Wake Forest University
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Provides higher education in the liberal arts, graduate, and professional fields while fostering student-led community service and extracurricular development. For fiscal year 2024 it reported $843.2M in revenue, $786.3M in expenses, and $2.1B in net assets.Pt I
Summary of the Filing
Where the work happens
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.
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.
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.
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Identity & Classification
Governance & Policies
Officers, Directors & Key Employees
David P Clawson’s $4.9M as Football Coach is at the 96th percentile of top reported officer pay among 674 $100M+ education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.
Compensation history total reportable pay by year · 8 named individuals · Part VII
| Name | FY2024 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Daniel R Manning | — | — | — | $14,658,459 | $769,379 | $2,539,220 |
| David P Clawson | $4,869,999 | $4,774,547 | $4,709,021 | $4,220,955 | $3,356,169 | $3,553,085 |
| Steve Forbes | $2,515,493 | $2,281,576 | $3,068,179 | $1,601,737 | $1,080,624 | — |
| B Hofler Milam | $439,002 | $1,041,654 | $734,339 | $2,133,852 | $617,669 | $699,913 |
| Nathan O Hatch | — | — | $965,961 | $1,893,057 | — | — |
| Nathan O Hatch PHD | — | — | — | — | $1,524,226 | $1,665,827 |
| Susan R Wente PHD | $1,519,832 | $1,473,696 | $1,398,169 | $692,191 | — | — |
| John a Currie | $1,254,401 | $1,146,384 | $954,788 | $1,094,303 | $715,044 | $651,920 |
Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.
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Statement of Revenue
Statement of Functional Expenses
Balance Sheet
Financial Metrics
Same NTEE category, revenue band, and state where available. Descriptive — not a grade.
| Metric | This org | Peer median | Percentile |
|---|---|---|---|
| Program ratio | 85% | — | — |
| Overhead ratio | 11% | — | — |
| Fundraising cost ratio | 17% | — | — |
| Revenue growth | 10% | — | — |
Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.
Grants
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Filings & Schedule Manifest
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Sources
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