2019-05-13T11:28:08-07:00 2018-06-30 990 2017-07-01 560532138 WAKE FOREST UNIVERSITY WAKE 3367585233 1834 WAKE FOREST RD BOX 7201 WINSTONSALEM NC 27109 B Hofler Milam EVP/CFO/Treasurer 2019-05-13 2017 2019-02-21 02:37:17Z Nathan O Hatch PhD Wake Forest PO Box 7226 WinstonSalem NC 27109 1079180590 false false X www.wfu.edu X 1834 NC 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, and four professional schools. 46 42 5899 2150 5101399 -314341 155959222 85906758 410762241 427874039 72984533 55270818 10992335 14309917 650698331 583361532 111634418 112387153 0 241310091 250705705 1583833 201880 21809706 143159663 151157056 497688005 514451794 153010326 68909738 1824862917 1919040249 541295485 556705829 1283567432 1362334420 X 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 six constituent parts: Wake Forest College; the Graduate School of Arts and Sciences; the School of Law; the School of Medicine; the School of Business; and the School of Divinity. 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. false false 228084262 90630609 334724857 Instruction of approximately 8,116 students in graduate and undergraduate programs. In addition to the U.S. campus, Wake Forest maintains five student learning centers in Europe, and has numerous study abroad programs available. WFU provides opportunities for foreign students to enter degree programs at the U.S. Campus. The Center for Global Programs and Studies manages the student exchange and study abroad programs, with 789 visiting students from 35 different countries. More than 73.5% of our U.S. students travel abroad for at least one program. Scholarships are awarded to eligible students based on financial need and academic merit. 53.9% of the graduate and undergraduate student population received financial aid awards. Approximately 4,131 students received scholarships or grants from the institution during the year. 102811686 16295917 85365626 Wake Forest maintains campus bookstores, housing and dining facilities, mail services and other program services, including Athletics. Athletic scholarships provided funding for 309 of our athletes during the fiscal year. The Wake Forest conference center serves both University and external constituencies. WFDD-FM Radio, the University's Public Broadcasting Station, provides a venue for teaching and learning as well as communication. The station serves the 32-county Winston-Salem, Greensboro, High Point market bringing music and culture, news and information to the public at large. 64079895 1591117 3231198 Wake Forest University maintains a campus with academic buildings, research laboratories, space for fraternities and sororities, and recreational facilities. The grounds add to the student experience. The organization also has other auxiliary enterprises designed to enhance and improve the University and the surrounding community. The University supports, with occasional gifts, local exempt organizations, in order to enhance arts and culture in the area. 31365214 4316898 3403769 426341057 true true false true false false false true true true true true false false true true false true true true true true true true true false false true true true true false false false false false true true false true false true false false false true true true true false false true X 10834 0 true 5899 true true true true OC false false false true true false 0 false false false false false false false false false false X 46 42 true false false false false false false true true false false true true true true true true true true true true X Marnie S Matthews 3367585233 PO Box 7201 WinstonSalem NC 27109 X Donna A Boswell PhD Board Chair 15.00 6.00 X 0 0 0 Diana M Adams Comm Vice Chair 4.00 0.60 X 0 0 0 Shelmer D Blackburn Jr Comm Vice Chair 4.00 0.00 X 0 0 0 John I Bitove Jr Trustee 3.00 0.60 X 0 0 0 Peter C Brockway Trustee 3.00 0.00 X 0 0 0 Jocelyn Burton Trustee 3.00 0.00 X 0 0 0 Bobby R Burchfield Board ViceChair 6.00 2.00 X 0 0 0 Jermyn M Davis Trustee 5.00 0.00 X 0 0 0 H Lawrence Culp Jr Trustee 3.00 2.60 X 0 0 0 David W Dupree Comm Vice Chair 6.00 5.00 X 0 0 0 Thomas A Dingledine Committee Chair 4.00 0.00 X 0 0 0 James E Dixon Trustee 3.00 0.00 X 0 0 0 Donna F Edwards Trustee 3.00 2.00 X 5208 0 0 Cantey M Ergen Committee Chair 4.00 0.00 X 0 0 0 Lisbeth Clark Evans Trustee 5.00 0.00 X 0 0 0 Mary R Farrell Comm Vice Chair 5.00 0.00 X 0 0 0 Helen Hough Feinberg Trustee 3.00 0.00 X 0 0 0 Donald E Flow Committee Chair 6.00 19.00 X 0 0 0 Richard Alan Fox Trustee 3.00 0.00 X 0 0 0 Lawrence D Hopkins MD Trustee 3.00 0.00 X 0 323846 41655 Frank B Holding Jr Committee Chair 4.00 1.00 X 0 0 0 Herman E Eure Trustee 3.00 0.00 X 0 0 0 Matthew A King Committee Chair 6.00 2.00 X 0 0 0 Deborah