Form990
Click to see list of attachments
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 private foundations)
MediumBullet Do not enter Social Security numbers on this form as it may be made public. By law, the IRS
generally cannot redact the information on the form.
MediumBullet Information about Form 990 and its instructions is at www.IRS.gov/form990.
OMB No. 1545-0047
2013
Open to Public Inspection
A For the 2013 calendar year, or tax year beginning 07-01-2013 , 2013, and ending 06-30-2014
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 province, country, and ZIP or foreign postal code
WINSTONSALEM, NC27109
D Employer identification number

56-0532138
E Telephone number

G Gross receipts $ 946,700,829
F Name and address of principal officer:
B Hofler Milam
P O Box 7226
WinstonSalem,NC27109
I
Tax-exempt status: (   ) LeftBullet (insert no.) or
J
Website:MediumBullet
www.wfu.edu
H(a)
Is this a group return for
subordinates?
H(b)
Are all subordinates
included?
If "No," attach a list. (see instructions)
H(c)
Group exemption number MediumBullet  
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 Wake Forest College, a graduate school of arts and sciences, and four professional schools.
2 Check this box MediumBullet
3 Number of voting members of the governing body (Part VI, line 1a) ........ 3 47
4 Number of independent voting members of the governing body (Part VI, line 1b) ..... 4 38
5 Total number of individuals employed in calendar year 2013 (Part V, line 2a) ...... 5 5,774
6 Total number of volunteers (estimate if necessary) ............. 6 2,150
7a Total unrelated business revenue from Part VIII, column (C), line 12 ........ 7a 1,950,930
b Net unrelated business taxable income from Form 990-T, line 34 ......... 7b -1,567,949
Revenues Prior Year Current Year
8 Contributions and grants (Part VIII, line 1h) ......... 97,889,217 93,868,783
9 Program service revenue (Part VIII, line 2g) ......... 334,502,523 358,074,542
10 Investment income (Part VIII, column (A), lines 3, 4, and 7d ) .... 52,527,575 52,655,253
11 Other revenue (Part VIII, column (A), lines 5, 6d, 8c, 9c, 10c, and 11e) 11,888,226 11,648,431
12 Total revenue—add lines 8 through 11 (must equal Part VIII, column (A), line 12)................... 496,807,541 516,247,009
Expenses; 13 Grants and similar amounts paid (Part IX, column (A), lines 1–3 )... 86,754,953 92,885,819
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) 204,794,643 215,923,221
16a Professional fundraising fees (Part IX, column (A), line 11e)..... 933,332 1,496,917
b Total fundraising expenses (Part IX, column (D), line 25) MediumBullet22,310,934    
17 Other expenses (Part IX, column (A), lines 11a–11d, 11f–24e).... 122,057,141 141,042,088
18 Total expenses. Add lines 13–17 (must equal Part IX, column (A), line 25) 414,540,069 451,348,045
19 Revenue less expenses. Subtract line 18 from line 12....... 82,267,472 64,898,964
Net Assets or Fund Balances; Beginning of Current Year End of Year
20 Total assets (Part X, line 16)............. 1,447,663,313 1,503,979,756
21 Total liabilities (Part X, line 26)............. 472,631,456 428,968,742
22 Net assets or fund balances. Subtract line 21 from line 20..... 975,031,857 1,075,011,014
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 Use Only
Print/Type preparer's name
Preparer's signature
Date
PTIN
Firm's name MediumBullet

Firm's EIN MediumBullet
Firm's address MediumBullet



Phone no.
May the IRS discuss this return with the preparer shown above? (see instructions) ............
For Paperwork Reduction Act Notice, see the separate instructions.
Cat. No. 11282Y
Form 990 (2013)
Form 990 (2013)
Page 2
Part III
Statement of Program Service Accomplishments
Check if Schedule O contains a response or note to any line 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 six constituent parts: Wake Forest College; the Graduate School of Arts and Sciences; the School of Law; the School of Medicine; the School of Business; 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 organization’s program service accomplishments for each of its three largest program services, as measured by expenses. Section 501(c)(3) and 501(c)(4) organizations 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 $ 197,924,550 including grants of $ 76,801,375 ) (Revenue $ 281,712,789 )
Instruction of approximately 7,232 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 Center for Global Programs and Studies manages the student exchange and study abroad programs, with visiting students from 51 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. 64.2% of the graduate and undergraduate student population received financial aid awards. Approximately 4,480 students received scholarships or grants from the institution during the year.
4b (Code:   ) (Expenses $ 105,123,490 including grants of $ 13,672,763 ) (Revenue $ 83,751,563 )
Wake Forest maintains campus bookstores, housing and dining facilities, mail services and other program services, including Athletics. Athletic scholarships provided funding for 286 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 $ 55,328,845 including grants of $ 678,070 ) (Revenue $ 1,908,497 )
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 $ 21,710,740 including grants of $ 1,733,611 ) (Revenue $ 8,994,510 )
4e Total program service expensesMediumBullet380,087,625
Form 990 (2013)
Form 990 (2013)
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 (see instructions)? 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, or have a section 501(h) election in effect during the tax year? 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 for which 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
 
No
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 for escrow or custodial account liability; 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 temporarily restricted endowments, permanent endowments, 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, line 10?
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 VIIClick 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 VIIIClick 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 IXClick 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 XClick 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 XClick 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 and XII 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 and XII 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, investment, and program service activities outside the United States, or aggregate foreign investments valued at $100,000 or more? If "Yes," complete Schedule F, Parts I and IV......... 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 other assistance to or for any foreign organization? If “Yes,” complete Schedule F, Parts II and IVClick 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 other assistance to or for foreign individuals? If “Yes,” complete Schedule F, Parts III and IV... 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 I (see instructions).... Click 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
20a
Did the organization operate one or more hospital facilities? If "Yes," complete Schedule H....
20a
 
No
b
If "Yes" to line 20a, did the organization attach a copy of its audited financial statements to this return?
20b
 
 
Form 990 (2013)
Form 990 (2013)
Page 4
Part IV
Checklist of Required Schedules (continued)
21
Did the organization report more than $5,000 of grants or other assistance to any domestic organization or government 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 or 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, line 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 lines 24b through 24d and complete Schedule K. If “No,” go to line 25a................ Click to see attachment
24a
Yes
 
b
Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?...
24b
Yes
 
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
Did the organization report any amount on Part X, line 5, 6, or 22 for receivables from or payables to any current or former officers, directors, trustees, key employees, highest compensated employees, or disqualified persons? If so, 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 employee thereof, a grant selection committee member, or to a 35% controlled entity or family member of any of these persons? If "Yes," complete Schedule L, Part III......... Click to see attachment
27
Yes
 
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
 
No
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 direct or indirect 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 M..Click 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
Yes
 
31
Did the organization liquidate, terminate, or dissolve and cease operations? If "Yes," complete Schedule N,
Part I...........................
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, Part II, III, or IV, and Part V, line 1........................ Click to see attachment
34
Yes
 
35a
Did the organization have a controlled entity within the meaning of section 512(b)(13)?
35a
Yes
 
b
If ‘Yes’ to line 35a, 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
35b
Yes
 
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 11b and 19? Note. All Form 990 filers are required to complete Schedule O. ............
38
Yes
 
Form 990 (2013)
Form 990 (2013)
Page 5
Part V
Statements Regarding Other IRS Filings and Tax Compliance
Check if Schedule O contains a response or note to any line in this Part V ..............
Yes
No
1a
Enter the number reported in Box 3 of Form 1096 Enter -0- if not applicable ..
1a
10,127
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
5,774
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” to line 3b, provide an explanation in Schedule O...
3b
 
 
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, securities account, or other financial account)?..........................
4a
Yes
 
b
If "Yes," enter the name of the foreign country: MediumBulletOC
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
 
 
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 as charitable contributions?...
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
 
 
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
1
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. See the instructions for additional information the organization must report on Schedule O.
13a
 
No
b
Enter the 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 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 (2013)
Form 990 (2013)
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 or note to any line 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
47
If there are material differences in voting rights among members of the governing body, or if the governing body delegated broad authority to an executive committee or similar committee, explain in Schedule O.
b
Enter the number of voting members included in line 1a, above, who are independent ...................
1b
38
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
Yes
 
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
Did the organization have members or stockholders? ................
6
 
No
7a
Did the organization have members, stockholders, or other persons who had the power to elect or appoint one or more members of the governing body? ....................
7a
 
No
b
Are any governance decisions of the organization reserved to (or subject to approval by) members, stockholders, or persons other than the governing body? ...................
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
Did the organization have local chapters, branches, or affiliates? ............
10a
 
No
b
If "Yes," did the organization have written policies and procedures governing the activities of such chapters, affiliates, and branches to ensure their operations are consistent with the organization's exempt purposes?
10b
 
 
11a
Has the organization provided a complete 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 this Form 990. .....
12a
Did the organization have a written conflict of interest policy? If "No," go to line 13.......
12a
Yes
 
b
Were officers, directors, or trustees, and key employees required to disclose annually interests that could give rise to conflicts? ..........................
12b
Yes
 
c
Did the organization regularly and consistently monitor and enforce compliance with the policy? If "Yes," describe in Schedule O how this was done.......................
12c
Yes
 
13
Did the organization have a written whistleblower policy? ...............
13
Yes
 
14
Did 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 15a or 15b, 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
Yes
 
b
If "Yes," did the organization follow a written policy or procedure requiring the organization to evaluate its participation in joint venture arrangements under applicable federal tax law, and take steps to safeguard the organization’s exempt status with respect to such arrangements? ............
16b
Yes
 
