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Nonprofiteer
← WAKE FOREST UNIVERSITY HEALTH SCIENCES

Form 990 for tax year 2023

Filed by WAKE FOREST UNIVERSITY HEALTH SCIENCES.

Totals

Total revenue
$1,642,738,661
Total expenses
$1,535,945,189
Contributions and grants received
$366,067,620
Grants paid
$74,207,537
Program service revenue
$1,203,401,838
Investment income
$68,749,404
Other revenue
$4,519,799
Total assets, end of year
$2,098,996,618
Total liabilities, end of year
$1,115,264,668
Net assets or fund balances, end of year
$983,731,950
Program services expenses (Part IX)
$1,446,110,095
Management and general expenses
$87,874,375
Fundraising expenses
$1,960,719
Program service expenses (Part III)
$1,446,110,095

Program services were 94.2% 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.

  • 1c · Fundraising events

    $542,234

  • 1e · Government grants (contributions)

    $294,968,818

  • 1f · All other contributions, gifts and grants

    $70,556,568

  • 1g · Noncash contributions included above

    $3,290,579

  • 2a · Program service revenue: PATIENT SERVICE REVENUE

    total $1,138,745,002 · related or exempt $1,138,745,002

  • 2b · Program service revenue: TUITION REVENUE

    total $64,656,836 · related or exempt $64,656,836

  • 3 · Investment income

    total $52,172,139 · unrelated business $96,738 · excluded $52,075,401

  • 5 · Royalties

    total $193,794 · excluded $193,794

  • 6a · Gross rents

    real property $1,357,804

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $1,357,804

  • 6d · Net rental income or loss

    total $1,357,804 · excluded $1,357,804

  • 7a · Gross sales of assets other than inventory

    securities $19,559,493

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

    securities $0 · other assets $2,982,228

  • 7c · Gain or loss

    securities $19,559,493 · other assets -$2,982,228

  • 7d · Net gain or loss

    total $16,577,265 · excluded $16,577,265

  • 8a · Fundraising events: gross income

    $0

  • 8a · Fundraising events: contributions included on line 1c

    $542,234

  • 8b · Fundraising events: direct expenses

    $297,676

  • 8c · Net income from fundraising events

    total -$297,676 · excluded -$297,676

  • 11a · Other revenue: OTHER REVENUE

    total $3,034,018 · related or exempt $283,613 · unrelated business $2,750,405

  • 11b · Other revenue: PARKING REVENUE

    total $231,859 · excluded $231,859

  • 11e · Other revenue, total

    $3,265,877

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $41,008,881 · program services $41,008,881

  • 2 · Grants to domestic individuals

    total $28,465,738 · program services $28,465,738

  • 3 · Grants to foreign organizations and individuals

    total $4,732,918 · program services $4,732,918

  • 5 · Compensation of officers, directors and key employees

    total $29,989,040 · program services $14,964,531 · management and general $14,994,520 · fundraising $29,989

  • 7 · Other salaries and wages

    total $823,375,375 · program services $790,406,381 · management and general $32,662,360 · fundraising $306,634

  • 8 · Pension plan contributions

    total $58,857,900 · program services $56,464,216 · management and general $2,334,826 · fundraising $58,858

  • 9 · Other employee benefits

    total $92,449,664 · program services $88,690,193 · management and general $3,667,030 · fundraising $92,441

  • 10 · Payroll taxes

    total $55,780,112 · program services $53,511,599 · management and general $2,212,733 · fundraising $55,780

  • 11b · Fees: legal

    total $5,005,669 · program services $5,005,669

  • 11c · Fees: accounting

    total $682,067 · management and general $682,067

  • 11d · Fees: lobbying

    total $129,853 · program services $129,853

  • 11e · Fees: professional fundraising services

    total $1,267,219 · fundraising $1,267,219

  • 11f · Fees: investment management

    total $7,341,930 · program services $4,874,224 · management and general $2,460,364 · fundraising $7,342

  • 11g · Fees: other

    total $83,666,638 · program services $80,080,480 · management and general $3,532,267 · fundraising $53,891

  • 12 · Advertising and promotion

    total $609,613 · program services $569,046 · management and general $39,957 · fundraising $610

  • 13 · Office expenses

    total $14,067,671 · program services $11,305,350 · management and general $2,748,253 · fundraising $14,068

