Wake Forest University Health Sciences: $1.2B Revenue, $1.1B Program Expenses

Wake Forest University Health Sciences grades a B on the nonprofit efficiency rubric. 77/100 on the composite — above the national median, with strong performance on some factors balanced by middling performance on others.

On revenue, Wake Forest University Health Sciences is among the largest U.S. nonprofits: $1.2B in 2022 reported revenue. Organizations at this scale typically operate hospitals, university systems, or national federations — the financial pattern looks more like a corporation than the small-charity stereotype. Program-spending efficiency is strong: 80% of total expenses flow to program activities, above the 75% benchmark most third-party charity raters use.

Revenue trend is mildly positive across the five-year filing window — modest growth, consistent with stable funding sources keeping pace with organizational costs. 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 Health Sciences 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.