	0.00	Yes (X)	$0	$0	$0
Donna A Boswell
Committee Chair	6.00	6.00	Yes (X)	$0	$0	$0
Peter C Brockway
Trustee	5.00	0.60	Yes (X)	$0	$0	$0
Bobby R Burchfield
Committee Chair	6.00	0.00	Yes (X)	$0	$0	$0
Jocelyn Burton
Trustee	5.00	0.00	Yes (X)	$0	$0	$0
Peter M Carlson
Committee Chair	6.00	2.00	Yes (X)	$0	$0	$0
H Lawrence Culp Jr
Trustee	3.00	0.00	Yes (X)	$0	$0	$0
Jermyn M Davis
Trustee	5.00	0.00	Yes (X)	$0	$0	$0
James E Dixon
Trustee	3.00	0.00	Yes (X)	$0	$0	$0
Serena Fisher Dugan
Trustee	3.00	0.00	Yes (X)	$0	$0	$0
David W Dupree
Trustee	4.00	3.00	Yes (X)	$0	$0	$0
Donna F Edwards
Trustee	3.00	0.00	Yes (X)	$0	$0	$0
Lisbeth Clark Evans
Trustee	3.00	0.00	Yes (X)	$0	$0	$0
Mary R Farrell
Comm Vice Chair	5.00	0.00	Yes (X)	$0	$0	$0
Helen Hough Feinberg
Trustee	3.00	0.00	Yes (X)	$0	$0	$0
Donald E Flow
Comm Vice Chair	4.00	7.00	Yes (X)	$0	$0	$0
Anil Rai Gupta
Trustee	3.00	0.00	Yes (X)	$0	$0	$0
Julie Ann Mullen Hartman
Trustee	3.00	0.00	Yes (X)	$0	$0	$0
Marybeth Torbet Hays
Comm Vice Chair	5.00	2.60	Yes (X)	$0	$0	$0
Frank B Holding Jr
Committee Chair	5.00	0.60	Yes (X)	$0	$0	$0
A Dale Jenkins
Committee Chair	4.00	4.00	Yes (X)	$0	$0	$0
Deborah D Lambert
Committee Chair	6.00	0.00	Yes (X)	$0	$0	$0
Savannah Littlejohn
Trustee	3.00	0.00	Yes (X)	$0	$0	$0
Aubrey L Martin
Trustee	3.00	0.60	Yes (X)	$0	$0	$0
John M McAvoy
Comm Vice Chair	3.00	0.60	Yes (X)	$0	$0	$0
Robert J McCreary
Comm Vice Chair	3.00	0.70	Yes (X)	$0	$0	$0
Jane McGraw
Comm Vice Chair	3.00	0.00	Yes (X)	$0	$0	$0
James M O'Connell
Trustee	3.00	2.60	Yes (X)	$0	$0	$0
Ogden Phipps II
Trustee	3.00	0.60	Yes (X)	$0	$0	$0
Gary S Pinkus
Trustee	3.00	0.00	Yes (X)	$0	$0	$0
Alice Proietti
Trustee	3.00	0.00	Yes (X)	$0	$0	$0
Jorge Rodriguez
Trustee	3.00	0.00	Yes (X)	$0	$0	$0
Mit B Shah
Committee Chair	6.00	3.00	Yes (X)	$0	$0	$0
Hannah VanderWeide Shue
Trustee	3.00	0.00	Yes (X)	$0	$0	$0
Michael C Smith
Comm Vice Chair	4.00	0.60	Yes (X)	$0	$0	$0
Janice K Story
Trustee	3.00	0.00	Yes (X)	$0	$0	$0
Ben C Sutton Jr
Trustee	5.00	0.00	Yes (X)	$0	$0	$0
Cathy Wall Thomas
Trustee	3.00	2.00	Yes (X)	$0	$0	$0
Shannan Spence Townsend
Trustee	3.00	2.00	Yes (X)	$0	$0	$0
David I Wahrhaftig
Comm Vice Chair	5.00	0.00	Yes (X)	$0	$0	$0
Eric C Wiseman
Comm Vice Chair	5.00	2.00	Yes (X)	$0	$0	$0
Katherine B Wright
Committee Chair	5.00	0.00	Yes (X)	$0	$0	$0
Susan R Wente PhD
President & Trustee	29.30	10.70	Yes (X)	$1,398,169	$0	$314,071	Yes (X)
Julie A Freischlag MD
EVP Health Aff.	2.00	21.20		$0	$5,155,928	$668,096	Yes (X)
J Reid Morgan
S.VP, Sec, G.C.	19.70	20.30		$647,740	$0	$142,213	Yes (X)
Anita M Conrad
Asst Secretary	21.00	19.00		$201,322	$0	$43,395	Yes (X)
B Hofler Milam
EVP, CFO, Treas	36.50	3.50		$734,339	$0	$261,754	Yes (X)
Michele Gillespie PhD
Provost	40.00	0.00		$826,580	$0	$111,042	Yes (X)
John A Currie
Director of Athletics	40.00	0.00		$954,788	$0	$141,250		Yes (X)
Anthony P Marsh
Interim Dean, Wake Forest College	40.00	0.00		$259,438	$0	$85,554		Yes (X)
Mark A Petersen
VP - Advancement	40.00	0.00		$652,428	$0	$165,623			Yes (X)
David P Clawson
Football Coach	40.00	0.00		$4,709,021	$0	$72,389			Yes (X)
Warren D Ruggiero
F'ball Offensive Coordinator	40.00	0.00		$1,053,375	$0	$57,210			Yes (X)
Brad Lambert
F'ball Defensive Coordinator	40.00	0.00		$798,328	$0	$40,838			Yes (X)
Steve Forbes
Men's BktBall Co	40.00	0.00		$3,068,179	$0	$45,254			Yes (X)
Rogan Kersh PhD
Former Provost	40.00	0.00		$872,064	$0	$57,629				Yes (X)
Nathan O Hatch
Former President	40.00	0.00		$965,961	$0	$59,341				Yes (X)
Charles L Iacovou PhD
Dean, School of Professional Studies	40.00	0.00		$503,410	$0	$131,055				Yes (X)

Field	Value	IRS element (for citing)
Total Reportable Comp From Org	$17,645,142	TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org	$5,155,928	TotReportableCompRltdOrgAmt
Total Other Compensation	$2,396,714	TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K	615	IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed	Yes (1)	FormerOfcrEmployeesListedInd
Total Comp Greater Than150 K	Yes (1)	TotalCompGreaterThan150KInd
Compensation From Other Srcs	0	CompensationFromOtherSrcsInd

Contractor Compensation ContractorCompensationGrp (5 entries)

Address Line1ContractorAddress/USAddress/AddressLine1Txt	CityContractorAddress/USAddress/CityNm	State AbbreviationContractorAddress/USAddress/StateAbbreviationCd	ZIPContractorAddress/USAddress/ZIPCd	ServicesServicesDesc	CompensationCompensationAmt
Frank L Blum Construction Company
PO Box 4153	WinstonSalem	NC	27115	Construction	$45,537,316
Aramark Services Inc
2400 Market St	Philadelphia	PA	19103	Food Service	$32,816,525
The Whiting Turner Contracting Company
300 East Joppa Road	Baltimore	MD	21286	Construction	$12,826,630
NCS Pearson Inc
PO Box 226	Amherst	MA	01004	Testing/Counseling	$8,487,935
James R Vannoy & Sons Construction Co
1255 Creekshire Way	WinstonSalem	NC	27103	Construction	$5,156,241

Field	Value	IRS element (for citing)
Cntrct Rcvd Greater Than100 K	274	CntrctRcvdGreaterThan100KCnt
Fundraising	$126,324	FundraisingAmt
Related Organizations	$1,000,000	RelatedOrganizationsAmt
Government Grants	$12,296,465	GovernmentGrantsAmt
All Other Contributions	$60,667,919	AllOtherContributionsAmt
Noncash Contributions	$11,301,250	NoncashContributionsAmt
Total Contributions	$74,090,708	TotalContributionsAmt

Program Service Revenue ProgramServiceRevenueGrp (5 entries)

DescDesc	BusinessBusinessCd	Total Revenue ColumnTotalRevenueColumnAmt	Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt
Tuition and Fees	611310	$421,855,438	$421,855,438
Athletic Programs	711210	$56,210,093	$56,210,093
Student Housing & Dining	721310	$51,024,701	$51,024,701
Student Health Services	621400	$4,052,375	$4,052,375
Organized Activities	611710	$2,945,020	$2,945,020

Total Oth Program Service Rev TotalOthProgramServiceRevGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$4,935,411	TotalRevenueColumnAmt
Related Or Exempt Func Income	$4,208,518	RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue	$726,893	UnrelatedBusinessRevenueAmt

Field	Value	IRS element (for citing)
Total Program Service Revenue	$541,023,038	TotalProgramServiceRevenueAmt

Investment Income InvestmentIncomeGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$26,644,820	TotalRevenueColumnAmt
Unrelated Business Revenue	$544,822	UnrelatedBusinessRevenueAmt
Exclusion	$26,099,998	ExclusionAmt

Royalties Revenue RoyaltiesRevenueGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$4,417,383	TotalRevenueColumnAmt
Exclusion	$4,417,383	ExclusionAmt

Gross Rents GrossRentsGrp

Field	Value	IRS element (for citing)
Real	$9,677,178	RealAmt

Less Rental Expenses LessRentalExpensesGrp

Field	Value	IRS element (for citing)
Real	$7,958,112	RealAmt

Rental Income Or Loss RentalIncomeOrLossGrp

Field	Value	IRS element (for citing)
Real	$1,719,066	RealAmt

Net Rental Income Or Loss NetRentalIncomeOrLossGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$1,719,066	TotalRevenueColumnAmt
Unrelated Business Revenue	$1,289,111	UnrelatedBusinessRevenueAmt
Exclusion	$429,955	ExclusionAmt

Gross Amount Sales Assets GrossAmountSalesAssetsGrp

Field	Value	IRS element (for citing)
Securities	$366,229,054	SecuritiesAmt
Other	$79,916,362	OtherAmt

Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp

Field	Value	IRS element (for citing)
Securities	$344,535,812	SecuritiesAmt
Other	$79,888,885	OtherAmt

Gain Or Loss GainOrLossGrp

Field	Value	IRS element (for citing)
Securities	$21,693,242	SecuritiesAmt
Other	$27,477	OtherAmt

Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$21,720,719	TotalRevenueColumnAmt
Exclusion	$21,720,719	ExclusionAmt

Field	Value	IRS element (for citing)
Fundraising Gross Income	$46,866	FundraisingGrossIncomeAmt
Contri Rpt Fundraising Event	$126,324	ContriRptFundraisingEventAmt
Fundraising Direct Expenses	$24,696	FundraisingDirectExpensesAmt

Net Incm From Fundraising Evt NetIncmFromFundraisingEvtGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$22,170	TotalRevenueColumnAmt
Exclusion	$22,170	ExclusionAmt

Field	Value	IRS element (for citing)
Gross Sales Of Inventory	$8,730,195	GrossSalesOfInventoryAmt
Cost Of Goods Sold	$927,569	CostOfGoodsSoldAmt

Net Income Or Loss NetIncomeOrLossGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$7,802,626	TotalRevenueColumnAmt
Unrelated Business Revenue	$5,550,034	UnrelatedBusinessRevenueAmt
Exclusion	$2,252,592	ExclusionAmt

Other Revenue Misc OtherRevenueMiscGrp (3 entries)

DescDesc	BusinessBusinessCd	Total Revenue ColumnTotalRevenueColumnAmt	Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt	ExclusionExclusionAmt
Executive Educ/Other Instr	611430	$4,884,236	$4,884,236
Parking Revenue	812930	$2,631,209		$2,631,209
Sponsorship Payments	900099	$1,327,372		$1,327,372

Miscellaneous Revenue MiscellaneousRevenueGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$576,843	TotalRevenueColumnAmt
Exclusion	$576,843	ExclusionAmt

Field	Value	IRS element (for citing)
Other Revenue Total	$9,419,660	OtherRevenueTotalAmt

Total Revenue TotalRevenueGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$686,860,190	TotalRevenueColumnAmt
Related Or Exempt Func Income	$545,180,381	RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue	$8,110,860	UnrelatedBusinessRevenueAmt
Exclusion	$59,478,241	ExclusionAmt

