Wake Forest University Health Sciences
95% goes to programs $0 to raise $100 Strong reserves Growing revenue
Wake Forest University Health Sciences is a 501(c)(3) organization based in Winstonsalem, North Carolina, registered in 2002, with $1,713,703,683 in FY2024 revenue. CharityIndex grades it A+, and it directs about 95% of spending to programs.
Medical Center Boulevard, Winstonsalem, NC, 27157 EIN 22-3849199 Since 2002
Revenue (FY2024)
$1.7B
▲ 4.3% vs prior year
Education median: $200K
Expenses (FY2024)
$1.6B
Net assets
$1.0B
Employees
2,107
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A+
A+Program efficiency40% of the rating95% 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 Health Sciences: 95% to programs · $0 to raise $100 earns a A+ on this criterion. See the exact thresholds →
AFinancial health25% of the rating8 mo reserves · +6% 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 Health Sciences: 8 mo reserves · +6% 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 Health Sciences: 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 Health Sciences: 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
Patient care and medical expenses in providing services to over 1,621,000 patient encounters during the tax year.
Professional education: instruction of 2,100 medical, graduate, physician assistant, crna, and biomedical engineering students. scholarships and aid provided to 775 students.
Contact & location
- Address
- Medical Center Boulevard, Winstonsalem, NC, 27157
- City
- Winstonsalem
- State
- North Carolina
- Category
- Education
- Subcategory
- Graduate & Professional Schools
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $815.1M (FY2013) to $1.7B (FY2024) across 12 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $1.2BNet assets $1.0B
Operating margin
6.0%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$2.2B
Total liabilities
$1.2B
Net assets
$1.0B
Salaries & benefits
$1.2B
72% of expenses
Board members
19
17 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $1,713,703,683▲4.3% | $1,611,375,512▲4.9% | $1,021,112,831▲3.8% | $2,186,649,419▲4.2% | 990 |
| 2023 | $1,642,738,661▲35.0% | $1,535,945,189▲13.0% | $983,731,950▲18.5% | $2,098,996,618▲8.1% | 990 |
| 2022 | $1,216,917,552▲93.2% | $1,358,890,515▲114% | $830,287,817▼11.9% | $1,941,039,363▼52.2% | 990 |
| 2021 | $629,827,374▼53.2% | $633,532,610▼46.9% | $942,934,354▲1.3% | $4,063,609,787▲98.3% | 990 |
| 2020 | $1,345,440,206▲25.7% | $1,193,111,372▲7.9% | $930,923,081▲68.0% | $2,049,073,606▲25.4% | 990 |
| 2019 | $1,070,156,873▲2.1% | $1,105,965,785▲2.8% | $554,266,555▼1.8% | $1,634,362,996▲13.8% | 990 |
| 2018 | $1,047,919,534▲9.1% | $1,075,819,896▲10.2% | $564,167,504▲0.4% | $1,435,646,931▲1.3% | 990 |
| 2017 | $960,431,388▼4.4% | $975,971,480▲0.1% | $562,114,686▲7.2% | $1,417,037,950▲6.4% | 990 |
| 2016 | $1,004,765,981▲15.4% | $974,549,320▲10.1% | $524,566,785▲8.4% | $1,331,187,161▲2.4% | 990 |
| 2015 | $870,505,011▲10.5% | $885,462,390▲16.5% | $483,917,450▼2.7% | $1,299,473,046▲3.0% | 990 |
| 2014 | $787,843,120▼3.3% | $759,870,455▼12.2% | $497,216,351▲4.4% | $1,262,229,986▲1.6% | 990 |
| 2013 | $815,060,976 | $865,232,909▲17.6% | $476,181,566▼5.8% | $1,242,666,097▲19.0% | 990 |
| 2012 | — | $735,623,586▲4.2% | $505,422,544▼3.1% | $1,044,242,886▼3.7% | 990 |
| 2011 | — | $706,023,590▼4.5% | $521,605,687▼3.2% | $1,084,249,448 | 990 |
| 2010 | — | $739,374,290▼0.9% | $538,967,730▲20.4% | $1,084,323,226▲10.4% | 990 |
| 2009 | — | $746,022,708 | $447,581,125 | $982,135,270 | 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: Julie Ann Freischlag Md — $7,594,629 (0.47% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Julie Ann Freischlag Md | Director, Ceo Ahwfb | 15.7 | $7,594,629 |
| Bradley A Clark | Evp, Treasurer | 1 | $2,513,703 |
| Terry G Williams | Former Officer | 0 | $2,204,442 |
| Edward H Kincaid Md | Academic Faculty Physician - Chair | 40 | $1,751,465 |
| L Ebony Boulware Md | Dean, Wfu School of Medicine | 35 | $1,717,096 |
| Anthony Atala Md | Academic Faculty Physician - Chair | 40 | $1,701,372 |
| Ruben Mesa | Srvp & Ed Comp Cancer, Pres Enterprise Cancer Serv | 40 | $1,601,249 |
| David Zhao Md | Academic Faculty Physician - Section Chief | 40 | $1,549,522 |
| David Zaas Md | President Health System | 20 | $1,314,010 |
| Terry L Hales Jr | Assistant Treasurer | 35.2 | $1,310,800 |
| Kevin P High Md | Former Officer | 0 | $1,277,196 |
| A Dale Jenkins | Chair | 2 | — |
