WAKE FOREST UNIVERSITY BAPTIST MEDICAL CENTER
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 | $172,627,029 | $230,304,142 | -$356,742,790 |
| FY2023 | $163,386,699 | $197,909,707 | -$298,705,145 |
| FY2022 | $169,430,781 | $184,950,341 | -$264,067,158 |
| FY2021 | $71,035,628 | $99,449,912 | -$248,958,748 |
| FY2020 | $135,588,853 | $152,452,854 | -$166,416,382 |
| FY2019 | $141,446,455 | $163,752,837 | -$152,557,719 |
| FY2018 | $143,937,875 | $138,982,200 | $122,533,703 |
| FY2017 | $143,160,669 | $156,616,705 | $98,910,198 |
| FY2016 | $25,929,187 | $32,105,390 | $128,505,089 |
| FY2015 | $4,664,620 | $1,093,449 | $100,996,251 |
| FY2014 | $322,352 | $1,045,792 | $82,528,687 |
| FY2013 | $327,803 | $348,633 | $74,167,215 |
| FY2012 | $190,873 | $190,873 | $0 |
| FY2011 | $12,836 | $12,836 | $0 |
Where the revenue came from
| Source | Amount | % of revenue |
|---|---|---|
| Contributions & grants | $8,917,329 | 5% |
| Program service revenue | $153,650,548 | 95% |
Where the money was spent
| Category | Amount | % of expenses |
|---|---|---|
| Program services | $216,699,729 | 94% |
| Management & general | $13,604,413 | 6% |
| Fundraising | $0 | 0% |
What the numbers show
- Program service revenue made up 95% of total revenue in FY2024.
- Program services accounted for 94% of functional expenses, management & general 6%, and fundraising 0%.
- 94% of functional expenses went to program services in FY2024. That is higher than 82.6% of 92 Health Care organizations in NC.
- Net assets covered about -18.6 months of expenses at the end of the reporting year. That puts it in the 2nd percentile among 510 Health Care organizations in NC.
- Total revenue was higher than 95% of 522 Health Care organizations in NC.
- Total revenue rose from $12,836 in FY2011 to $172,627,029 in FY2024, Revenue increased in 8 and decreased in 5 of 13 year-over-year comparisons.
- Expenses exceeded revenue in 10 of 14 reported years (FY2013, FY2014, FY2016, FY2017, FY2019, FY2020, FY2021, FY2022, FY2023, FY2024).
- Net assets declined from $0 to -$356,742,790 between FY2011 and FY2024.
- Contributions and grants made up 0% of revenue in FY2011 and 5% in FY2024.
- Donations are generally tax-deductible (supporting organization).
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 | 1976 |
| Subsection | 501(c)(3) |
| Classification | Public charity |
| Program area (NTEE) | E120 — Health Care (in NC) |
| Donations | Donations are generally tax-deductible (supporting organization). |
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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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