Mayo Clinic is a 501(c)(3) organization based in Rochester, Minnesota, registered in 1947, with $7,929,118,794 in FY2024 revenue. CharityIndex grades it A+, and it directs about 94% of spending to programs.
Revenue (FY2024)
$7.9B
▲ 6.8% vs prior year
Health median: $840K
Expenses (FY2024)
$6.3B
Net assets
$16.5B
Employees
30,970
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: 94% to programs · $2 to raise $100 earns a A+ on this criterion. See the exact thresholds →
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: 31 mo reserves · +20% margin earns a A on this criterion. See the exact thresholds →
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: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
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: 5 of 5 disclosure signals earns a A+ on this criterion. See the exact thresholds →
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Patient care, research and education
Medical research (see schedule o for description)medical research:mayo clinic is one of the premier medical research organizations in the world. innovation and improvement of science and the delivery of health care are enhanced through mayo clinic's research programs. clinical practice observations become the basis for research studies and the findings from research flow back into the practice to improve patient care and outcomes. physician/researchers and career scientists' work in tandem to advance medicine and to improve the health and well-being of not just mayo clinic patients, but also the public at large, as these findings are disseminated worldwide.research at mayo clinic involves medical professionals committed to searching for answers to complex medical problems with the goal of bringing new solutions and advanced care rapidly to patients throughout the world. research activities include basic science research, clinical trials, translational research and human research studies. during 2024, mayo clinic, in conjunction with its affiliates, had over 5,000 research personnel, 27 core laboratories, more than 9,300 active institutional review board-approved human research studies, 1,200 new human research studies approved by the institutional review board and over 11,200 research and review articles published in peer-reviewed journals. many of these personnel, laboratories, studies and articles are located or performed by mayo clinic in rochester, minnesota.funding of research activities at mayo clinic comes from grants and contracts as well as from mayo funds and gifts from generous benefactors.
Medical education (see schedule o for description)medical education:medical education, research training, continuous medical life-long learning and a committed quest for new knowledge are integral functions of mayo clinic. our world-renowned educational programs inform, instruct, and empower physicians, researchers, medical professionals, patients, students and our communities to improve public health and well-being. these programs span the continuum of health care and ensure the mayo model of care is perpetuated and shared broadly. mayo clinic is committed to providing useful, timely knowledge and skills that reflect its standards of excellence and its dedication to finding answers for unmet patient needs: educating the next generation of physicians, medical researchers and health professionals with transformative curricula that focuses not only on helping the patient, but also improving the health care system;sharing knowledge and innovative best practices freely in the spirit of collaboration to advance the science of medicine and the art of compassionate, patient-centered care;empowering people to manage their health through patient education and shared decision-making medical training;spreading mayo's medical expertise, education and research findings throughout the world to improve health care for all.working collaboratively at a national level to modernize and transform medical education to address areas such as improving health care delivery, physician burn-out, population health issues, and team-based care. the educational activities of mayo clinic are centered in mayo clinic college of medicine and science's five schools: 1. mayo clinic school of graduate medical education is one of the nation's oldest and largest schools of graduate medical education with annual enrollment of approximately 1,800 resident and fellow physicians in training. the school trains doctors in over 300 residency and fellowship programs, representing virtually every medical specialty. in addition, many graduates complete mayo clinic quality academy training - a concerted effort to educate and prepare trainees to continuously explore ways to improve patient safety, quality care and eliminate health disparities. 2. mayo clinic alix school of medicine provides a four-year medical education program leading to doctor of medicine degrees and joint md/
Revenue grew from $4.6B (FY2013) to $7.9B (FY2024) across 12 reported years.
Financial snapshot
Operating margin
20.4%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$26.7B
Total liabilities
$10.2B
Net assets
$16.5B
Salaries & benefits
$3.8B
61% of expenses
Board members
32
18 independent
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $7,929,118,794▲6.8% | $6,313,480,074▲2.2% | $16,509,435,952▲23.3% | $26,682,635,058▲14.3% | 990 |
| 2023 | $7,424,970,925▲4.9% | $6,179,398,335▲8.8% | $13,384,226,634▲6.8% | $23,339,620,165▲5.6% | 990 |
| 2022 | $7,075,354,210▼11.5% | $5,677,955,626▼1.6% | $12,529,468,678▲20.7% | $22,107,639,425▲7.6% | 990 |
| 2021 | $7,993,241,004▲19.3% | $5,773,119,389▲4.2% | $10,377,752,525▲87.4% | $20,543,802,362▲24.3% | 990 |
| 2020 | $6,700,100,651▼1.7% | $5,537,812,686▼2.6% | $5,536,537,598▲46.9% | $16,528,218,881▲25.9% | 990 |
| 2019 | $6,819,422,921▲6.2% | $5,684,760,529▲1.0% | $3,768,205,733▲24.3% | $13,128,051,185▲6.7% | 990 |
| 2018 | $6,423,359,494▲4.6% | $5,627,787,651▼3.5% | $3,031,469,406▲43.9% | $12,305,407,265▲8.8% | 990 |
| 2017 | $6,142,231,316▲19.2% | $5,829,645,761▲19.1% | $2,106,930,618▲5.7% | $11,310,805,903▲7.0% | 990 |
| 2016 | $5,152,134,383▲9.2% | $4,894,713,095▲10.1% | $1,992,769,263▼24.5% | $10,567,276,989▲5.1% | 990 |
| 2015 | $4,716,398,592▲20.3% | $4,445,052,878▲19.4% | $2,639,595,466▲1.7% | $10,051,482,383▲1.8% | 990 |
| 2014 | $3,919,688,726▼14.0% | $3,723,702,641▼10.8% | $2,595,759,498▼29.5% | $9,872,787,913▼0.9% | 990 |
| 2013 | $4,560,196,033 | $4,176,701,522▲14.3% | $3,680,441,742▲154% | $9,966,983,729▲16.8% | 990 |
| 2012 | — | $3,653,597,704▲7.0% | $1,450,872,055▼18.8% | $8,532,788,121▲12.7% | 990 |
| 2011 | — | $3,413,595,379▲15.2% | $1,786,788,223▼18.1% | $7,570,727,549▲9.0% | 990 |
| 2010 | — | $2,962,261,626 | $2,182,343,031 | $6,946,835,499 | 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.