D Lambert Committee Chair 6.00 0.00 X 0 0 0 John R Lowden Trustee 3.00 0.60 X 0 0 0 James J Marino Committee Chair 5.00 7.00 X 0 0 0 John A McAvoy Comm Vice Chair 4.00 0.00 X 0 0 0 John K Medica dec101317 Committee Chair 5.00 0.60 X 0 0 0 Jane Love McGraw Trustee 3.00 0.00 X 0 0 0 Ogden Phipps II Trustee 3.00 0.60 X 0 0 0 Steven S Reinemund Trustee 3.00 0.00 X 0 0 0 Gerald F Roach Board ViceChair 6.00 2.00 X 0 0 0 Jorge Rodriguez Trustee 3.00 0.00 X 0 0 0 Harold O Rosser Comm Vice Chair 4.00 0.70 X 0 0 0 Mit B Shah Committee Chair 6.00 0.60 X 0 0 0 Michael J Selverian Sr Committee Chair 4.00 1.00 X 0 0 0 Janice Kulynych Story Trustee 3.00 0.00 X 0 0 0 Benjamin C Sutton Jr Comm Vice Chair 5.00 1.00 X 0 0 0 Cathy Wall Thomas MD Comm Vice Chair 4.00 2.00 X 0 0 0 Lloyd P Tate Jr Trustee 3.00 0.00 X 0 0 0 Shannan Spence Townsend Trustee 3.00 0.60 X 0 0 0 David I Wahrhaftig Comm Vice Chair 5.00 0.00 X 0 0 0 Eric C Wiseman Trustee 3.00 0.00 X 0 0 0 Katherine B Wright Committee Chair 6.00 0.00 X 0 0 0 Charles Jeffrey Young Trustee 3.00 0.00 X 0 0 0 Jorge A Fournier Trustee 3.00 0.00 X 0 0 0 Nathan O Hatch PhD Pres. & Trustee 29.00 11.00 X X 1405146 0 480383 Julie A Frieschlag MD EVP Health Aff. 2.00 21.20 X 0 992415 208694 J Reid Morgan S.VP, Sec, G.C. 19.70 20.30 X 528855 0 182806 Anita M Conrad Asst Secretary 21.00 19.00 X 184521 0 38363 Rogan Kersh PhD Provost 40.00 0.00 X 561863 0 156040 B Hofler Milam EVP, CFO, Treas 37.50 2.50 X 654358 0 303297 Charles L Iacovou Dean, School of Business 40.00 0.00 X 459908 0 49917 Ronald D Wellman Director of Athletics 40.00 0.00 X 804673 0 399352 Mark A Petersen VP - Advancement 40.00 0.00 X 851574 0 92836 Michele Gillespie Dean, Wake Forest College 40.00 0.00 X 297415 0 62462 David P Clawson Football Coach 40.00 0.00 X 2131469 0 57594 Jay Sawvel Asst F'ball Coach 40.00 0.00 X 539125 0 34967 Daniel R Manning Basketball Coach 40.00 0.00 X 1993909 0 46576 Ajay Patel Prof, Sch of Busns 40.00 0.00 X 477661 0 85607 Andrew R Chan VP Career Devel 40.00 0.00 X 450833 0 171682 James J Dunn Former Chief Invest Officr 0.00 40.00 X 0 640769 25510 John D McConnell MD Former EVP Health Affairs 0.00 40.00 X 0 1860397 289177 11346518 3817427 2726918 456 true true false Frank L Blum Construction Company 830 25th St NE WinstonSalem NC 27105 Construction 47315546 Aramark Campus Services 1101 Market St 12th Fl Philadelphia PA 19107 Food Service 23550830 IL Long Construction Co Inc 4117 Indiana Avenue Winston Salem NC 27105 Construction 14857111 NCS Pearson Inc 13036 Collections Center Drive Chicago IL 60693 Subscription Service 4803203 EBSCO Subscription Services 6800 Versar Center Suite 131 Springfiels VA 22151 Subscription Service 3229364 131 110535 2201881 9205027 74389315 19782513 85906758 Athletic Programs 711210 36265589 36265589 Organized Activities 515100 6997914 6997914 Student Health Services 621400 3195490 3195490 Student Housing & Dining 721310 42102123 42102123 Tuition and Fees 611310 334724857 334724857 4588066 3403769 1184297 427874039 4652626 122436 4530190 0 2989269 2989269 11099091 8720278 2378813 2378813 2378813 534789231 147143 483845249 472933 50943982 -325790 50618192 50618192 46262 110535 66160 -19898 -19898 0 9806691 2714438 7092253 3229057 3863196 Indoor Tennis Club 713940 186817 186817 Sponsorship Payments 541800 1268163 1268163 Winston Salem Tennis Open 711210 312789 312789 101711 35708 66003 1869480 583361532 426725450 5101399 65627925 3266191 3266191 108397253 108397253 723709 723709 0 5160503 1806176 2580252 774075 0 194755098 151568750 31690209 11496139 14445073 11194932 2253431 996710 22647812 17547750 3563752 1536310 13697219 10615345 2136766 945108 0 396532 22784 373748 215358 9552 205806 0 201880 201880 6243755 4034930 2208825 25878267 18798638 5812643 1266986 4914719 3428682 347488 1138549 10674093 7254186 1999680 1420227 2619344 1998355 429441 191548 0 15573203 12366839 3022107 184257 13430739 11389358 1082679 958702 0 3396733 2305463 797875 293395 9786114 6067391 3718723 0 40608839 39164528 1444311 1738690 568692 1169998 Library, Books & Subscriptions 7273628 7146931 38496 88201 Auxiliary Enterprises 4000633 3896843 102430 1360 Non Capital Equip & Furnishing 3395952 2542463 773512 79977 Miscellaneous 1010457 225316 548859 236282 0 514451794 426341057 66301031 21809706 0 53774535 62930337 184636117 110301402 9698107 5957906 570000 735000 0 26539697 25024135 687889 716805 5088089 4918957 1093338545 459767451 574824734 633571094 512619624 225669950 451988616 846552573 0 0 4435509 2662090 1824862917 1919040249 46883775 38226931 9360770 8221936 30581787 33913058 180375000 171516292 795297 1311664 50995451 97106486 125000000 125000000 97303405 81409462 541295485 556705829 X 566385433 609068783 347404393 347994414 