2024-11-15T05:53:20-06:00 2023-12-31 990 2023-01-01 061818498 INNOVATION QUARTER INNO 3367164445 MEDICAL CENTER BOULEVARD WINSTONSALEM NC 27157 TERRY L HALES JR PRESIDENT 3367164445 2024-11-15 0 2023 2024-10-15 13:58:12Z TERRY L HALES JR MEDICAL CENTER BOULEVARD WINSTONSALEM NC 27157 68714 0 X WWW.INNOVATIONQUARTER.COM X 2007 NC TO DEVELOP/MANAGE A RESEARCH PARK TO PROVIDE RESEARCH SPACE AND REVITALIZE DOWNTOWN WINSTON-SALEM. 4 0 0 4 0 0 0 0 0 68714 0 0 0 0 0 68714 0 0 0 0 215798 890750 0 0 0 2572896 2065220 2788694 2955970 -2788694 -2887256 81245 87638 21948686 24842335 -21867441 -24754697 X SEE SCHEDULE OTO SERVE AS THE UMBRELLA ORGANIZATION OF THE WAKE FOREST UNIVERSITY HEALTH SCIENCES (WFUHS) AFFILIATED RESEARCH PARK ENTITIES, OVERSEEING ALL WFUHS ACTIVITIES INVOLVING THE WAKE FOREST INNOVATION QUARTER, INCLUDING LAND ACQUISITION, MASTER PLANNING, AND PARK DEVELOPMENT. 0 0 2771489 68714 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 CY23, 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 FESTIVAL 2771489 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 4 0 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 0 0 0 X ERIN KOEWING 3367164445 MEDICAL CENTER BOULEVARD WINSTONSALEM NC 27157 X SUSAN R WENTE PHD DIRECTOR & CHAIR 1.00 39.00 X X 0 1473696 325680 J MCLAIN WALLACE JR DIRECTOR & TREASURER 0.50 39.50 X X 983574 0 35934 J REID MORGAN DIRECTOR & SECRETARY (TO 6/30/23) 0.50 39.50 X X 0 690571 108874 ANITA CONRAD ASST SECRETARY (TO 10/31/23) 1.00 39.00 X X 0 218902 42998 TERRY L HALES JR DIRECTOR & PRESIDENT 2.00 38.00 X X 0 867249 56067 983574 3250418 569553 0 0 1 1 PLEASANTS PROPERTIES 575 N PATTERSON AVE STE 550 WINSTON SALEM NC 27101 MANAGEMENT SERVICES 426552 BLAKLEY LANDSCAPE SERVICES INC 274 BAITY RD MOCKSVILLE NC 27028 LAWN CARE SERVICES 251210 ELEPHANT IN THE ROOM LLC 301 N MAIN ST SUITE 2100 WINSTON SALEM NC 27101 INTERIOR DESIGN 154047 BELLOMY RESEARCH INC 175 SUNNYNOLL CT WINSTON SALEM NC 27106 RESEARCH CONSULTING 151800 4 SPARQ PROGRAM 813910 68714 68714 68714 68714 68714 0 0 809354 723142 86212 81396 71692 9704 782688 731387 51301 9811 9811 149042 139273 9769 541369 541369 103954 83647 20307 36794 29606 7188 432447 432447 3287 3287 5828 5828 2955970 2771489 184481 0 64578 70971 16667 16667 81245 87638 21948686 24842335 21948686 24842335 X -21867441 -24754697 -21867441 -24754697 81245 87638 -2887256 0 X 0 1 X 1 0 X X X 1 WFU HEALTH SCIENCES 223849199 2 1 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 INTERCOMPANY PAYABLE 24842335 24842335 X PART X, LINE 2: THE ORGANIZATION HAS EVALUATED UNCERTAIN TAX POSITIONS FOR ITS CALENDAR YEARS ENDED DECEMBER 31, 2023 AND 2022, INCLUDING A QUANTIFICATION OF TAX RISK IN AREAS SUCH AS UNRELATED BUSINESS TAXABLE INCOME AND THE TAXATION OF ITS JOINT VENTURES. THIS EVALUATION DID NOT HAVE A MATERIAL EFFECT ON THE ORGANIZATION'S FINANCIAL STATEMENTS FOR CALENDAR YEARS ENDED DECEMBER 31, 2023 AND 2022. 