2024-05-13T12:20:04-04:00 2023-06-30 561138530 BUTLER BURKE LLP 100 CLUB OAKS COURT SUITE A WINSTONSALEM NC 27104 990 2022-07-01 560774769 THE JAMES W DENMARK LOAN FUND INC JAME 3367584240 PO BOX 7354 WINSTONSALEM NC 27109 JAMES J DUNN TREASURER 3367584240 2024-04-24 true JAMES J DUNN 999009999 false JANE R POTTER P01057495 3367682310 2024-04-24 2022 2023-04-26 12:10:37Z J REID MORGAN PO BOX 7354 WINSTONSALEM NC 27109 396127 false X N/A X 1887 NC THE JAMES W DENMARK LOAN FUND, INC HAS PROVIDED FINANCIAL ASSISTANCE IN THE FORM OF LOANS TO STUDENTS AT WAKE FOREST UNIVERSITY SINCE ITS INCEPTION IN 1887. 11 5 0 15 0 0 34092 27089 66498 189659 7626 3679 108216 220427 0 0 0 0 0 22756 16072 22756 16072 85460 204355 4883730 5326211 1600 600 4882130 5325611 THE JAMES W DENMARK LOAN FUND, INC HAS PROVIDED FINANCIAL ASSISTANCE IN THE FORM OF LOANS TO STUDENTS AT WAKE FOREST UNIVERSITY SINCE ITS INCEPTION IN 1887. false false 5872 27089 THE JAMES W DENMARK LOAN FUND, INC PROVIDES FINANCIAL ASSISTANCE IN THE FORM OF LOANS TO STUDENTS AT WAKE FOREST UNIVERSITY. IN THE CURRENT FISCAL YEAR, THE ORGANIZATION DID NOT FUND ANY LOANS. STUDENT NEEDS ARE ANALYZED BY THE WAKE FOREST UNIVERSITY FINANCIAL AID OFFICE AND THE SUM OF THE FUNDS REQUIRED ARE PROVIDED TO THE UNIVERSITY. REPAYMENTS ARE MADE DIRECTLY TO THE ORGANIZATION BY GRADUATED STUDENTS. 5872 true false false false false false false false false false false false false false false true true false false false false false false false false false false false false true false false false false false false false false false false false false false true false false false true 0 0 0 false false false false false false false false false false false false X 11 5 false false false false false false false true true false false true true true true true true true true false X JAMES J DUNN 3367584240 PO BOX 7354 WINSTONSALEM NC 27109 X B HOFLER MILAM DIRECTOR 1.00 39.00 X 0 734339 261754 J REID MORGAN DIRECTOR / P 1.00 39.00 X X 0 647740 142213 MARY TRIBBLE DIRECTOR 0.10 39.90 X 0 229720 27044 THOMAS BENZA DIRECTOR / S 0.10 39.90 X X 0 109116 28435 HAROLD HOLMES DIRECTOR 0.10 39.90 X 0 12519 2453 DR RICHARD D CARMICHAEL DIRECTOR 0.10 39.90 X 0 11720 2280 W DOUGLAS BLAND DIRECTOR 0.10 X 0 0 0 DR CATHERINE T HARRIS END 1231 DIRECTOR 0.10 X 0 0 0 KENNETH A ZICK II DIRECTOR 0.10 X 0 0 0 ROBERT D MILLS DIRECTOR 0.10 X 0 0 0 JENNY R PUCKETT END 1231 DIRECTOR 0.10 X 0 0 0 DR J HOWELL SMITH END 123 DIRECTOR 0.10 X 0 0 0 DR C DOUGLAS MAYNARD END 1231 DIRECTOR 0.10 X 0 0 0 SANDRA C BOYETTE DIRECTOR 0.10 X 0 0 0 MURRAY C GREASON JR DIRECTOR / V 0.10 X X 0 0 0 JAMES J DUNN TREASURER 0.30 X 0 0 0 1745154 464179 false true false INCOME FROM STUDENT LOANS 525990 27089 27089 27089 128133 128133 237226 175700 61526 61526 61526 PROVISION FOR UNCOLLECTIBLE L 900099 3247 3247 MISCELLANEOUS 900099 432 432 3679 220427 27089 193338 10200 10200 COLLECTION