Mayo Clinic
Mayo Clinic reported $7.93 billion in revenue and $6.31 billion in expenses for calendar year 2024. Of every $100 it spent, $93.63 went to program services, $5.46 to management and general costs and $0.91 to fundraising. Its largest source of revenue was program service revenue such as fees, sales and contracts: 47.7% of the total. The highest compensation it reported for one person was $4,888,096 (TRUSTEE/PRESIDENT/CEO). 8,206 people received more than $100,000 in reportable compensation. Revenue rose 16% between 2019 and 2024. Source: Form 990, 2024.
Where $100 of spending went
Calendar year 2024 · Form 990, Part IX, line 25 · total expenses $6.31BFor context, the median across 5,634 covered health care charities: $86.19 programs, $13.81 management, $0.00 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
Calendar year 2024 · Form 990, Part VIII · total revenue $7.93BThe 990 scorecard · same measures for every charity, no grades
| Measure | 2024 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 93.6% | 85.6% |
| Management & general Part IX 25(C) ÷ 25(A) | 5.5% | 13.7% |
| Fundraising Part IX 25(D) ÷ 25(A) | 0.9% | 0.0% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.02 | $0.00 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 36.1% | 1.3% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 4.9% | 0.1% |
| Program service revenue share Part VIII 2g ÷ 12 | 47.7% | 93.7% |
| Highest reported compensation Part VII-A, columns D–F | $4,888,096 | $975,831 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 0.08% | 1.34% |
| People paid over $100,000 Part VII, line 2 | 8,206 | 27 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 31.4 | 6.6 |
| Independent voting board members Part VI 1a–1b | 18 of 32 | 88.9% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
2024 · Form 990, Part III · the three largest programs by expenseHighest reported compensation
2024 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| TRUSTEE/PRESIDENT/CEO Director/trustee, officer, 1.00 hrs/week | $0 | $4,822,235 | $65,861 | $4,888,096 |
| TRUSTEE/VP Director/trustee, officer, 1.00 hrs/week | $0 | $3,113,840 | $92,959 | $3,206,799 |
| TRUSTEE/VP Director/trustee, officer, 1.00 hrs/week | $0 | $3,110,824 | $91,199 | $3,202,023 |
| TRUSTEE Director/trustee, 1.00 hrs/week | $0 | $2,299,102 | $29,667 | $2,328,769 |
| TRUSTEE/VP Director/trustee, officer, 1.00 hrs/week | $0 | $2,087,648 | $81,916 | $2,169,564 |
| CFO Officer, 1.00 hrs/week | $0 | $1,888,039 | $102,215 | $1,990,254 |
| SECY Officer, 1.00 hrs/week | $0 | $1,785,340 | $53,341 | $1,838,681 |
| TREASURER Officer, 1.00 hrs/week | $0 | $1,655,287 | $93,537 | $1,748,824 |
8,206 people received more than $100,000 in reportable compensation from Mayo Clinic (Part VII, line 2). Compensation of current officers, directors and key employees totaled $22M (Part IX, line 5).
6 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
2024 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b32 · 18 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13Yes
- Document retention policy Part VI 14Yes
- Independent process for top executive pay Part VI 15aNo
- Board given the 990 before filing Part VI 11aYes
- Family or business ties among insiders Part VI 2Yes
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26No
- Lobbying, or a 501(h) election in effect Part IV 4Yes
- Over $15,000 of professional fundraising services Part IV 18Yes
- Over $10,000 of activity outside the U.S. Part IV 14bYes
- Employees Part I, line 530,970
- Volunteers Part I, line 6848
Largest outside contractors
2024 · Form 990, Part VII, Section B · businesses only| 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 |
Individuals listed as contractors are left out. 6 contractors were paid more than $100,000 in all.
Private foundation grants it received
598 private foundations reported grants to Mayo Clinic totaling $112M on their tax year 2023 Form 990-PF returns. See which foundations, on WHOFUNDS.
Source: WHOFUNDS open grant graph, matched from Form 990-PF Part XV.
Correct a figure or respond
Every number above is copied from Mayo Clinic's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for Mayo Clinic, you can publish a response that is linked from this page.
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Of every $100 Mayo Clinic spent in 2024, $93.63 went to programs. The full breakdown, from its IRS Form 990:
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Questions people ask
How much of Mayo Clinic's spending goes to programs?
In calendar year 2024, Mayo Clinic reported that 93.6% of its $6.31 billion in expenses went to program services, 5.5% to management and general and 0.9% to fundraising (Form 990, Part IX).
How much does Mayo Clinic pay its top executive?
The largest total compensation Mayo Clinic reported for one person in calendar year 2024 was $4,888,096, for the role of TRUSTEE/PRESIDENT/CEO (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does Mayo Clinic get its money?
Of $7.93 billion in revenue in calendar year 2024, 36.1% came from contributions and grants (including 4.9% from government grants) and 47.7% from program service revenue (Form 990, Part VIII).
Is Mayo Clinic a registered charity?
The IRS lists EIN 41-6011702 as a 501(c)(3) organization (publicly supported organization (509(a)(2))), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- 2024: Form 990 for calendar year 2024, object 202513219349301796 · read the filing · XML
- 2023: Form 990 for calendar year 2023, object 202433209349305418 · read the filing
- 2022: Form 990 for calendar year 2022, object 202343189349313034 · read the filing
- 2021: Form 990 for calendar year 2021, object 202213189349304741 · read the filing
- 2020: Form 990 for calendar year 2020, object 202113199349308836 · read the filing
- 2019: Form 990 for calendar year 2019, object 202023209349302157 · read the filing
All filings for EIN 41-6011702: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.