Grants To Domestic Orgs GrantsToDomesticOrgsGrp

Field	Value	IRS element (for citing)
Total	$5,590,261	TotalAmt
Program Services	$5,590,261	ProgramServicesAmt

Grants To Domestic Individuals GrantsToDomesticIndividualsGrp

Field	Value	IRS element (for citing)
Total	$127,602,439	TotalAmt
Program Services	$127,602,439	ProgramServicesAmt

Foreign Grants ForeignGrantsGrp

Field	Value	IRS element (for citing)
Total	$1,364,851	TotalAmt
Program Services	$1,364,851	ProgramServicesAmt

Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp

Field	Value	IRS element (for citing)
Total	$8,976,361	TotalAmt
Program Services	$3,590,544	ProgramServicesAmt
Management And General	$4,488,181	ManagementAndGeneralAmt
Fundraising	$897,636	FundraisingAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

Field	Value	IRS element (for citing)
Total	$238,892,662	TotalAmt
Program Services	$197,774,947	ProgramServicesAmt
Management And General	$29,204,733	ManagementAndGeneralAmt
Fundraising	$11,912,982	FundraisingAmt

Pension Plan Contributions PensionPlanContributionsGrp

Field	Value	IRS element (for citing)
Total	$17,241,067	TotalAmt
Program Services	$13,699,274	ProgramServicesAmt
Management And General	$2,537,537	ManagementAndGeneralAmt
Fundraising	$1,004,256	FundraisingAmt

Other Employee Benefits OtherEmployeeBenefitsGrp

Field	Value	IRS element (for citing)
Total	$30,244,968	TotalAmt
Program Services	$21,915,895	ProgramServicesAmt
Management And General	$4,664,079	ManagementAndGeneralAmt
Fundraising	$3,664,994	FundraisingAmt

Payroll Taxes PayrollTaxesGrp

Field	Value	IRS element (for citing)
Total	$15,987,741	TotalAmt
Program Services	$12,585,568	ProgramServicesAmt
Management And General	$2,536,518	ManagementAndGeneralAmt
Fundraising	$865,655	FundraisingAmt

Fees For Services Legal FeesForServicesLegalGrp

Field	Value	IRS element (for citing)
Total	$1,716,071	TotalAmt
Program Services	$1,122,166	ProgramServicesAmt
Management And General	$593,905	ManagementAndGeneralAmt

Fees For Services Accounting FeesForServicesAccountingGrp

Field	Value	IRS element (for citing)
Total	$250,491	TotalAmt
Management And General	$250,491	ManagementAndGeneralAmt

Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp

Field	Value	IRS element (for citing)
Total	$9,210,716	TotalAmt
Program Services	$5,986,965	ProgramServicesAmt
Management And General	$3,223,751	ManagementAndGeneralAmt

Fees For Services Other FeesForServicesOtherGrp

Field	Value	IRS element (for citing)
Total	$27,632,427	TotalAmt
Program Services	$22,549,201	ProgramServicesAmt
Management And General	$2,886,593	ManagementAndGeneralAmt
Fundraising	$2,196,633	FundraisingAmt

Advertising AdvertisingGrp

Field	Value	IRS element (for citing)
Total	$4,164,240	TotalAmt
Program Services	$3,499,275	ProgramServicesAmt
Management And General	$416,115	ManagementAndGeneralAmt
Fundraising	$248,850	FundraisingAmt

Office Expenses OfficeExpensesGrp

Field	Value	IRS element (for citing)
Total	$10,754,342	TotalAmt
Program Services	$9,222,492	ProgramServicesAmt
Management And General	$588,885	ManagementAndGeneralAmt
Fundraising	$942,965	FundraisingAmt

Information Technology InformationTechnologyGrp

Field	Value	IRS element (for citing)
Total	$4,119,726	TotalAmt
Program Services	$3,378,935	ProgramServicesAmt
Management And General	$612,671	ManagementAndGeneralAmt
Fundraising	$128,120	FundraisingAmt

Royalties RoyaltiesGrp

Field	Value	IRS element (for citing)
Total	$1,527	TotalAmt
Program Services	$1,527	ProgramServicesAmt

Occupancy OccupancyGrp

Field	Value	IRS element (for citing)
Total	$10,289,866	TotalAmt
Program Services	$10,184,946	ProgramServicesAmt
Management And General	$98,860	ManagementAndGeneralAmt
Fundraising	$6,060	FundraisingAmt

Travel TravelGrp

Field	Value	IRS element (for citing)
Total	$16,030,917	TotalAmt
Program Services	$15,266,528	ProgramServicesAmt
Management And General	$196,458	ManagementAndGeneralAmt
Fundraising	$567,931	FundraisingAmt

Conferences Meetings ConferencesMeetingsGrp

Field	Value	IRS element (for citing)
Total	$5,747,158	TotalAmt
Program Services	$5,011,049	ProgramServicesAmt
Management And General	$629,287	ManagementAndGeneralAmt
Fundraising	$106,822	FundraisingAmt

Interest InterestGrp

Field	Value	IRS element (for citing)
Total	$20,108,027	TotalAmt
Program Services	$19,361,348	ProgramServicesAmt
Management And General	$746,679	ManagementAndGeneralAmt

Depreciation Depletion DepreciationDepletionGrp

Field	Value	IRS element (for citing)
Total	$51,762,730	TotalAmt
Program Services	$45,647,784	ProgramServicesAmt
Management And General	$6,114,946	ManagementAndGeneralAmt

Insurance InsuranceGrp

Field	Value	IRS element (for citing)
Total	$3,418,629	TotalAmt
Program Services	$951,403	ProgramServicesAmt
Management And General	$2,467,226	ManagementAndGeneralAmt

Other Expenses OtherExpensesGrp (4 entries)

DescDesc	TotalTotalAmt	Program ServicesProgramServicesAmt	Management And GeneralManagementAndGeneralAmt	FundraisingFundraisingAmt
Repairs and Maintenance	$10,357,373	$8,862,775	$993,688	$500,910
Dues. Licenses, Subscri	$8,500,355	$3,742,875	$4,609,534	$147,946
Library, Books & Public	$7,392,031	$7,341,672	$21,630	$28,729
Non Capital Equip & Fur	$6,806,984	$5,620,753	$1,127,689	$58,542

All Other Expenses AllOtherExpensesGrp

Field	Value	IRS element (for citing)
Total	$10,628,781	TotalAmt
Program Services	$8,758,777	ProgramServicesAmt
Management And General	$640,904	ManagementAndGeneralAmt
Fundraising	$1,229,100	FundraisingAmt

Total Functional Expenses TotalFunctionalExpensesGrp

Field	Value	IRS element (for citing)
Total	$654,792,741	TotalAmt
Program Services	$560,634,250	ProgramServicesAmt
Management And General	$69,650,360	ManagementAndGeneralAmt
Fundraising	$24,508,131	FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

Field	Value	IRS element (for citing)
EOY	$1	EOYAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

Field	Value	IRS element (for citing)
BOY	$44,579,369	BOYAmt
EOY	$59,977,241	EOYAmt

Pledges And Grants Receivable PledgesAndGrantsReceivableGrp

Field	Value	IRS element (for citing)
BOY	$142,015,776	BOYAmt
EOY	$118,779,415	EOYAmt

Accounts Receivable AccountsReceivableGrp

Field	Value	IRS element (for citing)
BOY	$16,434,847	BOYAmt
EOY	$20,521,856	EOYAmt

Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp

Field	Value	IRS element (for citing)
BOY	$11,367,636	BOYAmt
EOY	$7,819,939	EOYAmt

Inventories For Sale Or Use InventoriesForSaleOrUseGrp

Field	Value	IRS element (for citing)
BOY	$927,945	BOYAmt
EOY	$841,896	EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

Field	Value	IRS element (for citing)
BOY	$5,336,212	BOYAmt
EOY	$6,179,658	EOYAmt

Field	Value	IRS element (for citing)
Land Bldg Equip Cost Or Other Bss	$1,355,079,490	LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec	$626,537,990	LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

Field	Value	IRS element (for citing)
BOY	$704,264,389	BOYAmt
EOY	$728,541,500	EOYAmt

Investments Pub Traded Sec InvestmentsPubTradedSecGrp

Field	Value	IRS element (for citing)
BOY	$436,077,165	BOYAmt
EOY	$460,124,525	EOYAmt

Investments Other Securities InvestmentsOtherSecuritiesGrp

Field	Value	IRS element (for citing)
BOY	$1,181,992,165	BOYAmt
EOY	$1,225,505,150	EOYAmt

Other Assets Total OtherAssetsTotalGrp

Field	Value	IRS element (for citing)
BOY	$29,488,952	BOYAmt
EOY	$26,867,943	EOYAmt

Total Assets TotalAssetsGrp

Field	Value	IRS element (for citing)
BOY	$2,572,484,456	BOYAmt
EOY	$2,655,159,124	EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

Field	Value	IRS element (for citing)
BOY	$55,228,308	BOYAmt
EOY	$51,876,837	EOYAmt

Deferred Revenue DeferredRevenueGrp

Field	Value	IRS element (for citing)
BOY	$32,411,634	BOYAmt
EOY	$73,530,983	EOYAmt

Tax Exempt Bond Liabilities TaxExemptBondLiabilitiesGrp

Field	Value	IRS element (for citing)
BOY	$251,304,389	BOYAmt
EOY	$250,056,162	EOYAmt

Escrow Account Liability EscrowAccountLiabilityGrp

Field	Value	IRS element (for citing)
BOY	$2,122,200	BOYAmt
EOY	$2,432,107	EOYAmt

Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp

Field	Value	IRS element (for citing)
BOY	$67,150,767	BOYAmt
EOY	$59,717,509	EOYAmt

Unsecured Notes Loans Payable UnsecuredNotesLoansPayableGrp

Field	Value	IRS element (for citing)
BOY	$250,000,000	BOYAmt
EOY	$250,000,000	EOYAmt

Other Liabilities OtherLiabilitiesGrp

Field	Value	IRS element (for citing)
BOY	$124,336,475	BOYAmt
EOY	$114,906,033	EOYAmt

Total Liabilities TotalLiabilitiesGrp

Field	Value	IRS element (for citing)
BOY	$782,553,773	BOYAmt
EOY	$802,519,631	EOYAmt

Field	Value	IRS element (for citing)
Organization Follows FASB117	Yes (X)	OrganizationFollowsFASB117Ind

No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp

Field	Value	IRS element (for citing)
BOY	$763,494,514	BOYAmt
EOY	$824,360,176	EOYAmt

Donor Restriction Net Assets DonorRestrictionNetAssetsGrp

Field	Value	IRS element (for citing)
BOY	$1,026,436,169	BOYAmt
EOY	$1,028,279,317	EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

Field	Value	IRS element (for citing)
BOY	$1,789,930,683	BOYAmt
EOY	$1,852,639,493	EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

Field	Value	IRS element (for citing)
BOY	$2,572,484,456	BOYAmt
EOY	$2,655,159,124	EOYAmt

Field	Value	IRS element (for citing)
Reconcilation Revenue Expnss	$32,067,449	ReconcilationRevenueExpnssAmt
Net Unrlzd Gains Losses Invst	$30,641,361	NetUnrlzdGainsLossesInvstAmt
Other Changes In Net Assets	$0	OtherChangesInNetAssetsAmt
Method Of Accounting Accrual	Yes (X)	MethodOfAccountingAccrualInd
Accountant Compile Or Review	0	AccountantCompileOrReviewInd
FS Audited	Yes (1)	FSAuditedInd

FS Audited Basis FSAuditedBasisGrp

Field	Value	IRS element (for citing)
Consolidated Basis Fincl Stmt	Yes (X)	ConsolidatedBasisFinclStmtInd

Field	Value	IRS element (for citing)
Audit Committee	Yes (1)	AuditCommitteeInd
Federal Grant Audit Required	Yes (1)	FederalGrantAuditRequiredInd
Federal Grant Audit Performed	Yes (1)	FederalGrantAuditPerformedInd

Schedule A IRS990ScheduleA

Field	Value	IRS element (for citing)
School	Yes (X)	SchoolInd

Gifts Grants Contri Rcvd170 GiftsGrantsContriRcvd170Grp

Field	Value	IRS element (for citing)
Current Tax Year Minus4 Years	$112,285,982	CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years	$86,034,682	CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years	$119,975,960	CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year	$123,550,270	CurrentTaxYearMinus1YearAmt
Current Tax Year	$74,090,708	CurrentTaxYearAmt
Total	$515,937,602	TotalAmt

