Form990
Click to see attachment
Department of the Treasury
Internal Revenue Service
Return of Organization Exempt From Income Tax
Under section 501(c), 527, or 4947(a)(1) of the Internal Revenue Code (except black lung benefit trust or private foundation)

MediumBullet The organization may have to use a copy of this return to satisfy state reporting requirements.
OMB No. 1545-0047
2010
Open to Public Inspection
A For the calendar year, or tax year beginning 07-01-2010 and ending 06-30-2011
BCheck if applicable:
CName of organization
WAKE FOREST UNIVERSITY
 
Doing Business As
 
 
Number and street (or P.O. box if mail is not delivered to street address)
PO BOX 7201
 
Room/suite
City or town, state or country, and ZIP + 4
WINSTONSALEM, NC27109
D Employer identification number

56-0532138
E Telephone number

G Gross receipts $ 632,359,872
F Name and address of principal officer:
Nathan O Hatch PhD
 
 
I
Tax-exempt status: (   ) LeftBullet (insert no.) or
J
Website:MediumBullet
www.wfu.edu
H(a)
Is this a group return for
affiliates?
H(b)
Are all affiliates included?
If "No," attach a list. (see instructions)
H(c)
Group exemption number MediumBullet3743
K Form of organization:
 
L Year of formation: 1834
M State of legal domicile: NC
Part I
Summary
Activities & Governance 1 Briefly describe the organization’s mission or most significant activities: 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 two undergraduate institutions, a graduate school, and four professional schools.
2 Check this box MediumBullet
3 Number of voting members of the governing body (Part VI, line 1a) .... 3 44
4 Number of independent voting members of the governing body (Part VI, line 1b) .... 4 41
5 Total number of individuals employed in calendar year 2010 (Part V, line 2a) ... 5 5,479
6 Total number of volunteers (estimate if necessary) .... 6 1,570
7a Total unrelated business revenue from Part VIII, column (C), line 12 .. 7a 792,451
b Net unrelated business taxable income from Form 990-T, line 34 .. 7b -3,312,775
Revenues; Prior Year Current Year
8 Contributions and grants (Part VIII, line 1h) ......... 48,508,165 118,321,877
9 Program service revenue (Part VIII, line 2g) ......... 283,221,184 296,020,503
10 Investment income (Part VIII, column (A), lines 3, 4, and 7d ) .... 17,954,608 38,006,414
11 Other revenue (Part VIII, column (A), lines 5, 6d, 8c, 9c, 10c, and 11e) 10,048,678 7,135,244
12 Total revenue—add lines 8 through 11 (must equal Part VIII, column (A), line 12)................... 359,732,635 459,484,038
Expenses; 13 Grants and similar amounts paid (Part IX, column (A), lines 1–3 )... 69,420,845 74,729,447
14 Benefits paid to or for members (Part IX, column (A), line 4) ....   0
15 Salaries, other compensation, employee benefits (Part IX, column (A), lines 5–10) 173,867,840 190,473,838
16a Professional fundraising fees (Part IX, column (A), line 11e).... 723,710 1,017,650
b Total fundraising expenses (Part IX, column (D), line 25) MediumBullet17,267,204    
17 Other expenses (Part IX, column (A), lines 11a–11d, 11f–24f).... 109,598,174 115,431,335
18 Total expenses. Add lines 13–17 (must equal Part IX, column (A), line 25) 353,610,569 381,652,270
19 Revenue less expenses. Subtract line 18 from line 12...... 6,122,066 77,831,768
Net Assets or Fund Balances; Beginning of Current Year End of Year
20 Total assets (Part X, line 16)............ 1,076,404,288 1,213,005,269
21 Total liabilities (Part X, line 26)............ 321,010,163 325,447,085
22 Net assets or fund balances. Subtract line 21 from line 20 ..... 755,394,125 887,558,184
Part II
Signature Block
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than officer) is based on all information of which preparer has any knowledge.
Sign Here
JumboBullet
Signature of officer Date
JumboBullet
Type or print name and title.
Paid Preparer's Use Only Preparer's
signatureBig Right Arrow 		Date
right pointing bullet image Preparer’s taxpayer identification number
(see instructions)
Firm’s name (or yours
if self-employed),
address, and ZIP + 4Big Right Arrow




 		EIN right pointing bullet image
Phone no. right pointing bullet image
May the IRS discuss this return with the preparer shown above? (see instructions) .........
For Privacy Act and Paperwork Reduction Act Notice, see the separate instructions.
Cat. No. 11282Y
Form 990 (2010)
Form 990 (2010)
Page 2
Part III
Statement of Program Service Accomplishments
Check if Schedule O contains a response to any question in this Part III . . . . . . . . . .
1
Briefly describe the organization’s mission: Wake Forest University, a 501(c)(3) institution of higher education, is dedicated to the pursuit of excellence in the liberal arts and in graduate and professional education.The organization is comprised of seven constituent parts: two undergraduate institutions, Wake Forest College and the Calloway School of Business and Accountancy; the Graduate School; and four professional schools: the School of Law, the School of Medicine, the Babcock Graduate School of Management and the School of Divinity. It seeks to honor the ideals of liberal learning, which entail commitment to transmission of cultural heritages; teaching the modes of learning in the basic disciplines of human knowledge; developing critical appreciation of moral, aesthetic and religious values; advancing the frontiers of knowledge through in-depth study and research; and applying knowledge in the service of humanity.
2
Did the organization undertake any significant program services during the year which were not listed on
the prior Form 990 or 990-EZ? ....................
If “Yes,” describe these new services on Schedule O.
3
Did the organization cease conducting, or make significant changes in how it conducts, any program services? ..........................
If “Yes,” describe these changes on Schedule O.
4
Describe the exempt purpose achievements for each of the organization’s three largest program services by expenses.
Section 501(c)(3) and 501(c)(4) organizations and section 4947(a)(1) trusts are required to report the amount of grants and allocations to others, the total expenses, and revenue, if any, for each program service reported.
4a (Code:   ) (Expenses $ 156,504,993 including grants of $ 61,747,329 ) (Revenue $ 236,972,506 )
Instruction of approximately 6,768 students in graduate and undergraduate programs. In addition to the U.S. campus, Wake Forest maintains five student learning centers in Europe, and has numerous study abroad programs available. WFU provides opportunities for foreign students to enter degree programs at the U.S. Campus. The Office of International Programs manages the student exchange and study abroad programs, with visiting students from 40 different countries. More than 60% of our U.S. students travel abroad for at least one program. Scholarships are awarded to eligible students based on financial need and academic merit. 60.8% of the graduate and undergraduate student population received financial aid awards. Approximately 4,113 students received scholarships from the institution during the year.
4b (Code:   ) (Expenses $ 85,867,394 including grants of $ 11,679,144 ) (Revenue $ 67,021,275 )
Wake Forest maintains campus bookstores, housing and dining facilities, mail services and other program services, including Athletics. Athletic scholarships provided funding for 285 athletes during the fiscal year. The Wake Forest conference center serves both University and external constituencies. WFDD-FM Radio, the University's Public Broadcasting Station, provides a venue for teaching and learning as well as communication. The station serves the 32-county Winston-Salem, Greensboro, High Point market bringing music and culture, news and information to the public at large.
4c (Code:   ) (Expenses $ 49,150,953 including grants of $ 600,507 ) (Revenue $   )
Wake Forest University maintains a campus with academic buildings, research laboratories, student dormitories, with space for fraternities and sororities, and recreational facilities. The grounds add to the student experience. The organization also has other auxiliary enterprises designed to enhance and improve the University and the surrounding community. The University supports, with occasional gifts, local exempt organizations, in order to enhance arts and culture in the area.
4d Other program services. (Describe in Schedule O.)
(Expenses $ 21,850,973 including grants of $ 1,133,664 ) (Revenue $ 10,257,543 )
4e Total program service expensesMediumBullet$ 313,374,313
Form 990 (2010)
Form 990 (2010)
Page 3
Part IV
Checklist of Required Schedules
Yes
No
1
Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)? If “Yes,” complete Schedule AClick to see attachment.....................
1
Yes
 
2
Is the organization required to complete Schedule B, Schedule of Contributors? Click to see attachment........
2
Yes
 
3
Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office? If “Yes,” complete Schedule C, Part IClick to see attachment..........
3
 
No
4
Section 501(c)(3) organizations. Did the organization engage in lobbying activities? If “Yes,” complete Schedule C,
Part IIClick to see attachment.........................
4
Yes
 
5
Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Revenue Procedure 98-19? If “Yes,” complete Schedule C, Part IIIClick to see attachment........................
5
 
No
6
Did the organization maintain any donor advised funds or any similar funds or accounts where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts? If “Yes,” complete
Schedule D, Part IClick to see attachment.......................
6
Yes
 
7
Did the organization receive or hold a conservation easement, including easements to preserve open space,
the environment, historic land areas or historic structures? If “Yes,” complete Schedule D, Part IIClick to see attachment...
7
 
No
8
Did the organization maintain collections of works of art, historical treasures, or other similar assets? If “Yes,” complete Schedule D, Part III Click to see attachment....................
8
Yes
 
9
Did the organization report an amount in Part X, line 21; serve as a custodian for amounts not listed in Part X; or provide credit counseling, debt management, credit repair, or debt negotiation services? If “Yes,”
complete Schedule D, Part IVClick to see attachment...................
9
Yes
 
10
Did the organization, directly or through a related organization, hold assets in term, permanent,or quasi-endowments? If “Yes,” complete Schedule D, Part VClick to see attachment
10
Yes
 
11
If the organization’s answer to any of the following questions is ‘Yes,’ then complete Schedule D, Parts VI, VII, VIII, IX, or X as applicable:
a
Did the organization report an amount for land, buildings, and equipment in Part X, line10? If “Yes,” complete Schedule D, Part VI.Click to see attachment
11a
Yes
 
b
Did the organization report an amount for investments—other securities in Part X, line 12 that is 5% or more of its total assets reported in Part X, line 16? If “Yes,” complete Schedule D, Part VII.Click to see attachment
11b
Yes
 
c
Did the organization report an amount for investments—program related in Part X, line 13 that is 5% or more of its total assets reported in Part X, line 16? If “Yes,” complete Schedule D, Part VIII.Click to see attachment
11c
 
No
d
Did the organization report an amount for other assets in Part X, line 15 that is 5% or more of its total assets reported in Part X, line 16? If “Yes,” complete Schedule D, Part IX.Click to see attachment
11d
 
No
e
Did the organization report an amount for other liabilities in Part X, line 25? If “Yes,” complete Schedule D, Part X.Click to see attachment
11e
Yes
 
f
Did the organization’s separate or consolidated financial statements for the tax year include a footnote that addresses the organization’s liability for uncertain tax positions under FIN 48 (ASC 740)? If “Yes,” complete Schedule D, Part X.Click to see attachment
11f
Yes
 
12a
Did the organization obtain separate, independent audited financial statements for the tax year? If “Yes,” complete Schedule D, Parts XI, XII, and XIII Click to see attachment
12a
 
No
b
Was the organization included in consolidated, independent audited financial statements for the tax year? If “Yes,” and if the organization answered ‘No’ to line 12a, then completing Schedule D, Parts XI, XII, and XIII is optional Click to see attachment
12b
Yes
 
13
Is the organization a school described in section 170(b)(1)(A)(ii)? If “Yes,” complete Schedule EClick to see attachment
13
Yes
 
14a
Did the organization maintain an office, employees, or agents outside of the United States?....
14a
Yes
 
b
Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, and program service activities outside the United States? If “Yes,” complete Schedule F, Part I......... Click to see attachment
14b
Yes
 
15
Did the organization report on Part IX, column (A), line 3, more than $5,000 of grants or assistance to any organization or entity located outside the U.S.? If “Yes,” complete Schedule F, Part II.. Click to see attachment
15
Yes
 
16
Did the organization report on Part IX, column (A), line 3, more than $5,000 of aggregate grants or assistance to individuals located outside the U.S.? If “Yes,” complete Schedule F, Part III.. Click to see attachment
16
Yes
 
17
Did the organization report a total of more than $15,000, of expenses for professional fundraising services on Part IX, column (A), lines 6 and 11e? If “Yes,” complete Schedule G, Part IClick to see attachment
17
Yes
 
18
Did the organization report more than $15,000 total of fundraising event gross income and contributions on Part VIII, lines 1c and 8a? If “Yes,” complete Schedule G, Part II.......... Click to see attachment
18
Yes
 
19
Did the organization report more than $15,000 of gross income from gaming activities on Part VIII, line 9a? If “Yes,” complete Schedule G, Part III................... Click to see attachment
19
 
No
Form 990 (2010)
Form 990 (2010)
Page 4
Part IV
Checklist of Required Schedules (continued)
20a
Did the organization operate one or more hospitals? If “Yes,” complete Schedule H.....
20a
 
No
b
Did the organization attach its audited financial statement to this return? Note: All Form 990 filers that operate one or more hospitals must attach audited financial statements. .....
20b
 
 
21
Did the organization report more than $5,000 of grants and other assistance to governments and organizations in the United States on Part IX, column (A), line 1? If “Yes,” complete Schedule I, Parts I and II.. Click to see attachment
21
Yes
 
22
Did the organization report more than $5,000 of grants and other assistance to individuals in the United States on Part IX, column (A), line 2? If “Yes,” complete Schedule I, Parts I and III..... Click to see attachment
22
Yes
 
23
Did the organization answer “Yes” to Part VII, Section A, questions 3, 4, or 5, about compensation of the organization’s current and former officers, directors, trustees, key employees, and highest compensated employees? If “Yes,” complete Schedule J................ Click to see attachment
23
Yes
 
24a
Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002? If “Yes,” answer questions 24b–24d and complete Schedule K. If “No,” go to line 25................ Click to see attachment
24a
Yes
 
b
Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?...
24b
 
No
c
Did the organization maintain an escrow account other than a refunding escrow at any time during the year
to defease any tax-exempt bonds?......................
24c
 
No
d
Did the organization act as an “on behalf of” issuer for bonds outstanding at any time during the year?...
24d
 
No
25a
Section 501(c)(3) and 501(c)(4) organizations. Did the organization engage in an excess benefit transaction with a disqualified person during the year? If “Yes,” complete Schedule L, Part I...... Click to see attachment
25a
 
No
b
Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization’s prior Forms 990 or 990-EZ? If “Yes,” complete Schedule L, Part I................ Click to see attachment
25b
 
No
26
Was a loan to or by a current or former officer, director, trustee, key employee, highly compensated employee, or disqualified person outstanding as of the end of the organization’s tax year? If “Yes,” complete Schedule L,
Part II........................... Click to see attachment
26
Yes
 
27
Did the organization provide a grant or other assistance to an officer, director, trustee, key employee, substantial contributor, or a grant selection committee member, or to a person related to such an individual? If “Yes,” complete Schedule L, Part III............... Click to see attachment
27
 
No
28
Was the organization a party to a business transaction with one of the following parties? (see Schedule L, Part IV instructions for applicable filing thresholds, conditions, and exceptions):
a
A current or former officer, director, trustee, or key employee? If “Yes,” complete Schedule L, Part IV ......................... Click to see attachment
28a
Yes
 
b
A family member of a current or former officer, director, trustee, or key employee? If “Yes,”
complete Schedule L, Part IV................... Click to see attachment
28b
Yes
 
c
An entity of which a current or former officer, director, trustee, or key employee (or a family member thereof) was an officer, director, trustee, or owner? If “Yes,” complete Schedule L, Part IV.. Click to see attachment
28c
Yes
 
29
Did the organization receive more than $25,000 in non-cash contributions? If “Yes,” complete Schedule MClick to see attachment
29
Yes
 
30
Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions? If “Yes,” complete Schedule M............ Click to see attachment
30
 
No
31
Did the organization liquidate, terminate, or dissolve and cease operations? If “Yes,” complete Schedule N,
Part I........................... Click to see attachment
31
 
No
32
Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets? If “Yes,” complete Schedule N, Part II.......................
32
 
No
33
Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3? If “Yes,” complete Schedule R, Part I........ Click to see attachment
33
Yes
 
34
Was the organization related to any tax-exempt or taxable entity? If “Yes,” complete Schedule R, Parts II, III, IV, and V, line 1..................... Click to see attachment
34
Yes
 
35
Is any related organization a controlled entity within the meaning of section 512(b)(13)? .....
35
Yes
 
a
Did the organization receive any payment from or engage in any transaction with a controlled entity within the meaning of section 512(b)(13)? If “Yes,” complete Schedule R, Part V, line 2... Click to see attachment
36
Section 501(c)(3) organizations. Did the organization make any transfers to an exempt non-charitable related organization? If “Yes,” complete Schedule R, Part V, line 2........... Click to see attachment
36
 
No
37
Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes? If “Yes,” complete Schedule R, Part VIClick to see attachment
37
 
No
38
Did the organization complete Schedule O and provide explanations in Schedule O for Part VI, lines 11 and 19? Note. All Form 990 filers are required to complete Schedule O. ............
38
Yes
 
Form 990 (2010)
Form 990 (2010)
Page 5
Part V
Statements Regarding Other IRS Filings and Tax Compliance
Check if Schedule O contains a response to any question in this Part V . . . . . . . . . .
Yes
No
1a
Enter the number reported in Box 3 of Form 1096. Enter -0- if not applicable. .......
1a
8,730
b
Enter the number of Forms W-2G included in line 1a. Enter -0- if not applicable.
1b
0
c
Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners? ..................
1c
Yes
 
2a
Enter the number of employees reported on Form W-3, Transmittal of Wage and Tax Statements filed for the calendar year ending with or within the year covered by this return .....................
2a
5,479
b
If at least one is reported on line 2a, did the organization file all required federal employment tax returns?

