Mayo Clinic 2023 Audit Report

CONSOLIDATED FINANCIAL REPORT,
SUPPLEMENTARY INFORMATION, UNIFORM

GUIDANCE REPORTS AND SCHEDULE
Mayo Clinic
Years Ended December 31, 2023 and 2022
Ernst & Young LLP

Mayo Clinic
Consolidated Financial Report, Supplementary Information,

Uniform Guidance Reports and Schedule
Years Ended December 31, 2023 and 2022
Contents
Independent auditor’s report........................................................................................................ 1
Consolidated financial statements
Consolidated statements of financial position .............................................................................. 4

Consolidated statements of activities ........................................................................................... 5
Consolidated statements of cash flows ........................................................................................ 6
Notes to consolidated financial statements................................................................................... 7
Supplementary Information
Financial Responsibility Supplemental Schedule required by the U.S. Department of

Education ............................................................................................................................... 46
Schedule of Expenditures of Federal Awards ............................................................................ 47
Schedule of Expenditures of Florida State Financial Assistance ................................................ 76
Notes to Schedules of Expenditures of Federal Awards and Florida State Financial
Assistance .............................................................................................................................. 77
Report of Independent Auditors on Internal Control Over Financial Reporting and on

Compliance and Other Matters Based on an Audit of Financial Statements
Performed in Accordance with Government Auditing Standards ............................................ 79
Report of Independent Auditors on Compliance for Each Major Federal Program and
State Financial Assistance Project and Report on Internal Control Over Compliance
Required by the Uniform Guidance and Chapter 10.650, Rules of the Auditor
General of the State of Florida ............................................................................................... 81
Schedule of Findings and Questioned Costs .............................................................................. 86
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Report of Independent Auditors
Board of Trustees
Mayo Clinic
Report on the Audit of the Financial Statements
Opinion
We have audited the consolidated financial statements of Mayo Clinic (“the Clinic”), which
comprise the consolidated statements of financial position as of December 31, 2023 and 2022, and
the related consolidated statements of activities and cash flows for the years then ended, and the
related notes (collectively referred to as the “financial statements”).
In our opinion, the accompanying financial statements present fairly, in all material respects, the
financial position of the Clinic at December 31, 2023 and 2022, and the results of its operations
and its cash flows for the years then ended in accordance with accounting principles generally
accepted in the United States of America.
Basis for Opinion
We conducted our audits in accordance with auditing standards generally accepted in the United
States of America (GAAS) and the standards applicable to financial audits contained in
Government Auditing Standards issued by the Comptroller General of the United States
(Government Auditing Standards). Our responsibilities under those standards are further described
in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report.
We are required to be independent of the Clinic, and to meet our other ethical responsibilities in
accordance with the relevant ethical requirements relating to our audits. We believe that the audit
evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
Responsibilities of Management for the Financial Statements
Management is responsible for the preparation and fair presentation of the financial statements in
accordance with accounting principles generally accepted in the United States of America, and for
the design, implementation, and maintenance of internal control relevant to the preparation and
fair presentation of financial statements that are free of material misstatement, whether due to fraud
or error.
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A member firm of Ernst & Young Global Limited
In preparing the financial statements, management is required to evaluate whether there are
conditions or events, considered in the aggregate, that raise substantial doubt about the Clinic’s
ability to continue as a going concern for one year after the date that the financial statements are
issued.
Auditor’s Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole
are free of material misstatement, whether due to fraud or error, and to issue an auditor’s report
that includes our opinion. Reasonable assurance is a high level of assurance but is not absolute
assurance and, therefore, is not a guarantee that an audit conducted in accordance with GAAS and
Government Auditing Standards will always detect a material misstatement when it exists. The
risk of not detecting a material misstatement resulting from fraud is higher than for one resulting
from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or
the override of internal control. Misstatements are considered material if there is a substantial
likelihood that, individually or in the aggregate, they would influence the judgment made by a
reasonable user based on the financial statements.
In performing an audit in accordance with GAAS and Government Auditing Standards, we:
 Exercise professional judgment and maintain professional skepticism throughout the audit.
 Identify and assess the risks of material misstatement of the financial statements, whether
due to fraud or error, and design and perform audit procedures responsive to those risks.
Such procedures include examining, on a test basis, evidence regarding the amounts and
disclosures in the financial statements.
 Obtain an understanding of internal control relevant to the audit in order to design audit
procedures that are appropriate in the circumstances, but not for the purpose of expressing
an opinion on the effectiveness of the Clinic’s internal control. Accordingly, no such
opinion is expressed.
 Evaluate the appropriateness of accounting policies used and the reasonableness of

significant accounting estimates made by management, as well as evaluate the overall
presentation of the financial statements.
 Conclude whether, in our judgment, there are conditions or events, considered in the
aggregate, that raise substantial doubt about the Clinic’s ability to continue as a going
concern for a reasonable period of time.
We are required to communicate with those charged with governance regarding, among other
matters, the planned scope and timing of the audit, significant audit findings, and certain internal
control-related matters that we identified during the audit.
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Our audits were conducted for the purpose of forming an opinion on the financial statements as a
whole. We have not performed any procedures with respect to the audited financial statements
subsequent to February 16, 2024. The Financial Responsibility Supplemental Schedule required
by the U.S. Department of Education and the Schedules of Expenditures of Federal Awards and
Florida State Financial Assistance as required by Title 2 U.S. Code of Federal Regulations Part
200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal
Awards, and Chapter 10.650, Rules of the Auditor General of the State of Florida, respectively,
are presented for purposes of additional analysis and are not a required part of the financial
statements. Such information is the responsibility of management and was derived from, and
relates directly to, the underlying accounting and other records used to prepare the financial
statements. The information has been subjected to the auditing procedures applied in the audit of
the financial statements and certain additional procedures, including comparing and reconciling
such information directly to the underlying accounting and other records used to prepare the
financial statements or to the financial statements themselves, and other additional procedures in
accordance with GAAS. In our opinion, the information is fairly stated, in all material respects, in
relation to the financial statements as a whole.
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated
February 16, 2024 on our consideration of the Clinic’s internal control over financial reporting and
on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant
agreements and other matters. The purpose of that report is solely to describe the scope of our
testing of internal control over financial reporting and compliance and the results of that testing,
and not to provide an opinion on the effectiveness of the Clinic’s internal control over financial
reporting or on compliance. That report is an integral part of an audit performed in accordance
with Government Auditing Standards in considering the Clinic’s internal control over financial
reporting and compliance.
February 16, 2024, except for the Schedules

of Expenditures of Federal Awards and
Florida State Financial Assistance, for which
the date is June 25, 2024
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Consolidated Statements of Financial Position
December 31, 2023 and 2022 (In Millions)
2023 2022
Assets
Current assets:
Cash and cash equivalents $ 80 $ 64
Accounts receivable for medical services 1,976 1,842
Other receivables 787 759
Other current assets 391 386
Total current assets 3,234 3,051
Investments 18,834 17,256

Other long-term assets 3,428 3,631
Property, plant, and equipment, net 6,431 5,887
Total assets $ 31,927 $ 29,825
Liabilities and net assets
Current liabilities:
Accounts payable $ 847 $ 752
Accrued payroll 873 849
Accrued employee benefits 181 176
Deferred revenue 65 64
Long-term variable-rate debt 620 620
Other current liabilities 491 470
Total current liabilities 3,077 2,931
Long-term debt, net of current portion 4,098 4,121

Accrued pension and postretirement benefits, net of current portion 813 819
Other long-term liabilities 2,303 2,083
Total liabilities 10,291 9,954
Net assets:
Without donor restrictions 16,240 14,808
With donor restrictions 5,396 5,063
Total net assets 21,636 19,871
Total liabilities and net assets $ 31,927 $ 29,825
See notes to consolidated financial statements.
4
Consolidated Statements of Activities
Years Ended December 31, 2023 and 2022 (In Millions)
2023 2022
Without With Without With
Donor Donor Donor Donor
Restrictions Restrictions Total Restrictions Restrictions Total
Revenue, gains, and other support:
Medical service revenue $ 15,077 $ — $ 15,077 $ 13,781 $ — $ 13,781
Grants and contracts 703 — 703 666 — 666
Investment return allocated to current activities 479 57 536 250 23 273
Contributions available for current activities 127 301 428 75 268 343
Other 1,200 — 1,200 1,227 — 1,227
Net assets released from restrictions 442 (442) — 337 (337) —
Total revenue, gains, and other support 18,028 (84) 17,944 16,336 (46) 16,290
Expenses:
Salaries and benefits 9,667 — 9,667 9,170 — 9,170
Supplies and services 5,950 — 5,950 5,377 — 5,377
Depreciation and amortization 663 — 663 624 — 624
Facilities 388 — 388 350 — 350
Finance and investment 192 — 192 174 — 174
Total expenses 16,860 — 16,860 15,695 — 15,695
Income (loss) from current activities 1,168 (84) 1,084 641 (46) 595
Noncurrent and other items:

Contributions not available for current activities, net (17) 190 173 (22) 230 208
Unallocated investment return, net 788 227 1,015 (1,382) (357) (1,739)
Income tax expense (41) — (41) (23) — (23)
Benefit credit 344 — 344 175 — 175
Other (162) — (162) 129 — 129
Total noncurrent and other items 912 417 1,329 (1,123) (127) (1,250)
Increase (decrease) in net assets before other

changes in net assets 2,080 333 2,413 (482) (173) (655)
Pension and other postretirement benefit adjustments (648) — (648) 2,859 — 2,859
Increase (decrease) in net assets 1,432 333 1,765 2,377 (173) 2,204
Net assets at beginning of year 14,808 5,063 19,871 12,431 5,236 17,667
Net assets at end of year $ 16,240 $ 5,396 $ 21,636 $ 14,808 $ 5,063 $ 19,871
5
Consolidated Statements of Cash Flows
Years Ended December 31, 2023 and 2022 (In Millions)
2023 2022
Cash flows from operating activities:
Cash from medical services $ 14,016 $ 12,827
Cash from external lab services 927 938
Cash from grants and contracts 671 658
Cash from benefactors 373 345
Cash from other activities 1,051 1,140
Cash for salaries and benefits (9,576) (8,822)
Cash for supplies, services, and facilities (6,212) (5,798)
Interest and dividends received 303 196
Interest paid (173) (144)
Income taxes paid (62) (33)
Net cash provided by operating activities 1,318 1,307
Cash flows from investing activities:

Purchase of property, plant, and equipment (1,164) (1,177)
Purchases of investments (13,766) (7,711)
Sales and maturities from investments 13,467 6,838
Investment in unconsolidated entities (9) (10)
Net cash used in investing activities (1,472) (2,060)
Cash flows from financing activities:

Restricted gifts, bequests, and other 213 208
Borrowing on long-term debt — 807
Payment of long-term debt (36) (237)
Payment on leases (7) (7)
Net cash provided by financing activities 170 771
Net increase (decrease) in cash and cash equivalents 16 18
Cash and cash equivalents at beginning of year 64 46
Cash and cash equivalents at end of year $ 80 $ 64
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Mayo Clinic
Notes to Consolidated Financial Statements (In Millions)
Note 1. Organization and Summary of Significant Accounting Policies

Organization: Mayo Clinic and its Arizona, Florida, Iowa, Minnesota, Wisconsin and international
affiliates (the Clinic) provide comprehensive medical care and education in clinical medicine and medical
sciences and conduct extensive programs in medical research. The Clinic also provides hospital and
outpatient services, and at each major location, the clinical practice is closely integrated with advanced
education and research programs. The Clinic and most of its subsidiaries have been determined to qualify
as tax-exempt organizations under Section 501(c)(3) of the Internal Revenue Code (the Code) and as a
public charity under Section 509(a)(2) of the Code.
Basis of presentation: Included in the Clinic’s consolidated financial statements are all of its wholly
owned or wholly controlled subsidiaries. All significant intercompany transactions have been eliminated in
consolidation. In addition, these statements follow generally accepted accounting principles applicable to
the not-for-profit industry as described in the Financial Accounting Standards Board (FASB) Accounting
Standards Codification (ASC) Topic 958, Not-for Profit Entities.
Use of estimates: The preparation of financial statements in conformity with U.S. generally accepted
accounting principles (GAAP) requires management to make estimates and assumptions that affect the
reported amounts of assets and liabilities at the date of the financial statements. Estimates also affect the
reported amounts of revenue and expenses during the reporting period. Actual results could differ from
those estimates.
New Accounting Standards:
Effective January 1, 2023, the Clinic adopted Financial Accounting Standards Board Accounting Standard
Update (ASU) No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit
Losses on Financial Instruments. This ASU provides financial statement users with more decision-useful
information about the expected credit losses on financial instruments and other documents to extend
credit held by a reporting entity. The adoption of this ASU did not materially impact the consolidated
financial statements.
Cash and cash equivalents: Cash and cash equivalents include currency on hand, demand deposits
with banks or other financial institutions, and short-term investments with maturities of three months or
less from the date of purchase, which are not managed by the Clinic’s investment managers.
Accounts receivable for medical services: Accounts receivable for medical services are based upon
the estimated amounts expected to be paid from patients and third-party payors.
Inventories: Inventories, consisting primarily of medical supplies and pharmaceuticals, are stated at the
lower of cost or net realizable value.
Investments: Investments in equity and debt securities, including alternative investments, are recorded
at fair value (Notes 4 and 6). Fair value is the price that would be received to sell an asset or paid to
transfer a liability in an orderly transaction between market participants at the measurement date.
Realized gains and losses are calculated based on the average cost method. Investment income or loss
(including realized and unrealized gains and losses on investments, interest, and dividends) is included in
the consolidated statements of activities.
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Mayo Clinic
Note 1. Organization and Summary of Significant Accounting Policies (Continued)
Alternative investments (principally limited partnership interests in absolute return, hedge, private equity,
real estate and natural resources funds) represent the Clinic’s ownership interest in the respective
partnership, which is valued at fair value based on net asset value (NAV) obtained from fund manager
statements and historically audited financial statements. The investments in alternative investments may
individually expose the Clinic to securities lending, short sales, and trading in futures and forward contract
options and other derivative products. The Clinic’s risk is limited to the investment’s carrying value.
It is the Clinic’s intent to maintain a long-term investment portfolio to support research, education and
other activities. Accordingly, the total investment return is reported in the consolidated statements of
activities in two categories. The investment return allocated to current activities is determined by a
formula, which involves allocating five percent of a three-year moving average of investments related to
endowments, and the matching of financing costs for the assets required for operations. Management
believes this return is approximately equal to the real return that the Clinic expects to earn on its
investments over the long term. The unallocated investment return, included in noncurrent and other
items in the consolidated statements of activities, represents the difference between the total investment
return and the amount allocated to current activities, net of investment costs.
Property, plant, and equipment: Property, plant, and equipment are carried at cost if purchased or at
fair value on the date received through affiliation or donation, less accumulated depreciation. Plant and
equipment are depreciated over their estimated useful lives, ranging from three to fifty years using the
straight-line method. Depreciation expense includes amortization of assets recorded under capital leases.
Costs associated with the development and installation of internal-use software are accounted for in
accordance with Intangibles—Goodwill and Other, Internal-Use Software (Subtopic 350-40) of the FASB
ASC. Accordingly, internal-use software costs are expensed or capitalized and amortized according to the
provisions of the accounting standard.
Leases: The Clinic determines if an arrangement is a lease at inception. Operating leases are included
in other long-term assets, other current liabilities, and other long-term liabilities in the consolidated
statements of financial position. Finance leases are included in property, plant, and equipment, other
current liabilities, and other long-term liabilities in the consolidated statements of financial position.
Right-of-use (ROU) assets represent the right to use an underlying asset for the lease term, and lease
liabilities represent the obligation to make lease payments arising from the lease. ROU assets and
liabilities are recognized at the commencement date, based on the present value of lease payments over
the lease term. As most of the leases do not provide an implicit rate, the Clinic uses an incremental
borrowing rate based on the information available at the commencement date in determining the present
value of lease payments. The implicit rate is used when readily determinable. The ROU asset also
includes any lease payments made and excludes lease incentives. The lease term may include options to
extend or terminate the lease when it is reasonably certain the Clinic will exercise the option.
The Clinic defines a short-term lease as any lease arrangement with a lease term of twelve months or
less that does not include an option to purchase the underlying asset. Short-term lease payments are
recognized as expense on a straight-line basis over the lease term and variable lease payments in the
period in which the obligation is incurred.
The Clinic has lease arrangements with lease and non-lease components, which are generally accounted
for separately, except the Clinic has elected the practical expedient to not separate non-lease
components for real estate leases. Additionally, for certain equipment leases, the Clinic applies a portfolio
approach to effectively account for the ROU assets and liabilities.
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Mayo Clinic
Deferred revenue: Deferred revenue consists of payments received in advance for grant, subscription,
and tuition revenue. Deferred revenues are subsequently recognized as revenue in accordance with the
Clinic’s revenue recognition policies.
Deferred compensation: The Clinic offers eligible employees a nonqualified, tax-deferred compensation
retirement plan. Employees defer compensation into the plan on a pretax basis. The compensation
deferred under this plan is credited with earnings and losses as determined by the rate of return on
investments selected by the plan participants. Each participant is fully vested in all deferred
compensation and those earnings credited to their individual accounts. The amounts deferred under this
plan is an unsecured obligation of the Clinic. The balances are reflected in investments and other long-
term liabilities in the consolidated statements of financial position. The related investment return is
reported in unallocated investment return, net, with a corresponding gain/loss representing benefit
expense/income reported in the other - noncurrent section of the consolidated statements of activities.
Asset retirement obligations: The Clinic accounts for the estimated cost of legal obligations associated
with long-lived asset retirements in accordance with Asset Retirement and Environmental Obligations
(Topic 410) of the FASB ASC. The asset retirement liability, recorded in other long-term liabilities, is
accreted to the present value of the estimated future costs of these obligations at the end of each period.
Net assets: Net assets, revenues, gains, and losses are classified based on the existence or absence of
donor or grantor-imposed restrictions. Accordingly, net assets and changes therein are classified and
reported as follows:
Net Assets Without Donor Restrictions - Net assets available for use in general operations and not
subject to donor restrictions. The governing board has designated, from net assets without donor
restrictions, net assets for an operating reserve and board-designated endowment.
Net Assets With Donor Restrictions - Net assets subject to donor-imposed restrictions. Some donor-
imposed restrictions are temporary in nature, such as those that will be met by the passage of time or
other events specified by the donor. Other donor-imposed restrictions are perpetual in nature, where the
donor stipulates that resources be maintained in perpetuity. Gifts of long-lived assets and gifts of cash
restricted for the acquisition on long-lived assets are recognized as revenue when received. Donor-
imposed restrictions are released when a restriction expires, that is, when the stipulated time has
elapsed, when the stipulated purpose for which the resource was restricted has been fulfilled, or both.
Medical service revenue: Medical service revenue is reported at the amount that reflects the
consideration to which the Clinic expects to be entitled in exchange for providing patient care.
Grants and contracts: Reciprocal grants and contracts revenue is recognized when the expenses have
been incurred for the purpose specified by the grantor or in accordance with the terms of the agreement.
Contributed grants and contracts revenue is recorded as conditions are met or immediately if deemed an
unconditional contribution. Grant and contract amounts due to the Clinic are included in other receivables.
Charity and uncompensated care: The Clinic provides health care services to patients who meet
certain criteria under its Charity Care Policy without charge or at amounts less than established rates.
Since the Clinic does not pursue collection of these amounts, they are not reported as revenue. The
estimated cost of providing these services was $58 and $54 in 2023 and 2022, respectively, calculated by
multiplying the ratio of cost to gross charges for the Clinic by the gross uncompensated charges
associated with providing care to charity patients. In addition to the charges related to the direct patient
care provided under the Clinic’s Charity Care Policy, the Clinic has programs offered to benefit the
broader community and other governmental reimbursement programs. The Clinic also participates in
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Mayo Clinic
various state Medicaid programs for indigent patients. The estimated unreimbursed cost of providing
services related to Medicaid programs totaled $624 and $613 in 2023 and 2022, respectively.
Contributions: The Clinic classifies contributions that are available for current activities as revenue,
based on the lack of specific donor restriction or the presence of donor restrictions and the ability of the
Clinic to meet those restrictions within the year. Contributions of a perpetual nature or not available for
current activities are classified in noncurrent and other items in the consolidated statements of activities.
Development expenses of $59 ($42 allocated to current and $17 allocated to noncurrent) and $54 ($32
allocated to current and $22 allocated to noncurrent) were incurred in 2023 and 2022, respectively. The
current portion is recorded in expenses, and the noncurrent portion is netted against contributions not
available for current activities in the consolidated statements of activities. Unconditional promises to give
and contributions are reported at fair value at the time of the gift. An allowance for uncollectible pledges
receivable is estimated, based on a combination of historical experience and specific identification.
Conditional promises to give are recognized at fair value when the barriers to entitlement are overcome or
the possibility that a condition will not be met is remote.
The Clinic periodically receives works of art from various benefactors. These items are unique in nature
and are held on display for the benefit and enjoyment of the Clinic’s patients. It is the Clinic’s policy to
neither capitalize contributed works of art nor record the related contribution revenue.
Income from current activities: The Clinic’s policy is to include in income from current activities all
medical service and other revenue, grants and contracts, investment return allocated to current activities,
contributions available for current activities, net assets released from restrictions, and substantially all
expenses. Contributions not available for current activities, unallocated investment return, income tax
expense, benefit credit, and those items not expected to recur on a regular basis are included in
noncurrent and other items in the consolidated statements of activities.
Noncontrolling interest in subsidiaries: The Clinic attributed income of $6 and $33 for the years
ended December 31, 2023 and 2022, respectively, to noncontrolling interests based on the ownership
percentage of the noncontrolling interests in certain of the Clinic’s consolidated subsidiaries. These
amounts are recognized in net assets without donor restrictions on the consolidated statements of
financial position. The balance in net assets without donor restrictions as of December 31, 2023 and 2022
was $68.
Subsequent events: The Clinic evaluated events and transactions occurring subsequent to December
31, 2023 through February 16, 2024, the date of issuance of the consolidated financial statements. During
this period, there were no subsequent events requiring recognition in the consolidated financial
statements. Additionally, there were no unrecognized events requiring disclosure except as disclosed in
Note 5.
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Note 2. Liquidity and Availability
Financial assets available for general expenditure within one year of the consolidated statement of
financial position date are composed of the following at December 31:
2023 2022
Cash and cash equivalents $ 80 $ 64
Accounts receivable 1,976 1,842
Promises to give 325 319
Grants receivable 173 145
Other receivables 289 295
Investments 12,750 10,495
Total financial assets available within one year $ 15,593 $ 13,160
As part of a liquidity management plan, the Clinic has a policy to structure its financial assets to be
available as its general expenditures, liabilities, and other obligations come due. Cash in excess of daily
requirements is invested in short-term investments. In the event of an unanticipated liquidity need, the
Clinic has $300 of available lines of credit for working capital (see Note 9 - Financing).
The Clinic's endowment funds consist of donor-restricted endowments and funds designated by the board
as endowment. Income from endowments is restricted for specific purposes. As described in Note 13 -
Endowment, under the Clinic spending policy, $303 from the endowments was available as of January 1,
2024 and $280 from the endowments was available at January 1, 2023.
Note 3. Medical Service Revenue

