Form990


Department of the TreasuryInternal 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)
Do not enter social security numbers on this form as it may be made public.
Go to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
2024
Open to Public Inspection
A For the 2024 calendar year, or tax year beginning 01-01-2024 , and ending 12-31-2024
BCheck if applicable:
CName of organization
WAKE FOREST UNIVERSITY HEALTH SCIENCES
 
 
Doing business as
 
 
Number and street (or P.O. box if mail is not delivered to street address)
MEDICAL CENTER BOULEVARD
 
Room/suite
City or town, state or province, country, and ZIP or foreign postal code
WINSTONSALEM, NC27157
D Employer identification number

22-3849199
E Telephone number

G Gross receipts $ 1,720,625,672
F Name and address of principal officer:
JULIE ANN FREISCHLAG MD
MEDICAL CENTER BOULEVARD
WINSTONSALEM,NC27157
I
Tax-exempt status: (   ) (insert no.) or
J
Website:
WWW.WAKEHEALTH.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  
K Form of organization:  
L Year of formation: 2001
M State of legal domicile: NC
Part I
Summary
Activities & Governance 1 Briefly describe the organization’s mission or most significant activities: TO IMPROVE HEALTH, ELEVATE HOPE, AND ADVANCE HEALING FOR ALL.
2 Check this box
3 Number of voting members of the governing body (Part VI, line 1a) ........ 3 19
4 Number of independent voting members of the governing body (Part VI, line 1b) ..... 4 17
5 Total number of individuals employed in calendar year 2024 (Part V, line 2a) ...... 5 2,107
6 Total number of volunteers (estimate if necessary) ............. 6 521
7a Total unrelated business revenue from Part VIII, column (C), line 12 ........ 7a -54,464
b Net unrelated business taxable income from Form 990-T, Part I, line 11 ......... 7b 797,096
Revenues Prior Year Current Year
8 Contributions and grants (Part VIII, line 1h) ......... 366,067,620 403,430,126
9 Program service revenue (Part VIII, line 2g) ......... 1,203,401,838 1,225,612,060
10 Investment income (Part VIII, column (A), lines 3, 4, and 7d ) .... 68,749,404 80,185,013
11 Other revenue (Part VIII, column (A), lines 5, 6d, 8c, 9c, 10c, and 11e) 4,519,799 4,476,484
12 Total revenue—add lines 8 through 11 (must equal Part VIII, column (A), line 12) 1,642,738,661 1,713,703,683
Expenses; 13 Grants and similar amounts paid (Part IX, column (A), lines 1–3 )... 74,207,537 79,903,564
14 Benefits paid to or for members (Part IX, column (A), line 4)..... 0 0
15 Salaries, other compensation, employee benefits (Part IX, column (A), lines 5–10) 1,060,452,091 1,159,018,292
16a Professional fundraising fees (Part IX, column (A), line 11e) ..... 1,267,219 1,228,109
b Total fundraising expenses (Part IX, column (D), line 25) 2,010,272    
17 Other expenses (Part IX, column (A), lines 11a–11d, 11f–24e).... 400,018,342 371,225,547
18 Total expenses. Add lines 13–17 (must equal Part IX, column (A), line 25) 1,535,945,189 1,611,375,512
19 Revenue less expenses. Subtract line 18 from line 12....... 106,793,472 102,328,171
Net Assets or Fund Balances; Beginning of Current Year End of Year
20 Total assets (Part X, line 16)............. 2,098,996,618 2,186,649,419
21 Total liabilities (Part X, line 26)............. 1,115,264,668 1,165,536,588
22 Net assets or fund balances. Subtract line 21 from line 20..... 983,731,950 1,021,112,831
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
Signature of officer Date
Type or print name and title
Paid Preparer Use Only
Print/Type preparer's name
Preparer's signature
Date
PTIN
Firm's name

Firm's EIN
Firm's address



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 (2024)
Form 990 (2024)
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: SEE SCHEDULE O FOR CONTINUATIONWAKE FOREST UNIVERSITY HEALTH SCIENCES (AT TIMES ALSO REFERRED TO AS "WAKE FOREST UNIVERSITY SCHOOL OF MEDICINE", "WFUHS OR "THE FILING ORGANIZATION") IS AN INTEGRAL PART OF ATRIUM HEALTH WAKE FOREST BAPTIST (AT TIMES ALSO REFERRED TO AS "AHWFB"), A PREEMINENT LEARNING HEALTH SYSTEM AND ACADEMIC MEDICAL CENTER OF THE HIGHEST QUALITY WITH BALANCED EXCELLENCE IN PATIENT CARE, RESEARCH AND EDUCATION THAT PROMOTES BETTER HEALTH FOR ALL THROUGH COLLABORATION, EXCELLENCE AND INNOVATION. AHWFB'S MISSION IS TO IMPROVE HEALTH, ELEVATE HOPE AND ADVANCE HEALING - FOR ALL AND ITS VISION IS TO BE THE FIRST AND BEST CHOICE FOR CARE.
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 $ 153,023,281 including grants of $ 21,829,513 ) (Revenue $ 431,817 )
MEDICAL RESEARCH, GENERAL/OTHER: RESEARCH COMPRISED OF BASIC SCIENCE CLINICAL RESEARCH AND POPULATION BASED STUDIES AND IS CENTERED ON THE ACQUISITION AND ADVANCEMENT OF SCIENTIFIC KNOWLEDGE AND NEW TECHNOLOGY AND THEIR TRANSFER TO INDUSTRY AND THE PATIENT IN ORDER TO PREVENT AND TREAT DISEASE AND PROMOTE HEALTH (1,309 GRANTS).
4b (Code:   ) (Expenses $ 967,098,255 including grants of $ 112,979 ) (Revenue $ 1,154,948,700 )
PATIENT CARE AND MEDICAL EXPENSES IN PROVIDING SERVICES TO OVER 1,621,000 PATIENT ENCOUNTERS DURING THE TAX YEAR.
4c (Code:   ) (Expenses $ 417,658,813 including grants of $ 57,961,072 ) (Revenue $ 70,663,360 )
PROFESSIONAL EDUCATION: INSTRUCTION OF 2,100 MEDICAL, GRADUATE, PHYSICIAN ASSISTANT, CRNA, AND BIOMEDICAL ENGINEERING STUDENTS. SCHOLARSHIPS AND AID PROVIDED TO 775 STUDENTS.
4d Other program services (Describe in Schedule O.)
(Expenses $   including grants of $   ) (Revenue $   )
4e Total program service expenses1,537,780,349
Form 990 (2024)
Form 990 (2024)
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
List of Attached Documents:
// Content
.....................
1
Yes
 
2
Is the organization required to complete Schedule B, Schedule of Contributors? See instructions. Click to see attachment
List of Attached Documents:
// Content
...
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
List of Attached Documents:
// Content
.............
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
List of Attached Documents:
// Content
.........
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 Rev. Proc. 98-19? If "Yes," complete Schedule C, Part IIIClick to see attachment
List of Attached Documents:
// Content
..
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
List of Attached Documents:
// Content
.........................
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
List of Attached Documents:
// Content
....
7
 
No
8
Did the organization maintain collections of works of art, historical treasures, or other similar assets? If "Yes,"
complete Schedule D, Part IIIClick to see attachment
List of Attached Documents:
// Content
..............
8
 
No
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
List of Attached Documents:
// Content
..............
9
 
No
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 V......
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
List of Attached Documents:
// Content
...................
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
List of Attached Documents:
// Content
.......
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
List of Attached Documents:
// Content
.......
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
List of Attached Documents:
// Content
............
11d
Yes
 
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
List of Attached Documents:
// Content
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
List of Attached Documents:
// Content
11f
Yes
 
12a
Did the organization obtain separate, independent audited financial statements for the tax year? If "Yes," complete
Schedule D, Parts XI and XIIClick to see attachment
List of Attached Documents:
// Content
......................
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
List of Attached Documents:
// Content
12b
Yes
 
13
Is the organization a school described in section 170(b)(1)(A)(ii)? If "Yes," complete Schedule EClick to see attachment
List of Attached Documents:
// Content
13
Yes
 
14a
Did the organization maintain an office, employees, or agents outside of the United States? .....
14a
 
No
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
List of Attached Documents:
// Content
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 IV.....Click to see attachment
List of Attached Documents:
// Content
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
List of Attached Documents:
// Content
16
 
No
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
List of Attached Documents:
// Content
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
List of Attached Documents:
// Content
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
List of Attached Documents:
// Content
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
 
 
21
Did the organization report more than $5,000 of grants or other assistance to any domestic organization or domestic government on Part IX, column (A), line 1? If “Yes,” complete Schedule I, Parts I and II.....Click to see attachment
List of Attached Documents:
// Content
21
Yes
 
Form 990 (2024)
Form 990 (2024)
Page 4
Part IV
Checklist of Required Schedules (continued)
Yes
No
22
Did the organization report more than $5,000 of grants or other assistance to or for domestic individuals on Part IX, column (A), line 2? If “Yes,” complete Schedule I, Parts I and III........Click to see attachment
List of Attached Documents:
// Content
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
List of Attached Documents:
// Content
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
List of Attached Documents:
// Content
24a
Yes
 
b
Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?...
24b
 
No
c
Did the organization maintain an escrow account other than a refunding escrow at any time during the year
to defease any tax-exempt bonds? ...............
24c
 
No
d
Did the organization act as an "on behalf of" issuer for bonds outstanding at any time during the year?...
24d
 
No
25a
Section 501(c)(3), 501(c)(4), and 501(c)(29) organizations. Did the organization engage in an excess benefit transaction with a disqualified person during the year? If "Yes," complete Schedule L, Part I ....
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.......................
25b
 
No
26
Did the organization report any amount on Part X, line 5 or 22 for receivables from or payables to any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or 35% controlled entity or family member of any of these persons? If "Yes," complete Schedule L, Part II...........
26
 
No
27
Did the organization provide a grant or other assistance to any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or employee thereof, a grant selection committee member, or to a 35% controlled entity (including an employee thereof) or family member of any of these persons?
If "Yes," complete
Schedule L, Part III.........................
27
 
No
28
Was the organization a party to a business transaction with one of the following parties (see the Schedule L, Part IV instructions for applicable filing thresholds, conditions, and exceptions):
a
A current or former officer, director, trustee, key employee, creator or founder, or substantial contributor? If "Yes," complete Schedule L, Part IV......................
28a
 
No
b
A family member of any individual described in line 28a? If "Yes," complete Schedule L, Part IV.....
28b
 
No
c
A 35% controlled entity of one or more individuals and/or organizations described in line 28a or 28b? If "Yes," complete Schedule L, Part IV.....................
28c
 
No
29
Did the organization receive more than $25,000 in non-cash contributions? If "Yes," complete Schedule M..Click to see attachment
List of Attached Documents:
// Content
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
List of Attached Documents:
// Content
30
 
No
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
List of Attached Documents:
// Content
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
List of Attached Documents:
// Content
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
List of Attached Documents:
// Content
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
List of Attached Documents:
// Content
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
List of Attached Documents:
// Content
37
 
No
38
Did the organization complete Schedule O and provide explanations on Schedule O for Part VI, lines 11b and 19? Note. All Form 990 filers are required to complete Schedule O. ............
38
Yes
 
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
0
b
Enter the number of Forms W-2G included on 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
 
 
Form 990 (2024)
Form 990 (2024)
Page 5
Part V
Statements Regarding Other IRS Filings and Tax Compliance (continued)
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
2,107
b
If at least one is reported on line 2a, did the organization file all required federal employment tax returns?
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
Yes
 
4a
At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account, securities account, or other financial account)? ..
4a
 
No
b
If "Yes," enter the name of the foreign country:
See instructions for filing requirements for FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR).
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
 
No
d
If "Yes," indicate the number of Forms 8282 filed during the year ....
7d
 
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
 
 
h
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C? ..........................
7h
 
 
8
Sponsoring organizations maintaining donor advised funds. Did a donor advised fund maintained by the sponsoring organization have excess business holdings at any time during the year? ........
8
 
 
9
Sponsoring organizations maintaining donor advised funds.
a
Did the sponsoring organization make any taxable distributions under section 4966?........
9a
 
 
b
Did the sponsoring organization make a distribution to a donor, donor advisor, or related person?...
9b
 
 
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
 
 
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
 
 
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
 
 
15
Is the organization subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or excess parachute payment(s) during the year? ....................
If "Yes," see the instructions and file Form 4720, Schedule N.
15
Yes
 
16
Is the organization an educational institution subject to the section 4968 excise tax on net investment income? ..
If "Yes," complete Form 4720, Schedule O.
16
 
No
17
Section 501(c)(21) organizations. Did the trust, or any disqualified or other person engage in any activities that would result in the imposition of an excise tax under section 4951, 4952, or 4953? ..
If "Yes," complete Form 6069.
17
 
 
Form 990 (2024)
Form 990 (2024)
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
19
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
17
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
Yes
 
4
Did the organization make any significant changes to its governing documents since the prior Form 990 was filed? .
4
 
No
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
Yes
 
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
Yes
 
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
Yes
 
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 on 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 on 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 on 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 filed
KY , MD , MA , MI , NH , NY , OR , SC
18
Section 6104 requires an organization to make its Form 1023 (1024 or 1024-A, if applicable), 990, and 990-T (section 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, address, and telephone number of the person who possesses the organization's books and records:
ATRIUM HEALTH WAKE FOREST BAPTISTMEDICAL CENTER BOULEVARD   WINSTON SALEM,NC27157 (336) 716-4445
Form 990 (2024)
Form 990 (2024)
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 the 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, box 6 of Form 1099-MISC, and/or box 1 of Form 1099-NEC) 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.

See the instructions for the order in which to list the persons above.
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/1099-NEC) 		(E)
Reportable compensation from related organizations (W-2/1099-MISC/1099-NEC) 		(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) JULIE ANN FREISCHLAG MD......................................................................
DIRECTOR, CEO AHWFB
 15.70
.................
24.30 		X   X       7,594,629 0 40,091
(2) BRADLEY A CLARK......................................................................
EVP, TREASURER
 1.00
.................
39.00 		    X       2,513,703 0 288,012
(3) TERRY G WILLIAMS......................................................................
FORMER OFFICER
 0.00
.................
0.00 		          X 2,204,442 0 245,226
(4) EDWARD H KINCAID MD......................................................................
ACADEMIC FACULTY PHYSICIAN - CHAIR
 40.00
.................
0.00 		        X   1,751,465 0 45,811
(5) L EBONY BOULWARE MD......................................................................
DEAN, WFU SCHOOL OF MEDICINE
 35.00
.................
5.00 		    X       1,717,096 0 35,593
(6) ANTHONY ATALA MD......................................................................
ACADEMIC FACULTY PHYSICIAN - CHAIR
 40.00
.................
0.00 		        X   1,701,372 0 36,743
(7) KENNETH LENNON MD......................................................................
CLIN ADJ FACULTY
 40.00
.................
0.00 		        X   0 1,656,037 43,961
(8) RUBEN MESA......................................................................
SRVP & ED COMP CANCER, PRES ENTERPRISE CANCER SERV
 40.00
.................
0.00 		        X   1,601,249 0 43,544
(9) SUSAN R WENTE PHD......................................................................
DIRECTOR, PRESIDET WFU
 3.00
.................
37.00 		X   X       0 1,229,582 363,435
(10) DAVID ZHAO MD......................................................................
ACADEMIC FACULTY PHYSICIAN - SECTION CHIEF
 40.00
.................
0.00 		        X   1,549,522 0 37,649
(11) TERRY L HALES JR......................................................................
ASSISTANT TREASURER
 35.20
.................
4.80 		    X       1,310,800 0 52,534
(12) DAVID ZAAS MD......................................................................
PRESIDENT HEALTH SYSTEM
 20.00
.................
20.00 		    X       1,314,010 0 40,169
(13) KEVIN P HIGH MD......................................................................
FORMER OFFICER
 0.00
.................
0.00 		          X 1,277,196 0 45,150
(14) LISA M MARSHALL......................................................................
VP, CHIEF PHIL OFF
 10.00
.................
30.00 		    X       0 974,433 31,375
(15) BRIAN A WHITE......................................................................
CORPORATE SECRETARY
 2.00
.................
0.00 		    X       0 680,964 56,036
(16) STEPHAN L LILLIE......................................................................
SVP & CFO
 9.70
.................
30.30 		    X       0 666,639 62,046
(17) J REID MORGAN......................................................................
FORMER OFFICER
 0.00
.................
0.00 		          X 0 412,282 57,418
Form 990 (2024)
Form 990 (2024)
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/1099-NEC) 		(E)
Reportable compensation from related organizations (W-2/1099-MISC/1099-NEC) 		(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) DONALD E FLOW........................................................................
VICE CHAIR
 3.00
.......................8.00 		X   X       0 0 0
(19) A DALE JENKINS........................................................................
CHAIR
 2.00
.......................0.00 		X   X       0 0 0
(20) BRENDA CLINE........................................................................
DIRECTOR
 2.00
.......................0.00 		X           0 0 0
(21) FREDERICK W EUBANK II........................................................................
DIRECTOR
 2.00
.......................4.00 		X           0 0 0
(22) MARYBETH TORBET HAYS........................................................................
DIRECTOR
 2.00
.......................0.00 		X           0 0 0
(23) MATTHEW A KING........................................................................
DIRECTOR
 2.00
.......................10.00 		X           0 0 0
(24) MIT B SHAH........................................................................
DIRECTOR
 2.00
.......................0.00 		X           0 0 0
(25) DONNA A BOSWELL PHD........................................................................
DIRECTOR
 2.00
.......................9.00 		X           0 0 0
(26) MATTHEW CRAWFORD........................................................................
DIRECTOR
 2.00
.......................3.00 		X           0 0 0
(27) CURTIS C FARMER........................................................................
DIRECTOR
 2.00
.......................0.00 		X           0 0 0
(28) JAMES M O'CONNELL........................................................................
DIRECTOR
 2.00
.......................0.00 		X           0 0 0
(29) CATHY WALL THOMAS MD........................................................................
DIRECTOR (TO 6/30/24)
 2.00
.......................3.00 		X           0 0 0
(30) SHANNAN SPENCE TOWNSEND........................................................................
DIRECTOR
 2.00
.......................0.00 		X           0 0 0
(31) JOHN M VANN........................................................................
DIRECTOR
 4.00
.......................8.00 		X           0 0 0
(32) DAVID I WAHRHAFTIG........................................................................
DIRECTOR
 2.00
.......................0.00 		X           0 0 0
(33) SHELMER D BLACKBURN........................................................................
DIRECTOR (FR 7/1/24)
 2.00
.......................0.00 		X           0 0 0
(34) JEANNE WHITMAN BOBBITT........................................................................
DIRECTOR (FR 7/1/24)
 2.00
.......................0.00 		X           0 0 0
(35) PATRICIA L TURNER MD........................................................................
DIRECTOR (FR 7/1/24)
 2.00
.......................0.00 		X           0 0 0
1b Sub-Total..............
c Total from continuation sheets to Part VII, Section A..
d Total (add lines 1b and 1c)......... 24,535,484 5,619,937 1,524,793
2
Total number of individuals (including but not limited to those listed above) who received more than $100,000 of reportable compensation from the organization 1,415
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
Yes
 
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
BRASFIELD & GORRIE - FRANK L BLUM CONSTR