Section C. Disclosure
17
List the States with which a copy of this Form 990 is required to be filedMediumBullet
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 made these available. Check all that apply.
19
Describe in Schedule O whether (and if so, how) the organization made its governing documents, conflict of interest policy, and financial statements available to the public during the tax year.
20
State the name, physical address, and telephone number of the person who possesses the books and records of the organization:
MediumBulletBrandon E GillilandPO BOX 7201WINSTONSALEMNC27109 (336) 758-5233
Form 990 (2013)
Form 990 (2013)
Page 7
Part VII
Compensation of Officers, Directors,Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
Check if Schedule O contains a response or note to any line 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. 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 organization compensated any current officer, director, or trustee.
(A)
Name and Title 		(B)
Average hours per week (list any hours for related organizations below dotted line) 		(C)
Position (do not check more than one box, unless person is both an officer and a director/trustee) 		(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; OfficerInd; Key Employee; Highest compensated employee; FormerOfcrDirectorTrusteeInd;
(1) Jeanne Whitman Bobbitt........................................................................
Trustee
 3.00
.......................0.00 		X           0 0 0
(2) Ranlet S Bell........................................................................
Committee Chair
 4.00
.......................0.00 		X           0 0 0
(3) W Louis Bissette Jr........................................................................
Committee Chair
 4.00
........................20 		X           0 0 0
(4) Shelmer D Blackburn Jr........................................................................
Comm Vice Chair
 3.00
.......................2.00 		X           0 0 0
(5) Donna A Boswell PhD........................................................................
Board ViceChair
 6.00
.......................16.20 		X           0 0 0
(6) Peter C Brockway........................................................................
Committee Chair
 4.00
.......................1.20 		X           0 0 0
(7) Thomas W Bunn........................................................................
Trustee
 4.00
.......................0.00 		X           0 0 0
(8) Jocelyn Burton........................................................................
Trustee
 3.00
.......................0.00 		X           0 0 0
(9) John I Bitove Jr........................................................................
Trustee
 4.00
.......................1.00 		X           0 0 0
(10) Daniel M Delen........................................................................
Comm Vice Chair
 3.00
........................20 		X           0 0 0
(11) David W Dupree........................................................................
Committee Chair
 6.00
.......................2.20 		X           0 0 0
(12) Thomas A Dingledine........................................................................
Trustee
 3.00
.......................0.00 		X           0 0 0
(13) Lisbeth Clark Evans........................................................................
Trustee
 3.00
........................20 		X           0 0 0
(14) Lelia J Farr........................................................................
Comm Vice Chair
 3.00
........................20 		X           0 0 0
(15) Curtis C Farmer........................................................................
Trustee
 3.00
.......................0.00 		X           0 0 0
(16) Mary R Farrell........................................................................
Trustee
 3.00
.......................0.00 		X           0 0 0
(17) Donald E Flow........................................................................
Board Chairman
 12.00
.......................6.00 		X           0 0 0
Form 990 (2013)
Form 990 (2013)
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 (list any hours for related organizations below dotted line) 		(C)
Position (do not check more than one box, unless person is both an officer and a director/trustee) 		(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; OfficerInd; Key Employee; Highest compensated employee; FormerOfcrDirectorTrusteeInd;
(18) Kathleen Brelsford French MD........................................................................
Trustee
 3.00
.......................2.00 		X           0 0 0
(19) James R Helvey III........................................................................
Trustee
 4.00
.......................4.00 		X           0 0 0
(20) Frank B Holding Jr........................................................................
Trustee
 4.00
.......................0.00 		X           0 0 0
(21) Lawrence D Hopkins MD........................................................................
Trustee
 3.00
.......................37.00 		X           0 293,562 30,482
(22) Alice Kirby Horton........................................................................
Trustee
 3.00
.......................0.00 		X           0 0 0
(23) Albert R Hunt........................................................................
Trustee
 3.00
.......................0.00 		X           0 0 0
(24) Matthew A King........................................................................
Committee Chair
 4.00
.......................3.00 		X           0 0 0
(25) John R Lowden........................................................................
Trustee
 3.00
........................20 		X           0 0 0
(26) James J Marino........................................................................
Comm Vice Chair
 3.00
.......................2.00 		X           0 0 0
(27) John M McAvoy........................................................................
Trustee
 3.00
.......................0.00 		X           0 0 0
(28) Frederick W Eubank II........................................................................
Comm Vice Chair
 5.00
.......................0.00 		X           0 0 0
(29) Kenneth D Miller........................................................................
Trustee
 3.00
........................20 		X           0 0 0
(30) Wade W Murphy........................................................................
Trustee
 3.00
.......................0.00 		X           0 0 0
(31) L Steven Nelson........................................................................
Trustee
 3.00
.......................0.00 		X           0 0 0
(32) Ogden Phipps II........................................................................
Trustee
 3.00
.......................0.00 		X           0 0 0
(33) Michael G Queen........................................................................
Comm Vice Chair
 3.00
.......................0.00 		X           0 0 0
(34) Gerald F Roach........................................................................
Committee Chair
 4.00
.......................5.20 		X           0 0 0
(35) Harold O Rosser........................................................................
Committee Chair
 4.00
........................20 		X           0 0 0
(36) Deborah K Rubin........................................................................
Committee Chair
 3.00
.......................0.00 		X           0 0 0
(37) Andrew J Schindler........................................................................
Trustee
 3.00
.......................6.00 		X           0 0 0
(38) Mitesh B Shah........................................................................
Board ViceChair
 6.00
.......................2.20 		X           0 0 0
(39) Janice K Story........................................................................
Comm Vice Chair
 3.00
.......................0.00 		X           0 0 0
(40) Lloyd P Tate Jr........................................................................
Trustee
 3.00
.......................1.00 		X           0 0 0
(41) Cathy Wall Thomas MD........................................................................
Trustee
 3.00
.......................0.00 		X           0 0 0
(42) David I Wahrhaftig........................................................................
Committee Chair
 5.00
........................20 		X           0 0 0
(43) Adelaide A Sink........................................................................
Trustee
 4.00
.......................1.20 		X           0 0 0
(44) Benjamin C Sutton Jr........................................................................
Trustee
 3.00
.......................1.00 		X           0 0 0
(45) John M Vann........................................................................
Trustee
 3.00
.......................0.00 		X           0 0 0
(46) Seth H Waugh........................................................................
Trustee
 3.00
.......................0.00 		X           0 0 0
(47) Jay G Sehgal........................................................................
Trustee
 3.00
.......................0.00 		X           4,441 0 0
(48) Nathan O Hatch PhD........................................................................
President
 29.00
.......................11.00 		    X       1,018,765 0 389,496
(49) J Reid Morgan........................................................................
Sec & Gen Cnsl
 19.70
.......................20.30 		    X       468,408 0 94,436
(50) John D McConnell MD........................................................................
ExecVP HlthAff
 2.00
.......................38.00 		    X       0 1,019,933 732,938
(51) B Hofler Milam........................................................................
Sr.VP & CFO
 38.50
.......................1.50 		    X       453,958 0 143,482
(52) James J Dunn........................................................................
Chf Inv Officer
 29.70
.......................10.30 		    X       696,077 0 113,253
(53) Anita M Conrad........................................................................
Asst Secretary
 20.00
.......................20.00 		    X       160,206 0 30,855
(54) Rogan Kersh PhD........................................................................
Provost
 40.00
.......................0.00 		    X       488,852 0 115,702
(55) Jacquelyn S Fetrow PhD........................................................................
Dean, Wake Forest College
 40.00
.......................0.00 		      X     278,306 0 31,874
(56) Ronald D Wellman........................................................................
Director of Athletics
 40.00
.......................0.00 		      X     731,730 0 307,519
(57) Steven S Reinemund........................................................................
Dean, School of Business
 40.00
.......................0.00 		      X     399,702 0 45,906
(58) Mark A Petersen........................................................................
VP - Advancement
 40.00
.......................0.00 		      X     459,162 0 101,443
(59) Jim B Grobe........................................................................
Football Coach
 40.00
.......................0.00 		        X   2,205,313 0 51,609
(60) Andrew R Chan........................................................................
VP Career Develop.
 40.00
.......................0.00 		        X   377,554 0 100,408
(61) Jeffrey Bzdelik........................................................................
Basketball Coach
 40.00
.......................0.00 		        X   1,392,545 0 50,918
(62) Blake D Morant........................................................................
Dean, Sch of Law
 40.00
.......................0.00 		        X   386,378 0 47,972
(63) Ajay Patel PhD........................................................................
Prof, Sch of Busns
 40.00
.......................0.00 		        X   368,383 0 74,301
(64) Mark E Welker PhD........................................................................
Former Interim Provost
 40.00
.......................0.00 		          X 208,812 0 39,414
(65) Craig O Thomas........................................................................
Former Asst Treas
 40.00
.......................0.00 		          X 224,773 0 80,892
1b Sub-Total................MediumBullet
c Total from continuation sheets to Part VII, Section A....MediumBullet
d Total (add lines 1b and 1c)............MediumBullet 10,323,365 1,313,495 2,582,900
2
Total number of individuals (including but not limited to those listed above) who received more than $100,000 of reportable compensation from the organizationMediumBullet391
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. Report compensation for the calendar year ending with or within the organization’s tax year.
(A)
Name and business address 		(B)
Description of services 		(C)
Compensation
Frank L Blum Construction Company830 25th St NEWinstonSalemNC27105 Construction 20,567,955
Aramark Campus Services1101 Market St 12th FlPhiladelphiaPA19107 Food Service 18,217,769
EBSCO Subscription Service6800 Versar Center Ste 131SpringfieldVA22151 Subscr mgmt for libr 2,672,651
IL Long Construction Co IncPO Box 4186WinstonSalemNC27115 Construction 3,364,540
AC Corporation301 Creek Ridge RoadGreensboroNC27406 Mech & elec services 2,877,189
2
Total number of independent contractors (including but not limited to those listed above) who received more than $100,000 of compensation from the organization MediumBullet124
Form 990 (2013)
Form 990 (2013)
Page 9
Part VIII
Statement of Revenue
Check if Schedule O contains a response or note to any line in this Part VIII .............
(A)
Total revenue 		(B)
Related or
exempt
function
revenue 		(C)
Unrelated
business
revenue 		(D)
Revenue
excluded from
tax under sections
512-514
Contributions, Gifts, GrantAmt and OtherAmt Similar Amounts 1a Federated campaigns..1a  
b Membership dues....1b  
c Fundraising events....1c 1,022,412
d Related organizations...1d 66,895
e Government grants (contributions)1e 8,994,510
f All other contributions, gifts, grants, and
similar amounts not included above1f 		83,784,966
g Noncash contributions included in lines
1a-1f:$ 		13,637,292
h Total. Add lines 1a-1f.......MediumBullet 93,868,783
Program Service RevenueAmt Business Code
2a Athletic Programs 711210 26,802,954 25,354,912   1,448,042
b Organized Activities 515100 4,397,772 3,800,027 11,365 586,380
c Student Housing & Dining 721310 37,739,503 37,739,503    
d Telecom & Other Services 611710 2,837,143 2,346,033   491,110
e Tuition and Fees 611310 281,712,789 281,712,789    
f All other program service revenue . 4,584,381 3,336,588 625,480 622,313
g Total. Add lines 2a–2f........MediumBullet 358,074,542
OtherAmt RevenueAmt 3 Investment income (including dividends, interest, and other similar amounts).......MediumBullet 20,206,613   -2,740,423 22,947,036
4 Income from investment of tax-exempt bond proceeds..MediumBullet 0      
5 Royalties...........MediumBullet 2,193,337     2,193,337
(i) Real (ii) Personal
6a Gross rents 9,074,680  
b Less: rental expenses 6,641,384  
c Rental income or (loss) 2,433,296  
d Net rental income or (loss).......MediumBullet 2,433,296     2,433,296
(i) Securities (ii) Other
7a Gross amount from sales of assets other than inventory 454,455,000  
b Less: cost or other basis and sales expenses 422,006,360  
c Gain or (loss) 32,448,640  
d Net gain or (loss)..........MediumBullet 32,448,640     32,448,640
8a Gross income from fundraising events (not including
$ 1,022,412
of contributions reported on line 1c). See Part IV, line 18 ..
a 43,725
b Less: direct expenses ...b 126,897
c Net income or (loss) from fundraising events..MediumBullet -83,172   -83,172
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 8,141,005
b Less: cost of goods sold ..b 1,679,179
c Net income or (loss) from sales of inventory..MediumBullet 6,461,826   3,411,364 3,050,462
Miscellaneous Revenue Business Code
11a Athletic Advertising 541800 33,592   33,592  
b Tennis Club 713940 177,222   177,222  
c Winston-Salem Tennis Cup 711210 432,330   432,330  
d All other revenue ....        
e Total. Add lines 11a–11d ...... MediumBullet 643,144
12 Total revenue. See Instructions......MediumBullet 516,247,009 354,289,852 1,950,930 66,137,444
Form 990 (2013)
Form 990 (2013)
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).Check if Schedule O contains a response or note to any line in this Part IX ...............
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 United States. See Part IV, line 21 1,711,709 1,711,709
2 Grants and other assistance to individuals in the United States. See Part IV, line 22 90,340,496 90,340,496
3 Grants and other assistance to governments, organizations, and individuals outside the United States. See Part IV, lines 15 and 16 833,614 833,614
4 Benefits paid to or for members 0  
5 Compensation of current officers, directors, trustees, and key employees .... 5,343,594 1,033,985 3,057,410 1,252,199
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 165,739,485 140,081,533 15,458,698 10,199,254
8 Pension plan accruals and contributions (include section 401(k) and 403(b) employer contributions) .... 13,344,911 10,975,385 1,464,063 905,463
9 Other employee benefits ....... 19,659,186 14,290,958 3,965,641 1,402,587
10 Payroll taxes ........... 11,836,045 9,734,434 1,298,526 803,085
11 Fees for services (non-employees):        
a Management ...... 0      
b Legal ......... 404,463 194,559 209,904  
c Accounting ........... 192,599 7,839 184,760  
d Lobbying ........... 0      
e Professional fundraising services. See Part IV, line 17 1,496,917 1,496,917
f Investment management fees ...... 11,593,933 6,069,328 5,524,605  
g Other (If line 11g amount exceeds 10% of line 25, column (A) amount, list line 11g expenses on Schedule O) ........ 15,178,795 9,535,974 4,436,755 1,206,066
12 Advertising and promotion .... 5,688,634 3,959,288 271,759 1,457,587
13 Office expenses ....... 21,689,532 15,028,164 4,258,289 2,403,079
14 Information technology ...... 5,005,426 1,496,251 3,474,943 34,232
15 Royalties .. 0      
16 Occupancy ........... 11,157,693 9,221,897 1,723,631 212,165
17 Travel ............ 11,388,934 10,468,766 146,888 773,280
18 Payments of travel or entertainment expenses for any federal, state, or local public officials ...... 0      
19 Conferences, conventions, and meetings .... 2,048,161 1,678,368 297,320 72,473
20 Interest ........... 11,982,426 11,982,426    
21 Payments to affiliates ....... 0      
22 Depreciation, depletion, and amortization ..... 29,909,758 29,909,758    
23 Insurance .............. 1,991,062 758,278 1,234,168 -1,384
24 Other expenses. Itemize expenses not covered above (List miscellaneous expenses in line 24e. If line 24e amount exceeds 10% of line 25, column (A) amount, list line 24e expenses on Schedule O.)
a Library, Books & Subscriptions 4,896,112 4,817,243 31,896 46,973
b Non Capital Equip & Furnishing 3,755,712 2,118,395 1,613,032 24,285
c Auxiliary Enterprises 3,356,743 3,348,593 2,668 5,482
d Miscellaneous 802,105 490,384 294,530 17,191
e All other expenses 0      
25 Total functional expenses. Add lines 1 through 24e 451,348,045 380,087,625 48,949,486 22,310,934
26 Joint costs. Complete this line only if the organization reported in column (B) joint costs from a combined educational campaign and fundraising solicitation. Check here MediumBullet if following SOP 98-2 (ASC 958-720).        
Form 990 (2013)
Form 990 (2013)
Page 11
Part X Balance Sheet Check if Schedule O contains a response or note to any line in this Part X ..............
(A)
Beginning of year 		(B)
End of year
Assets 1 Cash–non-interest-bearing .............   1 0
2 Savings and temporary cash investments ......... 99,519,463 2 39,697,289
3 Pledges and grants receivable, net ........... 86,076,804 3 103,474,989
4 Accounts receivable, net ............. 12,448,471 4 11,562,235
5 Loans and other receivables from current and former officers, directors, trustees, key employees, and highest compensated employees. Complete Part II of
Schedule L ..................
109,883 5 54,941
6 Loans and other receivables from other disqualified persons (as defined under section 4958(f)(1)), persons described in section 4958(c)(3)(B), and contributing employers and sponsoring organizations of section 501(c)(9) voluntary employees' beneficiary organizations (see instructions) Complete Part II of Schedule L
  6 0
7 Notes and loans receivable, net ............. 22,764,662 7 22,069,346
8 Inventories for sale or use .............. 616,537 8 645,912
9 Prepaid expenses and deferred charges .......... 1,892,199 9 4,923,215
10a Land, buildings, and equipment: cost or other basis. Complete Part VI of Schedule D 10a 777,377,083
b Less: accumulated depreciation ..... 10b 336,998,482 429,263,442 10c 440,378,601
11 Investments—publicly traded securities .......... 360,803,167 11 389,273,584
12 Investments—other securities. See Part IV, line 11 ..... 430,124,156 12 488,235,590
13 Investments—program-related. See Part IV, line 11 .....   13 0
14 Intangible assets ...............   14 0
15 Other assets. See Part IV, line 11 ........... 4,044,529 15 3,664,054
16 Total assets. Add lines 1 through 15 (must equal line 34)...... 1,447,663,313 16 1,503,979,756
Liabilities 17 Accounts payable and accrued expenses ......... 41,784,742 17 23,429,638
18 Grants payable ................. 9,827,117 18 9,688,229
19 Deferred revenue ................ 23,193,502 19 26,568,564
20 Tax-exempt bond liabilities ............. 155,545,000 20 150,500,000
21 Escrow or custodial account liability. Complete Part IV of Schedule D.. 444,955 21 403,623
22 Loans and other 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 .. 31,604,159 23 5,904,589
24 Unsecured notes and loans payable to unrelated third parties .... 125,000,000 24 125,000,000
25 Other liabilities (including federal income tax, payables to related third parties, and other liabilities not included on lines 17-24). Complete Part X of Schedule D.................... 85,231,981 25 87,474,099
26 Total liabilities. Add lines 17 through 25......... 472,631,456 26 428,968,742
Net Assets or Fund Balance Organizations that follow SFAS 117 (ASC 958), check here MediumBullet and complete lines 27 through 29, and lines 33 and 34.
27 Unrestricted net assets .............. 407,222,847 27 458,170,848
28 Temporarily restricted net assets ........... 336,724,317 28 362,247,638
29 Permanently restricted net assets ........... 231,084,693 29 254,592,528
Organizations that do not follow SFAS 117 (ASC 958), 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 ........... 975,031,857 33 1,075,011,014
34 Total liabilities and net assets/fund balances ........ 1,447,663,313 34 1,503,979,756
Form 990 (2013)
Form 990 (2013)
Page 12
Part XI
Reconcilliation of Net Assets
Check if Schedule O contains a response or note to any line in this Part XI ..............
1
Total revenue (must equal Part VIII, column (A), line 12) ............
1
516,247,009
2
Total expenses (must equal Part IX, column (A), line 25) ............
2
451,348,045
3
Revenue less expenses. Subtract line 2 from line 1 ..............
3
64,898,964
4
Net assets or fund balances at beginning of year (must equal Part X, line 33, column (A)) ..
4
975,031,857
5
Net unrealized gains (losses) on investments ...............
5
31,983,416
6
Donated services and use of facilities .................
6
 