369777606 405271223 1283567432 1362334420 1824862917 1919040249 68909738 9857250 X false true X true true true X 93868783 87133767 72144441 157306803 85906758 496360552 0 0 93868783 87133767 72144441 157306803 85906758 496360552 57810576 438549976 24833246 25521576 19388703 62678782 18740986 151163293 1618183 1974386 2189568 5782137 37437 37437 653343419 1982067010 0.67120 0.66380 X Part I: Additional Information 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. Schedule A, Part II is completed in order to utilize the Schedule B Special 2% Rule. Support Schedule: Other Income Explanation Miscellaneous Income $37,437 false false false false false false false false true 41806 false false 41806 false false Part II-B, Line 1i - Other Activities Description The organization's medical school subsidiary organization has a Government Relations office. Working in coordination with that government relations office, the filing organization's employees will sometimes make direct contact with legislators, their staffs, government officials, or a legislative body. The Government Relations office was actively involved with several federal and state issues during the year, (including endowment tax, unrelated business income, and other provisions in the Tax Cuts and Jobs Act, and the Higher Education Act reauthorization and financial aid simplification), but because of the preponderance of current Health Care legislation, the Government Relations Office of the filing organization's subsidiary spent less time during the tax year on purely educational issues of greatest relevance to the filing organization. X X X false true 5337883 1749452 3588431 true X 689116543 98721815 42556841 16890539 15874132 5113700 792516828 656509662 19439767 52606427 16960403 17199348 5279562 689116543 681921800 13348075 1264626 17115679 17696558 5212602 656509662 682432627 17630121 14391190 16708857 10462540 5360741 681921800 630580382 18658099 61345143 17125125 9464087 1561785 682432627 0.25550 0.46300 0.28150 false true true 555162 13323635 13878797 55606059 484248663 200001554 339853168 262479950 144111676 118368274 162774855 111517393 51257462 114350221 4136828 110213393 633571094 846552573 Annuities payable 16741706 Bond premium 18114377 Other liabilities and deferral 33586647 Postretirement benefits 12966732 81409462 X 496322405 9857250 -108397253 -98540003 594862408 -11500876 -11500876 583361532 417555417 11500876 11500876 406054541 108397253 108397253 514451794 Part III, Line 1a: If organization elected under SFAS 116 to not report are, historical treasures, o 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: Description of organization's collections and how it furthers its purpose. 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: Why is organization an agent, trustee, custodian or other intermediary for contrib Prior to FY16, the organization managed the endowment pool for both the organization and several related organizations identified in Schedule R. Investments for related parties were not included on the organization's balance sheet, but were contained in the consolidated financial statements.In the transfer of endowment assets to the Verger Capital Fund, a related organization to the filing organization, a few items were not transferred. These assets are still 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: Explanation of escrow account liability 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: Intended uses of the endowment fund. Approximately 57.05% of the expendable endowment funds provided scholarships for Wake Forest University students during the fiscal year. 14.38% was distributed for department chair and faculty positions, including funds for research professorships. 15.74% supported educational programs generally, the libraries and general university operations. 12.83% provided support for 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 : FIN48 Footnote 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. Accordingly, no provision for income taxes is made in the consolidated financial statements. 