Medical service revenue is reported at the amount that reflects the consideration to which the Clinic
expects to be entitled in exchange for providing patient care. These amounts, representing transaction
price, are due from patients, third-party payors (including health insurers and government programs), and
others and include variable consideration for retroactive revenue adjustments due to settlement of audits,
reviews, and investigations. Generally, the Clinic bills the patients and third-party payors several days
after the services are performed and/or the patient is discharged from the facility. Revenue is recognized
as performance obligations are satisfied.
Performance obligations are determined based on the nature of the services provided by the Clinic.
Revenue for performance obligations satisfied over time is recognized based on actual charges incurred
in relation to total expected (or actual) charges. The Clinic believes that this method provides a faithful
depiction of the transfer of services over the term of the performance obligation based on the inputs
needed to satisfy the obligation. Generally, performance obligations satisfied over time relate to patients
in the Clinic's hospital receiving inpatient acute care services. The Clinic measures the performance
obligation from admission into the hospital to the point when it is no longer required to provide services to
that patient, which is generally at the time of discharge. Revenue for performance obligations satisfied at
a point in time is recognized when goods or services are provided and the Clinic does not believe it is
required to provide additional goods or services to the patient.
Because all of its performance obligations relate to contracts with a duration of less than one year, the
Clinic has elected to apply the optional exemption provided in Revenue from Contracts with Customers
(Topic 606-10-50-14(a)) and, therefore, is not required to disclose the aggregate amount of the
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Note 3. Medical Service Revenue (Continued)

transaction price allocated to performance obligations that are unsatisfied or partially unsatisfied at the
end of the reporting period. The unsatisfied or partially unsatisfied performance obligations referred to
above are primarily related to inpatient acute care services at the end of the reporting period. The
performance obligations for these contracts are generally completed when the patients are discharged,
which generally occurs within days or weeks of the end of the reporting period.
The Clinic determines the transaction price based on standard charges for goods and services provided
to patients, reduced by contractual adjustments provided to third-party payors, discounts provided to
uninsured patients in accordance with the Clinic’s policy, and/or implicit price concessions based on
historical collection experience.
Agreements with third-party payors typically provide for payments at amounts less than established
charges. A summary of the payment arrangements with major third-party payors follows:
• Medicare: Certain inpatient acute care services are paid at prospectively determined rates per
discharge based on clinical, diagnostic, and other factors. Certain services are paid based on
cost-reimbursement methodologies subject to certain limits. Physician services are paid based
upon established fee schedules. Outpatient services are paid using prospectively determined
rates.
• Medicaid: Reimbursements for Medicaid services are generally paid at prospectively determined
rates per discharge, per occasion of service, or per covered member.
• Other: Payment agreements with certain commercial insurance carriers, health maintenance
organizations, and preferred provider organizations provide for payment using prospectively
determined rates per discharge, discounts from established charges, and prospectively
determined daily rates.
Laws and regulations concerning government programs, including Medicare and Medicaid, are complex
and subject to varying interpretation. As a result of investigations by governmental agencies, various
health care organizations have received requests for information and notices regarding alleged
noncompliance with those laws and regulations which, in some instances, have resulted in organizations
entering into significant settlement agreements. Compliance with such laws and regulations may also be
subject to future government review and interpretation, as well as significant regulatory action, including
fines, penalties, and potential exclusion from the related programs. There can be no assurance that
regulatory authorities will not challenge the Clinic’s compliance with these laws and regulations, and it is
not possible to determine the impact (if any) such claims or penalties would have upon the Clinic. In
addition, the contracts that the Clinic has with commercial payors also provide for retroactive audit and
review of claims.
Generally, patients who are covered by third-party payors are responsible for related deductibles and
coinsurance, which vary in amount. The Clinic also provides services to uninsured patients, and offers
those uninsured patients a discount, either by policy or law, from standard charges. The Clinic estimates
the transaction price for patients with deductibles and coinsurance and from those who are uninsured,
based on historical experience and current market conditions. The initial estimate of the transaction price
is determined by reducing the standard charge by any contractual adjustments, discounts, and implicit
price concessions. Subsequent changes to the estimate of the transaction price are generally recorded as
adjustments to medical service revenue in the period of the change. For the years ended December 31,
2023 and 2022, revenue recognized due to changes in its estimates of transaction price concessions for
performance obligations satisfied in prior years was $12 and $14, respectively. Subsequent changes that
are determined to be the result of an adverse change in the patient’s ability to pay are recorded as bad
debt expense. Bad debt expense for the years ended December 31, 2023 and 2022, was not significant.
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Settlements with third-party payors for retroactive adjustments due to audits, reviews, or investigations
are considered variable consideration and are included in the determination of the estimated transaction
price for providing patient care. These settlements are estimated based on the terms of the payment
agreement with the payor, correspondence from the payor, and the Clinic’s historical settlement activity,
including an assessment to ensure it is probable a significant reversal in the amount of cumulative
revenue recognized will not occur when the uncertainty associated with the retroactive adjustment is
subsequently resolved. Estimated settlements are adjusted in future periods as adjustments become
known (that is, new information becomes available) or as years are settled or are no longer subject to
such audits, reviews, and investigations. Adjustments arising from a change in the transaction price for
the years ended December 31, 2023 and 2022 were not significant. Receivables from third-party payors
for final settlements was $64 and $60 for December 31, 2023 and 2022, respectively.
Patients who meet the Clinic’s criteria for charity care are provided care without charge or at amounts less
than established rates. Such amounts which are determined to qualify as charity care are not reported as
revenue.
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Mayo Clinic
The composition of medical service revenue based on the regions of the country in which the Clinic
operates, its lines of business, and timing of revenue recognition for the years ended December 31, 2023
and 2022, are as follows:
Year Ended December 31, 2023

Midwest Southeast Southwest Total
Hospital $ 5,583 $ 1,271 $ 1,566 $ 8,420
Clinic 3,645 957 1,020 5,622
Senior Care and Nursing Home 15 — 15
Other 94 2 — 96
Total patient care service revenue 9,337 2,230 2,586 14,153
External lab 924 — — 924

Total medical service revenue $ 10,261 $ 2,230 $ 2,586 $ 15,077
Timing of revenue and recognition:

At time services are rendered $ 4,663 $ 959 $ 1,020 $ 6,642
Services transferred over time 5,598 1,271 1,566 8,435
Total $ 10,261 $ 2,230 $ 2,586 $ 15,077

Midwest Southeast Southwest Total
Hospital $ 5,210 $ 1,089 $ 1,294 $ 7,593
Clinic 3,404 844 961 5,209
Senior Care and Nursing Home 15 — — 15
Other 62 1 — 63
Total patient care service revenue 8,691 1,934 2,255 12,880
External lab 901 — — 901

Total medical service revenue $ 9,592 $ 1,934 $ 2,255 $ 13,781
Timing of revenue and recognition:

At time services are rendered $ 4,367 845 961 $ 6,173
Services transferred over time 5,225 1,089 1,294 7,608
Total $ 9,592 $ 1,934 $ 2,255 $ 13,781
Hospital revenue includes a variety of services mainly covering inpatient procedures requiring overnight
stays or outpatient operations that require anesthesia or use of complex diagnostic and surgical
equipment, as well as emergency care for traumas and other critical conditions. Clinic revenue includes
services mainly focused on the care of outpatients covering primary and specialty health care needs. The
Clinic's practice is to record certain radiology, pathology, and other hospital related services in the
Midwest region as clinic revenue in the amount of $1,130 and $1,024 for the years ended December 31,
2023 and 2022, respectively. Examples of revenue at the time services are rendered include clinical
services, lab and transport, and services transferred over time include hospital and senior care revenue.
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Mayo Clinic

The composition of medical service revenue by payor for the years ended December 31 is as follows:
2023 2022
Medicare $ 4,029 $ 3,634
Medicaid 561 565
Contract 8,853 7,916
Other, including self-pay 1,634 1,666
Total $ 15,077 $ 13,781
The Clinic’s practice is to assign a patient to the primary payor and not reflect other uninsured balances
(for example, coinsurance and deductibles) as self-pay. Therefore, the payors listed above contain patient
responsibility components, such as coinsurance and deductibles.
Financing component:
The Clinic has elected the practical expedient allowed under FASB ASU 2014-09, Revenue from
Contracts with Customers (Topic 606-10-32-18) and does not adjust the promised amount of
consideration from patients and third-party payors for the effects of a significant financing component due
to the Clinic’s expectation that the period between the time the service is provided to a patient and the
time that the patient or a third-party payor pays for that service will be one year or less. However, the
Clinic does, in certain instances, enter into payment agreements with patients that allow payments in
excess of one year. For those cases, the financing component is not deemed to be significant to the
contract.
Note 4. Fair Value Measurements

The Clinic holds certain financial instruments that are required to be measured at fair value on a recurring
basis. The valuation techniques used to measure fair value under the Fair Value Measurement (Topic
820) of the FASB ASC are based upon observable and unobservable inputs. The standard establishes a
three-level valuation hierarchy for disclosure of fair value measurements. The valuation hierarchy is
based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date.
The three levels are defined as follows:
Level 1: Inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or
liabilities in active markets.
Level 2: Inputs to the valuation methodology include quoted prices for similar assets or liabilities in active
markets, and inputs that are observable for the asset or liability, either directly or indirectly, for
substantially the same term of the financial instrument.
Level 3: Inputs to the valuation methodology are unobservable and significant to the fair value
measurement.
A financial instruments categorization within the valuation hierarchy is based upon the lowest level of
input that is significant to the fair value measurement. The Clinic’s policy is to recognize transfers in and
transfers out as of the actual date of the event or change in circumstances that caused the transfer. There
were no significant transfers or activity within Levels for the years ended December 31, 2023 and 2022.
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Mayo Clinic
Note 4. Fair Value Measurements (Continued)
The following tables present the financial instruments carried at fair value as of December 31, 2023 and
2022, on the consolidated statements of financial position categorized by the valuation hierarchy and
NAV:
December 31, 2023

Total
Level 1 Level 2 Level 3 NAV Fair Value
Assets:
Securities lending collateral $ 10 $ — $ — $ — $ 10
Investments:
Cash and cash equivalents $ 1,137 $ 66 $ — $ — $ 1,203
Fixed-income securities:
U.S. government $ — $ 1,969 $ — $ — $ 1,969
U.S. government agencies $ — $ 840 $ — $ — $ 840
U.S. corporate $ — $ 918 $ — $ — $ 918
Foreign $ — $ 51 $ — $ — $ 51
Common and preferred stocks:
U.S. $ 1,391 $ — $ — $ — $ 1,391
Foreign $ 858 $ — $ 20 $ — $ 878
Funds:
Fixed income $ 398 $ — $ — $ — $ 398
Equities $ 1,107 $ 716 $ — $ — $ 1,823
Less securities under lending
agreement $ (86) $ — $ — $ — $ (86)
Investments at NAV $ — $ — $ — $ 9,363 $ 9,363
Total investments $ 4,805 $ 4,560 $ 20 $ 9,363 $ 18,748
Investments under securities

lending agreement $ 86 $ — $ — $ — $ 86
Other long-term assets:

Trust receivables $ 69 $ 29 $ 120 $ — $ 218
Technology-based ventures $ — $ — $ 268 $ — $ 268
Total other long-term assets $ 69 $ 29 $ 388 $ — $ 486

Total assets at fair value $ 4,970 $ 4,589 $ 408 $ 9,363 $ 19,330
Liabilities:
Securities lending payable $ 10 $ — $ — $ — $ 10
Total liabilities at fair value $ 10 $ — $ — $ — $ 10
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Mayo Clinic
December 31, 2022

Total
Level 1 Level 2 Level 3 NAV Fair Value
Assets:
Securities lending collateral $ 3 $ — $ — $ — $ 3
Investments:
Cash and cash equivalents 1,258 72 — — 1,330
Fixed-income securities:
U.S. government — 1,956 — — 1,956
U.S. government agencies — 711 — — 711
U.S. corporate — 836 — — 836
Foreign — 58 — — 58
U.S. 942 — — — 942
Foreign 646 — 20 — 666
Funds:
Fixed income 327 — — — 327
Equities 1,049 662 — — 1,711
Less securities under lending
agreement (68) — — — (68)
Investments at NAV — — — 8,719 8,719
Total investments 4,154 4,295 20 8,719 17,188
Investments under securities

lending agreement 68 — — — 68
Other long-term assets:

Trust receivables 65 27 112 — 204
Technology-based ventures — — 176 — 176
Total other long-term assets 65 27 288 — 380
Total assets at fair value $ 4,290 $ 4,322 $ 308 $ 8,719 $ 17,639
Liabilities:
Securities lending payable $ 3 $ — $ — $ — 3
Total liabilities at fair value $ 3 $ — $ — $ — $ 3
The following is a description of the Clinic’s valuation methodologies for assets and liabilities measured at
fair value. Fair value for Level 1 is based upon quoted market prices. Fair value for Level 2 is based on
quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in
markets that are not active, and model-based valuation techniques for which all significant assumptions
are observable in the market or can be corroborated by observable market data for substantially the full
term of the assets and liabilities. Inputs are obtained from various sources, including market participants,
dealers, and brokers. Level 3 primarily consists of trusts recorded at fair value based on the underlying
value of the assets in the trust or discounted cash flow of the expected payment streams.
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Mayo Clinic
The trusts reported as Level 3 are primarily perpetual trusts managed by third parties invested in stocks,
mutual funds, and fixed-income securities that are traded in active markets with observable inputs and,
since the Clinic will never receive the trust assets, these perpetual trusts are reported as Level 3. In
addition, technology-based ventures, composed primarily of shares in start-up companies, are recorded
at fair value based on inputs relying on factors such as the financial performance of the company, sales
performance, financial projections, sales projections, management representation, industry
developments, market analysis, and any other pertinent factors that would affect the fair value or based
on the quoted price of an otherwise identical unrestricted security of the same issuer, adjusted for the
effect of the restriction.
The methods described above and those recorded at NAV may produce a fair value calculation that may
not be indicative of net realizable value or reflective of future fair values. Furthermore, while the Clinic
believes its valuation methods are appropriate and consistent with other market participants, the use of
different methodologies or assumptions to determine the fair value of certain financial instruments could
result in a different estimate of fair value at the reporting date.
The following information pertains to those alternative investments recorded at NAV in accordance with
Fair Value Measurement (Topic 820) of the FASB ASC.
At December 31, 2023, alternative investments recorded at NAV consisted of the following:
Redemption Redemption
Fair Unfunded Frequency (If Notice
Value Commitment Currently Eligible) Period
Absolute return/hedge funds (a) $ 4,254 $ 388 Monthly to annually 30–90 days
Private partnerships (b) 5,109 2,043
Total alternative investments $ 9,363 $ 2,431
Total alternative investments $ 8,719 $ 1,938
(a) This category includes investments in absolute return/hedge funds, which are actively managed
commingled investment vehicles that derive the majority of their returns from factors other than the
directional flow of the markets in which they invest. Representative strategies include high-yield
credit, distressed debt, merger arbitrage, relative value, and long-short equity strategies. The fair
values of the investments in this category have been estimated using the NAV per share of the
investments. Investments in this category generally carry “lockup” restrictions that do not allow
investors to seek redemption in the first year after acquisition. Following the initial lockup period,
liquidity is generally available monthly, quarterly, or annually following a redemption request. Over
90 percent of the investments in this category have at least annual liquidity.
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Mayo Clinic