FEES 5872 5872 16072 5872 10200 0 1248380 1573311 2833 278 767586 592516 2864931 3160106 4883730 5326211 1600 600 1600 600 X 4882130 5325611 4882130 5325611 4883730 5326211 204355 239126 X false true X false false X X 1 WAKE FOREST UNIVERSITY 560532138 2 true 0 0 1 0 true false false false false false false false false false false false false false false true false true X true false PART IV, SECTION D, LINE 2 DIRECTORS AND OFFICERS ARE ELECTED BY THE BOARD OF THE FILING ORGANIZATION. ALL OFFICERS AND DIRECTORS ARE ALUMNI OF, OR ARE OR HAVE BEEN MEMBERS OF THE FACULTY OR STAFF OF, THE SUPPORTED ORGANIZATION, WAKE FOREST UNIVERSITY, AND THROUGH THOSE CONNECTIONS MAINTAIN A CLOSE AND CONTINUOUS WORKING RELATIONSHIP WITH THE SUPPORTED ORGANIZATION. PART IV, SECTION D, LINE 3 SOME OFFICERS OF THE FILING ORGANIZATION ARE OR WERE OFFICERS OF THE SUPPORTED ORGANIZATION; SOME DIRECTORS OF THE FILING ORGANIZATION ARE FORMER TRUSTEES OF THE SUPPORTED ORGANIZATION, WAKE FOREST UNIVERSITY. BECAUSE OF THOSE ROLES, SUCH PERSONS HAVE A CURRENT AWARENESS OF THE NEEDS OF THE SUPPORTED ORGANIZATION. FURTHERMORE, THE TREASURER OF THE FILING ORGANIZATION IS THE CEO OF THE SUPPORTED ORGANIZATION'S INVESTMENT MANAGER; THE SECRETARY OF THE FILING ORGANIZATION IS THE DIRECTOR OF FINANCIAL AID OF THE SUPPORTED ORGANIZATION. PART IV, SECTION E, LINE 2A THE PURPOSE OF THE FILING ORGANIZATION IS TO SUPPORT ITS SUPPORTED ORGANIZATION, WAKE FOREST UNIVERSITY, BY MAKING FINANCIAL AID AWARDS TO ITS STUDENTS IN THE FORM OF LOANS. BY PROVIDING THESE LOANS, WAKE FOREST UNIVERSITY EXPOSES STUDENTS TO THE IDEALS OF LIBERAL LEARNING, WHICH ENTAIL COMMITMENT TO TRANSMISSION OF CULTURAL HERITAGES, TEACHING THE MODES OF LEARNING IN THE BASIC DISCIPLINES OF HUMAN KNOWLEDGE, DEVELOPING CRITICAL APPRECIATION OF MORAL, AESTHETIC AND RELIGIOUS VALUES, ADVANCING THE FRONTIERS OF KNOWLEDGE THROUGH IN-DEPTH STUDY AND RESEARCH AND APPLYING KNOWLEDGE IN THE SERVICE OF HUMANITY. X 459553 239126 239126 220427 220427 16072 16072 16072 SCHEDULE D, PAGE 3, PART X JAMES W. DENMARK LOAN FUND, INC. IS A NOT-FOR-PROFIT ORGANIZATION AND IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. ACCORDINGLY, INCOME TAX EXPENSE IS LIMITED TO ACTIVITIES THAT ARE DEEMED BY THE INTERNAL REVENUE SERVICE TO BE UNRELATED TO ITS EXEMPT PURPOSE. JAMES W. DENMARK LOAN FUND, INC.'S PRIMARY TAX POSITIONS RELATE TO ITS STATUS AS A NOT-FOR-PROFIT ENTITY EXEMPT FROM INCOME TAXES AND CLASSIFICATION OF ACTIVITIES RELATED TO ITS EXEMPT PURPOSE. IT IS THE OPINION OF MANAGEMENT THAT JAMES W. DENMARK LOAN FUND, INC. HAS NO UNCERTAIN TAX POSITIONS THAT WOULD BE SUBJECT TO CHANGE UPON EXAMINATION. JAMES W. DENMARK LOAN FUND, INC. IS REQUIRED TO FILE A FEDERAL EXEMPT ORGANIZATION TAX RETURN (FORM 990) ANNUALLY TO RETAIN ITS EXEMPT STATUS. JAMES W. DENMARK LOAN FUND, INC. IS ALSO REQUIRED TO FILE AN EXEMPT ORGANIZATION BUSINESS INCOME