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, 2015 remain subject to examination by federal and state tax authorities. The University has evaluated uncertain tax positions for the years ended June 30, 2018 and 2017, 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 affect the consolidated financial statements for the years ended June 30, 2018 and 2017. Part XII, Line 2d: Other expenses and losses per audited F/S Rent Expense Reclass $8720278 Fundraising Expense Reclass $66160 COGS Reclass $2714438 Part XII, Line 4b: Other revenue amounts included on 990 but not included in F/S Scholarship Reclass $XXX-XX-XXXX Allocations moved to net expense $0 Pledge allowance adjustment $0 Premiums on donor life polices to gifts $0 true true true true true true true false false false false false false false false true false true Schedule E, Line 3 - Racially Nondiscriminatory Policy Publicized 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, Line 4 - Explanation of Records and Materials Not Maintained Schedule E, Line 5 - Explanation of Organization Discrimination by Race Schedule E, Line 6 - Explanation of Aid or Assistance from Governmental Agency 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. true Ctr America & Caribbean 0 0 Program Service Study Abroad 98121 Europe & North Atlantic 0 0 Program Service Services 217378 Europe & North Atlantic 0 0 Program Service Research 265631 East Asia & Pacific 0 0 Program Service Research 88192 East Asia & Pacific 1 2 Program Service Study Abroad 430654 Europe & North Atlantic 6 52 Program Service Study Abroad 5566275 Europe & North Atlantic 0 0 Program Service Conferences 367670 Ctr America & Caribbean 0 0 Program Service Research 69575 East Asia & Pacific 0 0 Program Service Services 4190 Middle East & North Africa 0 0 Program Service Research 30456 Sub-Saharan Africa 1 4 Program Service Research 132600 North America 0 0 Program Service Conferences 71963 North America 0 0 Program Service Research 20348 South America 1 5 Program Service Study Abroad 486912 Europe & North Atlantic 0 0 Program Service Depr'n on foreign assets 290360 South America 2 58 Program Service Research 902792 South America 0 0 Program Service Conferences 22014 Sub-Saharan Africa 0 0 Program Service Serv/Educ Trips 3000 Europe & North Atlantic 0 0 Prog-Related Assets Book Value 2938700 South Asia 0 0 Program Services Study Abroad 113572 Sub-Saharan Africa 0 0 Prog-Related Assets Book Value 119 South America 0 0 Program Services Depr'n on foreign assets 24554 Europe & North Atlantic 0 0 Program Services Recruiting 22281 Ctr America & Caribbean 0 0 Fundraising 2020 Ctr America & Caribbean 0 0 Program Services Serv/Educ Trips 27811 Europe & North Atlantic 0 0 Fundraising 3554 Europe & North Atlantic 0 0 Program Services Serv/Educ Trips 99063 East Asia & Pacific 0 0 Program Service Conference 41042 East Asia & Pacific 0 0 Program Service Recruiting 6195 East Asia & Pacific 0 0 Fundraising 35920 Middle East & North Africa 0 0 Program Service Conferences 7389 Ctr America & Caribbean 0 0 Program Service Conferences 7017 North America 0 0 Program Services Services 22800 North America 0 0 Program Services Recruiting 4715 South America 0 0 Program Services Recruiting 11529 South Asia 0 0 Program Services Conferences 4301 South Asia 0 0 Program Services Recruiting 10477 South Asia 0 0 Program Services Research 22574 Sub-Saharan Africa 0 0 Program Services Conferences 15628 Russia & the Ind States 0 0 Program Services Conferences 10729 Europe & North Atlantic 0 0 Investments Book Value 7651 Sub-Saharan Africa 0 0 Program Service Depr'n on foreign assets 1420 Sub-Saharan Africa 0 0 Program Service Study Abroad 14081 South America 0 0 Prog-Related Assets Book Value 68487 North America 0 0 Program Services Study Abroad 3514 Ctr America & Caribbean 0 0 Program Services Recruiting 98 East Asia & Pacific 0 0 Program Services Serv/Educ Trips 57170 Ctr America & Caribbean 0 0 Program Services Services 18131 Sub-Sahran Africa 0 0 Program Services Services 966 Middle East & North Africa 0 0 Program Services Recruiting 3755 South Asia 0 0 Fundraising 7751 Sub-Saharan Africa 0 0 Fundraising 1112 11 121 11 121 9065131 3619126 12684257 East Asia & Pac Research Subcon 43606 Check/wire Europe & N Atl Research Subcon 179267 Check/wire North America Research Subcon 18771 Check/wire 14 Student scholarships East Asia & Pacific 19 7800 Check/wire Student scholarships Europe & N Atlantic 24 27800 Check/wire Student scholarships North America 2 520 Check/wire Student scholarships South America 3 4000 Check/wire Student Scholarships Middle East & N Afr 1 1276 Check/wire true false true true true true Part I, Line 2 - Grantmakers Explanation For Monitoring Use of Funds Outside US 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 3f - Method of Accounting 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 I, Line 3f - Investments and Expenditures The Organization uses the accrual method of accounting on its financial statements, therefore all investments and expenditures shown on Schedule F are based on that method.Investments are reported at Net Book Value as of the end of the Organization's fiscal year. The valuation and location of investments comes from investment managers and investment financial statements external to the filing organization. 