Nonprofit · EIN 06-1818498
WAKE FOREST INNOVATION QUARTER MANAGEMENT CO
Tax-exempt · WINSTONSALEM, NC 27157
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $83,520 | $2,689,124 | -$2,605,604 | $77,431 | $27,437,732 | -$27,360,301 |
| December 31, 2023 | 990 | $68,714 | $2,955,970 | -$2,887,256 | $87,638 | $24,842,335 | -$24,754,697 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $83,520
- Investment income
- $0
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Other salaries and wages
- $805,225
- Salaries, compensation and benefits (total)
- $974,437
- Professional fundraising fees
- $0
- Legal fees
- $4,294
- Occupancy
- $443,764
- Travel
- $28,675
- Program services (functional)
- $2,493,550
- Management and general (functional)
- $195,574
Balance sheet and other
- Total assets, start of year
- $87,638
- Total assets, end of year
- $77,431
- Total liabilities, end of year
- $27,437,732
- Net assets, end of year
- -$27,360,301
- Net assets without donor restrictions
- -$27,360,301
- Gross receipts
- $83,520
- Employees
- 0
- Volunteers
- 4
- Year formed
- 2007
- State of legal domicile
- NC
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| J MCLAIN WALLACE JR | DIRECTOR & TREASURER Trustee or director, Officer | 0.5 | $1,659,102 | $0 | $30,227 |
| SUSAN R WENTE PHD | DIRECTOR & CHAIR Trustee or director, Officer | 1 | $0 | $1,229,582 | $363,435 |
| TERRY L HALES JR | DIRECTOR & PRESIDENT Trustee or director, Officer | 2 | $0 | $1,310,800 | $52,534 |
| J REID MORGAN | FORMER OFFICER Former | 0 | $0 | $412,282 | $57,418 |
990 for the year ended December 31, 2023: 5 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| SUSAN R WENTE PHD | DIRECTOR & CHAIR Trustee or director, Officer | 1 | $0 | $1,473,696 | $325,680 |
| J MCLAIN WALLACE JR | DIRECTOR & TREASURER Trustee or director, Officer | 0.5 | $983,574 | $0 | $35,934 |
| TERRY L HALES JR | DIRECTOR & PRESIDENT Trustee or director, Officer | 2 | $0 | $867,249 | $56,067 |
| J REID MORGAN | DIRECTOR & SECRETARY (TO 6/30/23) Trustee or director, Officer | 0.5 | $0 | $690,571 | $108,874 |
| ANITA CONRAD | ASST SECRETARY (TO 10/31/23) Trustee or director, Officer | 1 | $0 | $218,902 | $42,998 |
Address and contacts
- Address (IRS master file)
- MEDICAL CENTER BOULEVARD, WINSTONSALEM, NC 27157-0001
- In care of
- % TERRY HALES
- Principal officer (990 for 2024)
- TERRY L HALES JR, MEDICAL CENTER BOULEVARD, WINSTONSALEM, NC 27157
- Signed the 990
- TERRY L HALES JR, PRESIDENT
- Phone
- (336) 716-4445
- Website
- WWW.INNOVATIONQUARTER.COM
Mission
SEE SCHEDULE OOUR DEDICATION TO ELEVATING HEALTH CARE FOR EVERY INDIVIDUAL, EVERY TEAMMATE AND EVERY COMMUNITY IS UNWAVERING. WE WON'T STOP UNTIL EVERYONE - NO MATTER WHO THEY ARE OR WHERE THEY COME - FROM HAS THE POSSIBILITY TO LIVE WELL. AND BECAUSE OF THIS, WE ARE REDEFINING WHY WE EXIST, OUR PURPOSE AS AN ORGANIZATION AND HOW WE MAKE IT HAPPEN TOGETHER AS ONE.OUR PURPOSE: FROM DISCOVERY TO EVERYDAY MOMENTS, WE'RE REDEFINING CARE.OUR COMMITMENTS ARE THE PROMISES OUR TEAMMATES MAKE TO FULFILL OUR PURPOSE.-LIFT EVERYONE UP: WE BELIEVE EVERYONE MATTERS AND CREATE SPACES WHERE ALL BELONG AND CAN THRIVE.-LEAD THE WAY: WE CHART NEW PATHS TO ACHIEVE THE EXTRAORDINARY.-THINK BOLDLY TOGETHER: WE COLLABORATE WITH HUMILITY, TURNING THE BEST IDEAS INTO NEW POSSIBILITIES.-EMBRACE THE UNKNOWN: WE DRIVE CHANGE THROUGH FEARLESS CURIOSITY AND UNSHAKEABLE OPTIMISM.
