Wake Forest University Baptist Medical Center
- Assets
- $446.4m
- Revenue
- $206.0m
- Investments
- $0.0
- Employees
- 22,272
- Location
- Winstonsalem, NC
- Founding
- 05/1976
- Data as of
- 06/2021
- EIN
- 51-0190238
Organization Overview
Wake Forest University Baptist Medical Center is located in Winstonsalem, NC. The organization was established in 1976. According to its NTEE Classification (E12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Health Care and related organizations. As of 12/2021, Wake Forest University Baptist Medical Center employed 22,272 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wake Forest University Baptist Medical Center is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Wake Forest University Baptist Medical Center generated $206.0m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 41.3% each year . All expenses for the organization totaled $151.0m during the year ending 06/2021. While expenses have increased by 29.4% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO IMPROVE HEALTH, ELEVATE HOPE, AND ADVANCE HEALING FOR ALL
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O
SEE SCHEDULE O
SEE SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bradley A Clark Evp, Treasurer | Officer | 4 | $1,782,668 |
Terry G Williams Evp, Ch Strategy Off | Officer | 4.1 | $1,585,569 |
Cathleen Wheatley Dnp Pres Wfbmc, SVP Ch Nurs Of | 0 | $1,076,415 | |
William D Showalter Svp, Ch Info Off | Officer | 20 | $1,025,216 |
J Mclain Wallace Jr Svp, Gen Counsel & Sec | Officer | 5 | $954,719 |
Rami Badreddine MD Physician | 40 | $948,022 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cornerstone Health Enablement Strategic Healthcare Management Services | 12/30/21 | $1,289,365 |
Magnolia Construction Llc Construction Services | 12/30/21 | $403,651 |
Metro Aviation Inc Aviation Services | 12/30/21 | $4,391,336 |
Trimedx Holdings Llc Clinical Engineering Services | 12/30/21 | $424,049 |
Landmark Builders Of The Triad Inc Construction Services | 12/30/21 | $310,169 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $70,000,000 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $460,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $70,460,000 |
| Total Program Service Revenue | $134,503,076 |
| Investment income | $1,124,462 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$25,701 |
| Net Gain/Loss on Asset Sales | -$115,138 |
| Net Income from Fundraising Events | -$5,974 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $205,958,249 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $812,238 |
| Compensation of current officers, directors, key employees. | $406,119 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $73,510,116 |
| Pension plan accruals and contributions | $3,604,081 |
| Other employee benefits | $11,833,982 |
| Payroll taxes | $3,896,107 |
| Fees for services: Management | $2,326,237 |
| Fees for services: Legal | $750,221 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $414,110 |
| Fees for services: Other | $4,523,363 |
| Advertising and promotion | $4,679 |
| Office expenses | $925,250 |
| Information technology | $173,580 |
| Royalties | $0 |
| Occupancy | $21,514,465 |
| Travel | $48,511 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $132,647 |
| Interest | $8,588,221 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $747,741 |
| Insurance | $1,824,614 |
| All other expenses | $0 |
| Total functional expenses | $151,025,697 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $39,194,113 |
| Savings and temporary cash investments | $2,076,011 |
| Pledges and grants receivable | $70,438,709 |
| Accounts receivable, net | $21,559,395 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,087,473 |
| Net Land, buildings, and equipment | $33,209,465 |
| Investments—publicly traded securities | $182,997,992 |
| Investments—other securities | $0 |
| Investments—program-related | $35,353,020 |
| Intangible assets | $15,952,372 |
| Other assets | $43,574,520 |
| Total assets | $446,443,070 |
| Accounts payable and accrued expenses | $368,962,997 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $264,341,189 |
| Unsecured mortgages and notes payable | $4,923,356 |
| Other liabilities | $34,889,509 |
| Total liabilities | $673,117,051 |
| Net assets without donor restrictions | -$297,112,696 |
| Net assets with donor restrictions | $70,438,715 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $446,443,070 |
Grants Awarded
Over the last fiscal year, Wake Forest University Baptist Medical Center has awarded $94,800 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
High Point, NC PURPOSE: COMMUNITY SUPPORT | $87,500 |
Winstonsalem, NC PURPOSE: COMMUNITY SUPPORT | $7,300 |
Grants Recieved
Over the last fiscal year, we have identified 8 grants that Wake Forest University Baptist Medical Center has recieved totaling $2,293,811.
| Awarding Organization | Amount |
|---|---|
Winston-Salem Foundation Winstonsalem, NC PURPOSE: 167 GRANT(S) FOR VARYING PURPOSES | $2,049,004 |
Brain Foundation Pleasanton, CA PURPOSE: MEDICAL RESEARCH | $100,000 |
Dementia Alliance Of North Carolina Inc Raleigh, NC PURPOSE: RESEARCH | $50,000 |
North Carolina Association Of Free And Charitable Clinics Inc Winston Salem, NC PURPOSE: Increase avail of healthcare to uninsured of NC or CRF for COVID-19 related costs | $33,607 |
Sara Smith Self Foundation Winstonsalem, NC PURPOSE: FOR THE CC SMITH STROKE FUND FOR STROKE RESEARCH | $25,000 |
Foundation Forsurgical Fellowships Los Angeles, CA PURPOSE: General Support | $20,000 |
Endowment Analysis
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Vidant Medical Group Llc Greenville, NC | $55,574,083 | $254,516,172 |
Wake Forest University Baptist Medical Center Winstonsalem, NC | $446,443,070 | $205,958,249 |
Health Sciences South Carolina Columbia, SC | $45,940,458 | $137,691,740 |
Easter Seals Ucp North Carolina & Virginia Inc Raleigh, NC | $19,056,860 | $91,808,337 |
Childrens Health Foundation Inc Norfolk, VA | $218,293,245 | $41,519,979 |
Atrium Health Foundation Charlotte, NC | $404,080,450 | $59,803,918 |
Hopeway Foundation Charlotte, NC | $32,563,344 | $14,897,275 |
Randolph Cancer Center Llc Asheboro, NC | $0 | $11,508,289 |
The Healing Trust Nashville, TN | $0 | $7,303,090 |
Medical Center Foundation Inc Gainesville, GA | $39,439,884 | $6,805,753 |
Methodist Healthcare Foundation Memphis, TN | $23,965,456 | $9,348,334 |
Archbold Foundation Inc Thomasville, GA | $120,664,372 | $4,326,190 |