(b) This category includes limited partnership interests in closed-end funds that focus on venture capital,
private equity, real estate, and resource-related strategies. The fair values of the investments in this
category have been estimated using the NAV of the Clinic’s ownership interest in partners’ capital.
Distributions from each fund will be received as the underlying investments of the funds are
liquidated. It is estimated that the underlying assets of most funds will generally be liquidated over a
seven- to ten-year period.
From time to time, the Clinic invests directly in certain derivative contracts that do not qualify for hedge
accounting and are recorded at fair value in investments. Changes in fair value are reported as a
component of net unrealized gains or losses in the investment returns. These contracts are used in the
Clinic’s investment management program to minimize certain investment risks. During the years ended
December 31, 2023 and 2022, the realized and unrealized loss from derivative contracts was not
significant.
The Clinic uses various external investment managers to diversify the investments. The largest allocation
to any investment strategy manager as of December 31, 2023 and 2022 was $881 (6.3 percent) and $801
(6.3 percent), respectively.
The Clinic is required to maintain funds held by trustees under bond indentures and other arrangements.
The trustee-held investments, which primarily consist of mutual funds, were $1,142 and $976,
respectively, at December 31, 2023 and 2022, which includes segregated investments for deferred
compensation plans of $1,129 and $929 at December 31, 2023 and 2022, respectively.
At December 31, 2023 and 2022, cash and mutual funds included segregated investments owned by
Mayo Foundation for Medical Education and Research, a wholly owned subsidiary of the Clinic, for gift
annuity reserves of $116 and $101, respectively.
The Clinic had internally designated investment balances of $3,181 and $2,978 at December 31, 2023
and 2022, respectively, for research, education, and capital replacement and expansion.
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Mayo Clinic
Note 5. Investments in Unconsolidated Entities
The Clinic holds certain investments in unconsolidated entities accounted for in accordance with FASB
Subtopic 323, Investments - Equity Method and Joint Ventures. The investments are presented as other
long-term assets in the consolidated statements of financial position. The Clinic's interest in the
investment income is reflected in the accompanying consolidated statements of operations.
The following table presents investments in unconsolidated entities:
Ownership Carrying Value Carrying Value

Percentage as of as of as of
December 31, 2023 December 31, 2023 December 31, 2022
Sheikh Shakhbout Medical City 25% $ 157 $ 155
Other investees Various $ 7 $ 59
The Clinic entered into a joint venture agreement with Abu Dhabi Health Services Company PJSC
(SEHA) to operate Sheikh Shakhbout Medical City (SSMC), a 741-bed hospital in the United Arab
Emirates in November 2019. In addition to the joint venture agreement, the Clinic entered into a hospital
expertise agreement, brand license agreement, and research contribution agreement with SSMC. The
joint venture had an initial commitment period of twenty years which would have been extended by ten
years if neither party terminated at the conclusion of the initial commitment period. The Clinic had a $150
conditional pledge from Sheikh Shakhbout Medical City at December 31, 2023 and 2022. SEHA has
agreed to acquire the Clinic's interest in SSMC with the transaction successfully closing in the first quarter
of 2024. As part of this transaction, the parties also terminated the joint venture and related agreements.
The summarized financial position and results of operations for significant entities accounted for under the
equity method as of and for the years ended consisted of the following:
2023 2022
As of December 31
Total assets $ 842 $ 920
Total liabilities $ 236 $ 222
Partners equity/net assets $ 842 $ 698
Year Ended December 31

Total revenue $ 586 $ 524
Gain (loss) from current activities $ 4 $ (64)
Note 6. Securities Lending

The Clinic has an arrangement with its investment custodian to lend Clinic securities to approved brokers
in exchange for a fee. Among other provisions that limit the Clinic’s risk, the securities lending agreement
specifies that the custodian is responsible for lending securities and obtaining adequate collateral from
the borrower. Collateral is limited to cash, government securities, and irrevocable letters of credit.
Investments are loaned to various brokers and are returnable on demand. In exchange, the Clinic
receives collateral. The cash collateral is shown as both an asset and a liability on the consolidated
statements of financial position.
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Mayo Clinic
Note 6. Securities Lending (Continued)

At December 31, 2023 and 2022, the aggregate market value of securities on loan under securities
lending agreements totaled $86 and $68, respectively, and the total value of the collateral supporting the
securities was $90 and $70, respectively, which represents 104% and 103% of the value of the securities
on loan at December 31, 2023 and 2022. The cash portion of the collateral supporting the securities as of
December 31, 2023 and 2022 was $10 and $3, respectively. The cash portion is presented in other
current assets and other current liabilities in the consolidated statements of financial position. Noncash
collateral provided to the Clinic is not recorded in the consolidated statements of financial position, as the
collateral may not be sold or repledged. The Clinic’s claim on such collateral is limited to the market value
of loaned securities. In the event of nonperformance by the other parties to the securities lending
agreements, the Clinic could be exposed to a loss.
Note 7. Property, Plant, and Equipment, Net

Property, plant, and equipment, net, at December 31 consisted of the following:
2023 2022
Land $ 589 $ 580

Buildings and improvements 7,663 7,322
Furniture and equipment 4,693 4,633
12,945 12,535
Accumulated depreciation and amortization (7,618) (7,414)
5,327 5,121
Construction in progress 1,104 766
Total property, plant, and equipment $ 6,431 $ 5,887
The above costs and accumulated depreciation include costs for capitalized software, including costs
capitalized in accordance with Intangibles—Goodwill and Other, Internal-Use Software (Topic 350) of the
FASB ASC. The total cost for capitalized software was $771 and $893 at December 31, 2023 and 2022,
respectively. The total accumulated amortization was $582 and $647 at December 31, 2023 and 2022,
respectively. Amortization expense for capitalized software was $67 and $74 for 2023 and 2022,
respectively.
Note 8. Income Taxes

Most of the income received by the Clinic and its subsidiaries is exempt from taxation under Section
501(a) of the Internal Revenue Code. Some of its subsidiaries are taxable entities, and some of the
income received by otherwise exempt entities is subject to taxation as unrelated business income. The
Clinic and its subsidiaries file income tax returns in the U.S., including federal and various state returns,
as well as certain foreign jurisdictions. The statutes of limitations for tax years 2020 through 2022 remain
open in major U.S. taxing jurisdictions in which the Clinic and subsidiaries are subject to taxation.
The Internal Revenue Service (IRS) performed an examination of the tax and information returns of the
Clinic and two subsidiaries and ultimately assessed $12 in taxes for years 2003-2012. The results of this
audit were litigated in the U.S. District Court. On August 6, 2019, the Court issued a summary judgment in
favor of the Clinic. The IRS appealed this decision and on May 13, 2021, the Eighth Circuit Court of
Appeals reversed the summary judgment and remanded the case to the U.S. District Court for trial. The
case was tried in 2022 and the U.S. District Court issued a judgment in favor of the Clinic on December 9,
2022. The IRS disagreed with this ruling and filed an appeal with the Eighth Circuit Court of Appeals on
September 1, 2023. A Request for Oral Argument was filed with the Court, but no date for the hearing has
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Mayo Clinic
Note 8. Income Taxes (Continued)
been assigned. No adjustment has been made to unrecognized tax benefits as the issue has not been
definitively resolved at this time.
The Clinic has reduced the reserve for uncertain tax positions by $2, including interest and penalties,
during the year ended December 31, 2023. As of December 31, 2023 and 2022, the reserve totaled $9
and $11, respectively. It is not anticipated that a significant change in the reserve will occur over the next
12 months.
The Clinic’s practice is to recognize interest and/or penalties related to income tax matters in income tax
expense. The components of tax expense are as follows:
Year ended December 31

2023 2022
Current—federal $ 28 $ 23
Current—state 7 6
35 29
Deferred—U.S. domestic 6 (6)

Total $ 41 $ 23
Cash payments for income taxes were $62 and $33 for the years ended December 31, 2023 and 2022,
respectively.
The Clinic records deferred income taxes due to temporary differences between financial reporting and
tax reporting for certain assets and liabilities of its taxable activities. The following is a summary of the
components of deferred taxes as of December 31:
2023 2022
Deferred compensation $ 9 $ 9
Pension — —
Postretirement benefits 1 2
Net operating loss 2 6
Other 4 6
Total deferred tax asset 16 23
Deferred tax liability (2) (2)

Valuation allowance (10) (10)
Net deferred tax asset $ 4 $ 11
The Clinic had federal net operating losses of $11 and $20 at December 31, 2023 and 2022, respectively.
The Tax Cuts and Jobs Act (TCJA), enacted on December 22, 2017 repealed Net Operating Loss (NOL)
carrybacks while permitting indefinite carryforwards. The Coronavirus Aid, Relief and Economic Security
Act enacted on March 27, 2020 temporarily suspended TCJA repeal of NOL carrybacks allowing for NOLs
arising in tax years beginning after December 31, 2017 and before January 1, 2021 to be carried back to
the five taxable years preceding the taxable year of such loss. During 2023 the Clinic was able to utilize
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Mayo Clinic
Note 8. Income Taxes (Continued)
$9 of the NOLs arising in tax years beginning after December 31, 2018 and before January 1, 2022. Of
the remaining NOLS, $11 will be carried forward.
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Mayo Clinic
Note 9. Financing
Long-term debt at December 31 consisted of the following:
2023 2022
City of Rochester, Minnesota Revenue Bonds issued in various
series, subject to variable interest rates to a maximum rate of
15.00% (the average rate was 3.47% in 2023 and 1.27% in 2022),
principal due in varying amounts from 2028 through 2052 Variable $ 545 $ 545
City of Rochester, Minnesota Revenue Bonds originally issued at
variable interest rate, converted in 2017 to fixed interest rate of
2.20% based on a provision to increase the rate if the federal tax
rate is decreased, the rate has been adjusted to 2.67% effective
January 1, 2018 through 2027, principal due in varying amounts
from 2022 through 2032 Fixed 127 163
City of Rochester, Minnesota Revenue Bonds originally issued with
fixed interest rate of 4.74%, converted in 2020 to fixed interest rate
of 1.54% until 2030, principal due in varying amounts from 2033
through 2038 Fixed 130 130
City of Rochester, Minnesota Revenue Bonds issued in various
series with fixed rate of interest of 4.00%, principal due in varying
amounts from 2044 through 2048 Fixed 200 200
City of Rochester, Minnesota Health Care Facilities Revenue
Refunding Bonds, series 2016B, issued with fixed interest rate of
5.00%, an effective rate of 2.97% in 2023 and 2022 after
amortization of premium, principal due in varying amounts from
2029 through 2036 (unamortized premium of $42 in 2023 and $46
in 2022) Fixed 220 220
City of Rochester, Minnesota Health Care Facilities Revenue Bonds,
series 2022, issued in various series with fixed interest rates
ranging from 3.25% to 5.00%, an effective rate of 3.74% in 2023
and 2022 after amortization of premium principal due in varying
amounts from 2039 through 2057 (unamortized net premium of
$16 in 2023 and 2022) Fixed 289 289
Industrial Development Authority of the City of Phoenix, Arizona
issued in various series, subject to variable interest rates to a
maximum rate of 10.00% (the average rate was 3.51% in 2023 and
0.96% in 2022), principal due in varying amounts from 2048
through 2052 Variable 180 180
City of Jacksonville, Florida Health Care Facilities Revenue
Refunding Bonds, series 2016, issued in various series, subject to
variable interest rates to a maximum rate of 10.00% (the average
rate was 3.55% in 2023 and 1.32% in 2022), principal due in
varying amounts from 2033 through 2047 Variable 125 125
Mayo Clinic Taxable Bonds issued with fixed interest rates ranging
from 3.20% to 4.13%, principal due in varying amounts from 2039
through 2061 Fixed 1,450 1,450
Fixed-rate notes and bonds, payable to financial companies, interest
rates at 1.80% to 4.71%, principal due in varying amounts from
2025 through 2062 Fixed 1,115 1,115
The Industrial Development Authority of the City of Phoenix, Arizona
Health Care Facilities Revenue Bonds, series 2022, issued in various
series with fixed interest rates ranging from 3.75% to 4.00%, an
effective rate of 3.80% in 2023 and 2022 after amortization of
premium, principal due in varying amounts from 2053 to 2057
(unamortized net premium of $3 in 2023 and 2022) Fixed 298 298
Other notes payable 11 12
Unamortized discounts and premiums, net 61 66
Debt issuance cost (15) (16)
4,736 4,777
Long-term variable-rate debt classified as current (620) (620)
Current maturities included in other current liabilities (18) (36)
Long-term debt, net of current portion $ 4,098 $ 4,121
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Mayo Clinic
Note 9. Financing (Continued)
The Clinic’s outstanding revenue bond issues are limited obligations of various issuing authorities payable
solely by the Clinic pursuant to loan agreements between the borrowing entities and the issuing
authorities. Under various financing agreements, the Clinic must meet certain operating and financial
performance covenants.
At December 31, 2023, the $850 of variable-rate bonds consisted of variable-rate demand revenue
bonds. In conjunction with the issuance of the variable-rate demand revenue bonds, the Clinic has
entered into various bank standby purchase and credit agreements in the amount of $230 which will
expire in January 2025. Under the terms of these agreements, the bank will make liquidity loans to the
Clinic in the amount necessary to purchase a portion of the variable-rate demand revenue bonds if not
remarketed. The liquidity loans would be payable over a three- to five-year period, with the first payment
due after December 31, 2024. The Clinic has provided self-liquidity for the remaining $620 of variable-rate
demand revenue bonds, which have been classified as current in the accompanying consolidated
statements of financial position.
The $220 fixed-rate revenue bonds Series 2016B are not callable. The remaining fixed-rate interest
revenue bonds are callable from 2024 to 2058 at the option of the Clinic, at a redemption price of 100
percent of the principal amount or at a price based on U.S. Treasury rates at the time of redemption.
On April 12, 2022 the Clinic issued fixed rate bonds in the amount of $587 ($200 refunding and $387 new
debt issuance) at various coupon rates yielding 3.76 percent to maturity. The bonds are due in 2057 and
the new debt will be used for construction projects.
On May 5, 2022, the Clinic entered into a private placement debt agreement with an insurance company
for $200 at 3.26 percent maturing in 2058. The funds will be used for general corporate purposes.
The following are scheduled maturities of long-term debt for each of the next five years, assuming the
variable-rate demand revenue bonds are remarketed and the standby purchase agreements are
renewed. As described above, if such bonds are not remarketed, $620 may be due in 2024 and $230 may
be due in years from 2025 to 2029.
Years ending December 31:

2024 $ 18
2025 105
2026 5
2027 105
2028 45
Interest payments on long-term debt, net of amounts capitalized for 2023 and 2022, totaled $154 and
$132, respectively. The amount of interest capitalized, net of related interest income, was $12 and $8
during 2023 and 2022. Interest expense totaled $157 and $144 for 2023 and 2022, respectively.
At December 31, 2023 and 2022, the Clinic had unsecured lines of credit available with banks that totaled
$530, with varying renewable terms and interest up to 2.50 percent over various published rates. There
were no amounts drawn during the years ended December 31, 2023 and 2022.
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Mayo Clinic
Note 10. Leases

At December 31, 2023 and 2022, the Clinic had operating and finance leases for facilities and certain
equipment with lease terms ranging from 1 to 20 years, with some options to extend up to five years or
terminate within one year.
Total lease expense for the years ended December 31 consisted of the following:
2023 2022
Operating lease expense $ 30 $ 34
Finance lease expense:

Amortization of right-of-use assets $ 6 $ 6
Interest on lease liabilities 1 1
Total finance lease expense $ 7 $ 7
Short-term lease expense $ 48 $ 28
Consolidated supplemental cash flow information related to leases as of December 31 consisted of the
following:
2023 2022
Cash paid for amounts included in the measurement
of lease liabilities:
Operating cash flows for operating leases $ 57 $ 60
Operating cash flows for finance leases $ 1 $ 1
Financing cash flows for finance leases $ 7 $ 7
Right-of-use assets obtained in exchange for lease obligations:

Operating leases $ 25 $ 18
Finance leases $ 24 $ 4
Consolidated supplemental statement of financial position information related to leases as of the years
ended December 31 consisted of the following:
2023 2022
Operating leases:
Right-of-use assets $ 122 $ 141
Other current liabilities $ 22 $ 23

Other long-term liabilities 127 123
Total operating lease liabilities $ 149 $ 146
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Mayo Clinic
Note 10. Leases (Continued)

2023 2022
Finance leases:
Property, plant, and equipment, gross $ 76 $ 57
Accumulated depreciation 38 36
Property, plant, and equipment, net $ 38 $ 21
Other current liabilities $ 9 $ 6

Other long-term liabilities 27 —
Total finance lease liabilities $ 36 $ 6
Weighted average remaining lease years:

Operating leases 8.94 9.22
Finance leases 5.39 4.14
Weighted average discount rate:

Operating leases 3.44 % 3.35 %
Finance leases 3.38 % 2.98 %
Maturities of lease liabilities for the next five years and thereafter consist of the following:
Operating Finance
2024 $ 30 $ 10
2025 23 7
2026 21 6
2027 19 5
2028 17 5
Thereafter 68 6
Minimum lease payments 178 39
Less amount representing interest 29 3