7
Investment expenses .....................
7
 
8
Prior period adjustments .....................
8
 
9
Other changes in net assets or fund balances (explain in Schedule O) ........
9
3,096,777
10
Net assets or fund balances at end of year. Combine lines 3 through 9 (must equal Part X, line 33, column (B))
10
1,075,011,014
Part XII
Financial Statements and Reporting
Check if Schedule O contains a response or note to any line 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
If ‘Yes,’ check a box below to indicate whether the financial statements for the year were compiled or reviewed on a separate basis, consolidated basis, or both:
b
Were the organization’s financial statements audited by an independent accountant?
2b
Yes
 
If ‘Yes,’ check a box below to indicate whether the financial statements for the year were audited on a separate basis, consolidated basis, or both:
c
If "Yes," to line 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?
2c
Yes
 
If the organization changed either its oversight process or selection process during the tax year, explain in Schedule O.
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 (2013)
Form 990, Special Condition Description:
Special Condition Description
Additional Data


Software ID: 13000170
Software Version: 2013v4.0
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.
right arrow Information about Schedule A (Form 990 or 990-EZ) and its instructions is at www.irs.gov/form990.
OMB No. 1545-0047
2013
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 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
Provide the following information about the supported organization(s).
(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 monetary support
Yes No Yes No Yes No
Total  

For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990EZ.
Cat. No. 11285F
Schedule A (Form 990 or 990-EZ) 2013
Schedule A (Form 990 or 990-EZ) 2013
Page 2
Part II
Support Schedule for Organizations Described in Sections 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) right arrow (a) 2009 (b) 2010 (c) 2011 (d) 2012 (e) 2013 (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) right arrow (a) 2009 (b) 2010 (c) 2011 (d) 2012 (e) 2013 (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. Do not include gain or loss from the sale of capital assets (Explain in Part IV.)..            
11 Total support (Add lines 7 through 10).  
12
12
 
13
First five years. If the Form 990 is for the organization's first, second, third, fourth, or fifth tax year as a 501(c)(3) organization, check this box and stop here.................................................right arrow
Section C. Computation of Public Support Percentage
14
14
 
15
15
 
16a
b
17a
b
18
Private foundation. If the organization did not check a box on line 13, 16a, 16b, 17a, or 17b, check this box and see
instructions ..................................................... right arrow
Schedule A (Form 990 or 990-EZ) 2013
Schedule A (Form 990 or 990-EZ) 2013
Page 3
Part III
Support Schedule for Organizations Described in Section 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) right arrow (a) 2009 (b) 2010 (c) 2011 (d) 2012 (e) 2013 (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) right arrow (a) 2009 (b) 2010 (c) 2011 (d) 2012 (e) 2013 (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) 2013
Schedule A (Form 990 or 990-EZ) 2013
Page 4
Part IV
Supplemental Information. Provide the explanations required by Part II, line 10; Part II, line 17a or 17b; and 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) 2013

Additional Data


Software ID: 13000170
Software Version: 2013v4.0
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.
Arrow Bullet Information about Schedule B (Form 990, 990-EZ, or 990-PF) and its instructions is at www.irs.gov/form990.
OMB No. 1545-0047
2013
Name of the 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 on line H of its
Form 990-EZ or on its Form 990PF, Part I, line 2, 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) (2013)

Schedule B (Form 990, 990-EZ, or 990-PF) (2013)
Page 2
Name of organization
WAKE FOREST UNIVERSITY
  		Employer identification number

56-0532138
Part I
Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
RESTRICTED
RESTRICTED
 

   
RESTRICTED
RESTRICTED
RESTRICTED, RESTRICTEDRESTRICTED

$RESTRICTED


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 

   
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 

   
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 

   
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 

   
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 

   
 
 

$  


(Complete Part II for noncash contributions.)
Schedule B (Form 990, 990-EZ, or 990-PF) (2013)

Schedule B (Form 990, 990-EZ, or 990-PF) (2013)
Page 3
Name of organization
WAKE FOREST UNIVERSITY
  		Employer identification number

56-0532138
Part II
Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
(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) (2013)

Schedule B (Form 990, 990-EZ, or 990-PF) (2013)
Page 4
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
that total 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 $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet$  
Use duplicate copies of Part III if additional space is needed.
(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) (2013)

Additional Data


Software ID: 13000170
Software Version: 2013v4.0
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.SchCMd Bullet Information about Schedule C (Form 990 or 990-EZ) and its instructions is at www.irs.gov/form990.
OMB No. 1545-0047
2013
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 35c (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 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 function 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 Paperwork Reduction Act Notice, see the instructions for Form 990 or 990-EZ.
Cat. No. 50084S
Schedule C (Form 990 or 990-EZ) 2013

Schedule C (Form 990 or 990-EZ) 2013
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 SchCMd Bulletexpenses, and share of excess lobbying expenditures).
B Check SchCMd Bullet
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) 2010 (b) 2011 (c) 2012 (d) 2013 (e) Total
2a Lobbying nontaxable amount          
b Lobbying ceiling amount
(150% of line 2a, column(e)) 		 
c Total lobbying expenditures          
d Grassroots nontaxable amount          
e Grassroots ceiling amount
(150% of line 2d, column (e))		  
f Grassroots lobbying expenditures          
Schedule C (Form 990 or 990-EZ) 2013


Schedule C (Form 990 or 990-EZ) 2013
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)).
For each "Yes" response to lines 1a through 1i below, provide in Part IV a detailed description of the lobbying activity.
(a)
No
Yes
(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? ..........................
 
