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Mayo Clinic: endowment and investment office
Mayo Clinic reports $7,917,000,000 in consolidated audited endowment at December 31, 2025. This page follows EIN 41-6011702 and keeps the endowment separate from the hospital's total assets. Dated balance source
Key facts
- Reporting entity
- Mayo Clinic
- Institution type
- academic medical center
- Location of filer
- Rochester, MN
- EIN
- 41-6011702
- Selected financial measure
- Endowment net assets
- Closing value
- $7,917,000,000
- Actual fiscal period end
- December 31, 2025
- Compiled list position
- 2 of 541
- Institutional website listed in return
- Institutional site
Reporting entity and financial scope
Mayo's consolidated endowment combines donor-restricted funds with board-designated funds. The audit describes approximately 2,500 individual endowed funds and distinguishes those funds from operating reserves. The board retains authority to redesignate quasi-endowments. Its consolidated series therefore answers a different question from the parent-only tax return. Entity and reporting scope
This figure follows the filer's endowment definition. It does not establish how much cash is available for general hospital operations. Endowment disclosure
Consolidated Mayo Clinic endowment, including donor-restricted and board-designated funds. The issuer-authored audit is hosted by a news publisher. The parent-only Schedule D series is narrower and is shown separately. The group return is excluded as an overlapping system record. Audit basis
Endowment size and annual history
| Fiscal period end | Endowment net assets, USD | Basis |
|---|---|---|
| 2023-12-31 | $6,597,000,000 | Consolidated audit |
| 2024-12-31 | $7,020,000,000 | Consolidated audit |
| 2025-12-31 | $7,917,000,000 | Consolidated audit |
The selected series moved from $7,020,000,000 at December 31, 2024 to $7,917,000,000 at December 31, 2025. That is a rise of $897,000,000, or 12.78% of the earlier closing balance. This arithmetic describes the change in the reported fund size. Gifts and amounts spent can also change the balance, so the percentage is not an investment performance result. Annual balance evidence
The Form 990 uses a separate reporting boundary. Its own rolling history is shown below so the tax-filing series remains visible. A consolidated audit observation is not appended to the filer-only series as though it measured the same portfolio. Separate tax-filing history
| Fiscal period end | Filer Schedule D closing balance, USD |
|---|---|
| 2020-12-31 | $5,061,662,985 |
| 2021-12-31 | $6,117,351,716 |
| 2022-12-31 | $5,488,591,144 |
| 2023-12-31 | $5,814,067,644 |
| 2024-12-31 | $6,187,684,340 |
Endowment flows and spending
The consolidated audit reports $345,000,000 appropriated from endowment in 2025, compared with $328,000,000 in 2024. The 2025 amount includes $173,000,000 without donor restrictions and $172,000,000 with donor restrictions. These are appropriations reported in the endowment reconciliation, not total charity care or hospital operating expenses. Audited endowment note
For the tax period ending December 31, 2024, Schedule D begins with $5,814,067,644 in endowment. It records $96,360,887 in contributions. The investment earnings, gains and losses line is $541,577,480. The earnings line is a dollar accounting amount. Calculating a time-weighted return would require information about the timing of external cash flows and the portfolio's return calculation. Schedule D roll-forward
The same Schedule D reports $264,321,671 for other expenditures for facilities and programs. These retain the tax form's labels. A program expenditure can support a different use from a grant, and an administrative expense is another line. Their dollar amounts do not establish an annual spending policy based on average portfolio values. Disclosed endowment uses
Portfolio disclosure and investment oversight
Schedule D classifies the closing endowment as board-designated or quasi-endowment 45.13%, permanent endowment 31.59%, term endowment 23.28%. These percentages concern fund restrictions. They are not weights in stocks, bonds or alternative investments, and no asset-allocation donut is derived from them. Restriction categories
Hospital finances and community benefit
The Form 990 for the period ending December 31, 2024 reports $26,682,635,058 in total assets, $7,929,118,794 in total revenue, $6,313,480,074 in total expenses. These are filer-wide figures. Total assets can include property, patient receivables and operating resources outside the endowment. Revenue and expenses describe annual activity; the endowment figure is a closing stock of assets. Tax-filing financial snapshot
No community-benefit dollar amount is assigned from this filer's available Schedule H fields. A hospital foundation can support care without operating a licensed hospital itself. Endowment expenditures therefore do not automatically equal the hospital's financial assistance or its total community-benefit expense. Filer financial record
The IRS explains that organizations operating tax-exempt hospital facilities face additional requirements under Section 501(r). Those requirements concern community health needs assessments, financial assistance, limits on charges and billing and collection. The rules apply at the facility level. Neither an endowment balance nor a reported community-benefit amount establishes that every requirement has been satisfied. IRS hospital requirements
Comparison with our compiled hospital list
Mayo Clinic is number 2 in our compiled list of 541 hospital-related endowment records. The entries below are nearby by selected dollar size. This is our own compilation of public disclosures. It is not a NACUBO peer group, a ranking of investment skill or a comparison of clinical outcomes. Full compiled list
| Reporting entity | Selected balance, USD | Fiscal end |
|---|---|---|
| Childrens Hospital Medical Center | $6,278,876,440 | 2025-06-30 |
| The Cleveland Clinic Foundation | $6,242,484,000 | 2025-12-31 |
| Shriners Hospitals For Children | $11,283,968,000 | 2025-12-31 |
The institutions have different reporting dates and legal boundaries. Some records cover a system, while others cover an operating hospital or supporting foundation. Their investment pools can overlap. The table gives scale context only; its balances should not be added together as a national endowment total. Comparison evidence
Sources
Related profiles
- Cincinnati Children's (USD 6.28 billion)
- The Cleveland Clinic Foundation (USD 6.24 billion)
- Mass General Brigham (USD 5.29 billion)
- Rice University (USD 8.50 billion)
- Brown University (USD 9.50 billion)
- New York University (USD 7.44 billion)
