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TIN: 56-0532138
SCHEDULE R
(Form 990)
Department of the Treasury
Internal Revenue Service
Related Organizations and Unrelated Partnerships
Complete if the organization answered "Yes" on Form 990, Part IV, line 33, 34, 35b, 36, or 37.
Attach to Form 990.
Go to
www.irs.gov/Form990
for instructions and the latest information.
OMB No. 1545-0047
20
19
Open to Public Inspection
Name of the organization
WAKE FOREST UNIVERSITY
Employer identification number
56-0532138
Part I
Identification of Disregarded Entities.
Complete if the organization answered "Yes" on Form 990, Part IV, line 33.
(a)
Name, address, and EIN (if applicable) of disregarded entity
(b)
Primary activity
(c)
Legal domicile (state
or foreign country)
(d)
Total income
(e)
End-of-year assets
(f)
Direct controlling
entity
(1)
Deacon Blvd Holdings I LLC
PO Box 7201
WinstonSalem
,
NC
27109
26-2203211
Real Estate Holding - Currently Inactive
NC
NA
(2)
Creative Cafe LLC
PO Box 7201
WinstonSalem
,
NC
27109
26-3700428
No Operations
NC
NA
(3)
Wake Forest Advantage-WF Ed Cons Nanjing
PO Box 7201
Winston Salem
,
NC
27109
46-2754916
Int'l study program holding China WFOE
NC
225,169
115,766
NA
(4)
Verger Fund I LLC
751 W Fourth Street Suite 410
Winston Salem
,
NC
27101
56-0532138
Holding Verger Capital Fund
DE
43,999,225
786,258,760
NA
(5)
Wake Forest University Spain SL
C/Toro 84-90 Oficina Izquierda
Salamanca
,
Salamanca
37120
SP
56-0532138
study abroad educ. activities
SP
737,894
766,930
NA
(6)
Wake Forest University Chile SpA
Santa Lucia 280 Oficina 12
Santiago
,
Santiago
CI
56-0532138
Study Abroad
CI
82,204
775
NA
Part II
Identification of Related Tax-Exempt Organizations.
Complete if the organization answered "Yes" on Form 990, Part IV, line 34 because it had one or more related tax-exempt organizations during the tax year.
(a)
Name, address, and EIN of related organization
(b)
Primary activity
(c)
Legal domicile (state
or foreign country)
(d)
Exempt Code section
(e)
Public charity status
(if section 501(c)(3))
(f)
Direct controlling
entity
(g)
Section 512(b)(13) controlled entity?
Yes
No
(1)
Wake Forest University Foundation
PO Box 7201
WinstonSalem
,
NC
27109
56-2038193
Real Estate Holding and Management
NC
501(c)(3)
Line 12a, I
Wake Forest University
Yes
(2)
Wake Forest University Health Sciences
Medical Center Blvd
WinstonSalem
,
NC
27157
22-3849199
Medical Education, research and patient care
NC
501(c)(3)
Line 2
Wake Forest University
Yes
(3)
Wake Forest University Development Fndn
PO Box 7201
WinstonSalem
,
NC
27109
56-2038194
Management/Sale of charitable real property donations
NC
501(c)(3)
Line 12a, I
Wake Forest University
Yes
(4)
Reynolda House Inc
PO Box 7287
WinstonSalem
,
NC
27109
56-0810676
Museum of American Art
NC
501(c)(3)
Line 7
Wake Forest University
Yes
(5)
Wake Forest Univ Baptist Med Center
Medical Center Blvd
WinstonSalem
,
NC
27157
51-0190238
Supports WFU, WFU Health Sciences, NC Baptist Hospital
NC
501(c)(3)
Line 12a, I
WFU 50 & NC Baptist Hospital 50
No
(6)
Wake Forest Univ Health Sciences Group
Medical Center Blvd
WinstonSalem
,
NC
27157
90-0222618
Kidney dialysis treatment centers
NC
501(c)(3)
Line 12a, I
WFU Health Sciences
No
(7)
Wake Forest Innovation Quarter Devel Co
Medical Center Blvd
WinstonSalem
,
NC
27157
56-2094067
Research Park development
NC
501(c)(6)
WFU Health Sciences
No
(8)
Wake Forest Innovation Quarter Mgmt Co
Medical Center Blvd
WinstonSalem
,
NC
27157
06-1818498
Research park development
NC
501(c)(3)
Line 12a, I
WFU Health Sciences
No
(9)
RegenMed Development Organization
Medical Center Blvd
WinstonSalem
,
NC
27157
20-2710571
Education supporting Regenerative Med.
