Wakemed
3000 New Bern Ave, Raleigh, NC · IRS data through FY2025
Revenue, expenses and net assets
Revenue Expenses Net assets
| Tax year | Revenue | Expenses | Net assets |
|---|---|---|---|
| FY2025 | $54,991,401 | $61,991,526 | $259,694,032 |
| FY2024 | $44,594,904 | $51,954,129 | $256,993,717 |
| FY2023 | $32,481,397 | $40,871,945 | $281,898,066 |
| FY2022 | $32,094,659 | $39,641,163 | $288,846,058 |
| FY2021 | $30,125,616 | $31,694,086 | $305,055,277 |
| FY2020 | $26,561,346 | $27,649,469 | $285,373,860 |
| FY2019 | $22,227,500 | $24,674,892 | $257,087,052 |
| FY2018 | $17,936,574 | $21,029,878 | $261,908,582 |
| FY2017 | $22,146,388 | $20,884,281 | $260,882,198 |
| FY2016 | $12,923,234 | $17,898,530 | $173,736,447 |
| FY2015 | $14,499,260 | $17,534,807 | $174,414,329 |
| FY2014 | $49,685,598 | $22,635,138 | $122,255,010 |
| FY2013 | $68,306,265 | $19,567,388 | $118,629,790 |
| FY2012 | $67,344,756 | $13,564,848 | $109,993,876 |
Form 990 filings
The returns filed by Wakemed (EIN 90-0893457), including Form 990 PDFs and e-file data by year, are available in ProPublica's Nonprofit Explorer. The figures on this page come from IRS data files built from those returns.
Where the revenue came from
| Source | Amount | % of revenue |
|---|---|---|
| Contributions & grants | $14,731,351 | 27% |
| Program service revenue | $36,728,798 | 67% |
| Other revenue | $3,531,252 | 6% |
Where the money was spent
| Category | Amount | % of expenses |
|---|---|---|
| Program services | $59,628,735 | 96% |
| Management & general | $1,550,101 | 3% |
| Fundraising | $812,690 | 1% |
What the numbers show
- Program service revenue made up 67% of total revenue in FY2025.
- Program services accounted for 96% of functional expenses, management & general 3%, and fundraising 1%.
- 96% of functional expenses went to program services in FY2025. That is higher than 93.5% of 92 Health Care organizations in NC.
- Net assets covered about 50.3 months of expenses at the end of the reporting year. That puts it in the 81st percentile among 512 Health Care organizations in NC.
- Total revenue was higher than 91% of 524 Health Care organizations in NC.
- Total revenue fell from $67,344,756 in FY2012 to $54,991,401 in FY2025. Revenue increased in 9 and decreased in 4 of 13 year-over-year comparisons.
- Expenses exceeded revenue in 10 of 14 reported years (FY2015, FY2016, FY2018, FY2019, FY2020, FY2021, FY2022, FY2023, FY2024, FY2025).
- The highest revenue on record here is $68,306,265 in FY2013.
- Net assets grew from $109,993,876 to $259,694,032 between FY2012 and FY2025.
- Contributions and grants made up 14% of revenue in FY2012 and 27% in FY2025.
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 THE HEALTH AND WELL-BEING OF OUR COMMUNITY WITH OUTSTANDING AND COMPASSIONATE CARE TO ALL.
IRS status
| Ruling year | 1967 |
| Subsection | 501(c)(3) |
| Classification | Public charity |
| Program area (NTEE) | E21 — Health Care (in NC) |
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Source: Internal Revenue Service — Exempt Organizations Business Master File (downloaded November 4, 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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