Note. If the sum of lines 1a and 2a is greater than 250, you may be required to e-file. (see instructions)
2b
Yes
 
3a
Did the organization have unrelated business gross income of $1,000 or more during the year?.............................
3a
Yes
 
b
If “Yes,” has it filed a Form 990-T for this year? If “No,” provide an explanation in Schedule O.....
3b
Yes
 
4a
At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account or securities account)?.......................
4a
Yes
 
b
If "Yes," enter the name of the foreign country: MediumBulletUK
See instructions for filing requirements for Form TD F 90-22.1, Report of Foreign Bank and Financial Accounts.
5a
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year?..
5a
 
No
b
Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?
5b
 
No
c
If “Yes” to line 5a or 5b, did the organization file Form 8886-T? ........
5c
 
No
6a
Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible?..........
6a
 
No
b
If “Yes,” did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible?........................
6b
 
No
7
Organizations that may receive deductible contributions under section 170(c).
a
Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor?....................
7a
Yes
 
b
If “Yes,” did the organization notify the donor of the value of the goods or services provided?.....
7b
Yes
 
c
Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282?...........................
7c
Yes
 
d
If “Yes,” indicate the number of Forms 8282 filed during the year ....
7d
2
e
Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?..........................
7e
 
No
f
Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract?..
7f
 
No
g
If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required?...................
7g
 
No
h
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C?...............
7h
Yes
 
8
Sponsoring organizations maintaining donor advised funds and section 509(a)(3) supporting organizations. Did the supporting organization, or a donor advised fund maintained by a sponsoring organization, have excess business holdings at any time during the year?................
8
 
No
9
Sponsoring organizations maintaining donor advised funds.
a
Did the organization make any taxable distributions under section 4966?.........
9a
 
No
b
Did the organization make a distribution to a donor, donor advisor, or related person?......
9b
 
No
10
Section 501(c)(7) organizations. Enter:
a
Initiation fees and capital contributions included on Part VIII, line 12 ...
10a
 
b
Gross receipts, included on Form 990, Part VIII, line 12, for public use of club facilities
10b
 
11
Section 501(c)(12) organizations. Enter:
a
Gross income from members or shareholders .........
11a
 
b
Gross income from other sources (Do not net amounts due or paid to other sources against amounts due or received from them.) ........
11b
 
12a
Section 4947(a)(1) non-exempt charitable trusts. Is the organization filing Form 990 in lieu of Form 1041?
12a
 
No
b
If “Yes,” enter the amount of tax-exempt interest received or accrued during the year.
12b
 
13
Section 501(c)(29) qualified nonprofit health insurance issuers.
a
Is the organization licensed to issue qualified health plans in more than one state?
Note. All 501(c)(29) organizations must list in Schedule O each state in which they are licensed to issue qualified health plans, the amount of reserves required by each state, and the amount of reserves the organization allocated to each state.
13a
 
No
b
Enter the aggregate amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans.
13b
 
c
Enter the aggregate amount of reserves on hand.
13c
 
14a
Did the organization receive any payments for indoor tanning services during the tax year?.....
14a
 
No
b
If "Yes," has it filed a Form 720 to report these payments? If “No,” provide an explanation in Schedule O..
14b
 
No
Form 990 (2010)
Form 990 (2010)
Page 6
Part VI
Governance, Management, and Disclosure For each “Yes” response to lines 2 through 7b below, and for a “No” response to lines 8a, 8b, or 10b below, describe the circumstances, processes, or changes in Schedule O. See instructions.
Check if Schedule O contains a response to any question in this Part VI . . . . . . . . . .
Section A. Governing Body and Management
Yes
No
1a
Enter the number of voting members of the governing body at the end of the tax year ..............
1a
44
b
Enter the number of voting members included in line 1a, above, who are independent .................
1b
41
2
Did any officer, director, trustee, or key employee have a family relationship or a business relationship with any other officer, director, trustee, or key employee? .................
2
 
No
3
Did the organization delegate control over management duties customarily performed by or under the direct supervision of officers, directors or trustees, or key employees to a management company or other person? ..
3
 
No
4
Did the organization make any significant changes to its governing documents since the prior Form 990 was filed?
4
Yes
 
5
Did the organization become aware during the year of a significant diversion of the organization’s assets? .
5
 
No
6
Does the organization have members or stockholders? ................
6
 
No
7a
Does the organization have members, stockholders, or other persons who may elect one or more members of the governing body? .........................
7a
 
No
b
Are any decisions of the governing body subject to approval by members, stockholders, or other persons? ..
7b
 
No
8
Did the organization contemporaneously document the meetings held or written actions undertaken during the year by the following:
a
The governing body? .........................
8a
Yes
 
b
Each committee with authority to act on behalf of the governing body? ............
8b
Yes
 
9
Is there any officer, director, trustee, or key employee listed in Part VII, Section A, who cannot be reached at the organization’s mailing address? If “Yes,” provide the names and addresses in Schedule O .....
9
 
No
Section B. Policies (This Section B requests information about policies not required by the Internal
Revenue Code.)
Yes
No
10a
Does the organization have local chapters, branches, or affiliates? ............
10a
 
No
b
If “Yes,” does the organization have written policies and procedures governing the activities of such chapters, affiliates, and branches to ensure their operations are consistent with those of the organization? ....
10b
 
No
11a
Has the organization provided a copy of this Form 990 to all members of its governing body before filing the form?
11a
Yes
 
b
Describe in Schedule O the process, if any, used by the organization to review the Form 990. .....
12a
Does the organization have a written conflict of interest policy? If “No,” go to line 13.......
12a
Yes
 
b
Are officers, directors or trustees, and key employees required to disclose annually interests that could give rise to conflicts? ...........................
12b
Yes
 
c
Does the organization regularly and consistently monitor and enforce compliance with the policy? If “Yes,” describe in Schedule O how this is done ....................
12c
Yes
 
13
Does the organization have a written whistleblower policy? ...............
13
Yes
 
14
Does the organization have a written document retention and destruction policy? .........
14
Yes
 
15
Did the process for determining compensation of the following persons include a review and approval by independent persons, comparability data, and contemporaneous substantiation of the deliberation and decision?
a
The organization’s CEO, Executive Director, or top management official ...........
15a
Yes
 
b
Other officers or key employees of the organization ................
15b
Yes
 
If "Yes" to line a or b, describe the process in Schedule O. (See instructions.)
16a
Did the organization invest in, contribute assets to, or participate in a joint venture or similar arrangement with a taxable entity during the year? ......................
16a
 
No
b
If “Yes,” has the organization adopted a written policy or procedure requiring the organization to evaluate its participation in joint venture arrangements under applicable federal tax law, and taken steps to safeguard the organization’s exempt status with respect to such arrangements? ............
16b
 
No
Section C. Disclosure
17
List the States with which a copy of this Form 990 is required to be filedMediumBullet
WA , VT , SC , RI , PA , OK , OH , NY , NH , ME , MD , MA , IN , DC , CO , AR , AK
18
Section 6104 requires an organization to make its Form 1023 (or 1024 if applicable), 990, and 990-T (501(c)(3)s only) available for public inspection. Indicate how you make these available. Check all that apply.
19
Describe in Schedule O whether (and if so, how), the organization makes its governing documents, conflict of interest policy, and financial statements available to the public.
20
State the name, physical address, and telephone number of the person who possesses the books and records of the organization: MediumBullet
Brandon E Gilliland
PO BOX 7201
WINSTONSALEM,NC27109
(336) 758-5233
Form 990 (2010)
Form 990 (2010)
Page 7
Part VII
Compensation of Officers, Directors,Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
Check if Schedule O contains a response to any question in this Part VII . . . . . . . . . .
Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees
1a Complete this table for all persons required to be listed. Report compensation for the calendar year ending with or within the organization’s tax year.
RoundBullet List all of the organization’s current officers, directors, trustees (whether individuals or organizations), regardless of amount
of compensation, and current key employees. Enter -0- in columns (D), (E), and (F) if no compensation was paid.

RoundBullet List all of the organization’s current key employees, if any. See instructions for definition of "key employee."
RoundBullet List the organization’s five current highest compensated employees (other than an officer, director, trustee or key employee)
who received reportable compensation (Box 5 of Form W-2 and/or Box 7 of Form 1099-MISC) of more than $100,000 from the
organization and any related organizations.

RoundBullet List all of the organization’s former officers, key employees, or highest compensated employees who received more than $100,000
of reportable compensation from the organization and any related organizations.

RoundBullet List all of the organization’s former directors or trustees that received, in the capacity as a former director or trustee of the
organization, more than $10,000 of reportable compensation from the organization and any related organizations.

List persons in the following order: individual trustees or directors; institutional trustees; officers; key employees; highest
compensated employees; and former such persons.
Check this box if neither the organization nor any related organizations compensated any current or former officer, director, or trustee.
(A)
Name and Title 		(B)
Average hours per week (describe hours for related organizations in Schedule O) 		(C)
Position (check all that apply) 		(D)
Reportable compensation from the organization (W- 2/1099-MISC) 		(E)
Reportable compensation from related organizations (W- 2/1099-MISC) 		(F)
Estimated amount of other compensation from the organization and related organizations
Individual Trustee or Director; Institutional Trustee; Officer; Key Employee; Highest compensated employee; Former;
(1) William C GordonPhD
Former Provost
 40.00           X 205,677 0 41,981
(2) W Louis Bissette Jr
Bd ViceCh/Comm
 4.00 X           0 0 0
(3) Thomas W Bunn
Trustee
 4.00 X           0 0 0
(4) Thomas A Dingledine
Trustee
 3.00 X           0 0 0
(5) Steven S Reinemund
Dean, School of Business
 40.00       X     400,250 0 40,162
(6) Ronald D Wellman
Director of Athletics
 40.00       X     2,397,321 0 45,269
(7) Richard H Moore
Trustee
 5.00 X           0 0 0
(8) Nathan O Hatch PhD
President
 25.00     X       1,342,373 0 116,126
(9) Nancy Suttenfield to 11810
Sr. VP & CFO
 39.00     X       402,704 0 30,763
(10) Mitesh B Shah
Trustee
 3.00 X           0 0 0
(11) Michael G Queen
Committee Chair
 3.00 X           0 0 0
(12) Matthew S Cullinan PhD
VP Admin
 40.00     X       294,826 0 30,871
(13) Matthew A King
Trustee/Comm Ch
 4.00 X           0 0 0
(14) Mark A Petersen
VP-Advancement
 40.00       X     394,620 0 37,598
(15) Louis R Morrell
Former Treasurer
 20.00           X 264,536 0 35,833
(16) Lisbeth C Evans
Trustee/Comm Ch
 4.00 X           0 0 0
(17) Lelia B Farr
Trustee
 3.00 X           0 0 0
Form 990 (2010)
Form 990 (2010)
Page 8
Part VII
Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees (continued)
(A)
Name and Title 		(B)
Average hours per week (describe hours for related organizations in Schedule O) 		(C)
Position (check all that apply) 		(D)
Reportable compensation from the organization (W- 2/1099-MISC) 		(E)
Reportable compensation from related organizations (W- 2/1099-MISC) 		(F)
Estimated amount of other compensation from the organization and related organizations
Individual Trustee or Director; Institutional Trustee; Officer; Key Employee; Highest compensated employee; Former;
(18) L Steven Nelson
Committee Chair
 3.00 X           0 0 0
(19) Kyle A Young MD
Trustee
 4.00 X           0 0 0
(20) Kenneth D Miller
Trustee
 3.00 X           0 0 0
(21) Katherine B Wright
Trustee
 3.00 X           0 0 0
(22) John P Anderson PhD
Former VP Finance/Admin
 40.00           X 139,393 0 29,598
(23) John M McAvoy
Trustee
 3.00 X           0 0 0
(24) John K Medica
Trustee
 3.00 X           0 0 0
(25) John I Bitove Jr
Trustee
 5.00 X           0 0 0
(26) Jocelyn Burton
Trustee/Comm Ch
 3.00 X           0 0 0
(27) Jim B Grobe
Football Coach
 40.00         X   2,214,556 0 40,242
(28) Jill M Tiefenthaler PhD
Provost
 40.00     X       395,756 0 44,858
(29) Jerry H Baker
Trustee
 3.00 X           0 0 0
(30) Jeffrey Bzdelik
Basketball Coach
 40.00         X   936,824 0 27,536
(31) Jeanne Whitman Bobbitt
Trustee
 3.00 X           0 0 0
(32) James W Judson Jr deceased
Trustee
 .10 X           0 0 0
(33) James T Williams Jr
Board Chair
 20.00 X           0 0 0
(34) James R Helvey III
Trustee
 5.00 X           0 0 0
(35) James J Dunn
VP - CIO
 40.00     X       754,574 0 16,311
(36) Jacquelyn S Fetrow PhD
Dean, Wake Forest College
 40.00       X     254,113 0 25,537
(37) J Lanny Wadkins Jr
Trustee
 3.00 X           0 0 0
(38) J Reid Morgan
Secretary
 20.00     X       365,229 0 49,026
(39) Gerald F Roach
Committee Chair
 3.00 X           0 0 0
(40) Frederick W Eubank II
Trustee
 5.00 X           0 0 0
(41) Dr Lloyd P Tate Jr
Trustee
 3.00 X           0 0 0
(42) Donna A Boswell PhD
Trustee
 3.00 X           0 0 0
(43) Donald E Flow
Vice Chair
 3.00 X           0 0 0
(44) Donald D Leonard
Trustee
 3.00 X           0 0 0
(45) Dino J Gaudio
Basketball Coach
 40.00         X   1,146,102 0 12,180
(46) Diana M Adams
Trustee
 5.00 X           0 0 0
(47) Deborah K Rubin
Trustee/Comm Ch
 3.00 X           0 0 0
(48) Deborah D Lambert
Trustee/Comm Ch
 3.00 X           0 0 0
(49) David W Dupree
Trustee
 8.00 X           0 0 0
(50) David I Wahrhaftig
Trustee
 3.00 X           0 0 0
(51) Craig O Thomas
Former Asst Treas
 40.00           X 196,035 0 31,664
(52) Charles Jeffrey Young
Trustee
 3.00 X           0 0 0
(53) Celeste Mason Pittman
Trustee
 3.00 X           0 0 0
(54) Cathy Wall Thomas MD
Trustee/Comm Ch
 3.00 X           0 0 0
(55) Candy M Ergen
Trustee
 3.00 X           0 0 0
(56) Bobby R Burchfield
Trustee/Comm Ch
 3.00 X           0 0 0
(57) Blake D Morant
Dean, Sch of Law
 40.00         X   354,358 0 44,055
(58) Benjamin C Sutton Jr
Trustee
 4.00 X           0 0 0
(59) B Hofler Milamfrm 12610
Sr. VP & CFO
 39.00     X       113,447 0 3,847
(60) Ashley E Gedraitis
Trustee
 3.00 X           0 0 0
(61) Anita M Conrad
Asst Secretary
 20.00     X       147,521 0 29,206
(62) Andrew J Schindler
Trustee
 3.00 X           0 0 0
(63) Alice Kirby Horton
Trustee
 3.00 X           0 0 0
(64) Albert R Hunt
Trustee
 3.00 X           0 0 0
(65) Ajay PatelPhD
Prof, Sch of Busns
 40.00         X   358,158 0 46,615
(66) Adelaide A Sink
Trustee
 3.00 X           0 0 0
1b Sub-Total................MediumBullet
c Total from continuation sheets to Part VII, Section A....MediumBullet
d Total (add lines 1b and 1c)............MediumBullet 13,078,373   779,278
2
Total number of individuals (including but not limited to those listed above) who received more than $100,000 in reportable compensation from the organizationMediumBullet343
Yes
No
3
Did the organization list any former officer, director or trustee, key employee, or highest compensated employee on line 1a? If “Yes,” complete Schedule J for such individual .............
3
Yes
 
4
For any individual listed on line 1a, is the sum of reportable compensation and other compensation from the organization and related organizations greater than $150,000? If “Yes,” complete Schedule J for such individual...........................
4
Yes
 
5
Did any person listed on line 1a receive or accrue compensation from any unrelated organization or individual for services rendered to the organization? If “Yes,” complete Schedule J for such person .....
5
 
