TY 2020 Form 990 Schedule J

(A) Name and Title		(B) Breakdown of W-2 and/or 1099-MISC compensation			(C) Retirement and other deferred compensation	(D) Nontaxable benefits	(E) Total of columns (B)(i)-(D)	(F) Compensation in column (B) reported as deferred on prior Form 990
(A) Name and Title		(i) Base compensation	(ii) Bonus & incentive compensation	(iii) Other reportable compensation	(C) Retirement and other deferred compensation	(D) Nontaxable benefits	(E) Total of columns (B)(i)-(D)
1Julie A Freischlag MD EVP Health Aff.	(i) (ii)	0 ------------- 1,456,803	0 ------------- 663,750	0 ------------- 949,477	0 ------------- 412,187	0 ------------- 27,950	0 ------------- 3,510,167	0 ------------- 905,232
2David P Clawson Football Coach	(i) (ii)	3,298,883 ------------- 0	0 ------------- 0	57,286 ------------- 0	21,375 ------------- 0	41,696 ------------- 0	3,419,240 ------------- 0	0 ------------- 0
3Nathan O Hatch PhD Pres. & Trustee	(i) (ii)	870,516 ------------- 0	300,000 ------------- 0	353,710 ------------- 0	173,381 ------------- 0	56,346 ------------- 0	1,753,953 ------------- 0	249,477 ------------- 0
4Rogan Kersh PhD Provost	(i) (ii)	563,450 ------------- 0	6,163 ------------- 0	552,856 ------------- 0	80,250 ------------- 0	27,723 ------------- 0	1,230,442 ------------- 0	437,552 ------------- 0
5Steve Forbes Men's BktBall Co	(i) (ii)	993,397 ------------- 0	0 ------------- 0	87,227 ------------- 0	14,250 ------------- 0	18,727 ------------- 0	1,113,601 ------------- 0	0 ------------- 0
6Andrew R Chan VP Career Development	(i) (ii)	394,202 ------------- 0	0 ------------- 0	551,666 ------------- 0	80,250 ------------- 0	35,646 ------------- 0	1,061,764 ------------- 0	321,478 ------------- 0
7B Hofler Milam EVP, CFO, Treas	(i) (ii)	596,899 ------------- 0	0 ------------- 0	20,770 ------------- 0	231,035 ------------- 0	30,560 ------------- 0	879,264 ------------- 0	0 ------------- 0
8Mark A Petersen VP - Advancement	(i) (ii)	467,612 ------------- 0	0 ------------- 0	289,038 ------------- 0	71,697 ------------- 0	36,098 ------------- 0	864,445 ------------- 0	174,250 ------------- 0
9J Reid Morgan S.VP, Sec, G.C.	(i) (ii)	489,082 ------------- 0	150,000 ------------- 0	20,770 ------------- 0	104,450 ------------- 0	35,751 ------------- 0	800,053 ------------- 0	0 ------------- 0
10Daniel R Manning Men's BktBall Co	(i) (ii)	760,849 ------------- 0	0 ------------- 0	8,530 ------------- 0	21,375 ------------- 0	7,924 ------------- 0	798,678 ------------- 0	0 ------------- 0
11John A Currie Director of Athletics	(i) (ii)	680,933 ------------- 0	0 ------------- 0	34,111 ------------- 0	14,250 ------------- 0	30,058 ------------- 0	759,352 ------------- 0	0 ------------- 0
12Warren D Ruggiero Asst F'ball Coach	(i) (ii)	617,847 ------------- 0	74,000 ------------- 0	9,181 ------------- 0	21,375 ------------- 0	16,309 ------------- 0	738,712 ------------- 0	0 ------------- 0
13Ronald D Wellman Former Director of Athletics	(i) (ii)	493,278 ------------- 0	0 ------------- 0	22,603 ------------- 0	28,500 ------------- 0	20,587 ------------- 0	564,968 ------------- 0	0 ------------- 0
14John D McConnell MD Former EVP Health Affairs	(i) (ii)	0 ------------- 444,351	0 ------------- 0	0 ------------- 45,408	0 ------------- 21,519	0 ------------- 22,030	0 ------------- 533,308	0 ------------- 0
15Charles L Iacovou PhD Dean, Business School	(i) (ii)	439,390 ------------- 0	0 ------------- 0	8,289 ------------- 0	28,500 ------------- 0	25,389 ------------- 0	501,568 ------------- 0	0 ------------- 0
16Michele Gillespie PhD Dean, Wake Forest College	(i) (ii)	353,431 ------------- 0	0 ------------- 0	11,643 ------------- 0	28,500 ------------- 0	28,277 ------------- 0	421,851 ------------- 0	0 ------------- 0
17Anita M Conrad Asst Secretary	(i) (ii)	190,650 ------------- 0	0 ------------- 0	396 ------------- 0	20,000 ------------- 0	21,640 ------------- 0	232,686 ------------- 0	0 ------------- 0

Schedule J (Form 990) 2020

Part III

Supplemental Information

Provide the information, explanation, or descriptions required for Part I, lines 1a, 1b, 3, 4a, 4b, 4c, 5a, 5b, 6a, 6b, 7, and 8, and for Part II. Also complete this part for any additional information.

