Totals
- Total revenue
- $220,427
- Total expenses
- $16,072
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $27,089
- Investment income
- $189,659
- Other revenue
- $3,679
- Total assets, end of year
- $5,326,211
- Total liabilities, end of year
- $600
- Net assets or fund balances, end of year
- $5,325,611
- Program services expenses (Part IX)
- $5,872
- Management and general expenses
- $10,200
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $5,872
Program services were 36.5% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
2a · Program service revenue: INCOME FROM STUDENT LOANS
total $27,089 · related or exempt $27,089
-
3 · Investment income
total $128,133 · excluded $128,133
-
7a · Gross sales of assets other than inventory
securities $237,226
-
7b · Less cost or other basis and sales expenses
securities $175,700
-
7c · Gain or loss
securities $61,526
-
7d · Net gain or loss
total $61,526 · excluded $61,526
-
11a · Other revenue: PROVISION FOR UNCOLLECTIBLE L
total $3,247 · excluded $3,247
-
11b · Other revenue: MISCELLANEOUS
total $432 · excluded $432
-
11e · Other revenue, total
$3,679
Functional expenses
Part IX, the statement of functional expenses.
-
11c · Fees: accounting
total $10,200 · management and general $10,200
-
24a · Other expenses: COLLECTION FEES
total $5,872 · program services $5,872
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $1,248,380 · end of year $1,573,311
-
4 · Accounts receivable
beginning of year $2,833 · end of year $278
-
7 · Other notes and loans receivable
beginning of year $767,586 · end of year $592,516
-
11 · Investments: publicly traded securities
beginning of year $2,864,931 · end of year $3,160,106
-
17 · Accounts payable and accrued expenses
beginning of year $1,600 · end of year $600
-
27 · Net assets without donor restrictions
beginning of year $4,882,130 · end of year $5,325,611
Mission and programs · 2022
Mission
THE JAMES W DENMARK LOAN FUND, INC HAS PROVIDED FINANCIAL ASSISTANCE IN THE FORM OF LOANS TO STUDENTS AT WAKE FOREST UNIVERSITY SINCE ITS INCEPTION IN 1887.
-
THE JAMES W DENMARK LOAN FUND, INC PROVIDES FINANCIAL ASSISTANCE IN THE FORM OF LOANS TO STUDENTS AT WAKE FOREST UNIVERSITY. IN THE CURRENT FISCAL YEAR, THE ORGANIZATION DID NOT FUND ANY LOANS. STUDENT NEEDS ARE ANALYZED BY THE WAKE FOREST UNIVERSITY FINANCIAL AID OFFICE AND THE SUM OF THE FUNDS REQUIRED ARE PROVIDED TO THE UNIVERSITY. REPAYMENTS ARE MADE DIRECTLY TO THE ORGANIZATION BY GRADUATED STUDENTS.
Expenses $5,872 · Revenue $27,089
As filed on the 2022 return.
Listed in Part VII
-
B Hofler MilamB HOFLER MILAM
DIRECTOR
- Total calculated
- $996,093
- From this org
- $0
- From related orgs
- $734,339
- Other
- $261,754
- Hours/week
- 1 + 39 related
Schedule J breakdown matched by us
- Base
- not reported + $673,495 related
- Bonus
- not reported + $40,000 related
- Other
- not reported + $20,844 related
- Deferred
- not reported + $230,500 related
- Nontaxable benefits
- not reported + $31,254 related
- Filer's total
- not reported + $996,093 related
-
J Reid MorganJ REID MORGAN
DIRECTOR / P
- Total calculated
- $789,953
- From this org
- $0
- From related orgs
- $647,740
- Other
- $142,213
- Hours/week
- 1 + 39 related
Schedule J breakdown matched by us
- Base
- not reported + $551,895 related
- Bonus
- not reported + $75,000 related
- Other
- not reported + $20,845 related
- Deferred
- not reported + $105,500 related
- Nontaxable benefits
- not reported + $36,713 related
- Filer's total
- not reported + $789,953 related
-
Mary TribbleMARY TRIBBLE
DIRECTOR
- Total calculated
- $256,764
- From this org
- $0
- From related orgs
- $229,720
- Other
- $27,044
- Hours/week
- 0.1 + 39.9 related
Schedule J breakdown matched by us
- Base
- not reported + $219,324 related
- Bonus
- not reported + $10,000 related
- Other
- not reported + $396 related
- Deferred
- not reported + $17,428 related
- Nontaxable benefits
- not reported + $9,616 related
- Filer's total
- not reported + $256,764 related
-
Thomas BenzaTHOMAS BENZA
DIRECTOR / S
- Total calculated
- $137,551
- From this org
- $0
- From related orgs
- $109,116
- Other
- $28,435
- Hours/week
- 0.1 + 39.9 related
-
Harold HolmesHAROLD HOLMES
DIRECTOR
- Total calculated
- $14,972
- From this org
- $0
- From related orgs
- $12,519
- Other
- $2,453
- Hours/week
- 0.1 + 39.9 related
-
Dr Richard D CarmichaelDR RICHARD D CARMICHAEL
DIRECTOR
- Total calculated
- $14,000
- From this org
- $0
- From related orgs
- $11,720
- Other
- $2,280
- Hours/week
- 0.1 + 39.9 related
-
W Douglas BlandW DOUGLAS BLAND
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
Dr Catherine T Harris End 1231DR CATHERINE T HARRIS END 1231
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
Kenneth A Zick IIKENNETH A ZICK II
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
Robert D MillsROBERT D MILLS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
Jenny R Puckett End 1231JENNY R PUCKETT END 1231
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
Dr J Howell Smith End 123DR J HOWELL SMITH END 123
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
Dr C Douglas Maynard End 1231DR C DOUGLAS MAYNARD END 1231
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
Sandra C BoyetteSANDRA C BOYETTE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
Murray C Greason JrMURRAY C GREASON JR
DIRECTOR / V
- Total calculated
- $0
- Hours/week
- 0.1
-
James J DunnJAMES J DUNN
TREASURER
- Total calculated
- $0
- Hours/week
- 0.3
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 4b · Supplemental nonqualified retirement plan
Answered no
- 4a · Severance or change-of-control payment
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
The filer's explanations (Part III)
- SCHEDULE J, PART III
- PART I, LINE 4B: J. REID MORGAN SERVES AS THE SENIOR VICE PRESIDENT AND GENERAL COUNSEL OF WAKE FOREST UNIVERSITY, A RELATED ORGANIZATION. HIS COMPENSATION FROM WAKE FOREST UNIVERSITY INCLUDES 75,000 SHOWN IN SCHEDULE J, PART II, COLUMN C, FROM HIS PARTICIPATION IN A DEFERRED COMPENSATION ARRANGEMENT. B. HOFLER MILAM SERVES AS THE EXECUTIVE VICE PRESIDENT, CFO. AND TREASURER OF WAKE FOREST UNIVERSITY, A RELATED ORGANIZATION. HIS COMPENSATION INCLUDES 200,000 SHOWN IN SCHEDULE J, PART II, COLUMN C, FROM HIS PARTICIPATION IN A DEFERRED COMPENSATION ARRANGEMENT. PART III - OTHER ADDITIONAL INFORMATION THE FILING ORGANIZATION HAS NO EMPLOYEES, AND NONE OF ITS OFFICERS OR DIRECTORS IS COMPENSATED FOR THEIR SERVICE TO THE FILING ORGANIZATION.
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
No itemized grants to organizations on this return.
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
501C3 · EDUCATION · NC
Directly controlled by NA
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 24 April 2024
- IRS schema version
- 2022v5.0
- Source object
- 202411349349303781
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