WAKE FOREST UNIVERSITY

As filed

Subsection

03

NTEE code

B430

Classification

2000

Street

1834 WAKE FOREST ROAD

These codes are the IRS's own and are shown exactly as filed. What each one means is in the Business Master File documentation (opens in a new tab).

Other organizations at this address

1 other organization in the IRS Business Master File lists the same street address. matched by us

We match the street line and ZIP code as the IRS gives them, ignoring case and outer spaces and nothing else, so "AVE" and "AVENUE" count as different streets and this list can miss some. A shared address can mean related organizations or a shared office, but it can also be a registered agent, a mail drop or a service provider holding mail for unrelated clients. It is not, by itself, evidence that two organizations are connected.

• LEADERS OF EXPERIENTIAL PROJECT-BASED EDUCATION

  EIN 99-0391267

Mission and programs · 2024

• Founded in 1834, Wake Forest University is a private, coeducational collegiate university based in Winston-Salem, North Carolina. One of the leading institutions of its kind, Wake Forest blends the intimacy of a liberal arts college with the academic vitality of a research university. At the heart of Wake Forest is the teacher-scholar ideal. Professors are committed to personalized teaching and to their students' individual development. Guided by the motto Pro Humanitate (For Humanity), Wake Forest is dedicated to an ethically informed education in a climate that values personal growth, community interaction, and individual honor. It is committed to being a community of students, faculty, staff and alumni from varied backgrounds, lived experiences and perspectives. It seeks to sustain an equitable, inclusive environment in which all can live, learn, belong and thrive. The University consists of Wake Forest College, the undergraduate arts and sciences division that honors the full institution's former name; the Graduate School of Arts and Sciences; the School of Law; the School of Medicine; the School of Business, which provides undergraduate and graduate study; the School of Divinity; and the School of Professional Studies.In Fall 2024, Wake Forest's enrollment was comprised of 5,490 undergraduates and 2,563 graduate students for a total of 8,053. Undergraduates in Fall 2024 came from all 50 U.S. states; Washington, D.C.; other U.S. territories and possessions; and approximately 40 international countries. Women represented 54% of the undergraduate population and international students accounted for 8% of the total. Wake Forest offered 49 majors and 62 minors in Wake Forest College and in the School of Business in 2024-25. In the Fall 2024 semester, 99% of all undergraduate classes had fewer than 50 students. That is among the highest rates of any major university in the country. The average student-faculty ratio in Fall 2024 was 10 to 1. The class size is consistent with Wake Forest's educational model, which seeks to make students active participants in their learning. Its core tenets include the merger of classroom learning and real-world experience; the melding of multiple academic disciplines; and variety of instructional methods beyond the traditional lecture format. Wake Forest's footprint extends worldwide. More than 85% of graduates have participated in study-away programs in recent years. The Institute for International Education's Open Doors Report, which began with the 2002-03 academic year, has ranked Wake Forest among the nation's top 10 doctoral institutions in participation rate in every year the University has operated study-abroad programs. Wake Forest is one of a select group of universities to own and operate academic-residential houses overseas. They are Casa Artom, located on the Grand Canal in Venice; Flow House in Vienna; and Worrell House in London. Since the early 1970s, more than 3,600 graduates have lived and studied at one or more of the houses. Wake Forest operates nearly 50 of its own international study programs and offers students access to approximately 400 more through various affiliation agreements. In 2024-25, a record total of 1,171 undergraduates studied in 61 cities in 35 countries, traveling an estimated 10.8 million miles round-trip from Winston-Salem. Also, under the umbrella of Study Away opportunities is Wake Washington, a University-run program in which students combine classroom instruction with internships. They work four days a week for a variety of government and non-government organizations and agencies and take classes in space rented by the University and located in the heart of the city's Dupont Circle. Graduate Studies: More than 90 graduate degree programs are offered in the Graduate School of Arts and Sciences and the Schools of Business, Divinity, Law, Medicine and Professional Studies. General subject areas include Biomedical Science; Business; Computer and Information Systems; Counseling; Education; Humanities; Interdisciplinary Studies; Law; Liberal Arts Studies; Life and Physical Sciences; Mathematics and Statistics; Medicine; Social and Behavioral Sciences; Theology; and Visual and Performing Arts. Business: The School of Business offers a total of seven highly rated graduate programs in Accountancy, Business Administration, Management and Analytics. In the past 20 years in which national records were kept, Wake Forest led the nation in CPA exam passage rate and placed in the top five in 19 of those 20 years. The School of Business also co-sponsors dual degrees in Law and Medicine. The part-time Master of Business Administration program offers working professionals the opportunity to keep their jobs while enhancing their careers. Serving separate cohorts of students in Winston-Salem and Charlotte, the MBA program is consistently ranked among the nation's best part-time offerings in the field. Divinity: The Wake Forest School of Divinity is nationally recognized for its commitment to public service. The School aspires for its graduates to be agents of justice, reconciliation and compassion and architects of equity, hope and healing. In addition to its own Master of Divinity degree, the School contributes to dual degrees in Bioethics, Counseling, Education, Law and Sustainability.Law: The School of Law is among national leaders in value, employment rate, bar-passage rate and several practice areas. According to the American Bar Association, 97.4% of graduates in Wake Forest's Class of 2024 held full-time positions for which bar passage was required or for which a JD degree was advantageous. That rate is the third-highest in the country for that year. Wake Forest offers four law degrees (JD, MSL, LLM and SJD) and combines with other schools on dual degrees in Business Administration, Divinity, Bioethics and Sustainability. Arts and Sciences: The Graduate School of Arts and Sciences houses 23 Masters and Doctoral disciplinary or interdisciplinary programs and sponsors 15 programs jointly with the Schools of Law, Medicine, Business, Divinity and the Undergraduate College. The School of Professional Studies houses 12 Masters degree programs, all of which are offered online; six certificate, certification or other online training programs; and more than 15 non-credit classes, which take place in-person in Charlotte and Winston-Salem or online. The main campus, known as the Reynolda Campus, consists of more than 80 buildings on 340 acres in Winston-Salem, North Carolina. It opened in 1956 as the institution moved from its original location in Wake Forest, North Carolina, located 100 miles east. In addition, the University owns or leases space in several other locations. They include Wake Downtown, a repurposed tobacco warehouse that now houses robust academic programs in biomedical sciences and engineering approximately four miles from the Reynolda Campus; the Brookstown Campus, a Wake Downtown neighbor serving several Graduate School programs; the Bowman Gray Center for Medical Education, home to the School of Medicine and select Graduate School programs; the Charlotte Center, home to select graduate degree programs and the administration of the School of Professional Studies; a second Medical School campus in a new innovation district in Charlotte known as The Pearl; and residential-academic houses for study-away opportunities in London, Venice and Vienna. Wake Forest considers access and opportunity vital to the mission articulated by its motto, Pro Humanitate. In FY25 alone, the University created 175 new scholarships in the name of expanding its reach. Approximately 48% of the undergraduate student population and the vast majority of graduate students received financial aid awards in the form of grants or loans in 2024-25.Personal and Career Development: The Office of Personal and Career Development (OPCD) has shared its best practices and philosophies with more than 200 other institutions since 2009 and has been honored accordingly. Approximately 97% of Class of 2024 graduates had secured employment or a graduate school opportunity within six months of receiving Wake Forest degrees.

