Wake Forest University Foundation
- Assets
- $7.1m
- Revenue
- $32.7k
- Investments
- $0.0
- Employees
- 0
- Location
- WinstonSalem, NC
- Founding
- 07/1998
- Data as of
- 06/2022
- EIN
- 56-2038193
Organization Overview
Wake Forest University Foundation is located in WinstonSalem, NC. The organization was established in 1998. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wake Forest University Foundation 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 06/2022, Wake Forest University Foundation generated $32.7k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.4% each year. All expenses for the organization totaled $201.1k during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION OPERATES AS A SUPPORTING ORGANIZATION OF WAKE FOREST UNIVERSITY. IT HOLDS, IMPROVES, LEASES AND MANAGES LONG-TERM PROPERTIES AND ENDOWMENTS AND SUPPORTS WFU THROUGH SUCH ACTIVITIES CONDUCTED BOTH BY ITSELF AND THROUGH SUBSIDIARY ORGANIZATIONS.
Describe the Organization's Program Activity:
THE ORGANIZATION HOLDS, LEASES, MANAGES, AND INVESTS INCOME FROM, THROUGH ITS DISREGARDED SUBSIDIARY ENTITIES, CERTAIN REAL PROPERTIES ON BEHALF OF ITS PARENT ORGANIZATION, WAKE FOREST UNIVERSITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mit B Shah Chair | Trustee | 0.2 | $0 |
Robert J Mccreary Vice Chair | Trustee | 0.2 | $0 |
Diana Adams Trustee | Trustee | 0.2 | $0 |
Cantey M Ergen Trustee | Trustee | 0.2 | $0 |
Curtis C Farmer Trustee | Trustee | 0.2 | $0 |
Helen Hough Feinberg Trustee | Trustee | 0.2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $20,536 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $12,124 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $32,660 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $1,575 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,528 |
| Advertising and promotion | $0 |
| Office expenses | $3,609 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $33,553 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,136 |
| Insurance | $7,854 |
| All other expenses | $0 |
| Total functional expenses | $201,138 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $177,863 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $14,583 |
| 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 | $0 |
| Net Land, buildings, and equipment | $6,897,119 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $7,089,565 |
| Accounts payable and accrued expenses | $3,785 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,307,414 |
| Total liabilities | $2,311,199 |
| Net assets without donor restrictions | $4,778,366 |
| Net assets with donor restrictions | $0 |
| 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 | $7,089,565 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Distributive Education Clubs Of America Group Return Reston, VA | $15,443,513 | $39,253,833 |
Board Of Control For Southern Regional Education Atlanta, GA | $40,252,982 | $26,285,290 |
Georgia Association Of Educational Leaders Athens, GA | $1,753,480 | $2,070,852 |
Frankie Lemmon Foundation Inc Raleigh, NC | $6,622,579 | $3,023,119 |
Life Foundation Inc Marietta, GA | $4,192,920 | $577,149 |
Hamilton County Education Association Chattanooga, TN | $382,786 | $667,511 |
American Traffic Safety Services Foundation Inc Fredericksburg, VA | $1,328,584 | $545,724 |
Wake Forest University Foundation WinstonSalem, NC | $7,089,565 | $32,660 |
Wake Forest University Development Foundation WinstonSalem, NC | $223,333 | -$337,944 |
Professional Association Of Georgia Educators Foundation Inc Atlanta, GA | $2,018,591 | $349,575 |
Kiwanis Foundation Inc Hickory Hickory, NC | $1,458,447 | $41,775 |