No
Section B. Independent Contractors
1
Complete this table for your five highest compensated independent contractors that received more than $100,000 of compensation from the organization.
(A)
Name and business address 		(B)
Description of services 		(C)
Compensation
Landmark Builders of the Triad
3520 Triad Court
WinstonSalem,NC27107 		Construction 4,828,497
John S Clark Company LLC
11 Brookstone Avenue
WinstonSalem,NC27101 		Construction 2,229,194
IL Long Construction CO Inc
4117 Indiana Ave
WinstonSalem,NC27105 		Construction 2,825,816
Frank L Blum Construction Company
830 25th St NE
WinstonSalem,NC27105 		Construction 11,387,168
Aramark Campus Services
1101 Market St 12th Fl
Philadelphia,PA19107 		Food Service 12,305,164
2
Total number of independent contractors (including but not limited to those listed above) who received more than $100,000 in compensation from the organization MediumBullet107
Form 990 (2010)
Form 990 (2010)
Page 9
Part VIII
Statement of Revenue
(A)
Total revenue 		(B)
Related or
exempt
function
revenue 		(C)
Unrelated
business
revenue 		(D)
Revenue
excluded from
tax under sections
512, 513, or 514
Contributions, gifts, grants and other similar amounts 1a Federated campaigns..1a  
b Membership dues....1b  
c Fundraising events....1c 448,044
d Related organizations...1d 60,464
e Government grants (contributions)1e 11,764,747
f All other contributions, gifts, grants, and
similar amounts not included above1f 		106,048,622
g Noncash contributions included in lines 1a-1f:$ 47,763,588
h Total. Add lines 1a-1f.......MediumBullet 118,321,877
Program Service Revenue Business Code
2a Tuition and Fees 611,310 236,972,506 236,972,506    
b Student Housing & Dining 721,310 28,700,407 28,700,407    
c Student Health Services 621,400 2,639,208 2,639,208    
d Organized Activities 515,100 3,635,407 3,087,026   548,381
e Athletic Programs 711,210 20,927,390 19,681,185   1,246,205
f All other program service revenue . 3,145,585 3,145,585    
g Total. Add lines 2a–2f........MediumBullet 296,020,503
Other Revenue 3 Investment income (including dividends, interest
and other similar amounts).....MediumBullet 14,295,548   -2,600,909 16,896,457
4 Income from investment of tax-exempt bond proceeds..MediumBullet 345,732     345,732
5 Royalties............MediumBullet 1,238,176     1,238,176
(i) Real (ii) Personal
6a Gross Rents 7,574,734  
b Less: rental expenses 8,117,278  
c Rental income or (loss) -542,544  
d Net rental income or (loss).......MediumBullet -542,544     -542,544
(i) Securities (ii) Other
7a Gross amount from sales of assets other than inventory 181,566,311  
b Less: cost or other basis and sales expenses 158,047,124 154,053
c Gain or (loss) 23,519,187 -154,053
d Net gain or (loss)..........MediumBullet 23,365,134     23,365,134
8a Gross income from fundraising events (not including
$ 448,044
of contributions reported on line 1c). See Part IV, line 18 ...
a 236,717
b Less: direct expenses ...b 532,207
c Net income or (loss) from fundraising events..MediumBullet -295,490   -295,490
9a Gross income from gaming activities.
See Part IV, line 19 ...
a  
b Less: direct expenses ...b  
c Net income or (loss) from gaming activities...MediumBullet 0      
10a Gross sales of inventory, less
returns and allowances .
a 12,567,540
b Less: cost of goods sold ..b 6,025,172
c Net income or (loss) from sales of inventory..MediumBullet 6,542,368   3,200,626 3,341,742
Miscellaneous Revenue Business Code
11a Tennis Club 713,940 159,142   159,142  
b Athletic Advertising 541,800 33,592   33,592  
c            
d All other revenue ....        
e Total. Add lines 11a–11d ......MediumBullet 192,734
12 Total revenue. See Instructions....MediumBullet 459,484,038 294,225,917 792,451 46,143,793
Form 990 (2010)
Form 990 (2010)
Page 10
Part IX
Statement of Functional Expenses
Section 501(c)(3) and 501(c)(4) organizations must complete all columns. All other organizations must complete column (A) but are not required to complete columns (B), (C), and (D).
Do not include amounts reported on lines 6b,
7b, 8b, 9b, and 10b of Part VIII. 		(A)
Total expenses 		(B)
Program service expenses 		(C)
Management and general expenses 		(D)
Fundraising expenses
1 Grants and other assistance to governments and organizations in the U.S. See Part IV, line 21 1,174,716 1,174,716
2 Grants and other assistance to individuals in the U.S. See Part IV, line 22 73,123,824 73,123,824
3 Grants and other assistance to governments, organizations, and individuals outside the U.S. See Part IV, lines 15 and 16 430,907 430,907
4 Benefits paid to or for members 0  
5 Compensation of current officers, directors, trustees, and key employees .... 6,349,373 1,147,339 3,325,471 1,876,563
6 Compensation not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B) .... 0      
7 Other salaries and wages 146,386,167 121,045,079 17,897,246 7,443,842
8 Pension plan contributions (include section 401(k) and section 403(b) employer contributions) .... 12,329,053 9,826,431 1,738,933 763,689
9 Other employee benefits ....... 15,250,987 11,511,478 2,877,046 862,463
10 Payroll taxes ........... 10,158,258 8,096,988 1,432,262 629,008
11 Fees for services (non-employees):        
a Management ...... 0      
b Legal ......... 660,513 140,576 519,937  
c Accounting ........... 193,490 8,000 185,490  
d Lobbying ........... 0      
e Professional fundraising. See Part IV, line 17.. 1,017,650 1,017,650
f Investment management fees ...... 4,387,944 3,061,562 1,324,342 2,040
g Other .......... 12,318,962 7,332,639 4,718,372 267,951
12 Advertising and promotion .... 5,369,311 4,444,395 -550,682 1,475,598
13 Office expenses ....... 19,804,153 11,163,085 7,270,935 1,370,133
14 Information technology ...... 6,618,923 5,365,613 993,737 259,573
15 Royalties .. 0      
16 Occupancy ........... 11,384,237 8,925,563 2,344,882 113,792
17 Travel ............ 9,706,280 8,801,041 84,842 820,397
18 Payments of travel or entertainment expenses for any federal, state, or local public officials ...... 0      
19 Conferences, conventions, and meetings .... 2,550,028 2,054,221 406,016 89,791
20 Interest ........... 6,922,665 6,868,977 53,688  
21 Payments to affiliates ....... 0      
22 Depreciation, depletion, and amortization ..... 20,186,929 17,160,127 2,987,758 39,044
23 Insurance .............. 1,781,995 783,094 998,277 624
24 Other expenses. Itemize expenses not covered above. (Expenses grouped together and labeled miscellaneous may not exceed 5% of total expenses shown on line 25 below.)
a Non Capital Equip & Furnishing 4,227,383 2,364,649 1,783,498 79,236
b Miscellaneous 190,078 19,281 70,711 100,086
c Library, Books & Subscriptions 6,080,409 5,575,671 449,949 54,789
d Bad debt expense 618,383 520,585 97,798  
e Auxiliary Enterprises 2,429,652 2,428,472 245 935
f All other expenses 0      
25 Total functional expenses. Add lines 1 through 24f 381,652,270 313,374,313 51,010,753 17,267,204
26 Joint costs. Check here MediumBullet if following
SOP 98-2 (ASC 958-720). Complete this line only if the organization reported in column (B) joint costs from a combined educational campaign and fundraising solicitation 		       
Form 990 (2010)
Form 990 (2010)
Page 11
Part X Balance Sheet
(A)
Beginning of year 		(B)
End of year
Assets 1 Cash—non-interest-bearing ..........   1 0
2 Savings and temporary cash investments ....... 170,725,663 2 119,405,446
3 Pledges and grants receivable, net ......... 38,460,180 3 55,418,810
4 Accounts receivable, net ......... 7,118,774 4 9,484,468
5 Receivables from current and former officers, directors, trustees, key employees, and highest compensated employees. Complete Part II of
Schedule L .......... 621,510 5 470,265
6 Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B). Complete Part II of
Schedule L ..........   6 0
7 Notes and loans receivable, net ............. 24,446,271 7 24,415,555
8 Inventories for sale or use .............. 1,761,209 8 1,230,981
9 Prepaid expenses and deferred charges ............ 728,282 9 665,390
10a Land, buildings, and equipment: cost or other basis. Complete Part VI of Schedule D 10a 597,946,453
b Less: accumulated depreciation. ..... 10b 257,960,041 316,528,753 10c 339,986,412
11 Investments—publicly traded securities .......... 147,649,595 11 283,823,960
12 Investments—other securities. See Part IV, line 11 ...... 366,691,090 12 375,303,931
13 Investments—program-related. See Part IV, line 11 ..   13 0
14 Intangible assets .........   14 0
15 Other assets. See Part IV, line 11 ........... 1,672,961 15 2,800,051
16 Total assets. Add lines 1 through 15 (must equal line 34)... 1,076,404,288 16 1,213,005,269
Liabilities 17 Accounts payable and accrued expenses . 24,873,807 17 30,433,698
18 Grants payable .......... 10,249,193 18 10,102,501
19 Deferred revenue .......... 15,981,152 19 15,426,184
20 Tax-exempt bond liabilities .......... 169,720,000 20 165,150,000
21 Escrow or custodial account liability. Complete Part IV of Schedule D..   21 363,399
22 Payables to current and former officers, directors, trustees, key
employees, highest compensated employees, and disqualified
persons. Complete Part II of Schedule L..........   22  
23 Secured mortgages and notes payable to unrelated third parties .. 26,552,608 23 29,445,842
24 Unsecured notes and loans payable to unrelated third parties ....   24  
25 Other liabilities. Complete Part X of Schedule D..... 73,633,403 25 74,525,461
26 Total liabilities. Add lines 17 through 25..... 321,010,163 26 325,447,085
Net Assets or Fund Balance Organizations that follow SFAS 117, check here MediumBullet and complete lines 27 through 29, and lines 33 and 34.
27 Unrestricted net assets ..... 365,366,687 27 433,078,694
28 Temporarily restricted net assets ..... 205,378,451 28 248,915,455
29 Permanently restricted net assets ..... 184,648,987 29 205,564,035
Organizations that do not follow SFAS 117, check here MediumBullet and complete lines 30 through 34.
30 Capital stock or trust principal, or current funds .....   30  
31 Paid-in or capital surplus, or land, building or equipment fund .....   31  
32 Retained earnings, endowment, accumulated income, or other funds   32  
33 Total net assets or fund balances ..... 755,394,125 33 887,558,184
34 Total liabilities and net assets/fund balances ..... 1,076,404,288 34 1,213,005,269
Form 990 (2010)
Form 990 (2010)
Page 12
Part XI
Reconcilliation of Net Assets
Check if Schedule O contains a response to any question in this Part XI . . . . . . . . . .
1
Total revenue (must equal Part VIII, column (A), line 12) . . .
1
459,484,038
2
Total expenses (must equal Part IX, column (A), line 25) . . . . .
2
381,652,270
3
Revenue less expenses. Subtract line 2 from line 1 . . . .
3
77,831,768
4
Net assets or fund balances at beginning of year (must equal Part X, line 33, column (A)) . .
4
755,394,125
5
Other changes in net assets or fund balances (explain in Schedule O) . . . .
5
54,332,291
6
Net assets or fund balances at end of year. Combine lines 3, 4, and 5 (must equal Part X, line 33, column (B)) . . . . . .
6
887,558,184
Part XII
Financial Statements and Reporting
Check if Schedule O contains a response to any question in this Part XII . . . . . . . . . .
Yes
No
1
Accounting method used to prepare the Form 990:  
If the organization changed its method of accounting from a prior year or checked "Other," explain in
Schedule O.
2a
Were the organization’s financial statements compiled or reviewed by an independent accountant?..
2a
 
No
b
Were the organization’s financial statements audited by an independent accountant?........
2b
Yes
 
c
If “Yes,” to 2a or 2b, does the organization have a committee that assumes responsibility for oversight of the audit, review, or compilation of its financial statements and selection of an independent accountant?
If the organization changed either its oversight process or selection process during the tax year, explain in Schedule O............................
2c
Yes
 
d
If “Yes” to line 2a or 2b, check a box below to indicate whether the financial statements for the year were issued on a separate basis, consolidated basis, or both:
3a
As a result of a federal award, was the organization required to undergo an audit or audits as set forth in the Single Audit Act and OMB Circular A-133? ................
3a
Yes
 
b
If “Yes,” did the organization undergo the required audit or audits? If the organization did not undergo the required audit or audits, explain why in Schedule O and describe any steps taken to undergo such audits. ..
3b
Yes
 
Form 990 (2010)
Additional Data


Software ID: 10000105
Software Version: 2010v3.2
Form 990, Special Condition Description:
Special Condition Description
SCHEDULE A
(Form 990 or 990EZ)

Department of the Treasury
Internal Revenue Service
Public Charity Status and Public Support

Complete if the organization is a section 501(c)(3) organization or a section
4947(a)(1) nonexempt charitable trust.
right arrow Attach to Form 990 or Form 990-EZ. right arrow See separate instructions.
OMB No. 1545-0047
2010
Open to Public
Inspection
Name of the organization
WAKE FOREST UNIVERSITY
 
Employer identification number

56-0532138
Part I
Reason for Public Charity Status (All organizations must complete this part.) See instructions
The organization is not a private foundation because it is: (For lines 1 through 11, check only one box.)
1
2
3
4
5
section 170(b)(1)(A)(iv). (Complete Part II.)
6
7
8
9
receipts from activities related to its exempt functions—subject to certain exceptions, and (2) no more than 331/3% of
its support from gross investment income and unrelated business taxable income (less section 511 tax) from businesses
acquired by the organization after June 30, 1975. See section 509(a)(2). (Complete Part III.)
10
11
e
f
g
(i) a person who directly or indirectly controls, either alone or together with persons described in (ii)
Yes
No
and (iii) below, the governing body of the the supported organization? ................
11g(i)
 
 
(ii) a family member of a person described in (i) above? ......................
11g(ii)
 
 
(iii) a 35% controlled entity of a person described in (i) or (ii) above? ................
11g(iii)
 
 
h
(i)
Name of supported organization 		(ii)
EIN 		(iii)
Type of organization (described on lines 1- 9 above or IRC section (see instructions)) 		(iv)
Is the organization in col. (i) listed in your governing document? 		(v)
Did you notify the organization in col. (i) of your support? 		(vi)
Is the organization in col. (i) organized in the U.S.? 		(vii)
Amount of support?
Yes No Yes No Yes No
Total                  

For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 11285F
Schedule A (Form 990 or 990-EZ) 2010
Schedule A (Form 990 or 990-EZ) 2010
Page 2
Part II
Support Schedule for Organizations Described in IRC 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi)
(Complete only if you checked the box on line 5, 7, or 8 of Part I or if the organization failed to qualify under Part III. If the organization fails to qualify under the tests listed below, please complete Part III.)
Section A. Public Support
Calendar year(or fiscal year beginning in) (a) 2006 (b) 2007 (c) 2008 (d) 2009 (e) 2010 (f) Total
1 Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grants.") ....            
2 Tax revenues levied for the organization's benefit and either paid to or expended on its behalf.......            
3 The value of services or facilities furnished by a governmental unit to the organization without charge..            
4 Total. Add lines 1 through 3..            
5 The portion of total contributions by each person (other than a governmental unit or publicly supported organization) included on line 1 that exceeds 2% of the amount shown on line 11, column (f)..            
6 Public Support. Subtract line 5 from line 4.            
Section B. Total Support
Calendar year(or fiscal year beginning in) (a) 2006 (b) 2007 (c) 2008 (d) 2009 (e) 2010 (f) Total
7 Amounts from line 4..            
8 Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources..            
9 Net income from unrelated business activities, whether or not the business is regularly carried on..            
10 Other income. (Explain in Part IV.) Do not include gain or loss from the sale of capital assets..            
11 Total support (Add lines 7 through 10).            
12
12
 
13
Section C. Computation of Public Support Percentage
14
14
 
15
15
 
16a
b
17a
b
18
Schedule A (Form 990 or 990-EZ) 2010
Schedule A (Form 990 or 990-EZ) 2010
Page 3
Part III
Support Schedule for Organizations Described in IRC 509(a)(2)
(Complete only if you checked the box on line 9 of Part I or if the organization failed to qualify under Part II. If the organization fails to qualify under the tests listed below, please complete Part II.)
Section A. Public Support
Calendar year(or fiscal year beginning in) (a) 2006 (b) 2007 (c) 2008 (d) 2009 (e) 2010 (f) Total
1 Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grants.") .            
2 Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose......            
3 Gross receipts from activities that are not an unrelated trade or business under section 513..            
4 Tax revenues levied for the organization's benefit and either paid to or expended on its behalf...            
5 The value of services or facilities furnished by a governmental unit to the organization without charge..            
6 Total. Add lines 1 through 5.            
7a Amounts included on lines 1, 2, and 3 received from disqualified persons...            
b Amounts included on lines 2 and 3 received from other than disqualified persons that exceed the greater of $5,000 or 1% of the amount on line 13 for the year.            
c Add lines 7a and 7b..            
8 Public Support (Subtract line 7c from line 6.)            
Section B. Total Support
Calendar year (or fiscal year beginning in) (a) 2006 (b) 2007 (c) 2008 (d) 2009 (e) 2010 (f) Total
9 Amounts from line 6...            
10a Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources..            
b Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975.            
c Add lines 10a and 10b.            
11 Net income from unrelated business activities not included in line 10b, whether or not the business is regularly carried on.            
12 Other income. Do not include gain or loss from the sale of capital assets (Explain in Part IV.)            
13 Total support (Add lines 9, 10c, 11 and 12.).            
14
Section C. Computation of Public Support Percentage
15
15
 
16
16
 
Section D. Computation of Investment Income Percentage
17
17
 
18
18
 
19a
b
20
Schedule A (Form 990 or 990-EZ) 2010
Schedule A (Form 990 or 990-EZ) 2010
Page 4
Part IV
Supplemental Information. Supplemental Information. Complete this part to provide the explanation required by Part II, line 10; Part II, line 17a or 17b; or Part III, line 12. Also complete this part for any additional information. (See instructions).
Facts And Circumstances Test
 
Explanation
 
 
 
 
Schedule A (Form 990 or 990-EZ) 2010

Additional Data


Software ID: 10000105
Software Version: 2010v3.2
Schedule B
(Form 990, 990-EZ,
or 990-PF)
Department of the Treasury
Internal Revenue Service
Schedule of Contributors
Arrow Bullet Attach to Form 990, 990-EZ, or 990-PF.
OMB No. 1545-0047
2010
Name of organization
WAKE FOREST UNIVERSITY
 
Employer identification number

56-0532138
Organization type (check one):
Filers of:
Section:
Form 990 or 990-EZ





Form 990-PF




Check if your organization is covered by the General Rule or a Special Rule.  
Note. Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
General Rule—
Special Rules
......................... Arrow Bullet   $    
Caution. An Organization that is not covered by the General Rule and/or the Special Rules does not file Schedule B (Form 990,
990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2 of its Form 990, or check the box in the heading of its
Form 990-EZ, or on line 2 of its Form 990-PF, to certify that it does not meet the filing requirements of Schedule B (Form 990,
990-EZ, or 990-PF).
For Paperwork Reduction Act Notice, see the Instructions
for Form 990, 990-EZ, or 990-PF.
Cat. No. 30613XSchedule B (Form 990, 990-EZ, or 990-PF) (2010)

Schedule B (Form 990, 990-EZ, or 990-PF) (2010)
Page 1 of 1 of Part I
Name of organization
WAKE FOREST UNIVERSITY
  		Employer identification number

56-0532138
Part I
Contributors (see Instructions)
     
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Aggregate contributions		 (d)
Type of contribution
RESTRICTED
RESTRICTED
 

     
RESTRICTED
RESTRICTED  
RESTRICTED, RESTRICTED   RESTRICTED

$RESTRICTED




(Complete Part II if there is
a noncash contribution.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Aggregate contributions		 (d)
Type of contribution
 
 
 

     
 
   

$  




(Complete Part II if there is
a noncash contribution.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Aggregate contributions		 (d)
Type of contribution
 
 
 

     
 
   

$  




(Complete Part II if there is
a noncash contribution.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Aggregate contributions		 (d)
Type of contribution
 
 
 

     
 
   

$  




(Complete Part II if there is
a noncash contribution.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Aggregate contributions		 (d)
Type of contribution
 
 
 

     
 
   

$  




(Complete Part II if there is
a noncash contribution.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Aggregate contributions		 (d)
Type of contribution
 
 
 

     
 
   

$  




(Complete Part II if there is
a noncash contribution.)
Schedule B (Form 990, 990-EZ, or 990-PF) (2010)

Schedule B (Form 990, 990-EZ, or 990-PF) (2010)
Page 1 of 1 of Part II
Name of organization
WAKE FOREST UNIVERSITY
  		Employer identification number

56-0532138
Part II
Noncash Property (see Instructions)
     
(a) No.
from
Part I		 (b)
Description of noncash property given		 (c)
FMV (or estimate)
(see instructions) 		(d)
Date received
 
$    
(a) No.
from
Part I		 (b)
Description of noncash property given		 (c)
FMV (or estimate)
(see instructions) 		(d)
Date received
 
$    
(a) No.
from
Part I		 (b)
Description of noncash property given		 (c)
FMV (or estimate)
(see instructions) 		(d)
Date received
 
$    
(a) No.
from
Part I		 (b)
Description of noncash property given		 (c)
FMV (or estimate)
(see instructions) 		(d)
Date received
 
$    
(a) No.
from
Part I		 (b)
Description of noncash property given		 (c)
FMV (or estimate)
(see instructions) 		(d)
Date received
 
$    
(a) No.
from
Part I		 (b)
Description of noncash property given		 (c)
FMV (or estimate)
(see instructions) 		(d)
Date received
 
$    
Schedule B (Form 990, 990-EZ, or 990-PF) (2010)

Schedule B (Form 990, 990-EZ, or 990-PF) (2010)
Page 1 of 1 of Part III
Name of organization
WAKE FOREST UNIVERSITY
  		Employer identification number

56-0532138
Part III
Exclusively religious, charitable, etc., individual contributions to section 501(c)(7), (8), or (10) organizations
aggregating more than $1,000 for the year. (Complete columns (a) through (e) and the following line entry.)
For organizations completing Part III, enter the total of exclusively religious, charitable, etc.,
contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet $  
(a) No.
from
Part I		 (b)
Purpose of gift		 (c)
Use of gift		 (d)
Description of how gift is held
 
(e)
Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
       
 
(a) No.
from
Part I		 (b)
Purpose of gift		 (c)
Use of gift		 (d)
Description of how gift is held
 
(e)
Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
       
 
(a) No.
from
Part I		 (b)
Purpose of gift		 (c)
Use of gift		 (d)
Description of how gift is held
 
(e)
Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
       
 
(a) No.
from
Part I		 (b)
Purpose of gift		 (c)
Use of gift		 (d)
Description of how gift is held
 
(e)
Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
       
 
Schedule B (Form 990, 990-EZ, or 990-PF) (2010)

Additional Data


Software ID: 10000105
Software Version: 2010v3.2
SCHEDULE C
(Form 990 or 990-EZ)

Department of the Treasury
Internal Revenue Service
Political Campaign and Lobbying Activities

For Organizations Exempt From Income Tax Under section 501(c) and section 527
SchCMd Bullet Complete if the organization is described below.
SchCMd Bullet Attach to Form 990 or Form 990-EZ. SchCMd Bullet See separate instructions.
OMB No. 1545-0047
2010
Open to Public
Inspection
If the organization answered “Yes,” to Form 990, Part IV, Line 3, or Form 990-EZ, Part V, line 46 (Political Campaign Activities), then
Round Bullet Section 501(c)(3) organizations: Complete Parts I-A and B. Do not complete Part I-C.
Round Bullet Section 501(c) (other than section 501(c)(3)) organizations: Complete Parts I-A and C below. Do not complete Part I-B.
Round Bullet Section 527 organizations: Complete Part I-A only.
If the organization answered “Yes,” to Form 990, Part IV, Line 4, or Form 990-EZ, Part VI, line 47 (Lobbying Activities), then
Round Bullet Section 501(c)(3) organizations that have filed Form 5768 (election under section 501(h)) Complete Part II-A. Do not complete Part II-B.
Round Bullet Section 501(c)(3) organizations that have NOT filed Form 5768 (election under section 501(h)): Complete Part II-B. Do not complete Part II-A.
If the organization answered “Yes,” to Form 990, Part IV, Line 5 (Proxy Tax) or Form 990-EZ, Part V, line 35a (Proxy Tax), then
Round Bullet Section 501(c)(4), (5), or (6) organizations: Complete Part III.
Name of the organization
WAKE FOREST UNIVERSITY
 
Employer identification number

56-0532138
Part I-A
Complete if the organization is exempt under section 501(c) or is a section 527 organization.

