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Wake Forest Innovation Quarter Management Co

Organization summary

Type of Nonprofit

Designated as a Organizations for any of the following purposes: religious, educational, charitable, scientific, literary, testing for public safety, fostering national or international amateur sports competition (as long as it doesn't provide athletic facilities or equipment), or the prevention of cruelty to children or animals.

Category: Community Improvement, Capacity Building / Single Organization Support (NTEE)

Donations to this organization are tax deductible.

Summary charts: organization finances over time

Revenue
$68.7k (2023)

Expenses
$2.96M (2023)

Total Assets
$87.6k (2023)

Total Liabilities
$24.8M (2023)

Years with multiple filings
Source: Form 990 tax filings from 2011 to 2023

Tax Filings and Audits by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Audits are required to be submitted by nonprofit organizations that spend $750,000 or more in federal grant money in a fiscal year. "Single audits" look at the entire organization's finances and compliance, while other audits are program specific. Nonprofit Explorer has PDFs of audits for some nonprofits for fiscal year 2015 and later. Audit data is from the Federal Audit Clearinghouse.

Fiscal Year Ending Dec.
2023

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$68,714
Expenses
$2,955,970
Net Income
-$2,887,256
Net Assets
-$24,754,697
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $68,714
100%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $809,354
27.4%
Assets/Debt
Total Assets $87,638
Total Liabilities $24,842,335
Net Assets -$24,754,697
Compensation
Key Employees and Officers Compensation Related Other
J Mclain Wallace Jr (Director & Treasurer) $983,574 $0 $35,934
Susan R Wente Phd (Director & Chair) $0 $1,473,696 $325,680
J Reid Morgan (Director & Secretary (To 6/30/23)) $0 $690,571 $108,874
Anita Conrad (Asst Secretary (To 10/31/23)) $0 $218,902 $42,998
Terry L Hales Jr (Director & President) $0 $867,249 $56,067

Document Links

Fiscal Year Ending Dec.
2022

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$0
Expenses
$2,788,694
Net Income
-$2,788,694
Net Assets
-$21,867,441
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $0
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $175,864
6.3%
Assets/Debt
Total Assets $81,245
Total Liabilities $21,948,686
Net Assets -$21,867,441
Compensation
Key Employees and Officers Compensation Related Other
J Mclain Wallace Jr (Director & Treasurer) $984,139 $0 $159,721
J Reid Morgan (Director & Secretary) $0 $647,740 $142,213
Terry L Hales Jr (Director & President) $0 $819,018 $146,647
Susan R Wente Phd (Director & Chair) $0 $1,398,169 $314,071
Anita M Conrad (Assistant Secretary) $0 $201,322 $43,395

Document Links

Fiscal Year Ending Dec.
2021

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$0
Expenses
$2,360,349
Net Income
-$2,360,349
Net Assets
-$19,078,747
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $0
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $63,768
2.7%
Assets/Debt
Total Assets $76,176
Total Liabilities $19,154,923
Net Assets -$19,078,747
Compensation
Key Employees and Officers Compensation Related Other
J Reid Morgan (Director & Secretary) $0 $1,218,034 $102,296
Terry L Hales Jr (Director & President) $0 $775,775 $153,934
J Mclain Wallace Jr (Director & Treasurer) $0 $0 $0
Susan R Wente Phd (Director (Fr 7/1/2021)) $0 $692,191 $156,642
Anita M Conrad (Assistant Secretary) $0 $205,155 $42,128

Document Links

Fiscal Year Ending June
2021

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$0
Expenses
$2,424,250
Net Income
-$2,424,250
Net Assets
-$16,718,398
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $0
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $140,340
5.8%
Assets/Debt
Total Assets $65,618
Total Liabilities $16,784,016
Net Assets -$16,718,398
Compensation
Key Employees and Officers Compensation Related Other
Nathan O Hatch Phd (Director (To 6/30/21)) $0 $1,524,226 $201,227
J Reid Morgan (Director & Secretary) $0 $659,852 $140,201
Terry L Hales Jr (Director & President) $0 $631,751 $137,670
J Mclain Wallace Jr (Director & Treasurer) $0 $0 $0
Anita M Conrad (Asst Secretary) $0 $191,046 $41,640

Document Links

Fiscal Year Ending June
2020

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$0
Expenses
$1,678,229
Net Income
-$1,678,229
Net Assets
-$14,294,148
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $0
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $206,884
12.3%
Assets/Debt
Total Assets $361,624
Total Liabilities $14,655,772
Net Assets -$14,294,148
Compensation
Key Employees and Officers Compensation Related Other
Nathan O Hatch Phd (Director) $0 $1,665,827 $352,861
J Reid Morgan (Director & Secretary) $0 $655,028 $166,975
Terry L Hales Jr (Director & President) $0 $632,319 $138,769
Eric Tomlinson Dsc Phd (Former Director/Officer (3 1 18)) $0 $439,108 $2,522
Anita M Conrad (Asst Secretary) $0 $195,239 $39,637
J Mclain Wallace Jr (Director & Treasurer) $0 $0 $0