No
 
j
Total. Add 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 carry over 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) and if either (a) BOTH Part III-A, lines 1 and 2, are answered "No" OR (b) Part III-A, line 3, is answered “Yes."
1
Dues, assessments and similar amounts from members .....................
1
 
2
Section 162(e) nondeductible 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
Provide the descriptions required for Part l-A, line 1; Part l-B, line 4; Part l-C, line 5; Part II-A (affiliated group list); Part II-A, line 2; and Part ll-B, line 1. Also, complete this part for any additional information.
Return Reference Explanation
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 filing organization's employees will sometimes make direct contact 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, but because of the preponderance of current Health Care legislation, the Government Relations Office of the filing organization's subsidiary spent less time during the tax year on purely educational issues of greatest relevance to the filing organization. At the state level, efforts included legislation to delay the expiration of the Historic Mill Restoration Tax Credit for the Wake Forest Innovation Quarter Research Park in downtown Winston-Salem.
Schedule C (Form 990 or 990EZ) 2013

Additional Data


Software ID: 13000170
Software Version: 2013v4.0

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, 11a, 11b, 11c, 11d, 11e, 11f, 12a, or 12b
SchDMd Bullet Attach to Form 990. SchDMd Bullet See separate instructions. SchDMd Bullet Information about Schedule D (Form 990) and its instructions is at www.irs.gov/form990.
OMB No. 1545-0047
2013
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 .........    
2 Aggregate contributions to (during year) ...    
3 Aggregate grants from (during year) .....    
4 Aggregate value at end of year ........    
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 can 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 through 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, and not on a historic structure listed in the National Register .................... 2d  
3
Number of conservation easements modified, transferred, released, extinguished, or terminated by the organization during
the tax 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 section 170(h)(4)(B)(ii)? .......................................
9
In Part XIII, 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 (ASC 958), 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 XIII, the text of the footnote to its financial statements that describes these items.
b
If the organization elected, as permitted under SFAS 116 (ASC 958), 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 (ASC 958) 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 Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 52283D
Schedule D (Form 990) 2013

Schedule D (Form 990) 2013
Page 2
Part III
Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets (continued)
3
Using the organization’s acquisition, 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 XIII.
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 XIII and complete the following table:
Amount
c Beginning balance ................................. 1c 478,654,600
d Additions during the year .............................. 1d 61,455,987
e Distributions during the year ............................. 1e 25,360,689
f Ending balance ................................... 1f 514,749,898
2a
Did the organization include an amount on Form 990, Part X, line 21? .....................
b
If "Yes," explain the arrangement in Part XIII. Check here if the explanation has been provided in Part XIII ........
Part V
Endowment Funds. Complete if the organization answered "Yes" to Form 990, Part IV, line 10.
(a)Current year (b)Prior year b (c)Two years back (d)Three years back (e)Four years back
1a Beginning of year balance .... 630,580,382 586,318,598 609,317,298 531,560,575 504,636,725
b Contributions ........ 18,658,098 34,222,614 4,406,986 37,795,637 4,856,562
c Net investment earnings, gains, and losses 61,345,143 39,951,119 5,771,784 70,599,050 53,342,647
d Grants or scholarships ..... 17,125,125 12,712,804 10,553,138 10,874,429 17,524,560
e Other expenditures for facilities
and programs ........ 		9,464,087 15,742,738 21,222,672 17,390,859 11,167,739
f Administrative expenses .... 1,561,785 1,456,407 1,401,660 2,372,676 2,583,060
g End of year balance ...... 682,432,627 630,580,382 586,318,598 609,317,298 531,560,575
2
Provide the estimated percentage of the current year end balance (line 1g, column (a)) held as:
a
Board designated or quasi-endowment SchDMd Bullet32.000 %
b
Permanent endowment SchDMd Bullet36.000 %
c
Temporarily restricted endowment SchDMd Bullet32.000 %
The percentages in lines 2a, 2b, and 2c should equal 100%.
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)
Yes
 
b
If "Yes" to 3a(ii), are the related organizations listed as required on Schedule R? .........
3b
Yes
 
4
Describe in Part XIII the intended uses of the organization's endowment funds.
Part VI
Land, Buildings, and Equipment. Complete if the organization answered 'Yes' to Form 990, Part IV, line 11a. See Form 990, Part X, line 10.
Description of property (a) Cost or other basis (investment) (b)Cost or other basis (other) (c) Accumulated depreciation (d) Book value
1a Land ................. 571,500 14,488,205 15,059,705
b Buildings ................ 54,625,994 409,693,865 152,551,840 311,768,019
c Leasehold improvements ............   168,933,024 112,491,543 56,441,481
d Equipment ................   111,349,608 70,471,261 40,878,347
e Other .................   17,714,887 1,483,838 16,231,049
Total. Add lines 1a through 1e. (Column (d) must equal Form 990, Part X, column (B), line 10(c).).......SchDMdBullet 440,378,601
Schedule D (Form 990) 2013

Schedule D (Form 990) 2013
Page 3
Part VII
Investments—Other Securities. Complete if the organization answered 'Yes' to Form 990, Part IV, line 11b. 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) must equal Form 990, Part X, col. (B) line 12.)Small Bullet 488,235,590
Part VIII
Investments—Program Related. Complete if the organization answered 'Yes' to Form 990, Part IV, line 11c. See Form 990, Part X, line 13.
(a) Description of investment (b) Book value (c) Method of valuation:
Cost or end-of-year market value








Total. (Column (b) must equal Form 990, Part X, col.(B) line 13.)Small Bullet  
Part IX
Other Assets. Complete if the organization answered 'Yes' to Form 990, Part IV, line 11d. See Form 990, Part X, line 15.
(a) Description (b) Book value








Total. (Column (b) must equal Form 990, Part X, col.(B) line 15.)...........Small Bullet  
Part X
Other Liabilities. Complete if the organization answered 'Yes' to Form 990, Part IV, line 11e or 11f. See Form 990, Part X, line 25.
1.(a) Description of liability (b) Book value
Federal income taxes  
Annuities payable 22,765,319
Bond premium 2,176,825
Other liabilities and deferral 47,274,326
Postretirement benefits 15,257,629





Total. (Column (b) must equal Form 990, Part X, col.(B) line 25.)Small Bullet 87,474,099
2. Liability for uncertain tax positions In Part XIII, 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 (ASC 740). Check here if the text of the footnote has been provided in Part XIII ..................................................
Schedule D (Form 990) 2013

Schedule D (Form 990) 2013
Page 4
Part XI Reconciliation of Revenue per Audited Financial Statements With Revenue per Return Complete if the organization answered 'Yes' to Form 990, Part IV, line 12a.
1 Total revenue, gains, and other support per audited financial statements ....... 1 451,821,199
2 Amounts included on line 1 but not on Form 990, Part VIII, line 12:
a Net unrealized gains on investments .......... 2a 31,983,416
b Donated services and use of facilities ......... 2b  
c Recoveries of prior year grants ........... 2c  
d Other (Describe in Part XIII.) ............ 2d 8,798,951
e Add lines 2a through 2d ..................... 2e 40,782,367
3 Subtract line 2e from line 1..................... 3 411,038,832
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 8,863,269
b Other (Describe in Part XIII.) ........... 4b 96,344,908
c Add lines 4a and 4b....................... 4c 105,208,177
5 Total revenue. Add lines 3 and 4c. (This must equal Form 990, Part I, line 12.) ...... 5 516,247,009
Part XII Reconciliation of Expenses per Audited Financial Statements With Expenses per Return. Complete if the organization answered 'Yes' to Form 990, Part IV, line 12a.
1 Total expenses and losses per audited financial statements ........... 1 354,572,706
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 XIII.) ............ 2d 8,798,951
e Add lines 2a through 2d...................... 2e 8,798,951
3 Subtract line 2e from line 1..................... 3 345,773,755
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 8,863,269
b Other (Describe in Part XIII.) ............ 4b 96,711,021
c Add lines 4a and 4b....................... 4c 105,574,290
5 Total expenses. Add lines 3 and 4c. (This must equal Form 990, Part I, line 18.) ...... 5 451,348,045
Part XIII
Supplemental Information
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, line 2; Part XI, lines 2d and 4b; and Part XII, lines 2d and 4b. Also complete this part to provide any additional information.
Return Reference Explanation
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 $18 million.
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 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 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 V, Line 4: Intended uses of the endowment fund. Approximately 64.4% of the expendable endowment funds provided scholarships for Wake Forest University students during the fiscal year. 13.3% was distributed for department chair and faculty positions, including funds for research professorships. 18.8% supported educational programs generally, the libraries and general university operations. 3.5% 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 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 XI, Line 2d: Other revenue amounts included in F/S but not included on form 990 Rental Expenses $6641385 Cost of Goods Sold $1679179 Fundraising event expenses $126897 Other $351490
Part XI, Line 4b: Other revenue amounts included on 990 but not included in F/S Related party transfers In $206534 Scholarships net tuition on F/S $89861531 Allocations moved to net expense $3251498 Verger Tax Consolidation $2730664 Pledge allowance adjustment $195815 Other adjustments $98866
Part XII, Line 2d: Other expenses and losses per audited F/S Rental expenses $6641385 Cost of Goods Sold $1679179 Fundraising event expenses $126897 Other $351490
Part XII, Line 4b: Other revenue amounts included on 990 but not included in F/S Scholarship allowance $89861531 Allocations moved to net expense $3251498 Verger Tax Consolidation $2730664 Transactions with related parties $505649 Pledge allowance adjustment $195815 Other adjustments $165864
Schedule D (Form 990) 2013

Additional Data


Software ID: 13000170
Software Version: 2013v4.0




SCHEDULE E(Form 990 or 990-EZ)
Department of the Treasury
Internal 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.
Right pointing arrow large image Information about Schedule E (Form 990 or 990-EZ) and its instructions is at www.irs.gov/form990.
OMB No. 1545-0047
2013
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 or Form 990-EZ.
Cat. No. 50085D
Schedule E (Form 990 or 990-EZ) 2013
Schedule E (Form 990 or 990EZ) 2013
Page 2
Part II
Supplemental Information. 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).
Return Reference Explanation
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, 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 4 - Explanation of Records and Materials Not Maintained  
Schedule E, Line 5 - Explanation of Organization Discrimination by Race  
Schedule E (Form 990 or 990-EZ) 2013
Additional Data