1
Provide a description of the organization's direct and indirect political campaign activities on behalf of or in opposition to candidates for public office in Part IV.
2
Political expenditures ....................................SchCMd Bullet
$  
3
Volunteer hours ........................................
 

Part I-B
Complete if the organization is exempt under section 501(c)(3).
1
Enter the amount of any excise tax incurred by the organization under section 4955 .........SchCMd Bullet
$  
2
Enter the amount of any excise tax incurred by organization managers under section 4955 ......SchCMd Bullet
$  
3
If the organization incurred a section 4955 tax, did it file Form 4720 for this year? ..............
4a
Was a correction made? .........................................
b
If "Yes," describe in Part IV.
Part I-C
Complete if the organization is exempt under section 501(c) except section 501(c)(3).
1
Enter the amount directly expended by the filing organization for section 527 exempt function activities SchCMd Bullet
$  
2
Enter the amount of the filing organization's funds contributed to other organizations for section 527 exempt funtion activities ....................................SchCMd Bullet

$  
3
Total exempt function expenditures. Add lines 1 and 2. Enter here and on Form 1120-POL, line 17b..SchCMd Bullet

$  
4
Did the filing organization file Form 1120-POL for this year? ..........................
5
Enter the names, addresses and employer identification number (EIN) of all section 527 political organizations to which the filing
organization made payments. For each organization listed, enter the amount paid from the filing organization’s funds. Also enter the amount of political contributions received that were promptly and directly delivered to a separate political organization, such as a separate segregated fund or a political action committee (PAC). If additional space is needed, provide information in Part IV.
(a) Name (b) Address (c) EIN (d) Amount paid from filing organization's funds. If none, enter -0-. (e) Amount of political contributions received and promptly and directly delivered to a separate political organization. If none, enter -0-.










For Privacy Act and Paperwork Reduction Act Notice, see the instructions for Form 990.
Cat. No. 50084S
Schedule C (Form 990 or 990-EZ) 2010

Schedule C (Form 990 or 990-EZ) 2010
Page 2
Part II-A
Complete if the organization is exempt under section 501(c)(3) and filed Form 5768 (election under section 501(h)).
A Check
B Check
Limits on Lobbying Expenditures
(The term "expenditures" means amounts paid or incurred.) 		(a) Filing
Organization's
Totals 		(b) Affiliated Group
Totals
1a Total lobbying expenditures to influence public opinion (grass roots lobbying) ......    
b Total lobbying expenditures to influence a legislative body (direct lobbying) .......    
c Total lobbying expenditures (add lines 1a and 1b) ...................    
d Other exempt purpose expenditures ........................    
e Total exempt purpose expenditures (add lines 1c and 1d) ...............    
f Lobbying nontaxable amount. Enter the amount from the following table in both
columns.		    
  If the amount on line 1e, column (a) or (b) is:The lobbying nontaxable amount is:    
  Not over $500,00020% of the amount on line 1e.    
  Over $500,000 but not over $1,000,000$100,000 plus 15% of the excess over $500,000.    
  Over $1,000,000 but not over $1,500,000$175,000 plus 10% of the excess over $1,000,000.    
  Over $1,500,000 but not over $17,000,000$225,000 plus 5% of the excess over $1,500,000.    
  Over $17,000,000$1,000,000.    
       
g Grassroots nontaxable amount (enter 25% of line 1f) .................    
h Subtract line 1g from line 1a. If zero or less, enter -0-. ................    
i Subtract line 1f from line 1c. If zero or less, enter -0-. ................    
j If there is an amount other than zero on either line 1h or line 1i, did the organization file Form 4720 reporting
section 4911 tax for this year? ......................................

4-Year Averaging Period Under Section 501(h)
(Some organizations that made a section 501(h) election do not have to complete all of the five
columns below. See the instructions for lines 2a through 2f on page 4.)
Lobbying Expenditures During 4-Year Averaging Period
  Calendar year (or fiscal year
beginning in) 		(a) 2007 (b) 2008 (c) 2009 (d) 2010 (e) Total
             
2a Lobbying non-taxable amount          
             
b Lobbying ceiling amount
(150% of line 2a, column(e)) 		         
             
c Total lobbying expenditures          
             
d Grassroots non-taxable amount          
             
e Grassroots ceiling amount
(150% of line 2d, column (e))		          
             
f Grassroots lobbying expenditures          
Schedule C (Form 990 or 990-EZ) 2010


Schedule C (Form 990 or 990-EZ) 2010
Page 3
Part II-B
Complete if the organization is exempt under section 501(c)(3) and has NOT filed Form 5768 (election under section 501(h)).
(a)
Yes
No
(b)
Amount
1
During the year, did the filing organization attempt to influence foreign, national, state or local legislation, including any attempt to influence public opinion on a legislative matter or referendum, through the use of:
a
Volunteers? .........................................
 
No
b
Paid staff or management (include compensation in expenses reported on lines 1c through 1i)? ....
 
No
c
Media advertisements? ....................................
 
No
 
d
Mailings to members, legislators, or the public? .........................
 
No
 
e
Publications, or published or broadcast statements? .......................
 
No
 
f
Grants to other organizations for lobbying purposes? .......................
 
No
 
g
Direct contact with legislators, their staffs, government officials, or a legislative body? ........
Yes
 
 
h
Rallies, demonstrations, seminars, conventions, speeches, lectures, or any similar means? ......
 
No
 
i
Other activities? If "Yes," describe in Part IV ..........................
 
No
 
j
Total. lines 1c through 1i ...................................
 
2a
Did the activities in line 1 cause the organization to be not described in section 501(c)(3)? .....
 
No
b
If "Yes," enter the amount of any tax incurred under section 4912 .................
 
c
If "Yes," enter the amount of any tax incurred by organization managers under section 4912 .....
 
d
If the filing organization incurred a section 4912 tax, did it file Form 4720 for this year? .......
 
No
Part III-A
Complete if the organization is exempt under section 501(c)(4), section 501(c)(5), or section 501(c)(6).
Yes
No
1
Were substantially all (90% or more) dues received nondeductible by members? ................
1
 
 
2
Did the organization make only in-house lobbying expenditures of $2,000 or less? ................
2
 
 
3
Did the organization agree to carryover lobbying and political expenditures from the prior year? ..........
3
 
 
Part III-B
Complete if the organization is exempt under section 501(c)(4), section 501(c)(5), or section 501(c)(6) if BOTH Part III-A, lines 1 and 2 are answered “No” OR if Part III-A, line 3 is answered “Yes”.
1
Dues, assessments and similar amounts from members .....................
1
 
2
Section 162(e) non-deductible lobbying and political expenditures (do not include amounts of political
expenses for which the section 527(f) tax was paid).
a
Current year .........................................
2a
 
b
Carryover from last year ....................................
2b
 
c
Total ...........................................
2c
 
3
Aggregate amount reported in section 6033(e)(1)(A) notices of nondeductible section 162(e) dues .
3
 
4
If notices were sent and the amount on line 2c exceeds the amount on line 3, what portion of the excess does the organization agree to carryover to the reasonable estimate of nondeductible lobbying and political expenditure next year? ................................
4
 
5
Taxable amount of lobbying and political expenditures (see instructions) ..............
5
 
Part IV
Supplemental Information
Complete this part to provide the descriptions required for Part l-A, line 1; Part l-B, line 4; Part l-C, line 5; and Part ll-B, line 1i.
Also, complete this part for any additional information.
Identifier Return Reference Explanation
Part II-B, Line 1i Part II-B, Line 1i - Other Activities Description The organization's medical school subsidiary organization has a Government Relations office which makes contacts; working in coordination with that government relations office, the organization's employees will sometimes make direct contacts with legislators, their staffs, government officials, or a legislative body. The Government Relations office was actively involved with several federal and state issues during the year.
Schedule C (Form 990 or 990EZ) 2010

Additional Data


Software ID: 10000105
Software Version: 2010v3.2

SCHEDULE D
(Form 990)
Department of the Treasury
Internal Revenue Service
Supplemental Financial Statements
SchDMd Bullet Complete if the organization answered "Yes," to Form 990,
Part IV, line 6, 7, 8, 9, 10, 11, or 12.
SchDMd Bullet Attach to Form 990. SchDMd Bullet See separate instructions.
OMB No. 1545-0047
2010
Open to Public Inspection
Name of the organization
WAKE FOREST UNIVERSITY
 
Employer identification number

56-0532138
Part I
Organizations Maintaining Donor Advised Funds or Other Similar Funds or Accounts. Complete if the organization answered "Yes" to Form 990, Part IV, line 6.
(a) Donor advised funds (b) Funds and other accounts
1 Total number at end of year .......   1
2 Aggregate contributions to (during year) ...   73,572
3 Aggregate grants from (during year) ...   150,000
4 Aggregate value at end of year .......   149,610
5
Did the organization inform all donors and donor advisors in writing that the assets held in donor advised
funds are the organization's property, subject to the organization's exclusive legal control? ............
6
Did the organization inform all grantees, donors, and donor advisors in writing that grant funds may be
used only for charitable purposes and not for the benefit of the donor or donor advisor, or for any other purpose conferring impermissible private benefit. ...................................
Part II
Conservation Easements. Complete if the organization answered "Yes" to Form 990, Part IV, line 7.
1
Purpose(s) of conservation easements held by the organization (check all that apply).
2
Complete lines 2a–2d if the organization held a qualified conservation contribution in the form of a conservation easement on the last day of the tax year.
Held at the End of the Year
a Total number of conservation easements ....................... 2a  
b Total acreage restricted by conservation easements .................. 2b  
c Number of conservation easements on a certified historic structure included in (a) ..... 2c  
d Number of conservation easements included in (c) acquired after 8/17/06 ........ 2d  
3
Number of conservation easements modified, transferred, released, extinguished, or terminated by the organization during
the taxable year SchDMd Bullet  
4
Number of states where property subject to conservation easement is located SchDMd Bullet  
5
Does the organization have a written policy regarding the periodic monitoring, inspection, handling of violations, and
enforcement of the conservation easements it holds? .............................
6
Staff and volunteer hours devoted to monitoring, inspecting and enforcing conservation easements during the year SchDMd Bullet  
7
Amount of expenses incurred in monitoring, inspecting, and enforcing conservation easements during the year SchDMd Bullet $  
8
Does each conservation easement reported on line 2(d) above satisfy the requirements of section
170(h)(4)(B)(i) and 170(h)(4)(B)(ii)? ....................................
9
In Part XIV, describe how the organization reports conservation easements in its revenue and expense statement, and
balance sheet, and include, if applicable, the text of the footnote to the organization’s financial statements that describes
the organization’s accounting for conservation easements.
Part III
Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets.
Complete if the organization answered "Yes" to Form 990, Part IV, line 8.
1a
If the organization elected, as permitted under SFAS 116, not to report in its revenue statement and balance sheet works of
art, historical treasures, or other similar assets held for public exhibition, education or research in furtherance of public service,
provide, in Part XIV, the text of the footnote to its financial statements that describes these items.
b
If the organization elected, as permitted under SFAS 116, to report in its revenue statement and balance sheet works of art,
historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service,
provide the following amounts relating to these items:
(i)
Revenues included in Form 990, Part VIII, line 1 ........................SchDMd Bullet $  
(ii)
Assets included in Form 990, Part X ..............................SchDMd Bullet $  
2
If the organization received or held works of art, historical treasures, or other similar assets for financial gain, provide the
following amounts required to be reported under SFAS 116 relating to these items:
a
Revenues included in Form 990, Part VIII, line 1 ..........................SchDMd Bullet $  
b
Assets included in Form 990, Part X ...............................SchDMd Bullet $  
For Privacy Act and Paperwork Reduction Act Notice, see the Intructions for Form 990
Cat. No. 52283D
Schedule D (Form 990) 2010

Schedule D (Form 990) 2010
Page 2
Part III
Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets (continued)
3
Using the organization’s accession and other records, check any of the following that are a significant use of its collection
items (check all that apply):
a
d
b
e
 
c
4
Provide a description of the organization’s collections and explain how they further the organization’s exempt purpose in
Part XIV.
5
During the year, did the organization solicit or receive donations of art, historical treasures or other similar
assets to be sold to raise funds rather than to be maintained as part of the organization’s collection?........
Part IV
Escrow and Custodial Arrangements. Complete if the organization answered "Yes" to Form 990,
Part IV, line 9, or reported an amount on Form 990, Part X, line 21.
1a
Is the organization an agent, trustee, custodian or other intermediary for contributions or other assets not
included on Form 990, Part X? ....................................
b
If "Yes," explain the arrangement in Part XIV and complete the following table:
Amount
c Beginning balance ................................. 1c 403,661,131
d Additions during the year .............................. 1d 102,048,699
e Distributions during the year ............................. 1e 25,502,664
f Ending balance ................................... 1f 480,207,166
2a
Did the organization include an amount on Form 990, Part X, line 21? .....................
b
If “Yes,” explain the arrangement in Part XIV.
Part V
Endowment Funds. Complete if the organization answered "Yes" to Form 990, Part IV, line 10.
(a)Current Year (b)Prior Year (c)Two Years Back (d)Three Years Back (e)Four Years Back
1a Beginning of year balance .... 531,560,575 504,636,725 643,133,092
b Contributions ........ 37,795,637 4,856,562 18,055,306
c Investment earnings or losses ... 70,599,050 53,342,647 -125,720,361
d Grants or scholarships ..... 10,874,429 17,524,560 11,066,538
e Other expenditures for facilities
and programs ........ 		17,390,859 11,167,739 18,055,931
f Administrative expenses .... 2,372,676 2,583,060 1,708,843
g End of year balance ...... 609,317,298 531,560,575 504,636,725
2
Provide the estimated percentage of the year end balance held as:
a
Board designated or quasi-endowment: SchDMd Bullet39.000 %
b
Permanent endowment: SchDMd Bullet30.000 %
c
Term endowment: SchDMd Bullet31.000 %
3a
Are there endowment funds not in the possession of the organization that are held and administered for the
organization by:

Yes
No
(i) unrelated organizations ........................
3a(i)
 
No
(ii) related organizations ........................
3a(ii)
 
No
b
If "Yes" to 3a(ii), are the related organizations listed as required on Schedule R? .........
3b
 
No
4
Describe in Part XIV the intended uses of the organization's endowment funds.
Part VI
Investments—Land, Buildings, and Equipment. See Form 990, Part X, line 10.
Description of investment (a) Cost or other basis (investment) (b)Cost or other basis (other) (c) Accumulated depreciation (d) Book value
1a Land ................. 265,501 13,379,781 13,645,282
b Buildings ................ 50,390,583 303,571,061 119,154,469 234,807,175
c Leasehold improvements ............   129,049,190 85,060,475 43,988,715
d Equipment ................   62,405,487 52,532,677 9,872,810
e Other .................   38,884,850 1,212,420 37,672,430
Total. Add lines 1a-1e. (Column (d) should equal Form 990, Part X, column (B), line 10(c).)........SchDMdBullet 339,986,412
Schedule D (Form 990) 2010

Schedule D (Form 990) 2010
Page 3
Part VII
Investments—Other Securities. See Form 990, Part X, line 12.
(a) Description of security or category
(including name of security)		 (b)Book value (c) Method of valuation:
Cost or end-of-year market value
(1)Financial derivatives    
(2)Closely-held equity interests    
Other








Total. (Column (b) should equal Form 990, Part X, col.(B) line 12.)Small Bullet 375,303,931
Part VIII
Investments—Program Related. See Form 990, Part X, line 13.
(a) Description of investment type (b) Book value (c) Method of valuation:
Cost or end-of-year market value








Total. (Column (b) should equal Form 990, Part X, col.(B) line 13.)Small Bullet  
Part IX
Other Assets. See Form 990, Part X, line 15.
(a) Description (b) Book value








Total. (Column (b) should equal Form 990, Part X, col.(B) line 15.)...........Small Bullet  
Part X
Other Liabilities. See Form 990, Part X, line 25.
1.(a) Description of Liability (b) Amount
Federal Income Taxes  
Postretirement benefits 13,331,648
Other liabilities and deferral 37,443,514
Due from WFU Affiliate - Health Sciences -357,969
Bond premium 2,438,044
Annuities payable 21,670,224




Total. (Column (b) should equal Form 990, Part X, col.(B) line 25.)Small Bullet 74,525,461
2. Fin 48 (ASC 740) Footnote. In Part XIV, provide the text of the footnote to the organization's financial statements that reports the organization's liability for uncertain tax positions under FIN 48 (ASC740).
Schedule D (Form 990) 2010

