Mayo Clinic

“The following individuals are employed by a related organization: decker m.d., wyatt w. Gorman m.d., r. Scott krahn m.d., lois e. Menkosky, paula e. Resulting in a business relationship with the following individuals who are associated with the related organization as an officer, director, or trustee: decker m.d., wyatt w. Gorman m.d., r. Scott krahn m.d., lois e. Menkosky, paula e. Froisland, jeffrey r. The following individuals are employed by a related organization: brigham, robert f. Buskirk m.d., steven j. Hoffman, mary j. Rupp m.d., william c. 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. Buskirk m.d., steven j. Hoffman, mary j. Rupp m.d., william c. The following individuals are employed by a related organization: bolton, jeffrey w. Brown, william a. Francis, james r. Froisland, jeffrey r. Grosset, jessica a. Hubert, sherry l. Noseworthy m.d., john h. Oviatt, jonathan j. Sandeen, darrell l. Schmidt, bradley d. Thomas, gregory j. Trastek m.d., victor f. Weis, shirley a. Williamson, mary j. Resulting in a business relationship with the following individuals who are associated with the related organization as an officer, director, or trustee: menkosky, paula e. Brigham, robert f. Hoffman, mary j. Bolton, jeffrey w. Brown, william a. Francis, james r. Froisland, jeffrey r. Hubert, sherry l. Noseworthy m.d., john h. Oviatt, jonathan j. Sandeen, darrell l. Weis, shirley a. Cockerill m.d., franklin r., ehman m.d., richard l. Have a business relationship as they serve as an officer, director, or trustee of lobss network support 2002, inc., a related taxable entity. Bolton, jeffrey w., 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., gorman m.d., r. Scott, nesse m.d., robert e., rock m.d., michael g., 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., ehman m.d., richard l. 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 foundation for medical education and research and other related companies provide management services to the entire system of entities which would include the filing organization. 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.”

“Changes were made to articles to enable the organization to operate a donor advised program.”

“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 and is reviewed by the tax director. It is then reviewed by the chair and vice chair of financial reporting, the chair of finance planning and analysis, the chief financial officer, the chair of development, general counsel, the cao, and the ceo. A copy of the form 990 is then provided to each member of mayo clinic's governing body via us 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 the 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. This policy applies to the organization's disregarded entity.”

“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). 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. For the chief executive officer and chief administrative officer of mayo clinic (along with other senior leadership positions), the committee directly retains an independent third-party compensation consultant who annually provides a written report containing a summary of relevant, contemporaneous benchmark information and recommendations regarding the level of compensation for the chief executive officer and chief administrative officer that would be reasonable in light of the benchmark information. The governance committee carefully reviews the benchmark information, discusses it directly with the consultant in an executive session that the chief executive officer and chief administrative officer do not attend, discusses recommended compensation and benefits for the chief executive officer and chief administrative officer, confirms that the recommended compensation and benefits are reasonable in light of the benchmark data, and provides final approval of the recommended amounts.”

“Mayo clinic's articles of incorporation are available through the secretary of state's office or upon request from mayo clinic. Bylaws and other governance documents are available upon request for purposes that mayo clinic deems appropriate. The conflict of interest policy is available on mayo clinic's website or upon request. Mayo clinic's consolidated financial statements and federal form 990 are available upon request or through the minnesota attorney generals's office. Mayo clinic's forms 990-t and 1023 are available upon request.”

“I/c purchased services: program service expenses 101,292,502. Management and general expenses 214,705,554. Fundraising expenses 6,795,188. Total expenses 322,793,244. Other purchased services: program service expenses 145,832,876. Management and general expenses 16,895,307. Fundraising expenses 2,308,164. Total expenses 165,036,347.”

“Pension-post retirement (per fasb asc 715) 1,576,413,863. Pledge change (per fasb asc 958-20) -373,426. Refunds of contributions -162,631. Losses on uncollectible pledges -24,667,980. Change in investment in taxable subsidiary - mhc -5,000,000.”