Software ID: 13000170
Software Version: 2013v4.0
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.Right pointing arrow large image Information about Schedule F (Form 990) and its instructions is at www.irs.gov/form990.
OMB No. 1545-0047
2013
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 its grants and
other 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 its grants and other assistance outside the United States.
3
Activites per Region. (The following Part I, line 3 table can be duplicated if additional space is needed.)
(a) Region (b) Number of offices in the region (c) Number of employees, agents, and independent contractors in region (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 and investments
in region
Ctr America & Caribbean 1 13 Program Service Study Abroad 123,000
Ctr America & Caribbean 0 0 Program Service Services 12,765
Europe & North Atlantic 0 0 Program Service Publication Services 7,499
Europe & North Atlantic 0 0 Program Service Fundraising 7,500
East Asia & Pacific 0 0 Program Service Research 8,672
East Asia & Pacific 1 11 Program Service Study Abroad 749,809
Europe & North Atlantic 5 33 Program Service Study Abroad 3,020,747
Europe & North Atlantic 0 0 Program Service Conference 7,994
Europe & North Atlantic 0 0 Program Service Research 73,217
Mid East & N Africa 0 0 Program Service Study Abroad 24,297
Mid East & N Africa 0 0 Program Service Research 5,000
Sub-Saharan Africa 0 0 Program Service Investing Asset Review 3,044
North America 0 0 Program Service Conference 150
North America 0 0 Program Service Research 9,605
North America 0 0 Program Service Publication Services 686
Europe & North Atlantic 0 0 Program Service Recruiting 481
South America 0 0 Program Service Research 76,531
South America 0 0 Program Service Study Abroad 171,346
South Asia 0 0 Program Service Conference 200
South Asia 0 0 Program Service Study Abroad 124,262
Sub-Saharan Africa 0 0 Program Service Study Abroad 29,726
Sub-Saharan Africa 1 5 Program Service Research 50,497
East Asia & Pacific 0 0 Program Service Recruiting 7,995
Europe & North Atlantic 0 0 Program Service Services 38,980
Ctr America & Caribbean 0 0 Investment Book Value   3,850,000
Europe & North Atlantic 0 0 Investment Book Value   35,148,000
East Asia & Pacfic 0 0 Investment Book Value   101,762,000
Mid East & N Africa 0 0 Investment Book Value   6,927,000
North America 0 0 Investment Book Value   36,211,000
Russia & Ind Sts 0 0 Investment Book Value   2,814,000
South America 0 0 Investment Book Value   41,802,000
South Asia 0 0 Investment Book Value   5,720,000
Sub-Saharan Africa 0 0 Investment Book Value   18,343,000
South Asia 0 0 Program Service Research 6,819
South America 0 0 Program Services Conference 898
South America 0 0 Program Services Recruiting 2,700
Russia & the Newly Independent 0 0 Program Services Conference 970
Europe & North Atl. 0 0 Prog-Related Assets Book Value   2,818,748
Ctrl American & Carib. 0 0 Prog-Related Assets Book Value   1,636,497
3a Sub-total ..... 7 57 4,130,997
b Total from continuation sheets to Part I ... 1 5 257,466,638
c Totals (add lines 3a and 3b) 8 62 261,597,635
For Paperwork Reduction Act Notice, see the Instructions for Form 990.Cat. No. 50082W Schedule F (Form 990) 2013
Schedule F (Form 990) 2013
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. Part II can be duplicated 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 non-cash
assistance 		(h) Description
of non-cash
assistance 		(i) Method of
valuation
(book, FMV,
appraisal, other)
Europe & N Atla Research sub 10,313 Check      
Europe & N Atla Research Sub 21,656 Check      
Europe & N Atla Research Sub 5,039 Check      
Europe & N Atla Research Sub 5,751 Check      
Europe & N Atla Research Sub 6,500 Check      
North America Research Sub 7,489 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
6
3
Enter total number of other organizations or entities .......................MediumBullet
 
Schedule F (Form 990) 2013
Schedule F (Form 990) 2013Page 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.
Part III can be duplicated 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 Europe & N Atlant 5 13,534 Check/wire      
Student research grant South Asia 1 1,000 Check/wire      
               
               
               
               
               
               
               
               
               
               
               
               
               
               
               
               
Schedule F (Form 990) 2013
Schedule F (Form 990) 2013
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, Return by a U.S. Transferor of Property to a Foreign Corporation (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, Annual Return to Report Transactions with Foreign Trusts and Receipt of Certain Foreign Gifts, and/or Form 3520-A, Annual Information Return of Foreign Trust With a U.S. Owner (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, Information 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) 2013
Schedule F (Form 990) 2013
Page 5
Part V
Supplemental Information
Provide the information required by Part I, line 2 (monitoring of funds); Part I, line 3, column (f) (accounting method; amounts of investments vs. expenditures per region); Part II, line 1 (accounting method); Part III (accounting method); and Part III, column (c) (estimated number of recipients), as applicable. Also complete this part to provide any additional information (see instructions).
ReturnReference Explanation
Part I, Line 2 - Grantmakers Explanation For Monitoring Use of Funds Outside US 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) 2013
Additional Data


Software ID: 13000170
Software Version: 2013v4.0



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 arrowAttach to Form 990 or Form 990-EZ. right arrowSee separate instructions.
right arrowInformation about Schedule G (Form 990 or 990-EZ) and its instructions is at www.irs.gov/form990.
OMB No. 1545-0047
2013
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.
Form 990-EZ filers are not required to complete this part.
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.
(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
 
PW Feats
3 E Read St
 
Baltimore, MD21202 		Consulting   No   901,278  
 
Mary Tribble LL
400 N Church St
 
Charlotte, NC28202 		Consultant   No   123,910  
 
Silent R Prod
2749 Spring Gar
 
WinstonSa, NC27106 		Consultant-Film   No   118,100  
 
Verified Studio
3400 Croasdaile
 
Durham, NC27705 		Design Serv.   No   103,489  
Lawson Drinkard
PO Box 1645
 
Big Timber, MT59011 		Consulting   No   80,884  
Anne R Powell
61 Trowbridge
 
Belmont, MA02478 		Consultant   No   58,770  
Joel W Bowers
1920 Pacific Av
 
San Fran, CA94109 		Campaign Video   No   43,000  
 
Pentera Inc
8650 Commerce
 
Indianapol, IN46268 		Consultant   No   22,140  
 
Marts & Lundy
1200 Wall St
 
Lyndhurst, NJ07071 		Consulting   No   20,700  
 
Bluezoom Inc
230 S Elm St
 
Greensboro, NC27401 		Campaign Dev.   No   14,646  
Total .................right arrow   1,486,917  
3
List all states in which the organization is registered or licensed to solicit contributions or has been notified it is exempt from registration or licensing.
AL, AK, AZ, AR, CA, CO, CT, DE, FL, GA, HI, ID, IL, IN, IA, KS, LA, ME, MA, MI, MO, MS, MT, NE, NV, NH, NJ, NM, NC, NY, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, WI, WY, DC
For Paperwork Reduction Act Notice, see the Instructions for Form 990or 990-EZ.
Cat. No. 50083H
Schedule G (Form 990 or 990-EZ) 2013
Schedule G (Form 990 or 990-EZ) 2013
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 of fundraising event contributions and gross income on Form 990-EZ, lines 1 and 6b. List events with gross receipts greater than $5,000.
(a) Event #1

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

Athletics Dinner/Pro AM
(event type) 		(c) Other events

1
(total number) 		(d) Total events
(add col. (a) through col. (c))
VerticalRevenue 1 Gross receipts . . . 893,507 152,490 20,140 1,066,137
2 Less: Contributions . . 893,507 111,465 17,440 1,022,412
3 Gross income (line 1
minus line 2) . . . 		  41,025 2,700 43,725
VerticalDirectExpenses 4 Cash prizes . . .        
5 Noncash prizes . . 2,660 24,461 1,038 28,159
6 Rent/facility costs . .   8,520 7,421 15,941
7 Food and beverages . 798 14,382 11,547 26,727
8 Entertainment . . .        
9 Other direct expenses . 27,770 24,389 3,911 56,070
10 Direct expense summary. Add lines 4 through 9 in column (d) ........... right arrow 126,897
11 Net income summary. Subtract line 10 from line 3, column (d)........... right arrow -83,172
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. Subtract line 7 from line 1, 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:
 
Schedule G (Form 990 or 990-EZ) 2013
Schedule G (Form 990 or 990-EZ) 2013
Page 3
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? ..........................
13
Indicate the percentage of gaming activity operated in:
a
The organization's facility ......................
13a
%
b
An outside facility ........................
13b
%
14
Enter 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 of the third party:
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
Supplemental Information. Provide the explanations required by Part I, line 2b, columns (iii) and (v), and Part III, lines 9, 9b, 10b, 15b, 15c, 16, and 17b, as applicable. Also complete this part to provide any additional information (see instructions).
Return Reference Explanation
Schedule G (Form 990 or 990-EZ) 2013
Additional Data


Software ID: 13000170
Software Version: 2013v4.0
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
lBullet Information about Schedule I (Form 990) and its instructions is at www.irs.gov/form990.
OMB No. 1545-0047
2013
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. Part II can be duplicated if additional space is needed.
(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) Campus Crusade for Christ
C/O Joe Hanes 4380 Bolsom Rd
Pfafftown,NC27040 		95-6006173 501(c)(3) 10,000 0     Campus Ministry Contribution
(2) Carnegie Mellon University
PO Box 371032
Pittsburg,PA15250 		25-0969449 501(c)(3) 10,983 0     Research Subcontract
(3) Catholic University of Amer
620 Michigan Ave
Washington,DC20064 		53-0196583 501(c)(3) 12,782 0     Research Subcontract
(4) Clemson University
PO BOx 345714
Clemson,SC29634 		57-6000254 501(c)(3) 5,404 0     Research Subcontract
(5) East Carolina University
1001 East 5th Street
Greenville,NC27858 		56-6000403 115 6,517 0     Research Subcontract
(6) Forte Foundation
9600 Escarpment 745 PMB72
Austin,TX78749 		61-1457145 501(c)(3) 13,500 0     Contrib for Scholarship Opportunity
(7) Georgia Southern University
1332 Southern Drive
Statesboro,GA30458 		58-6002059 115 58,716 0     Research Subcontract
(8) Habitat For Humanity
339 Witt Street
WinstonSalem,NC27103 		56-1448955 501(c)(3) 32,500 0     Habitat House Sponsor
(9) Leadership Winston-Salem
501 N Cleveland Ave Suite 3
WinstonSalem,NC27101 		58-1574887 501(c)(3) 6,000 0     Sponsorship General Support
(10) Medical College of Wisconsin
8701 Watertown Plank Road
Milwaukee,WI53226 		39-0806261 501(c)(3) 27,506 0     Research Subcontract
(11) Northeastern University
360 Huntington Avenue
Boston,MA02115 		04-1679980 501(c)(3) 5,700 0     Research Subcontract
(12) Old Hickory Council BSA
6600 Silas Creek Parkway
WinstonSalem,NC27106 		56-0529985 501(c)(3) 12,500 0     Charitable Contribution
(13) Plant HS Athletics Foundation
2415 S Himes Avenue
Tampa,FL33629 		26-1947755 501(c)(3) 30,000 0     Charitable Contribution
(14) Reynolda House Inc
PO Box 7287
WinstonSalem,NC27109 		56-0810676 501(c)(3) 480,000 0     Operations Support
(15) RiverRun International Film
305 W Fourth Street
WinstonSalem,NC27101 		20-0254183 501(c)(3) 10,000 0     Sponsorship - General Support
(16) Slippery Rock University
1 Morrow Way
Slippery Rock,PA16057 		25-1513539 115 10,663 0     Research Subcontract
(17) Univ of Kentucky Research Fdn
301 Peterson Service Building
Lexington,KY48109 		61-6033693 501(c)(3) 7,963 0     Research Subcontract
(18) Univ of Tennessee Chattanooga
615 McCallie Ave
Chattanooga,TN37403 		62-6001636 115 8,740 0     Research Subcontract
(19) University of Arizona
1111 North Cherry Ave
Tucson,AZ85721 		74-2652689 115 19,713 0     Research Subcontract
(20) University of Michigan
3003 South State St
Ann Arbor,MI48109 		38-6006309 501(c)(3) 15,088 0     Research Subcontract
(21) University of Pennsylvania
3451 Walnut Street
Philadelphia,PA19104 		23-1352685 501(c)(3) 48,647 0     Research Subcontract
(22) University of Pittsburgh
116 Atwood Street
Pittsburgh,PA15251 		25-0965591 501(c)(3) 31,883 0     Research Subcontract
(23) University of Vermont
Botany Dept Marsh Sci Bldg
Burlington,VT05405 		03-0179440 115 6,120 0     Research Subcontract
(24) University of Virginia
580 Massie Rd
Charlottesville,VA22903 		54-6001796 115 5,606 0     Research Subcontract
(25) University of Washington
Gerberding Hall
Seattle,WA98195 		91-6001537 115 22,991 0     Research Subcontract
(26) Wake Forest Univ Health Scien
Medical Center Blvd
WinstonSalem,NC27157 		22-3849199 501(c)(3) 612,321 0     Research Subcontracts
(27) West Virginia University
886 Chestnut Ridge Rd
Morgantown,WV26506 		55-0665758 115 8,418 0     Research Subcontract
(28) Willamette University
900 State Street
Salem,OR97301 		93-0386972 501(c)(3) 13,047 0     Research Subcontract
(29) Winston Salem Business Inc
1080 W Fourth Street
WinstonSalem,NC27101 		51-0436665 501(c)(3) 10,000 0     Charitable Contribution
(30) YMCA of Northwest NC
301 N Main St Ste 1900
WinstonSalem,NC27101 		56-0530015 501(c)(3) 26,532 0     Research Subcontract
2
Enter total number of section 501(c)(3) and government organizations listed in the line 1 table ................ Bullet Image
30
3
Enter total number of other organizations listed in the line 1 table ........................ . Bullet Image
0
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50055P
Schedule I (Form 990) 2013

