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Nonprofiteer
← WAKE FOREST INNOVATION QUARTER MANAGEMENT CO

Form 990 for tax year 2024

Filed by WAKE FOREST INNOVATION QUARTER MANAGEMENT CO.

Totals

Total revenue
$83,520
Total expenses
$2,689,124
Contributions and grants received
$0
Grants paid
$0
Program services expenses (Part IX)
$2,493,550
Management and general expenses
$195,574
Fundraising expenses
$0
Program service expenses (Part III)
$2,493,550

Program services were 92.7% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • J MCLAIN WALLACE JR

    DIRECTOR & TREASURER

    Total calculated
    $1,689,329
    From this org
    $1,659,102
    From related orgs
    $0
    Other
    $30,227
    Hours/week
    0.5 + 39.5 related

    Schedule J breakdown matched by us

    Base
    $599,511
    Bonus
    $371,024
    Other
    $688,567
    Deferred
    $22,898
    Nontaxable benefits
    $7,329
    Filer's total
    $1,689,329

  • TERRY L HALES JR

    DIRECTOR & PRESIDENT

    Total calculated
    $1,363,334
    From this org
    $0
    From related orgs
    $1,310,800
    Other
    $52,534
    Hours/week
    2 + 38 related

    Schedule J breakdown matched by us

    Base
    $0 + $576,900 related
    Bonus
    $0 + $617,413 related
    Other
    $0 + $116,487 related
    Deferred
    $0 + $22,781 related
    Nontaxable benefits
    $0 + $29,753 related
    Filer's total
    $0 + $1,363,334 related

  • SUSAN R WENTE PHD

    DIRECTOR & CHAIR

    Total calculated
    $1,593,017
    From this org
    $0
    From related orgs
    $1,229,582
    Other
    $363,435
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,129,530 related
    Bonus
    $0 + $32,250 related
    Other
    $0 + $67,802 related
    Deferred
    $0 + $288,531 related
    Nontaxable benefits
    $0 + $74,904 related
    Filer's total
    $0 + $1,593,017 related

  • J REID MORGAN

    FORMER OFFICER

    Total calculated
    $469,700
    From this org
    $0
    From related orgs
    $412,282
    Other
    $57,418
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $0 + $366,986 related
    Bonus
    $0 + $39,600 related
    Other
    $0 + $5,696 related
    Deferred
    $0 + $34,500 related
    Nontaxable benefits
    $0 + $22,918 related
    Filer's total
    $0 + $469,700 related

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 — 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 DIRECTORS 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 DIRECTORS AND OFFICERS RECEIVED PAYMENTS FROM NON-QUALIFIED DEFERRED COMPENSATION PLANS IN THEIR CALENDAR YEAR 2024 COMPENSATION: TERRY L. HALES, JR. 90,046 J. MCLAIN WALLACE, JR. 682,207 SUSAN R. WENTE, PHD 262,656
FORM 990, PART VII, LINE 5 - COMPENSATION FROM UNRELATED ORGANIZATIONS
J. MCLAIN WALLACE, JR. WAS COMPENSATED BY WAKE FOREST UNIVERSITY BAPTIST MEDICAL CENTER, AN UNRELATED BUT AFFILIATED ORGANIZATION, FOR SERVICES PERFORMED AS AN OFFICER OF THE ORGANIZATION. SEE PART VII AND SCHEDULE J, PART II 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
2024
Filed
12 November 2025
IRS schema version
2024v5.2
Source object
202513219349301046

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