Wake Forest University Baptist Medical Center
94% goes to programs $0 to raise $100 Thin reserves Growing revenue
Wake Forest University Baptist Medical Center is a 501(c)(3) organization based in Winstonsalem, North Carolina, registered in 1976, with $172,627,029 in FY2024 revenue. CharityIndex grades it C, and it directs about 94% of spending to programs.
Medical Center Boulevard, Winstonsalem, NC, 27157 EIN 51-0190238 Since 1976
Revenue (FY2024)
$172.6M
▲ 5.7% vs prior year
Health median: $840K
Expenses (FY2024)
$230.3M
Net assets
-$356.7M
Employees
24,858
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
C
★★★★
Rated on 4 of 4 criteria.
Held down by its weakest criterion — a strong score on one criterion can't hide a weak one.
How the rating works →C+Program efficiency40% of the rating94% to programs · $0 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 Baptist Medical Center: 94% to programs · $0 to raise $100 earns a C+ on this criterion. See the exact thresholds →
FFinancial health25% of the rating0 mo reserves · -33% 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 Baptist Medical Center: 0 mo reserves · -33% margin earns a F 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 Baptist Medical Center: 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 Baptist Medical Center: 5 of 5 disclosure signals earns a A+ on this criterion. See the exact thresholds →
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Mission
To improve health, elevate hope, and advance healing for all
What they do
Wake forest health network, llc (wfhn) - see schedule o
Wake air care, llc (aircare) - see schedule o
Hpca llc and forsyth community pcc, llc - see schedule o
Contact & location
- Address
- Medical Center Boulevard, Winstonsalem, NC, 27157
- City
- Winstonsalem
- State
- North Carolina
- Category
- Health Care
- Subcategory
- Support Foundations & Fundraising
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $322K (FY2013) to $172.6M (FY2024) across 12 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $1.0BNet assets -$356.7M
Operating margin
-33.4%
Spent more than it raised in the latest fiscal year.
Total assets
$648.8M
Total liabilities
$1.0B
Net assets
-$356.7M
Salaries & benefits
$126.8M
55% of expenses
Board members
17
16 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $172,627,029▲5.7% | $230,304,142▲16.4% | -$356,742,790▼19.4% | $648,834,754▲14.0% | 990 |
| 2023 | $163,386,699▼3.6% | $197,909,707▲7.0% | -$298,705,145▼13.1% | $569,235,159▲12.3% | 990 |
| 2022 | $169,430,781▲139% | $184,950,341▲86.0% | -$264,067,158▼6.1% | $507,015,665▼11.1% | 990 |
| 2021 | $71,035,628▼65.5% | $99,449,912▼34.2% | -$248,958,748▼9.8% | $570,543,990▲27.8% | 990 |
| 2020 | $205,958,249▲51.9% | $151,025,697▼0.9% | -$226,673,981▼36.2% | $446,443,070▲40.3% | 990 |
| 2019 | $135,588,853▼4.1% | $152,452,854▼6.9% | -$166,416,382▼9.1% | $318,317,044▼6.8% | 990 |
| 2018 | $141,446,455▼1.7% | $163,752,837▲17.8% | -$152,557,719▼225% | $341,415,288▼12.7% | 990 |
| 2017 | $143,937,875▲0.5% | $138,982,200▼11.3% | $122,533,703▲23.9% | $391,300,256▲0.8% | 990 |
| 2016 | $143,160,669▲452% | $156,616,705▲388% | $98,910,198▼23.0% | $388,126,708▲49.6% | 990 |
| 2015 | $25,929,187▲456% | $32,105,390▲2836% | $128,505,089▲27.2% | $259,528,515▲11.5% | 990 |
| 2014 | $4,664,620▲1347% | $1,093,449▲4.6% | $100,996,251▲22.4% | $232,734,353▲12.5% | 990 |
| 2013 | $322,352 | $1,045,792▲200% | $82,528,687▲11.3% | $206,904,716▲3.1% | 990 |
| 2012 | — | $348,633▲82.7% | $74,167,215 | $200,650,912▲252% | 990 |
| 2011 | — | $190,873▲1387% | $0 | $56,983,145▲164% | 990 |
| 2010 | — | $12,836▼49.8% | $0 | $21,556,774▲968% | 990 |
| 2009 | — | $25,582 | $0 | $2,018,545 | 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 (FY2024)
Highest-paid: Eugene A Woods — $22,870,198 (9.93% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Eugene A Woods | Ceo Advocate Health | 5 | $22,870,198 |
| Bradley A Clark | Evp, Treasurer | 4 | $2,513,703 |
| Terry G Williams | Former Officer | 0 | $2,204,442 |
| J Mclain Wallace Jr | Svp, Gen Counsel & Secretary | 5 | $1,659,102 |