Net minimum lease payments $ 149 $ 36
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Mayo Clinic
Note 11. Board-Designated Funds
Board-designated funds are subject to expenditure for the following purposes for the years ended
December 31:
2023 2022
Research $ 1,581 $ 1,498
Education 327 312
Buildings and equipment 3 3
Charity care 13 12
Clinical 164 162
Other 1,093 991
Total designation for specified purpose $ 3,181 $ 2,978
At December 31, board designated funds were classified as follows:
2023 2022
Quasi-endowments $ 2,967 $ 2,830
Professional liability reserve 185 119
Other $ 29 $ 29
Total $ 3,181 $ 2,978
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Mayo Clinic
Note 12. Net Assets with Donor Restrictions
The Clinic receives contributions in support of research, education, and clinical activities. Net assets with
donor restrictions were available for the following purposes at December 31:
2023 2022
Subject to expenditure for specified purposes:
Research $ 686 $ 582
Education 59 59
Charity care 32 30
Clinical 89 74
Other 38 30
Total expenditure for specified purposes 1,084 1,020
Subject to passage of time:

Pledges and trusts 682 642
Endowments:
Perpetual in nature:
Research 1,263 1,233
Education 355 304
Charity care 14 14
Clinical 224 222
Other 50 31
Pledges and trusts 269 270
Total perpetual in nature 2,175 2,074
Subject to endowment spending policy:

Research 824 745
Education 370 342
Charity care 52 48
Clinical 166 152
Other 43 40
Total subject to endowment spending policy 1,455 1,327
Total endowments 3,630 3,401
Total net assets with donor restrictions $ 5,396 $ 5,063
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Mayo Clinic
Note 12. Net Assets with Donor Restrictions (Continued)
Net assets were released from donor restrictions as expenditures were made, which satisfied the
following restricted purposes for the years ended December 31:
2023 2022
Research $ 200 $ 180
Education 30 25
Other 31 96
Total net assets released from donor restrictions $ 442 $ 337
Note 13. Endowment
The Clinic’s endowment consists of approximately 2,400 individual funds established for a variety of
purposes. The endowment includes both donor-restricted endowment funds and funds designated by the
Board of Trustees to function as endowments (quasi-endowments). Net assets associated with
endowment funds, including quasi endowments, are classified and reported based on the existence or
absence of donor-imposed restrictions. The Board of Trustees retains the right to re-designate quasi
endowments for other purposes.
The Board of Trustees of the Clinic has interpreted the Minnesota State Prudent Management of
Institutional Funds Act (SPMIFA) as requiring the preservation of the fair value of the original gift as of the
gift date of the donor-restricted endowment funds, absent explicit donor stipulations to the contrary. As a
result of this interpretation, the Clinic retains in perpetuity: (a) the original value of gifts donated to the
permanent endowment, (b) the original value of subsequent gifts to the perpetual endowment, and (c)
accumulations to the perpetual endowment made in accordance with the direction of the applicable donor
gift instrument at the time the accumulation is added to the fund.
In accordance with SPMIFA, the Clinic considers the following factors in making a determination to
appropriate or accumulate donor-restricted funds:
1. The duration and preservation of the fund

2. The purposes of the Clinic and the donor-restricted endowment fund
3. General economic conditions
4. The possible effects of inflation and deflation
5. The expected total return from income and the appreciation of investments
6. Other resources of the Clinic
7. The investment policies of the Clinic
The Clinic has adopted investment and spending policies for endowment assets that attempt to provide a
predictable stream of funding to programs supported by its endowment, while seeking to maintain
purchasing power of the endowment assets. Endowment assets include those assets of donor-restricted
funds that the Clinic must hold in perpetuity or for a donor-specified period(s), as well as quasi-
endowments. Under this policy, as approved by the Board of Trustees, the endowment assets are
invested in a manner that is intended to produce a real return, net of inflation and investment
management costs, of at least five percent over the long term. Actual returns in any given year may vary
from this amount.
To satisfy its long-term rate-of-return objectives, the Clinic relies on a total return strategy in which
investment returns are achieved through both capital appreciation (realized and unrealized) and current
yield (interest and dividends). The Clinic targets a diversified asset allocation that places a greater
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Mayo Clinic
Note 13. Endowment (Continued)
emphasis on equity-based and alternative investments to achieve its long-term objective within prudent
risk constraints.
The Clinic has a policy of appropriating for distribution each year five percent of its endowment fund’s
moving average fair value over the prior 36 months as of September 30 of the preceding year in which the
distribution is planned. In establishing this policy, the Clinic considered the long-term expected return on
its endowment. Accordingly, over the long term, the Clinic expects the current spending policy to allow its
endowment to grow at an average of the long-term rate of inflation. This is consistent with the Clinic’s
objective to maintain the purchasing power of the endowment assets held in perpetuity or for a specific
term, as well as to provide additional real growth through new gifts and investment return.
At December 31, 2023, the endowment net asset composition by type of fund consisted of the following:
Without Donor With Donor
Restrictions Restrictions Total
Donor-restricted funds $ — $ 3,630 $ 3,630

Quasi-endowments 2,967 — 2,967
Total funds $ 2,967 $ 3,630 $ 6,597
Changes in endowment net assets for the year ended December 31, 2023, consisted of the following:

Endowment net assets, beginning of year $ 2,830 $ 3,401 $ 6,231
Investment return:
Investment income 39 44 83
Net appreciation (realized and unrealized) 204 225 429
Total investment return 243 269 512
Contributions — 102 102
Appropriation of endowment assets for expenditure (167) (142) (309)
Other changes:
Transfers to create quasi-endowments 61 — 61
Endowment net assets, end of year $ 2,967 $ 3,630 $ 6,597
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Mayo Clinic
Note 13. Endowment (Continued)
At December 31, 2022, the endowment net asset composition by type of fund consisted of the following:
Donor-restricted funds $ — $ 3,401 $ 3,401

Quasi-endowments 2,830 — 2,830
Total funds $ 2,830 $ 3,401 $ 6,231
Changes in endowment net assets for the year ended December 31, 2022, consisted of the following:

Endowment net assets, beginning of year $ 3,218 $ 3,722 $ 6,940
Investment return:
Investment income 32 34 66
Net depreciation (realized and unrealized) (330) (356) (686)
Total investment return (298) (322) (620)
Contributions — 128 128
Appropriation of endowment assets for expenditure (146) (127) (273)
Other changes:
Transfers to create quasi endowments 56 — 56
Endowment net assets, end of year $ 2,830 $ 3,401 $ 6,231
Note 14. Promises to Give
At December 31, outstanding pledges from various corporations, foundations, and individuals, included in
other receivables and other long-term assets, were as follows:
2023 2022
Pledges due:
In less than one year $ 325 $ 319
In one to five years 311 367
In more than five years 65 64
701 750
Allowance for uncollectible pledges and discounts (30) (38)
Total $ 671 $ 712
32
Mayo Clinic
Note 14. Promises to Give (Continued)
Estimated cash flows from pledge receivables due after one year are discounted using a risk-adjusted
rate, ranging from 1 percent to 6 percent, that is commensurate with the pledges due dates and
established in the year the pledge is received.
The Clinic has received interests in various trusts, primarily split-interest, which are included in other long-
term assets. The trusts are recorded at fair value, based on the underlying value of the assets in the trust
or discounted cash flow using a risk-adjusted discount rate of 5.77 percent and 3.12 percent at December
31, 2023 and 2022, respectively. During the years ended December 31, 2023 and 2022, there were no
contributions recorded related to the split-interest trusts. The balance of the expected payment streams
was $218 and $204 at December 31, 2023 and 2022, respectively.
Note 15. Functional Expenses

The consolidated financial statements present certain expenses that are attributed to more than one
program or supporting function. Therefore, expenses require allocation on a reasonable basis that is
consistently applied. Benefits and payroll taxes are allocated based on factors of either salary expense or
hours worked. Overhead costs that include professional services, office expenses, information
technology, interest, insurance, and other similar expenses are allocated based on a variety of factors,
including revenues, hours worked, and salary expense. Costs related to space, including occupancy,
depreciation and amortization, and property taxes, are allocated on a square footage basis.
The expenses reported in the consolidated statements of activities for the years ended December 31,
2023 and 2022 supported the following programs and functions:
2023
Lab and Graduate and

technology other General and Development Other Total
Patient care ventures Research education administrative expenses activities expenses
Salaries and benefits $ 7,982 $ 190 $ 728 $ 392 $ 290 $ 28 $ 57 $ 9,667
Supplies and services 4,231 1,132 299 94 46 12 136 5,950

Depreciation and
amortization 552 8 69 13 16 1 4 663
Facilities 311 6 20 14 34 1 2 388

Finance and
investment 168 10 20 2 2 — (10) 192
Total $ 13,244 $ 1,346 $ 1,136 $ 515 $ 388 $ 42 $ 189 $ 16,860
2022
Lab and Graduate and

technology other General and Development Other Total
Patient care ventures Research education administrative expenses activities expenses
Salaries and benefits $ 7,664 $ 197 $ 690 $ 343 $ 210 $ 19 $ 47 $ 9,170
Supplies and services 3,789 1,073 280 72 62 11 90 5,377

Depreciation and
amortization 512 8 69 10 22 1 2 624
Facilities 268 5 18 12 44 1 2 350

Finance and
investment 152 9 18 2 2 — (9) 174
Total $ 12,385 $ 1,292 $ 1,075 $ 439 $ 340 $ 32 $ 132 $ 15,695
33
Mayo Clinic
Note 16. Employee Benefit Programs

The Clinic serves as plan sponsor for several defined benefit pension funds and other postretirement
benefits.
Included in other changes in unrestricted net assets at December 31, 2023 and 2022, are the following
amounts, respectively, that have not yet been recognized in net periodic cost: unrecognized actuarial
losses of $620 and $137 and unrecognized prior service benefit of $102 and $63. Actuarial losses are
amortized as a component of net periodic pension cost, only if the losses exceed ten percent of the
greater of the projected benefit obligation or the fair value of plan assets. Unrecognized prior service
benefits are amortized on a straight-line basis over the estimated life of plan participants.
Changes in plan assets and benefit obligations recognized in unrestricted net assets during 2023 and
2022 included the following:
2023 2022
Current-year actuarial (loss) gain $ (482) $ 2,659

Amortization of actuarial loss (1) 246
Current-year prior service cost (116) —
Amortization of prior service credit (49) (46)
Pension and other postretirement benefit adjustments $ (648) $ 2,859
Pension plans:
Obligations and funded status: The following is a summary of the changes in the benefit obligation and
plan assets, the resulting funded status of the qualified and nonqualified pension plans, and accumulated
benefit obligation as of and for the years ended December 31:
2023 2022
Change in projected benefit obligation:
Benefit obligation, beginning of year $ 7,809 $ 12,194
Service cost 383 690
Interest cost 436 370
Actuarial loss (gain) 572 (4,381)
Benefits paid (424) (1,058)
Plan amendments 113 —
Settlements — (6)
Estimated benefit obligation at end of year $ 8,889 $ 7,809
Change in plan assets:

Fair value of plan assets, beginning of year $ 9,965 $ 11,903
Actual return on plan assets 878 (1,188)
Employer contributions 283 314
Benefits paid (424) (1,058)
Settlements — (6)
Fair value of plan assets at end of year $ 10,702 $ 9,965
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Mayo Clinic
Note 16. Employee Benefit Programs (Continued)
2023 2022
Funded status of the plans $ 1,813 $ 2,156
Accumulated benefit obligation $ (8,094) $ (7,361)
Amounts recognized in the consolidated statements of financial position consist of the following at
December 31:
2023 2022
Noncurrent assets $ 1,814 $ 2,164

Noncurrent liabilities $ (1) $ (8)
Net amount recognized $ 1,813 $ 2,156
Components of net periodic benefit cost are as follows for the years ended December 31:
2023 2022
Service cost $ 383 $ 690

Interest cost 436 370
Expected return on plan assets (778) (781)
Amortization of unrecognized:
Prior service benefit (50) (50)
Net actuarial loss — 226
Settlement — 2
Net periodic benefit cost $ (9) $ 457
Plan assets: The largest of the pension funds is the Mayo Clinic Master Retirement Trust Plan, which
holds $10,574 of the $10,702 in combined plan assets at December 31, 2023, and $9,864 of the $9,965
in combined plan assets at December 31, 2022. The investment policies described below apply to the
Mayo Clinic Master Retirement Trust Plan (the Plan).
The Plan employs a global, multi-asset approach in managing its retirement plan assets. This approach is
designed to maximize risk-adjusted returns over a long-term investment horizon, consistent with the
nature of the pension liabilities being funded. The plan asset portfolio’s target allocation for total return
investment strategies, which include public equities, private equities, absolute return, and real assets, is
82.5 percent. The portfolio’s target fixed-income exposure is 17.5 percent. The fixed-income exposure
may include the use of long-term interest rate swap contracts structured to increase the portfolio’s interest
rate sensitivity and thereby provide a hedge of the plan liabilities resulting from falling long-term interest
rates. Investments in private equities, real assets, and absolute return strategies are held to improve
diversification and thereby enhance long-term, risk-adjusted returns. However, recognizing that these
investments are not as liquid as publicly traded stocks and bonds, portfolio investment policies limit
overall exposure to these assets. The portfolio’s allocation to private equities and real assets is limited to
a maximum of 35 percent (with a target allocation of 25 percent), and exposure to absolute return
strategies is limited to a maximum of 30 percent (with a target of 25 percent). The Clinic reviews
performance, asset allocation, and risk management reports for plan asset portfolios on a monthly basis.
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Mayo Clinic

The fair values of the Plan’s assets at December 31, 2023, by asset category, are as follows:
Quoted Prices
in Active Significant Significant
Markets for Observable Unobservable
Identical Assets Inputs Inputs
Assets (Level 1) (Level 2) (Level 3) NAV Total
Cash and cash equivalents $ 208 $ 23 $ — $ — $ 231

Fixed income securities:
U.S. government — 110 — — 110
U.S. corporate — 338 — — 338
Foreign — 28 — — 28
U.S. 979 — — — 979
Foreign 595 — — — 595
Funds:
Equities 94 673 — — 767
Foreign 54 — — — 54
Total investments $ 2,057 $ 1,347 $ — $ 7,170 $ 10,574
The fair values of the Plan’s assets at December 31, 2022, by asset category, are as follows:
Quoted Prices
in Active Significant Significant
Markets for Observable Unobservable
Identical Assets Inputs Inputs
Assets (Level 1) (Level 2) (Level 3) NAV Total
Cash and cash equivalents $ 162 $ 4 $ — $ — $ 166

Fixed income securities:
U.S. government — 95 — — 95
U.S. corporate — 316 — — 316
Foreign — 36 — — 36
U.S. 777 — — — 777
Foreign 479 — — — 479
Funds:
Equities 34 637 — — 671
Foreign 47 1 — — 48
Total investments $ 1,560 $ 1,244 $ — $ 7,060 $ 9,864
36
Mayo Clinic

The following is a description of the Plan’s valuation methodologies for assets and liabilities measured at
fair value. Fair value for Level 1 is based upon quoted market prices. Fair value for Level 2 is based on
quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in
markets that are not active, and model-based valuation techniques for which all significant assumptions
are observable in the market or can be corroborated by observable market data for substantially the full
term of the assets or liabilities. Inputs are obtained from various sources, including market participants,
dealers, and brokers.
A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of
input that is significant to the fair value measurement. The Clinic’s policy is to recognize transfers in and
transfers out as of the actual date of the event or change in circumstances that caused the transfer. There
were no significant transfers in 2023 or 2022.
The methods described above and those recorded at NAV may produce a fair value calculation that may
not be indicative of net realizable value or reflective of future fair values. Furthermore, while the Plan
believes its valuation methods are appropriate and consistent with other market participants, the use of
different methodologies or assumptions to determine the fair value of certain financial instruments could
result in a different estimate of fair value at the reporting date.
The following information pertains to those alternative investments recorded at NAV in accordance with
Fair Value Measurement (Topic 820) of the FASB ASC.
$ 7,170 $ 1,723
$ 7,060 $ 1,485
(a) This category includes investments in absolute return/hedge funds, which are actively managed
commingled investment vehicles that derive the majority of their returns from factors other than the
directional flow of the markets in which they invest. Representative strategies include high-yield
credit, distressed debt, merger arbitrage, relative value, and long-short equity strategies. The fair
values of the investments in this category have been estimated using the NAV per share of the
investments. Investments in this category generally carry “lockup” restrictions that do not allow
investors to seek redemption in the first year after acquisition. Following the initial lockup period,
37
Mayo Clinic

liquidity is generally available monthly, quarterly, or annually following a redemption request. Over
90 percent of the investments in this category have at least annual liquidity.
(b) This category includes limited partnership interests in closed-end funds that focus on venture capital,
private equity, real estate, and resource-related strategies. The fair values of the investments in this
category have been estimated using the NAV of the Plan’s ownership interest in partners’ capital.
These investments cannot be redeemed with the funds. Distributions from each fund will be received
as the underlying investments of the funds are liquidated. It is estimated that the underlying assets of
most funds will generally be liquidated over a seven- to ten-year period.
No plan assets are expected to be returned to the employer during 2024.
Other postretirement benefits:
Obligations and funded status: A summary of the changes in the benefit obligation and plan assets and
the resulting funded status of the other postretirement plans is as follows as of and for the years ended
December 31:
2023 2022
Change in projected benefit obligation:
Benefit obligation at beginning of year $ 867 $ 1,138
Service cost 4 7
Interest cost 48 34
Plan participants contributions 42 41
Amendments 2 —
Medicare subsidy 3 2
Actuarial loss (gain) 10 (255)
Benefits paid (107) (100)
Estimated benefit obligation at end of year $ 869 $ 867
Change in plan assets:

Fair value of plan assets at beginning of year $ — $ —
Employer contributions 65 59
Plan participants contributions 42 41
Benefits paid (107) (100)
Fair value of plan assets at end of year $ — $ —
Funded status of the plan $ (869) $ (867)
Amounts recognized in the consolidated statements of financial position for postretirement benefits
consist of the following at December 31:
2023 2022
Current liabilities $ (57) $ (56)

Noncurrent liabilities (812) (811)
Net amount recognized $ (869) $ (867)
38
Mayo Clinic

Components of net periodic benefit cost for other postretirement benefits are as follows for the years
ended December 31:
2023 2022
Service cost $ 4 $ 7
Interest cost 48 34
Amortization of:
Unrecognized prior service benefit 1 4
Unrecognized net actuarial (gain) loss (1) 20
Net periodic benefit cost for other postretirement benefits $ 52 $ 65
The Clinic has concluded that the prescription drug benefits under its defined benefit postretirement plan
are actuarially equivalent to Medicare Part D under the Medicare Modernization Act (the Act) and that the
Clinic will receive the subsidy available under the Act.
The following reflects the expected future Medicare Part D subsidy receipts:

