Wake Forest University

Analysis

Wake Forest University is a registered charity in United States, based in Winstonsalem, NC. It received its IRS tax-exemption ruling in May 2001, 25 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 June 2023, Wake Forest University reported income of $686.9m and spending of $654.8m, spending 95% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $636.5m to $686.9m (+7.9%), an average of +1.9% a year. The sharpest change came in the year to June 2021, when income rose by 17%. Over the whole period it spent 91% 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 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 Pace University ($682.6m), McPherson College ($690.6m) and Wgu Corporation ($682.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 11% and program service revenue 79% of the total. Compensation of current officers, directors and key employees was $9.0m (1.4% of expenses). Other salaries and wages came to $238.9m. At year end it held assets of $2.66bn against liabilities of $802.5m, net assets of $1.85bn. It reported 5,772 employees.