Schedule I (Form 990) 2013
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.
Part III can be duplicated 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) Departmental Scholarships 1538 1,852,471      
(2) Grants for Student Travel 205 185,261      
(3) General Tuition Scholarships 3291   71,756,257 Univ. charges Tuition discounts
(4) Tuition Concessions 163   5,034,451 Univ. charges Direct tuition payments
(5) Athletic Tuition Awards 286   10,369,754 Univ. charges Tuition discounts
(6) ROTC Scholarships 31 143,905      
(7) Athletic Room & Board 197 2,659,913      
(8) Study Abroad Scholarships 301 1,050,475 1,690,593 Univ. charges Direct tuition payments
(9) Third Party Scholarships 610 31,606 4,401,980 Univ. charges Direct tuition payments
Part IV
Supplemental Information. Provide the information required in Part I, line 2, Part III, column (b), and any other additional information.
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.Research subcontracts are awarded to qualifying research institutes able to complete research projects and monitored during such projects as well as by reviewing and collating the end results of the work.
Schedule I (Form 990) 2013


Additional Data


Software ID: 13000170
Software Version: 2013v4.0


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, line 23.
SchJMediumBullet Attach to Form 990. SchJMediumBullet See separate instructions.
SchJMediumBullet Information about Schedule J (Form 990) and its instructions is at www.irs.gov/form990.
OMB No. 1545-0047
2013
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 or provision of all of 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
directors, trustees, officers, including the CEO/Executive Director, regarding the items checked in line 1a? ..
2
Yes
 
3
Indicate which, if any, of the following the filing organization used to establish the compensation of the
organization's CEO/Executive Director. Check all that apply. Do not check any boxes for methods
used by a related organization to establish compensation of the CEO/Executive Director, but explain in Part III.
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
 
No
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 Regulations 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 Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50053T
Schedule J (Form 990) 2013

Schedule J (Form 990) 2013
Page 2
Part II
Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees. Use duplicate copies if additional space is 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) for each listed individual must equal the total amount of Form 990, Part VII, Section A, line 1a, applicable column (D) and (E) amounts for that individual.
(A) Name and Title (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 as deferred
in prior Form 990
(i) Base compensation (ii) Bonus & incentive compensation (iii) Other reportable compensation
(1)Ajay Patel PhDProf, Sch of Busns (i)
(ii)		 358,625
  		 
  		9,758
  		29,725
  		44,576
  		442,684
  		 
 
(2)Andrew R ChanVP Career Develop. (i)
(ii)		 268,838
  		100,000
  		8,716
  		73,891
  		26,517
  		477,962
  		 
 
(3)Anita M ConradAsst Secretary (i)
(ii)		 156,948
  		3,000
  		258
  		16,250
  		14,605
  		191,061
  		 
 
(4)B Hofler MilamSr.VP & CFO (i)
(ii)		 413,070
  		25,000
  		15,888
  		123,892
  		19,590
  		597,440
  		 
 
(5)Blake D MorantDean, Sch of Law (i)
(ii)		 350,017
  		7,500
  		28,861
  		29,143
  		18,829
  		434,350
  		 
 
(6)Craig O ThomasFormer Asst Treas (i)
(ii)		 196,270
  		28,413
  		90
  		61,679
  		19,213
  		305,665
  		14,746
 
(7)J Reid MorganSec & Gen Cnsl (i)
(ii)		 424,097
  		26,500
  		17,811
  		28,750
  		65,686
  		562,844
  		 
 
(8)Jacquelyn S Fetrow PhDDean, Wake Forest College (i)
(ii)		 247,832
  		20,000
  		10,474
  		21,496
  		10,378
  		310,180
  		 
 
(9)James J DunnChf Inv Officer (i)
(ii)		 537,493
  		148,864
  		9,720
  		95,896
  		17,357
  		809,330
  		73,864
 
(10)Jeffrey BzdelikBasketball Coach (i)
(ii)		 1,368,364
  		 
  		24,181
  		26,861
  		24,057
  		1,443,463
  		 
 
(11)Jim B GrobeFootball Coach (i)
(ii)		 2,167,376
  		 
  		37,937
  		33,269
  		18,340
  		2,256,922
  		 
 
(12)John D McConnell MDExecVP HlthAff (i)
(ii)		  
996,889 		 
  		 
23,044 		 
711,356 		 
21,582 		 
1,752,871 		 
 
(13)Lawrence D Hopkins MDTrustee (i)
(ii)		  
195,191 		 
95,683 		 
2,688 		 
9,555 		 
20,927 		 
324,044 		 
 
(14)Mark A PetersenVP - Advancement (i)
(ii)		 387,659
  		50,000
  		21,503
  		84,586
  		16,857
  		560,605
  		 
 
(15)Mark E Welker PhDFormer Interim Provost (i)
(ii)		 208,479
  		 
  		333
  		21,583
  		17,831
  		248,226
  		 
 
(16)Nathan O Hatch PhDPresident (i)
(ii)		 807,359
  		90,000
  		121,406
  		328,524
  		60,972
  		1,408,261
  		 
 
(17)Rogan Kersh PhDProvost (i)
(ii)		 452,457
  		25,000
  		11,395
  		95,775
  		19,927
  		604,554
  		 
 
(18)Ronald D WellmanDirector of Athletics (i)
(ii)		 685,207
  		 
  		46,523
  		290,381
  		17,138
  		1,039,249
  		 
 
(19)Steven S ReinemundDean, School of Business (i)
(ii)		 393,702
  		 
  		6,000
  		29,125
  		16,781
  		445,608
  		 
 
Schedule J (Form 990) 2013

Schedule J (Form 990) 2013
Page 3
Part III
Supplemental Information
Provide the information, explanation, or descriptions required for Part I, lines 1a, 1b, 3, 4a, 4b, 4c, 5a, 5b, 6a, 6b, 7, and 8, and for Part II.
Also complete this part for any additional information.
Return Reference Explanation
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: Reimbursed spousal travel is allowed per the filing organization's policy when pursuant to a bona fide business purpose. 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. Certain personal services, such as cleaning, landscaping and maintenance, are provided as part of the operation of the President's University-owned residence. 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.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.
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 course of 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.
Part III, Additional Information The filing organization, as part of the compensation arrangement for President Nathan O. Hatch, forgave a loan to Dr. Hatch, creating taxable compensation in the amount of $54,941 (included in Schedule J, Part II, column(B)(iii)).The following individuals have amounts included in Schedule J, column D (nontaxable benefits) for tuition provided to family members under the Wake Forest University Tuition Concession Plan for Dependent Children, available to all employees.J. Reid Morgan: $41,080 --- Andrew R. Chan: $8,340 --- Ajay Patel: $26,545All compensation provided to John D. McConnell, M.D. was paid by a related organization, Wake Forest University Health Sciences (WFUHS) for his services as an officer of that related organization (and other related organizations comprising the academic medical center of which the filing organizations Medical School is a part) and not for any of his services as an officer of the filing organization. Wake Forest University Baptist Medical Center (WFUBMC) is the organization that has been delegated authority to operate WFUHS and the North Carolina Baptist Hospital (NCBH), an unrelated but affiliated organization, and all of the respective subsidiaries of each of WFUHS and NCBH. WFUBMCs two equal members are the filing organization (WFU) and NCBH; Dr. McConnell is the CEO of each of WFUBMC, WFUHS and NCBH. The compensation provided to Lawrence D. Hopkins, MD is paid by a related organization for his services as a faculty member and employee of that related organization and not for his service as a trustee of the filing organization.
Schedule J (Form 990) 2013

Additional Data


Software ID: 13000170
Software Version: 2013v4.0
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 Part VI.
SchKMediumBullet Attach to Form 990. SchKMediumBullet See separate instructions.
SchKMediumBulletInformation about Schedule K (Form 990) and its instructions is at www.irs.gov/form990.
OMB No. 1545-0047
2013
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 65818PHB8 05-28-2009 112,612,190 See Sch K, Part VI   X   X   X
B NC Capital Facs Fin Agcy
  		56-1592154 65818PEC9 12-21-2004 36,605,000 See Sch K, Part VI, Ser A   X   X   X
C NC Capital Facs Fin Agcy
  		56-1592154 65818PEB1 12-21-2004 30,760,000 See Sch K, Part VI, Ser B   X   X   X
Part II
Proceeds
A B C D
1 Amount of bonds retired . . . . . . . . . . . . . . 10,315,000 10,315,000 16,550,000  
2 Amount of bonds legally defeased . . . . . . . . . . .        
3 Total proceeds of issue . . . . . . . . . . . . . . 113,514,794 36,605,000 30,760,000  
4 Gross proceeds in reserve funds . . . . . . . . . . . .        
5 Capitalized interest from proceeds . . . . . . . . . . . 5,935,159      
6 Proceeds in refunding escrows . . . . . . . . . . . .        
7 Issuance costs from proceeds . . . . . . . . . . . . 1,108,136 300,161 270,000  
8 Credit enhancement from proceeds . . . . . . . . . . .        
9 Working capital expenditures from proceeds . . . . . . . . .        
10 Capital expenditures from proceeds . . . . . . . . . . . 66,025,058      
11 Other spent proceeds . . . . . . . . . . . . . . 40,446,411 36,304,839 30,490,000  
12 Other unspent proceeds . . . . . . . . . . . . . .        
13 Year of substantial completion . . . . . . . . . . . . 2013 2001 1999
Yes No Yes No Yes No Yes No
14 Were the bonds issued as part of a current refunding issue? . . . . . X   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 Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50193E
Schedule K (Form 990) 2013
Schedule K (Form 990) 2013
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 of bond-financed property? . . . . . . . . . . . . X              
b If "Yes" to line 3a, does the organization routinely engage bond counsel or other outside counsel to review any management or service contracts relating to the financed property? X              
c Are there any research agreements that may result in private business use of bond-financed property? . . . . . . . . . . . . . . .   X            
d If "Yes" to line 3c, does the organization routinely engage bond counsel or other outside counsel to review any 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 0.219 %      
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 0.199 %      
6 Total of lines 4 and 5 . . . . . . . . . . . . . 0.418 %      
7 Does the bond issue meet the private security or payment test? . . . . .   X            
8a Has there been a sale or disposition of any of the bond financed property to a nongovernmental person other than a 501(c)(3) organization since the bonds were issued?. . . . . . . . . . . . . . . . .   X            
b If "Yes" to line 8a, enter the percentage of bond-financed property sold or disposed of.        
c If "Yes" to line 8a, was any remedial action taken pursuant to Regulations sections 1.141-12 and 1.145-2? . . . . . . . . . . . . .   X            
9 Has the organization established written procedures to ensure that all nonqualified bonds of the issue are remediated in accordance with the requirements under
Regulations sections 1.141-12 and 1.145-2? . . . . . . . 		X              
Part IV
Arbitrage
A B C D
Yes No Yes No Yes No Yes No
1 Has the issuer filed Form 8038-T? . . . . .   X   X   X    
2 If "No" to line 1, did the following apply? . . . .
a Rebate not due yet? . . . . . . . .   X   X   X    
b Exception to rebate? . . . . . . . .   X X     X    
c No rebate due? . . . . . . . . X   X   X      
If you checked "No rebate due" in line 2c, provide in
Part VI the date the rebate computation was performed
3 Is the bond issue a variable rate issue? . . . .                
4a Has the organization or the governmental issuer entered into a qualified hedge with respect to the bond issue?   X   X X      
b Name of provider . . . . . . . . . See Part V
  		 