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 for their intended purpose. X X X X X X X true Lamphier Post Office Box 26029 Greensboro NC 27420 Marketing & Consulting false 120940 Joel W Bowers 1920 Pacific Av San Fran CA 94109 Campaign Videos false 30750 Lisa Quisenberry 2001 Ashland Avenue Charlotte NC 28205 Consulting false 22500 The Stelter Co PO Box 5228 Des Moines IA 50305 Gift Planning false 20011 false false false false false false 194201 AL AK AZ AR CA CO CT DE FL GA HI ID IL IN IA KS KY LA ME MA MD MI MN MO MS MT NE NV NH NJ NM NC NY ND OH OK OR PA RI SC SD TN TX UT VT VA WA WV WI WY DC Athletics Events 120283 101533 18750 12525 21619 6908 11505 Law Events 18691 1582 17109 809 665 2 17823 7420 10403 677 5073 579 5800 156797 110535 46262 13202 27501 7487 17970 66160 -19898 true Georgia Tech Foundation 760 Spring St NW Ste 400 Atlanta GA 30308 586043294 501(c)(3) 12500 0 Research Subcontract HOPE of Winston-Salem Inc PO Box 26672 WinstonSalem NC 27114 463772491 501(c)(3) 7500 0 Charitable Contribution Habitat For Humanity 339 Witt Street WinstonSalem NC 27103 561448955 501(c)(3) 32500 0 Habitat House Sponsor National Football Foundation 433 Las Colinas Blvd Ste 113 Irving TX 75039 221508812 501(c)(3) 44500 0 Charitable Contribution Old Hickory Council BSA 6600 Silas Creek Parkway WinstonSalem NC 27106 560529985 501(c)(3) 24500 0 Charitable Contribution Reynolda House Inc PO Box 7287 WinstonSalem NC 27109 560810676 501(c)(3) 505000 0 Operations Support University of Virginia 580 Massie Rd Charlottesville VA 22903 546001796 501(c)(3) 15500 0 Charitable Contribution Wake Forest College Birthplace Society PO Box 494 Wake Forest NC 27588 566072013 201(c)(3) 82742 0 Operations Support Winston Salem Business Inc 1080 W Fourth Street WinstonSalem NC 27101 510436665 501(c)(3) 10000 0 Support Local Econ Dev'mt Winston-Salem Foundation 751 W Fourth Streetq WinstonSalem NC 27101 566037615 501(c)(3) 100840 0 Local Econ/Edu Dev'mt 10 0 Departmental Scholarships 1347 1549080 Grants for Student Travel 407 156866 General Tuition Scholarships 3217 87982456 Univ. charges Tuition discounts Tuition Concessions 106 4293931 Univ. charges Direct tuition payments Athletic Tuition Awards 309 12981978 Univ. charges Tuition discounts ROTC Scholarships 34 180210 Athletic Room & Board 236 2978829 Study Abroad Scholarships 261 871969 1917297 Univ. charges WFU Program payments Third Party Scholarships 615 73381 3327943 Univ. charges Direct tuition payments Grantmaker's Description of How Grants are Used 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 awarded to qualifying research institutes able to complete research projects and monitored during such projects as well as by reviewing and collating the end results of the work. X X X X X X X true true X X X X X X false true false false false false false true false false Ajay Patel Prof, Sch of Busns 409353 1000 67308 27000 58607 563268 Andrew R Chan VP Career Devel 395497 40000 15336 134980 36702 622515 Anita M Conrad Asst Secretary 179263 5000 258 18731 19632 222884 B Hofler Milam EVP, CFO, Treas 598515 40000 15843 277000 26297 957655 Charles L Iacovou Dean, School of Business 422738 30000 7170 27000 22917 509825 Daniel R Manning Basketball Coach 1927364 27500 39045 20250 26326 2040485 David P Clawson Football Coach 1928798 160000 42671 20250 37344 2189063 J Reid Morgan S.VP, Sec, G.C. 473012 40000 15843 102000 80806 711661 James J Dunn Former Chief Invest Officr 557475 83294 10010 15500 666279 Jay Sawvel Asst F'ball Coach 514141 24984 13500 21467 574092 John D McConnell MD Former EVP Health Affairs 1026360 267085 566952 269643 19534 2149574 Julie A Frieschlag MD EVP Health Aff. 796930 190000 5485 190699 17995 1201109 Lawrence D Hopkins MD Trustee 315560 8286 23037 18618 365501 Mark A Petersen VP - Advancement 450580 40000 360994 69500 23336 944410 287143 Michele Gillespie Dean, Wake Forest College 270701 20000 6714 27000 35462 359877 Nathan O Hatch PhD Pres. & Trustee 886558 440000 78588 410515 69868 1885529 300000 Rogan Kersh PhD Provost 503674 46195 11994 128230 27810 717903 Ronald D Wellman Director of Athletics 762188 42485 378023 21329 1204025 Part I, Line 1a: Relevant information in regards to selections on 1a. Charter Travel: Charter travel is 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: 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.The President is provided lodging for the convenience of the University as a condition of his 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 are provided by the University when membership fulfills a university business purpose. All such dues are included in taxable compensation when applicable.The President has a discretionary spending account which is monitored against the University's Accountable Plan. Any