Total Calendar Year170 TotalCalendarYear170Grp

Field	Value	IRS element (for citing)
Current Tax Year Minus4 Years	$112,285,982	CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years	$86,034,682	CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years	$119,975,960	CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year	$123,550,270	CurrentTaxYearMinus1YearAmt
Current Tax Year	$74,090,708	CurrentTaxYearAmt
Total	$515,937,602	TotalAmt

Field	Value	IRS element (for citing)
Substantial Contributors Tot	$47,919,013	SubstantialContributorsTotAmt
Public Support Total170	$468,018,589	PublicSupportTotal170Amt

Gross Investment Income170 GrossInvestmentIncome170Grp

Field	Value	IRS element (for citing)
Current Tax Year Minus4 Years	$22,560,259	CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years	$28,674,336	CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years	$22,303,989	CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year	$36,247,457	CurrentTaxYearMinus1YearAmt
Current Tax Year	$31,062,203	CurrentTaxYearAmt
Total	$140,848,244	TotalAmt

Unrelated Business Net Incm170 UnrelatedBusinessNetIncm170Grp

Field	Value	IRS element (for citing)
Current Tax Year Minus4 Years	$163,106	CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years	$37,539	CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years	$51,322	CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year	$367,485	CurrentTaxYearMinus1YearAmt
Current Tax Year	$766,598	CurrentTaxYearAmt
Total	$1,386,050	TotalAmt

Other Income170 OtherIncome170Grp

Field	Value	IRS element (for citing)
Current Tax Year Minus4 Years	$736,179	CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years	$793,935	CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years	$2,015,064	CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year	$3,470,237	CurrentTaxYearMinus1YearAmt
Current Tax Year	$4,884,236	CurrentTaxYearAmt
Total	$11,899,651	TotalAmt

Field	Value	IRS element (for citing)
Total Support	$670,071,547	TotalSupportAmt
Gross Receipts Rltd Activities	$1,940,916,675	GrossReceiptsRltdActivitiesAmt
Public Support CY170	0.69850	PublicSupportCY170Pct
Public Support PY170	0.75940	PublicSupportPY170Pct
Thirty Thr Pct Suprt Tests CY170	Yes (X)	ThirtyThrPctSuprtTestsCY170Ind

Form990 Schedule A Part VI Form990ScheduleAPartVIGrp

Field	Value	IRS element (for citing)
Form And Line Reference	Schedule A, Part II	FormAndLineReferenceDesc
Explanation	The filing organization is classified as a school under Internal Revenue Code ("IRC") Section 170(b)(1)(A)(ii). However, it also meets the 33 1/3% Support Test of IRC Section 170(b)(1)(A)(vi) for purposes of limiting the charitable gift disclosures to 2%, using the Special Rule on Schedule B. Therefore, Schedule A, Part II is completed in order to utilize the Schedule B Special 2% Rule. Schedule A, Part II, Section C, Line 10 Miscellaneous Income 4,884,236	ExplanationTxt

Schedule B IRS990ScheduleB

Contributor Information ContributorInformationGrp

Field	Value	IRS element (for citing)
Contributor	RESTRICTED	ContributorNum

Contributor Business Name ContributorBusinessName

Field	Value	IRS element (for citing)
Business Name Line1	RESTRICTED	BusinessNameLine1

Contributor US Address ContributorUSAddress

Field	Value	IRS element (for citing)
Address Line1	RESTRICTED	AddressLine1
Address Line2	RESTRICTED	AddressLine2
City	RESTRICTED	City
State	RESTRICTED	State
ZIP Code	RESTRICTED	ZIPCode

Field	Value	IRS element (for citing)
Total Contributions	RESTRICTED	TotalContributionsAmt

Schedule C IRS990ScheduleC

Field	Value	IRS element (for citing)
Volunteers	0	VolunteersInd
Paid Staff Or Management	0	PaidStaffOrManagementInd
Media Advertisements	0	MediaAdvertisementsInd
Mailings Members	0	MailingsMembersInd
Publications Or Broadcast	0	PublicationsOrBroadcastInd
Grants Other Organizations	0	GrantsOtherOrganizationsInd
Direct Contact Legislators	Yes (1)	DirectContactLegislatorsInd
Direct Contact Legislators	$74,691	DirectContactLegislatorsAmt
Rallies Demonstrations	0	RalliesDemonstrationsInd
Other Activities	0	OtherActivitiesInd
Total Lobbying Expenditures	$74,691	TotalLobbyingExpendituresAmt
Not Described Section501c3	0	NotDescribedSection501c3Ind

Supplemental Information Detail SupplementalInformationDetail

Field	Value	IRS element (for citing)
Form And Line Reference	Part II-B, Line 1:	FormAndLineReferenceDesc
Explanation	The filing organization's employees will sometimes make direct contact with legislators, their staff, government officials, or a legislative body. Such employees were actively involved with several federal and state issues during the year, including federal and state appropriations legislation, various authorizing bills as well as legislation governing higher education at state and federal levels. Activities included participation in numerous conference calls, webex meetings and one-on-one calls with congressional members and staffers at the federal and state level. The University's Government Relations personnel regularly engaged with various federal agencies related to higher education policy and worked closely with national associations with which the filing organization is associated, which represent the interests of institutions of higher education in Washington. At the state level, activities focused on work surrounding the State Budget as well as several policy related bills that impacted higher education. We worked to increase funding for State scholarships that benefit our students as well as legislation impacting our region.	ExplanationTxt

Schedule D IRS990ScheduleD

Field	Value	IRS element (for citing)
Collection Used Pub Exhibition	Yes (X)	CollectionUsedPubExhibitionInd
Coll Used Scholarly Rsrch	Yes (X)	CollUsedScholarlyRsrchInd
Collection Used Preservation	Yes (X)	CollectionUsedPreservationInd
Solicited Assets Sale	0	SolicitedAssetsSaleInd
Agent Trustee Etc	Yes (1)	AgentTrusteeEtcInd
Beginning Balance	$1,998,348	BeginningBalanceAmt
Distributions During Year	$721,643	DistributionsDuringYearAmt
Ending Balance	$1,276,705	EndingBalanceAmt
Incl Escrow Custodial Acct Liab	Yes (1)	InclEscrowCustodialAcctLiabInd
Explanation Provided	Yes (X)	ExplanationProvidedInd

CY Endwmt Fund CYEndwmtFundGrp

Field	Value	IRS element (for citing)
Beginning Year Balance	$1,028,313,070	BeginningYearBalanceAmt
Contributions	$22,761,746	ContributionsAmt
Investment Earnings Or Losses	$45,582,528	InvestmentEarningsOrLossesAmt
Grants Or Scholarships	$22,817,209	GrantsOrScholarshipsAmt
Other Expenditures	$18,815,699	OtherExpendituresAmt
Administrative Expenses	$7,382,014	AdministrativeExpensesAmt
End Year Balance	$1,047,642,422	EndYearBalanceAmt

CY Minus1 Yr Endwmt Fund CYMinus1YrEndwmtFundGrp

Field	Value	IRS element (for citing)
Beginning Year Balance	$1,038,917,229	BeginningYearBalanceAmt
Contributions	$24,601,826	ContributionsAmt
Investment Earnings Or Losses	$9,579,810	InvestmentEarningsOrLossesAmt
Grants Or Scholarships	$20,685,552	GrantsOrScholarshipsAmt
Other Expenditures	$17,294,766	OtherExpendituresAmt
Administrative Expenses	$6,805,477	AdministrativeExpensesAmt
End Year Balance	$1,028,313,070	EndYearBalanceAmt

CY Minus2 Yr Endwmt Fund CYMinus2YrEndwmtFundGrp

Field	Value	IRS element (for citing)
Beginning Year Balance	$819,123,414	BeginningYearBalanceAmt
Contributions	$24,284,516	ContributionsAmt
Investment Earnings Or Losses	$235,533,467	InvestmentEarningsOrLossesAmt
Grants Or Scholarships	$18,772,673	GrantsOrScholarshipsAmt
Other Expenditures	$15,475,231	OtherExpendituresAmt
Administrative Expenses	$5,776,264	AdministrativeExpensesAmt
End Year Balance	$1,038,917,229	EndYearBalanceAmt

CY Minus3 Yr Endwmt Fund CYMinus3YrEndwmtFundGrp

Field	Value	IRS element (for citing)
Beginning Year Balance	$837,211,471	BeginningYearBalanceAmt
Contributions	$21,436,980	ContributionsAmt
Investment Earnings Or Losses	$2,431,225	InvestmentEarningsOrLossesAmt
Grants Or Scholarships	$19,509,779	GrantsOrScholarshipsAmt
Other Expenditures	$16,254,628	OtherExpendituresAmt
Administrative Expenses	$6,191,855	AdministrativeExpensesAmt
End Year Balance	$819,123,414	EndYearBalanceAmt

CY Minus4 Yr Endwmt Fund CYMinus4YrEndwmtFundGrp

Field	Value	IRS element (for citing)
Beginning Year Balance	$792,516,828	BeginningYearBalanceAmt
Contributions	$38,438,253	ContributionsAmt
Investment Earnings Or Losses	$48,975,003	InvestmentEarningsOrLossesAmt
Grants Or Scholarships	$19,930,228	GrantsOrScholarshipsAmt
Other Expenditures	$17,214,089	OtherExpendituresAmt
Administrative Expenses	$5,574,296	AdministrativeExpensesAmt
End Year Balance	$837,211,471	EndYearBalanceAmt

Field	Value	IRS element (for citing)
Board Designated Balance EOY	0.22240	BoardDesignatedBalanceEOYPct
Prmnnt Endowment Balance EOY	0.47210	PrmnntEndowmentBalanceEOYPct
Term Endowment Balance EOY	0.30550	TermEndowmentBalanceEOYPct
Endowments Held Unrelated Org	0	EndowmentsHeldUnrelatedOrgInd
Endowments Held Related Org	Yes (1)	EndowmentsHeldRelatedOrgInd
Related Org List Sch R	Yes (1)	RelatedOrgListSchRInd

Land LandGrp

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	$19,740,975	OtherCostOrOtherBasisAmt
Book Value	$19,740,975	BookValueAmt

Buildings BuildingsGrp

Field	Value	IRS element (for citing)
Investment Cost Or Other Basis	$56,991,221	InvestmentCostOrOtherBasisAmt
Other Cost Or Other Basis	$583,542,798	OtherCostOrOtherBasisAmt
Depreciation	$297,744,277	DepreciationAmt
Book Value	$342,789,742	BookValueAmt

Leasehold Improvements LeaseholdImprovementsGrp

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	$414,631,908	OtherCostOrOtherBasisAmt
Depreciation	$189,618,820	DepreciationAmt
Book Value	$225,013,088	BookValueAmt

Equipment EquipmentGrp

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	$201,185,151	OtherCostOrOtherBasisAmt
Depreciation	$128,813,758	DepreciationAmt
Book Value	$72,371,393	BookValueAmt

Other Land Buildings OtherLandBuildingsGrp

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	$78,987,437	OtherCostOrOtherBasisAmt
Depreciation	$10,361,135	DepreciationAmt
Book Value	$68,626,302	BookValueAmt

Field	Value	IRS element (for citing)
Total Book Value Land Buildings	$728,541,500	TotalBookValueLandBuildingsAmt

Other Securities OtherSecuritiesGrp (6 entries)

DescDesc	Book ValueBookValueAmt	Method ValuationMethodValuationCd
Interests in Perpetual Trusts	$12,925,204	F
Private Equity	$472,212	F
Absolute Return Invtmts	$1,181,514,701	F
Real Estate-Commercial	$7,559,860	F
Other Investments	$13,698,048	F
commodities	$9,335,125	F

Field	Value	IRS element (for citing)
Total Book Value Securities	$1,225,505,150	TotalBookValueSecuritiesAmt

Other Liabilities Org OtherLiabilitiesOrgGrp (5 entries)

DescDesc	AmtAmt
Annuities Payable	$18,924,152
Other Liabilities and Deferrals	$39,006,889
Postretirement Benefits	$11,548,896
Bond Premium	$23,065,276
Operating Lease Obligations	$22,360,820

