2025-11-17T05:43:49-06:00 2024-12-31 990 2024-01-01 566036688 THE MEDICAL FOUNDATION OF WAKE FOREST UNIVERSITY HEALTH SCIENCES AND NORTH CAR MEDI 3367164445 MEDICAL CENTER BOULEVARD WINSTONSALEM NC 27157 BRADLEY A CLARK TREASURER 3367164445 2025-11-12 0 2024 2025-03-06 01:10:19Z JULIE A FREISCHLAG MD MEDICAL CENTER BOULEVARD WINSTONSALEM NC 27157 262496 0 X N/A X 1952 NC TO AID AND PROMOTE, BY FINANCIAL ASSISTANCE AND OTHERWISE, ALL TYPES OF EDUCATION, SERVICE, AND RESEARCH IN THE FIELDS OF PREVENTIVE AND CURATIVE MEDICINE. 1 0 0 3 0 0 0 0 0 0 167869 262496 -96007 -104846 71862 157650 0 0 0 0 0 0 0 0 0 0 0 0 0 71862 157650 12496242 12821831 59623 59623 12436619 12762208 X 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. 0 0 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. 1 0 0 0 0 0 0 0 0 1 1 0 1 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 1 0 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 0 0 0 X ATRIUM HEALTH WAKE FOREST BAPTIST 3367164445 MEDICAL CENTER BLVD WINSTONSALEM NC 27157 X BRADLEY A CLARK TREASURER 0.10 39.90 X X 2513703 0 419389 JULIE ANN FREISCHLAG MD TRUSTEE & PRESIDENT 0.10 39.90 X X 0 7594629 40091 J MCLAIN WALLACE JR SECRETARY 0.10 39.90 X 1659102 0 30227 4172805 7594629 489707 0 0 1 1 0 47326 47326 104846 -104846 -104846 -104846 215170 0 215170 215170 215170 157650 0 0 157650 0 0 0 0 3658421 3788409 203390 59931 2914481 864289 2056643 2050192 6577788 6923299 12496242 12821831 59623 59623 59623 59623 X 12436619 12762208 12436619 12762208 12496242 12821831 157650 167939 0 X 0 1 X 1 0 X X 2 WFU HEALTH SCIENCES 223849199 2 1 0 0 NC BAPTIST HOSPITAL 560552787 3 1 0 0 2 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 6592006 684058 352764 6923299 6470406 463349 341749 6592006 7401849 -607272 324171 6470406 6985182 575915 159248 7401849 5748753 1557500 321071 6985182 1.00000 0 1 1 2000721 2000721 913760 864289 49471 2050192 VERGER INVESTMENT FUND 6923299 F 6923299 0 ANNUITY PAYABLE 48633 SECURITY DEPOSITS 10990 59623 X PART V, LINE 4: ENDOWMENT FUNDS PROVIDE AID AND ASSISTANCE TO WAKE FOREST UNIVERSITY HEALTH SCIENCES AND TO NORTH CAROLINA BAPTIST HOSPITAL IN THE EDUCATION AND TRAINING OF PHYSICIANS, NURSES, TECHNICIANS, AND SCIENTISTS FOR PRACTICE OR EMPLOYMENT. PART X, LINE 2: THE ORGANIZATION HAS EVALUATED UNCERTAIN TAX POSITIONS FOR ITS CALENDAR YEARS ENDED DECEMBER 31, 2024 AND 2023, 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, 2024 AND 2023. 