MAYO CLINIC GROUP RETURN
PO BOX 4007, ROCHESTER, MN · IRS data through FY2024
Revenue, expenses and net assets
Revenue Expenses Net assets
| Tax year | Revenue | Expenses | Net assets |
|---|---|---|---|
| FY2024 | $14,891,458,272 | $14,325,143,800 | $8,675,937,713 |
| FY2023 | $13,970,744,790 | $13,778,960,002 | $8,059,039,057 |
| FY2022 | $12,568,376,619 | $12,426,269,888 | $7,731,405,514 |
| FY2021 | $12,644,661,653 | $12,310,001,707 | $7,746,105,482 |
| FY2020 | $10,820,544,610 | $10,655,112,004 | $7,266,905,074 |
| FY2019 | $10,416,976,478 | $9,951,608,821 | $7,045,062,279 |
| FY2018 | $11,182,496,672 | $10,907,256,988 | $6,538,367,163 |
| FY2017 | $11,054,443,065 | $10,460,754,172 | $6,314,651,837 |
| FY2016 | $9,524,402,705 | $9,232,511,420 | $5,674,324,533 |
Where the revenue came from
| Source | Amount | % of revenue |
|---|---|---|
| Contributions & grants | $760,981,484 | 5% |
| Program service revenue | $13,859,193,561 | 95% |
Where the money was spent
| Category | Amount | % of expenses |
|---|---|---|
| Program services | $12,192,659,102 | 85% |
| Management & general | $2,129,335,574 | 15% |
| Fundraising | $3,149,124 | 0% |
What the numbers show
- Program service revenue made up 95% of total revenue in FY2024.
- Program services accounted for 85% of functional expenses, management & general 15%, and fundraising 0%.
- 85% of functional expenses went to program services in FY2024. That is higher than 49.6% of 135 Health Care organizations in MN.
- Net assets covered about 7.3 months of expenses at the end of the reporting year. That puts it in the 39th percentile among 467 Health Care organizations in MN.
- Total revenue was higher than 100.2% of 469 Health Care organizations in MN.
- Total revenue rose from $9,524,402,705 in FY2016 to $14,891,458,272 in FY2024, Revenue increased in 6 and decreased in 2 of 8 year-over-year comparisons.
- Revenue covered expenses in each of the 9 reported years, FY2016 to FY2024.
- Net assets grew from $5,674,324,533 to $8,675,937,713 between FY2016 and FY2024.
Figures compared against other organizations of the same NTEE program area in the same state. See the methodology page for how these are calculated and the guide to reading nonprofit financials for their limits.
About this organization
PATIENT CARE, MEDICAL RESEARCH AND MEDICAL EDUCATION
IRS status
| Ruling year | 2014 |
| Subsection | 501(c)(3) |
| Classification | Public charity |
| Program area (NTEE) | E21 — Health Care (in MN) |
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Source: Internal Revenue Service — Exempt Organizations Business Master File (downloaded September 20, 2026), Statistics of Income extracts, Form 990 e-file data, Publication 78 and the Automatic Revocation list. Figures are as reported by the organization; IRS processing may adjust them. This is not a charity rating and not tax advice. Confirm deductibility in IRS Tax Exempt Organization Search.
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