3021 7TH AVE S
BIRMINGHAM,AL35233 		CONSTRUCTION CONTRACT SERVICES 151,850,899
NTHRIVE INC

PO BOX 676188
DALLAS,TX75267 		CODING, BILLING, & COLLECTION SERVICES 17,943,381
WHITING TURNER CONTRACTING COMPANY

PO BOX 17596
BALTIMORE,MD21297 		CONSTRUCTION CONTRACT SERVICES 16,501,156
SHELCO LLC

2359 PERIMETER POINTE PKWY
CHARLOTTE,NC28208 		CONSTRUCTION CONTRACT SERVICES 9,828,144
CASSIDY TURLEY FIDUCIARY INC

525 VINE STREET 156
WINSTONSALEM,NC27101 		REAL ESTATE CONSULTING SERVICES 5,450,948
2
Total number of independent contractors (including but not limited to those listed above) who received more than $100,000 of compensation from the organization 171
Form 990 (2024)
Form 990 (2024)
Page 9
Part VIII
Statement of Revenue
Check if Schedule O contains a response or note to any line in this Part VIII.............
(A)
Total revenue 		(B)
Related or
exempt
function
revenue 		(C)
Unrelated
business
revenue 		(D)
Revenue
excluded from
tax under sections
512 - 514
Contributions, Gifts, Grants, and OtherAmt Similar Amounts 1a Federated campaigns..1a  
b Membership dues..1b  
c Fundraising events..1c 831,709
d Related organizations1d 20,859,822
e Government grants (contributions)1e 271,963,605
f All other contributions, gifts, grants, and similar amounts not included above1f 109,774,990
g Noncash contributions included in lines 1a - 1f:$ 1g 1,974,899
h Total. Add lines 1a-1f....... 403,430,126
Program Service RevenueAmt Business Code
2a PATIENT SERVICE REVENUE 621111 1,154,948,700 1,154,948,700    
b TUITION REVENUE 611310 70,663,360 70,663,360    
c
d
e
f All other program service revenue.        
g Total. Add lines 2a–2f ..... 1,225,612,060
OtherAmtRevenueAmt 3 Investment income (including dividends, interest, and othersimilar amounts) ...... 52,427,305   -1,333,010 53,760,315
4 Income from investment of tax-exempt bond proceeds        
5 Royalties........... 1,831,647     1,831,647
(i) Real (ii) Personal
6a Gross rents 6a 1,104,108  
b Less: rental expenses 6b 0  
c Rental income or (loss) 6c 1,104,108  
d Net rental income or (loss)....... 1,104,108     1,104,108
(i) Securities (ii) Other
7a Gross amount from sales of assets other than inventory 7a 34,324,668  
b Less: cost or other basis and sales expenses 7b 0 6,566,960
c Gain or (loss) 7c 34,324,668 -6,566,960
d Net gain or (loss)......... 27,757,708     27,757,708
8a Gross income from fundraising events (not including $ 831,709of contributions reported on line 1c). See Part IV, line 18 ....
8a 0
b Less: direct expenses ... 8b 355,029
c Net income or (loss) from fundraising events.. -355,029   -355,029
9a Gross income from gaming activities.
See Part IV, line 19 ...
9a  
b Less: direct expenses ... 9b  
c Net income or (loss) from gaming activities..        
10a Gross sales of inventory, less
returns and allowances ..
10a  
b Less: cost of goods sold .. 10b  
c Net income or (loss) from sales of inventory..        
OtherRevenueMiscAmt
Business Code
11a OTHER REVENUE 900099 1,710,363 431,817 1,278,546  
b PARKING REVENUE 812930 185,395     185,395
c            
d All other revenue ....        
e Total. Add lines 11a–11d ...... 1,895,758
12 Total revenue. See instructions..... 1,713,703,683 1,226,043,877 -54,464 84,284,144
Form 990 (2024)
Form 990 (2024)
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 domestic organizations and domestic governments. See Part IV, line 21 .... 37,053,861 37,053,861
2 Grants and other assistance to domestic individuals. See Part IV, line 22 ........... 36,310,466 36,310,466
3 Grants and other assistance to foreign organizations, foreign governments, and foreign individuals. See Part IV, lines 15 and 16. ............. 6,539,237 6,539,237
4 Benefits paid to or for members .......    
5 Compensation of current officers, directors, trustees, and key employees ........... 32,322,862 16,129,108 16,161,431 32,323
6 Compensation not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B) .........        
7 Other salaries and wages........ 914,642,815 888,326,628 25,963,700 352,487
8 Pension plan accruals and contributions (include section 401(k) and 403(b) employer contributions) .... 63,933,444 62,054,651 1,814,860 63,933
9 Other employee benefits ....... 86,931,939 84,379,090 2,465,978 86,871
10 Payroll taxes ........... 61,187,232 59,389,141 1,736,904 61,187
11 Fees for services (non-employees):        
a Management ......        
b Legal ......... 4,219,068 4,219,068    
c Accounting ........... 552,216   552,216  
d Lobbying ........... 170,393 170,393    
e Professional fundraising services. See Part IV, line 17 1,228,109 1,228,109
f Investment management fees ...... 8,528,918 5,543,479 2,976,910 8,529
g Other (If line 11g amount exceeds 10% of line 25, column (A) amount, list line 11g expenses on Schedule O) 60,806,824 55,368,305 5,405,288 33,231
12 Advertising and promotion .... 575,036 480,926 93,535 575
13 Office expenses ....... 15,750,057 14,330,796 1,403,511 15,750
14 Information technology ...... 2,338,378 2,127,664 208,376 2,338
15 Royalties .. 760,537 760,537    
16 Occupancy ........... 66,717,382 60,705,379 5,945,286 66,717
17 Travel ............ 9,350,332 8,520,061 821,057 9,214
18 Payments of travel or entertainment expenses for any federal, state, or local public officials .        
19 Conferences, conventions, and meetings .... 3,507,704 3,191,619 312,577 3,508
20 Interest ........... 3,686,545 2,396,117 1,286,741 3,687
21 Payments to affiliates .......        
22 Depreciation, depletion, and amortization .. 32,338,642 28,743,131 3,563,172 32,339
23 Insurance ... 6,658,103 6,653,063 4,984 56
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 MEDICAL SUPPLIES 98,758,934 98,758,934    
b INCOME TAXES 29,128   29,128  
c BAD DEBT 47,044,319 47,044,319    
d OTHER SUPPLIES 7,566,585 6,884,748 674,270 7,567
e All other expenses 1,866,446 1,699,628 164,967 1,851
25 Total functional expenses. Add lines 1 through 24e 1,611,375,512 1,537,780,349 71,584,891 2,010,272
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 if following SOP 98-2 (ASC 958-720).        
Form 990 (2024)
Form 990 (2024)
Page 11
Part X
Balance Sheet
Check if Schedule O contains a response or note to any line in this Part IX..............
(A)
Beginning of year 		(B)
End of year
Assets 1 Cash–non-interest-bearing ........ 776,255 1 7,024,898
2 Savings and temporary cash investments .........   2  
3 Pledges and grants receivable, net ...... 112,941,032 3 110,319,458
4 Accounts receivable, net ............. 182,694,821 4 247,027,714
5 Loans and other receivables from any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or 35% controlled entity or family member of any of these persons .......
  5  
6 Loans and other receivables from other disqualified persons (as defined under section 4958(f)(1)), and persons described in section 4958(c)(3)(B) ...
  6  
7 Notes and loans receivable, net ........... 261,439 7 238,642
8 Inventories for sale or use ............ 3,310,978 8 2,340,719
9 Prepaid expenses and deferred charges ...... 4,221,008 9 1,617,744
10a Land, buildings, and equipment: cost or other basis. Complete Part VI of Schedule D 10a 942,332,070
b Less: accumulated depreciation 10b 566,209,863 342,674,081 10c 376,122,207
11 Investments—publicly traded securities . 1,010,000 11 750,000
12 Investments—other securities. See Part IV, line 11 ..... 1,177,997,163 12 1,157,196,827
13 Investments—program-related. See Part IV, line 11 .. 3,418,170 13 3,558,615
14 Intangible assets ............... 2,134,366 14 1,983,898
15 Other assets. See Part IV, line 11 ........... 267,557,305 15 278,468,697
16 Total assets. Add lines 1 through 15 (must equal line 33)... 2,098,996,618 16 2,186,649,419
Liabilities 17 Accounts payable and accrued expenses ..... 688,994,756 17 640,201,529
18 Grants payable ...   18  
19 Deferred revenue ......... 63,854,913 19 219,136,126
20 Tax-exempt bond liabilities ......... 115,646,226 20 106,320,537
21 Escrow or custodial account liability. Complete Part IV of Schedule D   21  
22 Loans and other payables to any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or 35% controlled entity or family member of any of these persons .........
  22  
23 Secured mortgages and notes payable to unrelated third parties .. 2,499,122 23 1,118,976
24 Unsecured notes and loans payable to unrelated third parties ..   24  
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 244,269,651 25 198,759,420
26 Total liabilities. Add lines 17 through 25.. 1,115,264,668 26 1,165,536,588
Net Assets or Fund Balance Organizations that follow FASB ASC 958, check here and complete lines 27, 28, 32, and 33.
27 Net assets without donor restrictions .......... 612,087,654 27 583,386,246
28 Net assets with donor restrictions ........... 371,644,296 28 437,726,585
Organizations that do not follow FASB ASC 958, check here right arrow and complete lines 29 through 33.
29 Capital stock or trust principal, or current funds .....   29  
30 Paid-in or capital surplus, or land, building or equipment fund ...   30  
31 Retained earnings, endowment, accumulated income, or other funds   31  
32 Total net assets or fund balances ........... 983,731,950 32 1,021,112,831
33 Total liabilities and net assets/fund balances ........ 2,098,996,618 33 2,186,649,419
Form 990 (2024)
Form 990 (2024)
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
1,713,703,683
2
Total expenses (must equal Part IX, column (A), line 25) ............
2
1,611,375,512
3
Revenue less expenses. Subtract line 2 from line 1 ..............
3
102,328,171
4
Net assets or fund balances at beginning of year (must equal Part X, line 32, column (A)) ..
4
983,731,950
5
Net unrealized gains (losses) on investments ...............
5
2,281,532
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
-67,228,822
10
Net assets or fund balances at end of year. Combine lines 3 through 9 (must equal Part X, line 32, column (B))
10
1,021,112,831
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 on
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 Uniform Guidance, 2 C.F.R. Part 200, Subpart F?
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 (2024)
Form 990 (2024)
Additional Data


Software ID:  
Software Version:  
Form 990, Special Condition Description:
Special Condition Description
SCHEDULE A
(Form 990)

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 Go to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
2024
Open to Public
Inspection
Name of the organization
WAKE FOREST UNIVERSITY HEALTH SCIENCES
 
Employer identification number

22-3849199
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 12, check only one box.)
1
2
3
4
5
6
7
8
9
10
11
12
a
b
c
d
e
f
Enter the number of supported organizations ...............................  
g
Provide the following information about the supported organization(s).
(i) Name of supported organization (ii) EIN (iii) Type of organization (described on lines 1- 10 above (see instructions)) (iv) Is the organization listed in your governing document? (v) Amount of monetary support (see instructions) (vi) Amount of other support (see instructions)
Yes No
Total
 
   
For Paperwork Reduction Act Notice, see the Instructions for
Form 990 or 990-EZ.
Cat. No. 11285F
Schedule A (Form 990) 2024

Schedule A (Form 990) 2024
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 failed 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) 2020 (b) 2021 (c) 2022 (d) 2023 (e) 2024 (f) Total
1 Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grant.") .. 407,730,955 130,329,303 277,209,283 367,022,128 403,430,126 1,585,721,795
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 3 407,730,955 130,329,303 277,209,283 367,022,128 403,430,126 1,585,721,795
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. 1,585,721,795
Section B. Total Support
Calendar year (or fiscal year beginning in) right arrow (a) 2020 (b) 2021 (c) 2022 (d) 2023 (e) 2024 (f) Total
7 Amounts from line 4.. 407,730,955 130,329,303 277,209,283 367,022,128 403,430,126 1,585,721,795
8 Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources... 42,460,439 24,680,284 49,992,514 53,620,876 55,581,782 226,335,895
9 Net income from unrelated business activities, whether or not the business is regularly carried on.. 95,211   65,016 743,726 793,442 1,697,395
10 Other income. Do not include gain or loss from the sale of capital assets (Explain in Part VI.).. 231,845 274,294 205,138 231,859 1,895,728 2,838,864
11 Total support. Add lines 7 through 10 1,816,593,949
12
12
4,740,189,747
13
First 5 years. If the Form 990 is for the organization's first, second, third, fourth, or fifth tax year as a section 501(c)(3) organization, check this box and stop here ........................................right arrow
Section C. Computation of Public Support Percentage
14
14
87.290 %
15
15
87.360 %
16a
33 1/3% support test—2024. If the organization did not check the box on line 13, and line 14 is 33 1/3% or more, check this box
and stop here. The organization qualifies as a publicly supported organization .......................right arrow
b
33 1/3% support test—2023. If the organization did not check a box on line 13 or 16a, and line 15 is 33 1/3% or more, check this
box and stop here. The organization qualifies as a publicly supported organization ..................... right arrow
17a
10%-facts-and-circumstances test—2024. If the organization did not check a box on line 13, 16a, or 16b, and line 14 is 10% or more, and if the organization meets the "facts-and-circumstances" test, check this box and stop here. Explain in Part VI how the organization meets the "facts-and-circumstances" test. The organization qualifies as a publicly supported organization ............ right arrow
b
10%-facts-and-circumstances test—2023. If the organization did not check a box on line 13, 16a, 16b, or 17a, and line 15 is 10% or more, and if the organization meets the "facts-and-circumstances" test, check this box and stop here. Explain in Part VI how the organization meets the "facts-and-circumstances" test. The organization qualifies as a publicly supported organization ............ right arrow
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) 2024

Schedule A (Form 990) 2024
Page 3
Part III
Support Schedule for Organizations Described in Section 509(a)(2)
(Complete only if you checked the box on line 10 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) 2020 (b) 2021 (c) 2022 (d) 2023 (e) 2024 (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) 2020 (b) 2021 (c) 2022 (d) 2023 (e) 2024 (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 on 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 VI.) ..            
13 Total support. (Add lines 9, 10c, 11, and 12.)..            
14
First 5 years. If the Form 990 is for the organization's first, second, third, fourth, or fifth tax year as a section 501(c)(3) organization, check this box and stop here................................................. right arrow
Section C. Computation of Public Support Percentage
15
15
 
16
16
 
Section D. Computation of Investment Income Percentage
17
17
 
18
18
 
19a
33 1/3% support tests-2024. If the organization did not check the box on line 14, and line 15 is more than 33 1/3%, and line 17 is not more than 33 1/3%, check this box and stop here. The organization qualifies as a publicly supported organization ....... right arrow
b
33 1/3 % support tests—2023. If the organization did not check a box on line 14 or line 19a, and line 16 is more than 33 1/3% and line 18 is not more than 33 1/3%, check this box and stop here. The organization qualifies as a publicly supported organization ..... right arrow
20
Private foundation. If the organization did not check a box on line 14, 19a, or 19b, check this box and see instructions .... right arrow
Schedule A (Form 990) 2024

Schedule A (Form 990) 2024
Page 4
Part IV
Supporting Organizations
(Complete only if you checked a box on line 12 of Part I. If you checked box 12a, of Part I, complete Sections A and B. If you checked box 12b, of Part I, complete Sections A and C. If you checked box 12c, of Part I, complete Sections A, D, and E. If you checked box12d, of Part I, complete Sections A and D, and complete Part V.)
Section A. All Supporting Organizations
Yes
No
1
Are all of the organization’s supported organizations listed by name in the organization’s governing documents?
If "No," describe in Part VI how the supported organizations are designated. If designated by class or purpose,
describe the designation. If historic and continuing relationship, explain.
1
 
 
2
Did the organization have any supported organization that does not have an IRS determination of status under section 509(a)(1) or (2)? If "Yes," explain in Part VI how the organization determined that the supported organization was described in section 509(a)(1) or (2).
2
 
 
3a
Did the organization have a supported organization described in section 501(c)(4), (5), or (6)? If "Yes," answer lines 3b and 3c below.
3a
 
 
b
Did the organization confirm that each supported organization qualified under section 501(c)(4), (5), or (6) and satisfied the public support tests under section 509(a)(2)? If "Yes," describe in Part VI when and how the organization made the determination.
3b
 
 
c
Did the organization ensure that all support to such organizations was used exclusively for section 170(c)(2)(B) purposes? If "Yes," explain in Part VI what controls the organization put in place to ensure such use.
3c
 
 
4a
Was any supported organization not organized in the United States ("foreign supported organization")? If “Yes” and if you checked box 12a or 12b in Part I, answer lines 4b and 4c below.
4a
 
 
b
Did the organization have ultimate control and discretion in deciding whether to make grants to the foreign supported organization? If “Yes,” describe in Part VI how the organization had such control and discretion despite being controlled or supervised by or in connection with its supported organizations.
4b
 
 
c
Did the organization support any foreign supported organization that does not have an IRS determination under sections 501(c)(3) and 509(a)(1) or (2)? If “Yes,” explain in Part VI what controls the organization used to ensure that all support to the foreign supported organization was used exclusively for section 170(c)(2)(B) purposes.
4c
 
 
5a
Did the organization add, substitute, or remove any supported organizations during the tax year? If “Yes,” answer lines 5b and 5c below (if applicable). Also, provide detail in Part VI, including (i) the names and EIN numbers of the supported organizations added, substituted, or removed; (ii) the reasons for each such action; (iii) the authority under the organization's organizing document authorizing such action; and (iv) how the action was accomplished (such as by amendment to the organizing document).
5a
 
 
b
Type I or Type II only. Was any added or substituted supported organization part of a class already designated in the organization's organizing document?
5b
 
 
c
Substitutions only. Was the substitution the result of an event beyond the organization's control?
5c
 
 
6
Did the organization provide support (whether in the form of grants or the provision of services or facilities) to anyone other than (i) its supported organizations, (ii) individuals that are part of the charitable class benefited by one or more of its supported organizations, or (iii) other supporting organizations that also support or benefit one or more of the filing organization’s supported organizations? If “Yes,” provide detail in Part VI.
6
 
 
7
Did the organization provide a grant, loan, compensation, or other similar payment to a substantial contributor (defined in section 4958(c)(3)(C)), a family member of a substantial contributor, or a 35% controlled entity with regard to a substantial contributor? If “Yes,” complete Part I of Schedule L (Form 990) .
7
 
 
8
Did the organization make a loan to a disqualified person (as defined in section 4958) not described on line 7? If “Yes,” complete Part I of Schedule L (Form 990).
8
 
 
9a
Was the organization controlled directly or indirectly at any time during the tax year by one or more disqualified persons, as defined in section 4946 (other than foundation managers and organizations described in section 509(a)(1) or (2))? If “Yes,” provide detail in Part VI.
9a
 
 
b
Did one or more disqualified persons (as defined on line 9a) hold a controlling interest in any entity in which the supporting organization had an interest? If “Yes,” provide detail in Part VI.
9b
 
 
c
Did a disqualified person (as defined on line 9a) have an ownership interest in, or derive any personal benefit from, assets in which the supporting organization also had an interest? If “Yes,” provide detail in Part VI.
9c
 
 
10a
Was the organization subject to the excess business holdings rules of section 4943 because of section 4943(f) (regarding certain Type II supporting organizations, and all Type III non-functionally integrated supporting organizations)? If “Yes,” answer line 10b below.
10a
 
 
b
Did the organization have any excess business holdings in the tax year? (Use Schedule C, Form 4720, to determine whether the organization had excess business holdings).
10b
 
 
Schedule A (Form 990) 2024

Schedule A (Form 990) 2024
Page 5
Part IV
Supporting Organizations (continued)
Yes
No
11
Has the organization accepted a gift or contribution from any of the following persons?
a
A person who directly or indirectly controls, either alone or together with persons described on lines 11b and 11c below, the governing body of a supported organization?
11a
 
 
b
A family member of a person described on 11a above?
11b
 
 
c
A 35% controlled entity of a person described on line 11a or 11b above? If “Yes” to 11a, 11b, or 11c, provide detail in Part VI.
11c
 
 
Section B. Type I Supporting Organizations
Yes
No
1
Did the officers, directors, trustees, or membership of one or more supported organizations have the power to regularly appoint or elect at least a majority of the organization’s directors or trustees at all times during the tax year? If “No,” describe in Part VI how the supported organization(s) effectively operated, supervised, or controlled the organization’s activities. If the organization had more than one supported organization, describe how the powers to appoint and/or remove directors or trustees were allocated among the supported organizations and what conditions or restrictions, if any, applied to such powers during the tax year.
1
 
 
2
Did the organization operate for the benefit of any supported organization other than the supported organization(s) that operated, supervised, or controlled the supporting organization? If “Yes,” explain in Part VI how providing such benefit carried out the purposes of the supported organization(s) that operated, supervised or controlled the supporting organization.
2
 
 
Section C. Type II Supporting Organizations
Yes
No
1
Were a majority of the organization’s directors or trustees during the tax year also a majority of the directors or trustees of each of the organization’s supported organization(s)? If “No,” describe in Part VI how control or management of the supporting organization was vested in the same persons that controlled or managed the supported organization(s).
1
 
 
Section D. All Type III Supporting Organizations
Yes
No
1
Did the organization provide to each of its supported organizations, by the last day of the fifth month of the organization’s tax year, (i) a written notice describing the type and amount of support provided during the prior tax year, (ii) a copy of the Form 990 that was most recently filed as of the date of notification, and (iii) copies of the organization’s governing documents in effect on the date of notification, to the extent not previously provided?
1
 
 
2
Were any of the organization’s officers, directors, or trustees either (i) appointed or elected by the supported organization(s) or (ii) serving on the governing body of a supported organization? If "No," explain in Part VI how the organization maintained a close and continuous working relationship with the supported organization(s).
2
 
 
3
By reason of the relationship described in line 2 above, did the organization’s supported organizations have a significant voice in the organization’s investment policies and in directing the use of the organization’s income or assets at all times during the tax year? If "Yes," describe in Part VI the role the organization’s supported organizations played in this regard.
3
 
 
Section E. Type III Functionally-Integrated Supporting Organizations
1
Check the box next to the method that the organization used to satisfy the Integral Part Test during the year (see instructions):
a
b
c
2
Activities Test. Answer lines 2a and 2b below.
Yes
No
a
Did substantially all of the organization’s activities during the tax year directly further the exempt purposes of the supported organization(s) to which the organization was responsive? If "Yes," then in Part VI identify those supported organizations and explain how these activities directly furthered their exempt purposes, how the organization was responsive to those supported organizations, and how the organization determined that these activities constituted substantially all of its activities.
2a
 
 
b
Did the activities described on line 2a, above constitute activities that, but for the organization’s involvement, one or more of the organization’s supported organization(s) would have been engaged in? If "Yes," explain in Part VI the reasons for the organization’s position that its supported organization(s) would have engaged in these activities but for the organization’s involvement.
2b
 
 
3
Parent of Supported Organizations. Answer lines 3a and 3b below.
a
Did the organization have the power to regularly appoint or elect a majority of the officers, directors, or trustees of each of the supported organizations?If "Yes" or "No", provide details in Part VI.
3a
 
 
b
Did the organization exercise a substantial degree of direction over the policies, programs and activities of each of its supported organizations? If "Yes," describe in Part VI. the role played by the organization in this regard.
3b
 
