Nonprofit · EIN 51-0190238
WAKE FOREST UNIVERSITY BAPTIST MEDICAL CENTER
Tax-exempt · WINSTONSALEM, NC 27157
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $172,627,029 | $230,304,142 | -$57,677,113 | $648,834,754 | $1,005,577,544 | -$356,742,790 |
| December 31, 2023 | 990 | $163,386,699 | $197,909,707 | -$34,523,008 | $569,235,159 | $867,940,304 | -$298,705,145 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $8,917,329
- Program service revenue
- $153,650,548
- Investment income
- $10,910,733
- Net rental income
- -$851,581
- Net gain from sales of assets
- -$3,521
- Other revenue
- -$851,581
Expenses
- Grants and similar amounts paid
- $20,000,000
- Compensation of officers, directors and key employees
- $1,041,952
- Other salaries and wages
- $102,093,480
- Salaries, compensation and benefits (total)
- $126,842,689
- Professional fundraising fees
- $0
- Legal fees
- $20,120
- Occupancy
- $21,478,526
- Travel
- $215,333
- Depreciation
- $3,293,678
- Program services (functional)
- $216,699,729
- Management and general (functional)
- $13,604,413
Balance sheet and other
- Total assets, start of year
- $569,235,159
- Total assets, end of year
- $648,834,754
- Total liabilities, end of year
- $1,005,577,544
- Net assets, end of year
- -$356,742,790
- Land, buildings and equipment
- $82,250,597
- Publicly traded securities
- $8,875,923
- Net assets without donor restrictions
- -$395,705,960
- Net assets with donor restrictions
- $38,963,170
- Gross receipts
- $173,910,562
- Employees
- 24,858
- Volunteers
- 517
- Year formed
- 1975
- 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 |
|---|---|---|---|---|---|
| EUGENE A WOODS | CEO ADVOCATE HEALTH Officer | 5 | $22,870,198 | $0 | $2,911,081 |
| JULIE ANN FREISCHLAG MD | CEO OF AHWFB Officer | 5 | $0 | $7,594,629 | $40,091 |
| BRADLEY A CLARK | EVP, TREASURER Officer | 4 | $2,513,703 | $0 | $419,389 |
| TERRY G WILLIAMS | FORMER OFFICER Former | 0 | $2,204,442 | $0 | $248,612 |
| L EBONY BOULWARE MD | DEAN, WFU SOM Officer | 5 | $0 | $1,717,096 | $35,593 |
| J MCLAIN WALLACE JR | SVP, GEN COUNSEL & SECRETARY Officer | 5 | $1,659,102 | $0 | $30,227 |
| SUSAN R WENTE PHD | DIRECTOR Trustee or director | 5.5 | $0 | $1,229,582 | $363,435 |
| DAVID ZAAS MD | PRES, HEALTH SYSTEM Officer | 20 | $0 | $1,314,010 | $40,169 |
| KEVIN P HIGH MD | FORMER OFFICER Former | 0 | $0 | $1,277,196 | $45,150 |
| CATHLEEN WHEATLEY DNP | PRES WFBMC, SVP CNO Highest-paid employee | 40 | $1,249,664 | $0 | $18,941 |
| A MICK FISHER | SVP, CHRO WFB Highest-paid employee | 25 | $985,312 | $0 | $34,812 |
| LISA M MARSHALL | VP, CHIEF PHIL OFF Officer | 20 | $974,433 | $0 | $31,375 |
| RAMI BADREDDINE MD | PHYSICIAN Highest-paid employee | 40 | $885,618 | $0 | $49,701 |
| TODD BANKHEAD | SVP CLINICAL OPS, COO Highest-paid employee | 40 | $862,124 | $0 | $39,293 |
| MICHAEL T WAID | SVP, HEALTH SYSTEM OPS Highest-paid employee | 5 | $836,668 | $0 | $50,757 |
19 more people on this return
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| BRIAN A WHITE | DIRECTOR Trustee or director, Officer | 4 | $0 | $680,964 | $56,036 |
| STEPHAN L LILLIE | SVP & CFO Officer | 10 | $666,639 | $0 | $62,046 |
| J REID MORGAN | ASST SECRETARY Former | 6 | $0 | $412,282 | $57,418 |
| WILLIAM C WARDEN JR | CHAIR Trustee or director, Officer | 15 | $0 | $0 | $0 |
| DONALD E FLOW | VICE CHAIR Trustee or director, Officer | 4 | $0 | $0 | $0 |
| NITA AHUJA MD | DIRECTOR Trustee or director | 4 | $0 | $0 | $0 |
| FELICIA ALLEN | DIRECTOR Trustee or director | 4 | $0 | $0 | $0 |
| DONNA A BOSWELL PHD | DIRECTOR Trustee or director | 4 | $0 | $0 | $0 |
| LEON LEE JONES MD | DIRECTOR Trustee or director | 4 | $0 | $0 | $0 |
| A LEE HERRING | DIRECTOR Trustee or director | 4 | $0 | $0 | $0 |
