Overview
What is Wake Forest University Foundation?
Wake Forest University Foundation is a nonprofit organization, serving as a supportive entity for Wake Forest University (WFU). Situated in Winston-Salem, North Carolina, the foundation primarily manages and invests income generated from its subsidiary entities' real properties. Its mission encompasses various activities, including serving as a holding and management company for long-term properties and endowments, aiding WFU in development efforts, acquiring and improving properties, and establishing subsidiary organizations to further support WFU's objectives. The foundation's activities are directed towards benefiting WFU as a whole.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 94% (Four-Star out of Four Star rating)
Wake Forest University Foundation has earned a strong Four-Star rating from Charity Navigator, reflecting exceptional accountability and financial health. With an overall score of 94%, the organization demonstrates a commitment to transparency and effective management, as evidenced by a perfect score in the Accountability & Finance category. This rating is based entirely on their financial practices, showcasing their dedication to maintaining high standards.
The foundation boasts a fully independent board, with 100% of its members being independent, which enhances its governance structure. Additionally, the foundation has zero material diversion of assets and adheres to a comprehensive conflict of interest policy. Their strong financial metrics, including a program expense ratio of 100%, indicate that all funds are allocated effectively towards their programs.
Despite the favorable ratings and solid financial practices, potential donors and stakeholders should remain vigilant and continue to monitor the foundation's activities to ensure ongoing compliance with best practices in nonprofit governance. Overall, the Wake Forest University Foundation exemplifies a responsible stewardship of resources, making it a reliable choice for support.
This AI summary has been generated from information found on Charity Navigator.
Is Wake Forest University Foundation legitimate?
Wake Forest University Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Wake Forest University Foundation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
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Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Wake Forest University Foundation?
The Wake Forest University Foundation serves as a supporting organization primarily benefiting Wake Forest University (WFU). Its objectives include acting as a holding and management company for long-term properties and endowments, managing planned-giving properties and programs, aiding in WFU's development, acquiring and managing real and personal property, and establishing subsidiary organizations or entities to further support WFU's needs. The foundation's main goal is to contribute to WFU's growth and development through various activities conducted by itself and subsidiary organizations.
Who is the CEO of Wake Forest University Foundation?
Susan R Wente Phd is the President of Wake Forest University Foundation.
What is the revenue of Wake Forest University Foundation?
Wake Forest University Foundation's revenue in 2022 was $32,660.
Who are the executives of Wake Forest University Foundation and what are their salaries?
There 12 volunteers at Wake Forest University Foundation.
Here are 16 key members and their salaries:
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- Related: $2,133,852
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- Related: $1,218,034
- Other: $102,296
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- Related: $692,191
- Other: $156,642
- Compensation: $0
- Related: $205,155
- Other: $42,128
Where can I find the form 990 for Wake Forest University Foundation?
Wake Forest University Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Wake Forest University Foundation
Wake Forest University Foundation, serving as a supporting organization, is committed to benefiting Wake Forest University (WFU) in various capacities. Its primary objectives include acting as a holding and management company for long-term properties and endowments, overseeing planned-giving properties and programs, contributing to WFU's fundraising efforts, and acquiring, improving, managing, investing, and disposing of real and personal properties. Furthermore, the foundation establishes subsidiary organizations or entities to further support WFU's goals and activities. In essence, Wake Forest University Foundation's mission is to foster the growth and development of WFU by leveraging its resources and expertise in property management, planned giving, and subsidiary organization establishment.
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Impact
October, 2024
The Wake Forest University Foundation significantly enhances Wake Forest University's capacity to thrive and grow by managing and optimizing its real properties and endowments. By serving as a holding and management company, the Foundation facilitates the long-term financial stability of the university through strategic investments and improvements to its properties. This includes managing planned-giving properties and supporting development initiatives that directly contribute to the institution's goals.
Through the acquisition and enhancement of real and personal property, the Foundation not only preserves existing assets but also creates new opportunities for advancement. Its activities support the overall mission of Wake Forest University, ensuring that it can continue to provide high-quality education and resources to its students and faculty. By establishing subsidiary entities, the Foundation further strengthens its ability to fulfill its objectives and enhance the university's offerings. Ultimately, the Foundation plays a crucial role in fostering the growth, sustainability, and development of Wake Forest University, impacting the education landscape positively.
This information is meant to be a general summary of Wake Forest University Foundation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Program Service Revenue: $20,536
- Gross Receipts: $2,410,107
Assets and Liabilities:
- Total Assets: $7,089,565
- Total Liabilities: $2,311,199
- Net Assets: $4,778,366
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Facility Management
Revenue
$20,536
Organization Details
Founding Year
1996
Phone
(336) 758-5233Principal Officer
Susan R Wente Phd
Main Address
PO Box 7201, WinstonSalem, NC, 27109
NTEE Category
Code: B00I - Education
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