MAYO CLINIC
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 | $7,929,118,794 | $6,313,480,074 | $16,509,435,952 |
| FY2023 | $7,424,970,925 | $6,179,398,335 | $13,384,226,634 |
| FY2022 | $7,075,354,210 | $5,677,955,626 | $12,529,468,678 |
| FY2021 | $7,993,241,004 | $5,773,119,389 | $10,377,752,525 |
| FY2020 | $6,700,100,651 | $5,537,812,686 | $5,536,537,598 |
| FY2019 | $6,819,422,921 | $5,684,760,529 | $3,768,205,733 |
| FY2018 | $6,423,359,494 | $5,627,787,651 | $3,031,469,406 |
| FY2017 | $6,142,231,316 | $5,829,645,761 | $2,106,930,618 |
| FY2016 | $5,152,134,383 | $4,894,713,095 | $1,992,769,263 |
| FY2015 | $4,716,398,592 | $4,445,052,878 | $2,639,595,466 |
| FY2014 | $3,919,688,726 | $3,723,702,641 | $2,595,759,498 |
| FY2013 | $4,560,196,033 | $4,176,701,522 | $3,680,441,742 |
| FY2012 | $3,899,496,167 | $3,653,597,704 | $1,450,872,055 |
| FY2011 | $3,738,795,160 | $3,413,595,379 | $1,786,788,223 |
Where the revenue came from
| Source | Amount | % of revenue |
|---|---|---|
| Contributions & grants | $2,862,668,927 | 43% |
| Program service revenue | $3,783,296,733 | 57% |
Where the money was spent
| Category | Amount | % of expenses |
|---|---|---|
| Program services | $5,911,136,257 | 94% |
| Management & general | $345,097,176 | 5% |
| Fundraising | $57,246,641 | 1% |
What the numbers show
- Program service revenue made up 57% of total revenue in FY2024.
- Program services accounted for 94% of functional expenses, management & general 5%, and fundraising 1%.
- 94% of functional expenses went to program services in FY2024. That is higher than 91.9% of 135 Health Care organizations in MN.
- Net assets covered about 31.4 months of expenses at the end of the reporting year. That puts it in the 80th percentile among 467 Health Care organizations in MN.
- Total revenue was higher than 100% of 469 Health Care organizations in MN.
- Total revenue rose from $3,738,795,160 in FY2011 to $7,929,118,794 in FY2024, Revenue increased in 10 and decreased in 3 of 13 year-over-year comparisons.
- Revenue covered expenses in each of the 14 reported years, FY2011 to FY2024.
- The highest revenue on record here is $7,993,241,004 in FY2021.
- Net assets grew from $1,786,788,223 to $16,509,435,952 between FY2011 and FY2024.
- Contributions and grants made up 22% of revenue in FY2011 and 36% in 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, RESEARCH AND EDUCATION
IRS status
| Ruling year | 1947 |
| 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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