0 1 0 0 0 0 0 0 0 SUSAN R WENTE PHD DIRECTOR & CHAIR 0 1041165 0 358750 0 73781 0 250725 0 74955 0 1799376 0 0 J MCLAIN WALLACE JR DIRECTOR & TREASURER 611075 0 228185 0 144314 0 20425 0 15509 0 1019508 0 114290 0 J REID MORGAN DIRECTOR & SECRETARY (TO 6/30/23) 0 462733 0 48000 0 179838 0 73575 0 35299 0 799445 0 112500 ANITA CONRAD ASST SECRETARY (TO 10/31/23) 0 218267 0 0 0 635 0 22223 0 20775 0 261900 0 0 TERRY L HALES JR DIRECTOR & PRESIDENT 0 569946 0 193050 0 104253 0 22632 0 33435 0 923316 0 79381 PART I, LINE 4B CERTAIN DIRECTORS AND OFFICERS OF THE FILING ORGANIZATION PARTICIPATED IN AND/OR RECEIVED PAYMENTS FROM A NON-QUALIFIED DEFERRED COMPENSATION PLAN (RESTORATION OR SERP). THE DETERMINATION OF THE PAYMENT AMOUNT FROM THE NON-QUALIFIED DEFERRED COMPENSATION PLANS FOLLOWED THE EMPLOYMENT ORGANIZATION'S COMPENSATION PROCEDURES. THE FOLLOWING DIRECTORS AND OFFICERS RECEIVED PAYMENTS FROM NON-QUALIFIED DEFERRED COMPENSATION PLANS IN THEIR CALENDAR YEAR 2023 COMPENSATION: TERRY L. HALES, JR. 79,381 J. MCLAIN WALLACE, JR. 114,290 J. REID MORGAN 112,500 FORM 990, PART VII, LINE 5 - COMPENSATION FROM UNRELATED ORGANIZATIONS J. MCLAIN WALLACE, JR. WAS COMPENSATED BY WAKE FOREST UNIVERSITY BAPTIST MEDICAL CENTER, AN UNRELATED BUT AFFILIATED ORGANIZATION, FOR SERVICES PERFORMED AS AN OFFICER OF THE ORGANIZATION. SEE PART VII AND SCHEDULE J, PART II FOR HIS COMPENSATION. FORM 990, PART VI, SECTION A, LINE 6 THE SOLE MEMBER OF THE FILING ORGANIZATION IS WAKE FOREST UNIVERSITY HEALTH SCIENCES. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS OF THE BOARD OF DIRECTORS OF THE FILING ORGANIZATION WILL BE APPOINTED BY ITS SOLE MEMBER, WAKE FOREST UNIVERSITY HEALTH SCIENCES, OR ITS EXECUTIVE COMMITTEE, UNLESS OTHERWISE PROVIDED BY SUCH GOVERNING BODY OR COMMITTEE. FORM 990, PART VI, SECTION A, LINE 7B THE MEMBERS OF THE BOARD OF DIRECTORS OF THE FILING ORGANIZATION WILL BE APPOINTED BY THE GOVERNING BODY OF WAKE FOREST UNIVERSITY HEALTH SCIENCES (WFUHS) OR ITS EXECUTIVE COMMITTEE, UNLESS OTHERWISE PROVIDED BY SUCH GOVERNING BODY OR COMMITTEE. THE GOVERNING BODY (I.E., BOARD OF DIRECTORS) OF WFUHS MAY REMOVE ANY DIRECTOR OF THE CORPORATION AT ANY TIME, WITH OR WITHOUT CAUSE. AN AMENDMENT TO THE FILING ORGANIZATION'S GOVERNING DOCUMENTS (ARTICLES OF INCORPORATION AND BYLAWS) WILL BE EFFECTIVE ONLY UPON ITS APPROVAL BY THE BOARD OF DIRECTORS OF WFUHS. FORM 990, PART VI, SECTION B, LINE 11B THE FILING ORGANIZATION'S BOARD OF DIRECTORS RECEIVES A COPY OF THE FORM 990 WITH SUFFICIENT TIME TO PERMIT REVIEW, COMMENT, AND QUESTIONS PRIOR TO ITS FILING. IF MODIFICATIONS ARE REQUIRED FOLLOWING SUCH REVIEW AND COMMENT, THE REVISED FORM 990 IS REDISTRIBUTED PRIOR TO ITS FILING WITH THE IRS, ALONG WITH A REPORT NOTING THE MODIFICATIONS. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION REQUIRES ITS OFFICERS AND DIRECTORS TO ANNUALLY REVIEW THE CONFLICT OF INTEREST POLICY AND DETERMINE ANY POTENTIAL CONFLICTS OF INTEREST. ANY POTENTIAL CONFLICTS NOTED IN THE QUESTIONNAIRE ARE REVIEWED BY A STANDING COMMITTEE FOR APPROPRIATE RESOLUTION. ALL MEMBERS OF THE BOARD OF DIRECTORS ARE REQUIRED TO DETERMINE AND REPORT ANNUALLY, AND AS THEY ARISE, ANY POTENTIAL CONFLICTS OF INTEREST TO THE SECRETARY OF THE BOARD OF DIRECTORS. THE RESOLUTION OF POTENTIAL AND ACTUAL CONFLICTS IS SUBJECT TO THE APPROVAL OF THE CHAIR OF THE BOARD. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION PAYS NO COMPENSATION TO OFFICERS OR TRUSTEES; AS THE ORGANIZATION HAS NO EMPLOYEES, IT DOES NOT PAY ANY COMPENSATION TO ANY KEY EMPLOYEES. CERTAIN OFFICERS AND DIRECTORS OF THE FILING ORGANIZATION ARE EMPLOYED BY A RELATED ORGANIZATION, WAKE FOREST UNIVERSITY HEALTH SCIENCES (WFUHS) AND BY AN UNRELATED BUT AFFILIATED ORGANIZATION, WAKE FOREST UNIVERSITY BAPTIST MEDICAL CENTER (WFUBMC) AND THE DETERMINATION OF THE COMPENSATION OF SUCH INDIVIDUALS IS CONDUCTED VIA THE PROCESS UTILIZED BY THE WFUBMC BOARD, AS FOLLOWS: THE ADVOCATE HEALTH COMPENSATION AND BENEFITS COMMITTEE ("THE COMMITTEE") OF THE ADVOCATE HEALTH, INC. BOARD OF DIRECTORS ("THE BOARD") HAS AUTHORITY AS THE BOARD DELEGATES TO IT, FOR THE REVIEW AND APPROVAL OF EXECUTIVE COMPENSATION. THE COMMITTEE RELIES UPON AN EXTERNAL, INDEPENDENT COMPENSATION CONSULTANT RETAINED DIRECTLY BY THE COMMITTEE TO PROVIDE THIRD-PARTY COMPENSATION COMPARABILITY DATA FOR EVALUATING THE COMPETITIVENESS AND REASONABLENESS OF EXECUTIVE COMPENSATION AND BENEFITS PROGRAMS RELATIVE TO MARKET PRACTICES FOR SIMILARLY SITUATED HEALTHCARE ORGANIZATIONS. IN EVALUATING COMPENSATION, THE COMMITTEE FOLLOWS CORPORATE GOVERNANCE BEST PRACTICE SUCH AS ADHERENCE TO THE COMPANY'S EXECUTIVE COMPENSATION PHILOSOPHY AND REVIEW PROCESSES; PROCESSES TO ENSURE COMMITTEE MEMBER AND COMPENSATION CONSULTANT INDEPENDENCE; DATA FROM HEALTHCARE ORGANIZATIONS OF COMPARABLE SIZE, STRUCTURE, AND COMPLEXITY; AND ESTABLISHMENT OF THE REBUTTABLE PRESUMPTION OF REASONABLENESS, PER IRS GUIDELINES. MINUTES OF THE DELIBERATIONS OF THE COMMITTEE ARE MAINTAINED IN THE ADVOCATE HEALTH, INC. LEGAL DEPARTMENT. THREE OF THE FILING ORGANIZATION'S OFFICERS AND DIRECTORS ARE COMPENSATED BY A RELATED ORGANIZATION, WAKE FOREST UNIVERSITY (WFU), AND THEIR COMPENSATION IS REVIEWED AND APPROVED IN ACCORDANCE WITH WFU'S SIMILAR PROCEDURES. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S ARTICLES OF INCORPORATION ARE AVAILABLE TO THE PUBLIC ON REQUEST AND ARE AVAILABLE ON THE WEBSITE OF THE NORTH CAROLINA SECRETARY OF STATE. THE ORGANIZATION'S BYLAWS ARE NOT PUBLISHED, BUT PROVISIONS FROM THE BYLAWS ARE INCLUDED AS NECESSARY IN THE ORGANIZATION'S POLICIES, AND ARE ATTACHED TO THE FORM 1023 FILED FOR THE ORGANIZATION WITH THE IRS, WHICH IS PUBLICLY AVAILABLE. THE CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC ON REQUEST. PART VII, SECTION A, COLUMN B, HOURS A MEDICAL CENTER INTEGRATION