EIN 41-1506440

Mayo Foundation for Medical Education and Research

IRS 501(c) type
501(c)(3)
Num. employees
7,613
Year formed
1915
Most recent tax filings
2014-12-01
Notice
This nonprofit is terminated or no longer active
Mayo Foundation for Medical Education and Research may be no longer active or terminated. Either the organization hasn't filed a Form 990 in many years and appears to no longer be active, or they marked in their most recent Form 990 that they have closed down.
Description
Mayo Clinic has more than 3,300 physicians, scientists and researchers from every medical specialty. They work together with 46,000 allied health employees to care for more than half a million patients each year, from every U.S. state and many countries.
Total revenues
$1,180,538,123
2014
Total expenses
$1,143,526,039
2014
Total assets
$1,819,022,279
2014
Num. employees
7,613
2014

Program areas at Mayo Foundation for Medical Education and Research

Support services (see schedule o)support services:mayo Foundation for Medical Education and Research (mfmer) participates in the direction and guidance of Medical clinics operated by Mayo clinic. These include Mayo clinic, located in rochester, Minnesota, as well as separate, nonprofit Medical clinics operated by Mayo clinic in jacksonville, Florida; scottsdale, Arizona; eau claire, la crosse and menomonie, Wisconsin; albert lea, austin, cannon falls, fairmont, faribault, lake city, mankato, new prague, owatonna, red wing, st. james, springfield, wabasha and waseca, Minnesota; decorah, Iowa and waycross, Georgia. Mfmer's relationship with these clinics is to ensure the highest quality standards of patient care and patient data established at Mayo clinic are consistent throughout the Mayo clinic system so that the Research and educational purposes of Mayo clinic can be accomplished. The extension of the Research, Education and patient care leadership role associated with Mayo clinic into areas outside of rochester creates useful and otherwise unavailable comparative Research and educational opportunities to further Mayo's exempt purpose.mfmer also provides payroll, purchasing, salary & benefit administration and other miscellaneous support services for Mayo clinic and affiliates.
Health information (see schedule o)health information:mfmer is used as a means of making available to the Medical community and to the general public the results of Mayo's Research and Education programs. Global business solutions has service lines encompassing the web, mobile, print and telephonic channels that make Mayo clinics health information, expertise and unique model of care available to millions of people.during 2014, mfmer sold 6,682,362 copies of the Mayo clinic health letter. The health letter is a monthly newsletter containing useful health information for the general public.mfmer sold 280,998 copies of the Mayo clinic embodyhealth newsletter. Most of the copies were sold to employers and member organizations as part of mfmer's corporate wellness program. This program is designed to meet the specific population health management needs of employers and member organizations. The embodyhealth newsletter provides health information to the subscribing organization's employees and members. The embodyhealth newsletter ended in february 2014.mfmer also sells numerous books on health related topics. During 2014, mfmer sold 448,577 copies of books on health related topics to consumers and employers. Mfmer also operates Mayo's informational consumer website, mayoclinic.com, which has thousands of visitors daily.ask Mayo clinic, a telephonic health resource administered by mfmer is a strategic resource available to employers to offer to their employees. This 24-hour nurse line and health advocacy service is staffed by experienced registered nurses who draw on the resources of Mayo clinic to help people choose the right level of care for illnesses and injuries, and access appropriate resources for their personal health needs.other telephonic health resources administered by mfmer to employers to offer to their employees include: healthy living coaching, disease management, and pregnancy advisor. Healthy living online is the web product sold to employers which includes an online health assessment.
Pharmacies and Medical products (see schedule o)pharmacies and Medical products:in order to conveniently accommodate the needs of patients and employees of Mayo clinic, mfmer operates seven pharmacies and three Medical product stores at Mayo clinic sites. In 2014, 1,076,122 prescriptions and 124,500 Medical product orders were filled for Mayo clinic employees, retirees, and patients. These operations are not intended to serve the general public.
Licensing of technology:making the results of Research and technology developed throughout Mayo clinic available to the public is another function of mfmer. This is accomplished through licensing arrangements with others having the capability to distribute the technology to the Medical community and the general public. During 2014, mfmer signed 91 licenses with companies to distribute Mayo clinic technology and inventions. In exchange for these licenses, mfmer receives royalties based on gross revenues generated from the products developed from the licensed technology or invention. The revenues from these royalties are used to further the Research and educational activities of Mayo clinic.mayo clinic ventures (mcv) works with inventors and industry to move innovations from bench to bedside by creating new licensing opportunities, new companies and new products. Mcv has filed more than 5575 patent applications resulting in more than 752 active license agreements with companies in the biomedical and manufacturing industries.technology based ventures (tbv): when clearly defined criteria are met, a technology may be considered for the office of intellectual property's technology based ventures (tbv) program, which commercializes a technology in exchange for equity and acts as a vehicle for a possible Mayo clinic investment into a start-up company. The technology-based ventures program focuses on commercializing Mayo clinic technologies by creating new companies, licensing technologies into existing start-up companies, and investing in venture capital-backed companies. This work is done in close partnership with Mayo treasury, venture capital firms and management teams that have significant experience in the health care industry.as part of this effort, the technology-based ventures program manages a venture capital investment fund. The program co-invests with leading venture capital firms in health care technology companies and seeks to provide a financial return to Mayo clinic to support patient care, Research and Education. Since 1996, the program has invested in over two-dozen companies that are based on Mayo clinic technology or utilize Mayo clinic expertise. During 2013 the fund was reorganized and named as Mayo clinic co-investment fund. The fund now has approval to invest up to $100 million. The fund operates in a collaborative relationship between Mayo clinic ventures and Mayo clinic treasury services.

