MAYO CLINIC GROUP RETURN
Income Statement
Fiscal Year Start:
Jan 1
Revenues in 2024
$14,891,458,272
Program Services
93%
Other
5%
Government Grants
1%
Investments
<1%
Contributions
<1%
Membership Dues
<1%
Fundraising Events
0%
Expenses in 2024
$14,325,143,800
Salaries & Benefits
45%
Other
22%
Grants
12%
Offices, Occupancy & IT
11%
Fees to Service Providers
7%
Depreciation
3%
Interest
<1%
Advertising & Promotion
<1%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$72,965,654
$74,083,387
+2%
Government Grants
$105,558,676
$152,019,361
+44%
Fundraising Events
$0
$0
-
Program Services
$12,655,320,958
$13,859,193,561
+10%
Membership Dues
$35,249
$17,777
-50%
Investments
$87,638,767
$131,061,444
+50%
Other
$1,049,225,486
$675,082,742
-36%
Total Revenues
$13,970,744,790
$14,891,458,272
+7%
Expenses
2023
2024
Change
Grants
$2,289,344,895
$1,672,735,071
-27%
Benefits to Members
$0
$0
-
Salaries & Benefits
$5,865,765,352
$6,396,931,817
+9%
Fees to Service Providers
$911,888,758
$971,159,486
+6%
Advertising & Promotion
$10,536,914
$8,262,391
-22%
Offices, Occupancy & IT
$1,300,317,061
$1,548,990,757
+19%
Interest
$114,018,403
$127,527,311
+12%
Depreciation
$455,759,599
$494,813,175
+9%
Other
$2,831,329,020
$3,104,723,792
+10%
Total Expenses
$13,778,960,002
$14,325,143,800
+4%
Net income
2023
2024
Change
Net income
+$191,784,788
+$566,314,472
+195%
Functional Expenses
Summary
2023
2024
Change
Program
$11,773,921,271
$12,192,659,102
+4%
Admin
$2,002,558,854
$2,129,335,574
+6%
Fundraising
$2,479,877
$3,149,124
+27%
Total Expenses
$13,778,960,002
$14,325,143,800
+4%
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