WAKE FOREST UNIVERSITY HEALTH SCIENCES
MEDICAL CENTER BOULEVARD, WINSTONSALEM, NC · IRS data through FY2024
Revenue, expenses and net assets
Revenue Expenses Net assets
| Tax year | Revenue | Expenses | Net assets |
|---|---|---|---|
| FY2024 | $1,713,703,683 | $1,611,375,512 | $1,021,112,831 |
| FY2023 | $1,642,738,661 | $1,535,945,189 | $983,731,950 |
| FY2022 | $1,216,917,552 | $1,358,890,515 | $830,287,817 |
| FY2021 | $629,827,374 | $633,532,610 | $942,934,354 |
| FY2020 | $1,070,156,873 | $1,105,965,785 | $554,266,555 |
| FY2019 | $1,047,919,534 | $1,075,819,896 | $564,167,504 |
| FY2018 | $960,431,388 | $975,971,480 | $562,114,686 |
| FY2017 | $1,004,765,981 | $974,549,320 | $524,566,785 |
| FY2016 | $870,505,011 | $885,462,390 | $483,917,450 |
| FY2015 | $787,843,120 | $759,870,455 | $497,216,351 |
| FY2014 | $815,060,976 | $865,232,909 | $476,181,566 |
| FY2013 | $703,339,312 | $735,623,586 | $505,422,544 |
| FY2012 | $717,627,069 | $706,023,590 | $521,605,687 |
| FY2011 | $788,473,229 | $739,374,290 | $538,967,730 |
Where the revenue came from
| Source | Amount | % of revenue |
|---|---|---|
| Contributions & grants | $403,430,126 | 25% |
| Program service revenue | $1,225,612,060 | 75% |
Where the money was spent
| Category | Amount | % of expenses |
|---|---|---|
| Program services | $1,537,780,349 | 95% |
| Management & general | $71,584,891 | 4% |
| Fundraising | $2,010,272 | 0% |
What the numbers show
- Program service revenue made up 75% of total revenue in FY2024.
- Program services accounted for 95% of functional expenses, management & general 4%, and fundraising 0%.
- 95% of functional expenses went to program services in FY2024. That is higher than 88.8% of 152 Education organizations in NC.
- Net assets covered about 7.6 months of expenses at the end of the reporting year. That puts it in the 43rd percentile among 1707 Education organizations in NC.
- Total revenue was higher than 99.9% of 1728 Education organizations in NC.
- Total revenue rose from $788,473,229 in FY2011 to $1,713,703,683 in FY2024, Revenue increased in 8 and decreased in 5 of 13 year-over-year comparisons.
- Expenses exceeded revenue in 8 of 14 reported years (FY2013, FY2014, FY2016, FY2018, FY2019, FY2020, FY2021, FY2022).
- Net assets grew from $538,967,730 to $1,021,112,831 between FY2011 and FY2024.
- Contributions and grants made up 30% of revenue in FY2011 and 24% in FY2024.
Figures compared against other organizations of the same NTEE program area in the same state. See the methodology page for how these are calculated and the guide to reading nonprofit financials for their limits.
About this organization
TO IMPROVE HEALTH, ELEVATE HOPE, AND ADVANCE HEALING FOR ALL.
IRS status
| Ruling year | 2002 |
| Subsection | 501(c)(3) |
| Classification | Public charity |
| Program area (NTEE) | B50 — Education (in NC) |
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Source: Internal Revenue Service — Exempt Organizations Business Master File (downloaded September 20, 2026), Statistics of Income extracts, Form 990 e-file data, Publication 78 and the Automatic Revocation list. Figures are as reported by the organization; IRS processing may adjust them. This is not a charity rating and not tax advice. Confirm deductibility in IRS Tax Exempt Organization Search.
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