AGREEMENT (MCIA) WAS ORIGINALLY ENTERED INTO IN 2010 AMONG FOUR PARTIES: WAKE FOREST UNIVERSITY (WFU), WAKE FOREST UNIVERSITY HEALTH SCIENCES (WFUHS), WAKE FOREST UNIVERSITY BAPTIST MEDICAL CENTER (WFUBMC), AND NORTH CAROLINA BAPTIST HOSPITAL (NCBH). PURSUANT TO THE TERMS OF THE ORIGINAL MCIA, THE OPERATION OF WFUHS AND NCBH, AND ALL OF THE RESPECTIVE SUBSIDIARIES OF EACH, IS DELEGATED TO WFUBMC. ADDITIONALLY, THE CORPORATE OFFICERS OF WFUBMC GENERALLY SERVE AS THE CORPORATE OFFICERS OF WFUHS AND NCBH. THE MCIA WAS REVISED AND RESTATED IN 2020 TO DELEGATE OVERSIGHT AND MANAGEMENT AUTHORITY OVER WFUBMC TO ATRIUM HEALTH, INC. (AHI). CERTAIN DIRECTORS AND/OR CORPORATE OFFICERS OF WFUHS, NCBH, & WFUBMC ALSO SERVE AS DIRECTORS OR CORPORATE OFFICERS OF AHI. WFU AND WFUHS ARE ORGANIZATIONS RELATED TO THE FILING ORGANIZATION. NCBH, WFUBMC, AND AHI ARE ORGANIZATIONS UNRELATED TO THE FILING ORGANIZATION. THUS, CERTAIN DIRECTORS AND OFFICERS OF THE FILING ORGANIZATION DEVOTE HOURS TO RELATED ORGANIZATIONS (WFU & WFUHS) AND UNRELATED ORGANIZATIONS (WFUBMC, NCBH, AND AHI). WAKE FOREST UNIVERSITY HEALTH SCIENCES MEDICAL CENTER BOULEVARD WINSTONSALEM NC 27157 223849199 HEALTHCARE, EDUCATION, RESEARCH NC 501(C)(3) LINE 2 WAKE FOREST UNIVERSITY 0 WAKE FOREST UNIVERSITY P O BOX 7201 WINSTONSALEM NC 27109 560532138 EDUCATION NC 501(C)(3) LINE 2 N/A 0 WAKE FOREST INNOVATION QUARTER CDC MEDICAL CENTER BOULEVARD WINSTONSALEM NC 27157 200177581 RESEARCH PARK DEVELOPMENT NC 501(C)(3) LINE 12A, I WAKE FOREST UNIVERSITY HEALTH SCIENCES 0 WAKE FOREST INNOVATION QUARTER DEV CO MEDICAL CENTER BOULEVARD WINSTONSALEM NC 27157 562094067 RESEARCH PARK DEVELOPMENT NC 501(C)(6) WAKE FOREST UNIVERSITY HEALTH SCIENCES 0 WAKE FOREST UNIVERSITY HEALTH SCIENCES GROUP RETURN MEDICAL CENTER BOULEVARD WINSTONSALEM NC 27157 900222618 HEALTHCARE NC 501(C)(3) LINE 12A, I WAKE FOREST UNIVERSITY HEALTH SCIENCES 0 WAKE FOREST EMERGENCY PROVIDERS MEDICAL CENTER BOULEVARD WINSTONSALEM NC 27157 561903275 HEALTHCARE NC 501(C)(3) LINE 3 WAKE FOREST UNIVERSITY HEALTH SCIENCES 0 CHILDRESS INSTITUTE FOR PEDIATRIC TRAUMA MEDICAL CENTER BOULEVARD WINSTONSALEM NC 27157 463674691 HEALTHCARE RESEARCH NC 501(C)(3) LINE 7 WAKE FOREST UNIVERSITY HEALTH SCIENCES 0 REGENMED DEVELOPMENT ORGANIZATION MEDICAL CENTER BOULEVARD WINSTONSALEM NC 27157 202710571 HEALTHCARE RESEARCH NC 501(C)(3) LINE 7 WAKE FOREST UNIVERSITY HEALTH SCIENCES 0 VERGER FUND II LLC 751 W FOURTH STREET SUITE 410 WINSTON SALEM NC 27101 352514227 INVESTMENT NC N/A 0 0 WAKE FOREST TECHONOLOGY DEVELOPMENT PROGRAM LP 2520 MERIDIAN PARKWAY DURHAM NC 27713 475437596 INVESTMENT NC N/A 0 0 WAKE FOREST AMBULATORY VENTURES LLC MEDICAL CENTER BOULEVARD WINSTON SALEM NC 27157 820777206 HEALTHCARE NC N/A 0 0 NORTH DISTRICT OWNERS ASSOCIATION MEDICAL CENTER BLVD WINSTON SALEM NC 27157 471128865 PROPERTY OWNERS ASSOCIATION NC N/A C 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 1