Mayo Clinic

“The following individual(s) is/are employed by a related organization: zorn, christina k., oviatt, jonathan j., noseworthy m.d., john h., murphy, joshua b., lockett, kevin m., hubert, sherry l., froisland, jeffrey r., francis, james r., brown, william a., bolton, jeffrey w., adkins jr., kedrick d., weber, joan a., collins, craig c. Resulting in a business relationship with the following individual(s) who is/are associated with the related organization as an officer, director, or trustee: menkosky, paula e., zorn, christina k., rathbun, jon, oviatt, jonathan j., norby, mark l., murphy, joshua b., hubert, sherry l., froisland, jeffrey r., francis, james r., brown, william a., adkins jr., kedrick d., nesse m.d., robert e., hoffman iii, harry n. The following individual(s) is/are employed by a related organization: zorn, christina k., rathbun, jon, farrugia m.d., gianrico, buskirk m.d., steven j. Resulting in a business relationship with the following individual(s) who is/are associated with the related organization as an officer, director, or trustee: zorn, christina k., rathbun, jon, farrugia m.d., gianrico, buskirk m.d., steven j., lockett, kevin m., the following individual(s) is/are employed by a related organization: johnson, pamela o. Resulting in a business relationship with the following individual(s) who is/are associated with the related organization as an officer, director, or trustee: oviatt, jonathan j., noseworthy m.d., john h., murphy, joshua b., hubert, sherry l., bolton, jeffrey w., adkins jr., kedrick d., weber, joan a., nesse m.d., robert e., williamson, mary j., warner m.d., mark a., nelson m.d., heidi, morice m.d., william g., harper jr., m.d., charles m., gostout m.d., bobbie s., gores m.d., gregory j., gertz m.d., morie a., wald m.d., john t., narr m.d., bradly j., santrach m.d., paula j., whited m.d., brian l., koch, mark b., the following individual(s) is/are employed by a related organization: paige sr., kevin a., menkosky, paula e., krahn m.d., lois e., decker m.d., wyatt w. Resulting in a business relationship with the following individual(s) who is/are associated with the related organization as an officer, director, or trustee: menkosky, paula e., krahn m.d., lois e., decker m.d., wyatt w., froisland, jeffrey r. Hoffman iii, harry n., haeflinger, ricky j. Have a business relationship as they serve as an officer, director, or trustee of bwl holdings, inc, a related taxable entity. Hubert, sherry l., hayes m.d., david l. Have a business relationship as they serve as an officer, director, or trustee of mayo clinic support services, texas, a related taxable entity. Menkosky, paula e., froisland, jeffrey r. Have a business relationship as they serve as an officer, director, or trustee of superblock 3 property owners association, a related taxable entity. Oviatt, jonathan j., murphy, joshua b., hubert, sherry l., adkins jr., kedrick d. Have a business relationship as they serve as an officer, director, or trustee of mayo holding company, a related taxable entity. Oviatt, jonathan j., murphy, joshua b., hoffman iii, harry n., froisland, jeffrey r. Have a business relationship as they serve as an officer, director, or trustee of mayo insurance company, ltd, a related taxable entity. Collins, craig c., nesse m.d., robert e., have a business relationship as they serve as an officer, director, or trustee of mmsi, inc, a related taxable entity. Hoffman iii, harry n., haeflinger, ricky j. Have a business relationship as they serve as an officer, director, or trustee of latigo petroleum, 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.”

“The filing organization amended its bylaws in 2015 to include the following: to promote orderly succession planning or to meet other exceptional demands or opportunities, and with approval of a majority vote of the board of trustees, the board of trustees may consist of up to thirty-two (32) persons, with the additional person being a single public trustee or internal member, for a period not to exceed two years.”

“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 of finance mayo clinic in the midwest, chair of financial and accounting services, chair and vice chair of financial reporting, 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.”

“Mayo clinic and its affiliates have a coordinated process for reviewing and approving compensation and benefits for physicians, executive and senior administrative leadership, along with allied health staff. In addition to any review and approval that may take place at the local entity or regional level, the following independent approval process occurs annually prior to implementation of the respective compensation increase. The compensation and benefits of the chief executive officer (ceo) was reviewed and approved by the process described below for executive leadership. The compensation and benefits of the executive leadership for all campuses, including the mayo clinic health system locations, are reviewed and approved by the mayo clinic board of trustees governance and nominating committee. The mayo clinic board of trustees governance and nominating committee is comprised of nine of the external independent members of the mayo clinic board of trustees. This group reviews and approves the compensation and benefit programs for physicians from all campuses, 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 mayo clinic board of trustees governance and nominating 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 salary and benefit program of the chief investment officer was reviewed and approved by the process described below for senior administrative leadership. The compensation and benefit programs for senior administrative leadership for all campuses, including the mayo clinic health system locations, are reviewed and approved by the mayo clinic board of trustees governance and nominating committee. The mayo clinic board of trustees governance and nominating committee is comprised of nine of the external independent members of the mayo clinic board of trustees. This group reviews and approves the compensation and benefit programs for physicians from all campuses, 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.”

“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 general's office.”

“Mayo clinic is included in a group exemption. The group exemption covers mayo clinic (the central organization) and mayo clinic's affiliated subsidiaries (the subordinate organizations). For 2015, a group return (mayo clinic group return - ein: 38-3952644) was filed that included twenty one of mayo clinic's subordinate organizations. In accordance with reg. 1.6033-2(d)(5), with respect to the central organization, mayo clinic has reported the information required by reg. 1.6033-2(a)(2)(ii)(f), (g) and (h) on its form 990 for the 2015 tax year. This is in lieu of consolidating such information with its subordinate organizations and reporting such information on the 2015 mayo clinic group return.”

“I/c purchased services: program service expenses 561,597,387. Management and general expenses 255,971,960. Fundraising expenses 3,597,269. Total expenses 821,166,616. Other purchased services: program service expenses 170,929,260. Management and general expenses 17,610,940. Fundraising expenses 3,298,961. Total expenses 191,839,161.”

“Pledge change (per fasb asc 958-20) -15,051. Pension-post retirement (per fasb a -91,407,295. Losses on uncollectible pledges -1,107,224. Refunds of contributions -278,027.”