Mayo Clinic Group Return
85% goes to programs $0 to raise $100 Strong reserves Growing revenue
Mayo Clinic Group Return is a 501(c)(3) organization based in Rochester, Minnesota, registered in 2014, with $14,891,458,272 in FY2024 revenue. CharityIndex grades it A, and it directs about 85% of spending to programs.
Po Box 4007, Rochester, MN, 55903 EIN 38-3952644 Since 2014
Revenue (FY2024)
$14.9B
▲ 6.6% vs prior year
Health median: $840K
Expenses (FY2024)
$14.3B
Net assets
$8.7B
Employees
65,470
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A
AProgram efficiency40% of the rating85% to programs · $0 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 Group Return: 85% to programs · $0 to raise $100 earns a A on this criterion. See the exact thresholds →
AFinancial health25% of the rating7 mo reserves · +4% 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 Group Return: 7 mo reserves · +4% margin earns a A 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 Group Return: 5 of 6 checks met earns a A on this criterion. See the exact thresholds →
A+Transparency10% of the rating5 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 Group Return: 5 of 5 disclosure signals earns a A+ on this criterion. See the exact thresholds →
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Mission
Patient care, medical research and medical education
What they do
Medical research (see schedule o)medical researchmayo clinic, as an affiliated group, conducts basic, translational, clinical, and epidemiological research at its campuses in minnesota, arizona, and florida and throughout the mayo clinic health system. the needs of the patients is what drives research at mayo clinic. as doctors treat patients and see opportunities for advancing patient care, they work together with mayo scientists and research teams to develop new and improved diagnostic tools, medications, devices, treatment protocols and more.mayo clinic's unique culture of collaboration and teamwork, and its extensive facilities and resources, make it possible for researchers to unravel and solve complex research questions. answering these questions requires a team of physicians who care for patients with a disease, basic scientists who investigate the condition's molecular basis and epidemiologists who study its effect on populations. this close integration makes it possible to quickly bring proven diagnostics and therapeutics to patients and share this knowledge with the next generation of doctors and scientists.the research activities conducted by the subordinates are conducted at the arizona and florida locations and at several of the health system sites in minnesota and wisconsin. research is concentrated in the areas of cancer, metabolism, neurosciences, neurodegenerative diseases, cardiovascular diseases and gi disorders/transplantation.
Shared services (see schedule o)shared servicesas part of its exempt function, one of the subordinate organizations (mayo foundation for medical education and research) facilitates efforts and shared services on behalf of and for the benefit of mayo clinic and its affiliates. certain services are centralized within the subordinate organization and include finance, human resources, legal, public affairs, supply chain, information technology and various other services. certain costs related to providing these shared services are allocated out or charged to the affiliates. facilitating these efforts and services allows mayo clinic and its affiliates to better conduct their exempt functions by reducing costs, having standardized practices and procedures, and creating economies of scale.
Health professional educationmayo clinic's investments in education inform and empower physicians, researchers, medical professionals, patients, students, and communities to improve public health and well-being, along with preparing the next generation of health care professionals to provide outstanding, compassionate care to patients worldwide. the educational activities of mayo clinic are centered in the mayo clinic college of medicine and science which consists of five schools:- mayo clinic alix school of medicine- mayo clinic school of graduate medical education- mayo clinic graduate school of biomedical sciences- mayo clinic school of health sciences- mayo clinic school of continuous professional developmentmayo clinic, as an affiliated group, offers educational programs and training opportunities on its campuses in rochester, minnesota; scottsdale/phoenix, arizona; and jacksonville, florida and several of the health system sites in minnesota and wisconsin. in affiliation with the mayo clinic college of medicine, the subordinates offer physician residency programs and fellowships in many medical and surgical specialties, training programs for allied health personnel and on-going education for physicians and other health care professionals.many of the students educated through the mayo clinic college of medicine to sustain mayo's unique style of care and prepare the next generation of caregivers would have received some of their education at the subordinate's locations in phoenix/scottsdale, arizona; jacksonville, florida and the health system sites in minnesota and wisconsin.in addition, many of the subordinates have agreements with universities, colleges, and other educational organizations to pro
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 $11.1B (FY2017) to $14.9B (FY2024) across 8 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $9.2BNet assets $8.7B
Operating margin
3.8%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$17.9B
Total liabilities
$9.2B
Net assets
$8.7B
Salaries & benefits
$6.4B
45% of expenses
Board members
186
47 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $14,891,458,272▲6.6% | $14,325,143,800▲4.0% | $8,675,937,713▲7.7% | $17,859,698,606▲0.6% | 990 |
| 2023 | $13,970,744,790▲11.2% | $13,778,960,002▲10.9% | $8,059,039,057▲4.2% | $17,746,970,382▲21.3% | 990 |