Schedule D (Form 990) 2010
Page 4
Part XI Reconciliation of Change in Net Assets from Form 990 to Financial Statements
1 Total revenue (Form 990, Part VIII, column (A), line 12) .................... 1 459,484,038
2 Total expenses (Form 990, Part IX, column (A), line 25) ..................... 2 381,652,270
3 Excess or (deficit) for the year. Subtract line 2 from line 1 ............. 3 77,831,768
4 Net unrealized gains (losses) on investments .......................... 4 52,334,106
5 Donated services and use of facilities ............................. 5  
6 Investment expenses ................................... 6  
7 Prior period adjustments .................................. 7  
8 Other (Describe in Part XIV) ................................. 8 1,998,185
9 Total adjustments (net). Add lines 4 - 8 ............................. 9 54,332,291
10 Excess or (deficit) for the year per financial statements. Combine lines 3 and 9 ......... 10 132,164,059
Part XII Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
1 Total revenue, gains, and other support per audited financial statements ....... 1 442,396,758
2 Amounts included on line 1 but not on Form 990, Part VIII, line 12:
a Net unrealized gains on investments .......... 2a 52,334,106
b Donated services and use of facilities ......... 2b  
c Recoveries of prior year grants ........... 2c  
d Other (Describe in Part XIV): ............ 2d 14,674,657
e Add lines 2a through 2d ..................... 2e 67,008,763
3 Subtract line 2e from line 1..................... 3 375,387,995
4 Amounts included on Form 990, Part VIII, line 12, but not on line 1:
a Investment expenses not included on Form 990, Part VIII, line 7b . 4a 4,399,974
b Other (Describe in Part XIV): ........... 4b 79,696,069
c Add lines 4a and 4b....................... 4c 84,096,043
5 Total Revenue. Add lines 3 and 4c. (This should equal Form 990, Part I, line 12.) ...... 5 459,484,038
Part XIII Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
1 Total expenses and losses per audited financial statements ............. 1 310,232,699
2 Amounts included on line 1 but not on Form 990, Part IX, line 25:
a Donated services and use of facilities .......... 2a  
b Prior year adjustments .............. 2b  
c Other losses ................ 2c  
d Other (Describe in Part XIV): ............ 2d 14,674,657
e Add lines 2a through 2d...................... 2e 14,674,657
3 Subtract line 2e from line 1..................... 3 295,558,042
4 Amounts included on Form 990, Part IX, line 25, but not on line 1:
a Investment expenses not included on Form 990, Part VIII, line 7b .. 4a 4,399,974
b Other (Describe in Part XIV): ............ 4b 81,694,254
c Add lines 4a and 4b....................... 4c 86,094,228
5 Total expenses. Add lines 3 and 4c. (This should equal Form 990, Part I, line 18.) ...... 5 381,652,270
Part XIV
Supplemental Information
Complete this part to provide the descriptions required for Part II, lines 3, 5, and 9; Part III, lines 1a and 4; Part lV, lines 1b and 2b;
Part V, line 4; Part X; Part XI, line 8; Part XII, lines 2d and 4b; and Part XIII, lines 2d and 4b. Also complete this part to provide any additional information.
Identifier Return Reference Explanation
Part X Part X : FIN48 Footnote Wake Forest University is a tax-exempt organization as described in Section 501(c)(3) of the Internal Revenue Code and is generally exempt from federal income taxes on related income pursuant to Section 501(a) of the Code. Accordingly, no provision for income taxes is made in the consolidated financial statements. Unrelated business income of the University is reported on Form 990-T. The University recognizes the effect of income tax positions only if those positions are more likely than not of being sustained.
Part XIII, Line 4b Part XIII, Line 4b: Other revenue amounts included on 990 but not included in F/S Tuition scholarship discounts $68620018 Transactons with related parties $2269207 Pledge allowance adjustment $4103622 Actuarial obligation adjustment $263525 Internal department allocations $6437882
Part XIII, Line 2d Part XIII, Line 2d: Other expenses and losses per audited F/S Rental expenses $8117278 Cost of Goods Sold $6025172 Fundraising event expenses $532207 Subsidiaries filing separate 990s $0
Part XII, Line 4b Part XII, Line 4b: Other revenue amounts included on 990 but not included in F/S Tuition scholarship discounts $68620018 Receipts from supporting org, WFUDF $60464 Internal revenue allocations $0 Pledge allowance adjustment $4103622 Actuarial obligation adjustment $474083 Internal department allocations $6437882
Part XII, Line 2d Part XII, Line 2d: Other revenue amounts included in F/S but not included on form 990 Rental Expenses $8117278 Cost of Goods Sold $6025172 Fundraising event expenses $532207 Subsidiaries filing separate 990s $0
Part XI, Line 8 Part XI, Line 8: Other Changes in Net Assets or Fund Balances Income of subsidiaries filing separate 990's $2058649 Transfers from supp org, WFUDF $ -60464
Part V, Line 4 Part V, Line 4: Intended uses of the endowment fund. Approximately 40% of the expendable endowment funds provided scholarships for Wake Forest University students during the fiscal year. 22% was distributed for department chair and faculty positions, including funds for research professorships. 12% supported educational programs generally, the libraries and general university operations. 26% provided support for other specific university needs. Due to the fluctuations of university and student needs, these percentages may change from year to year. Only a portion of the Endowment is Restricted to a single use.
Part IV, Line 2b Part IV, Line 2b: Explanation of escrow account liability Agency accounts are held to provide supervision and banking ability for small student clubs and organizations that are formed by the current student body and may or may not last past the graduation of the members. The University fosters the students' desire to form associations that can function as a social unit on campus.
Part IV, Line 1b Part IV, Line 1b: Why is organization an agent, trustee, custodian or other intermediary for contrib The organization's investment office manages the endowment pool for both the organization and several related organizations identified in Schedule R. Such investments are not included on the organization's balance sheet, but are contained in the consolidated financial statements.
Part III, Line 4 Part III, Line 4: Description of organization's collections and how it furthers its purpose. The organization has collections of art, rare books, and artifacts within its facilities. These collections enhance the education of its students and provide research materials for its faculty. Artwork is displayed in many buildings on the organization's campus, accessible to students, employees, and visitors.
Part III, Line 1a Part III, Line 1a: If organization elected under SFAS 116 to not report are, historical treasures, o The Consolidated Financial Statements do not contain a footnote regarding the University's art or museum collections. The value of the collections is approximately $6.3 million.
Schedule D (Form 990) 2010

Additional Data


Software ID: 10000105
Software Version: 2010v3.2




SCHEDULE E(Form 990 or 990-EZ)
Department of the TreasuryInternal Revenue Service
Schools
Right pointing arrow large imageComplete if the organization answered "Yes" to Form 990, Part IV, line 13,
or Form 990-EZ, Part VI, line 48.
Right pointing arrow large image Attach to Form 990 or Form 990-EZ.
OMB No. 1545-0047
2010
Open to Public Inspection
Name of the organization
WAKE FOREST UNIVERSITY
 
Employer identification number

56-0532138
Part I
YES
NO
1
Does the organization have a racially nondiscriminatory policy toward students by statement in its charter, bylaws,
other governing instrument, or in a resolution of its governing body? ......................
1
Yes
 
2
Does the organization include a statement of its racially nondiscriminatory policy toward students in all its
brochures, catalogues, and other written communications with the public dealing with student admissions,
programs, and scholarships? ......................................
2
Yes
 
3
Has the organization publicized its racially nondiscriminatory policy through newspaper or broadcast media during
the period of solicitation for students, or during the registration period if it has no solicitation program, in a way
that makes the policy known to all parts of the general community it serves? If "Yes," please describe. If "No,"
please explain. If you need more space use Part II. .............................
3
Yes
 
 
4
Does the organization maintain the following?
a
Records indicating the racial composition of the student body, faculty, and administrative staff? ..........
4a
Yes
 
b
Records documenting that scholarships and other financial assistance are awarded on a racially nondiscriminatory
basis? ...............................................
4b
Yes
 
c
Copies of all catalogues, brochures, announcements, and other written communications to the public dealing
with student admissions, programs, and scholarships? ...........................
4c
Yes
 
d
Copies of all material used by the organization or on its behalf to solicit contributions? ..............
4d
Yes
 
If you answered "No" to any of the above, please explain. If you need more space, use Part II.
 
5
Does the organization discriminate by race in any way with respect to:
a
Students' rights or privileges? .....................................
5a
 
No
b
Admissions policies? .........................................
5b
 
No
c
Employment of faculty or administrative staff? ..............................
5c
 
No
d
Scholarships or other financial assistance? ................................
5d
 
No
e
Educational policies? .........................................
5e
 
No
f
Use of facilities? ...........................................
5f
 
No
g
Athletic programs? ..........................................
5g
 
No
h
Other extracurricular activities? .....................................
5h
 
No
If you answered "Yes" to any of the above, please explain. If you need more space, use Part II.
 
6a
Does the organization receive any financial aid or assistance from a governmental agency? ............
6a
Yes
 
b
Has the organization's right to such aid ever been revoked or suspended? ...................
6b
 
No
If you answered "Yes" to either line 6a or line 6b, explain on Part II.
7
Does the organization certify that it has complied with the applicable requirements of sections 4.01 through 4.05
of Rev. Proc. 75-50, 1975-2 C.B. 587, covering racial nondiscrimination? If "No," explain on Part II.
7
Yes
 
Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50085D
Schedule E (Form 990 or 990-EZ) 2010
Schedule E (Form 990 or 990EZ) 2010
Page 2
Part II
Supplemental Information
Complete this part to provide the explanations required by Part I, lines 3, 4d, 5h, 6b, and 7, as applicable. Also complete this part to provide any other additional information (see instructions).
Identifier Return Reference Explanation
Schedule E, Line 3 - Racially Nondiscriminatory Policy Publicized   Wake Forest University publishes its nondiscrimination policy in the undergraduate bulletin, which is distributed to all students annually. Nondiscrimination language appears in employment advertising and in ads for the University's educational programs and is available at www.wfu.edu
Schedule E, Line 6 - Explanation of Aid or Assistance from Governmental Agency   Wake Forest University participates in government loan and scholarship programs on behalf of its students. Funds are awarded to eligible students as part of the University's educational purpose. Funds are awarded to eligible students on a nondiscriminatory basis.
Schedule E (Form 990 or 990-EZ) 2010
Additional Data


Software ID: 10000105
Software Version: 2010v3.2
SCHEDULE F
(Form 990)

Department of the Treasury
Internal Revenue Service
Statement of Activities Outside the United States
Right pointing arrow large image Complete if the organization answered "Yes" to Form 990,
Part IV, line 14b, 15, or 16.
Right pointing arrow large image Attach to Form 990. Right pointing arrow large image See separate instructions.
OMB No. 1545-0047
2010
Open to Public Inspection
Name of the organization
WAKE FOREST UNIVERSITY
 
Employer identification number

56-0532138
Part I
General Information on Activities Outside the United States. Complete if the organization answered
“Yes” to Form 990, Part IV, line 14b.
1
For grantmakers. Does the organization maintain records to substantiate the amount of the grants or
assistance, the grantees' eligibility for the grants or assistance, and the selection criteria used to award
the grants or assistance? ...................................
2
For grantmakers. Describe in Part V the organization’s procedures for monitoring the use of grant funds outside the
United States.
3
Activites per Region. (Use Part V if additional space is needed.)
(a) Region (b) Number of offices in the region (c) Number of employees or agents in region or independent contractors (d) Activities conducted in region (by type) (e.g., fundraising, program services, investments, grants to recipients located in the region) (e) If activity listed in (d) is a program service, describe specific type of
service(s) in region		 (f) Total
expenditures for region/investments
in region
Sub-Saharan Africa 0 0 Investments   13,819,000
South Asia 0 0 Investments   9,676,000
South America 0 0 Investments   22,903,000
Russia & Ind Sts 0 0 Investments   7,528,000
North America 0 0 Investments   19,078,000
Mid East & N Africa 0 0 Investments   6,499,000
East Asia & Pacfic 0 0 Investments   82,138,000
Europe & North Atlantic 0 0 Investments   60,420,000
Ctr America & Caribbean 0 0 Investments   693,000
North America 0 0 Program Services Services 23,908
Russia & Ind Sts 0 0 Program Service Research 2,000
North America 0 0 Program Service Recruiting 423
Europe & North Atlantic 0 0 Program Service Fundraising 1,410
East Asia & Pacific 0 0 Program Service Fundraising 2,791
East Asia & Pacific 0 0 Program Service Recruiting 9,634
Sub-Saharan Africa 0 0 Program Service Study Abroad 9,533
Sub-Saharan Africa 0 3 Program Service Research 38,081
Sub-Saharan Africa 0 0 Program Service Conference 2,740
South Asia 0 0 Program Service Study Abroad 5,021
South Asia 0 0 Program Service Research 8,486
South America 0 0 Program Service Study Abroad 165,432
South America 0 0 Program Service Research 92,373
South America 0 0 Program Service Conference 5,208
North America 0 0 Program Service Study Abroad 19,388
North America 0 0 Program Service Research 12,398
North America 0 0 Program Service Conference 50,046
Mid East & N Africa 0 0 Program Service Study Abroad 46,627
Mid East & N Africa 0 0 Program Service Research 6,105
Mid East & N Africa 0 0 Program Service Conference 10,366
Europe & North Atlantic 0 0 Program Service Research 129,283
Europe & North Atlantic 0 0 Program Service Conference 79,018
Europe & North Atlantic 5 33 Program Service Study Abroad 2,695,330
East Asia & Pacific 0 0 Program Service Study Abroad 84,164
East Asia & Pacific 0 0 Program Service Research 24,218
East Asia & Pacific 0 0 Program Service Conference 21,070
Ctr America & Caribbean 0 0 Program Service Conference 3,469
Ctr America & Caribbean 0 0 Program Service Research 7,029
Ctr America & Caribbean 1 9 Program Service Study Abroad 851,607
3a Sub-total ..... 6 42 4,137,699
b Total from continuation sheets to Part I ...   3 223,023,459
c Totals (add lines 3a and 3b) 6 45 227,161,158
For Privacy Act and Paperwork Reduction Act Notice, see the Instructions for Form 990.Cat. No. 50082W Schedule F (Form 990) 2010
Schedule F (Form 990) 2010
Page 2
Part II
Grants and Other Assistance to Organizations or Entities Outside the United States. Complete if the organization answered "Yes" to Form 990,
Part IV, line 15, for any recipient who received more than $5,000. Check this box if no one recipient received more than $5,000 ........ MediumBullet
Use Part V if additional space is needed.
1 (a) Name of organization (b) IRS code section
and EIN (if applicable)		 (c) Region (d) Purpose of
grant 		(e) Amount of
cash grant 		(f) Manner of
cash
disbursement 		(g) Amount of
of non-cash
assistance 		(h) Description
of non-cash
assistance 		(i) Method of
valuation
(book, FMV,
appraisal, other)
SubSaharan Afr Support 3,600 Check      
Eur North Atl Stu Programs 384,850 Check & wire      
E Asia Pacific Stu Programs 29,103 Check & wire      
Cen Am Carib Support 1,300 Check      
             
             
             
             
             
             
             
             
             
             
             
             
2
Enter total number of recipient organizations listed above that are recognized as charities by the foreign country, recognized as tax-exempt by the IRS, or for which the grantee or counsel has provided a section 501(c)(3) equivalency letter .....MediumBullet
4
3
Enter total number of other organizations or entities ........................MediumBullet
 
Schedule F (Form 990) 2010
Schedule F (Form 990) 2010Page 3
Part III
Grants and Other Assistance to Individuals Outside the United States. Complete if the organization answered "Yes" to Form 990, Part IV, line 16.
Use Part V if additional space is needed.
(a) Type of grant or assistance (b) Region (c) Number of recipients (d) Amount of
cash grant 		(e) Manner of cash
disbursement 		(f) Amount of
non-cash
assistance 		(g) Description
of non-cash
assistance 		(h) Method of
valuation
(book, FMV,
appraisal, other)
Student research grant South America 2 2,177 Check/wire      
Student research grant Russia & Ind Sts 1 500 Check/wire      
Student research grant North America 3 2,387 Check/wire      
Student research grant Europe & N Atlant 3 1,965 Check/wire      
Student research grant Ctr America & Caribb 8 5,025 Check/wire      
               
               
               
               
               
               
               
               
               
               
               
               
               
Schedule F (Form 990) 2010
Schedule F (Form 990) 2010
Page 4
Part IV
Foreign Forms
1 Was the organization a U.S. transferor of property to a foreign corporation during the tax year? If "Yes," the organization may be required to file Form 926 (see instructions for Form 926).................
2 Did the organization have an interest in a foreign trust during the tax year? If " Yes," the organization may be required to file Form 3520 and/or Form 3520-A. (see instructions for Forms 3520 and 3520-A)..........
3 Did the organization have an ownership interest in a foreign corporation during the tax year? If "Yes," the organization may be required to file Form 5471, Information Return of U.S. Persons with respect to Certain Foreign Corporations. (see instructions for Form 5471)..............................
4 Was the organization a direct or indirect shareholder of a passive foreign investment company or a qualified electing fund during the tax year? If "Yes," the organization may be required to file Form 8621, Return by a Shareholder of a Passive Foreign Investment Company or Qualified Electing Fund. (see instructions for Form 8621)
5 Did the organization have an ownership interest in a foreign partnership during the tax year? If "Yes," the organization may be required to file Form 8865, Return of U.S. Persons with respect to Certain Foreign Partnerships. (see instructions for Form 8865)....................................
6 Did the organization have any operations in or related to any boycotting countries during the tax year? If "Yes," the organization may be required to file Form 5713, International Boycott Report (see instructions for Form 5713)................................................
Schedule F (Form 990) 2010
Schedule F (Form 990) 2010
Page 5
Part V
Supplemental Information
Complete this part to provide the information (see instructions) required in Part I, line 2, and any additional information.
Identifier ReturnReference Explanation
Grantmaker's Description of How Grants are Used in Foreign Country   The organization provides funding to faculty for research and other projects and to students for research and other projects. Expenses must be substantiated under the Accountable Plan to ensure proper use of funds.The Organization sometimes provides operating funds to collaborative organizations and charitable foreign organizations, which are not monitored beyond the original grant determination process.
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
Schedule F (Form 990) 2010
Additional Data


Software ID: 10000105
Software Version: 2010v3.2



SCHEDULE G
(Form 990 or 990-EZ)
Department of the Treasury
Internal Revenue Service
Supplemental Information Regarding
Fundraising or Gaming Activities
Complete if the organization answered "Yes" to Form 990, Part IV, lines 17, 18, or 19,
or if the organization entered more than $15,000 on Form 990-EZ, line 6a.
right arrow Attach to Form 990 or Form 990-EZ. right arrow See separate instructions.
OMB No. 1545-0047
2010
Open to Public Inspection
Name of the organization
WAKE FOREST UNIVERSITY
 
Employer identification number

56-0532138
Part I
Fundraising Activities. Complete if the organization answered "Yes" to Form 990, Part IV, line 17.
1
Indicate whether the organization raised funds through any of the following activities. Check all that apply.
a e
b f
c g
d
2a
Did the organization have a written or oral agreement with any individual (including officers, directors, trustees
or key employees listed in Form 990, Part VII) or entity in connection with professional fundraising services?
b
If “Yes,” list the ten highest paid individuals or entities (fundraisers) pursuant to agreements under which the fundraiser is
to be compensated at least $5,000 by the organization. Form 990-EZ filers are not required to complete this table.
(i) Name and address of individual
or entity (fundraiser) 		(ii) Activity (iii) Did fundraiser have custody or control of contributions? (iv) Gross receipts
from activity 		(v) Amount paid to
(or retained by)
fundraiser listed in
col. (i) 		(vi) Amount paid to
(or retained by)
organization
Yes No
      No      
 
ScreamerVision
27 W 35th St
 
New Nork, NY10001 		Produce DVDs   No   5,847  
Julia Emlen
350 Prospect St
 
Seekonk, MA02771 		Consultant   No   15,013  
Julie Helsabeck
420 Lawndale Dr
 
Winston, NC27104 		Design Services   No   25,430  
 
Marts & Lundy
1200 Wall St
 
Lyndhurst, NJ07071 		Consulting   No   70,160  
Lawson Drinkard
PO Box 1645
 
Big Timber, MT59011 		Consulting   No   97,754  
 
Seftel Prod
347 W 36th St
 
New York, NY10018 		Campaign Video   No   115,000  
 
Sterner-Sedeno
7228 Brennans P
 
Dallas, TX75214 		Consulting   No   149,400  
Total .................right arrow   478,604  
3
List all states in which the organization is registered or licensed to solicit funds or has been notified it is exempt from registration or licensing.
DC, WY, WI, WV, WA, VT, VA, UT, TX, TN, SD, SC, RI, PA, OR, OK, OH, NY, ND, NC, NM, NJ, NH, NV, NE, MT, MS, MO, MI, MA, ME, LA, KS, IA, IN, IL, ID, HI, GA, FL, DE, CT, CO, CA, AZ, AR, AK, AL
For Privacy Act and Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50083H
Schedule G (Form 990 or 990-EZ) 2010
Schedule G (Form 990 or 990-EZ) 2010
Page 2
Part II
Fundraising Events. Complete if the organization answered "Yes" to Form 990, Part IV, line 18, or reported more than $15,000 on Form 990-EZ, line 6a. List events with gross receipts greater than $5,000.
(a) Event #1

WFDD Events
(event type) 		(b) Event #2

Alumni Events
(event type) 		(c) Other Events

2
(total number) 		(d) Total Events
(Add col. (a) through col. (c))
VerticalRevenue 1 Gross receipts . . . 445,440 205,628 33,693 684,761
2 Less: Charitable
contributions . . . 		437,443   10,601 448,044
3 Gross income (line 1
minus line 2) . . . 		7,997 205,628 23,092 236,717
VerticalDirectExpenses 4 Cash prizes . . .        
5 Non-cash prizes . . 7,997   2,073 10,070
6 Rent/facility costs . .   6,025 8,234 14,259
7 Food and beverages . . 1,129 142,484 3,251 146,864
8 Entertainment . . .   99,792 3,963 103,755
9 Other direct expenses . 42,457 195,464 19,338 257,259
10 Direct expense summary. Add lines 4 through 9 in column (d) ........... right arrow 532,207
11 Net income summary. Combine lines 3 and 10 in column (d)............ right arrow -295,490
Part III
Gaming. Complete if the organization answered "Yes" to Form 990, Part IV, line 19, or reported more than $15,000 on Form 990-EZ, line 6a.
VerticalRevenue (a) Bingo (b) Pull tabs/Instant
bingo/progressive bingo 		(c) Other gaming (d) Total gaming (Add col. (a) through col. (c))
1 Gross revenue . . . .        
VerticalDirectExpenses 2 Cash prizes . . . .        
3 Non-cash prizes . . .        
4 Rent/facility costs . . .        
5 Other direct expenses . .        
6 Volunteer labor . . .
 