| A DALE JENKINS | DIRECTOR Trustee or director | 4 | $0 | $0 | $0 |
| ARTHUR A GIBEL | DIRECTOR Trustee or director | 4 | $0 | $0 | $0 |
| MATTHEW A KING | DIRECTOR Trustee or director | 4 | $0 | $0 | $0 |
| MARK E REED | DIRECTOR Trustee or director | 4 | $0 | $0 | $0 |
| STEPHEN L ROBERTSON | DIRECTOR Trustee or director | 4 | $0 | $0 | $0 |
| RICHARD L SHACKELFORD | DIRECTOR Trustee or director | 4 | $0 | $0 | $0 |
| REV FRANK THOMAS | DIRECTOR Trustee or director | 4 | $0 | $0 | $0 |
| JOHN M VANN | DIRECTOR Trustee or director | 4 | $0 | $0 | $0 |
| SHEREE B WATSON | DIRECTOR Trustee or director | 4 | $0 | $0 | $0 |
990 for the year ended December 31, 2023: 35 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| EUGENE A WOODS | CEO ADVOCATE HEALTH Officer | 5 | $16,507,215 | $0 | $2,069,687 |
| JULIE ANN FREISCHLAG MD | CEO OF AHWFB Officer | 5 | $0 | $5,194,069 | $50,088 |
| KEVIN P HIGH MD | PRES, HEALTH SYSTEM (TO 8/31/23) Officer | 20 | $0 | $2,269,909 | $52,075 |
| TERRY G WILLIAMS | FORMER OFFICER (7/31/22) Former | 0 | $1,681,163 | $0 | $281,221 |
| SUSAN R WENTE PHD | DIRECOTR Trustee or director | 5.5 | $0 | $1,473,696 | $325,680 |
| BRADLEY A CLARK | EVP, TREASURER Officer | 4 | $1,431,976 | $0 | $145,795 |
| CATHLEEN WHEATLEY DNP | PRES WFBMC, SVP CNO Highest-paid employee | 40 | $1,142,653 | $0 | $33,711 |
| J MCLAIN WALLACE JR | SVP, GEN COUNSEL & SECRETARY Officer | 5 | $983,574 | $0 | $35,934 |
| RAMI BADREDDINE MD | PHYSICIAN Highest-paid employee | 40 | $924,981 | $0 | $52,238 |
| E EBONY BOULWARE MD | DEAN, WFU SOM Officer | 5 | $0 | $923,292 | $32,149 |
| A MICK FISHER | SVP, CHRO Highest-paid employee | 25 | $887,944 | $0 | $41,049 |
| MICHAEL T WAID | SVP, HLTH SYS OPS Highest-paid employee | 5 | $797,934 | $0 | $57,880 |
| TODD BANKHEAD | SVP CLIN OPS, COO Highest-paid employee | 40 | $786,744 | $0 | $45,733 |
| J REID MORGAN | ASST SECRETARY Officer | 6 | $0 | $690,571 | $108,874 |
| LISA M MARSHALL | VP, CH PHIL OF Officer | 20 | $635,041 | $0 | $36,014 |
| STEPHAN L LILLIE | SVP & CFO Officer | 10 | $572,269 | $0 | $33,957 |
| WILLIAM D SHOWALTER | FORMER OFFICER (5/13/22) Former | 0 | $520,841 | $0 | $29,498 |
| DAVID W ZAAS MD | PRES, HEALTH SYSTEM (FR 9/1/23) Officer | 20 | $0 | $530,164 | $6,594 |
| A DALE JENKINS | DIRECTOR Trustee or director | 4 | $0 | $0 | $0 |
| A LEE HERRING | DIRECTOR Trustee or director | 4 | $0 | $0 | $0 |
| ARTHUR A GIBEL | DIRECTOR (TO 12/31/23) Trustee or director | 4 | $0 | $0 | $0 |
| BRIAN A WHITE | DIRECTOR (FR 9/14/23) Trustee or director | 4 | $0 | $0 | $0 |
| DONALD E FLOW | CHAIR Trustee or director, Officer | 4 | $0 | $0 | $0 |
| DONNA A BOSWELL PHD | DIRECTOR Trustee or director | 4 | $0 | $0 | $0 |
| EDWIN L WELCH JR | DIRECTOR (TO 12/31/23) Trustee or director | 4 | $0 | $0 | $0 |
| FELICIA ALLEN | DIRECTOR Trustee or director | 4 | $0 | $0 | $0 |
| JOHN M VANN | DIRECTOR Trustee or director | 4 | $0 | $0 | $0 |
| LEON LEE JONES MD | DIRECTOR (FR 1/1/23) Trustee or director | 4 | $0 | $0 | $0 |
| MATTHEW A KING | DIRECTOR (TO 12/31/23) Trustee or director | 4 | $0 | $0 | $0 |
| NITA AHUJA MD | DIRECTOR (FR 1/1/23) Trustee or director | 4 | $0 | $0 | $0 |
| RICHARD STICK WILLIAMS | DIRECTOR Trustee or director | 4 | $0 | $0 | $0 |
| RICHARD L SHACKELFORD | DIRECTOR Trustee or director | 4 | $0 | $0 | $0 |
| SHEREE B WATSON | DIRECTOR Trustee or director | 4 | $0 | $0 | $0 |
| STEPHEN L ROBERTSON | DIRECTOR Trustee or director | 4 | $0 | $0 | $0 |
| WILLIAM C WARDEN JR | VICE CHAIR Trustee or director, Officer | 15 | $0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- MEDICAL CENTER BOULEVARD, WINSTONSALEM, NC 27157-0001
- Principal officer (990 for 2024)
- JULIE A FREISCHLAG MD, MEDICAL CENTER BOULEVARD, WINSTONSALEM, NC 27157