Highest-paid: Gores Md Gregory J — $1,589,132 (0.03% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Gores Md Gregory J | Former Key Employee | 40 | $1,589,132 |
| Krauss Md William E | Physician | 40 | $1,576,058 |
| Lanzino Md Giuseppe | Physician | 40 | $1,554,724 |
| Clarke Md Michelle J | Physician | 40 | $1,495,190 |
| Marsh Md W Richard | Dir-spine Center | 40 | $1,479,544 |
| Spinner Md Robert J | Physician | 40 | $1,414,774 |
| Shah Md Vijay | Executive Dean of Research | 40 | $1,193,147 |
| Otley Md Clark C | Former Key Employee | 40 | $1,155,205 |
| Williamson Mary J | Cao-mcs | 40 | $1,146,092 |
| Morice Md William G | Ceo-mcs | 40 | $1,068,576 |
| Arnett Jennifer P | Chief Development Officer | 40 | $1,057,222 |
| Rihal Md Charanjit S | Trustee | 40 | $1,021,863 |
| Callstrom Md Matthew R | Trustee | 40 | $972,259 |
| Pagnano Md Mark W | Physician | 40 | $957,862 |
| Noseworthy Md Peter A | Div Chair-heart Rhythm | 40 | $914,196 |
| Williamson Md Eric E | Physician | 40 | $851,971 |
| Galanis Md Evanthia | Executive Dean of Development | 40 | $845,049 |
| Kendrick Md Michael L | Chair-surgery | 40 | $836,116 |
| Wald Md John T | Former Key Employee | 40 | $826,873 |
| Dowdy Md Sean C | Chief Value Officer | 40 | $816,885 |
| Contractor | Services | Paid |
|---|---|---|
| Mayo Foundation For Medical Education & | Procurement & Med Support Services | $704,037,545 |
| Mayo Collaborative Services Inc | Reference Lab Services | $13,394,877 |
| Mchs Southwest Wisconsin Region Inc | Medical and Support Services | $4,967,349 |
| Mchs Northwest Wisconsin Region Inc | Medical and Support Services | $4,667,129 |
| Mchs Southeast Minnesota Region | Medical and Support Services | $4,246,625 |
987 grants to Mayo Clinic totaling $12.0B, reported by foundations on their Schedule I filings — showing the 15 most recent.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| Mayo Clinic Group Return | Support charitable programs | 2024 | $1,628,083,733 |
| The Skoll Fund | General nonprofit support | 2024 | $4,500,000 |
| T Rowe Price Program For Charitable Giving Inc | Multiple | 2024 | $3,014,450 |
| Dalio Family Fund Inc | Restricted to support ai innovation in the clinical practice | 2024 | $2,500,000 |
| Gs Donor Advised Philanthropy Fund For Wealth Management Inc | Medical / public services | 2024 | $2,431,950 |
| Greater Kansas City Community Foundation | Health, medicine & science | 2024 | $2,032,000 |
| American Heart Association Inc | Research | 2024 | $1,495,488 |
| American Endowment Foundation | Health, general | 2024 | $1,198,906 |
| Foundation For the Carolinas | Charitable gift | 2024 | $1,075,000 |
| The Community Foundation For Northeast Florida Inc | David stein legacy gift | 2024 | $1,000,000 |
| Morgan Stanley Global Impact Funding Trust Inc | Unrestricted general support | 2024 | $782,500 |
| Michael J Fox Foundation For Parkinsons Research | Parkinson's research | 2024 | $776,748 |
| The Us Charitable Gift Trust | For recipient's exempt purpose | 2024 | $670,569 |
| Community Foundation of Jackson Hole | General operating support | 2024 | $625,000 |
| Tulsa Community Foundation | General operations | 2024 | $601,500 |
256 grants totaling $572.1M in FY2024 — showing the 15 largest. All grants made by Mayo Clinic →
| Recipient | Purpose | Amount |
|---|---|---|
| Mayo Clinic | Support charitable programs | $120,250,322 |
| Mayo Clinic | Support charitable programs | $118,423,244 |
| Mayo Clinic | Support charitable programs | $97,499,392 |
| Mayo Clinic Health System-southwest Wisconsin Region Inc | Support charitable programs | $95,970,322 |
| Mayo Clinic | Support charitable programs | $65,126,108 |
| Mayo Clinic | Support charitable programs | $28,352,119 |
| Mayo Clinic | Support charitable programs | $4,570,352 |
| University of California San Francisco | Support research program | $3,185,286 |
| Mayo Clinic | Support charitable programs | $2,547,278 |
| Regents of the University of Minnesota | Support research program | $2,123,485 |
| Indiana University | Support research program | $1,589,992 |
| University of Mississippi Medical Center Hospital | Support research program | $1,327,890 |
| Trustees of the University of Pennsylvania | Support charitable programs | $969,064 |
| The University of Texas M D Anderson Cancer Center | Support research program | $936,053 |
| Emory University | Support charitable programs | $927,650 |
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Data for Mayo Clinic (EIN 41-6011702) 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.