 
 
7 Direct expense summary. Add lines 2 through 5 in column (d) ........... right arrow  
8 Net gaming income summary. Combine lines 1 and 7 in column (d) .......... right arrow  
9
Enter the state(s) in which the organization operates gaming activities:
a
Is the organization licensed to operate gaming activities in each of these states? ............
b
If "No," Explain:
 
10a
Were any of the organization's gaming licenses revoked, suspended or terminated during the tax year? .....
b
If "Yes," Explain:
 
11
Does the organization operate gaming activities with nonmembers? .................
12
Is the organization a grantor, beneficiary or trustee of a trust or a member of a partnership or other entity
formed to administer charitable gaming? ...........................
Schedule G (Form 990 or 990-EZ) 2010
Schedule G (Form 990 or 990-EZ) 2010
Page 3
13
Indicate the percentage of gaming activity operated in:
a
The organization's facility ......................
13a
 
b
An outside facility ........................
13b
 
14
Provide the name and address of the person who prepares the organization's gaming/special events books and records:
Name right arrow
Address right arrow
15a
Does the organization have a contract with a third party from whom the organization receives gaming
revenue? ......................................
b
If "Yes," enter the amount of gaming revenue received by the organization right arrow $   and the
amount of gaming revenue retained by the third party right arrow $   .
c
If "Yes," enter name and address:
Name right arrow
Address right arrow
 
 
16
Gaming manager information:
Name right arrow
Gaming manager compensation right arrow $  
Description of services provided right arrow
 
17
Mandatory distributions:
a
Is the organization required under state law to make charitable distributions from the gaming proceeds to
retain the state gaming license? ............................
b
Enter the amount of distributions required under state law distributed to other exempt organizations or spent
in the organization's own exempt activities during the tax year right arrow$  
Part IV
Complete this part to provide additional information for responses to quuestion on Schedule G (see instructions.)
Identifier ReturnReference Explanation
Schedule G (Form 990 or 990-EZ) 2010
Additional Data


Software ID: 10000105
Software Version: 2010v3.2
Schedule I
(Form 990)
Department of the Treasury
Internal Revenue Service
Grants and Other Assistance to Organizations,
Governments and Individuals in the United States
Complete if the organization answered "Yes," to Form 990, Part IV, line 21 or 22.
lBullet Attach to Form 990
OMB No. 1545-0047
2010
Open to Public
Inspection
Name of the organization
WAKE FOREST UNIVERSITY
 
Employer identification number
56-0532138
Part I
General Information on Grants and Assistance
1
Does the organization maintain records to substantiate the amount of the grants or assistance, the grantees' eligibility for the grants or assistance, and
the selection criteria used to award the grants or assistance? ....................................
2
Describe in Part IV the organization's procedures for monitoring the use of grant funds in the United States.
Part II
Grants and Other Assistance to Governments and Organizations in the United States. Complete if the organization answered "Yes" to
Form 990, Part IV, line 21 for any recipient that received more than $5,000. Check this box if no one recipient received more than $5,000. Use
Part IV and Schedule I-1 (Form 990) if additional space is needed ......................... lBullet
(a) Name and address of organization
or government		 (b) EIN (c) IRC Code section
if applicable		 (d) Amount of cash grant (e) Amount of non-cash
assistance		 (f) Method of valuation
(book, FMV, appraisal,
other)		 (g) Description of
non-cash assistance		 (h) Purpose of grant
or assistance
(1) WPDA INC1001 West Fourth Street
WinstonSalem,NC27101 		45-3814914 501(c)(3) 150,000 0     Program Charitable Contributn
(2) Winthrop University701 Oakland Ave
Rock Hill,SC29733 		57-6001204 501(c)(3) 16,915 0     Research Sub- contract
(3) Western Carolina UniversityHFR Admin Bldg Rm 317
Cullowhee,NC28723 		56-6001440 115(a)(2) 12,363 0     DHS Sub- contract
(4) Wake Forest College Birthplace SocietyPO Box 494
Wake Forest,NC27588 		56-6072013 501(c)(3) 150,000 0     Operations Support
(5) Univ of Oklahoma Fndn100 Timberdell Rd
Norman,OK73019 		73-6091755 501(c)(3) 7,000 0     Program Contributn
(6) United Way of Forsyth County301 North Main Street
WinstonSalem,NC27101 		23-7357234 501(c)(3) 25,196 0     Charitable Contrib
(7) UNC School of the Arts1533 S Main Street
WinstonSalem,NC27127 		56-6065273 115(a)(2) 30,922 0     Sponsored Sub- contract
(8) UNC Chapel Hill208 West Franklin Street
Chapel Hill,NC27599 		69-9091994 115(a)(2) 7,500 0     ACC Int'l Conf Schol'ship
(9) UNC Chapel Hill208 West Franklin Street
Chapel Hill,NC27599 		69-9091994 115(a)(2) 10,982 0     Research Sub- contract
(10) Texas A&M - AgriLife Research2147 TAMU
College Station,TX77843 		74-6000531 115(a)(2) 10,750 0     Research Sub- contract
(11) Smithsonian Inst1000 Jefferson Dr SW
Washington,DC20560 		53-0206027 501(c)(3) 12,500 0     Charitable Contrib
(12) Reynolda House IncPO Box 7287
WinstonSalem,NC27109 		56-0810676 501(c)(3) 450,000 0     Operations Support
(13) Old Hickory Council BSA6600 Silas Creek Parkway
WinstonSalem,NC27106 		56-0529985 501(c)(3) 10,000 0     Charitable Contrib
(14) NJ Institute of Technology323 Martin Luther King Jr Blvd
Newark,NJ07102 		22-6000910 115(a)(2) 23,806 0     Research Subcontract
(15) New England Baptist Hospital125 Parker Hill Avenue
Boston,MA02120 		04-2103612 501(c)(3) 32,913 0     Research Subcontract
(16) Medical College of Wisconsin8701 Watertown Plank Road
Milwaukee,WI53226 		39-0806261 501(c)(3) 14,234 0     Research Subcontract
(17) La Salle University1900 West Olney Ave
Philadelphia,PA19141 		23-1352654 501(c)(3) 27,577 0     Research Subcontract
(18) Kids Childhood Cancer930 Biloxi Avenue
Kernersville,NC27284 		27-0304893 501(c)(3) 20,808 0     Charitable Contrib
(19) Forte Foundation6628 Tasajillo Trail
Austin,TX78739 		61-1457145 501(c)(3) 12,500 0     Charitable Contrib
(20) Eastern Michigan Univ1000 College Place
Ypsilanti,MI48197 		38-6005986 115(a)(2) 13,517 0     Research Subcontract
(21) Duke University324 Blackwell Street
Durham,NC27701 		56-0532129 501(c)(3) 84,800 0     ACC Int'l Conf Scholarships
2
Enter total number of section 501(c)(3) and government organizations ......................... Bullet Image
21
3
Enter total number of other organizations ................................ . Bullet Image
0
For Privacy Act and Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50055P
Schedule I (Form 990) 2010

Schedule I (Form 990) 2010
Page 2
Part III
Grants and Other Assistance to Individuals in the United States. Complete if the organization answered "Yes" to Form 990, Part IV, line 22.
Use Schedule I-1 (Form 990) if additional space is needed.
(a)Type of grant or assistance (b)Number of
recipients		 (c)Amount of
cash grant		 (d)Amount of
non-cash assistance		 (e)Method of valuation (book,
FMV, appraisal, other)		 (f)Description of non-cash assistance
(1) State Provided Scholarships 1144 2,141,036      
(2) ROTC Scholarships 35 283,371      
(3) Grants for Student Travel 319 209,210      
(4) General Tuition Scholarships 3188   59,030,076 Univ. charges Tuition discounts
(5) Federal Aid Scholarships 687 1,536,136      
(6) Departmental Scholarships 647 748,006      
(7) Athletic Tuition Awards 285   9,175,989 Univ. charges Tuition discounts

Part IV
Supplemental Information. Complete this part to provide the information required in Part I, line 2, and any other additional information.
Identifier Return Reference Explanation
Grantmaker's Description of How Grants are Used   Wake Forest University carefully selects qualified exempt organizations for its contributions and provides support for worthy projects and events in which the University has an interest.Grants provided to students are monitored either through use -for University tuition and fees- or by requiring substantiation from the students for research projects or scholastic travel grants.
Schedule I (Form 990) 2010


Additional Data


Software ID: 10000105
Software Version: 2010v3.2


Schedule J
(Form 990)
Department of the Treasury
Internal Revenue Service
Compensation Information
For certain Officers, Directors, Trustees, Key Employees, and Highest
Compensated Employees
SchJMediumBullet Complete if the organization answered "Yes" to Form 990,
Part IV, question 23.
SchJMediumBullet Attach to Form 990. SchJMediumBullet See separate instructions.
OMB No. 1545-0047
2010
Open to Public Inspection
Name of the organization
WAKE FOREST UNIVERSITY
 
Employer identification number

56-0532138
Part I
Questions Regarding Compensation
Yes
No
1a
Check the appropiate box(es) if the organization provided any of the following to or for a person listed in Form
990, Part VII, Section A, line 1a. Complete Part III to provide any relevant information regarding these items.
b
If any of the boxes in line 1a are checked, did the organization follow a written policy regarding payment or reimbursement orprovision of all the expenses described above? If "No," complete Part III to explain....
1b
Yes
 
2
Did the organization require substantiation prior to reimbursing or allowing expenses incurred by all
officers, directors, trustees, and the CEO/Executive Director, regarding the items checked in line 1a? ....
2
Yes
 
3
Indicate which, if any, of the following the organization uses to establish the compensation of the
organization's CEO/Executive Director. Check all that apply.
4
During the year, did any person listed in Form 990, Part VII, Section A, line 1a with respect to the filing organization or a related organization:
a
Receive a severance payment or change-of-control payment? ...............
4a
Yes
 
b
Participate in, or receive payment from, a supplemental nonqualified retirement plan? ........
4b
Yes
 
c
Participate in, or receive payment from, an equity-based compensation arrangement? ........
4c
 
No
If "Yes" to any of lines 4a-c, list the persons and provide the applicable amounts for each item in Part III.
Only 501(c)(3) and 501(c)(4) organizations only must complete lines 5-9.
5
For persons listed in form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the revenues of:
a
The organization? ...........................
5a
 
No
b
Any related organization? .........................
5b
 
No
If "Yes," to line 5a or 5b, describe in Part III.
6
For persons listed in form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the net earnings of:
a
The organization? ...........................
6a
 
No
b
Any related organization? .........................
6b
 
No
If "Yes," to line 6a or 6b, describe in Part III.
7
For persons listed in Form 990, Part VII, Section A, line 1a, did the organization provide any non-fixed
payments not described in lines 5 and 6? If "Yes," describe in Part III ............
7
Yes
 
8
Were any amounts reported in Form 990, Part VII, paid or accured pursuant to a contract that was
subject to the initial contract exception described in Regs. section 53.4958-4(a)(3)? If "Yes," describe
in Part III .............................
8
 
No
9
If "Yes" to line 8, did the organization also follow the rebuttable presumption procedure described in Regulations section 53.4958-6(c)? .........................
9
 
No
For Privacy Act and Paperwork Reduction Act Notice, see the Intructions for Form 990
Cat. No. 50053T
Schedule J (Form 990) 2010

Schedule J (Form 990) 2010
Page 2
Part II
Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees. Use Schedule J-1 if additional space needed.
For each individual whose compensation must be reported in Schedule J, report compensation from the organization on row (i) and from related organizations, described in the
instructions on row (ii). Do not list any individuals that are not listed on Form 990, Part VII.

Note. The sum of columns (B)(i)-(iii) must equal the applicable column (D) or column (E) amounts on Form 990, Part VII, line 1a.
(A) Name (B) Breakdown of W-2 and/or 1099-MISC compensation (C) Retirement and other deferred compensation (D) Nontaxable
benefits		 (E) Total of columns
(B)(i)-(D) 		(F) Compensation
reported in prior
Form 990 or
Form 990-EZ
(i) Base compensation (ii) Bonus & incentive compensation (iii) Other reportable compensation
(1) William C GordonPhD (i)
(ii)		 205,281
  		 
  		396
  		17,755
  		24,226
  		247,658
  		 
 
(2) Steven S Reinemund (i)
(ii)		 394,245
  		 
  		6,005
  		24,500
  		15,662
  		440,412
  		 
 
(3) Ronald D Wellman (i)
(ii)		 630,015
  		 
  		1,767,306
  		24,500
  		20,769
  		2,442,590
  		 
 
(4) Nathan O Hatch PhD (i)
(ii)		 624,297
  		50,000
  		668,076
  		55,078
  		61,048
  		1,458,499
  		 
 
(5) Nancy Suttenfield to 11810 (i)
(ii)		 341,629
  		45,000
  		16,075
  		20,927
  		9,836
  		433,467
  		 
 
(6) Matthew S Cullinan PhD (i)
(ii)		 262,279
  		25,000
  		7,547
  		18,375
  		12,496
  		325,697
  		 
 
(7) Mark A Petersen (i)
(ii)		 353,062
  		25,000
  		16,558
  		24,500
  		13,098
  		432,218
  		 
 
(8) Louis R Morrell (i)
(ii)		 205,273
  		29,867
  		29,396
  		23,787
  		12,046
  		300,369
  		 
 
(9) John P Anderson PhD (i)
(ii)		 138,281
  		 
  		1,112
  		14,516
  		15,082
  		168,991
  		 
 
(10) Jim B Grobe (i)
(ii)		 2,168,777
  		26,940
  		18,839
  		24,500
  		15,742
  		2,254,798
  		 
 
(11) Jill M Tiefenthaler PhD (i)
(ii)		 351,962
  		25,000
  		18,794
  		24,500
  		20,358
  		440,614
  		 
 
(12) Jeffrey Bzdelik (i)
(ii)		 930,238
  		100
  		6,486
  		12,250
  		15,286
  		964,360
  		 
 
(13) James J Dunn (i)
(ii)		 502,995
  		250,000
  		1,579
  		 
  		16,311
  		770,885
  		 
 
(14) Jacquelyn S Fetrow PhD (i)
(ii)		 226,272
  		20,000
  		7,841
  		17,213
  		8,324
  		279,650
  		 
 
(15) J Reid Morgan (i)
(ii)		 303,894
  		50,000
  		11,335
  		24,500
  		24,526
  		414,255
  		 
 
(16) Dino J Gaudio (i)
(ii)		 248,362
  		30,100
  		867,640
  		6,253
  		5,927
  		1,158,282
  		 
 
(17) Craig O Thomas (i)
(ii)		 195,975
  		 
  		60
  		15,188
  		16,476
  		227,699
  		 
 
(18) Blake D Morant (i)
(ii)		 324,305
  		15,000
  		15,053
  		24,500
  		19,555
  		398,413
  		 
 
(19) Anita M Conrad (i)
(ii)		 144,833
  		2,500
  		188
  		15,074
  		14,132
  		176,727
  		 
 
(20) Ajay PatelPhD (i)
(ii)		 322,687
  		35,000
  		471
  		24,500
  		22,115
  		404,773
  		 
 
Schedule J (Form 990) 2010

Schedule J (Form 990) 2010
Page 3
Part III
Supplemental Information
Complete this part to provide the information, explanation, or descriptions required for Part I, lines 1a, 1b, 4c, 5a, 5b, 6a, 6b, 7, and 8. Also complete this part for any additional information.
Identifier Return Reference Explanation
Sch J, Part III, Additional Information Part III, Additional Information The filing organization, as part of the compensation arrangement for President Nathan O. Hatch, forgave a loan to Dr. Hatch for the purchase of life insurance, creating taxable compensation in the amount of $621,510 (included in the amount shown in column B (iii) of Part II, Schedule J for Dr. Hatch).Ronald D. Wellman received $1,737,619 (included in column B (iii) of Part II, Schedule J) from the payout of his deferred compensation arrangement which accrued from 1995 through 2010 and vested during the 2010 W-2 year reported herein.John P. Anderson, PhD, the former VP Finance and Administration, was employed as a faculty member of the University during the year and is compensated solely in that capacity. Dr. Anderson retired in May, 2011.Louis R. Morrell, former Treasurer, was not compensated during the tax year. His retirement occurred 6/30/10, therefore he was not an Officer or employee in this year. However, his reported salary is based on calendar year 2010, during which he was an employee for six months.
Sch J, Part I, Line 7 Part I, Line 7: Non-Fixed payments not listed above Various Officers and Key Employees have incentive compensation components contained in their employment agreements. These are often goal-based and are determined in the evaluation of the employee's performance by his or her supervisor or the compensation committee of the filing organization's board, as applicable. Others are awarded discretionary amounts, but within budgetary constraints. Other non-fixed payments may include sums for relocation that are typically included as a provision in an employment agreement. All such payments are reflected on the individual's W-2.
Sch J, Part I, Line 1a Part I, Line 1a: Relevant information in regards to selections on 1a. Charter Travel: Charter travel is sometimes made available for various business and scheduling needs of the officers traveling. Athletics personnel sometimes use charters for team travel. Many of the chartered flights provided during the year were donated to the university. As such travel is for business purposes only, it is not treated as taxable.Travel for companions: Spousal travel is allowed when pursuant to a bona fide business purpose and/or approved by the President or Cabinet. To the extent that there is a business purpose for the travel, it is not treated as taxable.Tax indemnification: Individuals may have certain payments grossed up at the discretion of the President, Board of Trustees, CFO, or as dictated by their employment contract. All such payments are considered taxable.The President is provided lodging for the convenience of the University as a condition of his employment, and as such, pursuant to IRC Section 119, it is not deemed a taxable benefit.Social Club dues are provided by the University when membership fulfills a university business purpose. All such dues are monitored for personal use and included in taxable compensation when applicable.Personal services, such as housekeeping, landscaping and maintenance, are provided for the President's University-owned residence. The President has a discretionary spending account which is monitored against the University's Accountable Plan. Any expenses deemed personal are treated as taxable compensation.
Schedule J (Form 990) 2010

Additional Data


Software ID: 10000105
Software Version: 2010v3.2
Schedule K
(Form 990)
Department of the Treasury
Internal Revenue Service
Supplemental Information on Tax Exempt Bonds
SchKMediumBullet Complete if the organization answered "Yes" to Form 990, Part IV, line 24a. Provide descriptions,
explanations, and any additional information in Schedule O (Form 990).
SchKMediumBullet Attach to Form 990. SchKMediumBullet See separate instructions.
OMB No. 1545-0047
2010
Open to Public
Inspection
Name of the organization
WAKE FOREST UNIVERSITY
 