expenses deemed personal are treated as taxable compensation. Part I, Line 7: Non-Fixed payments not listed above 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. Part III, Additional Information 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, available to all employees.J. Reid Morgan: $49,740 Andrew Chan: $9,608Ajay Patel: $32,788Michele Gillespie: $19,532David Clawson: $4,883All compensation provided to Julie Ann Frieschlag M.D. and John D. McConnell, M.D. was paid by a related organization, Wake Forest University Health Sciences (WFUHS) for their services as officers 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 their 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, and all of the respective subsidiaries of each of WFUHS and NCBH. WFUBMCs two equal members are the filing organization (WFU) and NCBH; Dr. McConnell was the CEO of WFUBMC, WFUHS and NCBH through 4-26-17; Dr. Julie A. Freischlag succeeded Dr. McConnell in that office effective 4-27-17. Compensation paid to James J. Dunn, former VP and Chief Investment Officer of the filing organization, was paid by the related organization, Verger Capital Management LLC, which has contracted to manage the filing organization's endowment assets. A NC Capital Facs Fin Agcy 561592154 65818PEC9 2004-12-21 36605000 See Sch K, Part VI, Ser A false false false B NC Capital Facs Fin Agcy 561592154 65818PEB1 2004-12-21 30760000 See Sch K, Part VI, Ser B false false false C NC Capital Facs Fin Agcy 561592154 65818PKVO 2016-07-22 190092829 See Sch K, Part VI,Series 2016 false false false A 22180000 36605000 300161 36304839 2001 true false true true B 30760000 30760000 270000 30490000 1999 false true true true C 190246089 2170879 121699410 1214783 62824971 2161164 174882 true true false true C false true true true false true 0.00410 0.00330 0.00740 false false true A false false true true false false false true B false false false true true See Part V 8.5000 false true false false true C false true false false false false false true A true B true C true Part VI SCHEDULE K, PART IBond A,Col(a) Issuer's Name: North Carolina Capital Facilities Finance AgencyBond A,Col(f) The Variable Rate Educational Facilities Revenue Bonds (Wake Forest University), Series 2004A, were used to refund two previous bond issues and a line of credit. Prior Bond issues refunded were dated 12/02/2000 (Exempt bonds) and 12/17/1997 (taxable bonds). The 2004A bond also refunded the line of credit, dated 11/1/2004, which had refunded the maturing principal due on 11/1/04 of the 12/17/1997 tax exempt bond issue. Exception applied, no rebate calculation was required. Bond B,Col(a) Issuer's Name: North Carolina Capital Facilities Finance AgencyBond B,Col(f) The Variable Rate Educational Facilities Revenue Bonds (Wake Forest University), Series 2004B were used for refunding the tax exempt bonds issued 12/17/1997. Arbitrage rebate calculation December 21, 2004.Bond C,Col(a) Issuer's Name: North Carolina Capital Facilities Finance AgencyBond C,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. SCHEDULE K, PART IIBond C, Total proceeds of issue include interest earned of $153,260. SCHEDULE K, PART IV, COLUMN C, LINE 3bHedge Providers: Bank of America, N.A. and Wachovia Bank, N.A. The Bank of America, N.A. hedge was terminated in 2009. The Wachovia Bank, N.A., now Wells Fargo Bank, N.A., hedge was terminated in 2011. David P Clawson Coach Insurance X 735000 false false true 735000 Not required See Part V 77618 Tuition Waiv Education Not Required See Part V 6000 Scholarships Education Julia Hatch See Part V 67450 Compensation false Angela J Lynde See Part V 35211 Compensation false Muriel Hopkins See Part V 13750 Compensation false Addison Sutton See Part V 39483 Compensation false Kevin Pittard See Part V 105472 Compensation false Schedule L, Part V Supplemental Information Part IIIThe 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 discounts under this plan.The filing organization awards scholarships for various purposes. As noted in Form 990, Part III, about 54% 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 study abroad scholarships.Part IVJulia Hatch: Family member of the organization's president, Nathan O. Hatch, was paid wages for her employment with the filing organization.Angela J. Lynde: Family member of the organization's key employee, Ronald D. Wellman, was paid wages for her employment with the filing organization.Muriel Hopkins: Family member of the organization's trustee, Lawrence D. Hopkins, M.D., was paid wages for her employment with the filing organization.Addison Sutton: Family member of the organization's trustee, Ben C. Sutton, Jr., was paid wages for her employment with the filing organization.Kevin Pittard: Family member of the organization's key employee, Michele Gillespie, was paid wages for his employment with the filing organization. 