2024 $ 3
2025 3
2026 3
2027 3
2028 3
2029–2033 16
Plan trend rates are the annual rates of increase expected for the benefits payable from the plan; these
rates include health care cost trends plus the leveraging effect of plan design. The assumed plan trend
rate is 5.50 percent.
Pension and postretirement benefits:
Assumptions: Weighted average assumptions used to determine pension and postretirement benefit
obligations at the measurement date are as follows:
Pension Benefits Postretirement Benefits

2023 2022 2023 2022
Discount rate 5.43% 5.77% 5.42% 5.68%

Rate of compensation increase 3.67% 3.67% —% N/A
39
Mayo Clinic

Weighted-average assumptions used to determine net periodic pension and postretirement benefit cost
are as follows:
Pension Benefits Postretirement Benefits
2023 2022 2023 2022
Discount rate 5.77% 3.12% 5.68% 3.04%

Expected long-term return on plan assets 7.50% 7.50% N/A N/A
Rate of compensation increase 3.70% 3.72% N/A N/A
The Clinic utilizes a building block approach in determining the expected long-term rate of return for its
plan assets. First, historical data on individual asset class returns are studied. Next, the historical
correlation among and between asset class returns is studied under both normal conditions and in times
of market turbulence. Then, various mixes of asset classes are considered under multiple long-term
investment scenarios. Finally, after considering liquidity concerns related to the use of certain alternative
asset classes, the plan sponsor selects the portfolio blend that it believes will produce the highest
expected long-term return on a risk-adjusted basis.
Cash flows:
Contributions: The Clinic expects to contribute $280 to its pension plans in 2024.
Estimated future benefit payments: The following benefit payments, which reflect expected future
service, as appropriate, are expected to be paid:
Pension Postretirement
Benefits Benefits
2024 $ 541 $ 59
2025 524 60
2026 534 61
2027 546 62
2028 558 63
2029–2033 2,962 320
In addition to the defined benefit plans, the Clinic sponsors various defined contribution benefit plans.
Expense recognized by the Clinic for those plans was $142 and $131 for 2023 and 2022, respectively.
Note 17. General and Professional Liability Insurance

The Clinic insures substantially all general and professional liability risks through a combination of a
wholly owned captive insurance company and self-insurance. The insurance program combines various
levels of self-insured retention with excess commercial insurance coverage. Actuarial consultants have
been retained to assist in the estimation of outstanding general and professional liability losses.
40
Mayo Clinic
Note 17. General and Professional Liability Insurance (Continued)
The Clinic’s general and professional liability as reported in the accompanying consolidated statements of
financial position was $164 and $159 at December 31, 2023 and 2022, respectively. Provisions for the
general and professional liability risks are based on an actuarial estimate of losses using the Clinic’s
actual loss data, adjusted for industry trends and current conditions, and considering an evaluation of
claims by the Clinic’s legal counsel. The provision includes estimates of ultimate costs for both reported
claims and claims incurred but not reported.
Activity in the liability is summarized as follows for the years ended December 31:
2023 2022
Balance, beginning of year $ 159 $ 133
Incurred related to captive insurance company liability:

Current year 35 30
Prior years 20 12
Total incurred 55 42
Paid related to captive insurance company liability:

Current year (6) (1)
Prior years (40) (24)
Total paid (46) (25)
Net change in self-insurance liability (4) 9

Balance, end of year $ 164 $ 159
Note 18. Other Receivables, Other Current and Long-Term Assets, and Other Current and Long-
Term Liabilities
At December 31, other receivables consisted of the following:
2023 2022
Pledges receivable $ 325 $ 319

Grants receivable 173 145
Pharmacy receivable 74 58
Rebates receivable 73 34
Interest receivable 40 28
Royalty receivable 11 25
Other tax receivable 5 7
Other 86 143
Total other receivables $ 787 $ 759
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Mayo Clinic
Term Liabilities (Continued)
At December 31, other current assets consisted of the following:
2023 2022
Inventories $ 234 $ 218

Prepaid expenses 148 166
Other 9 2
Total other current assets $ 391 $ 386
At December 31, other long-term assets consisted of the following:
2023 2022
Pension asset $ 1,814 $ 2,164

Pledges receivable 346 393
Technology-based ventures 268 176
Oil and gas interests 259 199
Trust receivables 218 204
Investments in unconsolidated entities 164 214
Operating lease right-of-use asset 122 141
Prepaid maintenance 79 23
Notes receivable 69 29
Long-term portion of deferred tax asset 4 11
Other 85 77
Total other long-term assets $ 3,428 $ 3,631
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Mayo Clinic
Term Liabilities (Continued)
At December 31, other current liabilities consisted of the following:
2023 2022
Other taxes $ 92 $ 87
Oil and gas liability 51 15
Current portion of long-term disability 50 49
Current portion of professional and general liability 49 43
Short-term disability 34 30
Real estate tax accrual 28 28
Refunds/recoupments 23 24
Operating lease liability 22 23
Accrued interest 22 20
Current maturities of long-term debt 18 36
Medicare settlements liability 12 13
Current portion of workers' compensation liability 12 11
Finance lease liability 9 6
Other 69 85
Total other current liabilities $ 491 $ 470
At December 31, other long-term liabilities consisted of the following:
2023 2022
Deferred compensation $ 1,129 $ 929

Long-term disability 246 224
Operating lease liability 127 123
Deferred gain 126 135
Professional and general liability 115 116
Electronic medical record 96 96
Retirement community obligations 92 96
Gift annuities 67 65
Financing obligations 60 60
Asset retirement obligation 48 55
Trust obligations 47 57
Workers’ compensation liability 32 32
Finance lease liability 27 —
Contract deposit 25 22
Other 66 73
Total other long-term liabilities $ 2,303 $ 2,083
43
Mayo Clinic
Note 19. Other Revenue

For the years ended December 31, other revenue consisted of the following:
2023 2022
Retail pharmacy sales $ 530 $ 475

Royalties 120 130
Retail Stores 80 71
Oil and gas producing activities 75 156
Graduate medical and other education revenue 53 46
Technology commercialization, health information, and medical
products 43 43
Cafeteria revenue 37 32
Other 262 274
Total other revenue $ 1,200 $ 1,227
Note 20. Commitments and Contingencies

The Clinic has various construction projects in progress related to patient care, research, and educational
facilities. The estimated costs committed to complete the various projects at December 31, 2023 is
$6,117 all of which is expected to be expended over the next three to five years. Included in this is the $5
billion initiative for the Rochester, Minnesota campus project which includes five new buildings, and
technology and infrastructure investments.
While the Clinic is self-insured for a substantial portion of its general and workers’ compensation liabilities,
the Clinic maintains commercial insurance coverage against catastrophic loss. Additionally, the Clinic
maintains a self-insurance program for its long-term disability coverage. The provision for estimated self-
insured claims includes estimates of the ultimate costs for both reported claims and claims incurred but
not reported.
The Clinic is a defendant in various lawsuits arising in the ordinary course of business and records an
estimated liability for probable claims. Although the outcome of these lawsuits cannot be predicted with
certainty, management believes the ultimate disposition of such matters will not have a material effect on
the Clinic’s consolidated financial position or consolidated statement of activities.
44
Mayo Clinic
Note 21. U.S. Department of Education Financial Responsibility Ratio Information

The following information is required by the U.S. Department of Education for the years ended December
31,
2023 2022
Net assets with temporary donor restrictions $ 3,221 $ 2,989
Intangible assets $ 10 $ 1
Post-employment and retirement liabilities:
Accrued pension and postretirement benefits, net of current portion $ 812 $ 819
Postretirement benefits, current portion 57 56
Total post-employment and retirement liabilities $ 869 $ 875
Property, plant, and equipment, including construction in progress and
right-of-use asset, net of accumulated depreciation:
Property, plant, and equipment, net $ 6,431 $ 5,887
Right-of-use asset 122 141
Total property, plant, and equipment, including construction in
progress and right-of-use asset, net of accumulated depreciation $ 6,553 $ 6,028
Long-term debt obtained for long term purposes:

Long-term debt $ 4,736 $ 4,777
Operating lease liabilities 149 146
Finance lease liabilities 36 6
Total long-term debt obtained for long term purposes $ 4,921 $ 4,929
Expenses and losses without donor restrictions:

Operating expenses $ 16,860 $ 15,695
Contributions not available for current activities, net 17 22
Income tax expense 41 23
Pension and other postretirement benefit adjustments 648 —
Other 162 —
Unallocated investment loss, net — 1,382
Total expenses and losses without donor restrictions $ 17,728 $ 17,122
Revenue without donor restrictions:

Total revenue, gains, and other support $ 18,028 $ 16,336
Unallocated investment return, net 788 —
Benefit credit 344 175
Pension and other postretirement benefit adjustments — 2,859
Other — 129
Total revenue without donor restrictions $ 19,160 $ 19,499
The Clinic does not have any material related party transactions to report for 2023 and 2022.
45
Mayo Clinic
Financial Responsibility Supplemental Schedule
Required by the U.S. Department of Education
Year Ended December 31, 2023 (In Millions)
Reference to Financial Statements

Ratio Element or Notes 2023
Primary Reserve Ratio

Expendable Net Assets
Net assets without donor restrictions Consolidated Statements of Financial Position $ 16,240
Net assets with restrictions Note 21 - U.S. Department of Education 3,221
Term endowments with donor restrictions Note 12 - Net Assets with Donor Restrictions 1,455
Intangible assets Note 21 - U.S. Department of Education 10

Property, plant, and equipment, including construction in progress,
and right of use asset, net of accumulated depreciation Note 21 - U.S. Department of Education 6,553
Long-term debt obtained for long term purposes Note 21 - U.S. Department of Education 4,921
Post-employment and retirement liabilities Note 21 - U.S. Department of Education 869
Total Expenses and Losses
Total expenses and losses without donor restrictions Note 21 - U.S. Department of Education 17,728
Equity Ratio
Modified Net Assets
Net assets with and without donor restrictions Consolidated Statements of Financial Position 21,636
Modified Assets
Total assets Consolidated Statements of Financial Position 31,927
Net Income Ratio
Change in net assets without donor restrictions Consolidated Statements of Activities 1,432
Total revenue without donor restrictions Note 21 - U.S. Department of Education 19,160
46
MAYO CLINIC
SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
Fiscal Period 1/1/2023 - 12/31/2023
Federal
Assistance Identifying Number Total Amount Federal
Listing Additional Award Name of Assigned by Passed Through to Federal Program
Federal Awarding Agency/Program Title Number Identification Pass-through Entity Pass-through Entity Subrecipients Expenditures Total Cluster Name Cluster Total
DEPARTMENT OF DEFENSE
BASIC AND APPLIED SCIENTIFIC RESEARCH 12.300 HR0011-24-C-0332 $3,408 $5,250,381 RESEARCH AND DEVELOPMENT $445,961,340
BASIC AND APPLIED SCIENTIFIC RESEARCH 12.300 N00014-19-C-2007 $436,874 $1,407,912 $5,250,381 RESEARCH AND DEVELOPMENT $445,961,340
BASIC AND APPLIED SCIENTIFIC RESEARCH 12.300 N00014-19-C-2017 $275,970 $2,917,841 $5,250,381 RESEARCH AND DEVELOPMENT $445,961,340
BASIC AND APPLIED SCIENTIFIC RESEARCH 12.300 N00014-19-C-2019 $586,072 $5,250,381 RESEARCH AND DEVELOPMENT $445,961,340
BASIC AND APPLIED SCIENTIFIC RESEARCH 12.300 N00014-20-1-2726 $259 $5,250,381 RESEARCH AND DEVELOPMENT $445,961,340
BASIC AND APPLIED SCIENTIFIC RESEARCH 12.300 N00014-22-C-2019 $327,627 $5,250,381 RESEARCH AND DEVELOPMENT $445,961,340
National Marrow Donor
BASIC AND APPLIED SCIENTIFIC RESEARCH 12.300 BMT CTN 1703/1801 Program BMT CTN 1703/1801 $7,262 $5,250,381 RESEARCH AND DEVELOPMENT $445,961,340
MILITARY MEDICAL RESEARCH AND DEVELOPMENT 12.420 HT9425-23-1-0100 $10,729 $19,518,528 RESEARCH AND DEVELOPMENT $445,961,340
MILITARY MEDICAL RESEARCH AND DEVELOPMENT 12.420 W81XWH-0810-01 $432,481 $432,481 $19,518,528 RESEARCH AND DEVELOPMENT $445,961,340
MILITARY MEDICAL RESEARCH AND DEVELOPMENT 12.420 W81XWH-15-1-0115 $77,855 $19,518,528 RESEARCH AND DEVELOPMENT $445,961,340
MILITARY MEDICAL RESEARCH AND DEVELOPMENT 12.420 W81XWH-15-1-0292 $22,000 $591,832 $19,518,528 RESEARCH AND DEVELOPMENT $445,961,340
MILITARY MEDICAL RESEARCH AND DEVELOPMENT 12.420 W81XWH-19-1-0534 $677,409 $1,854,691 $19,518,528 RESEARCH AND DEVELOPMENT $445,961,340
MILITARY MEDICAL RESEARCH AND DEVELOPMENT 12.420 W81XWH-21-1-0490 $75,788 $1,245,553 $19,518,528 RESEARCH AND DEVELOPMENT $445,961,340
47
MAYO CLINIC
Fiscal Period 1/1/2023 - 12/31/2023
Federal
MILITARY MEDICAL RESEARCH AND DEVELOPMENT 12.420 APP-304092 Applied Research Associates APP-304092 $10,000 $19,518,528 RESEARCH AND DEVELOPMENT $445,961,340
MILITARY MEDICAL RESEARCH AND DEVELOPMENT 12.420 HT9425-23-1-0485 Boston Scientific Corporation HT9425-23-1-0485 $43,801 $19,518,528 RESEARCH AND DEVELOPMENT $445,961,340
MILITARY MEDICAL RESEARCH AND DEVELOPMENT 12.420 HT9425-23-1-0681 Targepeutics, Inc. HT9425-23-1-0681 $9,468 $19,518,528 RESEARCH AND DEVELOPMENT $445,961,340
MILITARY MEDICAL RESEARCH AND DEVELOPMENT 12.420 W81XWH-0317 Cedars Sinai Medical Center W81XWH-0317 $164,084 $19,518,528 RESEARCH AND DEVELOPMENT $445,961,340
University of Alabama at
MILITARY MEDICAL RESEARCH AND DEVELOPMENT 12.420 W81XWH-15-1-0705 Birmingham W81XWH-15-1-0705 $26,607 $19,518,528 RESEARCH AND DEVELOPMENT $445,961,340
MILITARY MEDICAL RESEARCH AND DEVELOPMENT 12.420 W81XWH-15-9-001 University of Pittsburgh W81XWH-15-9-001 $356,705 $19,518,528 RESEARCH AND DEVELOPMENT $445,961,340
Massachusetts Eye & Ear
MILITARY MEDICAL RESEARCH AND DEVELOPMENT 12.420 W81XWH-17-1-0644 Infirmary W81XWH-17-1-0644 $1,788 $19,518,528 RESEARCH AND DEVELOPMENT $445,961,340
MILITARY MEDICAL RESEARCH AND DEVELOPMENT 12.420 W81XWH-18-1-0577 University of Minnesota W81XWH-18-1-0577 $10,160 $19,518,528 RESEARCH AND DEVELOPMENT $445,961,340
MILITARY MEDICAL RESEARCH AND DEVELOPMENT 12.420 W81XWH-19-1-0491 MD Anderson Cancer Center W81XWH-19-1-0491 $76,859 $19,518,528 RESEARCH AND DEVELOPMENT $445,961,340
MILITARY MEDICAL RESEARCH AND DEVELOPMENT 12.420 W81XWH-19-1-0727 University of California Davis W81XWH-19-1-0727 $21,288 $19,518,528 RESEARCH AND DEVELOPMENT $445,961,340
Southwest Autism Research &