Field	Value	IRS element (for citing)
Total Liability	$114,906,033	TotalLiabilityAmt
Footnote Text	Yes (X)	FootnoteTextInd
Total Rev Etc Audited Fincl Stmt	$591,003,770	TotalRevEtcAuditedFinclStmtAmt
Net Unrealized Gains Invst	$30,641,361	NetUnrealizedGainsInvstAmt
Other Revenue	-$126,197,442	OtherRevenueAmt
Revenue Not Reported	-$95,556,081	RevenueNotReportedAmt
Revenue Subtotal	$686,559,851	RevenueSubtotalAmt
Other Revenues Not Included	$300,339	OtherRevenuesNotIncludedAmt
Revenue Not Reported Fincl Stmt	$300,339	RevenueNotReportedFinclStmtAmt
Total Revenue Per Form990	$686,860,190	TotalRevenuePerForm990Amt
Tot Expns Etc Audited Fincl Stmt	$528,294,960	TotExpnsEtcAuditedFinclStmtAmt
Other Expenses Included	-$300,339	OtherExpensesIncludedAmt
Expenses Not Reported	-$300,339	ExpensesNotReportedAmt
Expenses Subtotal	$528,595,299	ExpensesSubtotalAmt
Other Expenses Not Included	$126,197,442	OtherExpensesNotIncludedAmt
Expenses Not Rpt Fincl Stmt	$126,197,442	ExpensesNotRptFinclStmtAmt
Total Expenses Per Form990	$654,792,741	TotalExpensesPerForm990Amt

Supplemental Information Detail SupplementalInformationDetail (10 entries)

Form And Line ReferenceFormAndLineReferenceDesc	ExplanationExplanationTxt
Part III, Line 1a:	The Consolidated Financial Statements do not contain a footnote regarding the University's art or museum collections. The collections are valued at approximately $18 million.
Part III, Line 4:	The organization has collections of art, rare books, and artifacts within its facilities. These collections enhance the education of its students and provide research materials for its faculty. Artwork is displayed in many buildings on the organization's campus, accessible to students, employees, and visitors.
Part IV, Line 1b:	Certain endowment assets are held and managed for the filing organization and related organizations. The value of these assets allocated to related organizations is reported here and not shown on the filing organization's balance sheet.
Part IV, Line 2b:	Agency accounts are held to provide supervision and banking ability for small student clubs and organizations that are formed by the current student body and may or may not last past the graduation of the members. The University fosters the students' desire to form associations that can function as a social unit on campus.
Part V, Line 4:	Approximately 54.81% of the expendable endowment funds provided scholarships for Wake Forest University students during the fiscal year. 20.97% was distributed for department chair and faculty positions, including funds for research professorships. 24.22% supported educational programs generally, the libraries, general university operations, and other specific university needs, including infrastructure, and capital funding. Due to the fluctuations of university and student needs, these percentages may change from year to year.
Part X, Line 2:	The University is a tax-exempt organization as described in Section 501(c)(3) of the Internal Revenue Code (the Code) and is generally exempt from federal income taxes on related income pursuant to Section 501(a) of the Code. If applicable, unrelated business income is reported by all member and subsidiary organizations on IRS Form 990-T. Fiscal years ending on or after June 30, 2020 remain subject to examination by federal and state tax authorities. The University has evaluated uncertain tax positions for the year ended June 30, 2023, including a quantification of tax risks in areas such as unrelated business income and taxation of its for-profit subsidiaries. This evaluation did not identify any material items that effect the consolidated financial statements for the year ended June 30, 2023.
Part XI, Line 2d - Other Adjustments:	Scholarship Reclass -126,197,442.
Part XI, Line 4b - Other Adjustments:	Rent Expense Reclass -7,958,112. COGS Reclass -927,569. Fundraising Expense Reclass -24,696. Investment Management Fees Reclass 9,210,716.
Part XII, Line 2d - Other Adjustments:	Rent Expense Reclass 7,958,112. Fundraising Expense Reclass 927,569. COGS Reclass 24,696. Investment Management Fees Reclass -9,210,716.
Part XII, Line 4b - Other Adjustments:	Scholarship Reclass 126,197,442.

Schedule E IRS990ScheduleE

Field	Value	IRS element (for citing)
Nondiscriminatory Policy Stmt	Yes (1)	NondiscriminatoryPolicyStmtInd
Policy Stmt In Brochures Etc	Yes (1)	PolicyStmtInBrochuresEtcInd
Plcy Pblczd Via Broadcast Media	Yes (1)	PlcyPblczdViaBroadcastMediaInd
Maintain Racial Comp Recs	Yes (1)	MaintainRacialCompRecsInd
Maintain Scholarships Recs	Yes (1)	MaintainScholarshipsRecsInd
Maintain Cpy Of Brochures Etc	Yes (1)	MaintainCpyOfBrochuresEtcInd
Maintain Cpy Of All Sol	Yes (1)	MaintainCpyOfAllSolInd
Discriminate Race Stdnts Rghts	0	DiscriminateRaceStdntsRghtsInd
Discriminate Race Admiss Plcy	0	DiscriminateRaceAdmissPlcyInd
Discriminate Race Emplm Fculty	0	DiscriminateRaceEmplmFcultyInd
Discriminate Race Schs	0	DiscriminateRaceSchsInd
Discriminate Race Educ Plcy	0	DiscriminateRaceEducPlcyInd
Discriminate Race Use Of Fclts	0	DiscriminateRaceUseOfFcltsInd
Discriminate Race Athlt Prog	0	DiscriminateRaceAthltProgInd
Discriminate Race Other Acty	0	DiscriminateRaceOtherActyInd
Government Financial Aid Rcvd	Yes (1)	GovernmentFinancialAidRcvdInd
Government Financial Aid Rvkd	0	GovernmentFinancialAidRvkdInd
Compliance With Rev Proc7550	Yes (1)	ComplianceWithRevProc7550Ind

Supplemental Information Detail SupplementalInformationDetail (2 entries)

Form And Line ReferenceFormAndLineReferenceDesc

ExplanationExplanationTxt

Schedule E, Part I, Line 3

Wake Forest University is committed to diversity, inclusion, and the spirit of Pro Humanitate. In adherence with applicable laws and as provided by University policies, the University prohibits discrimination in its employment practices and its educational programs and activities on the basis of race, color, religion, national origin, sex, age, sexual orientation, gender identity and expression, genetic information, disability, and veteran status. Additionally, the University promotes the full realization of equal employment opportunity for women, minorities, persons with disabilities, and veterans through its affirmative action program. The University publishes its nondiscrimination policy on its web site and in the undergraduate bulletin, which is distributed to all students annually. Nondiscrimination language appears in employment advertising and in ads for the University's educational programs and is available at www.wfu.edu

Schedule E, Part I, Line 6

Wake Forest University participates in government loan and scholarship programs on behalf of its students. Funds are awarded to eligible students as part of the University's educational purpose. Funds are awarded to eligible students on a nondiscriminatory basis. In addition, government agencies award grants to the University for research.

Schedule F IRS990ScheduleF

Field	Value	IRS element (for citing)
Grant Records Maintained	Yes (1)	GrantRecordsMaintainedInd

Account Activities Outside US AccountActivitiesOutsideUSGrp (41 entries)

RegionRegionTxt	Type Of Activities ConductedTypeOfActivitiesConductedTxt	Specific Services ProvidedSpecificServicesProvidedTxt	Region Total ExpendituresRegionTotalExpendituresAmt	OfficesOfficesCnt
Central America & the Caribbean	Program Service	Athletic Events	$269,567
Central America & the Caribbean	Program Service	Conferences	$5,342
Central America & the Caribbean	Program Service	Study Abroad	$36,516
Central America & the Caribbean	Program Service	Services	$500
Central America & the Caribbean	Program Service	Research	$10,476
Central America & the Caribbean	Program Service	Fundraising	$4,079
East Asia & Pacific	Program Service	Study Abroad	$461,212	3
East Asia & Pacific	Program Service	Conferences	$15,056
East Asia & Pacific	Program Service	Services	$16,890
East Asia & Pacific	Program Service	Research	$66,364
East Asia & Pacific	Program Service	Recruiting	$19,868
Europe & North Atlantic	Program Service	Athletic Events	$261,477
Europe & North Atlantic	Program Service	Services	$34,906
Europe & North Atlantic	Program Service	Research	$383,216
Europe & North Atlantic	Program Service	Study Abroad	$12,557,863	9
Europe & North Atlantic	Program Service	Recruiting	$106,775
Europe & North Atlantic	Program Service	Conferences	$203,560
Europe & North Atlantic	Program Service	Depreciation on Foreign Assets	$260,149
Europe & North Atlantic	Program Service	Fundraising	$15,219
Middle East & North Africa	Program Services	Study Abroad	$11,388
Middle East & North Africa	Program Service	Research	$4,846
Middle East & North Africa	Program service	Conferences	$1,855
Middle East & North Africa	Program Services	Services	$3,390
North America	Program Service	Recruiting	$4,453
North America	Program Service	Research	$4,674
North America	Program Service	Conferences	$56,398
South America	Program Service	Study Abroad	$454,482	2
South America	Program Services	Recruiting	$9,422
South America	Program Services	Fundraising	$1,167
South America	Program Service	Depreciation on Foreign Assets	$21,115
South America	Program Service	Research	$1,756,425	3
South America	Program Service	Conferences	$5,503
South Asia	Program Service	Research	$11,519
South Asia	Program Services	Services	$6,030
South Asia	Program Service	Conferences	$3,137
South Asia	Program Services	Fundraising	$15,071
South Asia	Program Services	Recruiting	$33,019
Sub-Saharan Africa	Program Service	Conferences	$9,358
Sub-Saharan Africa	Program Service	Study Abroad	$55,836
Sub-Saharan Africa	Program Service	Research	$82,034	2
Sub-Saharan Africa	Program Service	Services	$350

Field	Value	IRS element (for citing)
Subtotal Offices	3	SubtotalOfficesCnt
Subtotal Employees	0	SubtotalEmployeesCnt
Continuation Total Office	16	ContinuationTotalOfficeCnt
Continuation Total Employee	0	ContinuationTotalEmployeeCnt
Total Office	19	TotalOfficeCnt
Total Employee	0	TotalEmployeeCnt
Subtotal Spent	$802,748	SubtotalSpentAmt
Continuation Spent	$16,477,759	ContinuationSpentAmt
Total Spent	$17,280,507	TotalSpentAmt

Grants To Org Outside US GrantsToOrgOutsideUSGrp (2 entries)

RegionRegionTxt	Purpose Of GrantPurposeOfGrantTxt	Cash GrantCashGrantAmt	Manner Of Cash DisbursementMannerOfCashDisbursementTxt	Non Cash AssistanceNonCashAssistanceAmt
Europe	Research Subcontract	$106,030	Check/Wire	$0
South America	Research Subcontract	$1,261,983	Check/Wire	$0

Field	Value	IRS element (for citing)
Total501c3 Org	8	Total501c3OrgCnt
Transfer To Foreign Corp	Yes (1)	TransferToForeignCorpInd
Interest In Foreign Trust	0	InterestInForeignTrustInd
Foreign Corp Ownership	Yes (1)	ForeignCorpOwnershipInd
Passive Foreign Investmest Co	Yes (1)	PassiveForeignInvestmestCoInd
Foreign Partnership	Yes (1)	ForeignPartnershipInd
Boycott Countries	Yes (1)	BoycottCountriesInd

Supplemental Information Detail SupplementalInformationDetail (4 entries)

Form And Line ReferenceFormAndLineReferenceDesc	ExplanationExplanationTxt
Part I, Line 2:	The organization provides funding to faculty for conferences, research and other projects and scholarships to students for study abroad, research and other projects. Faculty and staff expenses must be substantiated under the Accountable Plan to ensure proper use of funds. The Organization sometimes provides operating funds to collaborative organizations and charitable foreign organizations, generally expenditures are reimbursed upon the submission of appropriate documentation. Other activities funded in advance are subject to review for conformity with the approved budgets.
Part I, line 3:	The Organization uses the accrual method of accounting on its financial statements and all cash grants and noncash assistance is reported on Schedule F using this method.
Part III Accounting Method:
Part I Line 3f	Expenditures Per Region The Organization uses the accrual method of accounting on its financial statements, therefore all expenditures shown on Schedule F are based on that method. Program related assets held in the various regions are reported at net book value according to the organization's fixed asset ledger as of the end of the fiscal year. Part II, Line 1- Method of Accounting Grants and subcontracts are provided with the understanding that organizations will expend funds according to grant and subcontract agreements. Information is provided by the grantees to document that funds are expended or their intended purpose.