| 2022 | $12,568,376,619▼0.6% | $12,426,269,888▲0.9% | $7,731,405,514▼0.2% | $14,629,597,865▼0.7% | 990 |
| 2021 | $12,644,661,653▲16.9% | $12,310,001,707▲15.5% | $7,746,105,482▲6.6% | $14,730,960,803▲5.6% | 990 |
| 2020 | $10,820,544,610▲3.9% | $10,655,112,004▲7.1% | $7,266,905,074▲3.1% | $13,950,857,094▲11.4% | 990 |
| 2019 | $10,416,976,478▼6.8% | $9,951,608,821▼8.8% | $7,045,062,279▲7.7% | $12,521,310,753▲6.7% | 990 |
| 2018 | $11,182,496,672▲1.2% | $10,907,256,988▲4.3% | $6,538,367,163▲3.5% | $11,732,419,125▲8.6% | 990 |
| 2017 | $11,054,443,065 | $10,460,754,172 | $6,314,651,837 | $10,805,288,112 | 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 (FY2024)
Highest-paid: Farrugia Md Gianrico — $4,822,235 (0.03% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Farrugia Md Gianrico | Director/ceo/president | 40 | $4,822,235 |
| Thielen Md Kent R | Director/chair/ceo Fl | 40 | $3,113,840 |
| Gray Md Richard J | Dir/chair/ceo Az/former Key | 40 | $3,110,824 |
| Williams Md Amy W | Dir/vice Chair/exec Dean of Practice | 40 | $2,299,102 |
| Zorn Christina K | Dir/cao/former Officer | 40 | $2,087,648 |
| Pham Md Si M | Physician | 40 | $1,935,509 |
| Dahlen Dennis E | Director/vp/former Officer | 40 | $1,888,039 |
| Murphy Joshua B | Secretary/asst Secy | 40 | $1,785,340 |
| Gorman Paul A | Treasurer | 40 | $1,655,287 |
| Quinones-hinojosa Md Alfredo | Director | 40 | $1,634,549 |
| Ross Christopher J | Chief Information Officer | 40 | $1,545,562 |
| Willman Md Cheryl L | Dir/exec Dir Cancer Programs | 40 | $1,529,732 |
| Nottmeier Md Eric W | Physician | 40 | $1,490,723 |
| Bendok Md Bernard R | Chair-neuro Surgery | 40 | $1,472,468 |
| Meyer Md Fredric B | Dir/exec Dean of Edu | 40 | $1,456,607 |
| Tawk Md Rabih G | Physician | 40 | $1,439,003 |
| Halamka Md John D | President-mayo Clinic Platform | 40 | $1,431,484 |
| Varkey Mbbs Prathibha | Director/president Mchs | 40 | $1,428,714 |
| Zimmerman Md Richard S | Physician | 40 | $1,421,428 |
| Wiechmann Md Robert J | Mchs Clinical Practice Vice Chair Wi | 40 | $1,303,532 |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Knutson Construction Services Rochester | Construction Services | $186,579,848 |
| The Robins and Morton Group | Construction Services | $179,393,707 |
| Right Sourcing Inc | Workforce Support Services | $156,080,635 |
| Morrison Management Specialists | Food Services | $101,570,158 |
| Dpr Construction A General Partnership | Construction Services | $57,897,867 |
Grants received · $1.1M total
10 grants to Mayo Clinic Group Return totaling $1.1M, reported by foundations on their Schedule I filings.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| Greater Washington Community Foundation | General support | 2024 | $10,000 |
| Greater Washington Community Foundation | General support | 2023 | $10,000 |
| The V Foundation | Cancer research | 2022 | $1,000,000 |
| Greater Washington Community Foundation | General support | 2022 | $8,000 |
| Greater Washington Community Foundation | General support | 2022 | $8,000 |
| Greater Washington Community Foundation | General support | 2021 | $8,000 |
| Network For Good Inc | Unrestricted | 2020 | $8,121 |
| Greater Washington Community Foundation | General support | 2020 | $8,000 |
| Greater Washington Community Foundation | General support | 2020 | $8,000 |
| Fidelity Investments Charitable Gift Fund | For grant recipient's exempt purposes | 2019 | $10,000 |
Grants made · $1.7B in FY2024
293 grants totaling $1.7B in FY2024 — showing the 15 largest. All grants made by Mayo Clinic Group Return →
| Recipient | Purpose | Amount |
|---|---|---|
| Mayo Clinic | Support charitable programs | $1,628,083,733 |
| Indiana University | Support research program | $2,967,624 |
| Washington University | Support charitable programs | $2,176,906 |
| Episcopal Diocese of Minnesota | Support charitable purpose | $1,998,350 |
| Trustees of Columbia University | Support charitable programs | $1,730,069 |
| Emory University | Support charitable programs | $1,604,987 |
| Arizona State University | Support research program | $1,242,192 |
| Nexus Family Healing | Support charitable programs | $1,100,000 |
| Regents of the University of California At Irvine | Support research program | $1,055,486 |
| St Jude Childrens Research Hospital Inc | Support charitable programs | $1,048,826 |
| University of Florida | Support research program | $946,634 |
| Icahn School of Medicine At Mount Sinai | Support charitable programs | $853,150 |
| Johns Hopkins University | Support charitable programs | $805,234 |
| Sanford Burnham Prebys Medical Discovery Institute | Support charitable programs | $781,027 |
| University of California San Francisco | Support research program | $656,248 |
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Frequently asked questions
- Is Mayo Clinic Group Return a legitimate nonprofit?
- Yes. Mayo Clinic Group Return is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 38-3952644, based in Rochester, Minnesota. Donations are tax-deductible.
- What is Mayo Clinic Group Return's EIN?
- Mayo Clinic Group Return's Employer Identification Number (EIN) is 38-3952644.
- How much revenue does Mayo Clinic Group Return report?
- Mayo Clinic Group Return reported $14,891,458,272 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much of Mayo Clinic Group Return's spending goes to programs?
- Mayo Clinic Group Return spends about 85% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Mayo Clinic Group Return have?
- CharityIndex grades Mayo Clinic Group Return A, based on program efficiency and fundraising cost.
- How much does Mayo Clinic Group Return's highest-paid employee make?
- The highest reported compensation on Mayo Clinic Group Return's latest Form 990 is $4,822,235, paid to Farrugia Md Gianrico (Director/ceo/president).
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Data for Mayo Clinic Group Return (EIN 38-3952644) 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.