  • 14 · Information technology

    total $2,577,287 · program services $2,071,212 · management and general $503,498 · fundraising $2,577

  • 15 · Royalties

    total $1,024,745 · program services $1,024,745

  • 16 · Occupancy

    total $59,049,159 · program services $47,454,291 · management and general $11,535,819 · fundraising $59,049

  • 17 · Travel

    total $9,467,578 · program services $7,628,845 · management and general $1,829,369 · fundraising $9,364

  • 19 · Conferences, conventions and meetings

    total $2,896,737 · program services $2,327,935 · management and general $565,905 · fundraising $2,897

  • 20 · Interest

    total $5,696,664 · program services $3,781,951 · management and general $1,914,713

  • 22 · Depreciation, depletion and amortization

    total $34,091,504 · program services $29,777,971 · management and general $4,313,533

  • 23 · Insurance

    total $11,452,155 · program services $11,435,898 · management and general $16,257

  • 24a · Other expenses: MEDICAL SUPPLIES

    total $89,108,606 · program services $89,108,606

  • 24b · Other expenses: BAD DEBT

    total $63,187,076 · program services $63,187,076

  • 24c · Other expenses: OTHER SUPPLIES

    total $8,806,995 · program services $7,110,663 · management and general $1,696,332

  • 24d · Other expenses: OTHER MISCELLANEOUS EXP

    total $1,162,821 · program services $984,772 · management and general $178,049

  • 24e · All other expenses

    total -$6,426 · program services $7,051 · management and general -$13,477

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $8,778,364 · end of year $776,255

  • 3 · Pledges and grants receivable

    beginning of year $84,812,738 · end of year $112,941,032

  • 4 · Accounts receivable

    beginning of year $125,686,449 · end of year $182,694,821

  • 7 · Other notes and loans receivable

    beginning of year $15,254,169 · end of year $261,439

  • 8 · Inventories for sale or use

    beginning of year $4,262,528 · end of year $3,310,978

  • 9 · Prepaid expenses and deferred charges

    beginning of year $4,259,219 · end of year $4,221,008

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

    $959,768,751

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

    $617,094,670

  • 10c · Land, buildings and equipment, net

    beginning of year $384,067,465 · end of year $342,674,081

  • 11 · Investments: publicly traded securities

    beginning of year $1,180,000 · end of year $1,010,000

  • 12 · Investments: other securities

    beginning of year $1,056,874,535 · end of year $1,177,997,163

  • 13 · Investments: program-related

    beginning of year $3,298,532 · end of year $3,418,170

  • 14 · Intangible assets

    beginning of year $2,284,834 · end of year $2,134,366

  • 15 · Other assets

    beginning of year $250,280,530 · end of year $267,557,305

  • 17 · Accounts payable and accrued expenses

    beginning of year $683,629,194 · end of year $688,994,756

  • 19 · Deferred revenue

    beginning of year $65,309,479 · end of year $63,854,913

  • 20 · Tax-exempt bond liabilities

    beginning of year $119,381,173 · end of year $115,646,226

  • 23 · Secured mortgages and notes payable

    beginning of year $40,819,969 · end of year $2,499,122

  • 25 · Other liabilities

    beginning of year $201,611,731 · end of year $244,269,651

  • 27 · Net assets without donor restrictions

    beginning of year $533,257,154 · end of year $612,087,654

  • 28 · Net assets with donor restrictions

    beginning of year $297,030,663 · end of year $371,644,296

Mission and programs · 2023

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.

Activities or mission (Part I)

TO IMPROVE HEALTH, ELEVATE HOPE AND ADVANCE HEALING FOR ALL.

  • 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 (1,213 GRANTS).

    Expenses $36,500,190 · Grants $23,804,482 · Revenue $283,613

  • PATIENT CARE AND MEDICAL EXPENSES IN PROVIDING SERVICES TO OVER 1,526,000 PATIENT ENCOUNTERS DURING THE TAX YEAR.

    Expenses $1,052,937,330 · Grants $60,611 · Revenue $1,138,745,002

  • PROFESSIONAL EDUCATION: INSTRUCTION OF 2,076 MEDICAL, GRADUATE, PHYSICIAN ASSISTANT, CRNA, AND BIOMEDICAL ENGINEERING STUDENTS. SCHOLARSHIPS AND AID PROVIDED TO 1,790 STUDENTS.