Return Reference	Explanation
Part I, Line 1a	Charter and First-Class Travel: Charter and First-Class travel are sometimes made available for various business and scheduling needs of the officers who are traveling. Athletics personnel sometimes use charters for team travel. Chartered flights are sometimes provided by donors to the university. As such travel is for business purposes only, it is not treated as taxable. Travel for companions: Reimbursed spousal travel is allowed per the filing organization's policy when pursuant to a bona fide business purpose. To the extent that there is a business purpose for the travel, it is not treated as taxable. Tax indemnification: Individuals may have certain payments grossed up at the discretion of the President, Board of Trustees, CFO, or as provided by their employment contract. All such payments are considered taxable. The President is provided lodging for the convenience of the University as a condition of the President's employment, and as such, pursuant to IRC Section 119, it is not deemed a taxable benefit. Certain services, such as cleaning, landscaping and maintenance, are provided as part of the operation of the President's University-owned residence. The value of cleaning attributed to personal spaces is included in the President's taxable income. Social Club dues are provided by the University when membership fulfills a university business purpose. All such dues are included in taxable compensation when applicable. The President has a discretionary spending account. Any expenses deemed personal are treated as taxable compensation.
Part I, Line 4b	Line 4b payments - included in Schedule J, column(C): The compensation of Dr. Nathan O. Hatch, President, includes a payout of $272,769 which is included in his 2020 Form W-2 and in column Biii. $249,477 is shown in Schedule J, Part II, Column F and has been previously reported on a prior year Form 990. Dr. Hatch participates in a supplemental nonqualified retirement plan (SERP). Schedule J, Part II, Column C includes the actuarial value increase of $144,881. The compensation of B. Hofler Milam, EVP, CFO, and Treasurer includes an accrual of $202,535 on a deferred compensation arrangement included in Schedule J, Part II, Column C. The compensation of Rogan Kersh, Provost, includes a payout of $539,302 which is included in his 2020 Form W-2 and in column Biii. $437,552 is shown in Schedule J, Part II, Column F and has been previously reported on a prior year Form 990. His compensation also includes $51,750 from participation in a deferred compensation arrangement included in Schedule J, Part II, Column C. The compensation of J. Reid Morgan, Senior Vice President and General Counsel, includes $75,950 shown in Schedule J, Part II, Column C, from his participation in a deferred compensation arrangement. The compensation of Mark A. Petersen, VP Advancement, includes a payout of $259,947 which is included in his 2020 Form W-2 and in column Biii. $174,250 is shown in Schedule J, Part II, Column F and has been previously reported on a prior year Form 990. His compensation also includes $43,197 from participation in a deferred compensation arrangement included in Schedule J, Part II, Column C. The compensation of Andrew Chan, VP of Career, includes a payout of $539,302 which is included in his 2020 Form W-2 and in column Biii. $321,478 is shown in Schedule J, Part II, Column F and has been previously reported on a prior year Form 990. The compensation of Julie Ann Freischlag M.D., Executive Vice President for Health Affairs, includes an accrual of $915,849 on her deferred compensation arrangement (included in Column C). All compensation to Dr. Freischlag is paid by a related organization as described later in Sch J, Part III.
Part I, Line 7	Various Officers and Key Employees have incentive compensation components contained in their employment agreements. These are often goal-based and are determined in the course of evaluation of the employee's performance by his or her supervisor or the compensation committee of the filing organization's board, as applicable. Others are awarded discretionary amounts, but within budgetary constraints. Other non-fixed payments may include sums for relocation that are typically included as a provision in an employment agreement. All such payments are reflected on the individual's W-2 when applicable.
Schedule J, Part II	The following individuals have amounts included in Schedule J, column D (nontaxable benefits) for tuition provided to family members under the Wake Forest University Tuition Concession Plan for Dependent Children, available to all employees. Michele Gillespie, PhD: $10,342 David P. Clawson: $10,342 Mark A. Peterson: $10,560 Andrew R. Chan: $10,560 All compensation provided to Julie Ann Freischlag M.D. (Current EVP- Health Affairs) and John D. McConnell, M.D. (Former EVP- Health Affairs) was paid by a related organization, Wake Forest University Health Sciences (WFUHS), for their services as employees of that related organization (and other related and affiliated organizations comprising the academic medical center of which the filing organization's Medical School is a part) and not for any of their services as an officer or former officer of the filing organization. Wake Forest University Baptist Medical Center (WFUBMC) is the organization that has been delegated authority to operate WFUHS and the North Carolina Baptist Hospital (NCBH), an unrelated but affiliated organization, and all of the respective subsidiaries of each of WFUHS and NCBH. Filing organization Wake Forest University (WFU) is one of three Members of WFUBMC; the other two Members are NCBH and Atrium Health,. Inc. Dr. McConnell was the CEO of WFUBMC, WFUHS and NCBH through 4-26-17; Dr. Julie A. Freischlag succeeded Dr. McConnell in that office effective 4-27-17 and has since also assumed roles in Atrium Health, Inc.

Software ID:
Software Version: