Wake Forest University Development Foundation EIN 56-2038194 Form 990 (PDF) Claim this org

Wake Forest University Development Foundation

Not yet claimed Claim this org →

Manages and sells donated property to support Wake Forest University and its affiliates. For fiscal year 2024 it reported $319K in revenue, $9K in expenses, and $283K in net assets.Pt I

Founded
1996
Type
Supporting organization · Education
Location
Winstonsalem, NC
Filings
5 on file (2020–2024)
Revenue
$319KFY2024
Expenses
$9K
Net assets
$283K
People
13
Filings
5
Updates
0
More identity details & actions ⌄
EIN  56-2038194 Supporting organization Winstonsalem, NC Founded 1996
Form 990 (PDF)
Compare with another nonprofit →
Is this your organization?
Claim this profile to manage it and share your story.
Claim
Provided by the organization

This section is blank until Wake Forest University Development Foundation claims this page.

Know this organization? Claim it to add your story

Size
$100K–1M
What they do
Manages and sells donated property to support Wake Forest University and its affiliates.
Leadership
MIT B Shah · Chair
Money in and out
$319K revenue, $9K expenses
Bottom line
+97% net inflow
Money in and out · FY2024
Total revenue
$319K
Pt VIII · Ln 12
Total expenses
$9K
Pt IX · Ln 25
Net assets
$283K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $310K
Where spending went · Part IX cols B–D
Program services $1.00
Net inflow
+97%
revenue over expenses, this year
Pass-through gifts
100%
of revenue from contributions
Program spending
100%
of expenses reach stated programs0% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$319K
FY2024▲ ×25
Expenses
$9K
FY2024▼ -92%
Total assets
$387K
FY2024▲ +401%
Total liabilities
$104K
FY2024+0.2%
Total revenue
$319K
Pt VIII · Ln 12
Total expenses
$9K
Pt IX · Ln 25
Net assets
$283K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$310K
Total assetsPt X · Ln 16$387K
Program-expense ratioPt IX · col B100%
Voting members of governing bodyPt I · Ln 310
Independent voting membersPt I · Ln 410
Mission & Programs · Part III

Where the work happens

1 program service account for $9K of program spending, described in the organization's own filed words · FY2024.
01

The organization serves as a conduit for holding and disposing of donated real and personal property and supports Wake Forest University and its affiliates with proceeds from sales or dispositions of such properties as designated to the various programs and entities.

$9Kprogram expense

Run this program? Claim this org to tell your story

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CWake Forest University Development Foundation
EINHdr · item D56-2038194
Principal addressHdr · item CWinstonsalem, NC
WebsiteHdr · item Jnone reported
Year of formationHdr · item L1996
State of legal domicileHdr · item MNC
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFEducation (B00I)
Ruling yearIRS BMFJul 1998

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a10
Independent voting membersPt VI · Ln 1b10
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Wake Forest University Development Foundation executive salaries →

Are you one of these people? Claim this org to confirm your role

Statement of Revenue

Part VIII
Contributions & grants100%$319K
Total revenueLn 12$319K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $1.00
Program services100%$9K
Total functional expensesLn 25$9K

Balance Sheet

Part X · end of year
CashLn 1$68K
Total assetsLn 16$387K
Total liabilitiesLn 26$104K
Total net assetsLn 32$283K
Months of cash on handcomputed86.4

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $68K · Operating expenses (Pt IX) $9K · Less non-cash grants $319K · Cash operating expenses/yr $-310K
Highly liquid reserves (cash & marketable securities on Pt X) ÷ monthly operating expenses (Pt IX total, less non-cash grants & depreciation when reported).
Where the money goes
Program services
Program services $9K · Total expenses $9K
100%
Management & General
Management & general $0 · Total expenses $9K
0%
Fundraising
Fundraising $0 · Total expenses $9K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $106K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $319K · Total revenue $319K
100%
Government reliance
Government grants — · Total revenue $319K
Earned-income share
Program service revenue $0 · Total revenue $319K
0%
Investment reliance
Investment income $0 · Total revenue $319K
0%
Program self-sufficiency
Program service revenue $0 · Total expenses $9K
0%
Growth & trend
Revenue growth (YoY)
This year $319K · Prior year $-14K
Prior-year revenue below floor — showing dollar change
Net-asset trend (YoY)
End of year $283K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $319K · Expenses $9K
+97%
Liabilities-to-Assets
Total liabilities — · Total assets $387K
Net-asset ratio
Net assets $283K · Total assets $387K
73%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $387K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual MIT B Shah · Reported title Chair · Highest reported compensation $0 · Total expenses $9K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $9K
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 100%
Revenue growth ×25

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

Schedule I · received and paid
Grants received · FY2024
Total grants receivedfrom 1 funder$30K
Grants paid · 4 grants · $361K · 2019–2023
Wake Forest UniversityNC · FY2023$124,523
Wake Forest UniversityNC · FY2020$59,042
Wake Forest UniversityNC · FY2019$6,081

Compare

Search another nonprofit to view revenue, expenses, assets, key metrics, and leaders side by side

Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024$-14K revenue · ⤓ 990 PDF
FY2023$0 revenue · ⤓ 990 PDF
FY2022$-338K revenue · ⤓ 990 PDF
FY2021$-10K revenue · ⤓ 990 PDF
FY2020$-73K revenue · ⤓ 990 PDF

Want to add your own materials alongside these filings? Claim this org

Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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.

If you ARE the filing organization, claim this org and add context

Made it to the end? Claim this organization

All figures are derived from public IRS Form 990 filings and are presented without evaluation of any organization. philanthropy.org does not rate, score, or rank organizations, including the peer-cohort and compensation comparisons above.