MILITARY MEDICAL RESEARCH AND DEVELOPMENT 12.420 W81XWH-20-1-0171 Resource Center W81XWH-20-1-0171 $1,402 $19,518,528 RESEARCH AND DEVELOPMENT $445,961,340
MILITARY MEDICAL RESEARCH AND DEVELOPMENT 12.420 W81XWH-20-1-0432 University of Maryland W81XWH-20-1-0432 $1,507 $19,518,528 RESEARCH AND DEVELOPMENT $445,961,340
MILITARY MEDICAL RESEARCH AND DEVELOPMENT 12.420 W81XWH-20-1-0524 Prytime Medical Devices, Inc. W81XWH-20-1-0524 $84,188 $19,518,528 RESEARCH AND DEVELOPMENT $445,961,340
MILITARY MEDICAL RESEARCH AND DEVELOPMENT 12.420 W81XWH-20-1-0750 Cleveland Clinic Foundation W81XWH-20-1-0750 $68,851 $19,518,528 RESEARCH AND DEVELOPMENT $445,961,340
MILITARY MEDICAL RESEARCH AND DEVELOPMENT 12.420 W81XWH-20-1-0930 University of New Mexico W81XWH-20-1-0930 $44,688 $19,518,528 RESEARCH AND DEVELOPMENT $445,961,340
MILITARY MEDICAL RESEARCH AND DEVELOPMENT 12.420 W81XWH-20-C-0104 Treadmetrix W81XWH-20-C-0104 $25,026 $19,518,528 RESEARCH AND DEVELOPMENT $445,961,340
MILITARY MEDICAL RESEARCH AND DEVELOPMENT 12.420 W81XWH-21-1-0121 Prytime Medical Devices, Inc. W81XWH-21-1-0121 $36,836 $19,518,528 RESEARCH AND DEVELOPMENT $445,961,340
MILITARY MEDICAL RESEARCH AND DEVELOPMENT 12.420 W81XWH-21-1-0401 University of Melbourne W81XWH-21-1-0401 $103 $19,518,528 RESEARCH AND DEVELOPMENT $445,961,340
University of Pittsburgh
MILITARY MEDICAL RESEARCH AND DEVELOPMENT 12.420 W81XWH-21-1-0480 Medical Center W81XWH-21-1-0480 $278,239 $19,518,528 RESEARCH AND DEVELOPMENT $445,961,340
MILITARY MEDICAL RESEARCH AND DEVELOPMENT 12.420 W81XWH-21-1-0665 Birmingham W81XWH-21-1-0665 $233,469 $19,518,528 RESEARCH AND DEVELOPMENT $445,961,340
MILITARY MEDICAL RESEARCH AND DEVELOPMENT 12.420 W81XWH-21-1-0827 Cure HHT Foundation W81XWH-21-1-0827 $7,412 $19,518,528 RESEARCH AND DEVELOPMENT $445,961,340
MILITARY MEDICAL RESEARCH AND DEVELOPMENT 12.420 W81XWH-21-C-0025 Vivonics, Inc. W81XWH-21-C-0025 $141,761 $19,518,528 RESEARCH AND DEVELOPMENT $445,961,340
MILITARY MEDICAL RESEARCH AND DEVELOPMENT 12.420 W81XWH-22-1-0201 University of Iowa W81XWH-22-1-0201 $21,781 $19,518,528 RESEARCH AND DEVELOPMENT $445,961,340
Georgia College & State
MILITARY MEDICAL RESEARCH AND DEVELOPMENT 12.420 W81XWH-22-1-0971 University W81XWH-22-1-0971 $22,554 $19,518,528 RESEARCH AND DEVELOPMENT $445,961,340
MILITARY MEDICAL RESEARCH AND DEVELOPMENT 12.420 W81XWH-22-1-0999 Mount Sinai Medical Center W81XWH-22-1-0999 $565 $19,518,528 RESEARCH AND DEVELOPMENT $445,961,340
MILITARY MEDICAL RESEARCH AND DEVELOPMENT 12.420 W81XWH-22-3-0001 Birmingham W81XWH-22-3-0001 $239 $19,518,528 RESEARCH AND DEVELOPMENT $445,961,340
UNIFORMED SERVICES UNIVERSITY MEDICAL RESEARCH PROJECTS 12.750 HU00011920072 Henry M. Jackson Foundation HU00011920072 $176,257 $176,257 RESEARCH AND DEVELOPMENT $445,961,340
RESEARCH AND TECHNOLOGY DEVELOPMENT 12.910 140D0422C0053 Luna Innovations Incorporated 140D0422C0053 $97,769 $97,769 RESEARCH AND DEVELOPMENT $445,961,340
CONTRACT 12.RD 36C26223C0234 $10,358 $9,727,405 RESEARCH AND DEVELOPMENT $445,961,340
CONTRACT 12.RD 6973GH-23-T-00009 $146,333 $9,727,405 RESEARCH AND DEVELOPMENT $445,961,340
CONTRACT 12.RD FA8650-19-C-6979 $96,136 $1,305,330 $9,727,405 RESEARCH AND DEVELOPMENT $445,961,340
CONTRACT 12.RD H98230-13-D-0123 $173,150 $9,727,405 RESEARCH AND DEVELOPMENT $445,961,340
CONTRACT 12.RD H98230-18-D-0024 $240,000 $5,104,265 $9,727,405 RESEARCH AND DEVELOPMENT $445,961,340
48
MAYO CLINIC
Fiscal Period 1/1/2023 - 12/31/2023
Federal
CONTRACT 12.RD H98230-22-C-0095 $56,850 $1,324,986 $9,727,405 RESEARCH AND DEVELOPMENT $445,961,340
CONTRACT 12.RD MTEC 2020-625 $1,289,676 $9,727,405 RESEARCH AND DEVELOPMENT $445,961,340
CONTRACT 12.RD MTEC 2020-625A $38,853 $9,727,405 RESEARCH AND DEVELOPMENT $445,961,340
CONTRACT 12.RD MTEC 2020-625B $578 $578 $9,727,405 RESEARCH AND DEVELOPMENT $445,961,340
University of Wisconsin-
CONTRACT 12.RD 75D30122C15355 Madison 75D30122C15355 $4,808 $9,727,405 RESEARCH AND DEVELOPMENT $445,961,340
CONTRACT 12.RD 75N93019C00052 University of Georgia 75N93019C00052 $185,541 $9,727,405 RESEARCH AND DEVELOPMENT $445,961,340
CONTRACT 12.RD 75N93019C00056 Crestone, Inc. 75N93019C00056 $10,315 $9,727,405 RESEARCH AND DEVELOPMENT $445,961,340
CONTRACT 12.RD DE-AC05-76RL01830 Battelle Memorial Institute DE-AC05-76RL01830 $133,212 $9,727,405 RESEARCH AND DEVELOPMENT $445,961,340
TOTAL DEPARTMENT OF DEFENSE
$3,120,179 $34,770,340
DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
Supportive Housing For The

SUPPORTIVE HOUSING FOR THE ELDERLY 14.157 Elderly $302,998 $302,998 N/A $0
Section 8 Housing Choice
SECTION 8 HOUSING CHOICE VOUCHERS 14.871 Vouchers $81,532 $81,532 HOUSING VOUCHER CLUSTER $81,532
TOTAL DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
$384,530
DEPARTMENT OF JUSTICE
NATIONAL INSTITUTE OF JUSTICE RESEARCH, EVALUATION, AND

DEVELOPMENT PROJECT GRANTS 16.560 2020-75-CX-0015 $61,857 $61,857 RESEARCH AND DEVELOPMENT $445,961,340
CRIME VICTIM ASSISTANCE 16.575 Crime Victim Assistance $93,603 $93,603 N/A $0
TOTAL DEPARTMENT OF JUSTICE
$155,460
DEPARTMENT OF THE TREASURY

COVID-19 CORONAVIRUS STATE AND LOCAL FISCAL RECOVERY FUNDS 21.027 COVID-19 $74,699 $781,759 N/A $0
COVID-19 CORONAVIRUS STATE AND LOCAL FISCAL RECOVERY FUNDS 21.027 COVID-19 Madison 435100-G23 $76,171 $781,759 N/A $0
COVID-19 CORONAVIRUS STATE AND LOCAL FISCAL RECOVERY FUNDS 21.027 COVID-19 Arizona State Board of Nursing HB2691 $630,889 $781,759 N/A $0
TOTAL DEPARTMENT OF THE TREASURY
$781,759
NATIONAL AERONAUTICS & SPACE ADMINISTRATION
SCIENCE 43.001 80NSSC20K0116 $19,275 $209,503 RESEARCH AND DEVELOPMENT $445,961,340

SCIENCE 43.001 80NSSC20K1139 $168 $209,503 RESEARCH AND DEVELOPMENT $445,961,340
SCIENCE 43.001 80NSSC21K0299 $190,033 $209,503 RESEARCH AND DEVELOPMENT $445,961,340
Center for Applied Space
SCIENCE 43.001 80NSS22K0563 Technology, Inc. 80NSS22K0563 $27 $209,503 RESEARCH AND DEVELOPMENT $445,961,340
TOTAL NATIONAL AERONAUTICS & SPACE ADMINISTRATION
$209,503
NATIONAL SCIENCE FOUNDATION
ENGINEERING 47.041 NSF #2152869 Texas A&M University NSF #2152869 $108,725 $193,127 RESEARCH AND DEVELOPMENT $445,961,340
ENGINEERING 47.041 NSF #2229279 Arizona State University NSF #2229279 $37,496 $193,127 RESEARCH AND DEVELOPMENT $445,961,340
ENGINEERING 47.041 NSF 2127127 Frontier Bio Corporation NSF 2127127 $46,018 $193,127 RESEARCH AND DEVELOPMENT $445,961,340
ENGINEERING 47.041 NSF2111884 Sequitur Health Corporation NSF2111884 $888 $193,127 RESEARCH AND DEVELOPMENT $445,961,340
MATHEMATICAL AND PHYSICAL SCIENCES 47.049 NSF #10 $156,312 $232,451 RESEARCH AND DEVELOPMENT $445,961,340
MATHEMATICAL AND PHYSICAL SCIENCES 47.049 NSF 2113360 $20,131 $232,451 RESEARCH AND DEVELOPMENT $445,961,340
MATHEMATICAL AND PHYSICAL SCIENCES 47.049 NSF #9 Georgia Institute of Technology NSF #9 $42,670 $232,451 RESEARCH AND DEVELOPMENT $445,961,340
MATHEMATICAL AND PHYSICAL SCIENCES 47.049 NSF 2108060 University of North Florida NSF 2108060 $13,338 $232,451 RESEARCH AND DEVELOPMENT $445,961,340
COMPUTER AND INFORMATION SCIENCE AND ENGINEERING 47.070 NSF 1837572 $48,534 $837,557 RESEARCH AND DEVELOPMENT $445,961,340
COMPUTER AND INFORMATION SCIENCE AND ENGINEERING 47.070 NSF 2041339 $57,850 $300,610 $837,557 RESEARCH AND DEVELOPMENT $445,961,340
COMPUTER AND INFORMATION SCIENCE AND ENGINEERING 47.070 NSF 2123900 $228,766 $837,557 RESEARCH AND DEVELOPMENT $445,961,340
COMPUTER AND INFORMATION SCIENCE AND ENGINEERING 47.070 NSF #2200269 Georgia Institute of Technology NSF #2200269 $33,549 $837,557 RESEARCH AND DEVELOPMENT $445,961,340
COMPUTER AND INFORMATION SCIENCE AND ENGINEERING 47.070 NSF 1901046 Purdue University NSF 1901046 $20,803 $837,557 RESEARCH AND DEVELOPMENT $445,961,340
University of Illinois at Urbana
COMPUTER AND INFORMATION SCIENCE AND ENGINEERING 47.070 NSF 2002540 Champaign NSF 2002540 $7,176 $837,557 RESEARCH AND DEVELOPMENT $445,961,340
COMPUTER AND INFORMATION SCIENCE AND ENGINEERING 47.070 NSF 2200058 Oxalo Therapeutics, Inc. NSF 2200058 $198,119 $837,557 RESEARCH AND DEVELOPMENT $445,961,340
49
MAYO CLINIC
Fiscal Period 1/1/2023 - 12/31/2023
Federal
BIOLOGICAL SCIENCES 47.074 NSF 23494 Iowa State University NSF 23494 $54,543 $54,543 RESEARCH AND DEVELOPMENT $445,961,340
STEM EDUCATION (Formerly EDUCATION AND HUMAN RESOURCES) 47.076 NSF-GRFP21 $41,946 $57,601 RESEARCH AND DEVELOPMENT $445,961,340
STEM EDUCATION (Formerly EDUCATION AND HUMAN RESOURCES) 47.076 NSF 2152254 Arizona State University NSF 2152254 $11,368 $57,601 RESEARCH AND DEVELOPMENT $445,961,340
STEM EDUCATION (Formerly EDUCATION AND HUMAN RESOURCES) 47.076 NSF 2216826 St. Catherine University NSF 2216826 $4,287 $57,601 RESEARCH AND DEVELOPMENT $445,961,340
TOTAL NATIONAL SCIENCE FOUNDATION
$57,850 $1,375,279
DEPARTMENT OF VETERANS AFFAIRS
CONTRACT 64.RD IPA AGREEMENT - KAUFMAN $63,832 $82,219 RESEARCH AND DEVELOPMENT $445,961,340
CONTRACT 64.RD IPA AGREEMENT – WANG $18,387 $82,219 RESEARCH AND DEVELOPMENT $445,961,340
TOTAL DEPARTMENT OF VETERANS AFFAIRS
$82,219
DEPARTMENT OF EDUCATION
FEDERAL PELL GRANT PROGRAM 84.063 PELL #1 $21,084 $21,084 STUDENT FINANCIAL ASSISTANCE $18,084,664
FEDERAL DIRECT STUDENT LOANS 84.268 Federal Direct Student Loans $18,063,580 $18,063,580 STUDENT FINANCIAL ASSISTANCE $18,084,664
TOTAL DEPARTMENT OF EDUCATION
$18,084,664
DEPARTMENT OF HEALTH AND HUMAN SERVICES

CHRONIC DISEASES: RESEARCH, CONTROL, AND PREVENTION 93.068 DP06703 $752,871 $752,871 RESEARCH AND DEVELOPMENT $445,961,340
BLOOD DISORDER PROGRAM: PREVENTION, SURVEILLANCE, AND Great Lakes Hemophilia
RESEARCH 93.080 NU27DD000020 Foundation NU27DD000020 $19,590 $19,590 RESEARCH AND DEVELOPMENT $445,961,340
PREVENTION OF DISEASE, DISABILITY, AND DEATH THROUGH
IMMUNIZATION AND CONTROL OF RESPIRATORY AND RELATED American Society Clinical
DISEASES 93.083 NH23IP922656 Oncology NH23IP922656 $97,084 $97,084 RESEARCH AND DEVELOPMENT $445,961,340
PREVENTION OF DISEASE, DISABILITY, AND DEATH BY INFECTIOUS Minnesota Department of
DISEASES 93.084 NU50CK000628 Health NU50CK000628 $26,058 $26,058 RESEARCH AND DEVELOPMENT $445,961,340
University of Missouri - Kansas
FOOD AND DRUG ADMINISTRATION_RESEARCH 93.103 75F40122C00183 City 75F40122C00183 $56,936 $56,936 RESEARCH AND DEVELOPMENT $445,961,340
MATERNAL AND CHILD HEALTH FEDERAL CONSOLIDATED PROGRAMS 93.110 HRSA-22-145 Cure HHT Foundation HRSA-22-145 $79,606 $107,825 RESEARCH AND DEVELOPMENT $445,961,340
Great Lakes Hemophilia
MATERNAL AND CHILD HEALTH FEDERAL CONSOLIDATED PROGRAMS 93.110 MC24052 Foundation MC24052 $28,219 $107,825 RESEARCH AND DEVELOPMENT $445,961,340
ENVIRONMENTAL HEALTH 93.113 ES33892 Florida International University ES33892 $64,479 $64,479 RESEARCH AND DEVELOPMENT $445,961,340
ORAL DISEASES AND DISORDERS RESEARCH 93.121 DE031424 $147,344 $259,747 $324,000 RESEARCH AND DEVELOPMENT $445,961,340
ORAL DISEASES AND DISORDERS RESEARCH 93.121 DE28105 $994 $324,000 RESEARCH AND DEVELOPMENT $445,961,340
ORAL DISEASES AND DISORDERS RESEARCH 93.121 DE29754 University of North Carolina DE29754 $63,259 $324,000 RESEARCH AND DEVELOPMENT $445,961,340
University of Kansas Medical
GRANTS TO INCREASE ORGAN DONATIONS 93.134 HS33878 Center HS33878 $20,030 $20,030 RESEARCH AND DEVELOPMENT $445,961,340
HUMAN GENOME RESEARCH 93.172 HG06379 $224,276 $1,509,235 $3,881,904 RESEARCH AND DEVELOPMENT $445,961,340
HUMAN GENOME RESEARCH 93.172 HG09542 $24,956 $3,881,904 RESEARCH AND DEVELOPMENT $445,961,340
HUMAN GENOME RESEARCH 93.172 HG11461 $249,371 $434,175 $3,881,904 RESEARCH AND DEVELOPMENT $445,961,340
HUMAN GENOME RESEARCH 93.172 HG11662 $67,991 $159,136 $3,881,904 RESEARCH AND DEVELOPMENT $445,961,340
HUMAN GENOME RESEARCH 93.172 HG06834 Brigham and Women’s Hospital HG06834 $102,483 $3,881,904 RESEARCH AND DEVELOPMENT $445,961,340
HUMAN GENOME RESEARCH 93.172 HG09650 University of North Carolina HG09650 $180,525 $3,881,904 RESEARCH AND DEVELOPMENT $445,961,340
Case Western Reserve
HUMAN GENOME RESEARCH 93.172 HG09668 University HG09668 $55,530 $3,881,904 RESEARCH AND DEVELOPMENT $445,961,340
HUMAN GENOME RESEARCH 93.172 HG10166 Cincinnati Children's Hospital HG10166 $58,100 $3,881,904 RESEARCH AND DEVELOPMENT $445,961,340
HUMAN GENOME RESEARCH 93.172 HG12402 University of North Carolina HG12402 $80,488 $3,881,904 RESEARCH AND DEVELOPMENT $445,961,340
RESEARCH RELATED TO DEAFNESS AND COMMUNICATION DISORDERS 93.173 DC019564 $34,265 $1,475,716 RESEARCH AND DEVELOPMENT $445,961,340
RESEARCH RELATED TO DEAFNESS AND COMMUNICATION DISORDERS 93.173 DC021115 $5,066 $7,338 $1,475,716 RESEARCH AND DEVELOPMENT $445,961,340
50
MAYO CLINIC
Fiscal Period 1/1/2023 - 12/31/2023
Federal
RESEARCH RELATED TO DEAFNESS AND COMMUNICATION DISORDERS 93.173 DC19114 $2,577 $436,430 $1,475,716 RESEARCH AND DEVELOPMENT $445,961,340
RESEARCH RELATED TO DEAFNESS AND COMMUNICATION DISORDERS 93.173 DC18920 Ohio State University DC18920 $62,866 $1,475,716 RESEARCH AND DEVELOPMENT $445,961,340
RESEARCH RELATED TO DEAFNESS AND COMMUNICATION DISORDERS 93.173 DC19402 Michigan State University DC19402 $54,288 $1,475,716 RESEARCH AND DEVELOPMENT $445,961,340
RESEARCH RELATED TO DEAFNESS AND COMMUNICATION DISORDERS 93.173 DC19475 Arizona State University DC19475 $14,198 $1,475,716 RESEARCH AND DEVELOPMENT $445,961,340
RESEARCH AND TRAINING IN COMPLEMENTARY AND INTEGRATIVE
HEALTH 93.213 AT010875 $621,463 $1,469,089 RESEARCH AND DEVELOPMENT $445,961,340
HEALTH 93.213 AT12185 $664,931 $1,469,089 RESEARCH AND DEVELOPMENT $445,961,340
RESEARCH AND TRAINING IN COMPLEMENTARY AND INTEGRATIVE Minnesota HealthSolutions