Program accomplishments
- OVERSIGHT OF ALL WAKE FOREST UNIVERSITY HEALTH SCIENCES (WFUHS) ACTIVITIES INVOLVING THE WAKE FOREST INNOVATION QUARTER, INCLUDING LAND ACQUISITION, MASTER PLANNING, AND PARK DEVELOPMENT SUCH AS INFRASTRUCTURE, RECRUITING, ETC., AND TO COORDINATE THE EFFORTS OF ALL WFUHS AFFILIATED RESEARCH PARK ENTITIES, INCLUDING WAKE FOREST INNOVATION QUARTER CDC. THE ORGANIZATION WILL PROVIDE AN ADDITIONAL CAMPUS FOR THE LONG-TERM RESEARCH SPACE NEEDS OF WFUHS AND UNDERTAKE REVITALIZATION AND REDEVELOPMENT EFFORTS OF THE CENTER-CITY AREA OF WINSTON-SALEM.THE ORGANIZATION MAINTAINS THE LONG BRANCH TRAIL, A 1.7 MILE NETWORK OF GREENWAY TRAILS FOR WALKING, RUNNING, AND BIKING THAT RUNS THROUGH INNOVATION QUARTER. THE TRAIL WAS BUILT THROUGH COLLABORATION AMONG THE FILING ORGANIZATION, ITS AFFILIATES, THE CITY OF WINSTON SALEM, THE NORTH CAROLINA DEPARTMENT OF TRANSPORTATION, AND THE NORTH CAROLINA DEPARTMENT OF TRANSPORTATION - RAIL DIVISION. DURING CY24, THE ORGANIZATION PROVIDED FREE COMMUNITY PROGRAMS HOSTED AT BAILEY PARK, WHICH OFFERS A STAGE, LAWN, AND FOOD TRUCK COURT TO ACCOMMODATE LARGE GATHERINGS:- INNOVATION & CINEMA (COMMUNITY FILM SERIES);- SUNSET SALUTATIONS IN BAILEY PARK (COMMUNITY YOGA SERIES);- FITNESS FRIDAYS (FITNESS SERIES IN PARTNERSHIP WITH F45 WINSTON-SALEM); - FOOD TRUCK FRIDAYS (MONTHLY MAY THROUGH NOVEMBER); AND- JUNETEENTH FESTIVALExpenses $2,493,550 · revenue $83,520
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 06-1818498
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Supporting organization (509(a)(3))
- Donations deductible (Pub 78)
- Supporting organization of unknown type
- Exempt since
- 2009
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S11)
- Assets (IRS master file)
- $77,431
- Income (IRS master file)
- $83,520
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $83,520 | $2,689,124 | $77,431 | XML |
| 990 | December 2023 | $68,714 | $2,955,970 | $87,638 | XML |
| 990 | December 2022 | $0 | $2,788,694 | $81,245 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | IRS |
| 990 | June 2019 | – | – | – | IRS |
| 990 | June 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 06-1818498).
Questions about WAKE FOREST INNOVATION QUARTER MANAGEMENT CO
- What is the EIN of WAKE FOREST INNOVATION QUARTER MANAGEMENT CO?
- The employer identification number (EIN) of WAKE FOREST INNOVATION QUARTER MANAGEMENT CO is 06-1818498.
- Is WAKE FOREST INNOVATION QUARTER MANAGEMENT CO tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2009.
- Are donations to WAKE FOREST INNOVATION QUARTER MANAGEMENT CO tax-deductible?
- Yes. It is listed in IRS Publication 78 (Supporting organization of unknown type).
- Which annual return does WAKE FOREST INNOVATION QUARTER MANAGEMENT CO file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of WAKE FOREST INNOVATION QUARTER MANAGEMENT CO due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did WAKE FOREST INNOVATION QUARTER MANAGEMENT CO last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of WAKE FOREST INNOVATION QUARTER MANAGEMENT CO?
- The 990 for the year ended December 31, 2024 names TERRY L HALES JR.
- Who are the officers and directors of WAKE FOREST INNOVATION QUARTER MANAGEMENT CO?
- The 990 for the year ended December 31, 2024 lists 4 people; 1 received compensation from the organization, the highest $1,659,102 (J MCLAIN WALLACE JR, DIRECTOR & TREASURER).
- How much revenue does WAKE FOREST INNOVATION QUARTER MANAGEMENT CO have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $83,520, expenses of $2,689,124 and total assets of $77,431 at year end.
Other nonprofits in WINSTONSALEM
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- WAKE FOREST INNOVATION QUARTER CDC EIN 20-0177581 · last filed 990 for 2024
- PROGRESS WORKS CORPORATION EIN 81-3828350 · last filed 990-EZ for 2025
- WAKE FOREST INNOVATION QUARTER DEVELOPMENT CO EIN 56-2094067 · last filed 990-N for 2024
- NORTH CAROLINA BAPTIST HOSPITAL EIN 56-0552787 · last filed 990 for 2024
- WAKE FOREST UNIVERSITY HEALTH SCIENCES EIN 22-3849199 · last filed 990 for 2024
- WAKE FOREST UNIVERSITY EIN 56-0532138 · last filed 990 for 2025
- WAKE FOREST UNIVERSITY BAPTIST MEDICAL CENTER EIN 51-0190238 · last filed 990 for 2024
All nonprofits in WINSTONSALEM · North Carolina · Community improvement and capacity building