- Signed the 990
- BRADLEY A CLARK, TREASURER
- Phone
- (336) 716-4445
- Website
- WWW.WAKEHEALTH.EDU
Mission
SEE SCHEDULE OWAKE FOREST UNIVERSITY BAPTIST MEDICAL CENTER (AT TIMES ALSO REFERRED TO AS THE "MEDICAL CENTER OR "WFUBMC OR "THE FILING ORGANIZATION") IS AN INTEGRAL PART OF ATRIUM HEALTH WAKE FOREST BAPTIST (AT TIMES ALSO REFERRED TO AS "AHWFB"), A PREEMINENT LEARNING HEALTH SYSTEM AND ACADEMIC MEDICAL CENTER OF THE HIGHEST QUALITY WITH BALANCED EXCELLENCE IN PATIENT CARE, RESEARCH AND EDUCATION THAT PROMOTES BETTER HEALTH FOR ALL THROUGH COLLABORATION, EXCELLENCE AND INNOVATION. AHWFB'S MISSION IS TO IMPROVE HEALTH, ELEVATE HOPE AND ADVANCE HEALING - FOR ALL AND ITS VISION IS TO BE THE FIRST AND BEST CHOICE FOR CARE.
Program accomplishments
- WAKE FOREST UNIVERSITY BAPTIST MEDICAL CENTER (WFUBMC) - SEE SCHEDULE OExpenses $23,373,973 · grants $20,000,000 · revenue $1,082,844
- WAKE FOREST HEALTH NETWORK, LLC (WFHN) - SEE SCHEDULE OExpenses $178,935,721 · revenue $136,152,692
- WAKE AIR CARE, LLC (AIRCARE) - SEE SCHEDULE OExpenses $14,196,489 · revenue $16,360,133
- HPCA LLC AND FORSYTH COMMUNITY PCC, LLC - SEE SCHEDULE OExpenses $193,546 · revenue $54,879
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
- 51-0190238
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Supporting organization, Type I
- Donations deductible (Pub 78)
- Supporting organization, 50% limit
- Exempt since
- 1976
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Health care (E120)
- Assets (IRS master file)
- $648,834,754
- Income (IRS master file)
- $173,910,562
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $172,627,029 | $230,304,142 | $648,834,754 | IRS |
| 990-T | December 2024 | – | – | – | IRS |
| 990 | December 2023 | $163,386,699 | $197,909,707 | $569,235,159 | XML |
| 990-T | December 2023 | – | – | – | IRS |
| 990 | December 2022 | $169,430,781 | $184,950,341 | $507,015,665 | IRS |
| 990-T | December 2022 | – | – | – | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990-T | December 2021 | – | – | – | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990-T | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | 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 51-0190238).
Questions about WAKE FOREST UNIVERSITY BAPTIST MEDICAL CENTER
- What is the EIN of WAKE FOREST UNIVERSITY BAPTIST MEDICAL CENTER?
- The employer identification number (EIN) of WAKE FOREST UNIVERSITY BAPTIST MEDICAL CENTER is 51-0190238.
- Is WAKE FOREST UNIVERSITY BAPTIST MEDICAL CENTER tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1976.
- Are donations to WAKE FOREST UNIVERSITY BAPTIST MEDICAL CENTER tax-deductible?
- Yes. It is listed in IRS Publication 78 (Supporting organization, 50% limit).
- Which annual return does WAKE FOREST UNIVERSITY BAPTIST MEDICAL CENTER 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 UNIVERSITY BAPTIST MEDICAL CENTER 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 UNIVERSITY BAPTIST MEDICAL CENTER 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 UNIVERSITY BAPTIST MEDICAL CENTER?
- The 990 for the year ended December 31, 2024 names JULIE A FREISCHLAG MD.
- Who are the officers and directors of WAKE FOREST UNIVERSITY BAPTIST MEDICAL CENTER?
- The 990 for the year ended December 31, 2024 lists 34 people; 11 received compensation from the organization, the highest $22,870,198 (EUGENE A WOODS, CEO ADVOCATE HEALTH).
- How much revenue does WAKE FOREST UNIVERSITY BAPTIST MEDICAL CENTER have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $172,627,029, expenses of $230,304,142 and total assets of $648,834,754 at year end.
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All nonprofits in WINSTONSALEM · North Carolina · Health care