  Expenses $436,455,868 · Grants $126,343,485 · Revenue $459,569,927

• Residence Halls & Dining:In the interest of building community, Wake Forest requires all undergraduates to live on campus for at least three years. Only 10 of the 189 research institutions with data in a November 2024 survey by collegetransitions.com required three or four years of on-campus residency. The University has done its part in this endeavor by acquiring, building or substantially renovating all residence halls in the past decade. The Division of Residence Life and Housing (RLH) maintains 27 facilities. They are equipped with high-speed internet service and include common areas suited to group study. The Division of Dining Services includes 17 locations. The main dining hall, affectionately known as The Pit, serves cafeteria-style food with several distinct areas, including vegan, gluten-free and other diet-specific options. Athletics:Wake Forest fields 18 intercollegiate athletics teams nine for men and nine for women in the NCAA's Division I and the Atlantic Coast Conference, of which it is a charter member. The University's undergraduate enrollment is the smallest of any school in the four most financially and athletically potent Division I conferences, but that size is a strength rather than a weakness. The distinction helps the University attract student-athletes who excel in competition and academics. Across all sports, Wake Forest posted a 96% NCAA-measured graduation report in a report released in November 2024. The institutional-level report measured graduation rates of 14 Wake Forest sport cohorts, considering teams in indoor track, outdoor track and cross country as one entity per gender. Of those 14 groups, seven posted perfect scores of 100%. Demon Deacon teams have won 11 NCAA team championships: three each in men's golf and field hockey; two in men's tennis, the most recent of which was earned in May 2025; and one each in baseball, women's golf and men's soccer. Wake Forest is one of only 30 Division I schools with titles in six unique sports. The median undergraduate enrollment of this group in Fall 2023 was 32,574 almost six times the Wake Forest figure.

  Expenses $108,638,963 · Grants $18,034,646 · Revenue $111,739,621

• Campus Life:Wake Forest is committed to putting the spirit of its motto, Pro Humanitate, in action. Student Organizations: Approximately 200 student organizations are active at Wake Forest, providing extracurricular learning and service opportunities for their members and ancillary benefit to the campus and local communities. They are centered around academic and professional development; business development; recreational-sports participation; fraternity and sorority life; cultural interests; media; fine-arts performance and exhibition; student governance; and other focal points. Community Outreach: In addition to student-run organizations, the Office of Civic and Community Engagement (OCCE) partners with approximately 120 projects and institutions across policy areas including aging; poverty; health; food access; various children's matters; education; and environmental sustainability. In the 2024-25 academic year, Wake Forest was one of only two North Carolina colleges to receive funds for an important initiative, Public Health AmeriCorps. Over the year, 14 students partnered with seven unique community organizations to help meet various public-health needs. In 2024-25, approximately 47% of undergraduates participated in at least one of the three major campus fundraising events supporting cancer research. In 2024-25, the OCCE celebrated the fifth anniversary of its Virtual Tutoring initiative. Born amid the restrictions related to COVID-19, the program has helped more than 700 students in nearly all Winston-Salem/Forsyth County Schools. In 2024-25 alone, unique tutees benefited from the guidance and mentorship of 164 Wake Forest students. Nearly one of every 14 Wake Forest graduates in the Class of 2025 participated in at least one academic year of tutoring while undergraduates.Wellbeing: The University believes its obligation to students transcends classroom learning and extends to general health and wellbeing. In 2017, the University opened the renovated Reynolds Gym and the new Sutton Center, collectively known as the Wake Forest Wellbeing Center. The project immediately increased space dedicated to personal and group fitness; doubled the size of the Student Health center; and led to an increase in gym usage. A member of the Wake Forest community enters the facility every 68 seconds.In early 2023, Wake Forest announced the creation of We, a campus-wide initiative in support of mental health. The program works with the campus community to elevate consciousness of care; promote healthy practices and preventative care awareness; equip community members with knowledge and skills that can support their peers in need; and connect the community to the resources and information necessary to foster a culture of self-care. The endeavor created a dedicated phone number through which callers can refer themselves or others in need of assistance.A robust campus recreation department oversees 40 club sports and 37 intramural leagues and competitions. Nearly every late afternoon and early evening features contests in several distinct sports. In 2024-25, approximately one of every four undergraduates took a fitness class.

  Expenses $73,897,470 · Revenue $3,155,864

• Research: Wake Forest is classified as a Research 2: High-Research Spending and Doctorate Production, the second-highest level, by the Carnegie Foundation for the Advancement of Teaching. Wake Forest University has grants and internally funded research pursuant to basic science and technology. Wake Forest University manages research projects in Biology, Chemistry, Physics, Mathematics, Computer Science, Health & Exercise Science, Divinity and Business. The Z. Smith Reynolds Library and the professional school libraries together house nearly 1 million physical books and nearly 1 million eBooks, as well as access to a multitude of other web-based resources. The campus libraries provide resources for both student and faculty researchers. Every fall, the Undergraduate Research and Creative Activities Center sponsors Undergraduate Research Day, in which students display and explain the results of their faculty-mentored research, which often takes place the previous summer. In 2024, nearly 140 students presented their work, achieved under the guidance of faculty in 25 unique academic disciplines. In the Class of 2025, approximately one of every 12 graduates had participated in at least one Undergraduate Research Day. Wake Forest is also a national leader in the study of leadership and character. The Program for Leadership and Character, an initiative that seeks to inspire, educate and empower leaders of character to serve humanity, has two missions. The first is to impact its own campus by creating programming and developing leaders in and out of the classroom. The second mission, known as the Educating Character Initiative (ECI), equips other institutions with the resources, funding and support necessary to integrate character education into their distinctive educational contexts, curricula and cultures. Wake Forest has redirected more than $35 million in grants from the Lilly Endowment Inc., of Indianapolis, Indiana, and other organizations to more than 140 other colleges and universities through this program. In FY25, Wake Forest announced 40 grants of up to $50,000 each to 42 institutions. By 2030, the ECI aspires to impact 600,000 college students nationwide.Research at Wake Forest is enhanced by the work of 11 discipline-specific institutes and centers. In 2024-25, these organizations included:The Humanities Institute, which establishes programs and funds for University faculty in the humanities and other fields of study engaging in humanistic inquiry and scholarship;The Center for Bioethics, Health and Society, which addresses ethical, social and policy issues vital to biotechnology, healthcare, biomedical research and public health;The Andrew Sabin Family Center for Environment and Sustainability, which is dedicated to influencing the future of environmental protection, sustainability and climate change from the jungles of Peru to Wake Forest;The Center for Functional Materials, which is charged with connecting a broad range of materials-focused research groups and with supporting multidisciplinary research necessary for breakthrough developments; Interdisciplinary Arts Center, which draws artists, scholars, students, faculty and staff from across the academic divisions and disciplines in order to invigorate the intellectual and cultural life of the University;The Center for Molecular Signaling, which brings together investigators in the life, physical, computational and mathematical sciences to tackle basic questions about molecular communication among and within the cells of living organisms ranging from insects to plants to humans;The Center for Nanotechnology and Molecular Materials, which seeks to provide access to a broad range of nationally competitive capabilities in nanosciences;The Center for Research on Abroad and International Student Engagement (RAISE Center), which is dedicated to helping faculty, staff and students collaborate with scholars around the world to understand and enhance the experiences, engagement and development of abroad and international students; The Translational Science Center (TSC), which focuses on promoting and maintaining functional health in aging through research of cognitive function and physical activity;The Center for Literary Education, which promotes creative intellectual partnerships that facilitate interdisciplinary scholarship and teaching and bring literacy to life through community engagement; andThe Center for Research, Engagement and Collaboration in African American Life (RECAAL), which serves as an incubator of ideas promoting awareness about the complex experiences of Black people in the United States.Conference Services: Wake Forest offers other organizations the space and logistical assistance to run conventions and other events. The locations include academic classrooms and auditoriums on the main campus as well as three separate, affiliated venues: Graylyn Estate and Conference Center; Reynolda Gardens; and Reynolda House Museum of American Art. WFDD: The University owns the broadcast license for WFDD, an FM affiliate of National Public Radio. The station broadcast news, information, and public affairs programming covering the arts, people, and institutions in the area. It is the longest continuously broadcasting public radio station in North Carolina.In FY25, the University completed the implementation of its student information system, Workday Student. In August of 2024, the final phases of the student experience cycle application for graduation; transcripts; grading; and degree verification were brought online.

  Expenses $51,752,789 · Grants $17,223,449 · Revenue $11,195,242

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Officers and directors · 2024

As listed in Part VII of the 2024 return, in the order the filer printed them. Each return names its own; this is not a roster the organization keeps with us.

The first 25 listed. 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. Earlier years are each on their own filing page.

Filings

• 2024

  Revenue

  $843,176,173

  Expenses

  $786,273,688

  Contributions

  $158,466,076

  Grants paid

  $161,601,582

• 2023

  Revenue

  $764,367,570

  Expenses

  $705,687,576

  Contributions

  $112,785,723

  Grants paid

  $148,801,543

• 2022

  Revenue

  $686,860,190

  Expenses

  $654,792,741

  Contributions

  $74,090,708

  Grants paid

  $134,557,551

The four totals the IRS asks for on Part I of the Form 990, as filed. A dash means the figure was not present on the return — not that it was zero.

