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Wake Forest University Development Foundation

Tax-deductible

Winston Salem, NC501(c)(3)Since 1996Education EIN 56-2038194Revenue $319K in FY2025

On file with the IRS1834 Wake Forest Rd Unit 7201, 27109-6049 · Winston Salem, NCTax-exempt since Jul 1998Supporting organization — 509(a)(3)

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The organization operates as a supporting organization exclusively for the benefit of Wake Forest University ("WFU"), Wake Forest University Health Sciences ("WFUHS"), and Reynolda House, Inc. ("RH"), each of which supported organizations are 501 (c)(3) organizations. The organization's purposes include: (1) serving as the recipient of properties contributed to the supported organizations to be held temporarily; (2) managing short-term contributed properties; (3) determining whether and when prospective contributions of real or personal property should be accepted, retained, liquidated or transferred; (4) obtaining, acquiring, receiving, constructing, erecting or improving properties to which the organization holds title; holding, retaining, leasing, managing, selling, disposing of, or assigning the income from and/or rights in or to real and personal property; and (5) establishing subsidiary organizations or entities.

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
Run by 10 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2025 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 6
filings with a surplus
Average deficit $86K a year · last 6 filings
Concern: a surplus in 1 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
86 mo
of spending, in cash
Plus $319K in investments, Pt X · Ln 11–13
Looks good: 86.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $30K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$104K
27% of total assets
Looks good: liabilities are 27% of assets; 50% or less.
Pt X · Ln 26
Independent board members
10
of 10 voting members
Looks good: 10 of 10 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$319K
×25 vs prior year
Spent
$9K
To programs
100%
Net assets
$283K
By yearFY2020–FY2025
Revenue
$319K
FY2025▲ ×25
Tap a bar for its year
Revenue by fiscal year
FY2020−$73K
FY2021−$10K
FY2022−$338K
FY2023$0
FY2024−$14K
FY2025$319K
Expenses
$9K
FY2025▼ -92%
Tap a bar for its year
Expenses by fiscal year
FY2020$18K
FY2021$63K
FY2022$178K
FY2023$8K
FY2024$125K
FY2025$9K
Net assets
$283K
FY2025▲ ×12
Tap a bar for its year
Net assets by fiscal year
FY2020$181K
FY2021$115K
FY2022$120K
FY2023$111K
FY2024−$27K
FY2025$283K

From the FY2025 Form 990 (year ending June 2025) · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jul 1998.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $9K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

13 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
$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 →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Manages and sells donated property to support Wake Forest University and its affiliates.

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Provided by the organization

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1 program · $9K · in their 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

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
Fairfield Countys Community Foundation INCFY2024$30K
Total grants receivedfrom 1 funder$30K
Grants paid · 4 grants · $361K · 2019–2023
Wake Forest UniversityNC · FY2023$124,523
Wake Forest University Health SciencesNC · FY2021$171,100
Wake Forest UniversityNC · FY2020$59,042
Wake Forest UniversityNC · FY2019$6,081

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$319K
Ln 12
Gifts and grantsLn 1h$319K
Money outPt IX
$9K
Ln 25
Programscol B$9K
Owns and owesPt X
$283K
net assets · Ln 32
Cash and savingsLn 1–2$68K
Total assetsLn 16$387K
LiabilitiesLn 26$104K
PeoplePt VI, VII
13
listed · VII A
PaidVII A0
Voting boardVI 1a10
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$319K
Noncash giftsLn 1g$319K
Total revenueLn 12$319K
Assets in detailPt X, end of year
CashLn 1$68K
Cash and savings togetherLn 1–2$68K
InvestmentsLn 11–13$319K
Total assetsLn 16$387K
LiabilitiesLn 26$104K
Net assetsLn 32$283K
OperationsPt I, VI
EmployeesI 50
VolunteersI 610
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$77K$68K
InvestmentsLn 11–13$319K
Total assetsLn 16$77K$387K
LiabilitiesLn 26$104K$104K
Net assetsLn 32−$27K$283K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$495$495
Other expenses (24a–d)Ln 24$9K$9K
Total functional expensesLn 25$9K$9K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $319K$9K$310K$283K 990 PDF
FY2024 −$14K$125K−$138K−$27K 990 PDF
FY2023 $0$8K−$8K$111K 990 PDF
FY2022 −$338K$178K−$516K$120K 990 PDF
FY2021 −$10K$63K−$73K$115K 990 PDF
FY2020 −$73K$18K−$91K$181K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support M · Noncash O · Explanations
See the full FY2025 990 (6 parts)
Part I · Summary $318,956 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$318,956
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year −$13,634$0
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year −$13,634$318,956
I-13 Grants and similar amounts paidPrior year $124,523$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $0$9,412
I-18 Total expensesPrior year $124,523$9,412
I-19 Revenue less expensesPrior year −$138,157$309,544
Part VI · Governance 10 of 10 board members independent, no flags
VI-1a Voting members of the governing body10
VI-1b Independent voting members10
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $318,956 across 4 lines filed
VIII-1f All other contributions, gifts and grants$318,956
VIII-1g Noncash contributions (included above)$318,956
VIII-1h Total contributions, gifts and grants$318,956
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$318,956
Part IX · Statement of functional expenses $9,412 across 2 lines filed
IX-11a Management feesPrograms $495$495
IX-24 Other expenses (24a–d)Programs $8,917$8,917
IX-25 Total functional expensesPrograms $9,412 · Management $0 · Fundraising $0$9,412
Part X · Balance sheet $386,877 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $77,144$67,739
X-4 Accounts receivable$182
X-13 Program-related investments$318,956
X-16 Total assetsStart of year $77,144$386,877
X-17 Accounts payable and accrued expenses$11
X-25 Other liabilitiesStart of year $104,063$104,241
X-26 Total liabilitiesStart of year $104,063$104,252
X-27 Net assets without donor restrictionsStart of year −$26,919−$30,448
X-28 Net assets with donor restrictions$313,073
X-32 Total net assets or fund balancesStart of year −$26,919$282,625
X-33 Total liabilities and net assetsStart of year $77,144$386,877
Part XI · Reconciliation of net assets $282,625 net assets at year end
XI-1 Total revenue$318,956
XI-2 Total expenses$9,412
XI-3 Revenue less expenses$309,544
XI-4 Net assets at start of year−$26,919
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$282,625

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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