Employer identification number
56-0532138
Part I
Bond Issues
(a) Issuer Name (b) Issuer EIN (c) CUSIP # (d) Date Issued (e) Issue Price (f) Description of Purpose (g) Defeased (h) On
Behalf of
Issuer 		(i) Pool
financing
Yes No Yes No Yes No
A NC Capital Facs Fin Agcy
  		56-1592154 65818PEB1 12-21-2004 30,760,000 See Sch K, Part V   X   X   X
B NC Capital Facs Fin Agcy
  		56-1592154 65818PEC9 12-21-2004 36,605,000 See Sch K, Part V   X   X   X
C NC Capital Facs Fin Agcy
  		56-1592154 65818PHB8 05-28-2009 112,612,190 See Sch K, Part V   X   X   X
Part II
Proceeds
A B C D
1 Amount of bonds retired. . . . . 7,065,000 5,150,000    
2 Amount of bonds defeased . . . .        
3 Total proceeds of issue . . . . 30,760,000 36,605,000 113,479,528  
4 Gross proceeds in reserve funds . .        
5 Capitalized interest from proceeds. 5,884,070   5,884,070  
6 Proceeds in refunding escrow. . . . . 30,490,000 36,304,839 38,662,147  
7 Issuance costs from proceeds . . . 270,000 300,161 1,108,136  
8 Credit enhancement from proceeds.        
9 Working capital expenditures from proceeds . .        
10 Capital expenditures from proceeds . . 48,100,681   48,100,681  
11 Other spent proceeds . . 5,891,698   5,891,698  
12 Other unspent proceeds. . . 13,832,796   13,832,796  
13 Year of substantial completion . . . 2001 1999
Yes No Yes No Yes No Yes No
14 Were the bonds issued as part of a current refunding issue?   X X          
15 Were the bonds issued as part of an advance refunding issue? X     X   X    
16 Has the final allocation of proceeds been made? . . X   X     X    
17 Does the organization maintain adequate books and records to support the final allocation of proceeds? . X   X   X      
Part III
Private Business Use
A B C D
Yes No Yes No Yes No Yes No
1 Was the organization a partner in a partnership, or a member of an LLC, which owned property financed by tax-exempt bonds? . . .   X            
2 Are there any lease arrangements that may result in private business use of bond-financed property? . . . . . X              
For Privacy Act and Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50193E
Schedule K (Form 990) 2010
Schedule K (Form 990) 2010
Page 2
Part III
Private Business Use (Continued)
A B C D
Yes No Yes No Yes No Yes No
3a Are there any management or service contracts that may result in private business use? X              
b Are there any research agreements that may result in private business use of bond-financed property? . .   X            
c Does the organization routinely engage bond counsel or other outside counsel to review any management or service contracts or research agreements relating to the financed property? . X              
4 Enter the percentage of financed property used in a private business use by entities other than a section 501(c)(3) organization or a state or local government . . . . . . . . . . . . . SchKMediumBullet 0 %      
5 Enter the percentage of financed property used in a private business use as a result of unrelated trade or business activity carried on by your organization, another section 501(c)(3) organization, or a state or local government . SchKMediumBullet 0 %      
6 Total of lines 4 and 5 . . .. . . . . . 0 %      
7 Has the organization adopted management practices and procedures to ensure the post-issuance compliance of its tax-exempt bond liabilities? X              
Part IV
Arbitrage
A B C D
Yes No Yes No Yes No Yes No
1 Has a Form 8038-T, Arbitrage Rebate, Yield Reduction and Penalty in Lieu of Arbitrage Rebate, been filed with respect to the bond issue? . . .   X   X   X    
2 Is the bond issue a variable rate issue? X   X     X    
3a Has the organization or the governmental issuer entered into a hedge with respect to the bond issue? X     X   X    
b Name of provider . See Part V
  		 
  		 
  		 
 
c Term of hedge . . 8.5000      
d Was the hedge superintegrated? .   X            
e Was a hedge terminated? . X              
4a Were gross proceeds invested in a GIC? .   X   X   X    
b Name of provider .  
  		 
  		 
  		 
 
c Term of GIC . .        
d Was the regulatory safe harbor for establishing the fair market value of the GIC satisfied? .                
5 Were any gross proceeds invested beyond an available temporary period? .   X   X   X    
6 Did the bond issue qualify for an exception to rebate? . . .   X X     X    
Schedule K (Form 990) 2010

Schedule K (Form 990) 2010
Page 3
Part V
Supplemental Information
Complete this part to provide additional information for responses to questions on Schedule K (see instructions).
Identifier Return Reference Explanation
    SCHEDULE K, PART IBond A,Col(a) Issuer's Name: North Carolina Capital Facilities Finance AgencyBond A,Col(f) The Educational Facilities Revenue Bonds (Wake Forest University), Series 2009 were used for New Capital Facilities and to refund two lines of credit, dated 2/28/2007 and 11/4/2008. The credit lines originated to begin construction on the facilities which were ultimately financed by the Series 2009 TE Bonds. Proceeds from this issue have not been fully expended and the year of substantial completion of the bond projects is not yet known.Bond B,Col(a) Issuer's Name: North Carolina Capital Facilities Finance AgencyBond B,Col(f) The Variable Rate Educational Facilities Revenue Bonds (Wake Forest University), Series 2004A, were used to refund two previous tax exempt bond issues and a line of credit. Tax Exempt Bond issues refunded were dated 12/02/2000 and 12/17/1997. The 2004A bond also refunded the line of credit, dated 11/1/2004, which had refunded the 11/1/04 maturing principal due on the 12/17/1997 bond issue. Bond C,Col(a) Issuer's Name: North Carolina Capital Facilities Finance AgencyBond C,Col(f) The Variable Rate Educational Facilities Revenue Bonds (Wake Forest University), Series 2004B were used for refunding the tax exempt bonds issued 12/17/1997. SCHEDULE K, PART IV, COLUMN C, LINE 3bHedge Providers: Bank of America, N.A. and Wachovia Bank, N.A. The Bank of America, N.A. hedge was terminated in 2009. The Wachovia Bank, N.A., now Wells Fargo Bank, N.A., hedge was terminated in 2011.
Schedule K (Form 990) 2010

Additional Data


Software ID: 10000105
Software Version: 2010v3.2

Schedule L
(Form 990 or 990-EZ)
Department of the Treasury
Internal Revenue Service
Transactions with Interested Persons
MediumBullet Complete if the organization answered
"Yes" on Form 990, Part IV, lines 25a, 25b, 26, 27, 28a, 28b, or 28c,
or Form 990-EZ, Part V lines 38a or 40b.
MediumBullet Attach to Form 990 or Form 990-EZ. MediumBulletSee separate instructions.
OMB No. 1545-0047
2010
Open to Public Inspection
Name of the organization
WAKE FOREST UNIVERSITY
 
Employer identification number

56-0532138
Part I
Excess Benefit Transactions (section 501(c)(3) and section 501 (c)(4) organizations only).
Complete if the organization answered "Yes" on Form 990, Part IV, line 25a or 25b, or Form 990-EZ, Part V, line 40b.
1(a) Name of disqualified person (b) Description of transaction (c) Corrected?
Yes No





2
Enter the amount of tax imposed on the organization managers or disqualified persons during the year under section 4958. ......................... Bullet Image$
 
3
Enter the amount of tax, if any, on line 2, above, reimbursed by the organization ....... Bullet Image$
 

Part II
Loans to and/or From Interested Persons.
Complete if the organization answered "Yes" on Form 990, Part IV, line 26, or Form 990-EZ, Part V, line 38a.
(a) Name of interested person and purpose (b) Loan to or from the organization? (c)Original principal amount (d)Balance due (e) In default? (f) Approved by board or committee? (g)Written agreement?
To From Yes No Yes No Yes No
(1) B Hofler Milam
Relocation bridge loan 		  X 250,000 250,499   No Yes   Yes  
(2) Nathan O Hatch PhD
Loan re: Life insurance 		  X 274,707 219,766   No Yes   Yes  
Total ...............Small Bullet $ 470,265
Part III
Grants or Assistance Benefitting Interested Persons.
Complete if the organization answered "Yes" on Form 990, Part IV, line 27.
(a) Name of interested person (b)Relationship between interested person and the organization (c)Amount of grant or type of assistance
For Privacy Act and Paperwork Reduction Act Notice, see the
Instructions for Form 990 or 990-EZ.
Cat. No. 50056A
Schedule L (Form 990 or 990-EZ) 2010
Schedule L (Form 990 or 990-EZ) 2010
Page 2
Part IV
Business Transactions Involving Interested Persons.
Complete if the organization answered "Yes" on Form 990, Part IV, line 28a, 28b, or 28c.
(a) Name of interested person (b) Relationship between interested person and the organization (c) Amount of transaction (d) Description of transaction (e) Sharing of organization's revenues?
Yes No
(1) Julia Hatch See Part V 25,000 Employee Wages   No
(2) BB&T Corp
  		See Part V 741,140 Corporate Sponsorship   No
(3) Blue CrossBlue Shield NC
  		See Part V 1,600,601 Health Plan Administrator   No
(4) BB&T Corp
  		See Part V 1,057,999 Rental income   No
(5) Brian A Kell See Part V 48,436 Employee Wages   No
(6) Dr Kevin N Rask See Part V 123,828 Employee Wages   No
(7) Flow Automotive Companies
  		See Part V 103,046 Purchase vehicles, repair   No
(8) Internatl Sports Properties Inc
  		See Part V 98,194 Sports Marketing svcs   No
(9) Internatl Sports Properties Inc
  		See Part V 2,116,908 Licensing Royalties   No
(10) Muriel Hopkins See Part V 39,278 Employee wages   No
(11) BB&T Corp
  		See Part V 141,630 Bank Fees & Loan Interest   No
Part V
Supplemental Information
Complete this part to provide additional information for responses to questions on Schedule L (see instructions).
Identifier Return Reference Explanation
    Part IIB. Hofler Milam paid his the bridge loan in full on July 13, 2011.Part IVBB&T Corp: A former trustee of the organization, Robert E. Greene, is an officer of BB&T Corp. Muriel Hopkins: Family member of organization's former trustee, Lawrence D. Hopkins, M.D.International Sports Properties, Inc. (ISP): Organization trustee, Benjamin C. Sutton, Jr., is an officer and owner of ISP. Flow Automotive Companies: Organization trustee, Donald E. Flow, is the president and majority owner of Flow Automotive Companies.Dr. Kevin N. Rask: Family member of the organization's officer, Dr. Jill M. Tiefenthaler.Brian A. Kell: Family member of the organization's key employee, Dr. Jacquelyn S. Fetrow.Blue Cross/Blue Shield of North Carolina: The organization's trustee, James T. Williams, Jr., is a director of Blue Cross/Blue Shield of North Carolina (BCBSNC).Julia Hatch: Family member of the organization's president, Nathan O. Hatch.
Schedule L (Form 990 or 990-EZ) 2010

Additional Data


Software ID: 10000105
Software Version: 2010v3.2




SCHEDULE M
(Form 990)

Department of the Treasury
Internal Revenue Service
NonCash Contributions
Right pointing arrow large imageComplete if the organization answered "Yes" on Form 990, Part IV, lines 29 or 30.
Right pointing arrow large image Attach to Form 990.
OMB No. 1545-0047
2010
Open to Public Inspection
Name of the organization
WAKE FOREST UNIVERSITY
 
Employer identification number

56-0532138
Part I
Types of Property
(a)
Check if applicable 		(b)
Number of Contributions or items contributed 		(c)
Contribution amounts reported on
Form 990, Part VIII, line 1g 		(d)
Method of determining
contribution amounts
1 Art—Works of art .... X 1 40,000 Appraisal
2 Art—Historical treasures .        
3 Art—Fractional interests ..        
4 Books and publications ..      
5 Clothing and household
goods ....... 		     
6 Cars and other vehicles .. X 91 76,315 Sale proceeds
7 Boats and planes ....        
8 Intellectual property ...        
9 Securities—Publicly traded . X 316 7,032,235 Market Value
10 Securities—Closely held stock .        
11 Securities—Partnership, LLC,
or trust interests .... 		X 5 41,987,436 FMV /Actuarial
12 Securities—Miscellaneous .. X 2 8,459 CSV life ins
13 Qualified conservation
contribution—Historic
structures ..... 		       
14 Qualified conservation
contribution—Other ... 		       
15 Real estate—Residential .        
16 Real estate—Commercial ..        
17 Real estate—Other ...        
18 Collectibles .....        
19 Food inventory ... X 46 32,323 Cost
20 Drugs and medical supplies .        
21 Taxidermy ......        
22 Historical artifacts ....        
23 Scientific specimens ..        
24 Archeological artifacts ... X 252 202,525 FMV
25 Other Right pointing arrow large image ( Furniture ) X 4 29,801 FMV
26 Other Right pointing arrow large image ( Equipment ) X 26 101,466 FMV
27 Other Right pointing arrow large image( )
28 Other Right pointing arrow large image ( )
29
Number of Forms 8283 received by the organization during the tax year for contributions
for which the organization completed Form 8283, Part IV, Donee Acknowledgement ...
29
4
Yes
No
30a
During the year, did the organization receive by contribution any property reported in Part I, lines 1-28 that it
must hold for at least three years from the date of the initial contribution, and which is not required to be used
for exempt purposes for the entire holding period? ..................
30a
 
No
b
If "Yes," describe the arrangement in Part II.
31
Does the organization have a gift acceptance policy that requires the review of any non-standard contributions?
31
Yes
 
32a
Does the organization hire or use third parties or related organizations to solicit, process, or sell non-cash
contributions? ............................
32a
Yes
 
b
If "Yes," describe in Part II.
33
If the organization did not report revenues in column (c) for a type of property for which column (a) is checked,
describe in Part II.
For Privacy Act and Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 51227J
Schedule M (Form 990) 2010
Schedule M (Form 990) 2010
Page 2
Part II
Supplemental Information. Complete this part to provide the information required by Part I, lines 30b,
32b, and 33. Also complete this part for any additional information.
Identifier Return Reference Explanation
Part I, Line 33, Revenues Not Reported   Wake Forest University receives contributed services from donors valued at $643,267, courtesy cars used by employees make up a substantial portion of this.
Part I, Line 32, Hire and Use of Third Parties   Part I, Line 32b. The organization uses Charitable Auto Resources(CARS) to process and sell vehicle donations to its radio station. CARS acts as an agent for the Organization in this process, retaining a flat percentage fee and forwarding the net proceeds to the University.Various Banks and brokers are used to sell donated securities.
Schedule M (Form 990) 2010
Additional Data


Software ID: 10000105
Software Version: 2010v3.2
SCHEDULE O
(Form 990 or 990-EZ)

Department of the Treasury
Internal Revenue Service
Supplemental Information to Form 990 or 990-EZ

Complete to provide information for responses to specific questions on
Form 990 or to provide any additional information.
MediumBullet Attach to Form 990 or 990-EZ.
OMB No. 1545-0047
2010
Open to Public
Inspection
Name of the organization
WAKE FOREST UNIVERSITY
 
