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← MEDICAL FOUNDATION OF WAKE FOREST UNIVERSITY HEALTH SCIENCES AND THE

Form 990 for tax year 2023

Filed by MEDICAL FOUNDATION OF WAKE FOREST UNIVERSITY HEALTH SCIENCES AND THE.

Totals

Total revenue
$71,862
Total expenses
$0
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$167,869
Other revenue
-$96,007
Total assets, end of year
$12,496,242
Total liabilities, end of year
$59,623
Net assets or fund balances, end of year
$12,436,619
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
not reported

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.

  • 3 · Investment income

    total $58,258 · excluded $58,258

  • 6b · Less rental expenses

    real property $96,007

  • 6c · Rental income or loss

    real property -$96,007

  • 6d · Net rental income or loss

    total -$96,007 · excluded -$96,007

  • 7a · Gross sales of assets other than inventory

    securities $109,611

  • 7b · Less cost or other basis and sales expenses

    securities $0

  • 7c · Gain or loss

    securities $109,611

  • 7d · Net gain or loss

    total $109,611 · excluded $109,611

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,413,288 · end of year $3,658,421

  • 4 · Accounts receivable

    beginning of year $203,390 · end of year $203,390

  • 10a · Land, buildings and equipment: cost or other basis

    $3,358,713

  • 10b · Land, buildings and equipment: accumulated depreciation

    $1,302,070

  • 10c · Land, buildings and equipment, net

    beginning of year $2,063,187 · end of year $2,056,643

  • 13 · Investments: program-related

    beginning of year $6,470,406 · end of year $6,577,788

  • 25 · Other liabilities

    beginning of year $59,623 · end of year $59,623

  • 27 · Net assets without donor restrictions

    beginning of year $12,090,648 · end of year $12,436,619

Mission and programs · 2023

Mission

SEE SCHEDULE OTO AID AND PROMOTE, BY FINANCIAL ASSISTANCE AND OTHERWISE, ALL TYPES OF EDUCATION, SERVICE, AND RESEARCH IN THE FIELDS OF PREVENTIVE AND CURATIVE MEDICINE; THE SCIENTIFIC DEVELOPMENT AND GENERAL IMPROVEMENT OF WAKE FOREST UNIVERSITY HEALTH SCIENCES (WFUHS) AND NORTH CAROLINA BAPTIST HOSPITAL (NCBH); TO ENLARGE AND IMPROVE THE FACILITIES OF WFUHS AND NCBH; TO RENDER AID AND ASSISTANCE TO WFUHS AND NCBH BY PROMOTION OF MEDICAL SCIENCE AND MEDICAL KNOWLEDGE, PUBLICATION AND DISTRIBUTION OF LITERATURE IN FURTHERENCE OF SUCH PURPOSES; AND TO AID/ASSIST WFUHS AND NCBH IN EDUCATION AND TRAINING OF PHYSICIANS, NURSES, TECHNICIANS, AND SCIENTISTS SUCH THAT WFUHS AND NCBH QUALITY OF TRAINING AND SERVICE SHALL BE STEADILY IMPROVED.

Activities or mission (Part I)

TO AID AND PROMOTE, BY FINANCIAL ASSISTANCE AND OTHERWISE, ALL TYPES OF EDUCATION, SERVICE, AND RESEARCH IN THE FIELDS OF PREVENTIVE AND CURATIVE MEDICINE.

  • TO RENDER AID AND ASSISTANCE TO WFUHS AND NCBH IN THEIR PURSUITS BY APPROVED METHODS FOR THE PROMOTION OF MEDICAL SCIENCE AND MEDICAL KNOWLEDGE, THE PUBLICATION AND DISTRIBUTION OF LITERATURE, THE EDUCATION AND TRAINING OF PHYSICIANS, NURSES, TECHNICIANS, AND SCIENTISTS FOR PRACTICE OR EMPLOYMENT WITHIN NORTH CAROLINA AND ELSEWHERE, AND IMPROVE THE QUALITY OF TRAINING AND SERVICE RENDERED.

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Julie Ann Freischlag MD

    TRUSTEE & PRESIDENT

    Total calculated
    $5,244,157
    From this org
    $0
    From related orgs
    $5,194,069
    Other
    $50,088
    Hours/week
    0.1 + 39.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $2,522,156 related
    Bonus
    $0 + $1,971,675 related
    Other
    $0 + $700,238 related
    Deferred
    $0 + $18,294 related
    Nontaxable benefits
    $0 + $31,794 related
    Filer's total
    $0 + $5,244,157 related

  • Bradley A Clark

    TRUSTEE & TREASURER

    Total calculated
    $1,577,771
    From this org
    $1,431,976
    From related orgs
    $0
    Other
    $145,795
    Hours/week
    0.1 + 39.9 related

    Schedule J breakdown matched by us

    Base
    $991,783
    Bonus
    $356,324
    Other
    $83,869
    Deferred
    $109,999
    Nontaxable benefits
    $35,796
    Filer's total
    $1,577,771

  • J McLain Wallace Jr

    SECRETARY

    Total calculated
    $1,019,508
    From this org
    $983,574
    From related orgs
    $0
    Other
    $35,934
    Hours/week
    0.1 + 39.9 related

    Schedule J breakdown matched by us

    Base
    $611,075
    Bonus
    $228,185
    Other
    $144,314
    Deferred
    $20,425
    Nontaxable benefits
    $15,509
    Filer's total
    $1,019,508

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)

PART I, LINE 4B
CERTAIN TRUSTEES AND OFFICERS OF THE FILING ORGANIZATION PARTICIPATED IN AND/OR RECEIVED PAYMENTS FROM A NON-QUALIFIED DEFERRED COMPENSATION PLAN (RESTORATION OR SERP). THE DETERMINATION OF THE PAYMENT AMOUNT FROM THE NON-QUALIFIED DEFERRED COMPENSATION PLANS FOLLOWED THE EMPLOYMENT ORGANIZATION'S COMPENSATION PROCEDURES. THE FOLLOWING TRUSTEE AND OFFICER RECEIVED PAYMENTS FROM A NON-QUALIFIED DEFERRED COMPENSATION PLAN DURING THE CURRENT TAX YEAR: JULIE A. FREISCHLAG, MD 624,800 BRADLEY A. CLARK 80,393 J. MCLAIN WALLACE, JR. 114,290
FORM 990, PART VII, LINE 5 COMPENSATION FROM UNRELATED ORGANIZATIONS
BRADLEY A. CLARK WAS 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 FOR HIS COMPENSATION. J. MCLAIN WALLACE, JR. WAS COMPENSATED BY WAKE FOREST UNIVERSITY BAPTIST MEDICAL CENTER, AN AFFILIATED BUT UNRELATED ORGANIZATION, FOR SERVICES RENDERED TO THE ORGANIZATION. SEE PART VII AND SCHEDULE J FOR HIS COMPENSATION.

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.

Provenance

Return type
form_990
Tax year
2023
Filed
14 November 2024
IRS schema version
2023v5.1
Source object
202423209349300812

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