  		See Part V
  		 
 
c Term of hedge . . . . . . . . . . 8.5000   8.5000  
d Was the hedge superintegrated? . . . .   X       X    
e Was the hedge terminated? . . . . . . X       X      
Schedule K (Form 990) 2013
Schedule K (Form 990) 2013
Page 3
Part IV
Arbitrage (Continued)
A B C D
Yes No Yes No Yes No Yes No
5a Were gross proceeds invested in a guaranteed investment contract (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? . . . . .                
6 Were any gross proceeds invested beyond an available temporary period? . . . . . . . . X     X   X    
7 Has the organization established written procedures to monitor the requirements of section 148? . . . X   X   X      
Part V
Procedures To Undertake Corrective Action
A B C D
Yes No Yes No Yes No Yes No
Has the organization established written procedures to ensure that violations of federal tax requirements are timely identified and corrected through the voluntary closing agreement program if self-remediation is not available under applicable regulations? X   X   X      
Part VI
Supplemental Information. Provide additional information for responses to questions on Schedule K (see instructions).
Return Reference Explanation
Part VI 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. No interim rebate calculation was undertaken because at no point were the proceeds of the Bond invested above the bond yield. The summary arbitrage rebate calculation date: September 9, 2014.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 bond issues and a line of credit. Prior Bond issues refunded were dated 12/02/2000 (Exempt bonds) and 12/17/1997 (taxable bonds). The 2004A bond also refunded the line of credit, dated 11/1/2004, which had refunded the maturing principal due on 11/1/04 of the 12/17/1997 tax exempt 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. Arbitrage rebate calculation December 21, 2004. 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) 2013

Additional Data


Software ID: 13000170
Software Version: 2013v4.0

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, line 38a or 40b.
MediumBullet Attach to Form 990 or Form 990-EZ. MediumBullet See separate instructions.
MediumBulletInformation about Schedule L (Form 990 or 990-EZ) and its instructions is at www.irs.gov/form990.
OMB No. 1545-0047
2013
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) Relationship between disqualified person and organization (c) Description of transaction (d) Corrected?
Yes No





2
Enter the amount of tax incurred by 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-EZ, Part V, line 38a, or Form 990, Part IV, line 26; or if the organization reported an amount on Form 990, Part X, line 5, 6, or 22
(a) Name of interested person (b) Relationship with organization (c) Purpose of loan (d) Loan to or from the organization? (e)Original principal amount (f)Balance due (g) In default? (h) Approved by board or committee? (i)Written agreement?
To From Yes No Yes No Yes No
(1) Nathan Hatch Pres. Life ins   X 274,707 54,941   No Yes   Yes  
Total ......Small Bullet $ 54,941
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 assistance (d) Type of assistance (e) Purpose of assistance
(1) Not required   54,629 Tuition Waiv Education
(2) Not required   79,216 Scholarships Education
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 50056A
Schedule L (Form 990 or 990-EZ) 2013
Schedule L (Form 990 or 990-EZ) 2013
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) IMG College
  		See Part V 2,691,338 Licensing Royalties   No
(2) IMG College
  		See Part V 97,388 Athl supplies,services   No
(3) Brian A Kell See Part V 54,462 Employee Wages   No
(4) Blue CrossBlue Shield NC
  		See Part V 1,656,967 Health Plan Administrator   No
(5) Julia Hatch See Part V 50,000 Employee Compensation   No
(6) Muriel Hopkins See Part V 47,600 Employee Wages   No
(7) Angela J Lynde See Part V 35,720 Employee Wages   No
(8) Baker & Associates LLC
  		See Part V 170,025 Employee search   No
(9) Smith Anderson Blount LLP
  		See Part V 1,318,428 Legal services   No
Part V
Supplemental Information
Provide additional information for responses to questions on Schedule L (see instructions).
Return Reference Explanation
Schedule L, Part V Supplemental Information Part IIIThe University has an employee dependent tuition remission benefit plan, which is available to all employees and their eligible dependents. Various listed persons have dependents currently receiving tuition discounts under this plan.The filing organization's Board includes an undergraduate student trustee and the family member of another trustee who are scholarship recipients. As noted in Form 990, Part III, about 64% of our graduate and undergraduate students receive some financial aid.Part IVIMG College: Organization trustee, Benjamin C. Sutton, Jr., is an officer of IMG College. WFU receives royalties from IMG College's marketing of the University's trademarks and sports logo items. The University purchases certain supplies and services from IMG College for use in its Athletics Programs.Brian A. Kell: Family member of the organization's key employee, Dr. Jacquelyn S. Fetrow, was paid wages for his employment with the filing organization.Blue Cross/Blue Shield of North Carolina: Two trustees of the filing organization, L. Steven Nelson and Frank B. Holding, Jr., are members of the Blue Cross/Blue Shield of North Carolina (BCBSNC) Board of Directors. BCBS is the administrator of the University's employee healthcare plan and retiree healthcare plan.Julia Hatch: Family member of the organization's president, Nathan O. Hatch, was paid wages for her employment with the filing organization.Muriel Hopkins: Family member of organization's trustee, Lawrence D. Hopkins, M.D., was paid wages for her employment as an instructor of the filing organization's Law School.Angela J. Lynde: Family member of the organization's key employee, Ronald D. Wellman, was paid wages for her employement with the filing organization.Baker and Associates, LLC: Filing organization's former trustee, Jerry H. Baker, is an officer and more than 35% owner of the interested person, which conducted executive search services for the filing organization.Smith, Anderson, Blount, Dorsett, Mitchell & Jernigan, LLP: Filing organization's trustee, Gerald F. Roach, is a more than 5% equity partner of the interested person law firm.
Schedule L (Form 990 or 990-EZ) 2013

Additional Data


Software ID: 13000170
Software Version: 2013v4.0




SCHEDULE M
(Form 990)

Department of the Treasury
Internal Revenue Service
Noncash Contributions
Right pointing arrow large imageComplete if the organizations answered "Yes" on Form 990, Part IV, lines 29 or 30.
Right pointing arrow large image Attach to Form 990.
Right pointing arrow large imageInformation about Schedule M (Form 990) and its instructions is at www.irs.gov/form990.
OMB No. 1545-0047
2013
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)
Noncash contribution amounts reported on
Form 990, Part VIII, line 1g 		(d)
Method of determining
noncash contribution amounts
1 Art—Works of art .... X 2 16,365 Appraisal
2 Art—Historical treasures .        
3 Art—Fractional interests ..        
4 Books and publications ..      
5 Clothing and household
goods ....... 		     
6 Cars and other vehicles .. X 117 120,950 Sale proceeds
7 Boats and planes ....        
8 Intellectual property ...        
9 Securities—Publicly traded . X 597 13,153,352 Market Value
10 Securities—Closely held stock .        
11 Securities—Partnership, LLC,
or trust interests .... 		       
12 Securities—Miscellaneous ..        
13 Qualified conservation
contribution—Historic
structures ..... 		       
14 Qualified conservation
contribution—Other ... 		       
15 Real estate—Residential . X 1 140,000 Selling price
16 Real estate—Commercial ..        
17 Real estate—Other ...        
18 Collectibles .....        
19 Food inventory ... X 107 66,011 Retail
20 Drugs and medical supplies .        
21 Taxidermy ......        
22 Historical artifacts ....        
23 Scientific specimens ..        
24 Archeological artifacts ... X 13 1,785 Appraisal
25 Other Right pointing arrow large image ( Computer Equip ) X 52 52,930 FMV
26 Other Right pointing arrow large image ( Furniture ) X 2 10,295 FMV
27 Other Right pointing arrow large image ( Steinway pianos ) X 2 75,604 FMV
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
8
Yes
No
30a
During the year, did the organization receive by contribution any property reported in Part I, lines 1 through 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 noncash
contributions? ..........................
32a
Yes
 
b
If "Yes," describe in Part II.
33
If the organization did not report an amount in column (c) for a type of property for which column (a) is checked,
describe in Part II.
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 51227J
Schedule M (Form 990) (2013)
Schedule M (Form 990) (2013)
Page 2
Part II
Supplemental Information. Provide the information required by Part I, lines 30b,
32b, and 33, and whether the organization is reporting in Part I, column (b), the number of contributions, the number of items received, or a combination of both. Also complete this part for any additional information.
Return Reference Explanation
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.
Part I, Line 33, Revenues Not Reported Wake Forest University received contributed services from donors valued at $303,617, courtesy cars used by employees make up a substantial portion of this.
Schedule M (Form 990) (2013)
Additional Data


Software ID: 13000170
Software Version: 2013v4.0
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.
MediumBullet Information about Schedule O (Form 990 or 990-EZ) and its instructions is at
www.irs.gov/form990.
OMB No. 1545-0047
2013
Open to Public
Inspection
Name of the organization
WAKE FOREST UNIVERSITY
 
Employer identification number

56-0532138
Return Reference Explanation
Client Note 1 Client Note 1 - Wake Forest University2013 year ended 6/30/2014Attachment to Form 990-TSTATEMENT 12PART V, LINE 1: INTEREST IN OR AUTHORITY OVER A FOREIGN ACCOUNTNAME OF COUNTRY: United Kingdom, France, Spain, Austria, Italy, Nicaragua, Canada, Cayman Islands, China
Form 990, Part III, Line 4d: Other Program Services Description OTHER PROGRAM SERVICES 4: 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.
Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et Winston-Salem is a relatively small city, and some of the officers, key employees, and trustees of the filing organization (the "specified group") have routine business dealings with each other. These include the following: the University's Key Employee, Steven Reinemund is on the Board of Directors of American Express, which company issues cards used by the University and a number of others in the specified group; another trustee is a Director of Blue Cross Blue Shield of North Carolina, which company provides health insurance plans/services to the filing organization and possibly others in the specified group and their businesses; some trustees are members or employees of law firms that provide legal services to some of the specified group or to businesses owned or operated by members of the specified group and to the filing organization; some members of the specified group do business with a car dealership owned by a trustee; and some members of the specified group have banking relationships with banks in which trustees are executives; members of the specified group may also have common investments. As noted in the response to Part VI, Question 12, however, the filing organization has a written conflict of interest policy designed to ensure that none of these transactions adversely affect the filing organization. Interested party transactions with the filing organization that meet the required thresholds, if any, are disclosed on Schedule L.
Form 990, Part VI, Line 4: Description of Significant Changes to Organizational Documents The filing organizations governing documents (bylaws and policy resolutions in implementation thereof) were revised during the tax year as follows:* Edits to the role of the Boards Investment Policy Committee that include its authority to place University funds under the management of a Board-approved related organization (Verger Capital Management LLC) formed for the purpose of managing the filing organizations, and other nonprofits, endowments, and other delegations related to the Verger entity;* Edits to policy resolutions on Investment and Brokerage Accounts to reflect the role of the Verger entity.
Form 990, Part VI, Line 11b: 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 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 15a: Compensation Review & Approval Process - CEO, Top Management 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 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 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.
Other Changes In Net Assets Or Fund Balances - Other Increases Related party transfer gifts WFUDF = $66998
Other Changes In Net Assets Or Fund Balances - Other Increases Related party transfer WFUHS = $299115
Other Changes In Net Assets Or Fund Balances - Other Increases Tax Consolidation of Verger, disregarded entity = $2730664
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, China.
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 51056K
Schedule O (Form 990 or 990-EZ) 2013

Additional Data


Software ID: 13000170
Software Version: 2013v4.0
SCHEDULE R
(Form 990)
Department of the Treasury
Internal Revenue Service
Related Organizations and Unrelated Partnerships
MediumBulletComplete if the organization answered "Yes" on Form 990, Part IV, line 33, 34, 35b, 36, or 37.
MediumBulletAttach to Form 990. MediumBullet See separate instructions.
MediumBullet Information about Schedule R (Form 990) and its instructions is at www.irs.gov/form990.