Document Links

Fiscal Year Ending June
2019

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$1,000
Expenses
$1,318,221
Net Income
-$1,317,221
Net Assets
-$12,615,919
Notable Sources of Revenue Percent of Total Revenue
Contributions $1,000
100%
Program Services $0
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $106,891
Total Liabilities $12,722,810
Net Assets -$12,615,919
Compensation
Key Employees and Officers Compensation Related Other
Terry L Hales Jr (Director & President (Eff 8 8 18)) $0 $579,912 $68,917
J Reid Morgan (Director & Secretary) $0 $560,012 $187,816
Nathan O Hatch Phd (Director) $0 $1,987,864 $387,831
J Mclain Wallace Jr (Director & Treasurer (Eff 8 8 18)) $0 $0 $0
Anita M Conrad (Asst Secretary) $0 $194,592 $39,096
Eric Tomlinson Dsc Phd (Former Director/Officer) $0 $663,211 $25,376

Document Links

Fiscal Year Ending June
2018

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$1,000
Expenses
$1,109,588
Net Income
-$1,108,588
Net Assets
-$11,298,698
Notable Sources of Revenue Percent of Total Revenue
Contributions $1,000
100%
Program Services $0
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $373,205
Total Liabilities $11,671,903
Net Assets -$11,298,698
Compensation
Key Employees and Officers Compensation Related Other
J Reid Morgan (Director & Secretary) $0 $528,855 $182,806
Nathan O Hatch Phd (Director) $0 $1,405,146 $480,383
Eric Tomlinson Dsc Phd (Director & President (To 3 1 18)) $0 $694,716 $35,598
Terry L Hales Jr (Treasurer) $0 $594,630 $53,599
Anita M Conrad (Assistant Secretary) $0 $184,521 $38,363

Document Links

Fiscal Year Ending June
2017

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$93,170
Expenses
$1,196,949
Net Income
-$1,103,779
Net Assets
-$10,190,110
Notable Sources of Revenue Percent of Total Revenue
Contributions $1,000
1.1%
Program Services $90,670
97.3%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $1,500
1.6%
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $2,271,697
Total Liabilities $12,461,807
Net Assets -$10,190,110
Compensation
Key Employees and Officers Compensation Related Other
J Reid Morgan (Director & Secretary) $0 $560,584 $142,553
Nathan O Hatch Phd (Director) $0 $1,023,612 $662,475
John D Mcconnell Md (Director (To 4 26 17)) $0 $2,031,055 $266,426
Eric Tomlinson Dsc Phd (Director & President) $0 $799,427 $111,994
Terry L Hales Jr (Treasurer) $0 $470,129 $119,381
Anita M Conrad (Assistant Secretary) $0 $176,800 $36,047

Document Links

Fiscal Year Ending June
2016

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$0
Expenses
$1,079,967
Net Income
-$1,079,967
Net Assets
-$9,086,331
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $0
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $2,816,958
Total Liabilities $11,903,289
Net Assets -$9,086,331
Compensation
Key Employees and Officers Compensation Related Other
J Reid Morgan (Director & Secretary) $0 $510,246 $97,801
Nathan O Hatch Phd (Director) $0 $3,941,320 $287,707
John D Mcconnell Md (Director) $0 $2,031,489 $252,556
Eric Tomlinson Dsc Phd (Director & President) $0 $549,802 $103,489
Terry L Hales Jr (Treasurer) $0 $481,853 $102,471
Anita M Conrad (Assistant Secretary) $0 $168,791 $34,394
William B Applegate Md (Former Director & Officer) $0 $242,496 $32,243

Document Links

Fiscal Year Ending June
2015

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$2,728
Expenses
$851,550
Net Income
-$848,822
Net Assets
-$8,006,364
Notable Sources of Revenue Percent of Total Revenue
Contributions $1,500
55.0%
Program Services $0
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $1,228
45.0%
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $1,671,349
Total Liabilities $9,677,713
Net Assets -$8,006,364
Compensation
Key Employees and Officers Compensation Related Other
J Reid Morgan (Director & Secretary) $0 $478,079 $110,947
Nathan O Hatch Phd (Director) $0 $1,023,508 $433,311
John D Mcconnell Md (Director) $0 $1,551,136 $232,372
Eric Tomlinson Dsc Phd (Director & President) $0 $548,647 $94,369
Terry L Hales Jr (Treasurer) $0 $401,630 $93,389
Anita M Conrad (Assistant Secretary) $0 $163,282 $32,713
William B Applegate Md (Former Director & Officer) $0 $254,397 $24,303