NC
501(c)(3)
Line 7
WFU Health Sciences
No
(10)
Wake Forest Innovation Quarter CDC
Medical Center Blvd
WinstonSalem
,
NC
27157
20-0177581
Research development
NC
501(c)(3)
Line 12a, I
WFU Health Sciences
No
(11)
Childress Inst for Pediatric Trauma
575 N Patterson Ave Ste 140
WinstonSalem
,
NC
27101
46-3674691
Medical Research
NC
501(c)(3)
Line 3
WFU Health Sciences
No
(12)
Wake Forest Emergency Providers
Medical Center Blvd
WinstonSalem
,
NC
27157
56-1903275
Operates Primary Care Clinics
NC
501(c)(3)
Line 3
WFU Health Sciences
No
(13)
The James W Denmark Loan Fund Inc
PO Box 7354
WinstonSalem
,
NC
27109
56-0774769
Student Loan Provider
NC
501(c)(3)
Line 12a, I
NA
No
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50135Y
Schedule R (Form 990) 2019
Schedule R (Form 990) 2019
Page
2
Part III
Identification of Related Organizations Taxable as a Partnership.
Complete if the organization answered "Yes" on Form 990, Part IV, line 34, because it had one or more related organizations treated as a partnership during the tax year.
(a)
Name, address, and EIN of
related organization
(b)
Primary activity
(c)
Legal
domicile
(state or foreign
country)
(d)
Direct controlling
entity
(e)
Predominant income(related, unrelated, excluded from tax under sections 512-514)
(f)
Share of total income
(g)
Share of end-of-year
assets
(h)
Disproprtionate allocations?
(i)
Code V-UBI
amount in box 20 of
Schedule K-1
(Form 1065)
(j)
General or
managing
partner?
(k)
Percentage
ownership
Yes
No
Yes
No
(1)
Verger Capital Management LLC
751 W Fourth Street Suite 410
Winston Salem
,
NC
27101
46-4037343
Asset Management
DE
Wake Forest Univ
894,288
6,517,517
No
No
100.000 %
(2)
Verger Capital Fund LLC
751 W Fourth Street Suite 410
Winston Salem
,
NC
27101
46-4027021
Endowment investing
DE
Verger Fund I
43,999,225
786,258,760
No
1,691,762
No
58.920 %
(3)
Wake Forest Technology Development Prog
2520 Meridian Pkwy 400
Durham
,
NC
27713
47-5437596
Tech Devel.
NC
WFU Health Sciences
No
No
(4)
Verger Fund II LLC
751 W Fourth Street Suite 410
WinstonSalem
,
NC
27101
35-2514227
Endowment investing
DE
WFU Health Sciences
No
No
(5)
Wake Forest Ambulatory VTR LLC
Medical Center Blvd
WinstonSalem
,
NC
27157
82-0777206
Healthcare
NC
WFU Health Sciences
No
No
Part IV
Identification of Related Organizations Taxable as a Corporation or Trust.
Complete if the organization answered "Yes" on Form 990, Part IV, line 34 because it had one or more related organizations treated as a corporation or trust during the tax year.
(a)
Name, address, and EIN of
related organization
(b)
Primary activity
(c)
Legal
domicile
(state or foreign
country)
(d)
Direct controlling
entity
(e)
Type of entity
(C corp, S corp,
or trust)
(f)
Share of total income
(g)
Share of end-of-year
assets
(h)
Percentage
ownership
(i)
Section 512(b)(13) controlled entity?
Yes
No
(1)
Charitable Remain Trusts 38
1834 Wake Forest Road
WinstonSalem
,
NC
27109
Investment
NC
WFU
T
No
(2)
Charitable Remain Trusts 2
Medical Center Blvd
Winston Salem
,
NC
27157
Investment
NC
WFU Health Sciences
T
No
Schedule R (Form 990) 2019
Schedule R (Form 990) 2019
Page
3
Part V
Transactions With Related Organizations.
Complete if the organization answered "Yes" on Form 990, Part IV, line 34, 35b, or 36.
Note.
Complete line 1 if any entity is listed in Parts II, III, or IV of this schedule.
Yes
No
1
During the tax year, did the orgranization engage in any of the following transactions with one or more related organizations listed in Parts II-IV?
a
Receipt of
(i)
interest,
(ii)
annuities,
(iii)
royalties, or
(iv)
rent from a controlled entity
.....................
1a
Yes
b
Gift, grant, or capital contribution to related organization(s)
............................
1b
Yes
c
Gift, grant, or capital contribution from related organization(s)
............................
1c
Yes
d
Loans or loan guarantees to or for related organization(s)
............................
1d
Yes
e
Loans or loan guarantees by related organization(s)
............................
1e
Yes
f
Dividends from related organization(s)
............................
1f
No
g
Sale of assets to related organization(s)
............................
1g
No
h
Purchase of assets from related organization(s)
............................
1h
No
i
Exchange of assets with related organization(s)
............................
1i
No
j
Lease of facilities, equipment, or other assets to related organization(s)
.......................
1j
Yes
k
Lease of facilities, equipment, or other assets from related organization(s)
......................
