Mayo Clinic Group Return

Analysis

Mayo Clinic Group Return is a registered charity in United States, based in Rochester, MN. It received its IRS tax-exemption ruling in March 2014, 12 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Mayo Clinic Group Return reported income of $13.97bn and spending of $13.78bn, spending 99% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $10.42bn to $13.97bn (+34%), an average of +7.6% a year. The sharpest change came in the year to December 2021, when income rose by 17%. Over the whole period it spent 98% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Mayo Clinic Group Return sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within MN. Charities of a similar size with the same main cause include Healthfirst PHSP Inc ($12.09bn), Cleveland Clinic Foundation ($15.60bn) and Corewell Health ($10.37bn).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 7.6% and program service revenue 91% of the total. Compensation of current officers, directors and key employees was $102.9m (0.7% of expenses). Other salaries and wages came to $4.43bn. At year end it held assets of $17.75bn against liabilities of $9.69bn, net assets of $8.06bn. It reported 61,919 employees.