8 279200 Market Value 5845 Market Value 197 177695 Sales proceeds 637 18646314 Market Value 22 280640 Annuity NPV 191 65213 Retail Furniture 1 400 Market Value 5 false true true Part I, Line 32, Hire and Use of Third Parties Part I, Line 32b. The organization uses Charitable Auto Resources(CARS) to process and sell vehicle donations to its radio station. CARS acts as an agent for the Organization in this process, retaining a flat percentage fee and forwarding the 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. Client Note 1 Client Note 1 - Wake Forest University2016 year ended 6/30/2017Attachment to Form 990-TSTATEMENT 6PART V, LINE 1: INTEREST IN OR AUTHORITY OVER A FOREIGN ACCOUNTNAME OF COUNTRY: United Kingdom, France, Spain, Austria, Italy, Nicaragua, China, Chile. Form 990, Part III, Line 4d: Other Program Services Description OTHER PROGRAM SERVICES 4: Wake Forest University maintains a campus with academic buildings, research laboratories, space for fraternities and sororities, and recreational facilities. The grounds add to the student experience. The organization also has other auxiliary enterprises designed to enhance and improve the University and the surrounding community. The University supports, with occasional gifts, local exempt organizations, in order to enhance arts and culture in the area. Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et 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; some members of the specified group do business with a car dealership owned by a trustee; 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 affect 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, Line 11b: Form 990 Review Process 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 in detail 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, Line 12c: Explanation of Monitoring and Enforcement of Conflicts The organization requires officers and key employees to annually review the conflict of interest policy and determine and report any potential conflicts of interest. Any potential conflicts noted in the disclosure are reviewed for appropriate resolution. All members of the Board of Trustees are similarly required to determine and report annually, and as they arise, any potential conflicts of interest to the Secretary or to the Chair of the Board of Trustees. Conflict of interest management plans are prepared for all those officers, trustees, and key employees who are found to have conflicts. The conflict management plans are approved by appropriate individuals in accordance with the 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 by their supervisors and, for the President, by the Chair of the Board.The resolution of potential and actual conflicts is subject to the approval of the Chair of the Board and is reported to the Chair of the Audit & Compliance Committee of the Board of Trustees. Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management 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 meeting; 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, Line 15b: Compensation Review and Approval Process for Officers and Key Employees 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 meeting; 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, Line 19: Other Organization Documents Publicly Available 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:Nathan O. Hatch, Ph.D.Filing Organization: 29 hoursRelated Organizations: 11 hoursJ. Reid MorganFiling Organization: 19.7 hoursRelated Organizations: 20.3 hoursB. Hofler MilamFiling Organization: 37.5 hours Related Organizations: 2.5 hoursAnita ConradFiling Organization: 21 hoursRelated Organizations: 19 hours Dr. Julie A. Frieschlag MDFiling Organization: 2 hoursRelated Organizations: 21.2 hoursAffiliated Organizations: 16.8 hoursDr. John D. McConnell, MDFiling Organization: 0 hoursRelated Organizations: 40.0 hours PART V, LINE 4b: Foreign Accounts INTEREST IN OR AUTHORITY OVER A FOREIGN ACCOUNTNAME OF COUNTRY: United Kingdom, France, Spain, Austria, Italy, Nicaragua, Chile, China. Deacon Blvd Holdings I LLC PO Box 7201 WinstonSalem NC 27109 262203211 Real Estate Holding - Currently Inactive NC NA Creative Cafe LLC PO Box 7201 WinstonSalem NC 27109 263700428 No Operations NC NA Wake Forest Advantage-WF Ed Cons Nanjing PO Box 7201 Winston Salem NC 27109 462754916 Int'l study program holding China WFOE NC 6602 NA Verger Fund I LLC PO Box 7354 Winston Salem NC 27109 560532138 Holding Verger Capital Fund DE 50722350 842383237 NA Wake Forest University Spain SL C/Toro 84-90 Oficina Izquierda Salamanca