HEALTH 93.213 AT09665 Corporation AT09665 $177,103 $1,469,089 RESEARCH AND DEVELOPMENT $445,961,340
HEALTH 93.213 AT09844 New York School of Medicine AT09844 $5,592 $1,469,089 RESEARCH AND DEVELOPMENT $445,961,340
RESEARCH ON HEALTHCARE COSTS, QUALITY AND OUTCOMES 93.226 HS028475 $123,217 $788,037 RESEARCH AND DEVELOPMENT $445,961,340
RESEARCH ON HEALTHCARE COSTS, QUALITY AND OUTCOMES 93.226 HS26609 $14,058 $14,058 $788,037 RESEARCH AND DEVELOPMENT $445,961,340
RESEARCH ON HEALTHCARE COSTS, QUALITY AND OUTCOMES 93.226 HS28639 $25,230 $386,093 $788,037 RESEARCH AND DEVELOPMENT $445,961,340
Virginia Commonwealth
RESEARCH ON HEALTHCARE COSTS, QUALITY AND OUTCOMES 93.226 HS25412 University HS25412 $17,596 $788,037 RESEARCH AND DEVELOPMENT $445,961,340
RESEARCH ON HEALTHCARE COSTS, QUALITY AND OUTCOMES 93.226 HS26379 University of Minnesota HS26379 $92,830 $788,037 RESEARCH AND DEVELOPMENT $445,961,340
RESEARCH ON HEALTHCARE COSTS, QUALITY AND OUTCOMES 93.226 HS26622 University of Michigan HS26622 $39,281 $788,037 RESEARCH AND DEVELOPMENT $445,961,340
RESEARCH ON HEALTHCARE COSTS, QUALITY AND OUTCOMES 93.226 HS28583 University of Minnesota HS28583 $15,212 $788,037 RESEARCH AND DEVELOPMENT $445,961,340
NATIONAL CENTER ON SLEEP DISORDERS RESEARCH 93.233 HL134808 $680,731 $2,546,784 RESEARCH AND DEVELOPMENT $445,961,340
NATIONAL CENTER ON SLEEP DISORDERS RESEARCH 93.233 HL160368 REMastered Sleep LLC HL160368 $13,830 $2,546,784 RESEARCH AND DEVELOPMENT $445,961,340
Minnesota HealthSolutions
NATIONAL CENTER ON SLEEP DISORDERS RESEARCH 93.233 HL162131 Corporation HL162131 $28,199 $2,546,784 RESEARCH AND DEVELOPMENT $445,961,340
NATIONAL CENTER ON SLEEP DISORDERS RESEARCH 93.233 HL168173 Binghamton University HL168173 $32,079 $2,546,784 RESEARCH AND DEVELOPMENT $445,961,340
MENTAL HEALTH RESEARCH GRANTS 93.242 MH121924 $276,660 $1,916,368 RESEARCH AND DEVELOPMENT $445,961,340
MENTAL HEALTH RESEARCH GRANTS 93.242 MH122258 $111,326 $315,081 $1,916,368 RESEARCH AND DEVELOPMENT $445,961,340
MENTAL HEALTH RESEARCH GRANTS 93.242 MH124655 $74,361 $644,107 $1,916,368 RESEARCH AND DEVELOPMENT $445,961,340
MENTAL HEALTH RESEARCH GRANTS 93.242 MH109190 Corporation MH109190 $60,929 $1,916,368 RESEARCH AND DEVELOPMENT $445,961,340
Research Foundation for
MENTAL HEALTH RESEARCH GRANTS 93.242 MH114967 Mental Hygiene, Inc. MH114967 $15,620 $1,916,368 RESEARCH AND DEVELOPMENT $445,961,340
MENTAL HEALTH RESEARCH GRANTS 93.242 MH121191 Harvard School of Public Health MH121191 $146,136 $1,916,368 RESEARCH AND DEVELOPMENT $445,961,340
MENTAL HEALTH RESEARCH GRANTS 93.242 MH125935 University of Washington MH125935 $98,498 $1,916,368 RESEARCH AND DEVELOPMENT $445,961,340
University of California San
MENTAL HEALTH RESEARCH GRANTS 93.242 MH126700 Diego MH126700 $47,767 $1,916,368 RESEARCH AND DEVELOPMENT $445,961,340
Advanced MRI Technologies,
MENTAL HEALTH RESEARCH GRANTS 93.242 MH129278 LLC MH129278 $17,235 $1,916,368 RESEARCH AND DEVELOPMENT $445,961,340
MENTAL HEALTH RESEARCH GRANTS 93.242 MH129301 Yale University MH129301 $161,880 $1,916,368 RESEARCH AND DEVELOPMENT $445,961,340
Minnesota Department of
IMMUNIZATION COOPERATIVE AGREEMENTS 93.268 MDH203179 Health MDH203179 $447,310 $561,959 RESEARCH AND DEVELOPMENT $445,961,340
IMMUNIZATION COOPERATIVE AGREEMENTS 93.268 MDH220856 Health MDH220856 $114,649 $561,959 RESEARCH AND DEVELOPMENT $445,961,340
ALCOHOL RESEARCH PROGRAMS 93.273 AA21171 $533,049 $3,664,016 RESEARCH AND DEVELOPMENT $445,961,340
ALCOHOL RESEARCH PROGRAMS 93.273 AA27179 $117,383 $294,921 $3,664,016 RESEARCH AND DEVELOPMENT $445,961,340
ALCOHOL RESEARCH PROGRAMS 93.273 AA27487 $702,905 $702,905 $3,664,016 RESEARCH AND DEVELOPMENT $445,961,340
51
MAYO CLINIC
Fiscal Period 1/1/2023 - 12/31/2023
Federal
ALCOHOL RESEARCH PROGRAMS 93.273 AA20735 University of Nebraska AA20735 $280,983 $3,664,016 RESEARCH AND DEVELOPMENT $445,961,340
DRUG ABUSE AND ADDICTION RESEARCH PROGRAMS 93.279 CA278594 $5,939 $909,569 $2,343,095 RESEARCH AND DEVELOPMENT $445,961,340
DRUG ABUSE AND ADDICTION RESEARCH PROGRAMS 93.279 DA42492 $213,555 $2,343,095 RESEARCH AND DEVELOPMENT $445,961,340
DRUG ABUSE AND ADDICTION RESEARCH PROGRAMS 93.279 DA56469 $258,738 $490,643 $2,343,095 RESEARCH AND DEVELOPMENT $445,961,340
DRUG ABUSE AND ADDICTION RESEARCH PROGRAMS 93.279 NS1133515 $161,254 $2,343,095 RESEARCH AND DEVELOPMENT $445,961,340
DRUG ABUSE AND ADDICTION RESEARCH PROGRAMS 93.279 CA261067 NYU Langone Medical Center CA261067 $78,926 $2,343,095 RESEARCH AND DEVELOPMENT $445,961,340
DRUG ABUSE AND ADDICTION RESEARCH PROGRAMS 93.279 DA40316 Hennepin Healthcare Research DA40316 $129,790 $2,343,095 RESEARCH AND DEVELOPMENT $445,961,340
DRUG ABUSE AND ADDICTION RESEARCH PROGRAMS 93.279 DA47003 Yale University DA47003 $123,916 $2,343,095 RESEARCH AND DEVELOPMENT $445,961,340
DRUG ABUSE AND ADDICTION RESEARCH PROGRAMS 93.279 DA54725 Washington University DA54725 $29,869 $2,343,095 RESEARCH AND DEVELOPMENT $445,961,340
DISCOVERY AND APPLIED RESEARCH FOR TECHNOLOGICAL

INNOVATIONS TO IMPROVE HUMAN HEALTH 93.286 EB001981 $509,083 $4,941,367 RESEARCH AND DEVELOPMENT $445,961,340



INNOVATIONS TO IMPROVE HUMAN HEALTH 93.286 EB19403 $156,532 $503,495 $4,941,367 RESEARCH AND DEVELOPMENT $445,961,340









52
MAYO CLINIC
Fiscal Period 1/1/2023 - 12/31/2023
Federal
DISCOVERY AND APPLIED RESEARCH FOR TECHNOLOGICAL The Research Foundation for
INNOVATIONS TO IMPROVE HUMAN HEALTH 93.286 EB17270 SUNY EB17270 $1,121 $4,941,367 RESEARCH AND DEVELOPMENT $445,961,340
DISCOVERY AND APPLIED RESEARCH FOR TECHNOLOGICAL University of Southern

INNOVATIONS TO IMPROVE HUMAN HEALTH 93.286 EB26284 California EB26284 $162 $4,941,367 RESEARCH AND DEVELOPMENT $445,961,340

INNOVATIONS TO IMPROVE HUMAN HEALTH 93.286 EB26976 GE Capital EB26976 $26,002 $4,941,367 RESEARCH AND DEVELOPMENT $445,961,340

INNOVATIONS TO IMPROVE HUMAN HEALTH 93.286 EB27100 Stanford University EB27100 $27,169 $4,941,367 RESEARCH AND DEVELOPMENT $445,961,340

INNOVATIONS TO IMPROVE HUMAN HEALTH 93.286 EB29242 Montana State University EB29242 $69,031 $4,941,367 RESEARCH AND DEVELOPMENT $445,961,340
DISCOVERY AND APPLIED RESEARCH FOR TECHNOLOGICAL University Illinois-Urbana

INNOVATIONS TO IMPROVE HUMAN HEALTH 93.286 EB31040 Champaign EB31040 $31,737 $4,941,367 RESEARCH AND DEVELOPMENT $445,961,340
DISCOVERY AND APPLIED RESEARCH FOR TECHNOLOGICAL Massachusetts Institute of

INNOVATIONS TO IMPROVE HUMAN HEALTH 93.286 EB31992 Technology EB31992 $84,597 $4,941,367 RESEARCH AND DEVELOPMENT $445,961,340
DISCOVERY AND APPLIED RESEARCH FOR TECHNOLOGICAL University of Southern

INNOVATIONS TO IMPROVE HUMAN HEALTH 93.286 EB32958 California EB32958 $9,325 $4,941,367 RESEARCH AND DEVELOPMENT $445,961,340

INNOVATIONS TO IMPROVE HUMAN HEALTH 93.286 EB35403 Arizona State University EB35403 $4,164 $4,941,367 RESEARCH AND DEVELOPMENT $445,961,340
MINORITY HEALTH AND HEALTH DISPARITIES RESEARCH 93.307 MD16230 $156,277 $1,505,518 RESEARCH AND DEVELOPMENT $445,961,340
MINORITY HEALTH AND HEALTH DISPARITIES RESEARCH 93.307 MD17217 $143,087 $1,505,518 RESEARCH AND DEVELOPMENT $445,961,340
MINORITY HEALTH AND HEALTH DISPARITIES RESEARCH 93.307 MD007582 Florida A&M University MD007582 $34,938 $1,505,518 RESEARCH AND DEVELOPMENT $445,961,340
MINORITY HEALTH AND HEALTH DISPARITIES RESEARCH 93.307 MD012388 Northern Arizona University MD012388 $31,298 $1,505,518 RESEARCH AND DEVELOPMENT $445,961,340
MINORITY HEALTH AND HEALTH DISPARITIES RESEARCH 93.307 MD17342 University of Minnesota MD17342 $1,099,649 $1,505,518 RESEARCH AND DEVELOPMENT $445,961,340
MINORITY HEALTH AND HEALTH DISPARITIES RESEARCH 93.307 MD17690 Moorhouse School of Medicine MD17690 $40,269 $1,505,518 RESEARCH AND DEVELOPMENT $445,961,340
TRANS-NIH RESEARCH SUPPORT 93.310 AI142773 $287,321 $36,919,033 RESEARCH AND DEVELOPMENT $445,961,340
TRANS-NIH RESEARCH SUPPORT 93.310 CA220378 $67,657 $36,919,033 RESEARCH AND DEVELOPMENT $445,961,340
TRANS-NIH RESEARCH SUPPORT 93.310 DK112326 $1,071,621 $36,919,033 RESEARCH AND DEVELOPMENT $445,961,340
TRANS-NIH RESEARCH SUPPORT 93.310 OD023121 $24,072,734 $36,919,033 RESEARCH AND DEVELOPMENT $445,961,340
TRANS-NIH RESEARCH SUPPORT 93.310 OD034496 $80,063 $36,919,033 RESEARCH AND DEVELOPMENT $445,961,340
TRANS-NIH RESEARCH SUPPORT 93.310 OD23121 $9,189,180 $36,919,033 RESEARCH AND DEVELOPMENT $445,961,340
TRANS-NIH RESEARCH SUPPORT 93.310 TR02471 $244,488 $36,919,033 RESEARCH AND DEVELOPMENT $445,961,340
TRANS-NIH RESEARCH SUPPORT 93.310 AG75941 University of Connecticut AG75941 $153,903 $36,919,033 RESEARCH AND DEVELOPMENT $445,961,340
TRANS-NIH RESEARCH SUPPORT 93.310 AG79754 University of Minnesota AG79754 $281,707 $36,919,033 RESEARCH AND DEVELOPMENT $445,961,340
TRANS-NIH RESEARCH SUPPORT 93.310 AG79758 Sanford-Burnham Medical AG79758 $20,034 $36,919,033 RESEARCH AND DEVELOPMENT $445,961,340
TRANS-NIH RESEARCH SUPPORT 93.310 AG79779 Johns Hopkins University AG79779 $290,524 $36,919,033 RESEARCH AND DEVELOPMENT $445,961,340
TRANS-NIH RESEARCH SUPPORT 93.310 CA268091 University of Michigan CA268091 $14,272 $36,919,033 RESEARCH AND DEVELOPMENT $445,961,340
TRANS-NIH RESEARCH SUPPORT 93.310 GM118971 University of Texas at El Paso GM118971 $2,644 $36,919,033 RESEARCH AND DEVELOPMENT $445,961,340
TRANS-NIH RESEARCH SUPPORT 93.310 NS122602 Conway Medical, LLC NS122602 $22,474 $36,919,033 RESEARCH AND DEVELOPMENT $445,961,340
Massachusetts General
TRANS-NIH RESEARCH SUPPORT 93.310 OD32701 Hospital OD32701 $57,772 $36,919,033 RESEARCH AND DEVELOPMENT $445,961,340
PROTECTING AND IMPROVING HEALTH GLOBALLY: BUILDING AND
STRENGTHENING PUBLIC HEALTH IMPACT, SYSTEMS, CAPACITY AND Vanderbilt University Medical
SECURITY 93.318 NU3HCK000006 Center NU3HCK000006 $52,355 $52,355 RESEARCH AND DEVELOPMENT $445,961,340
EPIDEMIOLOGY AND LABORATORY CAPACITY FOR INFECTIOUS DISEASES Minnesota Department of
(ELC) 93.323 NU50CK00058 Health NU50CK00058 $37,947 $37,947 RESEARCH AND DEVELOPMENT $445,961,340
NATIONAL CENTER FOR ADVANCING TRANSLATIONAL SCIENCES 93.350 TR002377 $20,205 $7,461,664 $10,024,071 RESEARCH AND DEVELOPMENT $445,961,340
NATIONAL CENTER FOR ADVANCING TRANSLATIONAL SCIENCES 93.350 TR002379 $1,081,256 $10,024,071 RESEARCH AND DEVELOPMENT $445,961,340
NATIONAL CENTER FOR ADVANCING TRANSLATIONAL SCIENCES 93.350 TR02062 $121,157 $121,157 $10,024,071 RESEARCH AND DEVELOPMENT $445,961,340
53
MAYO CLINIC
Fiscal Period 1/1/2023 - 12/31/2023
Federal
NATIONAL CENTER FOR ADVANCING TRANSLATIONAL SCIENCES 93.350 TR02380 $526,297 $10,024,071 RESEARCH AND DEVELOPMENT $445,961,340
NATIONAL CENTER FOR ADVANCING TRANSLATIONAL SCIENCES 93.350 TR02743 $378,778 $833,697 $10,024,071 RESEARCH AND DEVELOPMENT $445,961,340
RESEARCH INFRASTRUCTURE PROGRAMS 93.351 OD20166 Iowa State University OD20166 $210,619 $210,619 RESEARCH AND DEVELOPMENT $445,961,340
21ST CENTURY CURES ACT - BEAU BIDEN CANCER MOONSHOT 93.353 CA224018 $27,503 $277,385 $2,293,175 RESEARCH AND DEVELOPMENT $445,961,340
21ST CENTURY CURES ACT - BEAU BIDEN CANCER MOONSHOT 93.353 CA233046 University of North Carolina CA233046 $369,070 $2,293,175 RESEARCH AND DEVELOPMENT $445,961,340
21ST CENTURY CURES ACT - BEAU BIDEN CANCER MOONSHOT 93.353 CA252973 University of New Mexico CA252973 $174 $2,293,175 RESEARCH AND DEVELOPMENT $445,961,340
PUBLIC HEALTH EMERGENCY RESPONSE: COOPERATIVE AGREEMENT Minnesota Department of
FOR EMERGENCY RESPONSE: PUBLIC HEALTH CRISIS RESPONSE 93.354 NU90TP92 Health NU90TP92 $11,769 $11,769 RESEARCH AND DEVELOPMENT $445,961,340
NURSING RESEARCH 93.361 NR020362 $193,393 $1,367,570 RESEARCH AND DEVELOPMENT $445,961,340
NURSING RESEARCH 93.361 NR16433 $7,596 $242,450 $1,367,570 RESEARCH AND DEVELOPMENT $445,961,340
NURSING RESEARCH 93.361 NR18832 $696,846 $1,367,570 RESEARCH AND DEVELOPMENT $445,961,340
NURSING RESEARCH 93.361 NR20362 $20,300 $234,881 $1,367,570 RESEARCH AND DEVELOPMENT $445,961,340
CANCER CAUSE AND PREVENTION RESEARCH 93.393 CA195568 $1,521,258 $2,938,008 $16,707,310 RESEARCH AND DEVELOPMENT $445,961,340
CANCER CAUSE AND PREVENTION RESEARCH 93.393 CA207084 $70,874 $16,707,310 RESEARCH AND DEVELOPMENT $445,961,340
CANCER CAUSE AND PREVENTION RESEARCH 93.393 CA224917 $37,252 $275,741 $16,707,310 RESEARCH AND DEVELOPMENT $445,961,340
CANCER CAUSE AND PREVENTION RESEARCH 93.393 CA237607 $134,720 $1,054,663 $16,707,310 RESEARCH AND DEVELOPMENT $445,961,340
CANCER CAUSE AND PREVENTION RESEARCH 93.393 CA259201 $18,288 $1,043,210 $16,707,310 RESEARCH AND DEVELOPMENT $445,961,340
CANCER CAUSE AND PREVENTION RESEARCH 93.393 CA167551 Stanford University CA167551 $214,636 $16,707,310 RESEARCH AND DEVELOPMENT $445,961,340
CANCER CAUSE AND PREVENTION RESEARCH 93.393 CA207369 University of Massachusetts CA207369 $17,723 $16,707,310 RESEARCH AND DEVELOPMENT $445,961,340
CANCER CAUSE AND PREVENTION RESEARCH 93.393 CA224293 University of Virginia CA224293 $76,744 $16,707,310 RESEARCH AND DEVELOPMENT $445,961,340
Kaiser Foundation Research
CANCER CAUSE AND PREVENTION RESEARCH 93.393 CA233432 Institute CA233432 $37,400 $16,707,310 RESEARCH AND DEVELOPMENT $445,961,340
CANCER CAUSE AND PREVENTION RESEARCH 93.393 CA243483 Baylor College of Medicine CA243483 $57,604 $16,707,310 RESEARCH AND DEVELOPMENT $445,961,340
CANCER CAUSE AND PREVENTION RESEARCH 93.393 CA244670 University of Washington CA244670 $95,608 $16,707,310 RESEARCH AND DEVELOPMENT $445,961,340
CANCER CAUSE AND PREVENTION RESEARCH 93.393 CA246510 St. Jude Children's Hospital CA246510 $90,100 $16,707,310 RESEARCH AND DEVELOPMENT $445,961,340
CANCER CAUSE AND PREVENTION RESEARCH 93.393 CA247283 Johns Hopkins University CA247283 $5,047 $16,707,310 RESEARCH AND DEVELOPMENT $445,961,340
Alaska Native Tribal Health
CANCER CAUSE AND PREVENTION RESEARCH 93.393 CA247642 Consortium CA247642 $6,894 $16,707,310 RESEARCH AND DEVELOPMENT $445,961,340
CANCER CAUSE AND PREVENTION RESEARCH 93.393 CA255082 University of Washington CA255082 $28,047 $16,707,310 RESEARCH AND DEVELOPMENT $445,961,340
CANCER CAUSE AND PREVENTION RESEARCH 93.393 CA256810 Washington University CA256810 $50,711 $16,707,310 RESEARCH AND DEVELOPMENT $445,961,340
CANCER CAUSE AND PREVENTION RESEARCH 93.393 CA258119 University of Vermont CA258119 $11,660 $16,707,310 RESEARCH AND DEVELOPMENT $445,961,340
University of Wisconsin
CANCER CAUSE AND PREVENTION RESEARCH 93.393 CA26211 Madison CA26211 $34,780 $16,707,310 RESEARCH AND DEVELOPMENT $445,961,340
CANCER CAUSE AND PREVENTION RESEARCH 93.393 CA262265 Tufts Medical Center, Inc. CA262265 $80,871 $16,707,310 RESEARCH AND DEVELOPMENT $445,961,340
54
MAYO CLINIC
Fiscal Period 1/1/2023 - 12/31/2023
Federal
University of Texas
CANCER CAUSE AND PREVENTION RESEARCH 93.393 CA265967 Southwestern Medical Center CA265967 $55,385 $16,707,310 RESEARCH AND DEVELOPMENT $445,961,340
NYU Grossman School of
CANCER CAUSE AND PREVENTION RESEARCH 93.393 CA269617 Medicine CA269617 $79,397 $16,707,310 RESEARCH AND DEVELOPMENT $445,961,340
CANCER CAUSE AND PREVENTION RESEARCH 93.393 CA269832 Ohio State University CA269832 $18,338 $16,707,310 RESEARCH AND DEVELOPMENT $445,961,340
CANCER CAUSE AND PREVENTION RESEARCH 93.393 HD100540 Johns Hopkins University HD100540 $18,827 $16,707,310 RESEARCH AND DEVELOPMENT $445,961,340
CANCER DETECTION AND DIAGNOSIS RESEARCH 93.394 CA168762 $406,193 $12,126,929 RESEARCH AND DEVELOPMENT $445,961,340
CANCER DETECTION AND DIAGNOSIS RESEARCH 93.394 CA210138 $275,616 $617,198 $12,126,929 RESEARCH AND DEVELOPMENT $445,961,340
CANCER DETECTION AND DIAGNOSIS RESEARCH 93.394 CA258465 $250,128 $1,190,359 $12,126,929 RESEARCH AND DEVELOPMENT $445,961,340
CANCER DETECTION AND DIAGNOSIS RESEARCH 93.394 CA271410 $119,906 $1,325,204 $12,126,929 RESEARCH AND DEVELOPMENT $445,961,340
CANCER DETECTION AND DIAGNOSIS RESEARCH 93.394 CA161749 University of Pennsylvania CA161749 $7,020 $12,126,929 RESEARCH AND DEVELOPMENT $445,961,340
CANCER DETECTION AND DIAGNOSIS RESEARCH 93.394 CA186709 Dana-Farber Cancer Institute CA186709 $36,721 $12,126,929 RESEARCH AND DEVELOPMENT $445,961,340
CANCER DETECTION AND DIAGNOSIS RESEARCH 93.394 CA196171 Washington University CA196171 $436,728 $12,126,929 RESEARCH AND DEVELOPMENT $445,961,340
Fred Hutchinson Cancer
CANCER DETECTION AND DIAGNOSIS RESEARCH 93.394 CA214114 Research Center CA214114 $6,165 $12,126,929 RESEARCH AND DEVELOPMENT $445,961,340
Albert Einstein College of