| Cathleen Wheatley Dnp | Pres Wfbmc, Svp Cno | 40 | $1,249,664 |
| A Mick Fisher | Svp, Chro Wfb | 25 | $985,312 |
| Lisa M Marshall | Vp, Chief Phil Off | 20 | $974,433 |
| Rami Badreddine Md | Physician | 40 | $885,618 |
| Todd Bankhead | Svp Clinical Ops, Coo | 40 | $862,124 |
| Michael T Waid | Svp, Health System Ops | 5 | $836,668 |
| Stephan L Lillie | Svp & Cfo | 10 | $666,639 |
| A Dale Jenkins | Director | 4 | — |
| A Lee Herring | Director | 4 | — |
| Arthur A Gibel | Director | 4 | — |
| Brian A White | Director | 4 | — |
| David Zaas Md | Pres, Health System | 20 | — |
| Donald E Flow | Vice Chair | 4 | — |
| Donna A Boswell Phd | Director | 4 | — |
| Felicia Allen | Director | 4 | — |
| John M Vann | Director | 4 | — |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| 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 |
Grants received · $8.4M total
35 grants to Wake Forest University Baptist Medical Center totaling $8.4M, reported by foundations on their Schedule I filings — showing the 15 most recent.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| Winston-salem Foundation | 155 grant(s) for varying purposes | 2024 | $918,733 |
| Atrium Health Foundation | Support for medical related programs and equipment | 2024 | $124,500 |
| Foundation For the Carolinas | Charitable gift | 2024 | $25,000 |
| American Cancer Society Inc | Patient support | 2024 | $25,000 |
| American Online Giving Foundation Inc | General support | 2024 | $13,226 |
| Winston-salem Foundation | 162 grant(s) for varying purposes | 2023 | $1,131,148 |
| Atrium Health Foundation | Support for medical related programs and equipment | 2023 | $166,500 |
| Cornell University | Research | 2023 | $38,774 |
| Donor Advised Charitable Giving | Health | 2023 | $6,500 |
| American Online Giving Foundation Inc | General support | 2023 | $6,293 |
| Fidelity Investments Charitable Gift Fund | For grant recipient's exempt purposes | 2023 | $5,500 |
| Winston-salem Foundation | 145 grant(s) for varying purposes | 2022 | $1,159,586 |
| Cornell University | Research | 2022 | $5,371 |
| American Endowment Foundation | Health, general | 2022 | $5,000 |
| Winston-salem Foundation | 167 grant(s) for varying purposes | 2021 | $2,049,004 |
Grants made · $20.0M in FY2024
1 grant totaling $20.0M in FY2024. All grants made by Wake Forest University Baptist Medical Center →
| Recipient | Purpose | Amount |
|---|---|---|
| Wake Forest University Health Sciences | Support mission and operations of wfuhs | $20,000,000 |
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Frequently asked questions
- Is Wake Forest University Baptist Medical Center a legitimate nonprofit?
- Yes. Wake Forest University Baptist Medical Center is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 51-0190238, based in Winstonsalem, North Carolina. Donations are tax-deductible.
- What is Wake Forest University Baptist Medical Center's EIN?
- Wake Forest University Baptist Medical Center's Employer Identification Number (EIN) is 51-0190238.
- How much revenue does Wake Forest University Baptist Medical Center report?
- Wake Forest University Baptist Medical Center reported $172,627,029 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much of Wake Forest University Baptist Medical Center's spending goes to programs?
- Wake Forest University Baptist Medical Center spends about 94% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Wake Forest University Baptist Medical Center have?
- CharityIndex grades Wake Forest University Baptist Medical Center C, based on program efficiency and fundraising cost.
- How much does Wake Forest University Baptist Medical Center's highest-paid employee make?
- The highest reported compensation on Wake Forest University Baptist Medical Center's latest Form 990 is $22,870,198, paid to Eugene A Woods (Ceo Advocate Health).
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Explore more
Data for Wake Forest University Baptist Medical Center (EIN 51-0190238) 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.