    Expenses $356,672,575 · Grants $50,342,444 · Revenue $64,656,836

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

    DIRECTOR, CEO AHWFB

    Total calculated
    $5,244,157
    From this org
    $5,194,069
    From related orgs
    $0
    Other
    $50,088
    Hours/week
    15.7 + 24.3 related

    Schedule J breakdown matched by us

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

  • Kevin P High MD

    PRES, HEALTH SYSTEM (TO 7/1/23)

    Total calculated
    $2,321,984
    From this org
    $2,269,909
    From related orgs
    $0
    Other
    $52,075
    Hours/week
    5.8 + 34.2 related

    Schedule J breakdown matched by us

    Base
    $788,427
    Bonus
    $400,022
    Other
    $1,081,460
    Deferred
    $22,651
    Nontaxable benefits
    $29,424
    Filer's total
    $2,321,984

  • Terry G Williams

    FORMER OFFICER (7/31/22)

    Total calculated
    $1,962,384
    From this org
    $1,681,163
    From related orgs
    $0
    Other
    $281,221
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $888,845
    Bonus
    $750,375
    Other
    $41,943
    Deferred
    $250,841
    Nontaxable benefits
    $30,380
    Filer's total
    $1,962,384

  • Kenneth Lennon MD

    CLIN ADJ FACULTY

    Total calculated
    $1,902,505
    From this org
    $0
    From related orgs
    $1,851,726
    Other
    $50,779
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $1,837,728 related
    Bonus
    $0 + $11,478 related
    Other
    $0 + $2,520 related
    Deferred
    $0 + $20,510 related
    Nontaxable benefits
    $0 + $30,269 related
    Filer's total
    $0 + $1,902,505 related

  • Susan R Wente PhD

    DIRECTOR, PRES WFU

    Total calculated
    $1,799,376
    From this org
    $0
    From related orgs
    $1,473,696
    Other
    $325,680
    Hours/week
    3 + 37 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,041,165 related
    Bonus
    $0 + $358,750 related
    Other
    $0 + $73,781 related
    Deferred
    $0 + $250,725 related
    Nontaxable benefits
    $0 + $74,955 related
    Filer's total
    $0 + $1,799,376 related

  • Edward H Kincaid MD

    DEPT. CHAIR

    Total calculated
    $1,654,330
    From this org
    $1,601,841
    From related orgs
    $0
    Other
    $52,489
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $1,315,894
    Bonus
    $258,545
    Other
    $27,402
    Deferred
    $21,390
    Nontaxable benefits
    $31,099
    Filer's total
    $1,654,330

  • Bradley A Clark

    EVP, TREASURER

    Total calculated
    $1,577,771
    From this org
    $1,431,976
    From related orgs
    $0
    Other
    $145,795
    Hours/week
    1 + 39 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

  • Anthony Atala MD

    DEPT. CHAIR

    Total calculated
    $1,519,514
    From this org
    $1,465,039
    From related orgs
    $0
    Other
    $54,475
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $1,029,761
    Bonus
    $231,800
    Other
    $203,478
    Deferred
    $23,312
    Nontaxable benefits
    $31,163
    Filer's total
    $1,519,514

  • Charles Branch

    DEPT. CHAIR

    Total calculated
    $1,385,025
    From this org
    $1,336,526
    From related orgs
    $0
    Other
    $48,499
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $1,297,658
    Bonus
    $24,390
    Other
    $14,478
    Deferred
    $22,589
    Nontaxable benefits
    $25,910
    Filer's total
    $1,385,025

  • Craig Greven

    DEPT. CHAIR

    Total calculated
    $1,253,324
    From this org
    $1,206,838
    From related orgs
    $0
    Other
    $46,486
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $1,015,057
    Bonus
    $157,803
    Other
    $33,978
    Deferred
    $23,624
    Nontaxable benefits
    $22,862
    Filer's total
    $1,253,324

  • E Ebony Boulware MD

    DEAN, WFU SOM

    Total calculated
    $955,441
    From this org
    $923,292
    From related orgs
    $0
    Other
    $32,149
    Hours/week
    35 + 5 related

    Schedule J breakdown matched by us

    Base
    $860,314
    Bonus
    $60,356
    Other
    $2,622
    Deferred
    $12,739
    Nontaxable benefits
    $19,410
    Filer's total
    $955,441

  • Terry L Hales Jr

    ASST TREASURER

    Total calculated
    $923,316
    From this org
    $867,249
    From related orgs
    $0
    Other
    $56,067
    Hours/week
    35.2 + 4.8 related

    Schedule J breakdown matched by us

    Base
    $569,946
    Bonus
    $193,050
    Other
    $104,253
    Deferred
    $22,632
    Nontaxable benefits
    $33,435
    Filer's total
    $923,316

  • J Reid Morgan

    GEN COUNSEL & SEC (TO 7/1/23)

    Total calculated
    $799,445
    From this org
    $0
    From related orgs
    $690,571
    Other
    $108,874
    Hours/week
    8 + 32 related

    Schedule J breakdown matched by us

    Base
    $0 + $462,733 related
    Bonus
    $0 + $48,000 related
    Other
    $0 + $179,838 related
    Deferred
    $0 + $73,575 related
    Nontaxable benefits
    $0 + $35,299 related
    Filer's total
    $0 + $799,445 related

  • Lisa M Marshall

    VP, CH PHIL OF

    Total calculated
    $671,055
    From this org
    $0
    From related orgs
    $635,041
    Other
    $36,014
    Hours/week
    10.5 + 29.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $447,625 related
    Bonus
    $0 + $128,803 related
    Other
    $0 + $58,613 related
    Deferred
    $0 + $23,650 related
    Nontaxable benefits
    $0 + $12,364 related
    Filer's total
    $0 + $671,055 related

  • Stephan L Lillie

    SVP & CFO

    Total calculated
    $606,226
    From this org
    $0
    From related orgs
    $572,269
    Other
    $33,957
    Hours/week
    9.7 + 30.3 related

    Schedule J breakdown matched by us

    Base
    $0 + $430,988 related
    Bonus
    $0 + $140,400 related
    Other
    $0 + $881 related
    Deferred
    $0 + $23,265 related
    Nontaxable benefits
    $0 + $10,692 related
    Filer's total
    $0 + $606,226 related

  • William D Showalter

    FORMER OFFICER (5/13/22)

    Total calculated
    $550,339
    From this org
    $0
    From related orgs
    $520,841
    Other
    $29,498
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $0 + $192,487 related
    Bonus
    $0 + $226,796 related
    Other
    $0 + $101,558 related
    Deferred
    $0 + $21,047 related
    Nontaxable benefits
    $0 + $8,451 related
    Filer's total
    $0 + $550,339 related

  • David W Zaas MD

    PRES, HEALTH SYSTEM (FR 9/1/23)

    Total calculated
    $536,758
    From this org
    $530,164
    From related orgs
    $0
    Other
    $6,594
    Hours/week
    20 + 20 related

    Schedule J breakdown matched by us

    Base
    $333,787
    Bonus
    $180,000
    Other
    $16,377
    Deferred
    $0
    Nontaxable benefits
    $6,594
    Filer's total
    $536,758

  • Anita Conrad

    ASST SECRETARY (TO 10/31/23)

    Total calculated
    $261,900
    From this org
    $0
    From related orgs
    $218,902
    Other
    $42,998
    Hours/week
    12 + 28 related

    Schedule J breakdown matched by us

    Base
    $0 + $218,267 related
    Bonus
    $0
    Other
    $0 + $635 related
    Deferred
    $0 + $22,223 related
    Nontaxable benefits
    $0 + $20,775 related
    Filer's total
    $0 + $261,900 related

  • A Dale Jenkins

    CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Brenda Cline

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Brian A White

    SECRETARY (FR 7/1/23)

    Total calculated
    $0
    Hours/week
    2

  • Cathy Wall Thomas MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 3 related

  • Curtis C Farmer

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • David I Wahrhaftig

    DIRECTOR (FR 7/1/23)

    Total calculated
    $0
    Hours/week
    2

  • Donald E Flow

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    3 + 8 related

  • Donna A Boswell PhD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 9 related

  • Eric C Wiseman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Eric Eubank

    DIRECTOR (FR 7/1/23)

