Wake Forest University Baptist Medical Center
Also known as Atrium Health Wake Forest Baptist
Wake Forest University Baptist Medical Center reported $172.6 million in revenue and $230.3 million in expenses for calendar year 2024. Of every $100 it spent, $94.09 went to program services, $5.91 to management and general costs and $0.00 to fundraising. Its largest source of revenue was program service revenue such as fees, sales and contracts: 89.0% of the total. The highest compensation it reported for one person was $25,781,279 (CEO ADVOCATE HEALTH). 4,122 people received more than $100,000 in reportable compensation. Revenue rose 27% between FY2020 and 2024. Source: Form 990, 2024.
Where $100 of spending went
Calendar year 2024 · Form 990, Part IX, line 25 · total expenses $230MFor context, the median across 5,634 covered health care charities: $86.19 programs, $13.81 management, $0.00 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 $173M- Contributions & grants (non-government)$5.14 $8.9M
- Program service revenue$88.57 $154M
- Investment income$6.29 $11M
Other revenue was negative: −$852K. The bar shows the positive sources only.
The 990 scorecard · same measures for every charity, no grades
| Measure | 2024 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 94.1% | 85.6% |
| Management & general Part IX 25(C) ÷ 25(A) | 5.9% | 13.7% |
| Fundraising Part IX 25(D) ÷ 25(A) | 0.0% | 0.0% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.00 | $0.00 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 5.2% | 1.3% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 0.0% | 0.1% |
| Program service revenue share Part VIII 2g ÷ 12 | 89.0% | 93.7% |
| Highest reported compensation Part VII-A, columns D–F | $25,781,279 | $975,831 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 11.19% | 1.34% |
| People paid over $100,000 Part VII, line 2 | 4,122 | 27 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | -18.6 | 6.6 |
| Independent voting board members Part VI 1a–1b | 16 of 17 | 88.9% |
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 expenseWake Forest University Baptist Medical center (wfubmc)
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 |
|---|---|---|---|---|
| CEO ADVOCATE HEALTH Officer, 5.00 hrs/week | $22,870,198 | $0 | $2,911,081 | $25,781,279 |
| CEO OF AHWFB Officer, 5.00 hrs/week | $0 | $7,594,629 | $40,091 | $7,634,720 |
| EVP, TREASURER Officer, 4.00 hrs/week | $2,513,703 | $0 | $419,389 | $2,933,092 |
| FORMER OFFICER Former, 0.00 hrs/week | $2,204,442 | $0 | $248,612 | $2,453,054 |
| DEAN, WFU SOM Officer, 5.00 hrs/week | $0 | $1,717,096 | $35,593 | $1,752,689 |
| SVP, GEN COUNSEL & SECRETARY Officer, 5.00 hrs/week | $1,659,102 | $0 | $30,227 | $1,689,329 |
| DIRECTOR Director/trustee, 5.50 hrs/week | $0 | $1,229,582 | $363,435 | $1,593,017 |
| PRES, HEALTH SYSTEM Officer, 20.00 hrs/week | $0 | $1,314,010 | $40,169 | $1,354,179 |
4,122 people received more than $100,000 in reportable compensation from Wake Forest University Baptist Medical Center (Part VII, line 2). Compensation of current officers, directors and key employees totaled $1.0M (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–1b17 · 16 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 18No
- Over $10,000 of activity outside the U.S. Part IV 14bNo
- Employees Part I, line 524,858
- Volunteers Part I, line 6517
Largest outside contractors
2024 · Form 990, Part VII, Section B · businesses only| METRO AVIATION INC Aviation services | $9,081,908 |
| CORNERSTONE HEALTH ENABLEMENT STRATEGIC Healthcare management services | $4,188,935 |
| LANDMARK BUILDERS OF THE TRIAD INC Contruction contractor services | $2,913,769 |
| MAGNOLIA CONSTRUCTION LLC Contruction contractor services | $1,126,392 |
| TRIMEDX HOLDINGS LLC Clinical engineering services | $1,108,136 |
Individuals listed as contractors are left out. 26 contractors were paid more than $100,000 in all.
Private foundation grants it received
8 private foundations reported grants to Wake Forest University Baptist Medical Center totaling $410K 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 Baptist Medical Center'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 Baptist Medical Center, you can publish a response that is linked from this page.
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Of every $100 Wake Forest University Baptist Medical Center spent in 2024, $94.09 went to programs. The full breakdown, from its IRS Form 990:
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All health care charities · Largest charities in North Carolina
Questions people ask
How much of Wake Forest University Baptist Medical Center's spending goes to programs?
In calendar year 2024, Wake Forest University Baptist Medical Center reported that 94.1% of its $230.3 million in expenses went to program services, 5.9% to management and general and 0.0% to fundraising (Form 990, Part IX).
How much does Wake Forest University Baptist Medical Center pay its top executive?
The largest total compensation Wake Forest University Baptist Medical Center reported for one person in calendar year 2024 was $25,781,279, for the role of CEO ADVOCATE HEALTH (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does Wake Forest University Baptist Medical Center get its money?
Of $172.6 million in revenue in calendar year 2024, 5.2% came from contributions and grants and 89.0% from program service revenue (Form 990, Part VIII).
Is Wake Forest University Baptist Medical Center a registered charity?
The IRS lists EIN 51-0190238 as a 501(c)(3) organization (supporting organization, type i), 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 202543219349301534 · read the filing · XML
- 2023: Form 990 for calendar year 2023, object 202433209349300838 · read the filing
- 2022: Form 990 for calendar year 2022, object 202333189349306028 · read the filing
- FY2021 (6 mo.): Form 990 for the 6-month short period ending December 31, 2021, object 202213189349300346 · read the filing
- FY2021: Form 990 for the fiscal year ending June 30, 2021, object 202241439349301274 · read the filing
- FY2020: Form 990 for the fiscal year ending June 30, 2020, object 202141349349301714 · read the filing
All filings for EIN 51-0190238: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.