The Medical Foundation of Wake Forest University Health Sciences and North Car

Nonprofit profile at a glance

EIN
566036688
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Winstonsalem, NC, USA
Phone
3367164445
Rating confidence
Limited
Sector
Health Support Services

Reported finances

Revenue
$157,650
Expenses
$0
Assets
$12,821,831
Liabilities
$59,623

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

3 people listed

Executive titles in this filing

  • JULIE ANN FREISCHLAG MD (TRUSTEE & PRESIDENT)

Highest reported compensation

  • JULIE ANN FREISCHLAG MD (TRUSTEE & PRESIDENT): $7,634,720 total reported compensation
  • BRADLEY A CLARK (TREASURER): $2,933,092 total reported compensation
  • J MCLAIN WALLACE JR (SECRETARY): $1,689,329 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

See schedule oto render aid and assistance to wake forest university health sciences (wfuhs) and North Carolina baptist hospital (ncbh) in their pursuits by approved methods for the promotion of medical science and medical knowledge, the publication and distribution of literature, the education and training of physicians, nurses, technicians, and scientists for practice or employment within North Carolina and elsewhere, and improve the quality of training and service rendered.

What it reported doing in 2024

To render aid and assistance to wfuhs and ncbh in their pursuits by approved methods for the promotion of medical science and medical knowledge, the publication and distribution of literature, the education and training of physicians, nurses, technicians, and scientists for practice or employment within North Carolina and elsewhere, and improve the quality of training and service rendered.

Operating model

Revenue model
No positive adjusted resources. The filing reports no positive adjusted operating resources.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 60
  • Accountability: 32
  • Sustainability: 6
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 7th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: Limited
  • Total-asset coverage ratio: Limited
  • Liabilities to assets ratio: 0; rating input score 50; 50th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: -10.3% per year; rating input score 0; 10th percentile among comparable filings
  • Revenue growth: -10.2% per year; rating input score 0; 6th percentile among comparable filings
  • Asset growth: 3% per year; rating input score 100; 38th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 0 of 1 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $7.6M · 3 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 13 of 13 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 13 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 2 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Accountability: Independent voting board scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Sustainability: Liabilities to assets ratio scored 50/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.