Mayo Foundation for Medical Education

“The following individuals are employed by a related organization: hoffman iii, harry n. Koch, mark b. Litchy m.d., william j. Melvin, kevin b. Nesse m.d., robert e. Sawyer, nan b. Schmidt, bradley d. Weis, shirley a. Resulting in a business relationship with the following individuals who are associated with the related organization as an officer, director, or trustee: hoffman iii, harry n. Schmidt, bradley d. Weis, shirley a. Menkosky, paula e. Brigham, robert f. Hoffman, mary j. The following individuals are employed by a related organization: brigham, robert f. Croft, cheryl r. Hoffman, mary j. Resulting in a business relationship with the following individuals who are associated with the related organization as an officer, director, or trustee: brigham, robert f. Hoffman, mary j. Lindahl, roger a., lohkamp, christie a., rogers, james a. Have a business relationship as they serve as an officer, director, or trustee of mayo clinic gbs mauritius, a related taxable entity. Calamia m.d., kenneth t., croft, cheryl r., hoffman, mary j. Have a business relationship as they serve as an officer, director, or trustee of mchs physicians in waycross, inc., a related taxable entity. Bolton, jeffrey w., goldman, daniel s., herbert, david p., lindahl, roger a., matthias, mark a., oviatt, jonathan j. Have a business relationship as they serve as an officer, director, or trustee of mayo holding company, a related taxable entity. Froisland, jeffrey r., hoffman iii, harry n., oviatt, jonathan j. Have a business relationship as they serve as an officer, director, or trustee of mayo insurance company, ltd., a related taxable entity. Bolton, jeffrey w., collins, craig c., herbert, david p., litchy m.d., william j., matthias, mark a., nesse m.d., robert e., rotty, brian w., sandeen, darrell l. Have a business relationship as they serve as an officer, director, or trustee of mmsi, inc., a related taxable entity. Bolton, jeffrey w., estes, daniel d., rogers, james a. Have a business relationship as they serve as an officer, director, or trustee of resoundant, inc., a related taxable entity. Froisland, jeffrey r., menkosky, paula e. Have a business relationship as they serve as an officer, director, or trustee of superblock 3 property owners association, a related taxable entity.”

“Mayo clinic and other related companies provide management services to the entire system of entities. Since the entities are related organizations, compensation for the officers, directors, key employees, and highest compensated employees has been disclosed in part vii and schedule j as required.”

“The sole corporate member is mayo clinic.”

“Directors of mayo foundation for medical education and research are designated by the sole member.”

“Certain transactions require approval by the member before action can be taken such as amendment to the articles and bylaws, merger, or other restructuring, and incurrence of debt.”

“The filing organization has no committees with the authority to act on behalf of the board, therefore, there is no documentation for part vi, section a, line 8b.”

“The form 990 is prepared by mayo corporate tax with assistance from site accounting staff. The tax return goes through two levels of review within the corporate tax unit. It is then reviewed by an officer of the filing organization. A copy of the form 990 is then provided to each member of the filing organization's governing body via u.s. Mail, e-mail, or distribution at a board meeting. All questions are addressed prior to filing the form 990.”

“Mayo clinic and its affiliates have a comprehensive conflict of interest policy applicable to all of the affiliated entities and to all directors, officers, and employees of those entities. All current and former officers, directors, trustees, key employees and highest compensated employees who we anticipate will be listed on a form 990 are asked to complete an "annual tax and compliance disclosure" form. This information is reviewed by both the corporate tax department and the office of conflict of interest review. All disclosures of current or proposed activity that require action under the policy are the subject of ongoing review and action through the office of conflict of interest review and the conflict of interest review board. Involved individuals are informed of all required action. Many types of relationships that could create conflicts of interest are prohibited. Other types of relationships are permitted subject to compliance with the management plan established by the conflict of interest review board. A common management strategy for permitted activities is to require bilateral recusal and appropriate documentation in the minutes of mayo clinic (and/or affiliate) and the outside entity. Additional conflict of interest policies and procedures exist for certain entities concerning research contracts and other types of potential conflicts.”

“The filing organization is an affiliate of mayo clinic. Mayo clinic and its affiliates have a coordinated process for reviewing and approving compensation and benefits for physicians and administrative leadership. The following independent approval process occurs annually in the fall for the next year's compensation. The salaries of the president and vice president were reviewed by the mayo clinic salary and benefits committee and/or the mayo clinic governance committee pursuant to the process described below for physician and administrative leadership. The mayo clinic salary and benefits committee initially reviews the compensation of physicians and administrative leadership for the arizona, florida, and rochester, minnesota campuses. The committee is comprised of mayo employees, but is independent for internal revenue code 4958 for the individuals whose salary is reviewed (with recusal where appropriate). For those individuals for which this committee can not serve as the independent review, their compensation and benefits are reviewed by the governance committee (described below). The salary and benefits committee uses comparability data (including third-party benchmarking surveys) in its review and documents decisions in its minutes. The mayo clinic committee on officer succession, compensation, and governance (governance committee) is comprised of seven of the external independent members of the mayo clinic board of trustees. This group reviews the compensation and benefits for physicians from all campuses, including the mayo clinic health system locations, as well as certain senior administrative and executive leadership (including all persons believed to be disqualified persons as defined for purposes of irc section 4958). This process establishes acceptable ranges for various positions, levels, and specialties. The committee uses comparability data (including third-party benchmarking surveys) in its review and documents decisions in its minutes. In addition, the governance committee directly retains an independent third-party compensation consultant to provide relevant, contemporaneous benchmark information for a small group of senior physician, administrative, and executive leadership positions for which an individualized review and recommendation is made.”

“The filing organization's governing documents are not available to the public. The conflict of interest policy is available upon request and also on the mayoclinic.org website. Mayo foundation for medical education and research is an affiliate of mayo clinic. Mayo clinic's consolidated financial statements are available upon request or through the minnesota attorney generals's office.”