Schedule G IRS990ScheduleG

Fundraising Event Information FundraisingEventInformationGrp

Field	Value	IRS element (for citing)
Event1	Golf Tournament	Event1Nm
Gross Receipts Event1	$103,250	GrossReceiptsEvent1Amt
Charitable Contri Event1	$83,646	CharitableContriEvent1Amt
Gross Revenue Event1	$19,604	GrossRevenueEvent1Amt
Other Direct Expenses Event1	$8,599	OtherDirectExpensesEvent1Amt
Event2	Law Auction	Event2Nm
Gross Receipts Event2	$60,337	GrossReceiptsEvent2Amt
Charitable Contri Event2	$38,325	CharitableContriEvent2Amt
Gross Revenue Event2	$22,012	GrossRevenueEvent2Amt
Food And Beverage Event2	$1,216	FoodAndBeverageEvent2Amt
Other Direct Expenses Event2	$323	OtherDirectExpensesEvent2Amt
Other Events Total	2	OtherEventsTotalCnt
Gross Receipts Other Events	$9,603	GrossReceiptsOtherEventsAmt
Charitable Contri Other Events	$4,353	CharitableContriOtherEventsAmt
Gross Revenue Other Events	$5,250	GrossRevenueOtherEventsAmt
Oth Direct Expnss Other Events	$14,558	OthDirectExpnssOtherEventsAmt
Gross Receipts Total	$173,190	GrossReceiptsTotalAmt
Charitable Contributions Tot	$126,324	CharitableContributionsTotAmt
Gross Revenue Total Events	$46,866	GrossRevenueTotalEventsAmt
Food And Beverage Total Events	$1,216	FoodAndBeverageTotalEventsAmt
Oth Direct Expnss Total Events	$23,480	OthDirectExpnssTotalEventsAmt
Direct Expense Summary Events	$24,696	DirectExpenseSummaryEventsAmt
Net Income Summary	$22,170	NetIncomeSummaryAmt

Schedule I IRS990ScheduleI

Field	Value	IRS element (for citing)
Grant Records Maintained	Yes (1)	GrantRecordsMaintainedInd

Recipient Table RecipientTable (50 entries)

Address Line1USAddress/AddressLine1Txt	CityUSAddress/CityNm	State AbbreviationUSAddress/StateAbbreviationCd	ZIPUSAddress/ZIPCd	Recipient EINRecipientEIN	IRC SectionIRCSectionDesc	Cash GrantCashGrantAmt	Non Cash AssistanceNonCashAssistanceAmt	Purpose Of GrantPurposeOfGrantTxt
Reynolda House Inc
PO Box 7287	WinstonSalem	NC	27109	560810676	501(c)(3)	$663,356	$0	Operations Support
United Way of Forsyth County
301 North Main Street	WinstonSalem	NC	27101	237357234	501(c)(3)	$30,000	$0	Charitable Contribution
Duke University
324 Blackwell Street	Durham	NC	27701	560532129	501(c)(3)	$16,000	$0	Charitable Contribution
Leadership Winston-Salem
624 W Sixth St Ste 110	WinstonSalem	NC	27101	581574887	501(c)(3)	$10,000	$0	Sponsorship General Support
Wake Forest Univ Health Sciences
Medical Center Blvd	WinstonSalem	NC	27157	223849199	501(c)(3)	$1,253,361	$0	Research Subcontract
Brigham & Women's Hospital
399 Revolution Drive No 645	Somerville	MA	02145	042312909	501(c)(3)	$19,763	$0	Research Subcontract
Winston-Salem Alliance
100 North Main Street Suite	WinstonSalem	NC	27101	311726654	501(c)(6)	$10,300	$0	Support Local Econ Dev'mt
Piedmont Triad Partnership
PO Box 2672	High Point	NC	27261	561750279	501(c)(3)	$40,000	$0	Support Local Econ Dev'mt
Carnegie Mellon University
5000 Forbes Avenue	Pittsburgh	PA	25213	250969449	501(c)(3)	$254,411	$0	Research Subcontract
Rutgers University
65 Davidson Road	Piscataway	NJ	08854	226001086	501(c)(3)	$89,599	$0	Research Subcontract
University of Texas at Dallas
800 W Campbell Road	Richardson	TX	75080	751305566	Govt	$123,711	$0	Research Subcontract
Brown University
Controllers Office Box J	Providence	RI	02912	050258809	501(c)(3)	$55,465	$0	Research Subcontract
Princeton University
701 Carnegie Center Suite 445	Princeton	NJ	08540	210634501	501(c)(3)	$61,516	$0	Research Subcontract
Yale University
PO Box 208239	New Haven	CT	06520	060646973	501(c)(3)	$11,973	$0	Research Subcontract
La Noticia
5936 Monroe Road	Charlotte	NC	28212	204552470	501(c)(3)	$25,000	$0	Research Subcontract
George Mason University
4400 University Drive	Fairfax	VA	22030	540836354	Govt	$40,025	$0	Research Subcontract
Michigan State University
426 Auditorium Road	East Lansing	MI	48824	386005984	501(c)(3)	$49,327	$0	Research Subcontract
University of Chicago
5801 S Ellis Avenue	Chicago	IL	60637	362177139	501(c)(3)	$51,297	$0	Research Subcontract
University of Memphis
3720 Alumni Avenue	Memphis	TN	38152	620648618	501(c)(3)	$7,956	$0	Research Subcontract
University of Pennsylvannia
3451 Walnut Street	Philadelphia	PA	19104	231352685	501(c)(3)	$59,035	$0	Research Subcontract
University of Rochester
PO Box 278893	Rochester	NY	14627	160743209	501(c)(3)	$58,328	$0	Research Subcontract
Greater Winston-Salem Inc
411 West Fourth Street	WinstonSalem	NC	27101	560459820	501(c)(6)	$12,500	$0	Charitable Contribution
Second Harvest Food Bank of Northwest North Carolina
3655 Reed Street	WinstonSalem	NC	27107	581457912	501(c)(3)	$6,161	$0	Charitable Contribution
Vision Community Foundation
704 Ornewood Ave	Atlanta	GA	30312	870743282	501(c)(3)	$100,000	$0	Research Subcontract
Foundations for Living
232 Martin Luther King Dr	Jefferson	GA	30549	463794300	501(c)(3)	$50,000	$0	Research Subcontract
Relationship Unleashed
10 South Main St	Memphis	TN	38103	472296570	501(c)(3)	$50,000	$0	Research Subcontract
Fayetteville Area Health Education Foundation Inc
1601 Owen Dr	Fayetteville	NC	28304	561082675	501(c)(3)	$25,000	$0	Research Subcontract
Compassionate Atlanta Inc
PO Box 311408	Atlanta	GA	31131	473181026	501(c)(3)	$25,000	$0	Research Subcontract
Metropolitan Charities Inc
3251 3rd Avenue North	St Petersburg	FL	33713	593153947	501(c)(3)	$100,000	$0	Research Subcontract
Old North State Medical Society
204 Muirs Chapel Rd	Greensboro	NC	27410	566060861	501(c)(3)	$13,563	$0	Research Subcontract
North Carolina Black Repertory Company Inc
419 N Spruce St	WinstonSalem	NC	27101	581518704	501(c)(3)	$33,400	$0	Research Subcontract
Miracle of Love Inc
1301 W Colonial Drive	Orlando	FL	32804	593455949	501(c)(3)	$50,000	$0	Research Subcontract
The Pennsylvania State University
201 Old Main University Par	State College	PA	16801	246000376	Govt	$64,267	$0	Research Subcontract
The Regents of the University of Colorado
3100 Marine Street	Boulder	CO	80309	846000555	Govt	$87,169	$0	Research Subcontract
UNC Greensboro
1000 Spring Garden Street	Greensboro	NC	27412	566001468	Govt	$22,479	$0	Research Subcontract
WhatsintheMirror
PO Box 5385	Round Rock	TX	78683	811417075	501(c)(3)	$26,666	$0	Research Subcontract
Creative Visions Foundation
18820 Pacific Coast Hwy Ste 201	Malibu	CA	90265	391902814	501(c)(3)	$26,666	$0	Research Subcontract
Fractured Atlas Inc
228 Park Avenue South 56651	New York	NY	10003	113451703	501(c)(3)	$26,666	$0	Research Subcontract
Health Awareness For Life Inc
5860 NW 18th Ct	Sunrise	FL	33313	474926677	501(c)(3)	$25,000	$0	Research Subcontract
Hight Impacto Inc
2221 SW 36th Ave	Fort Lauderdale	FL	33312	812414283	501(c)(3)	$45,000	$0	Research Subcontract
Interfaith America
141 W Jackson Blvd Ste 3200	Chicago	IL	60604	300212534	501(c)(3)	$150,000	$0	Research Subcontract
InterVarsity Christian FellowshipUSA
PO Box 7895	Madison	WI	53707	362171714	501(c)(3)	$25,000	$0	Research Subcontract
Resource Center for Women and Ministry in the South
1202 Watts St	Durham	NC	27701	591766535	501(c)(3)	$100,000	$0	Research Subcontract
Selma AIR Inc
102 Central Park Pl	Selma	AL	36701	631133272	501(c)(3)	$50,000	$0	Research Subcontract
Texas Health Action
PO Box 16431	Austin	TX	78761	473809253	501(c)(3)	$24,750	$0	Research Subcontract
Together for Hope
8 Natchez Cv	Clinton	MS	39056	870835491	501(c)(3)	$100,000	$0	Research Subcontract
Virginia Tech
925 Prices Fork Road	Blacksburg	VA	24061	546001805	Govt	$6,688	$0	Research Subcontract
American Forensic Association
222 Austin Street Sherry Hall	Newton	MA	02465	386069238	501(c)(3)	$134,750	$0	Charitable Contribution
Old Hickory Council INC
6600 Silas Creek Pkwy	WinstonSalem	NC	27106	560529985	501(c)(3)	$7,500	$0	Charitable Contribution
Public School Forum of NC Inc
1017 Main Campus Drive Suite 2300	Raleigh	NC	27603	581654064	501(c)(3)	$10,000	$0	Charitable Contribution

Field	Value	IRS element (for citing)
Total501c3 Org	48	Total501c3OrgCnt
Total Other Org	2	TotalOtherOrgCnt

Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp (7 entries)

Grant TypeGrantTypeTxt	RecipientRecipientCnt	Cash GrantCashGrantAmt
Departmental Scholarships	1061	$2,946,399
Grants for Student Travel	73	$22,089
General Tuition Scholarships	3393	$105,391,406
Tuition Concessions	152	$6,784,633
ROTC Scholarships	28	$130,000
Study Abroad Scholarships	247	$3,379,282
Third Party Scholarships	657	$2,598,948

Supplemental Information Detail SupplementalInformationDetail

Field	Value	IRS element (for citing)
Form And Line Reference	Part I, Line 2:	FormAndLineReferenceDesc
Explanation	Wake Forest University carefully selects qualified exempt organizations for its contributions and provides support for worthy projects and events in which the University has an interest. Grants provided to students are monitored either through use -for University tuition and fees- or by requiring substantiation from the students for research projects or scholastic travel grants. Research subcontracts are passed through to qualifying research institutes to complete a portion of externally funded sponsored projects awarded to Wake Forest University. Wake Forest University monitors these subcontracts to ensure that the subrecipients are in compliance with federal regulations and terms and conditions cascading down from the prime awards. The subrecipient's requests for reimbursement are reviewed for allowability of costs. Interim and final reporting is monitored to ensure adherence to performance expectations as set out in the scope of work.	ExplanationTxt