Salamanca SP 37120 560532138 study abroad educ. activities SP 68633 NA Wake Forest University Chile SpA Santa Lucia 280 Oficina 12 Santiago Santiago CI 560532138 Study Abroad CI 32352 NA Wake Forest University Foundation PO Box 7201 WinstonSalem NC 27109 562038193 Real Estate Holding and Management NC 501(c)(3) Line 11a, I Wake Forest University true 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 true Wake Forest University Development Fndn PO Box 7201 WinstonSalem NC 27109 562038194 Management/Sale of charitable real property donations NC 501(c)(3) Line 11a, I Wake Forest University true Reynolda House Inc PO Box 7287 WinstonSalem NC 27109 560810676 Museum of American Art NC 501(c)(3) Line 7 Wake Forest University true 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 11a, I WFU 50 & NC Baptist Hospital 50 false Wake Forest Univ Health Sciences Group Medical Center Blvd WinstonSalem NC 27157 900222618 Kidney dialysis treatment centers NC 501(c)(3) Line 11a, I WFU Health Sciences false Wake Forest Innovation Quarter Devel Co Medical Center Blvd WinstonSalem NC 27157 562094067 Research Park development NC 501(c)(6) WFU Health Sciences false Wake Forest Innovation Quarter Mgmt Co Medical Center Blvd WinstonSalem NC 27157 061818498 Research park development oversight NC 501(c)(3) Line 11a, I WFU Health Sciences false RegenMed Development Organization Medical Center Blvd WinstonSalem NC 27157 202710571 Education supporting Regenerative Med. NC 501(c)(3) Line 7 WFU Health Sciences false Wake Forest Innovation Quarter CDC Medical Center Blvd WinstonSalem NC 27157 200177581 Research Park & community economic development NC 501(c)(3) Line 11a, I WFU Health Sciences false Childress Inst for Pediatric Trauma 575 N Patterson Ave Ste 140 WinstonSalem NC 27101 463674691 Medical Research NC 501(c)(3) Line 3 WFU Health Sciences false Wake Forest Emergency Providers Medical Center Blvd WinstonSalem NC 27157 561903275 Operates Primary Care Clinics NC 501(c)(3) Line 3 WFU Health Sciences false The James W Denmark Loan Fund Inc PO Box 7354 WinstonSalem NC 27109 560774769 Student Loan Provider NC 501(c)(3) Line 11a, I NA false Verger Capital Management LLC PO Box 7354 Winston Salem NC 27109 464037343 Asset Management DE Wake Forest Univ Excluded -150941 5337794 false false 1.00000 Verger Capital Fund LLC 1834 Wake Forest Rd Starling Hall Winston Salem NC 27109 464027021 Endowment investing DE Verger Fund I Excluded 50722350 842383237 false -309965 false 0.57720 Wake Forest Technology Development Prog 2520 Meridian Pkwy 400 Durham NC 27713 475437596 Tech Devel. NC WFU Health Sciences false false Verger Fund II LLC P O Box 7354 WinstonSalem NC 27109 352514227 Endowment investing DE WFU Health Sciences false false Wake Forest Ambulatory VTR LLC Medical Center Blvd WinstonSalem NC 27157 820777206 Healthcare NC WFU Health Sciences false false Charitable Remain Trusts 33 1834 Wake Forest Rd Box 7201 WinstonSalem NC 27109 Investment NC WFU T false Charitable Remainder Trusts 1834 Wake Forest Rd Box 7201 Winston Salem NC 27157 Investment NC WFU Health Sciences T false true true true true false false false false false true false false true true true true true true true Wake Forest University Foundation o 73042 FMV Allocation Wake Forest University Health Sciences c 2201844 Cash Transfer Wake Forest University Health Sciences p 7195473 Cash Transfer Wake Forest University Health Sciences q 8195473 Cash Transfer Wake Forest University Development Fndn c 145422 Cash Transfer Wake Forest University Development Fndn o 52573 FMV Allocation Reynolda House Inc b 505000 Cash support Reynolda House Inc q 268545 Cash Transfer The James W Denmark Loan Fund Inc s 84206 Cash transfer Verger Capital Management LLC a 100282 Interest Pymt Verger Capital Management LLC d 642505 Loan repayment Verger Capital Management LLC j 164162 Cash rent Verger Capital Management LLC m 2368663 Inv Mgmt Fees Verger Capital Management LLC q 3772302 Cash reimb Verger Capital Fund LLC r 98721815 Cash Transfer Verger Capital Fund LLC s 37878371 Cash Transfer Related Party Disclosures 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 LLC Verger Capital Fund (VCF) was created in order to hold the filing organization's Endowment Assets for investment. VCF accepted endowment assets of other members of the controlled group in FY15. During this fiscal year VCF received assets from other, unrelated, entities for investment and plans to continue this avenue of growth. Verger Fund I LLC 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 LLC 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 Techonology Development Program, LP and Wake Forest Ambulatory VTR, 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.