 
Schedule A (Form 990) 2024

Schedule A (Form 990) 2024
Page 6
Part V
Type III Non-Functionally Integrated 509(a)(3) Supporting Organizations
1
Section A - Adjusted Net Income (A) Prior Year (B) Current Year
(optional)
1 Net short-term capital gain 1    
2 Recoveries of prior-year distributions 2    
3 Other gross income (see instructions) 3    
4 Add lines 1 through 3 4    
5 Depreciation and depletion 5    
6 Portion of operating expenses paid or incurred for production or collection of gross income or for management, conservation, or maintenance of property held for production of income (see instructions) 6    
7 Other expenses (see instructions) 7    
8 Adjusted Net Income (subtract lines 5, 6 and 7 from line 4) 8    
Section B - Minimum Asset Amount (A) Prior Year (B) Current Year
(optional)
1 Aggregate fair market value of all non-exempt-use assets (see instructions for short tax year or assets held for part of year): 1
a Average monthly value of securities 1a    
b Average monthly cash balances 1b    
c Fair market value of other non-exempt-use assets 1c    
d Total (add lines 1a, 1b, and 1c) 1d    
e Discount claimed for blockage or other factors
(explain in detail in Part VI):  
2 Acquisition indebtedness applicable to non-exempt use assets 2    
3 Subtract line 2 from line 1d 3    
4 Cash deemed held for exempt use. Enter 0.015 of line 3 (for greater amount, see instructions). 4    
5 Net value of non-exempt-use assets (subtract line 4 from line 3) 5    
6 Multiply line 5 by 0.035 6    
7 Recoveries of prior-year distributions 7    
8 Minimum Asset Amount (add line 7 to line 6) 8    
Section C - Distributable Amount Current Year
1 Adjusted net income for prior year (from Section A, line 8, Column A) 1  
2 Enter 85% of line 1 2  
3 Minimum asset amount for prior year (from Section B, line 8, Column A) 3  
4 Enter greater of line 2 or line 3 4  
5 Income tax imposed in prior year 5  
6 Distributable Amount. Subtract line 5 from line 4, unless subject to emergency temporary reduction (see instructions) 6  
7
Schedule A (Form 990) 2024

Schedule A (Form 990) 2024
Page 7
Part V
Type III Non-Functionally Integrated 509(a)(3) Supporting Organizations(continued)
Section D - Distributions Current Year
1 Amounts paid to supported organizations to accomplish exempt purposes 1  
2 Amounts paid to perform activity that directly furthers exempt purposes of supported organizations, in
excess of income from activity 		2  
3 Administrative expenses paid to accomplish exempt purposes of supported organizations 3  
4 Amounts paid to acquire exempt-use assets 4  
5 Qualified set-aside amounts (prior IRS approval required - provide details in Part VI) 5  
6 Other distributions (describe in Part VI). See instructions 6  
7Total annual distributions. Add lines 1 through 6. 7  
8 Distributions to attentive supported organizations to which the organization is responsive (provide
details in Part VI). See instructions 		8  
9 Distributable amount for 2024 from Section C, line 6 9  
10 Line 8 amount divided by Line 9 amount 10  
Section E - Distribution Allocations (see instructions) (i)
Excess Distributions 		(ii)
Underdistributions
Pre-2024 		(iii)
Distributable
Amount for 2024
1 Distributable amount for 2024 from Section C, line 6  
2 Underdistributions, if any, for years prior to 2024 (reasonable cause required-- explain in Part VI).
See instructions.		  
3 Excess distributions carryover, if any, to 2024:
a From 2019.......  
b From 2020.......  
c From 2021.......  
d From 2022.......  
e From 2023.......  
fTotal of lines 3a through e  
g Applied to underdistributions of prior years  
h Applied to 2024 distributable amount  
i Carryover from 2019 not applied (see
instructions) 		 
j Remainder. Subtract lines 3g, 3h, and 3i from line 3f.  
4Distributions for 2024 from Section D, line 7:
$  
a Applied to underdistributions of prior years  
b Applied to 2024 distributable amount  
c Remainder. Subtract lines 4a and 4b from line 4.  
5 Remaining underdistributions for years prior to
2024, if any. Subtract lines 3g and 4a from line 2.
If the amount is greater than zero, explain in Part VI.
See instructions. 		 
6 Remaining underdistributions for 2024. Subtract
lines 3h and 4b from line 1. If the amount is greater
than zero, explain in Part VI. See instructions. 		 
7 Excess distributions carryover to 2025. Add lines
3j and 4c. 		 
8 Breakdown of line 7:
a Excess from 2020.....  
b Excess from 2021.....  
c Excess from 2022.....  
d Excess from 2023.....  
e Excess from 2024.....  
Schedule A (Form 990) (2024)

Schedule A (Form 990) 2024
Page 8
Part VI
Supplemental Information. Provide the explanations required by Part II, line 10; Part II, line 17a or 17b; Part III, line 12; Part IV, Section A, lines 1, 2, 3b, 3c, 4b, 4c, 5a, 6, 9a, 9b, 9c, 11a, 11b, and 11c; Part IV, Section B, lines 1 and 2; Part IV, Section C, line 1; Part IV, Section D, lines 2 and 3; Part IV, Section E, lines 1c, 2a, 2b, 3a and 3b; Part V, line 1; Part V, Section B, line 1e; Part V Section D, lines 5, 6, and 8; and Part V, Section E, lines 2, 5, and 6. Also complete this part for any additional information. (See instructions).
Facts And Circumstances Test
 
Return Reference Explanation
SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2020 AMOUNT: $ 231,845. 2021 AMOUNT: $ 274,294. 2022 AMOUNT: $ 205,138. 2023 AMOUNT: $ 231,859. 2024 AMOUNT: $ 1,895,728.
Schedule A (Form 990) 2024


Additional Data


Software ID:  
Software Version:  
Schedule B
(Form 990)
(Rev. January 2025)
Department of the Treasury
Internal Revenue Service
Schedule of Contributors

right arrow Attach to Form 990, 990-EZ, or 990-PF.
right arrow Go to www.irs.gov/Form990 for the latest information.
OMB No. 1545-0047
Name of the organization
WAKE FOREST UNIVERSITY HEALTH SCIENCES
 
Employer identification number

22-3849199
Organization type (check one):
Filers of:
Section:
Form 990 or 990-EZ
501(c)( ) (enter number) organization

4947(a)(1) nonexempt charitable trust not treated as a private foundation

527 political organization


Form 990-PF
501(c)(3) exempt private foundation

4947(a)(1) nonexempt charitable trust treated as a private foundation

501(c)(3) taxable private foundation
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
For an organization filing Form 990, 990-EZ, or 990-PF that received, during the year, contributions totaling $5,000 or more (in money or other property) from any one contributor. Complete Parts I and II. See instructions for determining a contributor's total contributions.
Special Rules
For an organization described in section 501(c)(3) filing Form 990 or 990-EZ that met the 331/3% support test of the regulations
under sections 509(a)(1) and 170(b)(1)(A)(vi), that checked Schedule A (Form 990 or 990-EZ), Part II, line 13, 16a, or 16b, and that received from any one contributor, during the year, total contributions of the greater of (1) $5,000 or (2) 2% of the amount on (i) Form 990, Part VIII, line 1h, or (ii) Form 990-EZ, line 1. Complete Parts I and II.
For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, total contributions of more than $1,000 exclusively for religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals. Complete Parts I, II, and III.
For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, contributions exclusively for religious, charitable, etc., purposes, but no such contributions totaled more than $1,000. If this box is checked, enter here the total contributions that were received during the year for an exclusively religious, charitable, etc., purpose. Don't complete any of the parts unless the General Rule applies to this organization because it received nonexclusively religious, charitable, etc., contributions totaling $5,000 or more during the year ......... Right Arrow $  
Caution: An organization that isn't covered by the General Rule and/or the Special Rules doesn't 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 doesn't 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) (Rev. 1-2025)
Schedule B (Form 990) (Rev. 1-2025) Page 2
Name of organization
WAKE FOREST UNIVERSITY HEALTH SCIENCES
  		Employer identification number
22-3849199
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


(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) (Rev. 1-2025)
Schedule B (Form 990) (Rev. 1-2025)
Page 3
Name of organization
WAKE FOREST UNIVERSITY HEALTH SCIENCES
  		Employer identification number

22-3849199
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) (Rev. 1-2025)
Schedule B (Form 990) (Rev. 1-2025)
Page 4
Name of organization
WAKE FOREST UNIVERSITY HEALTH SCIENCES
  		Employer identification number

22-3849199
Part III
Exclusively religious, charitable, etc., contributions to organizations described in section 501(c) (7), (8), or (10) that total more than $1,000 for the year from any one contributor. 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.) $  
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) (Rev. 1-2025)
Additional Data


Software ID:  
Software Version:  
SCHEDULE C
(Form 990)

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

right arrow Complete if the organization is described below. right arrow Attach to Form 990 or Form 990-EZ.
right arrowGo to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
2024
Open to Public
Inspection
If the organization answered "Yes" on 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" on 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" on Form 990, Part IV, Line 5 (Proxy Tax) (see separate instructions) or Form 990-EZ, Part V, line 35c (Proxy Tax) (see separate instructions), then
Round Bullet Section 501(c)(4), (5), or (6) organizations: Complete Part III.
Name of the organization
WAKE FOREST UNIVERSITY HEALTH SCIENCES
 
Employer identification number

22-3849199
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. See instructions for definition of “political campaign activities."

2
Political campaign activity expenditures. See instructions ....................................................................right arrow
$  
3
Volunteer hours for political campaign activities. See instructions ..................................................................
 

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 ................................right arrow
$  
2
Enter the amount of any excise tax incurred by organization managers under section 4955 .......................right arrow
$  
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 ..... right arrow
$  
2
Enter the amount of the filing organization's funds contributed to other organizations for section 527 exempt function activities ............................................................................................................................right arrow

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

$  
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-.
1
2
3
4
5
6
For Paperwork Reduction Act Notice, see the instructions for Form 990.
Cat. No. 50084S
Schedule C (Form 990) 2024

Schedule C (Form 990) 2024
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 right arrowexpenses, and share of excess lobbying expenditures).
B Check right arrow
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 separate instructions for lines 2a through 2f.)
Lobbying Expenditures During 4-Year Averaging Period
Calendar year (or fiscal year
beginning in) 		(a) 2021 (b) 2022 (c) 2023 (d) 2024 (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) 2024


Schedule C (Form 990) 2024
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 on lines 1a through 1i below, provide in Part IV a detailed description of the lobbying activity.
(a)
Yes
No
(b)
Amount
1
During the year, did the filing organization attempt to influence foreign, national, state or local legislation, including any attempt to influence public opinion on a legislative matter or referendum, through the use of:
a
Volunteers? ...........................................................................................................
 
No
b
Paid staff or management (include compensation in expenses reported on lines 1c through 1i)? ........
Yes
 
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
 
128,443
h
Rallies, demonstrations, seminars, conventions, speeches, lectures, or any similar means? ..................
 
No
 
i
Other activities? ...................................................................................................................
Yes
 
41,950
j
Total. Add lines 1c through 1i ....................................................................................................
170,393
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? ........................
 
 
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, lines 1 and 2 (see instructions), and Part ll-B, line 1. Also, complete this part for any additional information.
Return Reference Explanation
PART II-B, LINE 1: SUPPORT OF THE MEDICAL CENTER'S OFFICE OF GOVERNMENT RELATIONS, AND PRORATA PORTION OF DUES PAID TO STATE AND LOCAL 501(C)(6) ORGANIZATIONS THAT REPRESENTS LOBBYING ON BEHALF OF ITS MEMBERS. THE ORGANIZATION HAS A GOVERNMENT RELATIONS OFFICE. EMPLOYEES OF THE FILING ORGANIZATION (AND RELATED ORGANIZATION) IN THAT OFFICE WILL SOMETIMES MAKE DIRECT CONTACT WITH LEGISLATORS, THEIR STAFFS, GOVERNMENT OFFICIALS, OR A LEGISLATIVE BODY. THE OFFICE OF GOVERNMENT RELATIONS WAS ACTIVELY INVOLVED WITH SEVERAL FEDERAL AND STATE ISSUES. THE OFFICE ASSISTED IN DEVELOPING POLITICAL ADVOCACY STRATEGIES REGARDING: CENTER FOR MEDICARE AND MEDICAID (CMS) MEDICAID REGULATIONS, SITE NEUTRAL PAYMENT POLICY CHANGES, ALLIED HEALTH PASS THROUGH FUNDING, THE PRESIDENT'S FY24 BUDGET REQUEST FOCUSING ON DRUG PRICING, PROPOSED 340B PROGRAM CHANGES, PROPOSED CHANGES TO THE USE OF NONHUMAN PRIMATE MODELS IN BIOMEDICAL RESEARCH, FY24 APPROPRIATIONS INCLUDING LABOR/HEALTH AND HUMAN SERVICES (HHS) BILL AND FUNDING FOR THE NATIONAL INSTITUTES OF HEALTH (NIH), AND ADDITIONAL FUNDING FOR GRADUATE MEDICAL EDUCATION RESIDENCY SLOTS. IN ADDITION, THE OFFICE WORKED WITH THE NORTH CAROLINA CONGRESSIONAL DELEGATION ON APPROPRIATIONS RELATED TO THE DEPARTMENT OF DEFENSE THROUGH THE REAUTHORIZATION OF THE NATIONAL DEFENSE AUTHORIZATION ACT (NDAA) AS WELL AS THE DEFENSE SUBCOMMITTEE APPROPRIATIONS BILLS. THE OFFICE ALSO WORKED ON POLICIES RELATED TO TELEMEDICINE AND HOSPITAL AT HOME AT STATE AND FEDERAL LEVELS. AT THE STATE LEVEL, THE OFFICE CONTINUED TO WORK ON MEDICAID EXPANSION AND MEDICAID FINANCING. THE ORGANIZATION IS A MEMBER OF THE AMERICAN HOSPITAL ASSOCIATION (AHA), ASSOCIATION OF AMERICAN MEDICAL COLLEGES (AAMC), AND THE NORTH CAROLINA HEALTHCARE ASSOCIATION (NCHA), AMONG OTHERS. A PORTION OF THE MEMBERSHIP DUES PAID ARE ALLOCATED TO LOBBYING EFFORTS BY THOSE ORGANIZATIONS ON BEHALF OF THEIR MEMBERSHIP BODIES.
Schedule C (Form 990) 2024


Additional Data


Software ID:  
Software Version:  

SCHEDULE D
(Form 990)

Department of the Treasury
Internal Revenue Service
Supplemental Financial Statements
right arrow Complete if the organization answered "Yes," on Form 990,
Part IV, line 6, 7, 8, 9, 10, 11a, 11b, 11c, 11d, 11e, 11f, 12a, or 12b.
right arrow Attach to Form 990.
right arrow Go to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
Open to Public Inspection
Name of the organization
WAKE FOREST UNIVERSITY HEALTH SCIENCES
 
Employer identification number

22-3849199
Part I
Organizations Maintaining Donor Advised Funds or Other Similar Funds or Accounts. Complete if the organization answered "Yes" on Form 990, Part IV, line 6.
(a) Donor advised funds (b) Funds and other accounts
1 Total number at end of year .........    
2 Aggregate value of contributions to (during year)    
3 Aggregate value of 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" on 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 July 25, 2006, 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 right arrow  
4
Number of states where property subject to conservation easement is located right arrow  
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, handling of violations, and enforcing conservation easements during the year
right arrow  
7
Amount of expenses incurred in monitoring, inspecting, handling of violations, and enforcing conservation easements during the year
right arrow $  
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" on Form 990, Part IV, line 8.
1a
If the organization elected, as permitted under FASB 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 FASB 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)
Revenue included on Form 990, Part VIII, line 1 .........................right arrow $  
(ii)
Assets included in Form 990, Part X ...............................right arrow $  
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 FASB ASC 958 relating to these items:
a
Revenue included on Form 990, Part VIII, line 1 ..........................right arrow $  
b
Assets included in Form 990, Part X ...............................right arrow $  
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 52283D
Schedule D (Form 990) (Rev. 1-2025)

Schedule D (Form 990) (Rev. 1-2025)
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" on 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  
d Additions during the year ............................ 1d  
e Distributions during the year .......................... 1e  
f Ending balance ................................ 1f  
2a
Did the organization include an amount on Form 990, Part X, line 21, for escrow or custodial account liability? ...
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" on Form 990, Part IV, line 10.
(a) Current year (b) Prior year (c) Two years back (d) Three years back (e) Four years back
1a Beginning of year balance .... 824,620,041 749,496,216 810,953,445 786,210,017 501,154,228
b Contributions ... 18,113,428 57,217,765 12,163,824 5,121,186 163,605,551
c Net investment earnings, gains, and losses 70,128,625 52,477,726 -40,772,552 35,279,561 147,363,799
d Grants or scholarships ... 37,573,811 34,571,666 32,848,501 15,657,319 25,913,561
e Other expenditures for facilities
and programs ... 		         
f Administrative expenses ....          
g End of year balance ...... 875,288,283 824,620,041 749,496,216 810,953,445 786,210,017
2
Provide the estimated percentage of the current year end balance (line 1g, column (a)) held as:
a
Board designated or quasi-endowment right arrow59.880 %
b
Permanent endowment right arrow28.720 %
c
Term endowment right arrow11.400 %
The percentages on 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" on 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" on 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 .....   112,791,352 112,791,352
b Buildings ....   503,407,760 334,940,758 168,467,002
c Leasehold improvements   29,904,769 19,546,859 10,357,910
d Equipment ....   230,327,554 187,725,224 42,602,330
e Other .....   65,900,635 23,997,022 41,903,613
Total. Add lines 1a through 1e. (Column (d) must equal Form 990, Part X, column (B), line 10(c).)..right arrow 376,122,207
Schedule D (Form 990) (Rev. 1-2025)

Schedule D (Form 990) (Rev. 1-2025)
Page 3
Part VII
Investments - Other Securities.
Complete if the organization answered "Yes" on 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........    
(3) Other
(A) INVEST - ENDOWMENT		 920,897,616 F

(B) INVEST - JOINT VENTURES		 235,829,452 F

(C) INVEST - ANNUITIES & LIFE INS CONTRACTS		 469,759 F
(C)
(D)
(E)
(F)
(G)
(H)
Total. (Column (b) must equal Form 990, Part X, col. (B) line 12.)right arrow 1,157,196,827
Part VIII
Investments - Program Related. Complete if the organization answered 'Yes' on 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
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
Total. (Column (b) must equal Form 990, Part X, col.(B) line 13.)right arrow  
Part IX
Other Assets.
Complete if the organization answered 'Yes' on Form 990, Part IV, line 11d. See Form 990, Part X, line 15.
(a) Description (b) Book value
(1)OTHER INVESTMENTS 7,706,837
(2)BENEFICIAL INTEREST IN PERPETUAL TRUSTS 22,601,859
(3)FUNDS HELD UNDER RETIREMENT & BENEFIT PLANS 148,178,353
(4)OPERATING LEASES (LESS ACCUM DEPREC) 99,981,648
(4)
(5)
(6)
(7)
(8)
(9)
Total. (Column (b) must equal Form 990, Part X, col.(B) line 15.)...........right arrow 278,468,697
Part X
Other Liabilities.
Complete if the organization answered 'Yes' on Form 990, Part IV, line 11e or 11f. See Form 990, Part X, line 25.
1.(a) Description of liability (b) Book value
(1) Federal income taxes 0
PLI RESERVE 20,215,890
BOND SWAP VALUATION 638,216
OTHER LIABILITIES & DEFERRALS 56,641,286
ANNUITIES PAYABLE 3,075,904
RETIREMENT 14,061,137
OPERATING LEASE PAYABLE 104,126,987



Total. (Column (b) must equal Form 990, Part X, col.(B) line 25.)right arrow 198,759,420
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) (Rev. 1-2025)

Schedule D (Form 990) (Rev. 1-2025)
Page 4
Part XI Reconciliation of Revenue per Audited Financial Statements With Revenue per Return. Complete if the organization answered 'Yes' on Form 990, Part IV, line 12a.
1 Total revenue, gains, and other support per audited financial statements ....... 1  
2 Amounts included on line 1 but not on Form 990, Part VIII, line 12:
a Net unrealized gains (losses) on investments .... 2a  
b Donated services and use of facilities ......... 2b  
c Recoveries of prior year grants ........... 2c  
d Other (Describe in Part XIII.) ........... 2d  
e Add lines 2a through 2d ..................... 2e  
3 Subtract line 2e from line 1.................. 3  
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  
b Other (Describe in Part XIII.) ........... 4b  
c Add lines 4a and 4b.................... 4c  
5 Total revenue. Add lines 3 and 4c. (This must equal Form 990, Part I, line 12.) ...... 5  
Part XII Reconciliation of Expenses per Audited Financial Statements With Expenses per Return. Complete if the organization answered 'Yes' on Form 990, Part IV, line 12a.
1 Total expenses and losses per audited financial statements ........... 1  
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  
e Add lines 2a through 2d.................... 2e  
3 Subtract line 2e from line 1................... 3  
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  
b Other (Describe in Part XIII.) ........... 4b  
c Add lines 4a and 4b..................... 4c  
5 Total expenses. Add lines 3 and 4c. (This must equal Form 990, Part I, line 18.) ...... 5  
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 V, LINE 4: THE ORGANIZATION'S ENDOWMENT FUNDS ARE USED TO SUPPORT SCHOLARSHIPS, INSTRUCTION, RESEARCH, LIBRARIES, AND OTHER ACADEMIC/OPERATIONAL/GENERAL EXPENDITURES.
PART X, LINE 2: THE ORGANIZATION HAS EVALUATED UNCERTAIN TAX POSITIONS FOR ITS CALENDAR YEARS ENDED DECEMBER 31, 2024 AND 2023, INCLUDING A QUANTIFICATION OF TAX RISK IN AREAS SUCH AS UNRELATED BUSINESS TAXABLE INCOME AND THE TAXATION OF ITS JOINT VENTURES. THIS EVALUATION DID NOT HAVE A MATERIAL EFFECT ON THE ORGANIZATION'S FINANCIAL STATEMENTS FOR CALENDAR YEARS ENDED DECEMBER 31, 2024 AND 2023.
Schedule D (Form 990) (Rev. 1-2025)


Additional Data


Software ID:  
Software Version:  




SCHEDULE E(Form 990)
(Rev. January 2025)


Department of the Treasury
Internal Revenue Service
Schools

Right pointing arrow large image Complete if the organization answered "Yes" on 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 Go to www.irs.gov/Form990EZ for instructions and the latest information.
OMB No. 1545-0047Open to Public Inspection
Name of the organization
WAKE FOREST UNIVERSITY HEALTH SCIENCES
 