1k
No
l
Performance of services or membership or fundraising solicitations for related organization(s)
.....................
1l
Yes
m
Performance of services or membership or fundraising solicitations by related organization(s)
.................
1m
Yes
n
Sharing of facilities, equipment, mailing lists, or other assets with related organization(s)
...................
1n
Yes
o
Sharing of paid employees with related organization(s)
............................
1o
Yes
p
Reimbursement paid to related organization(s) for expenses
............................
1p
Yes
q
Reimbursement paid by related organization(s) for expenses
............................
1q
Yes
r
Other transfer of cash or property to related organization(s)
............................
1r
Yes
s
Other transfer of cash or property from related organization(s)
............................
1s
Yes
2
If the answer to any of the above is "Yes," see the instructions for information on who must complete this line, including covered relationships and transaction thresholds.
(a)
Name of related organization
(b)
Transaction
type (a-s)
(c)
Amount involved
(d)
Method of determining amount involved
(1)
Wake Forest University Foundation
e
23,609
Cash Transfer
(2)
Wake Forest University Foundation
o
78,142
Cash Transfer
(3)
Wake Forest University Health Sciences
c
1,000,000
Cash Transfer
(4)
Wake Forest University Health Sciences
p
4,266,374
Cash Transfer
(5)
Wake Forest University Health Sciences
q
9,028,135
Cash Transfer
(6)
Wake Forest University Development Fndn
c
6,081
Cash Transfer
(7)
Wake Forest University Development Fndn
d
103,652
Cash Transfer
(8)
Wake Forest University Development Fndn
o
54,437
Fair Value
(9)
Reynolda House Inc
b
669,000
Cash Transfer
(10)
Reynolda House Inc
q
176,887
Cash Transfer
(11)
The James W Denmark Loan Fund Inc
s
50,900
Cash Transfer
(12)
Verger Capital Management LLC
a
180,865
Interest Pmt
(13)
Verger Capital Management LLC
d
647,585
Loan Repayment
(14)
Verger Capital Management LLC
j
69,127
Cash Transfer
(15)
Verger Capital Management LLC
m
2,689,869
Inv Mgmt Fees
(16)
Verger Capital Management LLC
q
3,233,039
Cash Transfer
(17)
Verger Capital Fund LLC
r
21,436,980
Cash Transfer
(18)
Verger Capital Fund LLC
s
41,956,261
Cash Transfer
Schedule R (Form 990) 2019
Schedule R (Form 990) 2019
Page
4
Part VI
Unrelated Organizations Taxable as a Partnership.
Complete if the organization answered "Yes" on Form 990, Part IV, line 37.
Provide the following information for each entity taxed as a partnership through which the organization conducted more than five percent of its activities (measured by total assets or gross revenue) that was not a related organization. See instructions regarding exclusion for certain investment partnerships.
(a)
Name, address, and EIN of entity
(b)
Primary activity
(c)
Legal domicile
(state or foreign
country)
(d)
Predominant income (related, unrelated, excluded from tax under sections 512-514)
(e)
Are all partners
section
501(c)(3)
organizations?
(f)
Share of total income
(g)
Share of
end-of-year
assets
(h)
Disproprtionate allocations?
(i)
Code V-UBI
amount in box 20
of Schedule K-1
(Form 1065)
(j)
General or
managing
partner?
(k)
Percentage
ownership
Yes
No
Yes
No
Yes
No
Schedule R (Form 990) 2019
Schedule R (Form 990) 2019
Page
5
Part VII
Supplemental Information
Provide additional information for responses to questions on Schedule R. (see instructions).
Return Reference
Explanation
Related Party Disclosures
Verger Capital Management, LLC is a controlled entity that is taxable as a Partnership. It was formed to manage the investment activities for the endowment assets of the University and the Wake Forest controlled group.
Verger Capital Fund LLC
Verger Capital Fund (VCF) was created in order to hold the filing organization's Endowment Assets for investment. VCF accepted endowment assets of other members of the controlled group in FY15. During this fiscal year VCF received assets from other, unrelated, entities for investment and plans to continue this avenue of growth.
Verger Fund I LLC
Verger Fund I is a disregarded entity that holds the University's partnership interest in Verger Capital Fund, the entity holding the Endowment assets.
Verger Fund II LLC
Verger Fund II is the partnership which holds the interest in VCF (endowment assets) for the other members of the WFU controlled group. These subsidiary entities have a combined controlling interest in the partnership, thus the common parent, Wake Forest University has an indirect controlling interest.Wake Forest Techonology Development Program, LP and Wake Forest Ambulatory VTR, LLC are partnerships controlled by Wake Forest University Health Sciences. Since Wake Forest University is deemed to control Wake Forest University Health Sciences, it has an indirect controlling interest in these partnerships.
Schedule R (Form 990) 2019
Additional Data
Software ID:
19009920
Software Version:
2019v5.0