Wake Forest University Health Sciences

Analysis

Wake Forest University Health Sciences is a registered charity in United States, based in Winstonsalem, NC. It received its IRS tax-exemption ruling in September 2002, 24 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2022, Wake Forest University Health Sciences reported income of $1.22bn and spending of $1.36bn, spending 112% of what it took in. Across the 5 years on record, from June 2019 to December 2022, income grew from $1.05bn to $1.22bn (+16%), an average of +3.8% a year. The sharpest change came in the year to December 2022, when income rose by 93%. Over the whole period it spent 101% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Wake Forest University Health Sciences sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within NC. Charities of a similar size with the same main cause include St Louis University ($1.13bn), Howard University ($1.27bn) and William Marsh Rice University ($1.13bn).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 23% and program service revenue 80% of the total. Compensation of current officers, directors and key employees was $27.0m (2.0% of expenses). Other salaries and wages came to $736.3m. It paid $1.3m in professional fundraising fees. At year end it held assets of $1.94bn against liabilities of $1.11bn, net assets of $830.3m. It reported 2,135 employees.