| Brenda Cline | Director | 2 | — |
| Brian A White | Corporate Secretary | 2 | — |
| Cathy Wall Thomas Md | Director (to 6/30/24) | 2 | — |
| Curtis C Farmer | Director | 2 | — |
| David I Wahrhaftig | Director | 2 | — |
| Donald E Flow | Vice Chair | 3 | — |
| Donna A Boswell Phd | Director | 2 | — |
| Frederick W Eubank II | Director | 2 | — |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Brasfield & Gorrie - Frank L Blum Constr | Construction Contract Services | $151,850,899 |
| Nthrive Inc | Coding, Billing, & Collection Services | $17,943,381 |
| Whiting Turner Contracting Company | Construction Contract Services | $16,501,156 |
| Shelco LLC | Construction Contract Services | $9,828,144 |
| Cassidy Turley Fiduciary Inc | Real Estate Consulting Services | $5,450,948 |
Grants received · $172.6M total
443 grants to Wake Forest University Health Sciences totaling $172.6M, reported by foundations on their Schedule I filings — showing the 15 most recent.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| Wake Forest University Baptist Medical Center | Support mission and operations of wfuhs | 2024 | $20,000,000 |
| Alzheimers Disease and Related Disorders Association Inc | Program support | 2024 | $5,950,824 |
| University of Miami | Research | 2024 | $2,172,020 |
| Atrium Health Foundation | Support for medical related research | 2024 | $1,918,981 |
| American Heart Association Inc | Research | 2024 | $1,631,402 |
| American Diabetes Association Inc | Early investigator award | 2024 | $1,620,708 |
| American Cancer Society Inc | Support/research | 2024 | $1,059,036 |
| Lettie Pate Whitehead Foundation Inc | For medical, physician assistant and nursing scholarships. | 2024 | $365,000 |
| Breakthrough T1d | T1d research | 2024 | $248,692 |
| Mayo Clinic | Support charitable programs | 2024 | $220,730 |
| American Diabetes Association Inc | Innovative research to improve the lives of women with diabetes across the lifespan | 2024 | $200,000 |
| American Diabetes Association Inc | Innovative clinical/translational science nutrition | 2024 | $200,000 |
| American Diabetes Association Inc | Innovative clinical or translational science precision medicine | 2024 | $195,243 |
| Cystic Fibrosis Foundation | Cf care center | 2024 | $175,612 |
| Cystic Fibrosis Foundation | Clinical research center | 2024 | $135,817 |
Grants made · $301K in FY2024
7 grants totaling $301K in FY2024. All grants made by Wake Forest University Health Sciences →
| Recipient | Purpose | Amount |
|---|---|---|
| Wilkes County Health Department | Community health initiative | $139,868 |
| Piedmont Triad Partnership | Community health initiative | $50,000 |
| Greater High Point Food Alliance | Community health initiative | $47,500 |
| Action4equity | Community health initiative | $30,257 |
| Lexington Memorial Hospital Foundation Inc | Support | $18,275 |
| Cancer Services Inc | Community health initiative | $10,000 |
| Urology Care Foundation Inc | Community health initiative | $5,500 |
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Frequently asked questions
- Is Wake Forest University Health Sciences a legitimate nonprofit?
- Yes. Wake Forest University Health Sciences is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 22-3849199, based in Winstonsalem, North Carolina. Donations are tax-deductible.
- What is Wake Forest University Health Sciences's EIN?
- Wake Forest University Health Sciences's Employer Identification Number (EIN) is 22-3849199.
- How much revenue does Wake Forest University Health Sciences report?
- Wake Forest University Health Sciences reported $1,713,703,683 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much of Wake Forest University Health Sciences's spending goes to programs?
- Wake Forest University Health Sciences spends about 95% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Wake Forest University Health Sciences have?
- CharityIndex grades Wake Forest University Health Sciences A+, based on program efficiency and fundraising cost.
- How much does Wake Forest University Health Sciences's highest-paid employee make?
- The highest reported compensation on Wake Forest University Health Sciences's latest Form 990 is $7,594,629, paid to Julie Ann Freischlag Md (Director, Ceo Ahwfb).
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Data for Wake Forest University Health Sciences (EIN 22-3849199) 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.