Employer identification number

22-3849199
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 on its primary publicly accessible Internet homepage at
all times during its taxable year in a manner reasonably expected to be noticed by visitors to the homepage, or 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 in 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, as modified by Rev. Proc. 2019-22, 2019-22 I.R.B. 1260, covering racial nondiscrimination? If "No," explain in Part II. . . . . . . . . . . . . . . . . . . . . . . . . .
7
Yes
 
Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 50085D
Schedule E (Form 990) (Rev. 1-2025)
Schedule E (Form 990) (Rev. 1-2025)
Page 2
Part II
Supplemental Information. Provide the explanations required by Part I, lines 3, 4d, 5h, 6b, and 7, as applicable. Also provide
any other additional information. See instructions.
Return Reference Explanation
SCHEDULE E, PART I, LINE 3 THE ORGANIZATION'S NONDISCRIMINATION POLICY IS PUBLISHED ON THE SCHOOL OF MEDICINE'S WEBSITE AND IN ITS STUDENT HANDBOOK FOR THE MD, CRNA, AND DOCTOR OF NURSING PROGRAMS, PA STUDIES, AND GRADUATE SCHOOL, IN ITS ADMISSION BROCHURES AND OTHER MEDIA MATERIALS. SEE HTTPS://SCHOOL.WAKEHEALTH.EDU/EDUCATION-AND-TRAINING/ENROLLMENT-SERVICES/ST UDENT-RIGHT-TO-KNOW; HTTPS://SCHOOL.WAKEHEALTH.EDU/EDUCATION-AND-TRAINING/STUDENT-AFFAIRS/TITLE- IX; AND HTTPS://SCHOOL.WAKEHEALTH.EDU/EDUCATION-AND-TRAINING/STUDENT-AFFAIRS/DIVERS ITY-AND-INCLUSION.
SCHEDULE E, PART I, LINE 6 THE ORGANIZATION RECEIVES FEDERAL FINANCIAL AID THROUGH THE U.S. DEPARTMENT OF EDUCATION'S FEDERAL DIRECT LOAN PROGRAM. WFUHS DISTRIBUTED THE FEDERAL LOANS TO 815 STUDENTS FOR THE YEAR ENDED DECEMBER 31, 2024.
Schedule E (Form 990) (Rev. 1-2025)
Additional Data


Software ID:  
Software Version:  
SCHEDULE F(Form 990)
(Rev. January 2025)
Department of the Treasury
Internal Revenue Service
Statement of Activities Outside the United States
Right arrow Complete if the organization answered "Yes" to Form 990, Part IV, line 14b, 15, or 16.Right arrow Attach to Form 990.Right arrow Go to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
Open to Public Inspection
Name of the organization
WAKE FOREST UNIVERSITY HEALTH SCIENCES
 
Employer identification number

22-3849199
Part I
General Information on Activities Outside the United States. Complete if the organization answered "Yes" on 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 the region (d) Activities conducted in region (by type) (such as, 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 the region		 (f) Total expenditures
for and investments
in the region
EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 0 0 PROGRAM SERVICES SUBCONTRACT FOR RESEARCH 728,815
EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 PROGRAM SERVICES SUBCONTRACT FOR RESEARCH 4,720,884
MIDDLE EAST AND NORTH AFRICA - ALGERIA, BAHRAIN, DJIBOUTI, EGYPT, 0 0 PROGRAM SERVICES SUBCONTRACT FOR RESEARCH 630,789
NORTH AMERICA - CANADA AND MEXICO, BUT NOT THE UNITED STATES 0 0 PROGRAM SERVICES SUBCONTRACT FOR RESEARCH 417,271
RUSSIA AND NEIGHBORING STATES 0 0 PROGRAM SERVICES SUBCONTRACT FOR RESEARCH 18,595
SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES SUBCONTRACT FOR RESEARCH 22,879
           
           
           
           
           
           
           
           
           
           
           
3a Sub-total .... 0 0 6,539,233
b Total from continuation sheets to Part I ... 0 0 0
c Totals (add lines 3a and 3b) 0 0 6,539,233
For Paperwork Reduction Act Notice, see the Instructions for Form 990.Cat. No. 50082W Schedule F (Form 990) (Rev. 1-2025)
Schedule F (Form 990) (Rev. 1-2025)
Page 2
Part II
Grants and Other Assistance to Organizations or Entities Outside the United States. Complete if the organization answered "Yes" on 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 noncash
assistance 		(h) Description
of noncash
assistance 		(i) Method of
valuation
(book, FMV,
appraisal, other)
EUROPE (INCLUDING ICELAND & GREENLAND) CLINICAL RESEARCH AND BASIC/OTHER RESEARCH 69,541 CHECK 0    
EAST ASIA AND THE PACIFIC NICOTINE STUDIES AND AGE RELATED CATARACTS STUDY 194,673 CHECK 0    
NORTH AMERICA BASIC RESEARCH/NON PROFIT AND STATE OTHER RESEARCH 6,534 CHECK 0    
SUB-SAHARAN AFRICA CLINICAL TRIALS/NON PROFIT AND STATE CLINICAL TRIALS 22,879 CHECK 0    
EUROPE (INCLUDING ICELAND & GREENLAND) STUDY TO UNDERSTAND THE GENETIC ARCHITECTURE OF NAFLD (NON-ALCOHOLIC FATTY LIVER DISEASE) AND LINK THEM TO GENES THAT CAN BE TARGETED FOR THERAPEUTIC INTERVENTION. 7,955 CHECK 0    
EUROPE (INCLUDING ICELAND & GREENLAND) PEDIATRIC ONCOLOGY RESEARCH 30,946 CHECK 0    
EUROPE (INCLUDING ICELAND & GREENLAND) SYSTEMS GENETICS OF ADIPOSITY TRAITS IN OUTBRED RATS 101,285 CHECK 0    
EUROPE (INCLUDING ICELAND & GREENLAND) STUDY TO DETERMINE IF NOP RECEPTORS ARE TARGETS FOR NEW MEDICATIONS FOR AUD (ALCOHOL USE DISORDER). 46,083 CHECK 0    
EUROPE (INCLUDING ICELAND & GREENLAND) CLINICAL TRIALS/NON PROFIT AND STATE CLINICAL TRIALS 5,524 CHECK 0    
EAST ASIA AND THE PACIFIC OPHTHALMOLOGY CLINICAL TRIALS 40,274 CHECK 0    
EUROPE (INCLUDING ICELAND & GREENLAND) CLINICAL AND TRANSLATIONAL SCIENCE INSTITUTE (CTSI) INDUSTRY CLINICAL TRIALS 51,098 CHECK 0    
MIDDLE EAST AND NORTH AFRICA GASTROENTEROLOGY INDUSTRY CLINICAL TRIALS 113,028 CHECK 0    
NORTH AMERICA ANESTHESIA NON PROFIT AND STATE CLINICAL RESEARCH 37,800 CHECK 0    
RUSSIA AND NEIGHBORING STATES NEPHROLOGY INDUSTRY OTHER RESEARCH 18,595 CHECK 0    
EUROPE (INCLUDING ICELAND & GREENLAND) NEUROLOGY INDUSTRY CLINICAL TRIALS 64,064 CHECK 0    
NORTH AMERICA ANESTHESIA INDUSTRY CLINICAL TRIALS 18,151 CHECK 0    
NORTH AMERICA NEUROSURGERY CLINICAL TRIALS 79,358 CHECK 0    
NORTH AMERICA ELECTROPHYSIOLOGY CLINICAL TRIALS 6,750 CHECK 0    
NORTH AMERICA GASTROINTESTINAL MEDICINE CLINICAL TRIALS 21,306 CHECK 0    
NORTH AMERICA HEMATOLOGY CLINICAL TRIALS 12,576 CHECK 0    
NORTH AMERICA CARDIOLOGY - ADULT INDUSTRY CLINICAL TRIALS 17,615 CHECK 0    
NORTH AMERICA PULMONOLOGY INDUSTRY CLINICAL TRIALS 9,500 CHECK 0    
NORTH AMERICA NEUROLOGY INDUSTRY CLINICAL TRIALS 39,424 CHECK 0    
NORTH AMERICA INFECTIOUS DISEASE CLINICAL TRIALS 13,259 CHECK 0    
EAST ASIA AND THE PACIFIC HEMATOLOGY CLINICAL TRIALS 10,357 CHECK 0    
EAST ASIA AND THE PACIFIC TRAUMA SERVICE CLINICAL TRIALS 12,190 CHECK 0    
EAST ASIA AND THE PACIFIC HEMATOLOGY AND ONCOLOGY INDUSTRY CLINICAL TRIALS 72,003 CHECK 0    
EUROPE (INCLUDING ICELAND & GREENLAND) INFUSION CLINICAL TRIALS 101,817 CHECK 0    
EUROPE (INCLUDING ICELAND & GREENLAND) SURGERY TRANSPLANT NON PROFIT AND STATE CLINICAL RESEARCH 39,809 CHECK 0    
EUROPE (INCLUDING ICELAND & GREENLAND) GERONTOLOGY INDUSTRY OTHER RESEARCH 50,000 CHECK 0    
EUROPE (INCLUDING ICELAND & GREENLAND) NEUROLOGY INDUSTRY CLINICAL TRIALS 24,124 CHECK 0    
MIDDLE EAST AND NORTH AFRICA EPIDEMIOLOGY CLINICAL TRIALS 255,409 CHECK 0    
MIDDLE EAST AND NORTH AFRICA PHYSICAL MEDICINE AND REHABILITATION CLINICAL TRIALS 83,905 CHECK 0    
MIDDLE EAST AND NORTH AFRICA CARDIOLOGY CLINICAL TRIALS 6,786 CHECK 0    
MIDDLE EAST AND NORTH AFRICA VASCULAR SERVICE INDUSTRY CLINICAL TRIALS 7,996 CHECK 0    
MIDDLE EAST AND NORTH AFRICA HEMATOLOGY AND ONCOLOGY INDUSTRY CLINICAL TRIALS 17,835 CHECK 0    
MIDDLE EAST AND NORTH AFRICA CARDIOLOGY - ADULT INDUSTRY CLINICAL TRIALS 10,684 CHECK 0    
MIDDLE EAST AND NORTH AFRICA CLINICAL AND TRANSLATIONAL SCIENCE INSTITUTE (CTSI) INDUSTRY CLINICAL RESEARCH 20,000 CHECK 0    
EAST ASIA AND THE PACIFIC SURGERY ONCOLOGY CLINICAL TRIALS 66,804 CHECK 0    
EAST ASIA AND THE PACIFIC HEMATOLOGY CLINICAL TRIALS 113,816 CHECK 0    
NORTH AMERICA NEPHROLOGY RESEARCH 155,000 CHECK 0    
EUROPE (INCLUDING ICELAND & GREENLAND) CLINICAL AND TRANSLATIONAL SCIENCE INSTITUTE (CTSI) INDUSTRY CLINICAL TRIALS 23,000 CHECK 0    
EUROPE (INCLUDING ICELAND & GREENLAND) CLINICAL AND TRANSLATIONAL SCIENCE INSTITUTE (CTSI) NON PROFIT AND STATE CLINICAL TRIALS 355,985 CHECK 0    
EUROPE (INCLUDING ICELAND & GREENLAND) CLINICAL AND TRANSLATIONAL SCIENCE INSTITUTE (CTSI) INDUSTRY CLINICAL TRIALS 724,604 CHECK 0    
EAST ASIA AND THE PACIFIC RADIATION ONCOLOGY CLINICAL TRIALS 218,698 CHECK 0    
MIDDLE EAST AND NORTH AFRICA GERONTOLOGY NON PROFIT AND STATE OTHER RESEARCH 10,000 CHECK 0    
EUROPE (INCLUDING ICELAND & GREENLAND) INFECTIOUS DISEASE INDUSTRY CLINICAL RESEARCH 302,090 CHECK 0    
EUROPE (INCLUDING ICELAND & GREENLAND) CARDIOLOGY CLINICAL TRIALS 31,254 CHECK 0    
EUROPE (INCLUDING ICELAND & GREENLAND) HEMATOLOGY/ONCOLOGY CLINICAL TRIALS 106,607 CHECK 0    
EUROPE (INCLUDING ICELAND & GREENLAND) ORTHOPEDIC SURGERY NON PROFIT AND STATE CLINICAL RESEARCH 13,710 CHECK 0    
EUROPE (INCLUDING ICELAND & GREENLAND) HEMATOLOGY AND ONCOLOGY NON PROFIT AND STATE CLINICAL RESEARCH 55,756 CHECK 0    
EUROPE (INCLUDING ICELAND & GREENLAND) RADIATION ONCOLOGY CLINICAL TRIALS 1,335,454 CHECK 0    
EUROPE (INCLUDING ICELAND & GREENLAND) PULMONOLOGY CLINICAL TRIALS 179,114 CHECK 0    
EUROPE (INCLUDING ICELAND & GREENLAND) CLINICAL TRIALS 293,236 CHECK 0    
EUROPE (INCLUDING ICELAND & GREENLAND) EMERGENCY MEDICINE INDUSTRY CLINICAL TRIALS 18,335 CHECK 0    
EUROPE (INCLUDING ICELAND & GREENLAND) NEUROLOGY INDUSTRY CLINICAL TRIALS 10,851 CHECK 0    
EUROPE (INCLUDING ICELAND & GREENLAND) CLINICAL TRIALS - LCI PEDIATRIC ONCOLOGY INDUSTRY CLINICAL TRIALS 6,500 CHECK 0    
EUROPE (INCLUDING ICELAND & GREENLAND) PUBLIC HEALTH SCIENCES-EPIDEMIOLOGY NON PROFIT AND STATE OTHER RESEARCH 47,251 CHECK 0    
EUROPE (INCLUDING ICELAND & GREENLAND) INTERNAL MEDICINE NON PROFIT AND STATE OTHER RESEARCH 624,893 CHECK 0    
MIDDLE EAST AND NORTH AFRICA HEPATOLOGY INDUSTRY CLINICAL TRIALS 105,146 CHECK 0    
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
0
3 Enter total number of other organizations or entities .......................MediumBullet
60
Schedule F (Form 990) (Rev. 1-2025)
Schedule F (Form 990) (Rev. 1-2025)Page 3
Part III
Grants and Other Assistance to Individuals Outside the United States. Complete if the organization answered "Yes" on 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
noncash
assistance 		(g) Description
of noncash
assistance 		(h) Method of
valuation
(book, FMV,
appraisal, other)
               
               
               
               
               
               
               
               
               
               
               
               
               
               
               
               
               
               
Schedule F (Form 990) (Rev. 1-2025)
Schedule F (Form 990) (Rev. 1-2025)
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 separately 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; don't file with Form 990). . . . . . . . . . . . . . . . . . . . . . . .
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 separately file Form 5713, International Boycott Report (see Instructions for Form 5713; don't file with Form 990).. . . . . . . . . . . . . . . . . . . . . . . . . . . .
Schedule F (Form 990) (Rev. 1-2025)
Schedule F (Form 990) (Rev. 1-2025)
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
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
Schedule F (Form 990) (Rev. 1-2025)
Additional Data


Software ID:  
Software Version:  



SCHEDULE G (Form 990)
(Rev. January 2025)
Department of the Treasury
Internal Revenue Service
Supplemental Information Regarding
Fundraising or Gaming Activities
Complete if the organization answered "Yes" on 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 arrowGo to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
Open to Public Inspection
Name of the organization
WAKE FOREST UNIVERSITY HEALTH SCIENCES
 
Employer identification number

22-3849199
Part I
Fundraising Activities.Complete if the organization answered "Yes" on 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 10 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
 
GRAHAM PELTON ASSOCIATES INC
39 BEECHWOOD ROAD
 
SUMMIT, NJ07901 		CAMPAIGN FEASIBILITY CONSULTING   No 0 130,500 -130,500
 
ACOUSTIC LP
1125 OAK STREET STE 201
 
CONWAY, AR72032 		CAMPAIGN COMMUNICATIONS CONSULTING   No 0 36,709 -36,709
 
DRAKE QUANTOUS LLC DBA ATTICUS TECHNOLOGY
1540 KELLER PARKWAY SUITE 108-466
 
KELLER, TX76248 		SOLICITATION CONSULTING   No 0 1,060,900 -1,060,900
             
             
             
             
             
             
             
Total . . . . . . . . . . . . . . . . . . . . right arrow   1,228,109 -1,228,109
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, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NY, NC, 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 990 or 990-EZ.
Cat. No. 50083H
Schedule G (Form 990) (Rev. 1-2025)
Schedule G (Form 990) (Rev. 1-2025)
Page 2
Part II
Fundraising Events. Complete if the organization answered "Yes" on 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.




VerticalRevenue
(a) Event #1

BCH CHEERS
(event type) 		(b) Event #2

SUMMERLARK
(event type) 		(c) Other events

 
(total number) 		(d) Total events
(add col. (a) through col. (c))

1
Gross receipts . . . . .
430,482
401,227
 
831,709

2
Less: Contributions . . . .
430,482
401,227
 
831,709
3 Gross income (line 1 minus
line 2) . . . . . .
 
 
 
 



VerticalDirectExpenses
4 Cash prizes . . . . .        
5 Noncash prizes . . . .        
6 Rent/facility costs . . . . 38,984 14,350   53,334
7 Food and beverages . . . 1,930 16,897   18,827
8 Entertainment . . . . 1,515 143,044   144,559
9 Other direct expenses . . . 53,127 85,182   138,309
10 Direct expense summary. Add lines 4 through 9 in column (d) . . . . . . . . . . right arrow 355,029
11 Net income summary. Subtract line 10 from line 3, column (d). . . . . . . . . . right arrow -355,029
Part III
Gaming. Complete if the organization answered "Yes" on 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
Noncash 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 conducts gaming activities:
a
Is the organization licensed to conduct gaming activities in each of these states? . . . . . . . .
YesNo
b
If "No," explain:
 
10a
Were any of the organization's gaming licenses revoked, suspended or terminated during the tax year? . . .
YesNo
b
If "Yes," explain:
 
Schedule G (Form 990) (Rev. 1-2025)
Schedule G (Form 990) (Rev. 1-2025)
Page 3
11
Does the organization conduct gaming activities with nonmembers? . . . . . . . . . . .
YesNo
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? . . . . . . . . . . . . . . . . .
YesNo
13
Indicate the percentage of gaming activity conducted 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 provide any additional information. See instructions.
Return Reference Explanation
Schedule G (Form 990) (Rev. 1-2025)
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Schedule I
(Form 990)
(Rev. January 2025)
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," on Form 990, Part IV, line 21 or 22.
lBullet Attach to Form 990.
lBullet Go to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
Open to Public
Inspection
Name of the organization
WAKE FOREST UNIVERSITY HEALTH SCIENCES
 
Employer identification number
22-3849199
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 Domestic Organizations and Domestic Governments. Complete if the organization answered "Yes" on 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 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
noncash assistance		 (h) Purpose of grant
or assistance
(1) GREATER HIGH POINT FOOD ALLIANCE
815 PHILLIPS AVE
HIGH POINT,NC27262 		83-3310391 501(C)(3) 47,500 0     COMMUNITY HEALTH INITIATIVE
(2) PIEDMONT TRIAD PARTNERSHIP
416 GALLIMORE DAIRY ROAD SUITE M
GREENSBORO,NC27409 		56-1750279 501(C)(3) 50,000 0     COMMUNITY HEALTH INITIATIVE
(3) UROLOGY CARE FOUNDATION INC
1000 CORPORATE BLVD
LINTHICUM,MD21090 		20-3210212 501(C)(3) 5,500 0     COMMUNITY HEALTH INITIATIVE
(4) WILKES COUNTY HEALTH DEPARTMENT
306 COLLEGE STREET
WILKESBORO,NC28697 		56-6000350 GOVERNMENT 139,868 0     COMMUNITY HEALTH INITIATIVE
(5) CANCER SERVICES INC
3175 MAPLEWOOD AVENUE
WINSTONSALEM,NC27103 		56-0656375 501(C)(3) 10,000 0     COMMUNITY HEALTH INITIATIVE
(6) ACTION4EQUITY INC
1922 S MARTIN LUTHER KING JR DR
SUITE 208
WINSTONSALEM,NC27101 		83-1583999 501(C)(3) 30,257 0     COMMUNITY HEALTH INITIATIVE
(7) LEXINGTON MEDICAL CENTER FOUNDATION INC
250 HOSPITAL DRIVE
LEXINGTON,NC27293 		58-1876553 501(C)(3) 18,275 0     SUPPORT
2
Enter total number of section 501(c)(3) and government organizations listed in the line 1 table ................. Bullet Image
7
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) Rev. 1-2025

Schedule I (Form 990) Rev. 1-2025
Page 2
Part III
Grants and Other Assistance to Domestic Individuals. Complete if the organization answered "Yes" on 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
noncash assistance		 (e) Method of valuation (book,
FMV, appraisal, other)		 (f) Description of noncash assistance
(1) SCHOLARSHIPS AND FELLOWSHIPS 951 36,176,171      
(2) ASSISTANCE TO PATIENTS - FINANCIAL ASSISTANCE 57 43,491      
(3) ASSISTANCE TO PATIENTS - TRANSPORTATION 44 7,089      
(4) EMPLOYEE EMERGENCY FUND 100 82,715      
(4)
(5)
(6)
(7)
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
PART I, LINE 2: THE ORGANIZATION FOLLOWS THE MEDICAL CENTER'S CORPORATE POLICY IN REVIEWING THE ELIGIBILITY AND SELECTION OF GRANTEES RECEIVING CERTAIN EXEMPT PURPOSE FUNDS. THE ORGANIZATION MAINTAINS DOCUMENTATION OF THE ELIGIBILITY AND SELECTION CRITERIA AND RECORDS OF THE AMOUNTS DISBURSED.
SCHEDULE I, PART III, GRANTS & OTHER ASSISTANCE TO DOMESTIC INDIVIDUALS THE ORGANIZATION MONITORS THE ACADEMIC PROGRESS AND OTHER ACHIEVEMENTS OF STUDENTS RECEIVING SCHOLARSHIPS AND FELLOWSHIPS.
Schedule I (Form 990) Rev. 1-2025