Schedule J IRS990ScheduleJ

Field	Value	IRS element (for citing)
First Class Or Charter Travel	Yes (X)	FirstClassOrCharterTravelInd
Travel For Companions	Yes (X)	TravelForCompanionsInd
Idemnification Gross Up Pmts	Yes (X)	IdemnificationGrossUpPmtsInd
Discretionary Spending Acct	Yes (X)	DiscretionarySpendingAcctInd
Housing Allowance Or Residence	Yes (X)	HousingAllowanceOrResidenceInd
Club Dues Or Fees	Yes (X)	ClubDuesOrFeesInd
Personal Services	Yes (X)	PersonalServicesInd
Written Policy Ref T And E Expnss	Yes (1)	WrittenPolicyRefTAndEExpnssInd
Substantiation Required	Yes (1)	SubstantiationRequiredInd
Compensation Committee	Yes (X)	CompensationCommitteeInd
Independent Consultant	Yes (X)	IndependentConsultantInd
Form990 Of Other Organizations	Yes (X)	Form990OfOtherOrganizationsInd
Written Employment Contract	Yes (X)	WrittenEmploymentContractInd
Compensation Survey	Yes (X)	CompensationSurveyInd
Board Or Committee Approval	Yes (X)	BoardOrCommitteeApprovalInd
Severance Payment	0	SeverancePaymentInd
Supplemental Nonqual Rtr Plan	Yes (1)	SupplementalNonqualRtrPlanInd
Equity Based Comp Arrngm	0	EquityBasedCompArrngmInd
Comp Based On Revenue Of Flng Org	0	CompBasedOnRevenueOfFlngOrgInd
Comp Bsd On Rev Related Orgs	0	CompBsdOnRevRelatedOrgsInd
Comp Bsd Net Earns Flng Org	0	CompBsdNetEarnsFlngOrgInd
Comp Bsd Net Earns Rltd Orgs	0	CompBsdNetEarnsRltdOrgsInd
Any Non Fixed Payments	Yes (1)	AnyNonFixedPaymentsInd
Initial Contract Exception	0	InitialContractExceptionInd

Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (16 entries)

TitleTitleTxt	Base Compensation Filing OrgBaseCompensationFilingOrgAmt	Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt	Bonus Filing OrganizationBonusFilingOrganizationAmount	Bonus Related OrganizationsBonusRelatedOrganizationsAmt	Other Compensation Filing OrgOtherCompensationFilingOrgAmt	Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt	Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt	Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt	Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt	Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt	Total Compensation Filing OrgTotalCompensationFilingOrgAmt	Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt	Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt	Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt
Julie A Freischlag MD
EVP Health Aff.	$0	$2,280,990	$0	$2,286,000	$0	$588,938	$0	$641,866	$0	$26,230	$0	$5,824,024	$0	$513,500
David P Clawson
Football Coach	$4,565,341	$0	$75,000	$0	$68,680	$0	$30,500	$0	$41,889	$0	$4,781,410	$0	$0	$0
Steve Forbes
Men's BktBall Co	$1,955,657	$0	$1,074,000	$0	$38,522	$0	$15,250	$0	$30,004	$0	$3,113,433	$0	$0	$0
Susan R Wente PhD
President & Trustee	$988,512	$0	$280,000	$0	$129,657	$0	$240,250	$0	$73,821	$0	$1,712,240	$0	$0	$0
Warren D Ruggiero
F'ball Offensive Coordinator	$991,736	$0	$50,000	$0	$11,639	$0	$30,500	$0	$26,710	$0	$1,110,585	$0	$0	$0
John A Currie
Director of Athletics	$761,241	$0	$150,000	$0	$43,547	$0	$97,875	$0	$43,375	$0	$1,096,038	$0	$0	$0
Nathan O Hatch
Former President	$936,358	$0	$0	$0	$29,603	$0	$30,500	$0	$28,841	$0	$1,025,302	$0	$0	$0
B Hofler Milam
EVP, CFO, Treas	$673,495	$0	$40,000	$0	$20,844	$0	$230,500	$0	$31,254	$0	$996,093	$0	$0	$0
Michele Gillespie PhD
Provost	$523,618	$0	$40,000	$0	$262,962	$0	$80,500	$0	$30,542	$0	$937,622	$0	$210,675	$0
Rogan Kersh PhD
Former Provost	$624,558	$0	$40,000	$0	$207,506	$0	$30,500	$0	$27,129	$0	$929,693	$0	$150,000	$0
Brad Lambert
F'ball Defensive Coordinator	$770,863	$0	$0	$0	$27,465	$0	$15,250	$0	$25,588	$0	$839,166	$0	$0	$0
Mark A Petersen
VP - Advancement	$562,943	$0	$60,000	$0	$29,485	$0	$116,010	$0	$49,613	$0	$818,051	$0	$0	$0
J Reid Morgan
S.VP, Sec, G.C.	$551,895	$0	$75,000	$0	$20,845	$0	$105,500	$0	$36,713	$0	$789,953	$0	$0	$0
Charles L Iacovou PhD
Dean, School of Professional Studies	$457,621	$0	$35,000	$0	$10,789	$0	$105,500	$0	$25,555	$0	$634,465	$0	$0	$0
Anthony P Marsh
Interim Dean, Wake Forest College	$259,170	$0	$0	$0	$268	$0	$24,041	$0	$61,513	$0	$344,992	$0	$0	$0
Anita M Conrad
Asst Secretary	$200,926	$0	$0	$0	$396	$0	$21,108	$0	$22,287	$0	$244,717	$0	$0	$0

Supplemental Information Detail SupplementalInformationDetail (4 entries)

Form And Line ReferenceFormAndLineReferenceDesc	ExplanationExplanationTxt
Part I, Line 1a	Charter and First-Class Travel: Charter and First-Class travel are sometimes made available for various business and scheduling needs of the officers who are traveling. Athletics personnel sometimes use charters for team travel. Chartered flights are sometimes provided by donors to the university. As such travel is for business purposes only, it is not treated as taxable. Travel for companions: Reimbursed spousal travel is allowed per the filing organization's policy when pursuant to a bona fide business purpose. To the extent that there is a business purpose for the travel, it is not treated as taxable. Tax indemnification and gross-up payments: Individuals may have certain payments grossed up at the discretion of the President, Board of Trustees, CFO, or as provided by their employment contract. All such payments are considered taxable. Discretionary spending account: The President has a discretionary spending account. Any expenses deemed personal are treated as taxable compensation. Residence & personal services: The President is provided lodging for the convenience of the University as a condition of the President's employment, and as such, pursuant to IRC Section 119, it is not deemed a taxable benefit. Certain services, such as cleaning, landscaping and maintenance, are provided as part of the operation of the President's University-owned residence. The value of cleaning attributed to personal spaces is included in the President's taxable income. Social club dues: Social club dues are provided by the University when membership fulfills a university business purpose. All such dues are included in taxable compensation when applicable.
Part I, Line 4b	Line 4b payments - included in Schedule J, column(C): The compensation of Dr. Susan R. Wente, President of Wake Forest University, includes $225,000 shown in Schedule J, Part II, Column C, from her participation in a deferred compensation arrangement. The compensation of B. Hofler Milam, EVP, CFO, and Treasurer includes $200,000 shown in Schedule J, Part II, Column C, from his participation in a deferred compensation arrangement. The compensation of Rogan Kersh, Provost through June 30, 2022, includes a deferred compensation payout of $200,600 which is included in his 2022 Form W-2 and in column Biii. $150,000 of that payment is shown in Schedule J, Part II, Column F and has been previously reported on a prior year Form 990. The compensation of J. Reid Morgan, Senior Vice President and General Counsel, includes $75,000 shown in Schedule J, Part II, Column C, from his participation in a deferred compensation arrangement. The compensation of Mark A. Petersen, VP Advancement, includes $85,000 from participation in a deferred compensation arrangement included in Schedule J, Part II, Column C. The compensation of Michele Gillespie, Provost effective July 1, 2022, includes a deferred compensation payout of $249,214 which is included in her 2022 Form W-2 and in column Biii. $210,675 of that payment is shown in Schedule J, Part II, Column F and has been previously reported on a prior year Form 990. Her compensation also includes $50,000 shown in Schedule J, Part II, Column C, from her participation in a deferred compensation arrangement. The compensation of Charles Iacovou, Dean of Wake Forest School of Professional Studies and Former Dean of Wake Forest School of Business, includes $75,000 from participation in a deferred compensation arrangement included in Schedule J, Part II, Column C. The compensation of John Currie, Athletic Director, includes includes $75,000 from participation in a deferred compensation arrangement included in Schedule J, Part II, Column C. The compensation of Julie Ann Freischlag M.D., Executive Vice President for Health Affairs, includes an accrual of $396,368 on her deferred compensation arrangement (included in Column C). All compensation to Dr. Freischlag is paid by a related organization as described later in Sch J, Part III.
Part I, Line 7	Various Officers and Key Employees have incentive compensation components contained in their employment agreements. These are often goal-based and are determined in the course of evaluation of the employee's performance by his or her supervisor or the compensation committee of the filing organization's board, as applicable. Others are awarded discretionary amounts, but within budgetary constraints. Other non-fixed payments may include sums for relocation that are typically included as a provision in an employment agreement. All such payments are reflected on the individual's W-2 when applicable.
Schedule J, Part II	The following individuals have amounts included in Schedule J, column D (nontaxable benefits) for tuition provided to family members under the Wake Forest University Tuition Concession Plan for Dependent Children. David P. Clawson: $9,784 John A. Currie: $11,594 Anthony P. Marsh: $36,514 Mark A. Peterson: $22,750 Warren D. Ruggiero: $5,797 All compensation provided to Julie Ann Freischlag M.D. (Current EVP- Health Affairs) was paid by a related organization, Wake Forest University Health Sciences (WFUHS), for her service as an employees of that related organization (and other related and affiliated organizations comprising the academic medical center of which the filing organization's Medical School is a part) and not for any of her services as an officer or former officer of the filing organization. Wake Forest University Baptist Medical Center (WFUBMC) is the organization that has been delegated authority to operate WFUHS and the North Carolina Baptist Hospital (NCBH), an unrelated but affiliated organization, and all of the respective subsidiaries of each of WFUHS and NCBH. Filing organization Wake Forest University (WFU) is one of three Members of WFUBMC; the other two Members are NCBH and Atrium Health, Inc.

Schedule K IRS990ScheduleK

Tax Exempt Bonds Issues TaxExemptBondsIssuesGrp (2 entries)

Bond ReferenceBondReferenceCd	Bond Issuer EINBondIssuerEIN	CUSIPCUSIPNum	Bond IssuedBondIssuedDt	Issue PriceIssuePriceAmt	PurposePurposeDesc	DefeasedDefeasedInd	On Behalf Of IssuerOnBehalfOfIssuerInd	Pool FinancingPoolFinancingInd
NC Capital Facs Fin Agency
A	561592154	65818PKVO	2016-07-27	$190,092,829	See Part VI	0	0	0
NC Capital Facs Fin Agency
B	561592154	65818PMZ9	2018-07-26	$107,737,205	See Part VI	0	0	0

Tax Exempt Bonds Proceeds TaxExemptBondsProceedsGrp (2 entries)

Bond ReferenceBondReferenceCd	RetiredRetiredAmt	Total ProceedsTotalProceedsAmt	Capitalized InterestCapitalizedInterestAmt	Issuance Costs From ProceedsIssuanceCostsFromProceedsAmt	Capital ExpendituresCapitalExpendituresAmt	Other Spent ProceedsOtherSpentProceedsAmt	Substantial CompletionSubstantialCompletionYr	Refunding Tax Exempt BondsRefundingTaxExemptBondsInd	Refunding Taxable BondsRefundingTaxableBondsInd	Final Allocation MadeFinalAllocationMadeInd	Adequate Books And Rec MaintAdequateBooksAndRecMaintInd
A	$3,945,000	$190,248,809	$2,170,879	$1,214,783	$65,163,737	$121,699,410	2019	Yes (1)	Yes (1)	Yes (1)	Yes (1)
B		$108,558,082	$3,594,340	$818,325	$104,145,417		2021	0	0	Yes (1)	Yes (1)

Tax Exempt Bonds Private Bus Use TaxExemptBondsPrivateBusUseGrp (2 entries)

Bond ReferenceBondReferenceCd	Owning Bond Financed PropertyOwningBondFinancedPropertyInd	Any Lease ArrangementsAnyLeaseArrangementsInd	Mgmt Contract Bond Fincd PropMgmtContractBondFincdPropInd	Engage Bond Counsel ContractsEngageBondCounselContractsInd	Any Research AgreementsAnyResearchAgreementsInd	Private Bus Use By OthersPrivateBusUseByOthersPct	Private Bus Concerning UBIPrivateBusConcerningUBIPct	Total Private Business UseTotalPrivateBusinessUsePct	Bond Iss Meet Prvt Sec Pymt TestBondIssMeetPrvtSecPymtTestInd	Change In Use Bond Financed PropChangeInUseBondFinancedPropInd	Procs Nonqualified Bond RemdtdProcsNonqualifiedBondRemdtdInd
A	0	Yes (1)	Yes (1)	Yes (1)	0	0.00650	0.00260	0.00910	0	0	Yes (1)
B	0	0	Yes (1)	Yes (1)	0	0.00780		0.00780	0	0	Yes (1)