Employer identification number

56-0532138
Identifier Return Reference Explanation
  Trustee Services Provided to Multiple Related Organizations, cont. Mitesh B. ShahTrustee, Filing Organization 3 hours per weekTrustee, WFU Foundation 0.5 hours per weekTrustee, WFU Development Foundation 0.5 hours per weekDirector, WFU Health Sciences 4 hours per weekAdelaide A. SinkTrustee, Filing Organization 3 hours per weekTrustee, WFU Foundation 0.5 hours per weekTrustee, WFU Development Foundation 0.5 hours per weekJames T. Williams, Jr.Trustee, Filing Organization 20 hours per weekDirector, WFU Health Sciences 4 hours per weekKyle A. Young, MDTrustee, Filing Organization 4 hours per weekDirector, WFU Health Sciences 4 hours per week
  Trustee Services Provided to Multiple Related Organizations Diana M. AdamsTrustee, Filing Organization 5 hours per weekTrustee, WFU Development Foundation (until 7-16-10) 0.1 hours per weekJohn I. Bitove, Jr.Trustee, Filing Organization 5 hours per weekTrustee, WFU Foundation 0.5 hours per weekTrustee, WFU Development Foundation 0.5 hours per weekDonna A. Boswell, Ph.D.Trustee, Filing Organization 3 hours per weekDirector, WFU Health Sciences 4 hours per weekDirector, WFU Baptist Medical Center 2 hours per weekThomas A. DingledineTrustee, Filing Organization 3 hours per weekTrustee, WFU Foundation 0.5 hours per weekTrustee, WFU Development Foundation 0.5 hours per weekDavid W. DupreeTrustee, Filing Organization 8 hours per weekTrustee, WFU Development Foundation (until 7-16-10) 0.1 hours per weekFrederick W. Eubank, IITrustee, Filing Organization 5 hours per weekTrustee, WFU Foundation 0.5 hours per weekTrustee, WFU Development Foundation 0.5 hours per weekLisbeth C. EvansTrustee, Filing Organization 4 hours per weekTrustee, WFU Foundation 0.5 hours per weekTrustee, WFU Development Foundation 0.5 hours per weekDonald E. FlowTrustee, Filing Organization 3 hours per weekDirector, WFU Health Sciences 4 hours per weekDirector, WFU Baptist Medical Center 2 hours per weekJames R. Helvey, IIITrustee, Filing Organization 5 hours per weekTrustee, WFU Development Foundation (until 7-16-10) 0.1 hours per weekDirector, WFU Health Sciences 4 hours per weekMatthew A. KingTrustee, Filing Organization 4 hours per weekTrustee, WFU Foundation 0.5 hours per weekTrustee, WFU Development Foundation 0.5 hours per weekDeborah D. LambertTrustee, Filing Organization 3 hours per weekTrustee, WFU Foundation 1 hours per weekTrustee, WFU Development Foundation 1 hours per weekJohn K. MedicaTrustee, Filing Organization 3 hours per weekTrustee, WFU Foundation 0.5 hours per weekTrustee, WFU Development Foundation 0.5 hours per weekRichard H. MooreTrustee, Filing Organization 5 hours per weekTrustee, WFU Development Foundation (until 7-16-10) 0.1 hours per weekDeborah K. RubinTrustee, Filing Organization 3 hours per weekDirector, Reynolda House, Inc. 1 hours per weekAndrew J. SchindlerTrustee, Filing Organization 3 hours per weekDirector, WFU Health Sciences 4 hours per weekDirector, WFU Baptist Medical Center 2 hours per week
  Services Provided to this and other Related Organizations, cont. Matthew S. Cullinan, Ph.D.Vice President, Filing Organization 40 hours per weekJames J. DunnVice President, Filing Organization 40 hours per week[but duties include investment of endowment f/b/o related organization, WFUHS]Jill M. Tiefenthaler, Ph.D.Provost, Filing Organization 40 hours per weekJohn P. Anderson, Ph.D.Former Vice President, Filing Organization 40 hours per weekFormer Vice President, WFU Foundation 0 hours per weekFormer Vice President, WFU Development Foundation 0 hours per weekFormer Officer, Reynolda House, Inc. 0 hours per week*Dr. Anderson's compensation from the related organization, Wake Forest University was for services as a professor.Louis R. MorrellFormer Treasurer, Filing Organization 20 hours per weekFormer Treasurer, Wake Forest University Foundation 0 hours per weekFormer Treasurer, WFU Development Foundation 0 hours per week*Mr. Morrell's compensation from the filing organization, Wake Forest University, was for services as an investment managerWilliam C. Gordon, Ph.D.Former Provost, Filing Organization 40 hours per week*Dr. Gordon's compensation from the filing organization, WFU, was for services as a professor.Craig O. ThomasFormer Assistant Treasurer, Filing Organization 40 hours per week*Mr. Thomas' compensation from the filing organization, WFU, was for services as Director of Investments.
  Services Provided to this and other Related Organizations The following persons were compensated directly by Wake Forest University for services performed for Wake Forest University and other organizations related to Wake Forest University. Each person's position in each organization, and the average hours per week that they devote to each entity, are shown below.Nathan O. Hatch, Ph.D.President, Filing Organization 25 hours per weekPresident, Wake Forest University Foundation 0.2 hours per weekPresident, Wake Forest University Development Foundation 0.3 hours per weekDirector and Officer, WFU Health Sciences 3 hours per weekOfficer, Reynolda House, Inc. 0.5 hours per weekDirector, Wake Forest University Baptist Medical Center 8 hours per weekDirector/Board Chair, Piedmont Triad Research Park 2 hours per weekDirector, PTRP Development Corporation 1 hours per weekJ. Reid MorganSecretary and General Counsel, Filing Organization 20 hours per weekSecretary, Wake Forest University Foundation 0.2 hours per weekSecretary, Wake Forest University Development Foundation 0.3 hours per weekSecretary and General Counsel, WFU Health Sciences 5 hours per weekAssistant Secretary, WFU Baptist Medical Center 6 hours per weekDirector, Secretary, Piedmont Triad Research Park 7 hours per weekDirector, Secretary, PTRP Development Corporation 0.6 hours per weekSecretary, Idealliance 0.2 hours per weekSecretary, Idealliance Foundation 0.2 hours per weekSecretary, Dialysis Centers (Group Return) 0.5 hours per weekAnita M. ConradAssistant Secretary, Filing Organization 20 hours per weekAssistant Secretary, Wake Forest University Foundation 1 hours per weekAssistant Secretary, WFU Development Foundation 1 hours per weekAssistant Secretary, WFU Health Sciences 8 hours per weekAssistant Secretary, Piedmont Triad Research Park 8 hours per weekAssistant Secretary, PTRP Development Corporation 2 hours per weekNancy D. Suttenfie1dVice President, Filing Organization (to 11-8-10) 39 hours per weekVice President, WFU Foundation (to 10-5-10) 0.2 hours per weekVice President, WFU Development Foundation (to 10-5-10) 0.5 hours per weekDirector, Piedmont Triad Research Park (to 10-5-10) 0.3 hours per weekB. Hofler MilamVice President, Filing Organization (from 12-1-10) 39.5 hours per weekVice President, WFU Foundation(from 2-17-11) 0.2 hours per weekVice President, WFU Development Foundation (from 2-17-11) 0.3 hours per week
  PART V, LINE 4b: Foreign Accounts INTEREST IN OR AUTHORITY OVER A FOREIGN ACCOUNTNAME OF COUNTRY: United Kingdom, France, Spain, Austria, Italy, Canada, Nicaragua, Cayman Islands.
Form 990, Part VI, Line 19 Form 990, Part VI, Line 19: Other Organization Documents Publicly Available The organization's Articles of Incorporation are available to the public on request and are available on the website of the North Carolina Secretary of State. The organization's bylaws are not published, but provisions from the bylaws are included as necessary in the organization's policies. The organization's conflicts of interest policy is available to the public on request. The organization's consolidated financial statements are made available to the public on the University's website.
Form 990, Part VI, Line 15b Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees An external compensation consultant experienced in higher education compensation presents available total compensation comparability data for the positions for which compensation is being determined. Other sources of data are used as well to supplement this process. The data is reviewed by the Compensation Committee of the organization's governing board at its meeting; none of the members of that committee are employees of the organization. The Compensation Committee of the organization's governing board has been delegated the authority to review and approve compensation. Minutes of the deliberations of the committee are contemporaneously recorded. In the event that any member of the Compensation Committee has a conflict of interest, that committee member does not participate in the deliberation or approval process and their abstention from the process is reflected in the minutes.
Form 990, Part VI, Line 12c Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts The organization requires officers and key employees to annually review the Conflicts of Interest Policy and describe any potential conflicts on a questionnaire. Any potential conflicts noted in the questionnaire are reviewed by a standing committee for appropriate resolution. All members of the Board of Trustees are required to determine and report annually, and as they arise, any potential conflicts of interest to the Secretary of the Board of Trustees. The resolution of potential and actual conflicts is subject to the approval of the Chair of the Board (or Vice Chair, as to conflicts involving the Chair) and is reported to the Chair of the Audit & Compliance Committee of the Board of Trustees.
Form 990, Part VI, Line 11 Form 990, Part VI, Line 11: Form 990 Review Process The organization sends a draft of the Form 990 to its governing board (Board of Trustees) prior to its filing, allowing adequate time for follow-up questions and comments. The draft form is reviewed in detail with the Audit & Compliance Committee of the organization's Board of Trustees. The organization provides a copy of the Form 990 as finalized to all members of both the Audit & Compliance Committee and the entire Board of Trustees for comments and questions prior to filing the Form 990 with the IRS.
Form 990, Part VI, Line 4 Form 990, Part VI, Line 4: Description of Significant Changes to Organizational Documents Effective July 1, 2010, the governing boards of four North Carolina nonprofit corporations (Wake Forest University, North Carolina Baptist Hospital, Wake Forest University Health Sciences, and Wake Forest University Baptist Medical Center) entered into an agreement (the "Medical Center Integration Agreement" or "MCIA") under which the operation of each of North Carolina Baptist Hospital ("NCBH") and Wake Forest University Health Sciences ("WFUHS") was delegated to Wake Forest University Baptist Medical Center ("WFUBMC"). WFUHS is a wholly-controlled subsidiary entity of Wake Forest University ("WFU"). WFUBMC is now a membership nonprofit corporation whose two equal members are NCBH (which entity is unrelated to WFU) and WFU. This consolidation of management in WFUBMC of the various academic medical center operations, subject to substantial reserved powers in each of the constituent members' (or in WFUHS') boards, mandated changes in the governance documents of each organization. Below is a summary of the significant changes to the governance documents of Wake Forest University adopted since the filing of the prior year's Form 990: Bylaws* Health Affairs Committee section (4.3.2.3.4) was revised to require the committee to report both on the status of the WFU medical school and of Wake Forest University Baptist Medical Center.* The Executive Vice President for Health Affairs is added as a corporate officer in section 5.1, and rather than being appointed by the WFU President, this person holds the office ex officio, as CEO of the Medical Center, and his or her duties are as set out in the MCIA. (5.2.1)* The MCIA's controlling provisions are referred to in sections 7.2 and 7.3, with respect to the operation of WFUHS and its programs and research activities.* The major changes to the WFU bylaws are reflected in revisions to Appendix B of such bylaws, containing the Policy for the Operation of the School of Medicine. * The MCIA is described, and the role of WFUBMC in operating WFUHS. The intent that the WFU Bylaws and the WFUHS Articles and Bylaws be consistent with the provisions of the MCIA is stated, but it is also noted that no authority or power held by WFU or WFUHS under the MCIA is restricted or limited by such Articles or Bylaws. * Appendix B now also reflects language from the MCIA regarding the WFU Medical School's aspiration to be part of a preeminent, internationally recognized academic medical center with balanced excellence in patient care, research and education. * Administrative changes resulting from the MCIA are also included, such as the process for appointment of the Medical School Dean, but tenure is still granted only by action of the WFU Board of Trustees. * The reserved powers in WFU specified in the MCIA are, unless specifically delegated to the WFUHS board or to the board of another WFU-controlled subsidiary, to be exercised by the WFU Board of Trustees.
Form 990, Part III, Line 4d Form 990, Part III, Line 4d : Other Program Services Description OTHER PROGRAM SERVICES 4: Grants and internally funded research pursuant to basic science and technology. Wake Forest University manages research projects in Biology, Chemistry, Physics, Mathematics, Computer Science, Health & Exercise Science, Divinity and Business. The Z. Smith Reynolds library and the professional center libraries together hold almost 1.5 million print volumes, as well as access to a multitude of web based resources. The campus libraries provide resources for both student and faculty researchers.
    Client Note 1 - Wake Forest University2010 year ended 6/30/2011Attachment to Form 990-TSTATEMENT 7PART V, LINE 1: INTEREST IN OR AUTHORITY OVER A FOREIGN ACCOUNTNAME OF COUNTRY: United Kingdom, France, Spain, Austria, Italy, Nicaragua, Canada, Cayman Islands.
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 51056K
Schedule O (Form 990 or 990-EZ) 2010

Additional Data


Software ID: 10000105
Software Version: 2010v3.2
SCHEDULE R
(Form 990)
Department of the Treasury
Internal Revenue Service
Related Organizations and Unrelated Partnerships
MediumBulletComplete if the organization answered "Yes" to Form 990, Part IV, line 33, 34, 35, 36, or 37.
MediumBulletAttach to Form 990. MediumBullet See separate instructions.

OMB No. 1545-0047
2010
Open to Public Inspection
Name of the organization
WAKE FOREST UNIVERSITY
 
Employer identification number

56-0532138
Part I
Identification of Disregarded Entities (Complete if the organization answered "Yes" on Form 990, Part IV, line 33.)
(a)
Name, address, and EIN of disregarded entity


(b)
Primary activity


 		(c)
Legal domicile (state
or foreign country)

 		(d)
Total income
(e)
End-of-year assets


 		(f)
Direct controlling
entity







(1) Wake Forest University Spain SL
C/Toro 84-90 Ofincina Izquierda
Salamanca,Salamanca37120
SP
study abroad educ. activities SP   76,109 NA
 
(2) Creative Cafe LLC
PO Box 7201
WinstonSalem,NC27109
26-3700428 		Restaurant NC 289,543 115,198 NA
 
(3) Deacon Blvd Holdings I LLC
PO Box 7201
WinstonSalem,NC27109
26-2203211 		Real Estate Holding - Currently Inactive NC     NA
 






Part II
Identification of Related Tax-Exempt Organizations (Complete if the organization answered "Yes" on Form 990, Part IV, line 34 because it had one or more related tax-exempt organizations during the tax year.)
(a)
Name, address, and EIN of related organization


(b)
Primary activity


 		(c)
Legal domicile (state
or foreign country)

 		(d)
Exempt Code section
(e)
Public charity status
(if section 501(c)(3))

 		(f)
Direct controlling
entity

 		(g)
Section 512(b)(13) controlled organization
Yes No
(1) WFU Bapt Med Ctr Com Physicians

Medical Center Blvd

WinstonSalem,NC27157
56-1903275 		Operates Primary Care Clinics NC 501(c)(3) Line 11a WFU Health Sciences
 
 
No
(2) Dialysis Access Group - Wake Forest Univ

Medical Center Blvd

WinstonSalem,NC27157
20-4241942 		Vascular access treatment of ESRD patients NC 501(c)(3) Line 11a WFU Health Sciences
 
 
No
(3) Piedmont Triad Research Park

Medical Center Blvd

WinstonSalem,NC27157
20-0177581 		Research Park & community economic development NC 501(c)(3) Line 11a WFU Health Sciences
 
 
No
(4) Idealliance Foundation

Medical Center Blvd

WinstonSalem,NC27157
56-2094000 		Educational activities supporting Idealliance NC 501(c)(3) Line 11a WFU Health Sciences
 
 
No
(5) PTRP Development Corp

Medical Center Blvd

WinstonSalem,NC27157
06-1818498 		Research park development oversight NC 501(c)(3) Line 11a WFU Health Sciences
 
 
No
(6) Idealliance

Medical Center Blvd

WinstonSalem,NC27157
56-2094067 		Research Park development NC 501(c)(6)   WFU Health Sciences
 
 
No
(7) Wake Forest Univ Health Sciences Group

Medical Center Blvd

WinstonSalem,NC27157
90-0222618 		Kidney dialysis treatment centers NC 501(c)(3) Line 11a WFU Health Sciences
 
 
No
(8) Wake Forest Univ Baptist Med Center

Medical Center Blvd

WinstonSalem,NC27157
51-0190238 		Supports WFU, WFU Health Sciences, NC Baptist Hospital NC 501(c)(3) Line 11a NA
 
 
No
(9) Reynolda House Inc

PO Box 7287

WinstonSalem,NC27109
56-0810676 		Museum of American Art NC 501(c)(3) Line 7 Wake Forest University
 
Yes
 
(10) Wake Forest University Development Fndn

PO Box 7201

WinstonSalem,NC27109
56-2038194 		Management/Sale of charitable real property donations NC 501(c)(3) Line 11a Wake Forest University
 
Yes
 
(11) Wake Forest University Health Sciences

Medical Center Blvd

WinstonSalem,NC27157
22-3849199 		Medical Education, research and patient care NC 501(c)(3) Line 2 Wake Forest University
 
Yes
 
(12) Wake Forest University Foundation

PO Box 7201

WinstonSalem,NC27109
56-2038193 		Real Estate Holding and Management NC 501(c)(3) Line 11a Wake Forest University
 
Yes
 
For Privacy Act and Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50135Y
Schedule R (Form 990) 2010
Schedule R (Form 990) 2010
Page 2
Part III
Identification of Related Organizations Taxable as a Partnership (Complete if the organization answered "Yes" on Form 990, Part IV, line 34 because it had one or more related organizations treated as a partnership during the tax year.)
(a)
Name, address, and EIN of
related organization



 		(b)
Primary activity




 		(c)
Legal
domicile
(state or foreign
country)


 		(d)
Direct controlling
entity



 		(e)
Predominant income(related, unrelated, excluded from tax under sections 512-514)

(f)
Share of total income




 		(g)
Share of end-of-year
assets



 		(h)
Disproprtionate allocations?




 		(i)
Code V—UBI
amount in box 20 of
Schedule K-1
(Form 1065)
 		(j)
General or
managing
partner?



 		(k)
Percentage
ownership
Yes No Yes No
(1) Third Ave Emrg Mkt Fd LP

622 Third Avenue 32 Floor
New York,NY10017
27-1967789 		Investment NY N/A
 Excluded 935,915 10,935,915   No     No 55.44 %












Part IV
Identification of Related Organizations Taxable as a Corporation or Trust (Complete if the organization answered "Yes" on Form 990, Part IV, line 34 because it had one or more related organizations treated as a corporation or trust during the tax year.)
(a)
Name, address, and EIN of related organization



 		(b)
Primary activity



 		(c)
Legal domicile
(state or
foreign
country)
 		(d)
Direct controlling
entity


 		(e)
Type of entity
(C corp, S corp,
or trust)

 		(f)
Share of total income



 		(g)
Share of
end-of-year
assets

 		(h)
Percentage
ownership
(1) WFU - 6 CRUT
PO Box 7201
WinstonSalem,NC27109
45-6729730 		Investment NC WFU TTEE
  		Trust   1,597,443 53.390 %
(2) WFU - 6 CRUT
PO Box 7201
WinstonSalem,NC27109
90-0237204 		Investment NC WFU TTEE
  		Trust   202,793 64.610 %
(3) WFU - 6375 CRUT
PO Box 7201
WinstonSalem,NC27109
56-6459446 		Investment NC WFU TTEE
  		Trust   90,599 53.350 %
(4) WFU - 6 CRUT
PO Box 7201
WinstonSalem,NC27109
58-6268101 		Investment NC WFU TTEE
  		Trust   133,395 61.100 %
(5) WFU - 6 CRUT
PO Box 7201
WinstonSalem,NC27109
91-1832851 		Investment NC WFU TTEE
  		Trust   371,106 62.810 %
(6) WFU - 6 CRUT
PO Box 7201
WinstonSalem,NC27109
56-6473036 		Investment NC WFU TTEE
  		Trust   162,201 62.810 %
(7) WFU - 6 CRUT
PO Box 7201
WinstonSalem,NC27109
58-2175582 		Investment NC WFU TTEE
  		Trust   34,398 62.900 %
(8) WFU - 65 CRUT
PO Box 7201
WinstonSalem,NC27109
56-6476872 		Investment NC WFU TTEE
  		Trust   123,348 50.230 %
(9) WFU - 7 CRUT
PO Box 7201
WinstonSalem,NC27109
91-2129902 		Investment NC WFU TTEE
  		Trust   389,825 55.100 %
(10) WFU - 8 CRUT
PO Box 7201
WinstonSalem,NC27109
91-2131579 		Investment NC WFU TTEE
  		Trust   65,844 70.580 %
(11) WFU - 5 CRUT
PO Box 7201
WinstonSalem,NC27109
56-6562122 		Investment NC WFU TTEE
  		Trust   51,160 62.110 %
Schedule R (Form 990) 2010
Schedule R (Form 990) 2010
Page 3
Part V
Transactions With Related Organizations (Complete if the organization answered "Yes" on Form 990, Part IV, line 34, 35, 35A, or 36.)
Note. Complete line 1 if any entity is listed in Parts II, III or IV.
Yes
No
1 During the tax year, did the orgranization engage in any of the following transactions with one or more related organizations listed in Parts II-IV?
a Receipt of (i) interest (ii) annuities (iii) royalties (iv) rent from a controlled entity . . . . . . . . . . . . . . . . . . . . . . .
1a
 
No
b Gift, grant, or capital contribution to other organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1b
Yes
 
c Gift, grant, or capital contribution from other organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1c
Yes
 
d Loans or loan guarantees to or for other organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1d
Yes
 
e Loans or loan guarantees by other organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1e
 
No
f Sale of assets to other organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1f
 
No
g Purchase of assets from other organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1g
 
No
h Exchange of assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1h
 
No
i Lease of facilities, equipment, or other assets to other organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1i
 
No
j Lease of facilities, equipment, or other assets from other organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . .
1j
 
No
k Performance of services or membership or fundraising solicitations for other organization(s) . . . . . . . . . . . . . . . . . . . . . .
1k
 
No
l Performance of services or membership or fundraising solicitations by other organization(s) . . . . . . . . . . . . . . . . . . . . . .
1l
 
No
m Sharing of facilities, equipment, mailing lists, or other assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1m
 
No
n Sharing of paid employees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1n
Yes
 
o Reimbursement paid to other organization for expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1o
Yes
 
p Reimbursement paid by other organization for expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1p
Yes
 
q Other transfer of cash or property to other organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1q
 
No
r Other transfer of cash or property from other organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1r
 
No
2
If the answer to any of the above is "Yes," see the instructions for information on who must complete this line, including covered relationships and transaction thresholds.
(a)
Name of other organization 		(b)
Transaction
type(a-r) 		(c)
Amount involved 		(d)
Method of determining amount involved
(1) Third Ave Emrg Mkt Fd LP

 b 10,000,000 Cash invested
(2) Reynolda House Inc

 b 450,000 GeneralSupport
(3) Wake Forest University Development Fndn

 n 55,373 FMV
(4) Wake Forest University Development Fndn

 c 60,464 Cash Transfer
(5) Wake Forest University Health Sciences

 p 8,938,685 Cash Transfer
(6) Wake Forest University Health Sciences

 o 3,948,971 Cash Transfer
(7) Wake Forest University Foundation

 n 93,104 FMV
(8) Wake Forest University Foundation

 d 1,261,033 Cash Transfer
Schedule R (Form 990) 2010
Schedule R (Form 990) 2010
Page 4
Part VI
Unrelated Organizations Taxable as a Partnership (Complete if the organization answered "Yes" on Form 990, Part IV, line 37.)
Provide the following information for each entity taxed as a partnership through which the organization conducted more than five percent of its activities (measured by total assets or gross revenue) that was not a related organization. See instructions regarding exclusion for certain investment partnerships.
(a)
Name, address, and EIN of entity 		(b)
Primary activity 		(c)
Legal domicile
(state or foreign
country) 		(d)
Are all
partners
section
501(c)(3)
organizations? 		(e)
Share of
end-of-year
assets 		(f)
Disproprtionate allocations? 		(g)
Code V—UBI
amount in box
20 of Schedule K-1
(Form 1065) 		(h)
General or
managing
partner?
Yes No Yes No Yes No






























Schedule R (Form 990) 2010
Schedule R (Form 990) 2010
Page 5
Part VII
Supplemental Information
Complete this part to provide additional information for responses to questions on Schedule R (see instructions).
Identifier Return Reference Explanation
Additional Data


Software ID: 10000105
Software Version: 2010v3.2