Document Links

Fiscal Year Ending June
2014

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$6,197
Expenses
$904,667
Net Income
-$898,470
Net Assets
-$7,157,542
Notable Sources of Revenue Percent of Total Revenue
Contributions $1,459
23.5%
Program Services $0
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $4,738
76.5%
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $9,783,751
Total Liabilities $16,941,293
Net Assets -$7,157,542
Compensation
Key Employees and Officers Compensation Related Other
J Reid Morgan (Director & Secretary) $0 $468,408 $94,436
Nathan O Hatch Phd (Director) $0 $1,018,765 $389,496
John D Mcconnell Md (Director) $0 $1,019,933 $732,938
Eric Tomlinson Dsc Phd (Director & President) $0 $542,255 $79,923
Terry L Hales Jr (Treasurer) $0 $366,527 $87,053
Anita M Conrad (Assistant Secretary) $0 $160,206 $30,855
Douglas L Edgeton (Former Director & Officer) $0 $495,405 $245
William B Applegate Md (Former Director & Officer) $0 $420,742 $37,722

Document Links

Fiscal Year Ending June
2013

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$5,795
Expenses
$2,142,271
Net Income
-$2,136,476
Net Assets
-$6,259,072
Notable Sources of Revenue Percent of Total Revenue
Contributions $5,795
100%
Program Services $0
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $9,759,023
Total Liabilities $16,018,095
Net Assets -$6,259,072

Document Links

Fiscal Year Ending June
2012

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$126,134
Expenses
$1,457,538
Net Income
-$1,331,404
Net Assets
-$4,122,596
Notable Sources of Revenue Percent of Total Revenue
Contributions $119,221
94.5%
Program Services $0
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $6,913
5.5%
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $9,804,562
Total Liabilities $13,927,158
Net Assets -$4,122,596

Document Links

Fiscal Year Ending June
2011

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$48,522
Expenses
$1,154,109
Net Income
-$1,105,587
Net Assets
-$2,791,192
Notable Sources of Revenue Percent of Total Revenue
Contributions $43,348
89.3%
Program Services $0
Investment Income $5,174
10.7%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $4,243,854
Total Liabilities $7,035,046
Net Assets -$2,791,192

Document Links

Fiscal Year Ending June
2010

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending June
2009

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending June
2008

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

About This Data

Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats.

The summary data contains information processed by the IRS during the 2012-2019 calendar years; this generally consists of filings for the 2011-2018 fiscal years, but may include older records. This data release includes only a subset of what can be found in the full Form 990s.

In addition to the raw summary data, we link to PDFs and digital copies of full Form 990 documents wherever possible. This consists of separate releases by the IRS of Form 990 documents processed by the agency, which we update regularly.

We also link to copies of audits nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year since 2016. These audits are copied from the Federal Audit Clearinghouse.

Which Organizations Are Here?

Every organization that has been recognized as tax exempt by the IRS has to file Form 990 every year, unless they make less than $200,000 in revenue and have less than $500,000 in assets, in which case they have to file form 990-EZ. Organizations making less than $50,000 don’t have to file either form but do have to let the IRS they’re still in business via a Form 990N "e-Postcard."

Nonprofit Explorer has organizations claiming tax exemption in each of the 27 subsections of the 501(c) section of the tax code, and which have filed a Form 990, Form 990EZ or Form 990PF. Taxable trusts and private foundations that are required to file a form 990PF are also included. Small organizations filing a Form 990N "e-Postcard" are not included in this data.

Types of Nonprofits

There are 27 nonprofit designations based on the numbered subsections of section 501(c) of the tax code. See the list »

Get the Data

For those interested in acquiring the original data from the source, here’s where our data comes from:

  • Raw filing data. Includes EINs and summary financials as structured data.
  • Exempt Organization profiles. Includes organization names, addresses, etc. You can merge this with the raw filing data using EIN numbers.
  • Form 990 documents. Prior to 2017, these documents were obtained and processed by Public.Resource.org and ProPublica. Bulk PDF downloads since 2017 are available from the IRS.
  • Form 990 documents as XML files. Includes complete filing data (financial details, names of officers, tax schedules, etc.) in machine-readable format. Only available for electronically filed documents. Electronic data released prior to October 2021 is also available through Amazon Web Services.
  • Audits. PDFs of single or program-specific audits for nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year. Available for fiscal year 2015 and later.

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