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Schedule J
(Form 990)
(Rev. January 2025)
Department of the Treasury
Internal Revenue Service
Compensation Information
For certain Officers, Directors, Trustees, Key Employees, and Highest
Compensated Employees
medium right arrow graphic Complete if the organization answered "Yes" on Form 990, Part IV, line 23.
medium right arrow graphic Attach to Form 990.
medium right arrow graphic Go to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
Open to Public Inspection
Name of the organization
WAKE FOREST UNIVERSITY HEALTH SCIENCES
 
Employer identification number

22-3849199
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 on 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 on 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
 
 
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 on Line 1a? ....
2
 
 
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 on 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), 501(c)(4), and 501(c)(29) organizations must complete lines 5-9.
5
For persons listed on 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," on line 5a or 5b, describe in Part III.
6
For persons listed on 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," on line 6a or 6b, describe in Part III.
7
For persons listed on Form 990, Part VII, Section A, line 1a, did the organization provide any nonfixed
payments not described in lines 5 and 6? If "Yes," describe in Part III ............
7
Yes
 
8
Were any amounts reported on 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" on line 8, did the organization also follow the rebuttable presumption procedure described in Regulations section 53.4958-6(c)? .........................
9
 
 
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50053T
Schedule J (Form 990) (Rev. 1-2025)

Schedule J (Form 990) (Rev. 1-2025)
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 on 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, 1099-MISC compensation, and/or 1099-NEC (C) Retirement and other deferred compensation (D) Nontaxable
benefits		 (E) Total of columns
(B)(i)-(D) 		(F) Compensation in column (B) reported as deferred on prior Form 990
(i) Base
compensation 		(ii) Bonus & incentive
compensation 		(iii) Other reportable compensation
1JULIE ANN FREISCHLAG MD
DIRECTOR, CEO AHWFB 		(i)

(ii)		 2,476,070
-------------
0 		4,358,126
-------------
0 		760,433
-------------
0 		19,092
-------------
0 		20,999
-------------
0 		7,634,720
-------------
0 		688,380
-------------
0
2BRADLEY A CLARK
EVP, TREASURER 		(i)

(ii)		 1,697,429
-------------
0 		713,004
-------------
0 		103,270
-------------
0 		258,840
-------------
0 		29,172
-------------
0 		2,801,715
-------------
0 		82,599
-------------
0
3TERRY G WILLIAMS
FORMER OFFICER 		(i)

(ii)		 952,718
-------------
0 		1,207,345
-------------
0 		44,379
-------------
0 		211,906
-------------
0 		33,320
-------------
0 		2,449,668
-------------
0 		0
-------------
0
4EDWARD H KINCAID MD
ACADEMIC FACULTY PHYSICIAN - CHAIR 		(i)

(ii)		 1,600,403
-------------
0 		123,380
-------------
0 		27,682
-------------
0 		22,928
-------------
0 		22,883
-------------
0 		1,797,276
-------------
0 		0
-------------
0
5L EBONY BOULWARE MD
DEAN, WFU SCHOOL OF MEDICINE 		(i)

(ii)		 846,346
-------------
0 		866,068
-------------
0 		4,682
-------------
0 		22,962
-------------
0 		12,631
-------------
0 		1,752,689
-------------
0 		0
-------------
0
6ANTHONY ATALA MD
ACADEMIC FACULTY PHYSICIAN - CHAIR 		(i)

(ii)		 1,238,093
-------------
0 		264,451
-------------
0 		198,828
-------------
0 		22,515
-------------
0 		14,228
-------------
0 		1,738,115
-------------
0 		162,000
-------------
0
7KENNETH LENNON MD
CLIN ADJ FACULTY 		(i)

(ii)		 0
-------------
1,651,355 		0
-------------
0 		0
-------------
4,682 		0
-------------
22,834 		0
-------------
21,127 		0
-------------
1,699,998 		0
-------------
0
8RUBEN MESA
SRVP & ED COMP CANCER, PRES ENTERPRI 		(i)

(ii)		 1,075,287
-------------
0 		493,388
-------------
0 		32,574
-------------
0 		25,992
-------------
0 		17,552
-------------
0 		1,644,793
-------------
0 		0
-------------
0
9SUSAN R WENTE PHD
DIRECTOR, PRESIDET WFU 		(i)

(ii)		 0
-------------
1,129,530 		0
-------------
32,250 		0
-------------
67,802 		0
-------------
288,531 		0
-------------
74,904 		0
-------------
1,593,017 		0
-------------
0
10DAVID ZHAO MD
ACADEMIC FACULTY PHYSICIAN - SECTION 		(i)

(ii)		 881,180
-------------
0 		169,919
-------------
0 		498,423
-------------
0 		24,197
-------------
0 		13,452
-------------
0 		1,587,171
-------------
0 		475,163
-------------
0
11TERRY L HALES JR
ASSISTANT TREASURER 		(i)

(ii)		 576,900
-------------
0 		617,413
-------------
0 		116,487
-------------
0 		22,781
-------------
0 		29,753
-------------
0 		1,363,334
-------------
0 		90,046
-------------
0
12DAVID ZAAS MD
PRESIDENT HEALTH SYSTEM 		(i)

(ii)		 966,108
-------------
0 		322,398
-------------
0 		25,504
-------------
0 		24,505
-------------
0 		15,664
-------------
0 		1,354,179
-------------
0 		0
-------------
0
13KEVIN P HIGH MD
FORMER OFFICER 		(i)

(ii)		 340,084
-------------
0 		862,143
-------------
0 		74,969
-------------
0 		21,840
-------------
0 		23,310
-------------
0 		1,322,346
-------------
0 		46,500
-------------
0
14LISA M MARSHALL
VP, CHIEF PHIL OFF 		(i)

(ii)		 0
-------------
437,593 		0
-------------
156,899 		0
-------------
379,941 		0
-------------
24,163 		0
-------------
7,212 		0
-------------
1,005,808 		0
-------------
374,244
15BRIAN A WHITE
CORPORATE SECRETARY 		(i)

(ii)		 0
-------------
611,099 		0
-------------
58,000 		0
-------------
11,865 		0
-------------
17,250 		0
-------------
38,786 		0
-------------
737,000 		0
-------------
0
16STEPHAN L LILLIE
SVP & CFO 		(i)

(ii)		 0
-------------
409,266 		0
-------------
256,504 		0
-------------
869 		0
-------------
25,707 		0
-------------
36,339 		0
-------------
728,685 		0
-------------
0
17J REID MORGAN
FORMER OFFICER 		(i)

(ii)		 0
-------------
366,986 		0
-------------
39,600 		0
-------------
5,696 		0
-------------
34,500 		0
-------------
22,918 		0
-------------
469,700 		0
-------------
0
Schedule J (Form 990) (Rev. 1-2025)

Schedule J (Form 990) (Rev. 1-2025)
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 3 THE ADVOCATE HEALTH COMPENSATION AND BENEFITS COMMITTEE ("THE COMMITTEE") OF THE ADVOCATE HEALTH, INC. BOARD OF DIRECTORS ("THE BOARD") HAS AUTHORITY AS THE BOARD DELEGATES TO IT, FOR THE REVIEW AND APPROVAL OF EXECUTIVE COMPENSATION. THE COMMITTEE RELIES UPON AN EXTERNAL, INDEPENDENT COMPENSATION CONSULTANT RETAINED DIRECTLY BY THE COMMITTEE TO PROVIDE THIRD-PARTY COMPENSATION COMPARABILITY DATA FOR EVALUATING THE COMPETITIVENESS AND REASONABLENESS OF EXECUTIVE COMPENSATION AND BENEFITS PROGRAMS RELATIVE TO MARKET PRACTICES FOR SIMILARLY SITUATED HEALTHCARE ORGANIZATIONS. IN EVALUATING COMPENSATION, THE COMMITTEE FOLLOWS CORPORATE GOVERNANCE BEST PRACTICE SUCH AS ADHERENCE TO THE COMPANY'S EXECUTIVE COMPENSATION PHILOSOPHY AND REVIEW PROCESSES; PROCESSES TO ENSURE COMMITTEE MEMBER AND COMPENSATION CONSULTANT INDEPENDENCE; DATA FROM HEALTHCARE ORGANIZATIONS OF COMPARABLE SIZE, STRUCTURE, AND COMPLEXITY; AND ESTABLISHMENT OF THE REBUTTABLE PRESUMPTION OF REASONABLENESS, PER IRS GUIDELINES. MINUTES OF THE DELIBERATIONS OF THE COMMITTEE ARE MAINTAINED IN THE ADVOCATE HEALTH, INC. LEGAL DEPARTMENT.
PART I, LINE 4B CERTAIN DIRECTORS, OFFICERS, AND/OR HIGHLY COMPENSATED EMPLOYEES OF THE FILING ORGANIZATION PARTICIPATED IN AND/OR RECEIVED PAYMENTS FROM A NON-QUALIFIED DEFERRED COMPENSATION PLAN (RESTORATION OR SERP) AND/OR RECEIVED PAYMENTS FOR SEVERANCE. THE DETERMINATION OF THE PAYMENT AMOUNT FROM NON-QUALIFIED DEFERRED COMPENSATION PLANS FOLLOWED THE EMPLOYMENT ORGANIZATION'S COMPENSATION PROCEDURES. THE FOLLOWING DIRECTORS, OFFICERS, AND/OR HIGHLY COMPENSATED EMPLOYEES RECEIVED PAYMENTS FOR SEVERANCE AND/OR PAYMENTS FROM NON-QUALIFIED DEFERRED COMPENSATION PLANS DURING THE CURRENT TAX YEAR: SEVERANCE PAYMENTS: NONE NON-QUALIFIED DEFERRED COMPENSATION PAYMENTS: ANTHONY ATALA, MD 162,000 BRADLEY A. CLARK 82,599 JULIE FREISCHLAG, MD 688,380 TERRY L. HALES, JR. 90,046 KEVIN HIGH, MD 46,500 LISA M. MARSHALL 374,244
PART I, LINE 7 CERTAIN OFFICERS, KEY EMPLOYEES AND FACULTY MEMBERS HAVE INCENTIVE COMPENSATION COMPONENTS CONTAINED IN THEIR EMPLOYMENT AGREEMENTS. THESE ARE OFTEN GOAL-BASED AND ARE DETERMINED IN THE COURSE OF EVALUATION OF THE INDIVIDUAL'S PERFORMANCE BY HIS/HER DEPARTMENT CHAIR, SUPERVISOR OR THE COMPENSATION COMMITTEE OF THE BOARD, AS APPLICABLE.
FORM 990, PART VII, LINE 5 - COMPENSATION FROM UNRELATED ORGANIZATIONS THE FOLLOWING OFFICERS WERE COMPENSATED BY THE CHARLOTTE-MECKLENBURG HOSPITAL AUTHORITY (CMHA, DOING BUSINESS AS ATRIUM HEALTH), AN AFFILIATED BUT UNRELATED ORGANIZATION, FOR SERVICES RENDERED TO THE ORGANIZATION. SEE PART VII AND SCHEDULE J, PART II FOR THEIR COMPENSATION. BRADLEY A. CLARK TERRY G. WILLIAMS
Schedule J (Form 990) (Rev. 1-2025)

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Schedule K
(Form 990)
Department of the Treasury
Internal Revenue Service
Supplemental Information on Tax-Exempt Bonds
Complete if the organization answered "Yes" to Form 990, Part Ⅵ, line 24a. Provide descriptions,
explanations, and any additional information in Part Ⅵ.
Attach to Form 990.
Go to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
Open to Public
Inspection
Name of the organization
WAKE FOREST UNIVERSITY HEALTH SCIENCES
 
Employer identification number
22-3849199
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 NORTH CAROLINA MEDICAL CARE COMMISSION
  		52-1309402 65821DNF4 11-15-2012 129,019,661 CURRENT REFUND ISSUE DTD 10/16/08   X   X   X
B NORTH CAROLINA MEDICAL CARE COMMISSION
  		52-1309402 65821DWH0 03-07-2019 45,655,000 VARIOUS CAPITAL PROJECTS   X   X   X
Part Ⅱ
Proceeds
A B C D
1 Amount of bonds retired .................. 51,200,000 13,125,000    
2 Amount of bonds legally defeased ..............        
3 Total proceeds of issue .................. 129,019,661 46,053,368    
4 Gross proceeds in reserve funds .............        
5 Capitalized interest from proceeds .............        
6 Proceeds in refunding escrows ...............        
7 Issuance costs from proceeds ............... 568 398,368    
8 Credit enhancement from proceeds .............        
9 Working capital expenditures from proceeds .............        
10 Capital expenditures from proceeds .............        
11 Other spent proceeds ............. 129,019,093 45,655,000    
12 Other unspent proceeds .............        
13 Year of substantial completion ............. 2012 2019
Yes No Yes No Yes No Yes No
14 Were the bonds issued as part of a current refunding issue of tax-exempt
bonds (or, if issued prior to 2020, a current refunding issue)? ........ 		X     X        
15 Were the bonds issued as part of an advance refunding issue of taxable
bonds (or, if issued prior to 2020, an advance refunding issue)? ........ 		  X X          
16 Has the final allocation of proceeds been made? .......... X   X          
17 Does the organization maintain adequate books and records to support the final allocation of proceeds? .................. X   X          
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50193E
Schedule K (Form 990) (Rev. 1-2025)

Schedule K (Form 990) (Rev. 1-2025)
Page 2
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   X        
2 Are there any lease arrangements that may result in private business use of bond-financed property? ............... X   X          
3a Are there any management or service contracts that may result in private business use of bond-financed property? ............. X   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   X          
c Are there any research agreements that may result in private business use of bond-financed property? .............   X   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?                
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 .... 0.100 % 0.100 %    
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 ......... 0 % 0 %    
6 Total of lines 4 and 5 ............. 0.100 % 0.100 %    
7 Does the bond issue meet the private security or payment test? ...   X   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   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? .............                
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   X          
Part Ⅳ
Arbitrage
A B C D
Yes No Yes No Yes No Yes No
1 Has the issuer filed Form 8038-T, Arbitrage Rebate, Yield Reduction and Penalty in Lieu of Arbitrage Rebate? ...   X   X        
2 If "No" to line 1, did the following apply? ....
a Rebate not due yet? .......   X   X        
b Exception to rebate? ........ X     X        
c No rebate due? .........   X X          
If "Yes" to line 2c, provide in Part Ⅵ the date the rebate
computation was performed ......
3 Is the bond issue a variable rate issue? .....   X X          
Schedule K (Form 990) (Rev. 1-2025)

Schedule K (Form 990) (Rev. 1-2025)
Page 3
Part Ⅳ
Arbitrage (Continued)
A B C D
Yes No Yes No Yes No Yes No
4a Has the organization or the governmental issuer entered into a qualified hedge with respect to the bond issue?   X   X        
b Name of provider ..........  
  		 
  		 
  		 
 
c Term of hedge .........        
d Was the hedge superintegrated? ......                
e Was the hedge terminated? ........                
5a Were gross proceeds invested in a guaranteed investment contract (GIC)?   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        
7 Has the organization established written procedures to monitor the requirements of section 148? ... 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          
Part Ⅵ
Supplemental Information. Provide additional information for responses to questions on Schedule K. (See instructions).
Return Reference Explanation
PART I, ROW B, COLUMN F: THE PURPOSE OF THE ISSUE WAS TO REFUND A 2017 FINANCING ISSUED ON 10/2/2017, WHICH WAS USED TO REFUND THE WFUHS 2012C ISSUE.
PART I, ROW B, COLUMN E: THE SERIES 2019 ISSUE WAS ISSUED AS ONE ISSUE FOR FEDERAL TAX PURPOSES IN THE AMOUNT OF $212,563,368. THE AMOUNT OF $46,053,368 IS THE PORTION OF THE ISSUE WAKE FOREST UNIVERSITY HEALTH SCIENCES IS RESPONSIBLE FOR. THE OTHER PORTIONS OF THE ISSUE ARE REPORTED ON SCHEDULE K OF FORM 990 FOR NORTH CAROLINA BAPTIST HOSPITAL ($73,819,143) AND WAKE FOREST UNIVERSITY BAPTIST MEDICAL CENTER ($92,690,857).
PART II, LINE 11 COLUMNS A & B: THE OTHER SPENT PROCEEDS LISTED ARE THE REFUNDING PROCEEDS OF THE ISSUE THAT ARE NO LONGER IN ESCROW.
PART III, COLUMN A: THE SERIES 2012B REFUNDED AN ISSUE DATED 10/16/2008. THE SOLE PURPOSE OF THE 2008 ISSUE WAS THE REFUNDING OF ISSUES DATED PRIOR TO 12/31/2002. ACCORDINGLY, THE ISSUE IS EXEMPT FROM COMPLETING PART III OF SCHEDULE K.
PART IV, LINE 2C, COLUMN B: A REBATE CALCULATION WAS PERFORMED, WITH NO REBATE BEING DUE ON 3/7/22.
Schedule K (Form 990) (Rev. 1-2025)

Additional Data


Software ID:  
Software Version:  

SCHEDULE M
(Form 990)

Department of the Treasury
Internal Revenue Service
Noncash Contributions
Right pointing arrow large image Complete 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 image Go to www.irs.gov/Form990 for the latest information.
OMB No. 1545-0047
2024
Open to Public Inspection
Name of the organization
WAKE FOREST UNIVERSITY HEALTH SCIENCES
 
Employer identification number

22-3849199
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 ....        
2 Art—Historical treasures .        
3 Art—Fractional interests ..        
4 Books and publications ..      
5 Clothing and household
goods ....... 		X 300  
6 Cars and other vehicles ..        
7 Boats and planes ....        
8 Intellectual property ...        
9 Securities—Publicly traded . X 33 1,407,499 FMV
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 .        
16 Real estate—Commercial ..        
17 Real estate—Other ... X   567,000  
18 Collectibles .....        
19 Food inventory ... X   100  
20 Drugs and medical supplies .        
21 Taxidermy ......        
22 Historical artifacts ....        
23 Scientific specimens ..        
24 Archeological artifacts ...        
25 Other Right pointing arrow large image ( )
26 Other Right pointing arrow large image ( )
27 Other Right pointing arrow large image ( )
28 Other Right pointing arrow large image ( )
29
Number of Forms 8283 received by the organization during the tax year for contributions
for which the organization completed Form 8283, Part IV, Donee Acknowledgement
29
0
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 isn't 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 nonstandard 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 didn't 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) (2024)
Schedule M (Form 990) (2024)
Page 2
Part IISupplemental 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, COLUMN (B): THE ORGANIZATION DETERMINES THE NUMBER OF CONTRIBUTIONS BY USING THE TOTAL NUMBER OF NON-CASH ITEMS RECEIVED PER DONOR BY OCCURRENCE.
PART I, LINE 32B: THE FILING ORGANIZATION SOMETIMES USES A RELATED ORGANIZATION, WAKE FOREST UNIVERSITY DEVELOPMENT FOUNDATION, TO SELL GIFTS OF DONATED REAL PROPERTY.
Schedule M (Form 990) (2024)

Additional Data


Software ID:  
Software Version:  
SCHEDULE O
(Form 990)
(Rev. January 2025)
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 990-EZ or to provide any additional information.
Attach to Form 990 or 990-EZ.
 Go to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
Open to Public
Inspection
Name of the organization
WAKE FOREST UNIVERSITY HEALTH SCIENCES
 
Employer identification number

22-3849199
Return Reference Explanation
PART III, LINE 4, PROGRAM SERVICE ACCOMPLISHMENTS WAKE FOREST UNIVERSITY HEALTH SCIENCES (WFUHS) IS AN INTEGRAL PART OF ATRIUM HEALTH WAKE FOREST BAPTIST (AHWFB), A PREEMINENT ACADEMIC HEALTH SYSTEM OF THE HIGHEST QUALITY WITH BALANCED EXCELLENCE IN PATIENT CARE, RESEARCH, AND EDUCATION THAT PROMOTES BETTER HEALTH FOR ALL THROUGH COLLABORATION AND INNOVATION. THE FOLLOWING PARAGRAPHS ARE PROVIDED TO EXPLAIN THE RELATIONSHIP OF THE FILING ORGANIZATION WITH OTHER ORGANIZATIONS WHICH TOGETHER COMPRISE "ATRIUM HEALTH WAKE FOREST BAPTIST," THE NAME NOT OF ANY ONE CORPORATE ENTITY, BUT USED GENERICALLY TO DESCRIBE A LARGE GROUP OF MOSTLY 501(C)(3) ORGANIZATIONS PERFORMING VARIOUS ACADEMIC HEALTH SYSTEM ACTIVITIES IN NORTHWEST NORTH CAROLINA, INCLUDING PATIENT CARE, MEDICAL RESEARCH, TECHNOLOGY TRANSFER, AND MEDICAL EDUCATION. WAKE FOREST UNIVERSITY BAPTIST MEDICAL CENTER (WFUBMC) IS A NORTH CAROLINA NONPROFIT CORPORATION WHOSE THREE MEMBERS ARE WAKE FOREST UNIVERSITY (WFU), NORTH CAROLINA BAPTIST HOSPITAL (NCBH) AND ATRIUM HEALTH, INC. (EACH OF WHICH IS A NORTH CAROLINA NONPROFIT CORPORATION EXEMPT FROM TAX UNDER IRC SECTION 501(C)(3)). PURSUANT TO AN AGREEMENT, INITIALLY ENTERED INTO ON JULY 1, 2010, AND SUBSEQUENTLY AMENDED AND RESTATED MULTIPLE TIMES INCLUDING, EFFECTIVE OCTOBER 9, 2020, AND AS AMENDED FEBRUARY 24, 2021 TO ADD ATRIUM HEALTH, INC. AS A PARTY THERETO (INITIALLY KNOWN AS THE MEDICAL CENTER INTEGRATION AGREEMENT AND NOW AS THE AMENDED AND RESTATED MEDICAL CENTER INTEGRATION AGREEMENT OR THE MCIA), WFUBMC IS THE OVERALL UMBRELLA OPERATING ENTITY OF THE ATRIUM HEALTH SYSTEM'S NORTHWEST NORTH CAROLINA COMPONENT ENTITIES. NORTH CAROLINA BAPTIST HOSPITAL AND WAKE FOREST UNIVERSITY HEALTH SCIENCES AND THEIR RESPECTIVE SUBSIDIARIES ARE OPERATED, PURSUANT TO DELEGATIONS IN THE MCIA, BY WFUBMC AS "ATRIUM HEALTH WAKE FOREST BAPTIST." THE FILING ORGANIZATION, IN TURN, OPERATES THE WAKE FOREST UNIVERSITY SCHOOL OF MEDICINE. ON OCTOBER 9, 2020, THE CHARLOTTE MECKLENBURG HOSPITAL AUTHORITY (CMHA), WAKE FOREST UNIVERSITY, NCBH, WFUHS, AND THE FILING ORGANIZATION FORMED A SINGLE, INTEGRATED HEALTH CARE DELIVERY SYSTEM THROUGH A JOINT OPERATING COMPANY, ATRIUM HEALTH, INC. (A NORTH CAROLINA NONPROFIT CORPORATION PREVIOUSLY ORGANIZED BY CMHA AND WFUBMC). THROUGH THIS HEALTH CARE SYSTEM INTEGRATION AND PURSUANT TO AN AGREEMENT KNOWN AS THE "ENTERPRISE AGREEMENT," ATRIUM HEALTH, INC. MANAGES AND OVERSEES THE BUSINESS, FACILITIES, SERVICES, PERSONNEL, AND ACTIVITIES OF CMHA AND WFUBMC (COLLECTIVELY THE "ATRIUM ENTERPRISE"). THE ATRIUM ENTERPRISE ENCOMPASSES 40 HOSPITALS, INCLUDING FOUR CHILDREN'S CAMPUSES, AND MORE THAN 500 CARE SITES ACROSS NORTH CAROLINA, SOUTH CAROLINA, GEORGIA, AND VIRGINIA. NOTE THAT THE FOLLOWING NARRATIVE INCLUDES IN SOME OF ITS DESCRIPTIONS THE ADDITIONAL OPERATIONS OF THE ATRIUM ENTERPRISE THROUGH DAVIE MEDICAL CENTER (TRADING AS ATRIUM HEALTH WAKE FOREST BAPTIST DAVIE MEDICAL CENTER), HIGH POINT REGIONAL HEALTH (TRADING AS ATRIUM HEALTH WAKE FOREST BAPTIST HIGH POINT MEDICAL CENTER), LEXINGTON MEDICAL CENTER (TRADING AS ATRIUM HEALTH WAKE FOREST BAPTIST LEXINGTON MEDICAL CENTER), WRMC HOSPITAL OPERATING CORPORATION (TRADING AS ATRIUM HEALTH WAKE FOREST BAPTIST WILKES MEDICAL CENTER), AND WAKE FOREST HEALTH NETWORK LLC, THE SOLE MEMBER OF EACH OF WHICH IS WFUBMC, AS WELL AS ORGANIZATIONS RELATED TO (OR UNRELATED BUT AFFILIATED WITH) WFUBMC, IN ORDER TO PROVIDE A MORE COMPLETE PICTURE OF THE FILING ORGANIZATION'S ROLE IN THE INTEGRATED HEALTH SYSTEM'S COMPREHENSIVE ACTIVITIES. ATRIUM HEALTH WAKE FOREST BAPTIST IS NORTHWEST NORTH CAROLINA'S SOLE ACADEMIC LEARNING HEALTH SYSTEM, BRINGING TO THE REGION THE RESOURCES OF ONE OF AMERICA'S TOP HOSPITALS AND INNOVATIVE RESEARCH CENTERS AND A PREMIER MEDICAL SCHOOL, LOCATED ON THREE CAMPUSES. IT OPERATES THE WAKE FOREST UNIVERSITY SCHOOL OF MEDICINE, WHICH HAS A FACULTY OF OVER 3,000, INCLUDING PHYSICIANS AND BASIC SCIENTISTS WITH FULL OR ADJUNCT APPOINTMENTS. IN ADDITION TO THIS FACULTY, THE WAKE FOREST HEALTH NETWORK HAS MORE THAN 160 CLINICAL PRACTICES THROUGHOUT CENTRAL AND WESTERN NORTH CAROLINA. ATRIUM HEALTH WAKE FOREST BAPTIST HAS 1,510 LICENSED ACUTE CARE AND REHABILITATION BEDS ACROSS THE SYSTEM, WHICH ENCOMPASSES ATRIUM HEALTH WAKE FOREST BAPTIST MEDICAL CENTER ON ITS MAIN WINSTON-SALEM CAMPUS (885 BEDS), ATRIUM HEALTH WAKE FOREST BAPTIST HIGH POINT MEDICAL CENTER (351 BEDS), ATRIUM HEALTH WAKE FOREST BAPTIST LEXINGTON MEDICAL CENTER (94 BEDS), ATRIUM HEALTH WAKE FOREST BAPTIST DAVIE MEDICAL CENTER (50 BEDS), AND ATRIUM HEALTH WAKE FOREST BAPTIST WILKES MEDICAL CENTER (130 BEDS). ATRIUM HEALTH WAKE FOREST BAPTIST ALSO INCLUDES THE COMPREHENSIVE CANCER CENTER, WHICH IS DESIGNATED AS SUCH BY THE NATIONAL CANCER INSTITUTE, AND BRENNER CHILDREN'S HOSPITAL. OVERALL, ATRIUM HEALTH WAKE FOREST BAPTIST SERVES A 24-COUNTY REGION IN NORTHWESTERN NORTH CAROLINA AND SOUTHWESTERN VIRGINIA AND DRAWS PATIENTS FROM ACROSS THE NATION FOR SELECT SERVICES. ATRIUM HEALTH WAKE FOREST BAPTIST IS THE DRIVING FORCE BEHIND THE ESTABLISHMENT OF INNOVATION QUARTER, A GROWING URBAN-BASED DISTRICT FOR RESEARCH, BUSINESS, AND EDUCATION IN BIOMEDICAL SCIENCE, INFORMATION TECHNOLOGY, CLINICAL SERVICES, AND ADVANCED MATERIALS. LOCATED IN DOWNTOWN WINSTON-SALEM, IT IS HOME TO MORE THAN 90 COMPANIES, FIVE LEADING ACADEMIC INSTITUTIONS, 3,600 WORKERS, AND 1,800 STUDENTS. GROUNDBREAKING RESEARCH AT THE WAKE FOREST UNIVERSITY SCHOOL OF MEDICINE ALSO INCLUDES WAKE FOREST INNOVATIONS, A COMMERCIALIZATION ENTERPRISE FOCUSED ON ADVANCING HEALTH CARE THROUGH NEW MEDICAL TECHNOLOGIES AND BIOMEDICAL DISCOVERY. ADVOCATE AURORA HEALTH AND ATRIUM HEALTH FORMALLY COMBINED IN DECEMBER 2022 TO CREATE ADVOCATE HEALTH. IN ADDITION TO DELIVERING THE BEST HEALTH OUTCOMES AND MAKING CARE MORE ACCESSIBLE AND AFFORDABLE, ADVOCATE HEALTH IS COMMITTED TO BRINGING MEDICAL INNOVATIONS TO PATIENTS MORE QUICKLY, ADDRESSING THE ROOT CAUSES OF HEALTH INEQUITIES, ADVANCING POPULATION HEALTH, ENABLING CAREER ADVANCEMENT, AND ACHIEVING CARBON NEUTRALITY BY 2030. ADVOCATE HEALTH IS HEADQUARTERED IN CHARLOTTE, NC, WHILE MAINTAINING A STRONG PRESENCE IN THE CHICAGO, IL AND MILWAUKEE, WI AREAS, INCLUDING A PLANNED, NEW, MILWAUKEE-BASED INSTITUTE FOR HEALTH EQUITY. THE ADVOCATE HEALTH CARE, ATRIUM HEALTH, AND AURORA HEALTH CARE BRANDS WILL CONTINUE TO BE USED IN THEIR RESPECTIVE LOCAL COMMUNITIES, WITH WFUBMC, PRINCIPALLY THROUGH THE WAKE FOREST UNIVERSITY SCHOOL OF MEDICINE, SERVING AS THE ACADEMIC CORE OF THE COMBINED ENTITY. ADVOCATE HEALTH HAS OVER 162,000 TEAMMATES AND SERVES NEARLY 6 MILLION PATIENTS ANNUALLY AS THE THIRD-LARGEST NONPROFIT INTEGRATED HEALTH SYSTEM IN THE NATION. THE NEWLY COMBINED ORGANIZATION COMPRISES MORE THAN 1,000 SITES OF CARE AND 69 HOSPITALS WITH MORE THAN 35,000 PHYSICIANS AND NEARLY 42,000 NURSES. THE HEALTH SYSTEM DELIVERED $6.189 BILLION OF TOTAL COMMUNITY BENEFIT IN 2024. IN JANUARY 2023, A GROUNDBREAKING CEREMONY WAS HELD AT THE WAKE FOREST UNIVERSITY SCHOOL OF MEDICINE'S SECOND CAMPUS, LOCATED IN THE PEARL INNOVATION DISTRICT IN UPTOWN CHARLOTTE. THE SCHOOL WILL ANCHOR THE HOWARD R. LEVINE CENTER FOR EDUCATION, WHERE CAROLINAS COLLEGE OF HEALTH SCIENCES WILL JOIN IT, ALONG WITH CONNECTIONS TO WAKE FOREST UNIVERSITY'S SCHOOL OF PROFESSIONAL STUDIES, SCHOOL OF BUSINESS, AND OTHER EDUCATIONAL OPPORTUNITIES. THE MEDICAL SCHOOLS' SECOND CAMPUS EXPECTS TO SEAT ITS FIRST CHARLOTTE CLASS IN 2024 AND OPEN IN 2025. THE WAKE FOREST UNIVERSITY SCHOOL OF MEDICINE AND ATRIUM HEALTH WAKE FOREST BAPTIST LAUNCHED THE LARGEST FUNDRAISING CAMPAIGN FOR RESEARCH IN THEIR HISTORY IN NOVEMBER 2023. THE ENVISION CAMPAIGN WILL TAKE PLACE OVER TWO YEARS WITH THE GOAL OF RAISING AT LEAST $100 MILLION TO SUPPORT RESEARCH AND ACCELERATE DISCOVERIES THAT PROVIDE HOPE AND IMPROVE CARE. FUNDS RAISED WILL SUPPORT KEY FOCUS AREAS IN HEALTH EQUITY, ALZHEIMER'S DISEASE, CANCER, CARDIOVASCULAR DISEASE, DIABETES, OBESITY AND METABOLISM, HEALTHY AGING AND MOBILITY, NEUROSCIENCES, AND REGENERATIVE MEDICINE.
FORM 990, PART III, LINE 4A RESEARCH AWARDS RECEIVED BY WFUHS (PRINCIPALLY AS WAKE FOREST UNIVERSITY SCHOOL OF MEDICINE) DURING 2024 TOTALED JUST OVER $422.9 MILLION, INCLUDING $262 MILLION FROM FEDERAL SOURCES (INCLUDING THE NATIONAL INSTITUTES OF HEALTH (NIH)AND THE U.S. DEPARTMENT OF DEFENSE), $114.9 FROM NONPROFIT AND STATE SOURCES, AND $45.9 MILLION FROM INDUSTRY SOURCES. SIGNIFICANT RESEARCH GRANTS ANNOUNCED DURING THE PERIOD INCLUDED: - A $28.2 MILLION GRANT FROM THE NATIONAL INSTITUTES OF HEALTH TO ACCELERATE TRANSLATION OF SCIENTIFIC DISCOVERIES. THE SEVEN-YEAR AWARD IS THE WAKE FOREST UNIVERSITY SCHOOL OF MEDICINE'S CLINICAL AND TRANSLATIONAL SCIENCES INSTITUTE'S (CTSI) THIRD CLINICAL AND TRANSLATIONAL SCIENCE AWARD (CTSA), WHICH IS DESIGNED TO ACCELERATE THE TRANSLATION OF RESEARCH DISCOVERIES TO IMPROVE PATIENT CARE. - A $27 MILLION GRANT FROM THE NATIONAL INSTITUTE ON AGING (NIA), PART OF THE NATIONAL INSTITUTES OF HEALTH (NIH), TO RENEW FUNDING FOR MESA-MIND, AN ANCILLARY STUDY TO THE MULTI-ETHNIC STUDY OF ATHEROSCLEROSIS (MESA). - A $4.5 MILLION GRANT FROM THE DEPARTMENT OF DEFENSE TO STUDY CERVICAL SPINE INJURIES IN MILITARY PERSONNEL. - A $3.4 MILLION AWARDED TO THE WAKE FOREST UNIVERSITY SCHOOL OF MEDICINE, ADVOCATE HEALTH, AND VYSNOVA PARTNERS THE U.S. CENTERS FOR DISEASE CONTROL AND PREVENTION (CDC). THE PURPOSE OF THE FOUR-YEAR CONTRACT IS TO STUDY HIV, MPOX, AND OTHER SEXUALLY TRANSMITTED INFECTIONS (STIS). THIS PROJECT IS PART OF THE CDC'S SEXUALLY TRANSMITTED INFECTIONS IMPACT RESEARCH CONSORTIUM. - A $3.4 MILLION, FIVE-YEAR GRANT FROM THE NATIONAL INSTITUTE ON AGING, PART OF THE NATIONAL INSTITUTES OF HEALTH, TO STUDY MEDICAL MISINFORMATION. - A $3.3 MILLION GRANT FROM THE NATIONAL INSTITUTE OF DIABETES AND DIGESTIVE AND KIDNEY DISEASES, PART OF THE NATIONAL INSTITUTES OF HEALTH, TO STUDY AND DEVELOP A TREATMENT FOR PRIMARY HYPEROXALURIA (PH). THIS RARE GENETIC DISORDER CAUSES KIDNEY STONES AND OTHER SERIOUS HEALTH PROBLEMS. - A $3.2 MILLION GRANT TO STUDY FINANCIAL HARDSHIP INTERVENTION IN ADOLESCENT AND YOUNG ADULT CANCER SURVIVORS. THE FIVE-YEAR GRANT WAS AWARDED BY THE NATIONAL CANCER INSTITUTE (NCI), PART OF THE NATIONAL INSTITUTES OF HEALTH, TO TEST A MULTILEVEL INTERVENTION IN COMMUNITY-BASED ONCOLOGY PRACTICES IN THE NCI'S COMMUNITY ONCOLOGY RESEARCH PROGRAM (NCORP), A NATIONAL NETWORK THAT BRINGS CANCER CLINICAL TRIALS AND CANCER DELIVERY STUDIES TO COMMUNITIES. - A $3.2 MILLION GRANT FROM THE NATIONAL CENTER OF COMPLEMENTARY AND INTEGRATIVE HEALTH, PART OF THE NATIONAL INSTITUTES OF HEALTH (NIH), TO STUDY THE EFFECTIVENESS OF NON-PHARMACOLOGICAL TREATMENTS FOR MIGRAINE. - A $1.5 MILLION GRANT FROM THE KATE B. REYNOLDS CHARITABLE TRUST FOR THE "REIMAGINING HEALTH AND WELLBEING BY MOTHERS FOR OUR BABIES, FAMILIES AND COMMUNITIES" PROJECT TO REDUCE DISPARITIES IN BIRTH AND POSTPARTUM OUTCOMES FOR BLACK AND LATINX COMMUNITIES IN FORSYTH COUNTY. THE WAKE FOREST UNIVERSITY SCHOOL OF MEDICINE WILL PARTNER WITH LOCAL NON-PROFIT ACTION$EQUITY TO SUPPORT COMMUNITY-LED EFFORTS TO ELIMINATE DISPARITIES IN OUTCOMES FOR MOMS AND BABIES. - A $1.5 MILLION GRANT FROM THE NATIONAL INSTITUTE OF ARTHRITIS AND MUSCULOSKELETAL AND SKIN DISEASES, PART OF THE NATIONAL INSTITUTES OF HEALTH (NIH), TO STUDY BONE MICROARCHITECTURE IN PATIENTS FOLLOWING BARIATRIC SURGERY. THE WAKE FOREST UNIVERSITY SCHOOL OF MEDICINE WILL PARTNER WITH VIRGINIA TECH TO ADD A VIRTUAL BIOPSY THAT USES AN INNOVATIVE TECHNIQUE CALLED HIGH-RESOLUTION PERIPHERAL QUANTITATIVE COMPUTED TOMOGRAPHY (HR-PQCT) TO AN ONGOING RANDOMIZED CONTROLLED TRIAL. - THREE GRANTS TOTALING $1.3 MILLION FROM THE DUKE ENDOWMENT TO SUPPORT PROGRAMS PROMOTING THE HEALTH AND ACTIVITY OF OLDER ADULTS AT HOME, ADDRESSING FOOD INSECURITY, AND ENGAGING STUDENTS IN HEALTH CARE CAREERS. ---PATIENT INTEGRATED ASSESSMENT (PATINA), A PATIENT-CENTERED PLATFORM TO SUPPORT OLDER ADULTS' HEALTH AND ACTIVITY AT HOME, RECEIVED $555,000 TO SUPPORT THIS PROJECT'S EFFORTS TO PROMOTE COORDINATED CARE FOR AT-RISK OLDER ADULTS. PATINA IS A PERSON-CENTERED TOOL THAT COMBINES PATIENT PREFERENCES AND CONTEXTUAL INFORMATION COLLECTED VIA SMARTPHONE-DELIVERED DAILY DIARIES WITH PASSIVE ACTIVITY MONITORING CAPTURED VIA WEARABLES (FITBITS). ---FOOD IS HEALTH: SNAP-CLINICAL COLLABORATIONS TO ADDRESS THE NEEDS OF FAMILIES IN FOOD INSECURE HOUSEHOLDS, RECEIVED $541,670 TO HELP CONNECT FOOD-INSECURE PATIENTS AND FAMILIES DIRECTLY WITH SNAP EVALUATION AND ENROLLMENT IN THE CLINICAL SETTING. ---EMPLOYING NOVEL VIRTUAL AND IN-PERSON STRATEGIES TO INCREASE NUMBER AND DIVERSITY OF STUDENTS PURSUING HEALTH CARE AND BIOMEDICAL RESEARCH CAREERS WAS AWARDED $240,000 TO PROVIDE NORTH AND SOUTH CAROLINA HIGH SCHOOL AND EARLY COLLEGE STUDENTS WITH CULTURALLY AND AGE-APPROPRIATE CONTENT FROM ROLE MODELS IN CLINICAL AND BIOMEDICAL SCIENCES. OTHER NOTABLE AWARDS DURING THE PERIOD INCLUDED: - A $340,000 GRANT FROM THE DUKE ENDOWMENT TO HELP PATIENTS IN HISTORICALLY BLACK COMMUNITIES ACCESS AND NAVIGATE THE HEALTH SYSTEMS AND SOCIAL SERVICE RESOURCES IN FORSYTH COUNTY, NORTH CAROLINA. - TWO GRANTS TOTALING $300,000 FROM THE LEON LEVINE FOUNDATION THAT AIM TO STRENGTHEN THE CAREPLUS MODEL PROGRAM, WHICH PROVIDES PRIMARY CARE AND CARE COORDINATION FOR APPROXIMATELY 500 FREQUENTLY ADMITTED PATIENTS FROM SAFETY NET PRACTICES, MANY OF WHOM ARE COVERED BY MEDICAID OR ARE UNINSURED. - A $300,000 GRANT FROM THE WHITEHALL FOUNDATION TO SUPPORT RESEARCH FOR PREDICTING STRESS-RELATED DISORDERS. THIS THREE-YEAR GRANT WILL BUILD ON EXISTING RESEARCH TO HELP IMPROVE DIAGNOSIS, PREVENTION, AND TREATMENT.
FORM 990, PART III, LINE 4A 1. CLINICAL SERVICES ATRIUM HEALTH WAKE FOREST BAPTIST IS NATIONALLY RECOGNIZED FOR CLINICAL EXCELLENCE AND INTERNATIONALLY KNOWN FOR PIONEERING RESEARCH AND CLINICAL INNOVATION. IT OFFERS EXPERTISE IN MORE THAN 100 AREAS OF MEDICINE, ENCOMPASSING COMPREHENSIVE PREVENTIVE AND HIGHLY SPECIALIZED CARE FOR ALL AGES. ATRIUM HEALTH WAKE FOREST BAPTIST'S NETWORK INCLUDES THE 167-BED COMPREHENSIVE CANCER CENTER AND THE 144-BED BRENNER CHILDREN'S HOSPITAL, BOTH OF WHICH ARE ON THE ATRIUM HEALTH WAKE FOREST BAPTIST MEDICAL CENTER CAMPUS IN WINSTON-SALEM, AS WELL AS COMMUNITY HOSPITALS IN DAVIDSON, DAVIE, GUILFORD, AND WILKES COUNTIES. BRENNER CHILDREN'S HOSPITAL ALSO INCLUDES THE DALE AND KAREN SISEL NEONATAL INTENSIVE CARE UNIT, WITH 51 ALL-PRIVATE ROOMS. ACROSS ITS SERVICE AREA OF NORTHWEST NORTH CAROLINA AND SOUTHWEST VIRGINIA, ATRIUM HEALTH WAKE FOREST BAPTIST HAS SEVEN EMERGENCY DEPARTMENTS; 11 URGENT CARE LOCATIONS; 458 PHYSICIAN PRACTICES, INCLUDING PRIMARY CARE AND SPECIALTY CLINICS; 28 CANCER CARE LOCATIONS; AND THREE AMBULATORY SURGERY CENTERS. AS OF DECEMBER 31, 2024, ATRIUM HEALTH WAKE FOREST BAPTIST EMPLOYED 22,478 PEOPLE, INCLUDING OVER 2,000 PHYSICIANS, 2,700 ACTIVE MEDICAL STAFF; 3,200 PROVIDERS ALIGNED THROUGH ITS ACCOUNTABLE CARE ORGANIZATION AND CLINICALLY INTEGRATED NETWORK; 1,200 ADVANCED PRACTICE PROVIDERS; AND 4,500 NURSES. ATRIUM HEALTH WAKE FOREST BAPTIST CONTINUES TO INVEST IN THE COMMUNITIES IT SERVES THROUGH NEW AND EXPANDED FACILITIES AND SERVICES. IN 2024, THE HEALTH SYSTEM OPENED FOUR NEW LOCATIONS IN GREENSBORO, NORTH CAROLINA, INCLUDING A MEDICAL OFFICE BUILDING, AN URGENT CARE AND FAMILY MEDICINE CLINIC AND PEDIATRIC CLINICS. IT EXPANDED SERVICES IN EAST WINSTON-SALEM INTO A HISTORICALLY UNDERSERVED AREA AND RENAMED THE BUILDING THE KENNEDY-HOPKINS MEDICAL BUILDING, IN MEMORY OF TWO BLACK MEDICAL PIONEERS. AHWFB BROKE GROUND ON AN OUTPATIENT SURGERY CENTER IN WINSTON-SALEM, NORTH CAROLINA AND A MULTISPECIALTY MEDICAL OFFICE BUILDING AND OUTPATIENT SURGERY CENTER IN GREENSBORO, NORTH CAROLINA, TOTALING MORE THAN 164,000 SQUARE FEET OF SPACE. FOR THE 2024 CALENDAR YEAR, THE ATRIUM HEALTH WAKE FOREST BAPTIST SYSTEM HAD 90,522 ACUTE CARE BEDDED DISCHARGES; 247,093 EMERGENCY DEPARTMENT VISITS; 2,657,461 PHYSICIAN OFFICE VISITS; AND 150,789 URGENT CARE VISITS IN 2024, ATRIUM HEALTH WAKE FOREST BAPTIST BECAME THE FIRST IN ADVOCATE HEALTH TO GIVE LECANEMAB THE FIRST FDA-APPROVED DRUG FOR ALZHEIMER'S DISEASE IN MORE THAN 20 YEARS TO A PATIENT. THIS MILESTONE POSITIONS AHWFB AS A LEADER IN INNOVATIVE CARE AND BUILDS ON ITS REPUTATION FOR BRIDGING ACADEMIC RESEARCH WITH CARE. ATRIUM HEALTH WAKE FOREST BAPTIST BECAME THE FIRST AND ONLY HEALTH SYSTEM IN THE CAROLINAS TO BEGIN USING THE ONLY FDA-CLEARED ROBOTIC-ASSISTED COCHLEAR IMPLANT TECHNOLOGY. COCHLEAR IMPLANTS CAN BE DESCRIBED AS "BIONIC EARS" THAT ARE IMPLANTED INTO THE INNER EAR OF PATIENTS 9 MONTHS AND OLDER WHO NEED ADVANCED HELP BEYOND HEARING AIDS TO RESTORE HEARING. COCHLEAR IMPLANTS PROVIDE DIRECT ELECTRICAL STIMULATION, THROUGH THE EAR, TO THE HEARING CENTERS OF THE BRAIN. THE ROBOTIC-ASSISTED INSERTION SYSTEM IS CURRENTLY INDICATED FOR PATIENTS 12 YEARS OF AGE AND OLDER WHO QUALIFY FOR A COCHLEAR IMPLANT. BEING AT THE FOREFRONT OF TECHNOLOGY, ATRIUM HEALTH WAKE FOREST BAPTIST IS ONE OF THE SELECT CENTERS TO OFFER THE TECHNOLOGY WITH THE CLOSEST OTHER CENTERS IN NEW JERSEY, PHILADELPHIA AND FLORIDA. HIGHLIGHTING ITS NATIONALLY RECOGNIZED ACHIEVEMENTS IN PATIENT SAFETY AND QUALITY, ATRIUM HEALTH WAKE FOREST BAPTIST DAVIE MEDICAL CENTER RECEIVED ITS SIXTH CONSECUTIVE A GRADE FROM THE LEAPFROG GROUP. 2. OUTREACH ATRIUM HEALTH WAKE FOREST BAPTIST CONTINUES A BROAD-BASED EFFORT TO REACH UNDERSERVED POPULATIONS ACROSS ITS SERVICE AREA, WHICH IS REFLECTED IN ITS ANNUAL COMMUNITY BENEFITS REPORT. FOR TAX YEAR ENDED DECEMBER 31, 2024, ATRIUM HEALTH WAKE FOREST BAPTIST REPORTED IT PROVIDED COMMUNITY BENEFITS VALUED AT $945 MILLION, INCLUDING $105 MILLION IN BAD DEBT, AS REPORTED TO THE STATE OF NORTH CAROLINA AND THE FEDERAL GOVERNMENT. THOSE BENEFITS SUPPORTED THESE AREAS: - FINANCIAL ASSISTANCE (FKA CHARITY CARE) - COMMUNITY HEALTH IMPROVEMENT AND OUTREACH PROGRAMS - EDUCATION AND TRAINING OF MEDICAL AND HEALTH PROFESSIONS AND CLINICAL RESEARCH - SUBSIDIZED HEALTH SERVICES AT THE DOWNTOWN HEALTH PLAZA, BETHESDA, AND SOUTHSIDE HEALTH CLINICS IN WINSTON SALEM, NC - UNREIMBURSED COSTS OF GOVERNMENT-FUNDED PROGRAMS, PRIMARILY MEDICARE AND MEDICAID ONE ANCHOR OF OUTREACH FOR THE ATRIUM HEALTH WAKE FOREST BAPTIST MEDICAL CENTER IS ITS DOWNTOWN HEALTH PLAZA, A FULL-SERVICE, OUTPATIENT MEDICAL CLINIC THAT SERVES MANY OF FORSYTH COUNTY'S UNINSURED AND UNDERINSURED RESIDENTS WITH A STATE-OF-THE-ART MEDICAL HOME. IN ADDITION TO CLINICAL CARE, THE DOWNTOWN HEALTH PLAZA OFFERS COMMUNITY HEALTH FAIRS, DIABETES EDUCATION, AND A CENTERING PREGNANCY PROGRAM THAT IS REDUCING THE INCIDENCE OF LOW BIRTH-WEIGHT BABIES. DURING THE 2024 CALENDAR YEAR, 54,739 PATIENT VISITS (18,512 WITH DISTINCT MEDICAL RECORD NUMBERS) WERE RECORDED AT THE DOWNTOWN HEALTH PLAZA, AND ANOTHER 9,899 VISITS (3,805 WITH DISTINCT MEDICAL RECORD NUMBERS) WERE RECORDED AT WINSTON EAST PEDIATRICS, A NEARBY ATRIUM HEALTH WAKE FOREST BAPTIST CARE FACILITY SERVING THE UNINSURED AND UNDERINSURED. ON-GOING WORK OF ATRIUM HEALTH WAKE FOREST BAPTIST INCLUDES: - REGULAR COMMUNITY-BASED HEALTH CLINICS, INCLUDING THE WEEKLY DELIVERING EQUAL ACCESS TO CARE (DEAC) CLINIC FOR UNINSURED RESIDENTS OF FORSYTH, DAVIDSON, DAVIE, STOKES, AND YADKIN COUNTIES; THE MONTHLY TRIAD FREE HEALTH CLINIC AT COMMUNITY MOSQUE IN WINSTON-SALEM; THE MONTHLY GRACE CLINIC AT NEW LIGHT MISSIONARY BAPTIST CHURCH IN WINSTON SALEM; AND THE ANNUAL SHARE THE HEALTH FAIR AT THE DOWNTOWN HEALTH PLAZA IN WINSTON SALEM. THESE CLINICS, SPONSORED BY PRIVATE ORGANIZATIONS AND CHURCHES WITH VOLUNTEER ASSISTANCE FROM ATRIUM HEALTH WAKE FOREST BAPTIST PHYSICIANS, NURSES, MEDICAL STUDENTS, AND OTHERS, ATTRACT THOUSANDS OF PEOPLE TO SCREENINGS FOR ACUTE AND CHRONIC CONDITIONS. - FAITHHEALTHNC, AN INITIATIVE THAT CONNECTS THE CARING STRENGTHS OF CONGREGATIONS, THE CLINICAL EXPERTISE OF PROVIDERS, AND A NETWORK OF COMMUNITY RESOURCES TO EASE THOSE ON THE JOURNEY TO HEALTH AND HEALING, STRENGTHENING COMMUNITIES IN THE PROCESS. 3. EDUCATIONAL MISSION AND ACCOMPLISHMENTS THE CONSTITUENT ORGANIZATIONS OF ATRIUM HEALTH WAKE FOREST BAPTIST OPERATE A BROAD RANGE OF EDUCATIONAL PROGRAMS, GRADUATING SKILLED PRACTITIONERS. ATRIUM HEALTH WAKE FOREST BAPTIST AND THE WAKE FOREST UNIVERSITY SCHOOL OF MEDICINE ATTRACT SOME OF THE WORLD'S MOST COMPETITIVE MEDICAL STUDENTS, RESIDENTS, AND FELLOWS, AS WELL AS STUDENTS IN CLINICAL PASTORAL CARE, NURSE ANESTHESIA, AND OTHER AREAS. IN AUGUST 2023, THE WAKE FOREST UNIVERSITY SCHOOL OF MEDICINE WELCOMED 145 MD STUDENTS CHOSEN FROM AMONG 12,066 APPLICANTS FOR THE CLASS OF 2027. THE WAKE FOREST UNIVERSITY SCHOOL OF MEDICINE WAS RECOGNIZED AGAIN BY U.S. NEWS & WORLD REPORT FOR ITS MEDICAL RESEARCH, AGAIN RANKING 47TH NATIONALLY, IN THE 2024 EDITION OF BEST GRADUATE SCHOOLS. THE SCHOOL'S NURSE ANESTHESIA PROGRAM MOVED UP TO NO. 7 AND THE PA PROGRAM RANKED NO. 16 IN NATIONAL RANKINGS ISSUED BY U.S. NEWS & WORLD REPORT. FOR CALENDAR YEAR 2024, ATRIUM HEALTH WAKE FOREST BAPTIST PROVIDED $148.9 MILLION IN EDUCATION FUNDING FOR MEDICAL STUDENTS AND OTHER HEALTH CARE PROFESSIONALS AND IN RESEARCH FUNDING NOT COVERED BY OUTSIDE SOURCES. SUCH INVESTMENTS SUPPORT THE TRAINING OF HUNDREDS OF STUDENTS. AS OF DECEMBER 31, 2024, THOSE INCLUDED 579 MD STUDENTS, 754 PHYSICIAN RESIDENTS AND FELLOWS, 412 GRADUATE STUDENTS, 254 PHYSICIAN ASSISTANT STUDENTS, AND 99 STUDENTS PURSUING THE DOCTOR OF NURSING PRACTICE DEGREE. DURING THE 2023-24 ACADEMIC YEAR, THE NORTHWEST AREA HEALTH EDUCATION CENTER, PART OF THE WAKE FOREST UNIVERSITY SCHOOL OF MEDICINE, OFFERED 2,153 CONTINUING PROFESSIONAL DEVELOPMENT ACTIVITIES FOR PRACTICING HEALTH CARE PROFESSIONALS THAT DREW 50,255 TOTAL PARTICIPANTS FROM THROUGHOUT THE REGION.
FORM 990, PART III, LINE 4A FOR CALENDAR YEAR 2023, ATRIUM HEALTH WAKE FOREST BAPTIST PROVIDED $148.9 MILLION IN EDUCATION FUNDING FOR MEDICAL STUDENTS AND OTHER HEALTH CARE PROFESSIONALS AND IN RESEARCH FUNDING NOT COVERED BY OUTSIDE SOURCES. SUCH INVESTMENTS SUPPORT THE TRAINING OF HUNDREDS OF STUDENTS. AS OF DECEMBER 31, 2023, THOSE INCLUDED 576 MD STUDENTS, 780 PHYSICIAN RESIDENTS AND FELLOWS, 397 GRADUATE STUDENTS, 167 PHYSICIAN ASSISTANT STUDENTS, 93 STUDENTS PURSUING THE DOCTOR OF NURSING PRACTICE DEGREE (28 IN THE ONLINE PROGRAM AND 65 PURSUING THE DUAL DNP AND NURSE ANESTHESIA DEGREE), AND 19 PASTORAL CARE CHAPLAIN RESIDENTS (6), FELLOWS (2), AND INTERNS (11). THE TRADITIONAL NURSE ANESTHESIA MASTER'S DEGREE PROGRAM GRADUATED ITS FINAL CLASS OF STUDENTS IN AUGUST 2023, AND ALL COHORTS MOVING FORWARD ARE PURSUING THE DUAL DNP-NURSE ANESTHESIA DEGREE. IN ADDITION, 142 STUDENTS WERE ENROLLED IN THE VIRGINIA TECH-WAKE FOREST UNIVERSITY SCHOOL OF BIOMEDICAL ENGINEERING AND SCIENCES, WITH 70 OF THOSE ON THE WAKE FOREST UNIVERSITY CAMPUS. DURING THE 2022-23 ACADEMIC YEAR, THE NORTHWEST AREA HEALTH EDUCATION CENTER, PART OF THE WAKE FOREST UNIVERSITY SCHOOL OF MEDICINE, OFFERED 2,415 CONTINUING PROFESSIONAL DEVELOPMENT ACTIVITIES FOR PRACTICING HEALTH CARE PROFESSIONALS THAT DREW 50,781 TOTAL PARTICIPANTS FROM THROUGHOUT THE REGION.
FORM 990, PART VI, SECTION A, LINE 2 BRADLEY CLARK AND TERRY WILLIAMS, OFFICERS OF THE FILING ORGANIZATION, HAD A BUSINESS RELATIONSHIP DURING THE FILING YEAR. GERALD F. ROACH AND JOHN M. VANN, DIRECTORS OF THE FILING ORGANIZATION, HAD A BUSINESS RELATIONSHIP FOR PART OF THE FILING YEAR.
FORM 990, PART VI, SECTION A, LINE 3 EFFECTIVE JULY 1, 2010, THE GOVERNING BOARDS OF THE FILING ORGANIZATION (WFUHS), WAKE FOREST UNIVERSITY (WFU), NORTH CAROLINA BAPTIST HOSPITAL (NCBH, AN ENTITY UNRELATED TO THE WFU AND WFUHS), AND WAKE FOREST UNIVERSITY BAPTIST MEDICAL CENTER (WFUBMC) APPROVED A MEDICAL CENTER INTEGRATION AGREEMENT (MCIA) WHEREBY AN INTEGRATED ACADEMIC MEDICAL CENTER (COLLECTIVELY, "THE MEDICAL CENTER") WAS CREATED THAT COMBINED CLINICAL CARE, MEDICAL EDUCATION, AND RESEARCH ACTIVITIES CONDUCTED BY THOSE PARTIES AND THEIR RESPECTIVE SUBSIDIARY ENTITIES, UNDER THE DELEGATED OPERATIONAL MANAGEMENT AND OVERSIGHT OF THE FILING ORGANIZATION, ITSELF A NORTH CAROLINA NONPROFIT CORPORATION WHOSE TWO EQUAL MEMBERS WERE WFU AND NCBH. EFFECTIVE OCTOBER 9, 2020, AND PURSUANT TO A HEALTH SYSTEM INTEGRATION AGREEMENT AMONG WFUBMC, WFU, WFUHS, NCBH, AND THE CHARLOTTE-MECKLENBURG HOSPITAL AUTHORITY (CMHA, A NORTH CAROLINA HOSPITAL AUTHORITY THAT OPERATES A MULTI-STATE INTEGRATED HEALTHCARE SYSTEM IN THE SOUTHEASTERN UNITED STATES), THE MEDICAL CENTER AND CMHA BECAME PARTICIPANTS IN A SINGLE, INTEGRATED HEALTHCARE DELIVERY AND ACADEMIC SYSTEM (THE "ATRIUM ENTERPRISE") MANAGED AND OVERSEEN BY ATRIUM HEALTH, INC. (ATRIUM), A NEW JOINT OPERATING COMPANY WITHOUT MEMBERS WHOSE 16-PERSON BOARD OF DIRECTORS (THE "ATRIUM BOARD") IS COMPRISED INITIALLY OF 13 CMHA DESIGNEES AND THREE MEDICAL CENTER DESIGNEES; THE MCIA WAS AMENDED TO INCLUDE ATRIUM AS A THIRD MEMBER OF WFUBMC AND TO RECONSTITUTE THE WFUBMC BOARD TO INCLUDE 17 VOTING DIRECTORS OF WHOM WFU DESIGNATES SIX, NCBH DESIGNATES SIXED, ATRIUM DESIGNATES THREE, AND THE WFUBMC BOARD ELECTS TWO; AND THE MEDICAL CENTER (INCLUDING WFUHS AND THE WAKE FOREST UNIVERSITY SCHOOL OF MEDICINE) WAS ESTABLISHED AS THE ACADEMIC CORE OF THE ENTERPRISE RESPONSIBLE FOR ITS ACADEMIC AND RESEARCH ACTIVITIES. UNDER THIS ARRANGEMENT, EACH ATRIUM ENTERPRISE PARTICIPANT (AND ITS AFFILIATES) MAINTAINS ITS SEPARATE LEGAL EXISTENCE AND CONTINUES TO OWN ITS ASSETS AND RETAIN ALL POWER, AUTHORITIES, RIGHTS AND REMEDIES NECESSARY OR APPROPRIATE TO ALLOW IT TO COMPLY WITH ITS PRE-EXISTING DEBT INSTRUMENTS. WFUBMC AND CMHA DELEGATED AUTHORITY TO ATRIUM TO MANAGE AND OVERSEE THEIR ACTIVITIES AND OPERATIONS, SUBJECT TO THE AUTHORITY OF THE UNIVERSITY, WFUHS, AND WFUBMC OVER ACADEMIC AND RESEARCH MATTERS, THE EXERCISE OF CERTAIN RESERVED POWERS, AND THE CARRYING OUT OF CERTAIN RESPONSIBILITIES BY THE WFUBMC BOARD AND THE CMHA BOARD OF COMMISSIONERS. THE RESERVED POWERS OF EACH ATRIUM ENTERPRISE PARTICIPANT INCLUDE THE POWER TO APPROVE A CHANGE IN ITS FUNDAMENTAL BUSINESS OR MISSION AND, SUBJECT TO THE ATRIUM BOARD'S APPROVAL, TO DEVELOP ITS STRATEGIC PLANS (WHICH WILL BE GENERALLY CONSISTENT WITH THOSE OF THE ENTIRE ENTERPRISE) AND ITS CAPITAL AND OPERATING BUDGETS. THE WAKE FOREST SCHOOL OF MEDICINE CONTINUES AS AN ACADEMIC UNIT OWNED AND OPERATED BY THE UNIVERSITY THROUGH WFUHS. THE EXECUTIVE VICE PRESIDENT FOR HEALTH AFFAIRS IS AN OFFICER OF THE UNIVERSITY, AND CONCURRENTLY HOLDS APPOINTMENTS AS THE CHIEF EXECUTIVE OFFICER AND THE CHIEF ACADEMIC OFFICER (CAO) OF WFUBMC AND THE ENTERPRISE. THE CAO REPORTS EXCLUSIVELY TO THE UNIVERSITY PRESIDENT ON SCHOOL OF MEDICINE-RELATED ACADEMIC MATTERS AND THE PRESIDENT MUST CONSENT TO THE APPOINTMENT OF THE DEAN OF THE SCHOOL OF MEDICINE BY THE CAO. THE UNIVERSITY, GENERALLY THROUGH THE SCHOOL OF MEDICINE, CONTINUES TO BE RESPONSIBLE FOR, AND HAVE THE AUTHORITY REGARDING, ALL ACADEMIC FUNCTIONS OF THE SCHOOL OF MEDICINE. AS SUCH, THE UNIVERSITY CONTINUES TO HOLD AND EXERCISE, AT MINIMUM, THE DEGREE OF ACADEMIC AND ACADEMICALLY-RELATED ADMINISTRATIVE AUTHORITY OVER WFUBMC, THE SCHOOL OF MEDICINE, AND WFUHS THAT THE UNIVERSITY EXERCISED PRIOR TO THE CREATION OF THE ENTERPRISE. IN ADDITION TO FORMING A UNIFIED HEALTH SYSTEM, A SECOND CAMPUS OF THE SCHOOL OF MEDICINE WILL BE ESTABLISHED IN CHARLOTTE, NORTH CAROLINA, WHICH WILL BE AFFILIATED WITH ATRIUM AND IS SCHEDULED TO OPEN TO FIRST-YEAR M.D. STUDENTS IN COMING YEARS. THE ADDITION OF THE SECOND CAMPUS IS EXPECTED TO APPROXIMATELY DOUBLE THE ENROLLMENT OF THE SCHOOL OF MEDICINE. EFFECTIVE MAY 9, 2022, ATRIUM HEALTH, INC. (ATRIUM), ADVOCATE AURORA HEALTH, INC. (AAH), AND ADVOCATE HEALTH, INC. (ADVOCATE HEALTH) ENTERED INTO A MASTER AGREEMENT PURSUANT TO WHICH THOSE PARTIES AGREED THAT ATRIUM AND ITS AFFILIATES, INCLUDING WFUBMC AND THE WAKE FOREST BAPTIST ENTITIES, AND AAH AND ITS AFFILIATES WOULD BECOME FULLY FUNCTIONING PARTS OF A NEW INTEGRATED HEALTHCARE DELIVERY AND ACADEMIC SYSTEM (THE "SYSTEM") TO BE MANAGED AND OVERSEEN BY ADVOCATE HEALTH THROUGH A JOINT OPERATING AGREEMENT AMONG ATRIUM, AAH, AND ADVOCATE HEALTH DATED AND EFFECTIVE DECEMBER 2, 2022. IN ADDITION, ON MAY 9, 2022, WFUBMC, ATRIUM, ADVOCATE HEALTH, AND CMHA ENTERED INTO THE WAKE FOREST UNIVERSITY BAPTIST MEDICAL CENTER COMMITMENT AGREEMENT (THE "COMMITMENT AGREEMENT"), UNDER WHICH THE PARTIES ENSURED ALL RIGHTS AND BENEFITS TO THE WAKE FOREST BAPTIST ENTITIES AND, AS APPLICABLE, WFU UNDER THE RELATED AGREEMENTS (BUT NOT INCLUDING THE GOVERNING DOCUMENTS OF ATRIUM, CMHA, AND WFBMC) RELATED TO THE ENTERPRISE WERE PRESERVED IN THE SYSTEM, EXCEPT THOSE RIGHTS AND BENEFITS THAT WERE ELEVATED TO ADVOCATE HEALTH AND WERE MODIFIED IN THE SYSTEM AS SPECIFICALLY SET OUT IN THE COMMITMENT AGREEMENT. THE COMMITMENT AGREEMENT FURTHER CONFIRMED THE COMMITMENT OF (I) ADVOCATE HEALTH TO SUPPORT AND ENHANCE THE EDUCATIONAL AND RESEARCH MISSIONS OF WFBMC AND WFUHS; (II) WFBMC, WFU, AND WFUHS TO SUPPORT AND ENHANCE THE EDUCATIONAL AND RESEARCH ACTIVITIES OF ADVOCATE HEALTH, THE AAH ENTITIES AND THEIR AFFILIATES; AND (III) ADVOCATE HEALTH TO SUPPORT AND ENHANCE THE EDUCATIONAL AND RESEARCH MISSIONS OF THE SYSTEM AS A WHOLE.
FORM 990, PART VI, SECTION A, LINE 6 WAKE FOREST UNIVERSITY IS THE SOLE MEMBER OF THE FILING ORGANIZATION.
FORM 990, PART VI, SECTION A, LINE 7A THE DIRECTORS OF THE FILING ORGANIZATION ARE ELECTED BY THE BOARD OF TRUSTEES OF ITS SOLE MEMBER, WAKE FOREST UNIVERSITY.
FORM 990, PART VI, SECTION A, LINE 7B DECISIONS OF THE FILING ORGANIZATION'S GOVERNING BODY WHICH REQUIRE APPROVAL BY THE ORGANIZATION'S SOLE MEMBER, WAKE FOREST UNIVERSITY, INCLUDE AMENDMENTS TO CERTAIN FUNDAMENTAL DOCUMENTS (ARTICLES OF INCORPORATION AND BYLAWS); ACADEMIC APPOINTMENT OF FACULTY, GRANT OF TENURE AND DISMISSAL; AND DISSOLUTION. THE DISPOSITION OF CERTAIN REAL PROPERTY OF THE FILING ORGANIZATION IS SUBJECT TO THE APPROVAL OF THE CHAIR AND VICE CHAIR OF THE BOARD OF WFUBMC. NOTWITHSTANDING THE FILING ORGANIZATION'S PARTICIPATION IN THE HEALTH SYSTEM INTEGRATION AMONG ITS PARENT ENTITY (WAKE FOREST UNIVERSITY), WFUBMC, NCBH, AND CMHA DESCRIBED IN THE NARRATIVE RESPONSE ON SCHEDULE O TO THE EXPLANATION REGARDING PART VI, SECTION A, LINE 3, WHEREBY THE FILING ORGANIZATION BECAME A PART OF A SINGLE, INTEGRATED HEALTHCARE DELIVERY AND ACADEMIC SYSTEM (THE "ATRIUM ENTERPRISE") MANAGED AND OVERSEEN BY ATRIUM HEALTH, INC., SIGNIFICANT AUTHORITY OVER GOVERNANCE DECISIONS REGARDING THE ACADEMIC OPERATIONS OF THE WAKE FOREST UNIVERSITY SCHOOL OF MEDICINE AND ITS PROGRAMS AND FACULTY WAS RETAINED IN THE FILING ORGANIZATION AND ITS PARENT AS SUMMARIZED IN THAT NARRATIVE RESPONSE.
FORM 990, PART VI, SECTION B, LINE 11B THE FILING ORGANIZATION'S BOARD OF DIRECTORS RECEIVES A COPY OF THE FORM 990 WITH SUFFICIENT TIME TO PERMIT REVIEW AND COMMENT PRIOR TO ITS FILING. IF MODIFICATIONS ARE REQUIRED FOLLOWING SUCH REVIEW AND COMMENT, THE REVISED FORM 990 IS REDISTRIBUTED TO ALL BOARD MEMBERS PRIOR TO ITS FILING WITH THE IRS, ALONG WITH A REPORT NOTING THE MODIFICATIONS.
FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION REQUIRES OFFICERS AND KEY EMPLOYEES TO ANNUALLY REVIEW THE CONFLICT OF INTEREST POLICY AND DETERMINE ANY POTENTIAL CONFLICTS OF INTEREST. ANY POTENTIAL CONFLICTS NOTED IN THE QUESTIONNAIRE ARE REVIEWED BY A STANDING COMMITTEE FOR APPROPRIATE RESOLUTION. ALL MEMBERS OF THE BOARD OF DIRECTORS ARE REQUIRED TO DETERMINE AND REPORT ANNUALLY, AND AS THEY ARISE, ANY POTENTIAL CONFLICTS OF INTEREST TO THE SECRETARY OF THE BOARD OF DIRECTORS. THE RESOLUTION OF POTENTIAL AND ACTUAL CONFLICTS IS SUBJECT TO THE APPROVAL OF THE CHAIR OF THE BOARD AND IS REPORTED TO THE CHAIR OF THE AUDIT & COMPLIANCE COMMITTEE OF THE BOARD OF DIRECTORS.
FORM 990, PART VI, SECTION B, LINE 15 THROUGH AN AMENDMENT OF THE FILING ORGANIZATION'S BYLAWS, A SENIOR EXECUTIVE COMPENSATION COMMITTEE (THE "COMMITTEE") OF THE FILING ORGANIZATION'S BOARD WAS CREATED; IT IS COMPRISED OF THE MEMBERS OF THE ADVOCATE HEALTH, INC. COMPENSATION, BENEFITS, AND EQUITY COMMITTEE. THE COMPENSATION, BENEFITS, AND EQUITY COMMITTEE OF THE ADVOCATE HEALTH, INC. BOARD OF DIRECTORS HAS AUTHORITY AS THE WFUBMC BOARD DELEGATES TO IT, FOR THE REVIEW AND APPROVAL OF SENIOR EXECUTIVE COMPENSATION, INCLUDING SENIOR EXECUTIVE INCENTIVE PLANS. NO MEMBER OF THE COMMITTEE IS AN EMPLOYEE OF THE MARKET REGION. THE COMMITTEE RELIES UPON AN EXTERNAL, INDEPENDENT COMPENSATION CONSULTANT EXPERIENCED IN HEALTHCARE TO PROVIDE THE COMMITTEE WITH COMPENSATION COMPARABILITY DATA FOR NEW EXECUTIVE POSITION APPOINTMENTS AND FOR COMPENSATION REVIEWS FOR EXISTING EXECUTIVES. THE CONSULTANT, WHICH IS RETAINED DIRECTLY BY THE COMMITTEE, PROVIDES THIRD-PARTY INFORMATION AND EVALUATES THE COMPETITIVENESS AND REASONABLENESS OF EXECUTIVE COMPENSATION AND BENEFITS PROGRAMS IN RELATION TO MARKET PRACTICES FOR SIMILARLY SITUATED HEALTHCARE ORGANIZATIONS. THE COMMITTEE MAKES ITS DECISIONS WITH RESPECT TO EXECUTIVE COMPENSATION IN ACCORDANCE WITH MARKET REGION POLICIES, IRS REGULATIONS, AND STANDARD CORPORATE GOVERNANCE PRACTICES. SUCH POLICIES INCLUDE ADHERENCE TO EXECUTIVE COMPENSATION PHILOSOPHY AND REVIEW PROCESSES; PROCESSES ENSURING COMMITTEE MEMBER AND COMPENSATION CONSULTANT INDEPENDENCE; USE OF VALID MARKET COMPARISONS OF DATA FROM HEALTHCARE ORGANIZATIONS OF SIMILAR SIZE, STRUCTURE, AND COMPLEXITY AND ESTABLISHMENT OF THE REBUTTABLE PRESUMPTION OF REASONABLENESS, PER IRS GUIDELINES. MINUTES OF THE DELIBERATIONS OF THE COMMITTEE ARE MAINTAINED IN THE ADVOCATE HEALTH, INC. LEGAL DEPARTMENT.
FORM 990, PART VI, SECTION C, LINE 19 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, AND ARE ATTACHED TO THE FORM 1023 FILED FOR THE ORGANIZATION WITH THE IRS, WHICH IS PUBLICLY AVAILABLE. THE CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC ON REQUEST.
PART VII, SECTION A, COLUMN B - HOURS A MEDICAL CENTER INTEGRATION AGREEMENT (MCIA) WAS ORIGINALLY ENTERED INTO IN 2010 AMONG FOUR PARTIES: WAKE FOREST UNIVERSITY (WFU), WAKE FOREST UNIVERSITY HEALTH SCIENCES (WFUHS), WAKE FOREST UNIVERSITY BAPTIST MEDICAL CENTER (WFUBMC), AND NORTH CAROLINA BAPTIST HOSPITAL (NCBH). PURSUANT TO THE TERMS OF THE ORIGINAL MCIA, THE OPERATION OF WFUHS AND NCBH, AND ALL OF THE RESPECTIVE SUBSIDIARIES OF EACH, IS DELEGATED TO WFUBMC. ADDITIONALLY, THE CORPORATE OFFICERS OF WFUBMC GENERALLY SERVE AS THE CORPORATE OFFICERS OF WFUHS AND NCBH. THE MCIA WAS REVISED AND RESTATED IN 2020 TO DELEGATE OVERSIGHT AND MANAGEMENT AUTHORITY OVER WFUBMC TO ATRIUM HEALTH, INC. (AHI). CERTAIN DIRECTORS AND/OR CORPORATE OFFICERS OF WFUHS, NCBH, & WFUBMC ALSO SERVE AS DIRECTORS OR CORPORATE OFFICERS OF AHI AND/OR OF WFU. WFU AND WFUBMC ARE ORGANIZATIONS RELATED TO THE FILING ORGANIZATION. NCBH AND AHI ARE ORGANIZATIONS UNRELATED TO THE FILING ORGANIZATION. THUS, CERTAIN DIRECTORS AND OFFICERS OF THE FILING ORGANIZATION DEVOTE HOURS TO RELATED ORGANIZATIONS (WFU AND WFUBMC) AND THEIR SUBSIDIARIES AND/OR TO UNRELATED ORGANIZATIONS (NCBH AND AHI) AND THEIR SUBSIDIARIES.
FORM 990, PART XI, LINE 9: EQUITY METHOD AFFILIATES -69,784,859. ACTUARIAL GAIN 2,556,037.
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 51056K
Schedule O (Form 990) (Rev. 1-2025)


