Atrium Health Wake Forest Baptist
Legal name: Wake Forest University Health Sciences
Nonprofit profile at a glance
- EIN
- 223849199
- IRS 990 coverage
- 2009–2024
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2024, Form 990-T 2024
- Location
- Winston-Salem, NC, United States
- Phone
- 3367164445
- Rating
- 86
- Verdict
- STRONG
- Rating confidence
- Standard
- Sector
- Graduate, Professional Schools (Separate Entities)
- Affiliation
- Christianity
Reported finances
- Revenue
- $1,713,703,683
- Expenses
- $1,611,375,512
- Assets
- $2,186,649,419
- Liabilities
- $1,165,536,588
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
35 people listed
Executive titles in this filing
- JULIE ANN FREISCHLAG MD (DIRECTOR, CEO AHWFB)
- DAVID ZAAS MD (PRESIDENT HEALTH SYSTEM)
Highest reported compensation
- JULIE ANN FREISCHLAG MD (DIRECTOR, CEO AHWFB): $7,634,720 total reported compensation
- BRADLEY A CLARK (EVP, TREASURER): $2,801,715 total reported compensation
- TERRY G WILLIAMS (FORMER OFFICER): $2,449,668 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
From discovery to everyday moments, we're redefining care. Atrium Health, part of Advocate Health, is redefining how, when and where care is delivered. We are rethinking methods of care delivery to reach more people and bringing human kindness to every step of their health journey. Our 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.
What it reported doing in 2024
Medical research, general/other: research comprised of basic science clinical research and population based studies and is centered on the acquisition and advancement of scientific knowledge and new technology and their transfer to industry and the patient in order to prevent and treat disease and promote health (1,309 grants).
Operating model
- Revenue model
- Earned-program. 73% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Direct operator. The filing allocates 95% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
- Includes noncash contributions: Reported contributions include donated property or goods.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing reports few safeguards for money sent abroad and total assets are small relative to annual expenses; liquid coverage is unknown.
Rating breakdown
- Financial Efficiency: 92
- Transparency & Controls: 74
- Accountability: 94
- Sustainability: 54
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 91.5%; rating input score 91
- Program expense ratio: 95.4%; rating input score 95
- Fundraising efficiency: $200.68 raised per $1 spent on fundraising; rating input score 90; 90th percentile among comparable filings
Transparency & Controls
- Consistency checks: 94.4%; rating input score 94; 31st percentile among comparable filings
- Pay-setting controls: 5 of 6 controls in place; rating input score 83
- Compensation committee: Pass
- Independent consultant: Pass
- Other Form 990s reviewed: Missing
- Written employment contract: Pass
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: 0 of 8 controls in place; rating input score 0
- Claims monitoring procedures: Fail
- Requires narrative reports: Fail
- Conducts field audits: Fail
- May suspend future funding: Fail
- Requires financial reports: Fail
- Conducts site visits: Fail
- Requires grant agreements: Fail
- May require repayment: Fail
- Grant itemization coverage: 75%; rating input score 75; 16th percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Yes; rating input score 100
Accountability
- Independent voting board: 89.5%; rating input score 89; 37th percentile among comparable filings
- Governance controls: 9 of 9 controls in place; rating input score 100
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 6%; rating input score 60; 60th percentile among comparable filings
- Total-asset coverage ratio: 1.36; rating input score 50; 50th percentile among comparable filings
- Liabilities to assets ratio: 0.53; rating input score 33; 33rd percentile among comparable filings
- Officer compensation ratio: 1.6%; rating input score 63; 63rd percentile among comparable filings
Growth
- Program expense growth: 6.5% per year; rating input score 100; 53rd percentile among comparable filings
- Revenue growth: 6% per year; rating input score 100; 52nd percentile among comparable filings
- Asset growth: 5.6% per year; rating input score 100; 41st percentile among comparable filings
Details
- What they do: 2 programs and campaigns described on the official site · 1 operating location identified
- Where the money goes: 91.5% of revenue deployed · 95.4% of spending went to programs
- Governance: 17 of 19 board members independent · 9 of 9 filing controls reported
- Programs: 3 filed program accomplishments · $1.5B in reported program spending
- Leadership: top reported pay $7.6M · 35 people listed · 5 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $201.6M reported
- Consistency: 46 of 47 current checks pass · 1 finding to review
- Schedules: 13 filed schedules · includes major donors, foreign activity, grants, executive pay, and related organizations
- Filing history: 15 filing years from 2009 to 2024
- Contacts: How to reach this organization
- Money network: 18 filed money-flow records
- Related organizations: 36 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 — Transparency & Controls: Foreign activity oversight: 8 of 8 not reported.
- Review — Sustainability: Total-asset coverage ratio scored 50/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 33/100.
- Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.