Mayo Healthcare Inc

Analysis

Mayo Healthcare Inc is a registered charity in United States, based in Northfield, VT. It received its IRS tax-exemption ruling in January 1946, 80 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Mayo Healthcare Inc reported income of $9.2m and spending of $9.4m, spending 103% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $8.3m to $9.2m (+10.0%), an average of +2.4% a year. Over the whole period it spent 101% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Mayo Healthcare Inc sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 95th percentile within VT. Charities of a similar size with the same main cause include Evenglow Lodge ($9.2m), Cancer Research America NFCR Inc ($9.2m) and Schreiber Center for Pediatric Development ($9.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.0% and program service revenue 96% of the total. Compensation of current officers, directors and key employees was $126k (1.3% of expenses). Other salaries and wages came to $4.0m. At year end it held assets of $7.7m against liabilities of $3.9m, net assets of $3.8m. It reported 165 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.