Wake Forest University Health Sciences
Wake Forest University Health Sciences reported $1.71 billion in revenue and $1.61 billion in expenses for calendar year 2024. Of every $100 it spent, $95.43 went to program services, $4.44 to management and general costs and $0.13 to fundraising. Its largest source of revenue was program service revenue such as fees, sales and contracts: 71.5% of the total. Government grants made up 15.9%. The highest compensation it reported for one person was $7,634,720 (DIRECTOR, CEO AHWFB). 1,415 people received more than $100,000 in reportable compensation. Revenue rose 60% between FY2020 and 2024. Source: Form 990, 2024.
Where $100 of spending went
Calendar year 2024 · Form 990, Part IX, line 25 · total expenses $1.61BFor context, the median across 5,499 covered education charities: $85.56 programs, $13.59 management, $0.85 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
Calendar year 2024 · Form 990, Part VIII · total revenue $1.71BThe 990 scorecard · same measures for every charity, no grades
| Measure | 2024 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 95.4% | 84.4% |
| Management & general Part IX 25(C) ÷ 25(A) | 4.4% | 13.4% |
| Fundraising Part IX 25(D) ÷ 25(A) | 0.1% | 0.8% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.00 | $0.04 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 23.5% | 19.1% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 15.9% | 1.1% |
| Program service revenue share Part VIII 2g ÷ 12 | 71.5% | 69.9% |
| Highest reported compensation Part VII-A, columns D–F | $7,634,720 | $331,578 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 0.47% | 1.28% |
| People paid over $100,000 Part VII, line 2 | 1,415 | 8 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 7.6 | 13.3 |
| Independent voting board members Part VI 1a–1b | 17 of 19 | 100.0% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
2024 · Form 990, Part III · the three largest programs by expenseMedical research, general/other: research comprised of basic science clinical research and population based studies and is centered on the acquisition and advancement of scientific knowledge and new technology and their transfer to industry and the patient in order to prevent and treat disease and promote health (1,309 grants)
Highest reported compensation
2024 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| DIRECTOR, CEO AHWFB Director/trustee, officer, 15.70 hrs/week | $7,594,629 | $0 | $40,091 | $7,634,720 |
| EVP, TREASURER Officer, 1.00 hrs/week | $2,513,703 | $0 | $288,012 | $2,801,715 |
| FORMER OFFICER Former, 0.00 hrs/week | $2,204,442 | $0 | $245,226 | $2,449,668 |
| ACADEMIC FACULTY PHYSICIAN - CHAIR Highest compensated employee, 40.00 hrs/week | $1,751,465 | $0 | $45,811 | $1,797,276 |
| DEAN, WFU SCHOOL OF MEDICINE Officer, 35.00 hrs/week | $1,717,096 | $0 | $35,593 | $1,752,689 |
| ACADEMIC FACULTY PHYSICIAN - CHAIR Highest compensated employee, 40.00 hrs/week | $1,701,372 | $0 | $36,743 | $1,738,115 |
| CLIN ADJ FACULTY Highest compensated employee, 40.00 hrs/week | $0 | $1,656,037 | $43,961 | $1,699,998 |
| SRVP & ED COMP CANCER, PRES ENTERPRISE CANCER SERV Highest compensated employee, 40.00 hrs/week | $1,601,249 | $0 | $43,544 | $1,644,793 |
1,415 people received more than $100,000 in reportable compensation from Wake Forest University Health Sciences (Part VII, line 2). Compensation of current officers, directors and key employees totaled $32M (Part IX, line 5).
6 filings since FY2020
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
2024 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b19 · 17 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13Yes
- Document retention policy Part VI 14Yes
- Independent process for top executive pay Part VI 15aYes
- Board given the 990 before filing Part VI 11aYes
- Family or business ties among insiders Part VI 2Yes
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26No
- Lobbying, or a 501(h) election in effect Part IV 4Yes
- Over $15,000 of professional fundraising services Part IV 18Yes
- Over $10,000 of activity outside the U.S. Part IV 14bYes
- Employees Part I, line 52,107
- Volunteers Part I, line 6521
Largest outside contractors
2024 · Form 990, Part VII, Section B · businesses only| BRASFIELD & GORRIE - FRANK L BLUM CONSTR Construction contract services | $151,850,899 |
| NTHRIVE INC Coding, billing, & collection services | $17,943,381 |
| WHITING TURNER CONTRACTING COMPANY Construction contract services | $16,501,156 |
| SHELCO LLC Construction contract services | $9,828,144 |
| CASSIDY TURLEY FIDUCIARY INC Real estate consulting services | $5,450,948 |
Individuals listed as contractors are left out. 171 contractors were paid more than $100,000 in all.
Private foundation grants it received
11 private foundations reported grants to Wake Forest University Health Sciences totaling $2.6M on their tax year 2023 Form 990-PF returns. See which foundations, on WHOFUNDS.
Source: WHOFUNDS open grant graph, matched from Form 990-PF Part XV.
Correct a figure or respond
Every number above is copied from Wake Forest University Health Sciences's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for Wake Forest University Health Sciences, you can publish a response that is linked from this page.
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Of every $100 Wake Forest University Health Sciences spent in 2024, $95.43 went to programs. The full breakdown, from its IRS Form 990:
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Similar-sized charities in this cause
- University of DelawareNewark, DE · revenue $1.69B · programs 89.2% · FY2025
- Case Western Reserve UniversityCleveland, OH · revenue $1.74B · programs 89.1% · FY2025
- Western Governors UniversitySalt Lake City, UT · revenue $1.68B · programs 93.0% · FY2025
- The Medical College of WisconsinMilwaukee, WI · revenue $1.76B · programs 92.0% · FY2025
- William Marsh Rice UniversityHouston, TX · revenue $1.64B · programs 72.1% · FY2025
All education charities · Largest charities in North Carolina
Questions people ask
How much of Wake Forest University Health Sciences's spending goes to programs?
In calendar year 2024, Wake Forest University Health Sciences reported that 95.4% of its $1.61 billion in expenses went to program services, 4.4% to management and general and 0.1% to fundraising (Form 990, Part IX).
How much does Wake Forest University Health Sciences pay its top executive?
The largest total compensation Wake Forest University Health Sciences reported for one person in calendar year 2024 was $7,634,720, for the role of DIRECTOR, CEO AHWFB (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does Wake Forest University Health Sciences get its money?
Of $1.71 billion in revenue in calendar year 2024, 23.5% came from contributions and grants (including 15.9% from government grants) and 71.5% from program service revenue (Form 990, Part VIII).
Is Wake Forest University Health Sciences a registered charity?
The IRS lists EIN 22-3849199 as a 501(c)(3) organization (school), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- 2024: Form 990 for calendar year 2024, object 202533219349312873 · read the filing · XML
- 2023: Form 990 for calendar year 2023, object 202403209349312535 · read the filing
- 2022: Form 990 for calendar year 2022, object 202313189349305691 · read the filing
- FY2021 (6 mo.): Form 990 for the 6-month short period ending December 31, 2021, object 202213189349301751 · read the filing
- FY2021: Form 990 for the fiscal year ending June 30, 2021, object 202221439349300337 · read the filing
- FY2020: Form 990 for the fiscal year ending June 30, 2020, object 202101349349301715 · read the filing
All filings for EIN 22-3849199: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.