Mayo Clinic
88% goes to programs $15 to raise $100
Mayo Clinic is a 501(c)(3) organization based in Rochester, Minnesota, registered in 2014, with $1,180,538,123 in FY2014 revenue. CharityIndex grades it B, and it directs about 88% of spending to programs.
Po Box 4007, Rochester, MN, 55903 EIN 41-1506440 Since 2014
Revenue (FY2014)
$1.2B
▲ 10.4% vs prior year
Health median: $840K
Expenses (FY2014)
$1.1B
Net assets
$181.7M
Employees
7,613
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
B
C+Program efficiency40% of the rating88% to programs · $15 to raise $100
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For Mayo Clinic: 88% to programs · $15 to raise $100 earns a C+ on this criterion. See the exact thresholds →
BFinancial health25% of the rating2 mo reserves · +3% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Mayo Clinic: 2 mo reserves · +3% margin earns a B on this criterion. See the exact thresholds →
AGovernance25% of the rating5 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Mayo Clinic: 5 of 6 checks met earns a A on this criterion. See the exact thresholds →
ATransparency10% of the rating4 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Mayo Clinic: 4 of 5 disclosure signals earns a A on this criterion. See the exact thresholds →
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Mission
To assist in carrying out the charitable purposes of mayo clinic
What they do
Pharmacies and medical products (see schedule o)pharmacies and medical products:in order to conveniently accommodate the needs of patients and employees of mayo clinic, mfmer operates seven pharmacies and three medical product stores at mayo clinic sites. in 2014, 1,076,122 prescriptions and 124,500 medical product orders were filled for mayo clinic employees, retirees, and patients. these operations are not intended to serve the general public.
Health information (see schedule o)health information:mfmer is used as a means of making available to the medical community and to the general public the results of mayo's research and education programs. global business solutions has service lines encompassing the web, mobile, print and telephonic channels that make mayo clinics health information, expertise and unique model of care available to millions of people.during 2014, mfmer sold 6,682,362 copies of the mayo clinic health letter. the health letter is a monthly newsletter containing useful health information for the general public.mfmer sold 280,998 copies of the mayo clinic embodyhealth newsletter. most of the copies were sold to employers and member organizations as part of mfmer's corporate wellness program. this program is designed to meet the specific population health management needs of employers and member organizations. the embodyhealth newsletter provides health information to the subscribing organization's employees and members. the embodyhealth newsletter ended in february 2014.mfmer also sells numerous books on health related topics. during 2014, mfmer sold 448,577 copies of books on health related topics to consumers and employers. mfmer also operates mayo's informational consumer website, mayoclinic.com, which has thousands of visitors daily.ask mayo clinic, a telephonic health resource administered by mfmer is a strategic resource available to employers to offer to their employees. this 24-hour nurse line and health advocacy service is staffed by experienced registered nurses who draw on the resources of mayo clinic to help people choose the right level of care for illnesses and injuries, and access appropriate resources for their personal health needs.other telephonic health resources administered by mfmer to employers to offer to their employees include: healthy living coaching, disease management, and pregnancy advisor. healthy living online is the web product sold to employers which includes an online health assessment.
Licensing of technology:making the results of research and technology developed throughout mayo clinic available to the public is another function of mfmer. this is accomplished through licensing arrangements with others having the capability to distribute the technology to the medical community and the general public. during 2014, mfmer signed 91 licenses with companies to distribute mayo clinic technology and inventions. in exchange for these licenses, mfmer receives royalties based on gross revenues generated from the products developed from the licensed technology or invention. the revenues from these royalties are used to further the research and educational activities of mayo clinic.mayo clinic ventures (mcv) works with inventors and industry to move innovations from bench to bedside by creating new licensing opportunities, new companies and new products. mcv has filed more than 5575 patent applications resulting in more than 752 active license agreements with companies in the biomedical and manufacturing industries.technology based ventures (tbv): when clearly defined criteria are met, a technology may be considered for the office of intellectual property's technology based ventures (tbv) program, which commercializes a technology in exchange for equity and acts as a vehicle for a possible mayo clinic investment into a start-up company. the technology-based ventures program focuses on commercializing mayo clinic technologies by creating new companies, licensing technologies into exis
Contact & location
- Address
- Po Box 4007, Rochester, MN, 55903
- City
- Rochester
- State
- Minnesota
- Category
- Health Care
- Subcategory
- Hospitals
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $1.1B (FY2013) to $1.2B (FY2014) across 2 reported years.
