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← WAKE FOREST UNIVERSITY HEALTH SCIENCES GROUP RETURN

Form 990 for tax year 2022

Filed by WAKE FOREST UNIVERSITY HEALTH SCIENCES GROUP RETURN.

Totals

Total revenue
$106,760,501
Total expenses
$87,243,085
Contributions and grants received
$0
Grants paid
$1,513,330
Program service revenue
$106,760,501
Investment income
$0
Other revenue
$0
Total assets, end of year
$311,898,547
Total liabilities, end of year
$8,065,366
Net assets or fund balances, end of year
$303,833,181
Program services expenses (Part IX)
$77,664,466
Management and general expenses
$9,578,619
Fundraising expenses
$0
Program service expenses (Part III)
$77,664,466

Program services were 89.0% 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: PATIENT SERVICE REVENUE

    total $106,760,501 · related or exempt $106,760,501

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,513,330 · program services $1,513,330

  • 11a · Fees: management

    total $8,725,926 · management and general $8,725,926

  • 11b · Fees: legal

    total $41,050 · program services $41,050

  • 11c · Fees: accounting

    total $65,309 · program services $44,105 · management and general $21,204

  • 11g · Fees: other

    total $40,843,089 · program services $40,716,843 · management and general $126,246

  • 13 · Office expenses

    total $549,461 · program services $486,915 · management and general $62,546

  • 14 · Information technology

    total $624,761 · program services $553,642 · management and general $71,119

  • 16 · Occupancy

    total $4,065,617 · program services $3,602,813 · management and general $462,804

  • 17 · Travel

    total $219,703 · program services $194,693 · management and general $25,010

  • 19 · Conferences, conventions and meetings

    total $77,423 · program services $68,610 · management and general $8,813

  • 23 · Insurance

    total $592,521 · program services $547,024 · management and general $45,497

  • 24a · Other expenses: MEDICAL SUPPLIES

    total $23,030,385 · program services $23,030,385

  • 24b · Other expenses: BAD DEBT

    total $6,635,767 · program services $6,635,767

  • 24c · Other expenses: OTHER SUPPLIES

    total $258,743 · program services $229,289 · management and general $29,454

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $5,671,699 · end of year $4,647,781

  • 4 · Accounts receivable

    beginning of year $10,382,388 · end of year $10,626,691

  • 8 · Inventories for sale or use

    beginning of year $2,386,605 · end of year $2,428,546

  • 9 · Prepaid expenses and deferred charges

    beginning of year $118,579 · end of year $38,898

  • 15 · Other assets

    beginning of year $275,964,273 · end of year $294,156,631

  • 17 · Accounts payable and accrued expenses

    beginning of year $10,207,779 · end of year $8,065,366

  • 27 · Net assets without donor restrictions

    beginning of year $284,315,765 · end of year $303,833,181

Mission and programs · 2022

Mission

OUTPATIENT MEDICAL CLINICS FOR THE PROMOTION OF HEALTH FOR THE BENEFIT OF THE COMMUNITY AND AS A SUPPORTING ORGANIZATION EXCLUSIVELY FOR THE BENEFIT OF WAKE FOREST UNIVERSITY AND WAKE FOREST UNIVERSITY HEALTH SCIENCES.

Activities or mission (Part I)

OUTPATIENT MEDICAL CLINICS FOR THE PROMOTION OF HEALTH FOR THE BENEFIT OF THE COMMUNITY.

  • HEMODIALYSIS: THE CLINICS SERVE THE TEACHING AND RESEARCH PROGRAMS OF WAKE FOREST UNIVERSITY HEALTH SCIENCES AND WAKE FOREST UNIVERSITY BY PROVIDING DIALYSIS TREATMENTS TO END STAGE RENAL DISEASE PATIENTS (1,774 IN-CENTER AND 303 HOME DIALYSIS PATIENTS), OR BY TRAINING PATIENTS IN SELF-ADMINISTRATION OF AT-HOME DIALYSIS TREATMENTS.

    Expenses $77,664,466 · Grants $1,513,330 · Revenue $106,760,501

As filed on the 2022 return.

Listed in Part VII

  • Julie A Freischlag MD

    CHAIR & PRESIDENT

    Total calculated
    $5,824,024
    From this org
    $0
    From related orgs
    $5,155,928
    Other
    $668,096
    Hours/week
    0.5 + 39.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $2,280,990 related
    Bonus
    $0 + $2,286,000 related
    Other
    $0 + $588,938 related
    Deferred
    $0 + $641,866 related
    Nontaxable benefits
    $0 + $26,230 related
    Filer's total
    $0 + $5,824,024 related

  • Kevin P High MD

    DIRECTOR & VP

    Total calculated
    $1,870,719
    From this org
    $0
    From related orgs
    $1,579,819
    Other
    $290,900
    Hours/week
    0.5 + 39.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $969,210 related
    Bonus
    $0 + $446,637 related
    Other
    $0 + $163,972 related
    Deferred
    $0 + $260,084 related
    Nontaxable benefits
    $0 + $30,816 related
    Filer's total
    $0 + $1,870,719 related

  • Terry L Hales Jr

    DIRECTOR & ASST TREAS

    Total calculated
    $965,665
    From this org
    $0
    From related orgs
    $819,018
    Other
    $146,647
    Hours/week
    0.5 + 39.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $493,678 related
    Bonus
    $0 + $222,723 related
    Other
    $0 + $102,617 related
    Deferred
    $0 + $115,923 related
    Nontaxable benefits
    $0 + $30,724 related
    Filer's total
    $0 + $965,665 related

  • Terry G Williams

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1 + 39.9 related

  • Russell M Howerton MD

    DIRECTOR

    Total calculated
    $1,197,516
    From this org
    $0
    From related orgs
    $1,010,873
    Other
    $186,643
    Hours/week
    0.5 + 39.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $589,389 related
    Bonus
    $0 + $261,863 related
    Other
    $0 + $159,621 related
    Deferred
    $0 + $146,951 related
    Nontaxable benefits
    $0 + $39,692 related
    Filer's total
    $0 + $1,197,516 related

  • J Reid Morgan

    SECRETARY

    Total calculated
    $789,953
    From this org
    $0
    From related orgs
    $647,740
    Other
    $142,213
    Hours/week
    0.5 + 39.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $551,895 related
    Bonus
    $0 + $75,000 related
    Other
    $0 + $20,845 related
    Deferred
    $0 + $105,500 related
    Nontaxable benefits
    $0 + $36,713 related
    Filer's total
    $0 + $789,953 related

  • Bradley A Clark

    TREASURER (TO 1/13/22)

    Total calculated
    $1,470,567
    From this org
    $1,335,054
    From related orgs
    $0
    Other
    $135,513
    Hours/week
    0.1 + 39.9 related

    Schedule J breakdown matched by us

    Base
    $790,574
    Bonus
    $506,925
    Other
    $37,555
    Deferred
    $100,623
    Nontaxable benefits
    $34,890
    Filer's total
    $1,470,567

  • Stephan L Lillie

    TREASURER (FR 1/13/22)

    Total calculated
    $623,032
    From this org
    $526,927
    From related orgs
    $0
    Other
    $96,105
    Hours/week
    0.5 + 39.5 related

    Schedule J breakdown matched by us

    Base
    $413,720
    Bonus
    $112,451
    Other
    $756
    Deferred
    $85,069
    Nontaxable benefits
    $11,036
    Filer's total
    $623,032

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 DIRECTORS AND OFFICERS OF THE ORGANIZATIONS INCLUDED IN THIS GROUP RETURN 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 DURING THE CURRENT TAX YEAR: JULIE A. FREISCHLAG, M.D. $513,500 KEVIN P. HIGH, M.D. $137,928 RUSSELL M. HOWERTON, M.D. $129,200 TERRY L. HALES, JR. $81,185 BRADLEY A. CLARK $34,775 J. REID MORGAN $75,000
FORM 990, PART VII, LINE 5 - COMPENSATION FROM UNRELATED ORGANIZATIONS
STEPHAN LILLIE WAS COMPENSATED BY WAKE FOREST UNIVERSITY BAPTIST MEDICAL CENTER, AN AFFILIATED BUT UNRELATED ORGANIZATION, FOR SERVICES RENDERED TO THE ORGANIZATIONS INCLUDED IN THIS GROUP RETURN. SEE PART VII AND SCHEDULE J, PART II FOR HIS COMPENSATION. 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.

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.

Related partnerships

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

  • VERGER FUND II LLC

    INVESTMENT · NC

  • WAKE FOREST TECHNOLOGY DEVELOPMENT PROGRAM LP

    INVESTMENT · NC

  • WAKE FOREST AMBULATORY VENTURES LLC

    HEALTHCARE · NC

Related corporations and trusts

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

  • NORTH DISTRICT OWNERS ASSOCIATION

    C · PROPERTY OWNERS ASSOCIATION · NC

Provenance

Return type
form_990
Tax year
2022
Filed
14 November 2023
IRS schema version
2022v5.0
Source object
202323189349306362

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