Who funds Mayo Foundation for Medical Education and Research

Grants from foundations and other nonprofits
GrantmakerDescriptionAmount
Mayo ClinicSupport Charitable Programs$1,048,484
Mayo Clinic Group ReturnSupport Charitable Programs$96,678
Schwab Charitable FundHealth$48,500
...and 5 more grants received

Financials for Mayo Foundation for Medical Education and Research

RevenuesFYE 12/2014
Total grants, contributions, etc.$7,253,361
Program services$1,165,471,498
Investment income and dividends$5,486,135
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$0
Net gain from sale of non-inventory assets$-89,470
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$2,416,599
Total revenues$1,180,538,123

Form 990s for Mayo Foundation for Medical Education and Research

Fiscal year endingDate received by IRSFormPDF link
2014-122016-02-01990View PDF
2013-122014-12-29990View PDF
2012-122013-12-10990View PDF
2011-122012-12-06990View PDF
2010-122011-11-17990View PDF
...and 1 more Form 990

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Data update history
July 26, 2022
Received grants
Identified 2 new grant, including a grant for $308,008 from The Mark Foundation for Cancer Research
June 21, 2021
Received grants
Identified 7 new grant, including a grant for $1,304,736 from Mayo Clinic
August 21, 2019
Used new vendors
Identified 3 new vendors, including , , and
Nonprofit Types
ClinicsMedical research organizationsHeadquarter / parent organizations
Issues
Health
Characteristics
Funds one specific organizationPolitical advocacyConducts researchLobbyingOperates internationallyNational levelTerminated
General information
Address
200 First St SW
Rochester, MN 55905
Metro area
Rochester, MN
County
Olmsted County, MN
Website URL
mayo.edu/ 
Phone
(480) 301-8000
Facebook page
MayoClinic 
Twitter profile
@mayoclinic 
IRS details
EIN
41-1506440
Fiscal year end
December
Taxreturn type
Form 990
Year formed
1915
Eligible to receive tax-deductible contributions (Pub 78)
No
Categorization
NTEE code, primary
H90: Medical Specialty Research
NAICS code, primary
621: Outpatient Health Care Practitioners and Facilities
Parent/child status
Central organization
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