Mayo Medical Alumni Association

Analysis

Mayo Medical Alumni Association is a registered charity in United States, based in Rochester, MN. It received its IRS tax-exemption ruling in March 2002, 24 years ago. Its declared purposes cover education, which this site groups under education and training. 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 2022, Mayo Medical Alumni Association reported income of $695k and spending of $681k, spending 98% of its income. Across the 4 years on record, from December 2019 to December 2022, income fell from $958k to $695k (-27%), an average of -10% a year. The sharpest change came in the year to December 2020, when income dropped by 37%. Over the whole period it spent 67% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Mayo Medical Alumni Association sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 74th percentile within MN. Charities of a similar size with the same main cause include A Partnership for Change Inc ($695k), Kingdom Rock Childrens Village Inc ($695k) and Leadership Montana Inc ($694k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 69% and program service revenue 3.1% of the total. At year end it held assets of $2.1m against liabilities of $15k, net assets of $2.1m. It reported 8 employees.