Wake Forest University: $686.9M Revenue, $654.8M Expenses

The composite efficiency score of 54/100 puts Wake Forest University at C — neither standout nor failing. Some factors run above the median (often reserves) while others run below (often revenue stability or officer-comp ratio).

Annual revenue at Wake Forest University runs $686.9M (2023), placing it among the larger U.S. nonprofits in the IRS Form 990 dataset. On the financial-health factor, Wake Forest University runs thin — assets relative to annual spending fall below the cushion nonprofit-finance experts typically recommend.

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. Officer compensation is modest relative to organizational size: Wake Forest University reports $9.0M in total compensation for current officers and key employees (Form 990 Part IX, line 5) against $686.9M in revenue. The ratio is well within the bands third-party charity raters consider reasonable at this scale. 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 figures should be read.