Wake Forest University: $686.9M Revenue, $510.7M Program Expenses
Winstonsalem, North Carolina · EIN 560532138 · Filing year 2023
Wake Forest University reported $686.9M in total revenue, $654.8M in total expenses, and $2.7B in total assets on its 2023 IRS Form 990. 78.0% of expenses ($510.7M) went directly to programs. Top officer compensation is not reported on this 990 filing. Overall efficiency grade: B (68/100).
Source: ProPublica Nonprofit Explorer — IRS Form 990 filings, filing year 2023.
Key Facts (2023 Form 990)
- Total Revenue
- $686.9M
- Total Expenses
- $654.8M
- Program Expenses
- $510.7M
- Program Expense Ratio
- 78.0%
- Total Assets
- $2.7B
- Reserve Months
- 48.7 months
- EIN
- 560532138
- Latest 990 Year
- 2023
- Top Officer Compensation
- Not reported
The efficiency rubric puts Wake Forest University at a B grade: a composite of 68/100 that lands above the national midpoint. The grade reflects solid program-spending discipline alongside reasonable executive compensation and financial reserves.
Annual revenue at Wake Forest University runs $686.9M (2023), placing it among the larger U.S. nonprofits in the IRS Form 990 dataset. Wake Forest University directs 80% of its expenses to programs — above the third-party-rater threshold for an efficient organization.
Five-year revenue has grown modestly. Wake Forest University is not expanding rapidly but is not shrinking either; the trajectory is consistent with stable donor and grant relationships. CEO compensation is reported as zero in the filing — typical for nonprofits where the chief executive is paid through a related entity (parent system, university, or foundation) rather than the filing organization itself, or for small organizations whose chief is a volunteer or board member. In the Education category, Wake Forest University sits alongside universities, K-12 systems, scholarship funds, and education-research organizations. Education-sector nonprofits often hold large endowments, which affects how the reserves-and-revenue ratios should be read.
How Wake Forest University Compares
Wake Forest University directs 78.0% of spending to programs, meeting the 65% minimum recommended by charity watchdogs. Its efficiency score of 68/100 is 6 points below the Education category average. The organization holds 48.7 months of operating reserves, indicating strong financial stability.
Where Your Donation Goes
Based on IRS tax-exempt organization data, for every dollar donated to Wake Forest University, approximately 78.0 cents goes directly to program activities. The remaining funds cover administrative costs, fundraising, and management expenses.
Revenue History
Wake Forest University has an Efficiency Score of B (68/100). Approximately 78.0% of expenses go directly to program activities, with the remainder covering administration and fundraising.
Wake Forest University, Donor FAQ
Wake Forest University has an Efficiency Score of B (68/100). Approximately 78.0% of expenses go directly to program activities, with the remainder covering administration and fundraising.
CEO/officer compensation for Wake Forest University is not reported in the most recent IRS 990 filing on file.
Wake Forest University reported $686.9M in annual revenue and $654.8M in total expenses for filing year 2023. The organization holds $2.7B in total assets.
For every dollar donated to Wake Forest University, approximately 78.0 cents goes to program activities. The organization has 48.7 months of operating reserves, providing financial stability to sustain its mission.
Wake Forest University is a registered 501(c) organization with EIN 560532138, based in Winstonsalem, North Carolina. Financial data is sourced from publicly available IRS 990 filings via ProPublica Nonprofit Explorer.
Similar Education Nonprofits
Financial data is sourced from IRS 990 filings via ProPublica Nonprofit Explorer. Efficiency Scores combine program spending ratio (50%), revenue growth (20%), reserve months (20%), and CEO compensation ratio (10%). Filing data may lag 6-18 months from the tax year.