TAX RETURN (FORM 990-T) FOR ANY YEAR GROSS UNRELATED BUSINESS INCOME EXCEEDS 1,000. JAMES W. DENMARK LOAN FUND, INC.'S FORM 990 FILINGS ARE GENERALLY SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE FOR THREE YEARS AFTER THEY ARE FILED. false true false false false false false false false B HOFLER MILAM DIRECTOR 673495 40000 20844 230500 31254 996093 J REID MORGAN DIRECTOR / PRESIDENT 551895 75000 20845 105500 36713 789953 MARY TRIBBLE DIRECTOR 219324 10000 396 17428 9616 256764 SCHEDULE J, PART III PART I, LINE 4B: J. REID MORGAN SERVES AS THE SENIOR VICE PRESIDENT AND GENERAL COUNSEL OF WAKE FOREST UNIVERSITY, A RELATED ORGANIZATION. HIS COMPENSATION FROM WAKE FOREST UNIVERSITY INCLUDES 75,000 SHOWN IN SCHEDULE J, PART II, COLUMN C, FROM HIS PARTICIPATION IN A DEFERRED COMPENSATION ARRANGEMENT. B. HOFLER MILAM SERVES AS THE EXECUTIVE VICE PRESIDENT, CFO. AND TREASURER OF WAKE FOREST UNIVERSITY, A RELATED ORGANIZATION. HIS COMPENSATION INCLUDES 200,000 SHOWN IN SCHEDULE J, PART II, COLUMN C, FROM HIS PARTICIPATION IN A DEFERRED COMPENSATION ARRANGEMENT. PART III - OTHER ADDITIONAL INFORMATION THE FILING ORGANIZATION HAS NO EMPLOYEES, AND NONE OF ITS OFFICERS OR DIRECTORS IS COMPENSATED FOR THEIR SERVICE TO THE FILING ORGANIZATION. FORM 990, PAGE 6, PART VI, LINE 11B FORM 990 IS PROVIDED TO THE BOARD OF DIRECTORS FOR REVIEW PRIOR TO FILING, WITH AN OPPORTUNITY FOR REVIEW AND COMMENT. FORM 990, PAGE 6, PART VI, LINE 12C THE FILING ORGANIZATION'S GOVERNING BOARD HAS ADOPTED A CONFLICTS OF INTEREST POLICY THAT REQUIRES OFFICERS AND DIRECTORS TO CONFIRM ANNUALLY THEIR FAMILIARITY WITH THE POLICY AND THAT THEY HAVE NO CONFLICTS OF INTEREST. THE POLICY REQUIRES SUCH PERSONS TO DISCLOSE, AS THEY ARISE, ANY ACTUAL OR POSSIBLE CONFLICT OF INTEREST AS DEFINED IN THE POLICY. THE POLICY DESCRIBES THE PROCESS BY WHICH DETERMINATION OF THE EXISTENCE OF A CONFLICT IS MADE, THE INTERESTED PERSON'S RECUSAL FROM THE DETERMINATION PROCESS, AND THE PROCESS BY WHICH CONFLICTS DETERMINED TO EXIST ARE MANAGED. THE POLICY REQUIRES RECORDS OF THESE PROCESSES BE MAINTAINED. FORM 990, PAGE 6, PART VI, LINE 15A THE PRESIDENT (AND DIRECTOR) J. REID MORGAN, AND DIRECTOR B. HOFLER MILAM, EACH RECEIVE COMPENSATION FOR FULL-TIME EMPLOYMENT WITH THE RELATED ORGANIZATION, WAKE FOREST UNIVERSITY. COMPENSATION REVIEW AND APPROVAL ARE PERFORMED FOR EACH IN THAT ENTITY. THE FILING ORGANIZATION HAS NO EMPLOYEES, BUT ITS OFFICERS AND DIRECTORS, WHOSE COMPENSATION IS REPORTED IN PART VII AND ON SCHEDULE J, RECEIVE COMPENSATION FOR FULL-TIME EMPLOYMENT FROM THE RELATED ORGANIZATION, WAKE FOREST UNIVERSITY. THE FILING ORGANIZATION'S PRESIDENT (AND DIRECTOR) J. REID MORGAN, AND DIRECTOR B. HOFLER MILAM, HAVE COMPENSATION REVIEW AND APPROVAL PERFORMED BY WAKE FOREST UNIVERSITY, THE RELATED ORGANIZATION IN WHICH BOTH SERVE AS OFFICERS. FORM 990, PAGE 6, PART VI, LINE 15B THE PRESIDENT (AND