Wake Forest University Foundation

Analysis

Wake Forest University Foundation is a registered charity in United States, based in Winston Salem, NC. It received its IRS tax-exemption ruling in July 1998, 28 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Wake Forest University Foundation reported income of $165k and spending of $259k, spending 157% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $14k to $165k (+1109%), an average of +86% a year. The sharpest change came in the year to June 2023, when income rose by 406%. Over the whole period it spent 546% 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 Foundation sits at the 51st percentile: it is larger than about 50% of them. Against every charity in United States with reported income it ranks in the 49th percentile, and in the 47th percentile within NC. Charities of a similar size with the same main cause include Chesterton Academy of Omaha ($165k), Gamma Theta Foundation Inc ($165k) and El Dorado County Ag in the Classroom ($165k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. At year end it held assets of $7.5m against liabilities of $2.5m, net assets of $5.0m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.