Financial snapshot
Financial health & position (FY2014)
Liabilities $1.6BNet assets $181.7M
Operating margin
3.1%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$1.8B
Total liabilities
$1.6B
Net assets
$181.7M
Salaries & benefits
$542.2M
47% of expenses
Board members
6
0 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2014 | $1,180,538,123▲10.4% | $1,143,526,039▲7.6% | $181,710,240▲23.8% | $1,819,022,279▲0.7% | 990 |
| 2013 | $1,069,484,400 | $1,062,749,709▼1.9% | $146,788,956▲12.6% | $1,805,591,504▲13.1% | 990 |
| 2012 | — | $1,083,792,200▲12.3% | $130,306,391▲23.0% | $1,596,665,927▲16.6% | 990 |
| 2011 | — | $964,822,245▲21.8% | $105,944,628▲17.5% | $1,369,241,497▼2.8% | 990 |
| 2010 | — | $792,420,716 | $90,192,969 | $1,408,642,075 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2014)
Highest-paid: Noseworthy Md John H — $2,267,774 (0.20% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Noseworthy Md John H | Ceo Mayo Clinic | 40 | $2,267,774 |
| Weis Shirley A | Fmr Asst Treas | 0 | $1,478,614 |
| Bolton Jeffrey W | Cao - Mayo Clinic | 40 | $904,718 |
| Trastek Md Victor F | Former Ceo - Arizona | 40 | $813,866 |
| Adkins Jr Kedrick D | Director (8/25-12/31) | 40 | $638,707 |
| Ross Christopher J | Chief Information Officer | 40 | $605,584 |
| Oviatt Jonathan J | Secretary | 40 | $603,409 |
| Ragsdale Jill M | Chief Human Resources Officer | 40 | $550,861 |
| Mcneill Steven L | Chief Planning Officer | 40 | $364,103 |
| Weston John H | Chief Marketing Officer | 40 | $359,765 |
| Francis James R | Asst Treas | 40 | $354,558 |
| Ryan Michael J | Chair - Dept of It | 40 | $346,695 |
| Allan Roberta M | Chair of Development - Arizona | 40 | $327,237 |
| Nelms James C | Chief Info Security Officer | 40 | $316,403 |
| Sandeen Darrell L | Vp (1/1-12/31)/director (1/1-8/25) | 40 | $315,701 |
| Grosset Jessica A | Vice Chair It Ops and Infrast | 40 | $307,600 |
| Collins Craig C | Chair Finance Midwest | 40 | $281,893 |
| Froisland Jeffrey R | Asst Treas | 40 | $281,615 |
| Herbert David P | Asst Treas (1/1-12/11) | 40 | $277,143 |
| Rogers James A | Asst Secy/director | 40 | $276,580 |
Top vendors & contractors (FY2014)
| Contractor | Services | Paid |
|---|---|---|
| Hunt Construction Group Inc | Construction | $37,045,645 |
| Hitachi America Ltd | Technology Services | $27,233,767 |
| Boldt Construction | Construction | $21,853,298 |
| Sodexo Inc | Food Services | $21,268,660 |
| Peopleclick Inc | Hr Services | $20,129,810 |
Grants received · $351.9M total
64 grants to Mayo Clinic totaling $351.9M, reported by foundations on their Schedule I filings — showing the 15 most recent.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| Mayo Clinic | Support charitable programs | 2024 | $65,126,108 |
| The Bessemer Giving Fund | General support | 2024 | $100,000 |
| American Cancer Society Inc | Patient support | 2024 | $85,000 |
| Collier Community Foundation Inc | Health | 2024 | $73,655 |
| South Dakota Community Foundation | Healthcare | 2024 | $6,259 |
| Mayo Clinic | Support charitable programs | 2023 | $266,042,435 |
| Mayo Clinic Group Return | Support research program | 2023 | $1,460,976 |
| Donor Advised Charitable Giving | Health | 2023 | $286,501 |
| Collier Community Foundation Inc | Health | 2023 | $73,503 |
| American Heart Association Inc | Recurrent pericarditis initiative | 2023 | $20,000 |
| Thrivent Charitable Impact & Investing | General support | 2023 | $8,914 |
| South Dakota Community Foundation | Healthcare | 2023 | $6,220 |
| Mayo Clinic | Support charitable programs | 2022 | $942,601 |
| Collier Community Foundation Inc | Health | 2022 | $146,179 |
| American Lung Association | Research | 2022 | $100,000 |
Grants made · $5.2M in FY2014
6 grants totaling $5.2M in FY2014. All grants made by Mayo Clinic →
| Recipient | Purpose | Amount |
|---|---|---|
| Mayo Clinic | Support exempt purpose | $5,000,000 |
| Southeastern Minnesota Private Industry Council Inc | Support exempt purpose | $85,000 |
| Ncsl Foundation For State Legislatures | Support exempt purpose | $50,000 |
| Rochester Public School | Support exempt purpose | $50,000 |
| Susan G Komen Breast Cancer Foundation | Support exempt purpose | $50,000 |
| Gift of Life Inc | Support exempt purpose | $6,375 |
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Frequently asked questions
- Is Mayo Clinic a legitimate nonprofit?
- Yes. Mayo Clinic is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 41-1506440, based in Rochester, Minnesota. Donations are tax-deductible.
- What is Mayo Clinic's EIN?
- Mayo Clinic's Employer Identification Number (EIN) is 41-1506440.
- How much revenue does Mayo Clinic report?
- Mayo Clinic reported $1,180,538,123 in total revenue on its fiscal year 2014 IRS Form 990 filing.
- How much of Mayo Clinic's spending goes to programs?
- Mayo Clinic spends about 88% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Mayo Clinic have?
- CharityIndex grades Mayo Clinic B, based on program efficiency and fundraising cost.
- How much does Mayo Clinic's highest-paid employee make?
- The highest reported compensation on Mayo Clinic's latest Form 990 is $2,267,774, paid to Noseworthy Md John H (Ceo Mayo Clinic).
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Data for Mayo Clinic (EIN 41-1506440) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.