Wake Forest University
86% goes to programs $23 to raise $100 Strong reserves
Wake Forest University is a 501(c)(3) organization based in Winstonsalem, North Carolina, registered in 2001, with $764,367,570 in FY2023 revenue. CharityIndex grades it A, and it directs about 86% of spending to programs.
1834 Wake Forest Road, Winstonsalem, NC, 27109 EIN 56-0532138 Since 2001
Revenue (FY2023)
$764.4M
▲ 11.3% vs prior year
Education median: $200K
Expenses (FY2023)
$705.7M
Net assets
$2.0B
Employees
5,997
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A
B+Program efficiency40% of the rating86% to programs · $23 to raise $100
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For Wake Forest University: 86% to programs · $23 to raise $100 earns a B+ on this criterion. See the exact thresholds →
AFinancial health25% of the rating34 mo reserves · +8% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Wake Forest University: 34 mo reserves · +8% margin earns a A on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Wake Forest University: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
A+Transparency10% of the rating5 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Wake Forest University: 5 of 5 disclosure signals earns a A+ on this criterion. See the exact thresholds →
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Mission
Wake forest university is an institution of higher education dedicated to the pursuit of excellence in the liberal arts and in graduate and professional education. it operates wake forest college, a graduate school of arts and sciences, a school of professional studies, and four professional schools.
What they do
Residence halls & dining:in the interest of building community, wake forest requires all undergraduates to live on campus for at least three years. of the 156 research institutions with data in one recent survey, only nine (5.8%) required three or four years of on-campus residency. the university has done its part in this endeavor by acquiring, building or substantially renovating all residence halls in the past decade. the division of residence life and housing (rlh) maintains 27 facilities. they are equipped with high-speed internet service and include common areas suited to group study. the division of dining services includes 17 locations. the main dining hall, affectionately known as the pit, serves cafeteria-style food with several distinct areas, including vegan, gluten-free and other diet-specific options. athletics:wake forest fields 18 intercollegiate athletics teams nine for men and nine for women in the ncaa's division i and the atlantic coast conference, of which it is a charter member. the university's undergraduate enrollment is the smallest of any school in the four most financially and athletically potent division i conferences, but that size is a strength rather than a weakness. the distinction helps the university attract student-athletes who excel in competition and academics. across all sports, wake forest posted a 96% ncaa-measured graduation report in a report released in 2024. the institutional-level report measured graduation rates of 14 wake forest sport cohorts, considering teams in indoor track, outdoor track and cross country as one entity per gender. of those 14 groups, seven posted perfect scores of 100%. demon deacon teams have won 10 ncaa team championships in six unique sports. men's golf and field hockey have won three each and women's golf, men's tennis, men's soccer and baseball have one title apiece. in the spring of 2023, the women's golf team won its first ncaa title and the baseball team advanced to the semifinal stage of the college world series.
Campus life:wake forest is committed to putting the spirit of its motto, pro humanitate, in action. student organizations: approximately 200 student organizations are active at wake forest, providing extracurricular learning and service opportunities for their members and ancillary benefit to the campus and local communities. they are centered around academic and professional development; business development; recreational-sports participation; fraternity and sorority life; cultural affiliation and affinity; media; fine-arts performance and exhibition; student governance; and other focal points. community outreach: in addition to student-run organizations, the office of civic and community engagement partners with approximately 120 projects and institutions across policy areas including aging; poverty; health; food access; various children's matters; education; and environmental sustainability. in the 2023-24 academic year, wake forest was one of only two north carolina colleges to receive funds for an important initiative, public health americorps. over the year, 14 students partnered with eight unique community organizations to help meet various public-health needs. in 2023-24, more than 42% of undergraduates participated in one or both of the major campus fundraising events supporting cancer research. wellbeing: the university believes its obligation to students transcends classroom learning and extends to general health and wellbeing. in 2017, the university opened the renovated reynolds gym and the new sutton center, collectively known as the wake forest wellbeing center. the project immediately increased space dedicated to personal and group fitness; doubled the size of the student health center; and led to an increase in gym usage. a member of the wake forest community enters the facility every 68 seconds.in early 2023, wake forest announced the creation of we, a campus-wide initiative in support of mental health. the program works wit
Contact & location
- Address
- 1834 Wake Forest Road, Winstonsalem, NC, 27109
- City
- Winstonsalem
- State
- North Carolina
- Category
- Education
- Subcategory
- Colleges & Universities
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $516.2M (FY2013) to $764.4M (FY2023) across 11 reported years.
Financial snapshot
Financial health & position (FY2023)
Liabilities $816.6MNet assets $2.0B
Operating margin
7.7%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$2.8B
Total liabilities
$816.6M
Net assets
$2.0B
Salaries & benefits
$337.5M
48% of expenses
Board members
50
47 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2023 | $764,367,570▲11.3% | $705,687,576▲7.8% | $1,987,495,542▲7.3% | $2,804,123,401▲5.6% | 990 |
| 2022 | $686,860,190▼4.0% | $654,792,741▲4.3% | $1,852,639,493▲3.5% | $2,655,159,124▲3.2% | 990 |
| 2021 | $715,438,504▲4.9% | $627,965,784▲7.3% | $1,789,930,683▲1.7% | $2,572,484,456▲0.1% | 990 |
| 2020 | $681,736,258▲16.8% | $585,188,441▲1.3% | $1,760,045,157▲22.0% | $2,570,183,256▲20.1% | 990 |
| 2019 | $583,443,727▼8.3% | $577,597,318▲4.3% | $1,442,169,267▲0.3% | $2,139,822,388▲2.4% | 990 |
| 2018 | $636,454,264▲9.1% | $553,710,404▲7.6% | $1,438,216,509▲5.6% | $2,089,648,634▲8.9% | 990 |
| 2017 | $583,361,532▼10.3% | $514,451,794▲3.4% | $1,362,334,420▲6.1% | $1,919,040,249▲5.2% | 990 |
| 2016 | $650,698,331▲34.9% | $497,688,005▲4.1% | $1,283,567,432▲14.7% | $1,824,862,917▲13.3% | 990 |
| 2015 | $482,299,853▼10.9% | $478,079,836▲5.5% | $1,119,014,069▼0.3% | $1,611,251,705▲2.8% | 990 |
| 2014 | $541,016,369▲4.8% | $453,328,263▲0.4% | $1,121,860,029▲4.4% | $1,567,238,243▲4.2% | 990 |
| 2013 | $516,247,009 | $451,348,045▲8.9% | $1,075,011,014▲10.3% | $1,503,979,756▲3.9% | 990 |
| 2012 | — | $414,540,069▲3.5% | $975,031,857▲10.8% | $1,447,663,313▲18.6% | 990 |
| 2011 | — | $400,402,117▲4.9% | $879,923,094▼0.9% | $1,221,139,374▲0.7% | 990 |
| 2010 | — | $381,652,270▲7.9% | $887,558,184▲17.5% | $1,213,005,269▲12.7% | 990 |
| 2009 | — | $353,610,569 | $755,394,125 | $1,076,404,288 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2023)
Highest-paid: David P Clawson — $4,774,547 (0.68% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| David P Clawson | Football Coach | 40 | $4,774,547 |
| Steve Forbes | Men's Bktball Co | 40 | $2,281,576 |
| Susan R Wente Phd | President & Trustee | 29.3 | $1,473,696 |
| John A Currie | Director of Athletics | 40 | $1,146,384 |
| Warren D Ruggiero | F'ball Offensive Coordinat | 40 | $1,067,221 |
| B Hofler Milam | Former Evp, Cfo, Treas | 40 | $1,041,654 |
| Mark A Petersen | Svp - Advancement | 40 | $1,012,992 |
| Tom Walter | Baseball Coach | 40 | $915,597 |
| Brad Lambert | F'ball Defensive Coordinat | 40 | $900,717 |
| Michele Gillespie Phd | Provost | 40 | $741,870 |
| J Reid Morgan | S.vp, Sec, G.c. | 19.7 | $690,571 |
| Jacqueline A Travisano Edd | Evp, Cfo, Treas | 36.5 | $664,838 |
| Annette Ranft Phd | Dean, School of Business | 40 | $550,168 |
| Charles L Iacovou Phd | Dean, School of Profession | 40 | $539,320 |
| Rogan Kersh Phd | Former Provost | 40 | $515,937 |
| Brian A White | Vp, Corp. Sec, G.c. | 19.7 | $386,863 |
| Anthony P Marsh Phd | Interim Dean, Wake Forest College | 40 | $353,215 |
| Jackie Krasas Phd | Dean, Wake Forest College | 40 | $289,703 |
| Anita M Conrad | Asst Secretary | 21 | $218,902 |
| A Dale Jenkins | Committee Chair | 4 | — |
Top vendors & contractors (FY2023)
| Contractor | Services | Paid |
|---|---|---|
| Aramark Services Inc | Food Service | $31,020,682 |
| The Whiting Turner Contracting Company | Construction | $16,314,705 |
| Frank L Blum Construction Company | Construction | $11,345,238 |
| James R Vannoy & Sons Constructions Co | Construction | $5,267,115 |
| Embanet-compass Knowledge Group Inc | Online Education | $4,923,156 |
Grants received · $494.9M total
532 grants to Wake Forest University totaling $494.9M, reported by foundations on their Schedule I filings — showing the 15 most recent.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| Winston-salem Foundation | 84 grant(s) for varying purposes | 2024 | $1,665,831 |
| Morgan Stanley Global Impact Funding Trust Inc | Unrestricted general support | 2024 | $1,097,250 |
| Daffy Charitable Fund | General support of mission | 2024 | $350,000 |
| Gs Donor Advised Philanthropy Fund For Wealth Management Inc | Education | 2024 | $324,600 |
| Ayco Charitable Foundation | Education | 2024 | $317,280 |
| American Online Giving Foundation Inc | General support | 2024 | $264,387 |
| American Endowment Foundation | Educational | 2024 | $227,785 |
| Charities Aid Foundation America | Charitable donation | 2024 | $210,663 |
| Foundation For the Carolinas | Charitable gift | 2024 | $188,500 |
| Givewell Community Foundation Inc | Education - college | 2024 | $100,000 |
| The Us Charitable Gift Trust | For recipient's exempt purpose | 2024 | $97,710 |
| T Rowe Price Program For Charitable Giving Inc | Multiple | 2024 | $86,525 |
| A J Fletcher Foundation | Wake forest school of law fletcher scholars program | 2024 | $85,000 |
| Mayo Clinic Group Return | Support charitable purpose | 2024 | $79,826 |
| The New York Community Trust | For a scholarship award. | 2024 | $75,000 |
Grants made · $6.3M in FY2023
81 grants totaling $6.3M in FY2023 — showing the 15 largest. All grants made by Wake Forest University →
| Recipient | Purpose | Amount |
|---|---|---|
| Wake Forest University Health Sciences | Research subcontract | $1,484,596 |
| Reynolda House Inc | Operations support | $582,000 |
| Regents of the University of Colorado | Research subcontract | $475,827 |
| The Pennsylvania State University | Research subcontract | $390,656 |
| University of North Carolina At Chapel Hill | Research subcontract | $389,098 |
| Dallas Baptist University | Charitable contribution | $228,880 |
| Mass General Brigham Incorporated | Research subcontract | $223,773 |
| Curators of the University of Missouri | Research subcontract | $207,889 |
| North Carolina Black Repertory Company Inc | Research subcontract | $186,600 |
| Rutgers the State University | Research subcontract | $154,232 |
| Lenoir County Aids Task Force | Research subcontract | $90,000 |
| Lenoir County Aids Task Force | Research subcontract | $90,000 |
| Brown University of Providence | Research subcontract | $76,339 |
| Freedom Center For Social Justice | Research subcontract | $75,000 |
| Princeton University | Research subcontract | $72,222 |
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Frequently asked questions
- Is Wake Forest University a legitimate nonprofit?
- Yes. Wake Forest University is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 56-0532138, based in Winstonsalem, North Carolina. Donations are tax-deductible.
- What is Wake Forest University's EIN?
- Wake Forest University's Employer Identification Number (EIN) is 56-0532138.
- How much revenue does Wake Forest University report?
- Wake Forest University reported $764,367,570 in total revenue on its fiscal year 2023 IRS Form 990 filing.
- How much of Wake Forest University's spending goes to programs?
- Wake Forest University spends about 86% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Wake Forest University have?
- CharityIndex grades Wake Forest University A, based on program efficiency and fundraising cost.
- How much does Wake Forest University's highest-paid employee make?
- The highest reported compensation on Wake Forest University's latest Form 990 is $4,774,547, paid to David P Clawson (Football Coach).
More nonprofits in Winstonsalem
Explore more
Data for Wake Forest University (EIN 56-0532138) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.