OMB No. 1545-0047
2013
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 (if applicable) 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) Deacon Blvd Holdings I LLC
PO Box 7201
WinstonSalem,NC27109
26-2203211 		Real Estate Holding - Currently Inactive NC     NA
 
(2) Creative Cafe LLC
PO Box 7201
WinstonSalem,NC27109
26-3700428 		Restaurant NC     NA
 
(3) Wake Forest Advantage
PO Box 7201
Winston Salem,NC27109
46-2754916 		International study program NC 72,178 61,524 NA
 
(4) Verger Fund I LLC
PO Box 7354
Winston Salem,NC27109
 Investment holding DE     NA
 
(5) Wake Forest University Spain SL
C/Toro 84-90 Oficina Izquierda
Salamanca,Salamanca37120
SP
study abroad educ. activities SP   33,485 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 entity?
Yes No
(1) Wake Forest University Foundation

PO Box 7201

WinstonSalem,NC27109
56-2038193 		Real Estate Holding and Management NC 501(c)(3) Line 11a, I Wake Forest University
 
Yes
 
(2) 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
 
(3) 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, I Wake Forest University
 
Yes
 
(4) Reynolda House Inc

PO Box 7287

WinstonSalem,NC27109
56-0810676 		Museum of American Art NC 501(c)(3) Line 7 Wake Forest University
 
Yes
 
(5) 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, I WFU 50 & NC Baptist Hospital 50
 
 
No
(6) Wake Forest Univ Health Sciences Group

Medical Center Blvd

WinstonSalem,NC27157
90-0222618 		Kidney dialysis treatment centers NC 501(c)(3) Line 11a, I WFU Health Sciences
 
 
No
(7) Wake Forest Innovation Quarter Devel Co

Medical Center Blvd

WinstonSalem,NC27157
56-2094067 		Research Park development NC 501(c)(6) Line 11a, I WFU Health Sciences
 
 
No
(8) Wake Forest Innovation Quarter Mgmt Co

Medical Center Blvd

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

Medical Center Blvd

WinstonSalem,NC27157
56-2094060 		Educational activities supporting Idealliance NC 501(c)(3) Line 11a, I WFU Health Sciences
 
 
No
(10) Wake Forest Innovation Quarter CDC

Medical Center Blvd

WinstonSalem,NC27157
20-0177581 		Research Park & community economic development NC 501(c)(3) Line 11a, I WFU Health Sciences
 
 
No
(11) Dialysis Access Group - Wake Forest Univ

Medical Center Blvd

WinstonSalem,NC27157
20-4241942 		Provide dialysis treatments to patients NC 501(c)(3) Line 9 WFU Health Sciences
 
 
No
(12) WFUBMC Community Physicians CP

Medical Center Blvd

WinstonSalem,NC27157
56-1903275 		Operates Primary Care Clinics NC 501(c)(3) Line 3 WFU Health Sciences
 
 
No
(13) The James W Denmark Loan Fund Inc

PO Box 7354

WinstonSalem,NC27109
56-0774769 		Student Loan Provider NC 501(c)(3) Line 11a, I NA
 
 
No
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50135Y
Schedule R (Form 990) 2013
Schedule R (Form 990) 2013
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) Verger Capital Management LLC

PO Box 7354
Winston Salem,NC27109
46-4037343 		Asset Management DE NA
  		Unrelated business       No     No 100.000 %
(2) Verger Capital Fund LLC

1834 Wake Forest Rd Starling Hall
Winston Salem,NC27109
46-4027021 		Endowment investing DE Verger Fund I
  		Excluded 512-514 inv 14,245,424 481,994,064   No     No 100.000 %










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
 		(i)
Section 512(b)(13) controlled entity?
Yes No
(1) WFU - 5 CRUT

c/o Wake Forest University
WinstonSalem,NC27109
91-2129902 		Investment NC WFU
  		T   411,329 59.140 %   No
(2) WFU - 6 CRUT

c/o Wake Forest University
WinstonSalem,NC27109
58-2175582 		Investment NC WFU
  		T   34,587 66.250 %   No
(3) WFU - 6 CRUT

c/o Wake Forest University
WinstonSalem,NC27109
56-6473036 		Investment NC WFU
  		T   163,846 66.260 %   No
(4) WFU - 6 CRUT

c/o Wake Forest University
WinstonSalem,NC27109
91-1832851 		Investment NC WFU
  		T   374,887 66.260 %   No
(5) WFU - 6375 CRUT

c/o Wake Forest University
WinstonSalem,NC27109
56-6459446 		Investment NC WFU
  		T   92,302 57.290 %   No
(6) WFU - 6 CRUT

c/o Wake Forest University
WinstonSalem,NC27109
90-0237204 		Investment NC WFU
  		T   199,119 66.260 %   No
(7) WFU - 5 CRUT

c/o Wake Forest University
WinstonSalem,NC27109
58-2045283 		Investment NC WFU
  		T   209,681 50.680 %   No
(8) WFU - 79 CRAT

c/o Wake Forest University
WinstonSalem,NC27109
56-6555544 		Investment NC WFU
  		T   409,810 66.730 %   No
(9) WFU - 6 CRUT

c/o Wake Forest University
WinstonSalem,NC27019
56-6476872 		Investment NC WFU
  		T   125,572 54.040 %   No
(10) WFU - 5 NICRUT

c/o Wake Forest University
WinstonSalem,NC27109
46-6427408 		Investment NC WFU
  		T   157,592 100.000 %   No
(11) WFU - 5 CRUT

c/o Wake Forest University
WinstonSalem,NC27109
56-6554614 		Investment NC WFU
  		T   734,008 79.300 %   No
(12) WFU - 5 CRAT

c/o Wake Forest University
WinstonSalem,NC27109
56-6537111 		Investment NC WFU
  		T   1,343,616 81.460 %   No
(13) WFU - 8 CRUT

c/o Wake Forest University
WinstonSalem,NC27109
91-2131579 		Investment NC WFU
  		T   63,413 74.790 %   No
(14) WFU - 5 CRUT

c/o Wake Forest University
WinstonSalem,NC27109
56-6562122 		Investment NC WFU
  		T   52,300 64.820 %   No
(15) WFU - 5 CRUT

c/o Wake Forest University
WinstonSalem,NC27109
45-6782977 		Investment NC WFU
  		T   183,437 51.270 %   No
Schedule R (Form 990) 2013
Schedule R (Form 990) 2013
Page 3
Part V
Transactions With Related Organizations Complete if the organization answered "Yes" on Form 990, Part IV, line 34, 35b, or 36.
Note. Complete line 1 if any entity is listed in Parts II, III, or IV of this schedule.
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 or (iv) rent from a controlled entity . . . . . . . . . . . . . . . . . . . . . . .
1a
 
No
b Gift, grant, or capital contribution to related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1b
Yes
 
c Gift, grant, or capital contribution from related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1c
Yes
 
d Loans or loan guarantees to or for related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1d
Yes
 
e Loans or loan guarantees by related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1e
 
No
f Dividends from related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1f
 
No
g Sale of assets to related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1g
 
No
h Purchase of assets from related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1h
 
No
i Exchange of assets with related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1i
 
No
j Lease of facilities, equipment, or other assets to related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1j
Yes
 
k Lease of facilities, equipment, or other assets from related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . .
1k
 
No
l Performance of services or membership or fundraising solicitations for related organization(s) . . . . . . . . . . . . . . . . . . . .
1l
Yes
 
m Performance of services or membership or fundraising solicitations by related organization(s) . . . . . . . . . . . . . . . . . . . .
1m
 
No
n Sharing of facilities, equipment, mailing lists, or other assets with related organization(s) . . . . . . . . . . . . . . . . . . . . .
1n
Yes
 
o Sharing of paid employees with related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1o
Yes
 
p Reimbursement paid to related organization(s) for expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1p
Yes
 
q Reimbursement paid by related organization(s) for expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1q
Yes
 
r Other transfer of cash or property to related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1r
Yes
 
s Other transfer of cash or property from related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1s
Yes
 
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 related organization 		(b)
Transaction
type (a-s) 		(c)
Amount involved 		(d)
Method of determining amount involved
(1) Wake Forest University Foundation

 o 81,731 FMV
(2) Wake Forest University Health Sciences

 c 1,000,000 Cash Transfer
(3) Wake Forest University Health Sciences

 p 2,225,563 Cash Transfer
(4) Wake Forest University Health Sciences

 q 7,695,934 Cash Transfer
(5) Wake Forest University Development Fndn

 o 71,351 FMV
(6) Reynolda House Inc

 b 480,000 GeneralSupport
(7) Verger Capital Management LLC

 d 2,748,898 Cash value
(8) Verger Capital Fund LLC

 b 434,870,382 cash value
(9) Verger Capital Fund LLC

 d 597,973 cash value
(10) Verger Capital Fund LLC

 r 26,057,628 cash value
(11) Verger Capital Fund LLC

 s 10,312,178 cash value
Schedule R (Form 990) 2013
Schedule R (Form 990) 2013
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)
Predominant income (related, unrelated, excluded from tax under sections 512-514)

(e)
Are all partners
section
501(c)(3)
organizations? 		(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 Yes No






























Schedule R (Form 990) 2013
Schedule R (Form 990) 2013
Page 5
Part VII
Supplemental Information
Provide additional information for responses to questions on Schedule R (see instructions).
Return Reference Explanation
Related Party Disclosures Verger Capital Management, LLC is a controlled entity that will be taxable as a Partnership. It was formed during the filing organization's fiscal year, but has not yet filed a tax return for its own first year end, which will be 12/31/14. Consequently, the information on Schedule R does not have income or assets at the end of the related partnership's year that falls with or within the filing organization's year.
Verger Capital Fund LLC Verger Capital Fund, LLC (VCF) was created during the year with a Section 351 transfer of $434,870,382 in order to hold the filing organization's Endowment Assets for investment. Shortly after year end VCF accepted endowment assets of other members of the related party group and will be holding and investing endowment assets of all the members of the Wake Forest University controlled group in future periods. All of the VCF investors are exempt 501(c)(3) organizations, and VCF will report as a Partnership each organization's share. At 6/30/14, the filing organization's year end, VCF contained only the filing organization's endowment assets. Therefore income and assets are reported as of that date.
Schedule R (Form 990) 2013
Additional Data


Software ID: 13000170
Software Version: 2013v4.0