0 1 0 0 0 0 0 0 0 JULIE ANN FREISCHLAG MD TRUSTEE & PRESIDENT 0 2476070 0 4358126 0 760433 0 19092 0 20999 0 7634720 0 688380 BRADLEY A CLARK TREASURER 1697429 0 713004 0 103270 0 390217 0 29172 0 2933092 0 80691 0 J MCLAIN WALLACE JR SECRETARY 599511 0 371024 0 688567 0 22898 0 7329 0 1689329 0 682207 0 PART I, LINE 4B CERTAIN TRUSTEES 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 TRUSTEE AND OFFICER RECEIVED PAYMENTS FROM A NON-QUALIFIED DEFERRED COMPENSATION PLAN DURING THE CURRENT TAX YEAR: JULIE A. FREISCHLAG, MD 688,380 BRADLEY A. CLARK 362,617 J. MCLAIN WALLACE, JR. 682,207 FORM 990, PART VII, LINE 5 COMPENSATION FROM UNRELATED ORGANIZATIONS BRADLEY A. CLARK WAS COMPENSATED BY THE CHARLOTTE-MECKLENBURG HOSPITAL AUTHORITY ("CMHA", DOING BUSINESS AS ATRIUM HEALTH), AN AFFILIATED BUT UNRELATED ORGANIZATION, FOR SERVICES RENDERED TO THE ORGANIZATION. SEE PART VII AND SCHEDULE J FOR HIS COMPENSATION. J. MCLAIN WALLACE, JR. WAS COMPENSATED BY WAKE FOREST UNIVERSITY BAPTIST MEDICAL CENTER, AN AFFILIATED BUT UNRELATED ORGANIZATION, FOR SERVICES RENDERED TO THE ORGANIZATION. SEE PART VII AND SCHEDULE J FOR HIS COMPENSATION. FORM 990, PART VI, SECTION A, LINE 6 THE FILING ORGANIZATION HAS TWO MEMBERS, WAKE FOREST UNIVERSITY HEALTH SCIENCES AND NORTH CAROLINA BAPTIST HOSPITAL. EACH OF THE MEMBERS IS ALSO A NORTH CAROLINA NONPROFIT CORPORATION. FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF TRUSTEES OF THE FILING ORGANIZATION IS ELECTED BY THE ORGANIZATION'S TWO MEMBERS, WAKE FOREST UNIVERSITY HEALTH SCIENCES AND NORTH CAROLINA BAPTIST HOSPITAL. FORM 990, PART VI, SECTION B, LINE 11B THE FILING ORGANIZATION'S BOARD OF TRUSTEES 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, THE REVISED FORM 990 IS REDISTRIBUTED PRIOR TO ITS FILING WITH THE IRS, ALONG WITH A SUMMARY OF THE MODIFICATIONS. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION QUERIES ITS BOARD MEMBERS AND OFFICERS WITH RESPECT TO POTENTIAL CONFLICTS OF INTEREST ANNUALLY, AND AS THEY ARISE. ANY POTENITAL CONFLICTS DISCLOSED ARE REVIEWED AND MANAGED IN ACCORDANCE WITH THE ORGANIZATION'S CONFLICTS OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINE 15 THE FILING ORGANIZATION DOES NOT PAY COMPENSATION TO TRUSTEES FOR THEIR EFFORT DEVOTED TO THE ORGANIZATION. CERTAIN OFFICERS AND TRUSTEES ARE EMPLOYED BY A RELATED ORGANIZATION, WAKE FOREST UNIVERSITY HEALTH SCIENCES (WFUHS) AND BY UNRELATED BUT AFFILIATED ORGANIZATIONS, WAKE FOREST UNIVERSITY BAPTIST MEDICAL CENTER (WFUBMC) AND CHARLOTTE MECKLENBURG HOSPITAL AUTHORITY (CMHA) 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. 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. WFUHS AND NCBH ARE ORGANIZATIONS RELATED TO THE FILING ORGANIZATION. WFU, WFUBMC, AND AHI ARE ORGANIZATIONS UNRELATED TO THE FILING ORGANIZATION. THUS, CERTAIN DIRECTORS AND OFFICERS OF THE FILING ORGANIZATION DEVOTE HOURS TO RELATED ORGANIZATIONS (NCBH & WFUHS) AND UNRELATED ORGANIZATIONS (WFUBMC, WFU, 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 NORTH CAROLINA BAPTIST HOSPITAL MEDICAL CENTER BOULEVARD WINSTONSALEM NC 27157 560552787 HEALTHCARE NC 501(C)(3) LINE 3 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 1 0