    Total calculated
    $0
    Hours/week
    2 + 4 related

  • Gerald F Roach

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • James Helvey III

    DIRECTOR (TO 6/30/23)

    Total calculated
    $0
    Hours/week
    2

  • James M O'Connell

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • John M Vann

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4 + 8 related

  • Marybeth Torbet Hays

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Matthew A King

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 10 related

  • Matthew Crawford

    DIRECTOR (FR 7/1/23)

    Total calculated
    $0
    Hours/week
    2 + 3 related

  • Mit B Shah

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Pete Carlson

    DIRECTOR (TO 6/30/23)

    Total calculated
    $0
    Hours/week
    2

  • Shannan Spence Townsend

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

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

  • 3 · Compensation committee
  • 3 · Approval by the board or compensation committee
  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 7 · Other non-fixed payments

Answered no

  • 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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

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, LINES 4A-B
CERTAIN DIRECTORS, OFFICERS, AND 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 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 167,000 BRADLEY A. CLARK 80,393 JULIE FREISCHLAG, MD 624,800 TERRY L. HALES, JR. 79,381 KEVIN HIGH, MD 1,052,872 LISA M. MARSHALL 51,857 J. REID MORGAN 112,500
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

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

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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • BRF-A1A LLC

    REAL ESTATE HOLDING COMPANY · NC · income $1,164,237 · assets $287,290

    Directly controlled by WAKE FOREST UNIV HEALTH SCIENCES

  • WFIQ HOLDINGS LLC

    REAL ESTATE HOLDING COMPANY · NC · income -$1,986,759 · assets $76,371,225

    Directly controlled by WAKE FOREST UNIV HEALTH SCIENCES

  • SEED STAGE ASSOCIATES LLC

    TECHNOLOGY TRANSFER & LICENSING OF INTELLECTUAL PROPERTY · NC

    Directly controlled by WAKE FOREST UNIV HEALTH SCIENCES

  • BRF DECK 1 LLC

    REAL ESTATE HOLDING COMPANY · NC

    Directly controlled by WAKE FOREST UNIV HEALTH SCIENCES

  • BRF-A1 LLC

    REAL ESTATE HOLDING COMPANY · NC · income -$26,750 · assets $232,940

    Directly controlled by WAKE FOREST UNIV HEALTH SCIENCES

  • WFIQ HOLDINGS II LLC

    REAL ESTATE HOLDING COMPANY · NC

    Directly controlled by WAKE FOREST UNIV HEALTH SCIENCES

  • WFIQ HOLDINGS III LLC

    REAL ESTATE HOLDING COMPANY · NC · income -$110,155 · assets $1,817,560

    Directly controlled by WAKE FOREST UNIV HEALTH SCIENCES

  • PARK IMP 1 LLC

    REAL ESTATE HOLDING COMPANY · NC

    Directly controlled by WAKE FOREST UNIV HEALTH SCIENCES

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • VERGER FUND II LLC

    EXCLUDED · INVESTMENT · NC · 64.31% owned · share of income $51,903,317 · share of assets $564,591,971

    Directly controlled by WAKE FOREST UNIVERSITY HEALTH SCIENCES

  • VERGER CAPITAL FUND LLC

    INVESTMENT · NC

  • VERGER CAPITAL MANAGEMENT LLC

    INVESTMENT · NC

  • WAKE FOREST AMBULATORY VENTURES LLC

    EXCLUDED · HEALTHCARE · NC · 80% owned · share of income $2,051,820 · share of assets $2,781,127

    Directly controlled by WAKE FOREST UNIVERSITY HEALTH SCIENCES

  • WAKE FOREST TECHNOLOGY DEVELOPMENT PROGRAM LP

    EXCLUDED · INVESTMENT · NC · 99% owned · share of income $22,444 · share of assets $5,497,836

    Directly controlled by WAKE FOREST UNIVERSITY HEALTH SCIENCES

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • CHARITABLE REMAINDER TRUSTS

    INVESTMENT · NC

    Directly controlled by WAKE FOREST UNIVERSITY HEALTH SCIENCES

  • NORTH DISTRICT OWNERS ASSOCIATION

    C · PROPERTY OWNERS ASSOCIATION · NC

Provenance

Return type
form_990
Tax year
2023
Filed
15 November 2024
IRS schema version
2023v5.1
Source object
202403209349312535

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