Other returns filed

• 2023 · 990-T

  Revenue

  — not reported

  Expenses

  — not reported

  Assets (EOY)

  — not reported

• 2022 · 990-T

  Revenue

  — not reported

  Expenses

  — not reported

  Assets (EOY)

  — not reported

• 2021 · 990

  Revenue

  $715,438,504

  Expenses

  $627,965,784

  Assets (EOY)

  $2,572,484,456

• 2021 · 990-T

  Revenue

  — not reported

  Expenses

  — not reported

  Assets (EOY)

  — not reported

• 2020 · 990

  Revenue

  $681,736,258

  Expenses

  $585,188,441

  Assets (EOY)

  $2,570,183,256

• 2020 · 990-T

  Revenue

  — not reported

  Expenses

  — not reported

  Assets (EOY)

  — not reported

• 2019 · 990

  Revenue

  $583,443,727

  Expenses

  $577,597,318

  Assets (EOY)

  $2,139,822,388

• 2018 · 990

  Revenue

  $636,454,264

  Expenses

  $553,710,404

  Assets (EOY)

  $2,089,648,634

• 2017 · 990

  Revenue

  $583,361,532

  Expenses

  $514,451,794

  Assets (EOY)

  $1,919,040,249

• 2016 · 990

  Revenue

  $650,698,331

  Expenses

  $497,688,005

  Assets (EOY)

  $1,824,862,917

Nonprofiteer parses Forms 990, 990-EZ and 990-PF, in a window of recent tax years. These returns are recorded from the IRS e-file index, so their figures were extracted by that index rather than read from the return here — treat them as a different source from the filings above, not as more of the same record. A dash means the index carries no figure; Form 990-T listings carry none at all. Showing the 10 most recent; the API carries the rest.

Grants made

• Wake Forest Univ Health Sciences

  $1,484,596

  2023 · Research Subcontract

• Reynolda House Inc

  $1,346,455

  2024 · Operations Support

• Wake Forest Univ Health Sciences

  $1,308,253

  2024 · Research Subcontract

• Wake Forest Univ Health Sciences

  $1,253,361

  2022 · Research Subcontract

• UNC Chapel Hill

  $940,591

  2024 · Research Subcontract

• The Regents of the University of Colorado

  $734,427

  2024 · Research Subcontract

• Reynolda House Inc

  $663,356

  2022 · Operations Support

• Brigham & Women's Hospital

  $603,639

  2024 · Research Subcontract

• Reynolda House Inc

  $582,000

  2023 · Operations Support

• Montclair State University

  $507,500

  2024 · Research Subcontract

The 10 largest by cash amount. The API serves every itemized grant.

Where these grants went next →

Grants received

• ATLANTIC COAST CONFERENCE

  $44,516,141

  2022 · ALLOCATION OF GENERAL SUPPORT

• ATLANTIC COAST CONFERENCE

  $43,072,249

  2023 · ALLOCATION OF GENERAL SUPPORT

• FIDELITY INVESTMENTS CHARITABLE GIFT FUND

  $31,082,214

  2024 · For grant recipient's exempt purposes

• FIDELITY INVESTMENTS CHARITABLE GIFT FUND

  $6,852,663

  2022 · For grant recipient's exempt purposes

• FIDELITY INVESTMENTS CHARITABLE GIFT FUND

  $5,981,171

  2023 · For grant recipient's exempt purposes

• DONOR ADVISED CHARITABLE GIVING

  $4,923,663

  2023 · EDUCATION

• DONOR ADVISED CHARITABLE GIVING

  $2,516,475

  2022 · EDUCATION

• DONOR ADVISED CHARITABLE GIVING

  $2,253,066

  2024 · EDUCATION

• WAKE FOREST UNIVERSITY HEALTH SCIENCES

  $2,000,000

  2023 · ACADEMIC ENRICHMENT FUND

• WAKE FOREST UNIVERSITY HEALTH SCIENCES

  $2,000,000

  2022 · ACADEMIC ENRICHMENT FUND

The 10 largest by cash amount. The API serves every itemized grant.

Related organizations

From Schedule R Part II, where a filer lists the tax-exempt organizations it is related to by control. It does not record shared board members or money.

Taxable family

From Schedule R Parts I, III and IV: entities that legally are the filer, and taxable partnerships, corporations and trusts it is related to. These record ownership and control, not shared board members or money.

Other IRS files