Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in May 2001.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
86 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
Something off? Claim to add context
Who runs it and what they're paid
64 people listed on the 990; $13.8M paid to officers and key staff.
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 | FY2025 | 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.
See Wake Forest University executive salaries →On this list? Claim this org
Something off? Claim to add context
Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2Yes
- Top official's pay set by an independent reviewPt VI · Ln 15aYes
Programs and updates
Provides higher education in the liberal arts, graduate, and professional fields while fostering student-led community service and extracurricular development.
Questions for Wake Forest University
Your first name shows with your question. Wake Forest University answers here, for everyone.
Know this org? Add your story
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. The University has done its part in this endeavor by acquiring, building or substantially renovating all residence halls in the past decade.
Campus Life
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.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2021 990, line by line.
Download 990
| Line | Start FY21 | End FY21 |
|---|---|---|
| Cash and savingsLn 1–2 | $53.6M | $34.6M |
| InvestmentsLn 11–13 | $1.17B | $1.65B |
| Land, buildings, equipmentLn 10c | $701.0M | $678.0M |
| Total assetsLn 16 | $2.14B | $2.57B |
| LiabilitiesLn 26 | $697.7M | $810.1M |
| Net assetsLn 32 | $1.44B | $1.76B |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $3.8M | $3.8M | ||
| Grants to domestic individualsLn 2 | $127.1M | $127.1M | ||
| Grants and assistance to foreign recipientsLn 3 | $877K | $877K | ||
| Pay of current officers, directors and key staffLn 5 | $9.6M | $3.8M | $4.8M | $962K |
| Other salaries and wagesLn 7 | $217.3M | $177.4M | $28.8M | $11.1M |
| Pension plan contributionsLn 8 | $18.0M | $14.6M | $2.5M | $959K |
| Other employee benefitsLn 9 | $29.7M | $21.5M | $4.7M | $3.5M |
| Payroll taxesLn 10 | $14.3M | $11.6M | $2.0M | $755K |
| Legal feesLn 11b | $1.9M | $900K | $1.0M | |
| Accounting feesLn 11c | $290K | $13K | $277K | |
| Investment management feesLn 11f | $7.1M | $4.6M | $2.5M | |
| Other fees for servicesLn 11g | $15.4M | $12.7M | $1.3M | $1.4M |
| Advertising and promotionLn 12 | $2.3M | $1.9M | $129K | $192K |
| Office expensesLn 13 | $8.1M | $6.9M | $550K | $690K |
| Information technologyLn 14 | $3.0M | $2.5M | $430K | $67K |
| RoyaltiesLn 15 | $88K | $88K | ||
| OccupancyLn 16 | $7.7M | $6.3M | $1.5M | |
| TravelLn 17 | $3.4M | $3.2M | $212K | |
| Conferences, conventions and meetingsLn 19 | $4.4M | $3.8M | $635K | $29K |
| InterestLn 20 | $15.8M | $15.1M | $685K | |
| Depreciation, depletion and amortizationLn 22 | $49.9M | $44.5M | $5.4M | |
| InsuranceLn 23 | $2.2M | $777K | $1.4M | |
| Other expenses (24a–d)Ln 24 | $34.9M | $31.5M | $2.9M | $475K |
| All other expensesLn 24e | $7.9M | $5.1M | $2.1M | $695K |
| Total functional expensesLn 25 | $585.2M | $500.5M | $63.9M | $20.7M |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest | $843.2M | $786.3M | $56.9M | $2.1B | 990 PDF |
| FY2024 | $764.4M | $705.7M | $58.7M | $2.0B | 990 PDF |
| FY2023 | $686.9M | $654.8M | $32.1M | $1.9B | 990 PDF |
| FY2022 | $715.4M | $628.0M | $87.5M | $1.8B | 990 PDF |
| FY2021 Viewing | $681.7M | $585.2M | $96.5M | $1.8B | 990 PDF |
| FY2020 | $583.4M | $577.6M | $5.8M | $1.4B | 990 PDF |
More to add? Claim this org
Schedules filed Part IV
See the full FY2021 990 (6 parts)
Part I · Summary $681,736,258 revenue, 12 lines filed
Part VI · Governance 45 of 48 board members independent, 1 to look at
Part VIII · Statement of revenue $681,736,258 across 14 lines filed
Part IX · Statement of functional expenses $585,188,441 across 24 lines filed
Part X · Balance sheet $2,570,183,256 assets, 21 lines filed
Part XI · Reconciliation of net assets $1,760,045,157 net assets at year end
Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File
Similar organizations you could support · Compare with another nonprofit
Names, privacy, and removal requests More
The names, titles, and compensation shown on this page are reproduced from IRS Form 990 filings, which are public records.
Philanthropy.org does not alter the content of those filings. All information appears exactly as reported by the filing organization for the tax year shown.
We publish only information contained in the public IRS filing — and less than the filing contains. Our profile pages do not display street addresses, telephone numbers, personal email addresses, or other personal contact information, even where the filing includes them.
Many people share the same name. A name shown on this page reflects only what one organization reported in one IRS filing for one tax year. It should not be interpreted as identifying any other individual with the same or a similar name.
If you are no longer affiliated with the organization, your name will generally stop appearing in future IRS filings once the organization no longer reports you. Pages for tax years in which you were reported remain published because those filings remain part of the public record.
Philanthropy.org does not alter or remove IRS filing records. Removing a page from this website would not remove the underlying IRS filing, which remains publicly available from the IRS and other publishers of the same information.
If you believe the IRS filing itself is inaccurate, corrections must be made by the filing organization or the IRS directly.
Your org? Add context
Made it to the end? Claim this org