Additional Data


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SCHEDULE R
(Form 990)
(Rev. January 2025)
Department of the Treasury
Internal Revenue Service
Related Organizations and Unrelated Partnerships
Complete if the organization answered "Yes" on Form 990, Part IV, line 33, 34, 35b, 36, or 37.
Attach to Form 990.
Go to www.irs.gov/Form990 for instructions and the latest information.

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

22-3849199
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) BRF-A1A LLC
MEDICAL CENTER BOULEVARD
WINSTON SALEM,NC27157
20-3073357 		REAL ESTATE HOLDING COMPANY NC 551,329 21,409 WAKE FOREST UNIV HEALTH SCIENCES
 
(2) WFIQ HOLDINGS LLC
MEDICAL CENTER BOULEVARD
WINSTON SALEM,NC27157
05-0549344 		REAL ESTATE HOLDING COMPANY NC 1,970,732 89,824,663 WAKE FOREST UNIV HEALTH SCIENCES
 
(3) SEED STAGE ASSOCIATES LLC
200 EAST FIRST ST SUITE 101
WINSTON SALEM,NC27101
65-1198831 		TECHNOLOGY TRANSFER & LICENSING OF INTELLECTUAL PROPERTY NC 0 0 WAKE FOREST UNIV HEALTH SCIENCES
 
(4) BRF DECK 1 LLC
MEDICAL CENTER BOULEVARD
WINSTON SALEM,NC27157
86-1123819 		REAL ESTATE HOLDING COMPANY NC 0 0 WAKE FOREST UNIV HEALTH SCIENCES
 
(5) BRF-A1 LLC
MEDICAL CENTER BOULEVARD
WINSTON SALEM,NC27157
86-1123822 		REAL ESTATE HOLDING COMPANY NC -50,364 459,960 WAKE FOREST UNIV HEALTH SCIENCES
 
(6) WFIQ HOLDINGS II LLC
MEDICAL CENTER BOULEVARD
WINSTON SALEM,NC27157
27-1917927 		REAL ESTATE HOLDING COMPANY NC 0 0 WAKE FOREST UNIV HEALTH SCIENCES
 
(7) WFIQ HOLDINGS III LLC
MEDICAL CENTER BOULEVARD
WINSTON SALEM,NC27157
27-1918085 		REAL ESTATE HOLDING COMPANY NC -6,111 1,726,967 WAKE FOREST UNIV HEALTH SCIENCES
 
(8) PARK IMP 1 LLC
MEDICAL CENTER BOULEVARD
WINSTON SALEM,NC27157
27-2070963 		REAL ESTATE HOLDING COMPANY NC 0 0 WAKE FOREST UNIV HEALTH SCIENCES
 
(9) WAKE FOREST AMBULATORY VENTURES LLC (FR 9124)
MEDICAL CENTER BOULEVARD
WINSTON SALEM,NC27157
82-0777206 		HEALTHCARE NC 4,582,290 1,123,142 WAKE FOREST UNIV HEALTH SCIENCES
 
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 BAPTIST MEDICAL CENTER
MEDICAL CENTER BOULEVARD

WINSTON SALEM,NC27157
51-0190238 		FACILITATE THE CARRYING OUT OF THE FUNCTIONS AND PURPOSES OF WFUHS & NCBH NC 501(C)(3) LINE 12A, I N/A
 
No
(2)WAKE FOREST UNIVERSITY HEALTH SCIENCES GROUP RETURN
MEDICAL CENTER BOULEVARD

WINSTON SALEM,NC27157
90-0222618 		HEALTHCARE NC 501(C)(3) LINE 12A, I WAKE FOREST UNIV HEALTH SCIENCES
 
Yes
 
(3)WAKE FOREST EMERGENCY PROVIDERS
MEDICAL CENTER BOULEVARD

WINSTON SALEM,NC27157
56-1903275 		HEALTHCARE NC 501(C)(3) LINE 3 WAKE FOREST UNIV HEALTH SCIENCES
 
Yes
 
(4)CHILDRESS INSTITUTE FOR PEDIATRIC TRAUMA
575 N PATTERSON STREET

WINSTON SALEM,NC27101
46-3674691 		HEALTHCARE RESEARCH NC 501(C)(3) LINE 7 WAKE FOREST UNIV HEALTH SCIENCES
 
Yes
 
(5)REGENMED DEVELOPMENT ORGANIZATION
MEDICAL CENTER BOULEVARD

WINSTON SALEM,NC27157
20-2710571 		HEALTHCARE RESEARCH NC 501(C)(3) LINE 7 WAKE FOREST UNIV HEALTH SCIENCES
 
Yes
 
(6)WAKE FOREST UNIVERSITY DEVELOPMENT FOUNDATION
PO BOX 7201

WINSTON SALEM,NC27109
56-2038194 		MANAGEMENT/SALE OF CHARITABLE REAL PROPERTY GIFTS NC 501(C)(3) LINE 12A, I WAKE FOREST UNIVERSITY
 
 
No
(7)REYNOLDA HOUSE INC
POBOX 7287

WINSTON SALEM,NC27109
56-0810676 		MUSEUM OF AMERICAN ART NC 501(C)(3) LINE 7 WAKE FOREST UNIVERSITY
 
 
No
(8)WAKE FOREST UNIVERSITY FOUNDATION
PO BOX 7201

WINSTON SALEM,NC27109
56-2038193 		REAL ESTATE HOLDING AND MANAGEMENT NC 501(C)(3) LINE 12A, I WAKE FOREST UNIVERSITY
 
 
No
(9)INNOVATION QUARTER
MEDICAL CENTER BOULEVARD

WINSTON SALEM,NC27157
06-1818498 		RESEARCH PARK DEVELOPMENT NC 501(C)(3) LINE 12A, I WAKE FOREST UNIV HEALTH SCIENCES
 
Yes
 
(10)WAKE FOREST INNOVATION QUARTER DEVELOPMENT CO
MEDICAL CENTER BOULEVARD

WINSTON SALEM,NC27157
56-2094067 		RESEARCH PARK DEVELOPMENT NC 501(C)(6)   WAKE FOREST UNIV HEALTH SCIENCES
 
Yes
 
(11)WAKE FOREST INNOVATION QUARTER CDC
MEDICAL CENTER BOULEVARD

WINSTON SALEM,NC27157
20-0177581 		RESEARCH PARK DEVELOPMENT NC 501(C)(3) LINE 12A, I WAKE FOREST UNIV HEALTH SCIENCES
 
Yes
 
(12)MEDICAL FOUNDATION OF WFUHS & NCBH
MEDICAL CENTER BOULEVARD

WINSTON SALEM,NC27157
56-6036688 		SUPPORTING ORGANIZATION NC 501(C)(3) LINE 12A, I N/A
 
No
(13)WAKE FOREST UNIVERSITY
PO BOX 7201

WINSTON SALEM,NC27109
56-0532138 		UNIVERSITY NC 501(C)(3) LINE 2 N/A
 
No
(14)ADVOCATE HEALTH INC
1000 BLYTHE BLVD

CHARLOTTE,NC28203
88-4157429 		HEALTHCARE NC 501(C)(3) LINE 12B, II  
 
No
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50135Y
Schedule R (Form 990) (Rev. 1-2025)
Schedule R (Form 990) (Rev. 1-2025)
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 FUND II LLC

751 W FOURTH STREET STE 410
WINSTON SALEM,NC27101
35-2514227 		INVESTMENT NC WAKE FOREST UNIVERSITY HEALTH SCIENCES
  		EXCLUDED 36,987,872 573,417,524   No     No 64.310 %
(2) VERGER CAPITAL FUND LLC

751 W FOURTH STREET STE 410
WINSTON SALEM,NC27101
46-4027021 		INVESTMENT NC N/A
         No     No  
(3) VERGER CAPITAL MANAGEMENT LLC

751 W FOURTH STREET STE 410
WINSTON SALEM,NC27101
46-4037343 		INVESTMENT NC N/A
         No     No  
(4) WAKE FOREST AMBULATORY VENTURES LLC (TO 83124)

MEDICAL CENTER BOULEVARD
WINSTON SALEM,NC27157
82-0777206 		HEALTHCARE NC WAKE FOREST UNIVERSITY HEALTH SCIENCES
  		EXCLUDED 1,339,546     No     No 80.000 %
(5) WAKE FOREST TECHNOLOGY DEVELOPMENT PROGRAM LP

2520 MERIDIAN PARKWAY
DURHAM,NC27713
47-5437596 		INVESTMENT NC WAKE FOREST UNIVERSITY HEALTH SCIENCES
  		EXCLUDED       No     No 99.000 %




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) CHARITABLE REMAINDER TRUSTS

MEDICAL CENTER BOULEVARD
WINSTON SALEM,NC27157
 INVESTMENT NC WAKE FOREST UNIVERSITY HEALTH SCIENCES
  		          No
(2) NORTH DISTRICT OWNERS ASSOCIATION

MEDICAL CENTER BOULEVARD
WINSTON SALEM,NC27157
47-1128865 		PROPERTY OWNERS ASSOCIATION NC N/A
 C         No










Schedule R (Form 990) (Rev. 1-2025)
Schedule R (Form 990) (Rev. 1-2025)
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
Yes
 
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
 
No
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
Yes
 
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
Yes
 
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
 
No
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) MEDICAL FOUNDATION OF WFUHS & NCBH

 P 598,182 COST
(2) REGENMED DEVELOPMENT ORGANIZATION

 Q 126,629 COST
(3) WAKE FOREST AMBULATORY VENTURES LLC

 A 688,664 COST
(4) WAKE FOREST AMBULATORY VENTURES LLC

 P 94,985 COST
(5) WAKE FOREST EMERGENCY PROVIDERS

 P 22,274,894 COST
(6) INNOVATION QUARTER

 Q 170,636 COST
(7) WAKE FOREST UNIVERSITY HEALTH SCIENCES GROUP RETURN

 N 2,295,706 FMV
(8) WAKE FOREST UNIVERSITY HEALTH SCIENCES GROUP RETURN

 L 1,027,755 COST
(9) WAKE FOREST UNIVERSITY HEALTH SCIENCES GROUP RETURN

 P 1,009,677 COST
Schedule R (Form 990) (Rev. 1-2025)
Schedule R (Form 990) (Rev. 1-2025)
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) (Rev. 1-2025)
Schedule R (Form 990) (Rev. 1-2025)
Page 5
Part VII
Supplemental Information
Provide additional information for responses to questions on Schedule R. See instructions.
Return Reference Explanation
Schedule R (Form 990) (Rev. 1-2025)

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