DIRECTOR) J. REID MORGAN, AND DIRECTOR B. HOFLER MILAM, EACH RECEIVE COMPENSATION FOR FULL-TIME EMPLOYMENT WITH THE RELATED ORGANIZATION, WAKE FOREST UNIVERSITY. COMPENSATION REVIEW AND APPROVAL ARE PERFORMED FOR EACH IN THAT ENTITY. THE FILING ORGANIZATION HAS NO EMPLOYEES, BUT THE PRESIDENT (AND DIRECTOR) J. REID MORGAN, AND DIRECTOR B. HOFLER MILAM, AND OTHER DIRECTORS, WHOSE COMPENSATION IS REPORTED IN PART VII AND ON SCHEDULE J, RECEIVE COMPENSATION FOR FULL-TIME EMPLOYMENT FROM THE RELATED ORGANIZATION, WAKE FOREST UNIVERSITY. THE PRESIDENT (AND DIRECTOR) J. REID MORGAN, AND DIRECTOR B. HOFLER MILAM HAVE COMPENSATION REVIEW AND APPROVAL PERFORMED BY WAKE FOREST UNIVERSITY, THE RELATED ORGANIZATION IN WHICH BOTH SERVE AS OFFICERS. FORM 990, PAGE 6, PART VI, LINE 19 THE FILING ORGANIZATION HAS NEVER HAD A REQUEST FOR A COPY OF ITS FORM 990 BUT WOULD PROVIDE A COPY, PER THE REGULATIONS, IF ASKED. FORM 990, PART VII B. HOFLER MILAM: B. HOFLER MILAM IS THE EXECUTIVE VICE PRESIDENT, CFO, AND TREASURER OF WAKE FOREST UNIVERSITY, THE SUPPORTED ORGANIZATION OF THE FILING ORGANIZATION AND WAS COMPENSATED DURING THE YEAR SOLELY IN THAT CAPACITY. J. REID MORGAN: J. REID MORGAN, PRESIDENT OF THE FILING ORGANIZATION, IS SENIOR VICE PRESIDENT AND GENERAL COUNSEL OF WAKE FOREST UNIVERSITY, THE SUPPORTED ORGANIZATION OF THE FILING ORGANIZATION, AND WAS COMPENSATED DURING THE YEAR SOLELY IN THAT CAPACITY. MARY TRIBBLE: MS. MARY TRIBBLE IS AN EMPLOYEE OF WAKE FOREST UNIVERSITY, THE SUPPORTED ORGANIZATION OF THE FILING ORGANIZATION, AND WAS COMPENSATED DURING THE YEAR SOLELY IN THAT CAPACITY. THOMAS BENZA: MR. THOMAS BENZA WAS, DURING THE TAX PERIOD, AN EMPLOYEE OF WAKE FOREST UNIVERSITY, THE SUPPORTED ORGANIZATION OF THE FILING ORGANIZATION, AND WAS COMPENSATED DURING THE YEAR SOLELY IN THAT CAPACITY. DR. RICHARD CARMICHAEL: DR. RICHARD CARMICHAEL WAS, DURING THE TAX PERIOD, A PROFESSOR AT WAKE FOREST UNIVERSITY, THE SUPPORTED ORGANIZATION OF THE FILING ORGANIZATION, AND WAS COMPENSATED DURING THE YEAR SOLELY IN THAT CAPACITY. HAROLD HOLMES: MR. HAROLD HOLMES WAS, DURING THE TAX PERIOD, AN EMPLOYEE OF WAKE FOREST UNIVERSITY, THE SUPPORTED ORGANIZATION OF THE FILING ORGANIZATION, AND WAS COMPENSATED DURING THE YEAR SOLELY IN THAT CAPACITY. HOURS ALLOCATED TO THIS AND OTHER RELATED AND AFFILIATED ORGANIZATIONS: B. HOFLER MILAM FILING ORGANIZATION: 1.0 HOURS RELATED ORGANIZATIONS: 36.5 HOURS AFFILIATED ORGANIZATIONS: 2.5 HOURS J. REID MORGAN FILING ORGANIZATION: 1.0 HOURS RELATED ORGANIZATIONS: 19.7 HOURS AFFILIATED ORGANIZATIONS: 19.3 HOURS JAMES J. DUNN FILING ORGANIZATION: 0.3 HOURS RELATED ORGANIZATIONS: 0.0 HOURS AFFILIATED ORGANIZATIONS: 39.7 HOURS WAKE FOREST UNIVERSITY 1834 WAKE FOREST ROAD WINSTONSALEM NC 27109 560532138 EDUCATION NC 501C3 2 NA false false false false false false false false false false false false false false false false false false false false