Tax Exempt Bonds Arbitrage TaxExemptBondsArbitrageGrp (2 entries)

Bond ReferenceBondReferenceCd	Form8038 T FiledForm8038TFiledInd	Rebate Not Due YetRebateNotDueYetInd	Exception To RebateExceptionToRebateInd	No Rebate DueNoRebateDueInd	Variable Rate IssueVariableRateIssueInd	Hedge Identified In Bks And RecHedgeIdentifiedInBksAndRecInd	Gross Proceeds Invested In GICGrossProceedsInvestedInGICInd	Gross Proceeds InvestedGrossProceedsInvestedInd	Written Proc To Monitor ReqsWrittenProcToMonitorReqsInd
A	0	0	0	Yes (1)	0	0	0	0	Yes (1)
B	0	0	0	Yes (1)	0	0	0	0	Yes (1)

Procedures Corrective Action ProceduresCorrectiveActionGrp (2 entries)

Bond ReferenceBondReferenceCd	Procedures Corrective ActionProceduresCorrectiveActionInd
A	Yes (1)
B	Yes (1)

Supplemental Information Detail SupplementalInformationDetail (2 entries)

Form And Line ReferenceFormAndLineReferenceDesc

ExplanationExplanationTxt

Date Rebate Computation Performed

Issuer Name: NC Capital Facs Fin Agency Date the Rebate Computation was Performed: 08/27/2020 Issuer Name: NC Capital Facs Fin Agency Date the Rebate Computation was Performed: 07/22/2022

Schedule K Part II

Bond A,Col(a) Issuer's Name: North Carolina Capital Facilities Finance Agency Bond A,Col(f) The Educational Facilities Revenue Bonds (Wake Forest University), Series 2016 were used for New Capital Facilities and to fund the refinancing escrow for the 2009 Bond. It also refunded a line of credit used to finance the initial building processes covered by the 2016 bond. Bond B,Col(a) Issuer's Name: North Carolina Capital Facilities Finance Agency Bond B,Col(f) The Educational Facilities Revenue Bonds (Wake Forest University), Series 2018 were issued for the purpose of repaying a portion of the line of credit and financing the costs of acquisition, construction, renovation, and installation of capital assets of the Reynolda Campus. Bond A, Total proceeds of issue include interest earned of $155,980 Bond B, Total proceeds of issue include interest earned of $820,877

Schedule L IRS990ScheduleL

Grnt Asst Bnft Interested Prsn GrntAsstBnftInterestedPrsnGrp (2 entries)

Relationship With OrgRelationshipWithOrgTxt	Cash GrantCashGrantAmt	Type Of AssistanceTypeOfAssistanceTxt	Assistance PurposeAssistancePurposeTxt
Not Required
See Part V	$51,954	Tuition Concession	Education
Not Required
See Part V	$76,055	Scholarships	Education

Bus Tr Involve Interested Prsn BusTrInvolveInterestedPrsnGrp

Name Of Interested NameOfInterested

Business Name BusinessName

Field	Value	IRS element (for citing)
Business Name Line1	Chris Hardy	BusinessNameLine1Txt

Field	Value	IRS element (for citing)
Relationship Description	See Part V	RelationshipDescriptionTxt
Transaction	$90,000	TransactionAmt
Transaction	Compensation	TransactionDesc
Sharing Of Revenues	0	SharingOfRevenuesInd

Supplemental Information Detail SupplementalInformationDetail

Field	Value	IRS element (for citing)
Form And Line Reference	Schedule L Part III	FormAndLineReferenceDesc
Explanation	The University has an employee dependent tuition remission benefit plan, which is available to all employees and their eligible dependents. Various listed persons have received, or have dependents who are currently receiving, tuition remission benefits under this plan.The filing organization awards scholarships for various purposes. As noted in Form 990, Part III, about 52% of our graduate and undergraduate students receive scholarships or other financial aid. Various listed persons have received or have dependents who have received merit scholarships, summer research scholarships and/or study abroad scholarships.Part IVChris Hardy: Family member of the organization's president, Susan R. Wente, was paid wages for his employment with the filing organization.	ExplanationTxt

Schedule M IRS990ScheduleM

Works Of Art WorksOfArtGrp

Field	Value	IRS element (for citing)
Non Cash Checkbox	Yes (X)	NonCashCheckboxInd
Contribution	8	ContributionCnt
Noncash Contributions Rpt F990	$241,900	NoncashContributionsRptF990Amt
Method Of Determining Revenues	Appraised Value	MethodOfDeterminingRevenuesTxt

Books And Publications BooksAndPublicationsGrp

Field	Value	IRS element (for citing)
Non Cash Checkbox	Yes (X)	NonCashCheckboxInd
Noncash Contributions Rpt F990	$2,739	NoncashContributionsRptF990Amt
Method Of Determining Revenues	Market Value	MethodOfDeterminingRevenuesTxt

Cars And Other Vehicles CarsAndOtherVehiclesGrp

Field	Value	IRS element (for citing)
Non Cash Checkbox	Yes (X)	NonCashCheckboxInd
Contribution	126	ContributionCnt
Noncash Contributions Rpt F990	$145,655	NoncashContributionsRptF990Amt
Method Of Determining Revenues	Sales Proceeds	MethodOfDeterminingRevenuesTxt

Securities Publicly Traded SecuritiesPubliclyTradedGrp

Field	Value	IRS element (for citing)
Non Cash Checkbox	Yes (X)	NonCashCheckboxInd
Contribution	655	ContributionCnt
Noncash Contributions Rpt F990	$10,523,438	NoncashContributionsRptF990Amt
Method Of Determining Revenues	Market Value	MethodOfDeterminingRevenuesTxt

Other Non Cash Contri Table OtherNonCashContriTableGrp

Field	Value	IRS element (for citing)
Non Cash Checkbox	Yes (X)	NonCashCheckboxInd
Desc	Equipment	Desc
Contribution	1	ContributionCnt
Noncash Contributions Rpt F990	$3,518	NoncashContributionsRptF990Amt
Method Of Determining Revenues	Market Value	MethodOfDeterminingRevenuesTxt

Field	Value	IRS element (for citing)
Form8283 Received	2	Form8283ReceivedCnt
Any Property That Must Be Held	0	AnyPropertyThatMustBeHeldInd
Review Process Unusual NC Gifts	Yes (1)	ReviewProcessUnusualNCGiftsInd
Third Parties Used	Yes (1)	ThirdPartiesUsedInd

Supplemental Information Detail SupplementalInformationDetail

Field	Value	IRS element (for citing)
Form And Line Reference	Part I, Line 32b:	FormAndLineReferenceDesc
Explanation	Part I, Line 32b. The organization uses CARS to process and sell vehicle donations to its radio station, WFDD. CARS acts as an agent for the organization in this process, retaining a flat percentage fee and forwarding net proceeds to the University. Various banks and brokers are used to sell donated securities. Local real estate agents are used to sell real property donations.	ExplanationTxt

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (7 entries)

Form And Line ReferenceFormAndLineReferenceDesc	ExplanationExplanationTxt
Form 990, Part VI, Section A, line 2	Winston-Salem is a relatively small city, and some of the officers, key employees, and trustees of the filing organization (the "specified group") have routine business dealings with each other. These include the following: some trustees are members or employees of law firms that provide legal services to some of the specified group or to businesses owned or operated by members of the specified group and to the filing organization; and some members of the specified group have banking relationships with banks in which trustees are executives; members of the specified group may also have common investments. As noted in the response to Part VI, Question 12, however, the filing organization has a written conflict of interest policy designed to ensure that none of these transactions adversely affects the filing organization. Interested party transactions with the filing organization that meet the required thresholds, if any, are disclosed on Schedule L.
Form 990, Part VI, Section B, line 11b	Line 11b Explanation - The organization sends a draft of the Form 990 to its governing board (Board of Trustees) prior to its filing, allowing adequate time for follow-up questions and comments. The draft form is reviewed with the Audit & Compliance Committee of the organization's Board of Trustees. The organization provides a complete copy of the finalized Form 990 to the entire Board of Trustees prior to filing the Form 990 with the IRS.
Form 990, Part VI, Section B, line 12c	The organization requires officers and key employees to annually review the conflict of interest policy and determine and report any actual and potential conflicts. In addition to the annual disclosure, officers and key employees are required to disclose actual and potential conflicts when they arise. Any actual and potential conflicts noted in the disclosures are reviewed for appropriate resolution by an appropriate reviewer and the organization's Compliance Office. All members of the Board of Trustees are similarly required to determine and report annually, and as they arise, any actual or potential conflicts of interest to the organization's Audit and Compliance Committee. Conflict of interest management plans are prepared in accordance with the applicable policy for all those officers, trustees, and key employees who are found to have conflicts. The conflict management plans are approved by appropriate individuals, also in accordance with the applicable policy. University officers are asked to certify annually that trustees have not exercised inappropriate influence concerning matters within the conflict management plan. Officers and key employees are monitored in accordance with the agreed upon management plan. The resolution of potential and actual conflicts for members of the Board of Trustees is subject to the approval of the Chair of the Board (or by the Vice Chair in cases of conflicts involving the Chair)and is reported to the Chair of the Audit & Compliance Committee of the Board of Trustees.
Form 990, Part VI, Section B, line 15	An external compensation consultant experienced in higher education compensation presents available total compensation comparability data for the positions for which compensation is being determined. Other sources of data are used as well to supplement this process. The data is reviewed by the Compensation Committee of the organization's governing board at its meetings; none of the members of that committee are employees of the organization. The Compensation Committee of the organization's governing board has been delegated the authority to review and approve compensation. Minutes of the deliberations of the committee are contemporaneously recorded. In the event that any member of the Compensation Committee has a conflict of interest, that committee member does not participate in the deliberation or approval process and their abstention from the process is reflected in the minutes. Form 990, Part VI, Section B, Line 15B An external compensation consultant experienced in higher education compensation presents available total compensation comparability data for the positions for which compensation is being determined. Other sources of data are used as well to supplement this process. The data is reviewed by the Compensation Committee of the organization's governing board at its meetings; none of the members of that committee are employees of the organization. The Compensation Committee of the organization's governing board has been delegated the authority to review and approve compensation. Minutes of the deliberations of the committee are contemporaneously recorded. In the event that any member of the Compensation Committee has a conflict of interest, that committee member does not participate in the deliberation or approval process and their abstention from the process is reflected in the minutes.
Form 990, Part VI, Section C, line 19	The organization's Articles of Incorporation are available to the public on request and are available on the website of the North Carolina Secretary of State. The organization's bylaws are not published, but provisions from the bylaws are included as necessary in the organization's policies. The organization's conflicts of interest policy is available to the public on request. The organization's consolidated financial statements are made available to the public on the University's website.
Form 990 Part VII	Hours Allocated to This and Other Related and Affiliated Organizations: Susan R. Wente, PhD. Filing Organization: 29.3 hours Related Organizations: 10.7 hours Nathan O. Hatch, PhD. Filing Organization: 40 hours Related Organizations: 0 hours J. Reid Morgan Filing Organization: 19.7 hours Related Organizations: 20.3 hours B. Hofler Milam Filing Organization: 36.5 hours Related Organizations: 3.5 hours Anita Conrad Filing Organization: 21 hours Related Organizations: 19 hours Dr. Julie A. Freischlag MD Filing Organization: 2 hours Related Organizations: 21.2 hours Affiliated Organizations: 16.8 hours
Form 990 Part VII	Julie A. Freischlag, M.D. All compensation provided to Julie A. Freishlag, M.D. was paid by a related organization, Wake Forest University Health Sciences (WFUHS) for her services as an officer of that related organization (and other related and unrelated organizations comprising the academic medical center of which the filing organization's Medical School is a part) and not for any of her services as an officer of the filing organization. Wake Forest University Baptist Medical Center (WFUBMC) is the organization that has been delegated authority to operate WFUHS and the North Carolina Baptist Hospital (NCBH), an unrelated but affiliated organization, nd all of the respective subsidiaries of each of WFUHS and NCBH. WFUBMC's three Members are the filing organization Wake Forest University (WFU), NCBH, and Atrium Health, Inc. Dr. Freischlag is the Executive Vice President of Health Affairs of the filing organization and is also the CEO of each of WFUBMC, WFUHS, and NCBH as well as Chief Academic Officer of the Medical Center and of the Atrium enterprise. Dr. Freischlag's remaining work hours are divided among those entities she serves, and their respective subsidiaries. NCBH is unrelated to the filing organization, thus the hours are not reported in Part VII.

Schedule R IRS990ScheduleR

Id Disregarded Entities IdDisregardedEntitiesGrp (5 entries)

Address Line1USAddress/AddressLine1Txt	CityUSAddress/CityNm	State AbbreviationUSAddress/StateAbbreviationCd	ZIPUSAddress/ZIPCd	EINEIN	Primary ActivitiesPrimaryActivitiesTxt	Legal Domicile StateLegalDomicileStateCd	End Of Year AssetsEndOfYearAssetsAmt	Direct Controlling NADirectControllingNACd	Address Line1ForeignAddress/AddressLine1Txt	CityForeignAddress/CityNm	Province Or StateForeignAddress/ProvinceOrStateNm	CountryForeignAddress/CountryCd	Foreign PostalForeignAddress/ForeignPostalCd	Legal Domicile Foreign CountryLegalDomicileForeignCountryCd	Total IncomeTotalIncomeAmt
Deacon Blvd Holdings I LLC
PO Box 7201	WinstonSalem	NC	27109	262203211	Real Estate Holding - Currently Inactive	NC	$2,266	N/A
Creative Cafe' LLC
PO Box 7201	WinstonSalem	NC	27109	263700428	No Operations	NC		N/A
Wake Forest University Spain SL
				560532138	Study abroad educ. activities		$834,588	N/A	C/Toro 84-90 Oficina Izquierda	Salamanca	Salamanca	SP	37120	SP	$589,358
Wake Forest Advantage LLC
PO Box 7201	Winston Salem	NC	27109	462754916	Study Abroad	NC	$6,084	N/A							$0
Verger Fund I LLC
751 W Fourth Street Suite 410	Winston Salem	NC	27101	560532138	Holding Verger Capital Fund	DE	$901,433,568	N/A							$62,009,066

Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp (14 entries)

Address Line1USAddress/AddressLine1Txt	CityUSAddress/CityNm	State AbbreviationUSAddress/StateAbbreviationCd	ZIPUSAddress/ZIPCd	EINEIN	Primary ActivitiesPrimaryActivitiesTxt	Legal Domicile StateLegalDomicileStateCd	Exempt Code SectionExemptCodeSectionTxt	Public Charity StatusPublicCharityStatusTxt	Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt	Controlled OrganizationControlledOrganizationInd	Address Line1ForeignAddress/AddressLine1Txt	CityForeignAddress/CityNm	CountryForeignAddress/CountryCd	Legal Domicile Foreign CountryLegalDomicileForeignCountryCd	Direct Controlling NADirectControllingNACd
Wake Forest University Foundation
PO Box 7201	WinstonSalem	NC	27109	562038193	Real Estate Holding and Management	NC	501(c)(3)	Line 12a, I	Wake Forest University	Yes (1)
Wake Forest University Health Sciences
Medical Center Blvd	WinstonSalem	NC	27157	223849199	Medical Education, research and patient care	NC	501(c)(3)	Line 2	Wake Forest University	Yes (1)
Wake Forest University Development Foundation
PO Box 7201	WinstonSalem	NC	27109	562038194	Management/Sale of charitable real property donations	NC	501(c)(3)	Line 12a, I	Wake Forest University	Yes (1)
Reynolda House Inc
PO Box 7287	WinstonSalem	NC	27109	560810676	Museum of American Art	NC	501(c)(3)	Line 7	Wake Forest University	Yes (1)
Fundacion Educacional Wake Forest Chile
				560532138	Study Abroad Education		501(c)(3)		Wake Forest University	Yes (1)	280 Santa Lucia	Santiago	CI	CI
Wake Forest Univ Baptist Med Center
Medical Center Blvd	WinstonSalem	NC	27157	510190238	Supports WFU, WFU Health Sciences, NC Baptist Hospital	NC	501(c)(3)	Line 12a, I	WFU 50 & NC Baptist Hospital 50	0
Wake Forest Univ Health Sciences Group
Medical Center Blvd	WinstonSalem	NC	27157	900222618	Kidney dialysis treatment centers	NC	501(c)(3)	Line 12a, I	WFU Health Sciences	0
Wake Forest Innovation Quarter Development Company
Medical Center Blvd	WinstonSalem	NC	27157	562094067	Research Park development	NC	501(c)(6)		WFU Health Sciences	0
Innovation Quarter
Medical Center Blvd	WinstonSalem	NC	27157	061818498	Research park development	NC	501(c)(3)	Line 12a, I	WFU Health Sciences	0
RegenMed Development Organization
Medical Center Blvd	WinstonSalem	NC	27157	202710571	Education supporting Regenerative Med.	NC	501(c)(3)	Line 7	WFU Health Sciences	0
Wake Forest Innovation Quarter CDC
Medical Center Blvd	WinstonSalem	NC	27157	200177581	Research development	NC	501(c)(3)	Line 12a, I	WFU Health Sciences	0
Childress Institute for Pediatric Trauma
575 N Patterson Ave Ste 140	WinstonSalem	NC	27101	463674691	Medical Research	NC	501(c)(3)	Line 3	WFU Health Sciences	0
Wake Forest Emergency Providers
Medical Center Blvd	WinstonSalem	NC	27157	561903275	Operates Primary Care Clinics	NC	501(c)(3)	Line 3	WFU Health Sciences	0
The James W Denmark Loan Fund Inc
PO Box 7354	WinstonSalem	NC	27109	560774769	Student Loan Provider	NC	501(c)(3)	Line 12a, I		0					N/A

Id Related Org Txbl Partnership IdRelatedOrgTxblPartnershipGrp (5 entries)

Address Line1USAddress/AddressLine1Txt	CityUSAddress/CityNm	State AbbreviationUSAddress/StateAbbreviationCd	ZIPUSAddress/ZIPCd	EINEIN	Primary ActivitiesPrimaryActivitiesTxt	Legal Domicile StateLegalDomicileStateCd	Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt	Share Of Total IncomeShareOfTotalIncomeAmt	Share Of EOY AssetsShareOfEOYAssetsAmt	Disproportionate AllocationsDisproportionateAllocationsInd	General Or Managing PartnerGeneralOrManagingPartnerInd	OwnershipOwnershipPct	UBI Code VUBICodeVAmt
Verger Capital Management LLC
751 W Fourth Street Suite 410	Winston Salem	NC	27101	464037343	Asset Management	DE	Wake Forest Univ	$1,866,874	$7,892,003	0	0	1.00000
Verger Capital Fund LLC
751 W Fourth Street Suite 410	Winston Salem	NC	27101	464027021	Endowment investing	DE	Verger Fund I	$62,009,066	$901,433,568	0	0	0.50460	-$1,274,973
Wake Forest Technology Development Prog
2520 Meridian Pkwy 400	Durham	NC	27713	475437596	Tech Devel.	NC	WFU Health Sciences			0	0
Verger Fund II LLC
751 W Fourth Street Suite 410	WinstonSalem	NC	27101	352514227	Endowment investing	DE	WFU Health Sciences			0	0
Wake Forest Ambulatory VTR LLC
Medical Center Blvd	WinstonSalem	NC	27157	820777206	Healthcare	NC	WFU Health Sciences			0	0

Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp (2 entries)

Address Line1USAddress/AddressLine1Txt	CityUSAddress/CityNm	State AbbreviationUSAddress/StateAbbreviationCd	ZIPUSAddress/ZIPCd	Primary ActivitiesPrimaryActivitiesTxt	Legal Domicile StateLegalDomicileStateCd	Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt	Entity TypeEntityTypeTxt	Controlled OrganizationControlledOrganizationInd
Charitable Remain Trusts (27)
1834 Wake Forest Road	WinstonSalem	NC	27109	Investment	NC	WFU	T	0
Charitable Remain Trusts (3)
Medical Center Blvd	Winston Salem	NC	27157	Investment	NC	WFU Health Sciences	T	0

Field	Value	IRS element (for citing)
Receipt Of Int Annts Rnts Rylts	0	ReceiptOfIntAnntsRntsRyltsInd
Gift Grnt Or Cap Contri To Oth Org	Yes (1)	GiftGrntOrCapContriToOthOrgInd
Gift Grnt Cap Contri From Oth Org	Yes (1)	GiftGrntCapContriFromOthOrgInd
Loans Or Guarantees To Other Org	Yes (1)	LoansOrGuaranteesToOtherOrgInd
Loans Or Guarantees From Oth Org	0	LoansOrGuaranteesFromOthOrgInd
Div Related Organization	0	DivRelatedOrganizationInd
Asset Sale To Other Org	0	AssetSaleToOtherOrgInd
Asset Purchase From Other Org	0	AssetPurchaseFromOtherOrgInd
Asset Exchange	0	AssetExchangeInd
Rental Of Facilities To Oth Org	Yes (1)	RentalOfFacilitiesToOthOrgInd
Rental Of Fclts From Oth Org	0	RentalOfFcltsFromOthOrgInd
Perform Of Services For Oth Org	Yes (1)	PerformOfServicesForOthOrgInd
Perform Of Services By Other Org	Yes (1)	PerformOfServicesByOtherOrgInd
Sharing Of Facilities	Yes (1)	SharingOfFacilitiesInd
Paid Employees Sharing	Yes (1)	PaidEmployeesSharingInd
Reimbursement Paid To Other Org	Yes (1)	ReimbursementPaidToOtherOrgInd
Reimbursement Paid By Other Org	Yes (1)	ReimbursementPaidByOtherOrgInd
Transfer To Other Org	Yes (1)	TransferToOtherOrgInd
Transfer From Other Org	Yes (1)	TransferFromOtherOrgInd

Transactions Related Org TransactionsRelatedOrgGrp (14 entries)

Transaction TypeTransactionTypeTxt	InvolvedInvolvedAmt	Method Of Amount DeterminationMethodOfAmountDeterminationTxt
Wake Forest University Foundation
D	$168,692	Cash Transfer
Wake Forest University Foundation
O	$86,544	Fair Value
Wake Forest University Health Sciences
C	$1,000,000	Cash Transfer
Wake Forest University Health Sciences
P	$6,232,445	Cash Transfer
Wake Forest University Health Sciences
Q	$8,039,921	Cash Transfer
Wake Forest University Development Foundation
D	$411	Cash Transfer
Wake Forest University Development Foundation
O	$19,904	Fair Value
Reynolda House Inc
B	$663,356	Cash Transfer
Reynolda House Inc
Q	$305,268	Cash Transfer
Verger Capital Management LLC
D	$1,549,426	Loan Repayment
Verger Capital Management LLC
M	$3,462,980	Investment Management Fees
Verger Capital Management LLC
S	$58,170	Cash Transfer
Verger Capital Fund LLC
R	$22,761,746	Cash Transfer
Verger Capital Fund LLC
S	$49,016,484	Cash Transfer

Supplemental Information Detail SupplementalInformationDetail

Field	Value	IRS element (for citing)
Form And Line Reference	Part VII	FormAndLineReferenceDesc
Explanation	Verger Capital Management, LLC is a controlled entity that is taxable as a Partnership. It was formed to manage the investment activities for the endowment assets of the University and the Wake Forest controlled group. Verger Capital Fund (VCF) was created in order to hold the filing organization's Endowment Assets for investment, assets of other members of the controlled group, and assets from other, unrelated, entities for investment. Verger Fund I is a disregarded entity that holds the University's partnership interest in Verger Capital Fund, the entity holding the Endowment assets. Verger Fund II is the partnership which holds the interest in VCF (endowment assets) for the other members of the WFU controlled group. These subsidiary entities have a combined controlling interest in the partnership, thus the common parent, Wake Forest University has an indirect controlling interest. Wake Forest Technology Development Program, LP and Wake Forest Ambulatory Ventures, LLC are partnerships controlled by Wake Forest University Health Sciences. Since Wake Forest University is deemed to control Wake Forest University Health Sciences, it has an indirect controlling interest in these partnerships.	ExplanationTxt