CANCER DETECTION AND DIAGNOSIS RESEARCH 93.394 CA218429 Medicine of Yeshiva University CA218429 $174 $12,126,929 RESEARCH AND DEVELOPMENT $445,961,340
CANCER DETECTION AND DIAGNOSIS RESEARCH 93.394 CA223481 Madison CA223481 $33,139 $12,126,929 RESEARCH AND DEVELOPMENT $445,961,340
University of Texas
CANCER DETECTION AND DIAGNOSIS RESEARCH 93.394 CA237659 Southwestern Medical Center CA237659 $37,349 $12,126,929 RESEARCH AND DEVELOPMENT $445,961,340
CANCER DETECTION AND DIAGNOSIS RESEARCH 93.394 CA240181 Purdue University CA240181 $1,107 $12,126,929 RESEARCH AND DEVELOPMENT $445,961,340
CANCER DETECTION AND DIAGNOSIS RESEARCH 93.394 CA246704 University of Central Florida CA246704 $17,194 $12,126,929 RESEARCH AND DEVELOPMENT $445,961,340
CANCER DETECTION AND DIAGNOSIS RESEARCH 93.394 CA247606 St. Joseph Hospital CA247606 $20,892 $12,126,929 RESEARCH AND DEVELOPMENT $445,961,340
Regents of the University of
CANCER DETECTION AND DIAGNOSIS RESEARCH 93.394 CA256969 California San Francisco CA256969 $344,767 $12,126,929 RESEARCH AND DEVELOPMENT $445,961,340
CANCER DETECTION AND DIAGNOSIS RESEARCH 93.394 CA265879 Rhode Island Hospital CA265879 $20,455 $12,126,929 RESEARCH AND DEVELOPMENT $445,961,340
CANCER DETECTION AND DIAGNOSIS RESEARCH 93.394 CA265945 University of Minnesota CA265945 $16,744 $12,126,929 RESEARCH AND DEVELOPMENT $445,961,340
CANCER DETECTION AND DIAGNOSIS RESEARCH 93.394 CA268452 Rush River Research Corp. CA268452 $27,935 $12,126,929 RESEARCH AND DEVELOPMENT $445,961,340
CANCER DETECTION AND DIAGNOSIS RESEARCH 93.394 CA271402 Washington University CA271402 $52,086 $12,126,929 RESEARCH AND DEVELOPMENT $445,961,340
CANCER TREATMENT RESEARCH 93.395 CA150190 $166,411 $25,612,328 RESEARCH AND DEVELOPMENT $445,961,340
CANCER TREATMENT RESEARCH 93.395 CA180882 $512,912 $8,550,918 $25,612,328 RESEARCH AND DEVELOPMENT $445,961,340
CANCER TREATMENT RESEARCH 93.395 CA207183 $96 $206,593 $25,612,328 RESEARCH AND DEVELOPMENT $445,961,340
55
MAYO CLINIC
Fiscal Period 1/1/2023 - 12/31/2023
Federal
CANCER TREATMENT RESEARCH 93.395 CA227954 $18,864 $153,446 $25,612,328 RESEARCH AND DEVELOPMENT $445,961,340
JAEB Center for Health
CANCER TREATMENT RESEARCH 93.395 CA232760 Research, Inc. CA232760 $29,194 $179,923 $25,612,328 RESEARCH AND DEVELOPMENT $445,961,340
CANCER TREATMENT RESEARCH 93.395 75A50122C00039 GRIP Molecular Technologies 75A50122C00039 $9,479 $25,612,328 RESEARCH AND DEVELOPMENT $445,961,340
CANCER TREATMENT RESEARCH 93.395 75N91021C00012 Westat 75N91021C00012 $38,144 $25,612,328 RESEARCH AND DEVELOPMENT $445,961,340
CANCER TREATMENT RESEARCH 93.395 AHOD2131 Mayo Clinic Rochester AHOD2131 $1,549 $25,612,328 RESEARCH AND DEVELOPMENT $445,961,340
CANCER TREATMENT RESEARCH 93.395 ASCT2031 Public Health Institute ASCT2031 $2,905 $25,612,328 RESEARCH AND DEVELOPMENT $445,961,340
Mount Sinai Medical Center of
CANCER TREATMENT RESEARCH 93.395 CA108671 Florida CA108671 $396,745 $25,612,328 RESEARCH AND DEVELOPMENT $445,961,340
CANCER TREATMENT RESEARCH 93.395 CA180820 Coalition of Ntl Cancer Coop CA180820 $92,887 $25,612,328 RESEARCH AND DEVELOPMENT $445,961,340
CANCER TREATMENT RESEARCH 93.395 CA180821 Brigham and Women’s Hospital CA180821 $371,579 $25,612,328 RESEARCH AND DEVELOPMENT $445,961,340
CANCER TREATMENT RESEARCH 93.395 CA180868 NRG Oncology Foundation, Inc. CA180868 $4,905 $25,612,328 RESEARCH AND DEVELOPMENT $445,961,340
The Children’s Hospital Of
CANCER TREATMENT RESEARCH 93.395 CA180886 Philadelphia CA180886 $33,315 $25,612,328 RESEARCH AND DEVELOPMENT $445,961,340
Oregon Health Sciences
CANCER TREATMENT RESEARCH 93.395 CA180888 University CA180888 $12,998 $25,612,328 RESEARCH AND DEVELOPMENT $445,961,340
University of California—San
CANCER TREATMENT RESEARCH 93.395 CA181255 Francisco CA181255 $462,140 $25,612,328 RESEARCH AND DEVELOPMENT $445,961,340
CANCER TREATMENT RESEARCH 93.395 CA186686 National Cancer Institute CA186686 $2,230 $25,612,328 RESEARCH AND DEVELOPMENT $445,961,340
CANCER TREATMENT RESEARCH 93.395 CA186709 Dana-Farber Cancer Institute CA186709 $1,014,395 $25,612,328 RESEARCH AND DEVELOPMENT $445,961,340
CANCER TREATMENT RESEARCH 93.395 CA203430 PPD Development CA203430 $3,203 $25,612,328 RESEARCH AND DEVELOPMENT $445,961,340
CANCER TREATMENT RESEARCH 93.395 CA205406 Dana-Farber Cancer Institute CA205406 $16,739 $25,612,328 RESEARCH AND DEVELOPMENT $445,961,340
CANCER TREATMENT RESEARCH 93.395 CA208851 Cedars Sinai Medical Center CA208851 $27,997 $25,612,328 RESEARCH AND DEVELOPMENT $445,961,340
CANCER TREATMENT RESEARCH 93.395 CA214523 Champaign CA214523 $16,944 $25,612,328 RESEARCH AND DEVELOPMENT $445,961,340
CANCER TREATMENT RESEARCH 93.395 CA217591 Syntrix Biosystems, Inc. CA217591 $82,730 $25,612,328 RESEARCH AND DEVELOPMENT $445,961,340
Fred Hutchinson Cancer
CANCER TREATMENT RESEARCH 93.395 CA227092 Research Center CA227092 $40,746 $25,612,328 RESEARCH AND DEVELOPMENT $445,961,340
56
MAYO CLINIC
Fiscal Period 1/1/2023 - 12/31/2023
Federal
CANCER TREATMENT RESEARCH 93.395 CA228823 Philadelphia CA228823 $43,455 $25,612,328 RESEARCH AND DEVELOPMENT $445,961,340
CANCER TREATMENT RESEARCH 93.395 CA233024 Vyriad CA233024 $11,147 $25,612,328 RESEARCH AND DEVELOPMENT $445,961,340
Sloan-Kettering Cancer
CANCER TREATMENT RESEARCH 93.395 CA233332 Research CA233332 $61,148 $25,612,328 RESEARCH AND DEVELOPMENT $445,961,340
CANCER TREATMENT RESEARCH 93.395 CA233878 Northwestern University CA233878 $81,989 $25,612,328 RESEARCH AND DEVELOPMENT $445,961,340
CANCER TREATMENT RESEARCH 93.395 CA238946 Ohio State University CA238946 $22,368 $25,612,328 RESEARCH AND DEVELOPMENT $445,961,340
Translational Genomics
CANCER TREATMENT RESEARCH 93.395 CA243078 Research Institute CA243078 $59,284 $25,612,328 RESEARCH AND DEVELOPMENT $445,961,340
CANCER TREATMENT RESEARCH 93.395 CA248019 University of Minnesota CA248019 $22,891 $25,612,328 RESEARCH AND DEVELOPMENT $445,961,340
CANCER TREATMENT RESEARCH 93.395 CA249929 University of Pennsylvania CA249929 $50,213 $25,612,328 RESEARCH AND DEVELOPMENT $445,961,340
CANCER TREATMENT RESEARCH 93.395 CA251910 Sanford-Burnham Medical CA251910 $238,619 $25,612,328 RESEARCH AND DEVELOPMENT $445,961,340
CANCER TREATMENT RESEARCH 93.395 CA25224 National Cancer Institute CA25224 $8,283 $25,612,328 RESEARCH AND DEVELOPMENT $445,961,340
University of Louisiana at
CANCER TREATMENT RESEARCH 93.395 CA255176 Monroe CA255176 $46,196 $25,612,328 RESEARCH AND DEVELOPMENT $445,961,340
CANCER TREATMENT RESEARCH 93.395 CA267372 Iowa State University CA267372 $18,411 $25,612,328 RESEARCH AND DEVELOPMENT $445,961,340
CANCER TREATMENT RESEARCH 93.395 CA268286 Oleolive, LLC CA268286 $200,170 $25,612,328 RESEARCH AND DEVELOPMENT $445,961,340
CANCER TREATMENT RESEARCH 93.395 CA272064 Modulation Therapeutics CA272064 $28,659 $25,612,328 RESEARCH AND DEVELOPMENT $445,961,340
CANCER TREATMENT RESEARCH 93.395 CA275560 Targepeutics CA275560 $48,206 $25,612,328 RESEARCH AND DEVELOPMENT $445,961,340
CANCER TREATMENT RESEARCH 93.395 CA277853 Emmyon, Inc. CA277853 $30,773 $25,612,328 RESEARCH AND DEVELOPMENT $445,961,340
CANCER TREATMENT RESEARCH 93.395 CA278184 Trekka Therapeutics LLC CA278184 $34,589 $25,612,328 RESEARCH AND DEVELOPMENT $445,961,340
CANCER TREATMENT RESEARCH 93.395 CA278293 Myosin Therapeutics CA278293 $171,466 $25,612,328 RESEARCH AND DEVELOPMENT $445,961,340
CANCER TREATMENT RESEARCH 93.395 CALGB 140503 Duke Clinical Research Institute CALGB 140503 $627 $25,612,328 RESEARCH AND DEVELOPMENT $445,961,340
CANCER TREATMENT RESEARCH 93.395 NSABP B-47 Mayo Clinic Rochester NSABP B-47 $81 $25,612,328 RESEARCH AND DEVELOPMENT $445,961,340
CANCER BIOLOGY RESEARCH 93.396 CA130908 $44,352 $9,590,211 RESEARCH AND DEVELOPMENT $445,961,340
CANCER BIOLOGY RESEARCH 93.396 CA250481 $379,458 $770,603 $9,590,211 RESEARCH AND DEVELOPMENT $445,961,340
University of Texas Health
CANCER BIOLOGY RESEARCH 93.396 CA194215 Science Center CA194215 $28,120 $9,590,211 RESEARCH AND DEVELOPMENT $445,961,340
Massachusetts Institute of
CANCER BIOLOGY RESEARCH 93.396 CA238720 Technology CA238720 $113,403 $9,590,211 RESEARCH AND DEVELOPMENT $445,961,340
CANCER BIOLOGY RESEARCH 93.396 CA241123 University at Buffalo CA241123 $57,931 $9,590,211 RESEARCH AND DEVELOPMENT $445,961,340
CANCER BIOLOGY RESEARCH 93.396 CA248019 University of Minnesota CA248019 -$2,228 $9,590,211 RESEARCH AND DEVELOPMENT $445,961,340
CANCER BIOLOGY RESEARCH 93.396 CA251443 University of South Wales CA251443 $59,357 $9,590,211 RESEARCH AND DEVELOPMENT $445,961,340
CANCER BIOLOGY RESEARCH 93.396 CA254849 University of Minnesota CA254849 $23,722 $9,590,211 RESEARCH AND DEVELOPMENT $445,961,340
CANCER BIOLOGY RESEARCH 93.396 CA256481 Champaign CA256481 $57,145 $9,590,211 RESEARCH AND DEVELOPMENT $445,961,340
CANCER BIOLOGY RESEARCH 93.396 CA262262 University of Utah CA262262 $44,278 $9,590,211 RESEARCH AND DEVELOPMENT $445,961,340
57
MAYO CLINIC
Fiscal Period 1/1/2023 - 12/31/2023
Federal
Joan & Sanford I. Weill Medical
CANCER BIOLOGY RESEARCH 93.396 CA265892 College CA265892 $17,740 $9,590,211 RESEARCH AND DEVELOPMENT $445,961,340
H. Lee Moffit Cancer Center &
CANCER BIOLOGY RESEARCH 93.396 CA279065 Research Institute CA279065 $11,790 $9,590,211 RESEARCH AND DEVELOPMENT $445,961,340
CANCER CENTERS SUPPORT GRANTS 93.397 CA116201 $282,293 $2,248,503 $14,690,842 RESEARCH AND DEVELOPMENT $445,961,340
CANCER CENTERS SUPPORT GRANTS 93.397 CA15083 $124 $5,534,329 $14,690,842 RESEARCH AND DEVELOPMENT $445,961,340
CANCER CENTERS SUPPORT GRANTS 93.397 CA274504 $140,716 $14,690,842 RESEARCH AND DEVELOPMENT $445,961,340
CANCER CENTERS SUPPORT GRANTS 93.397 CA233444 University of Florida CA233444 $33,910 $14,690,842 RESEARCH AND DEVELOPMENT $445,961,340
CANCER CENTERS SUPPORT GRANTS 93.397 CA272170 University of Michigan CA272170 $56,296 $14,690,842 RESEARCH AND DEVELOPMENT $445,961,340
CANCER CENTERS SUPPORT GRANTS 93.397 CA97274 University of Iowa CA97274 $780 $372,428 $14,690,842 RESEARCH AND DEVELOPMENT $445,961,340
CANCER RESEARCH MANPOWER 93.398 CA257228 $45,666 $1,846,590 RESEARCH AND DEVELOPMENT $445,961,340
CANCER RESEARCH MANPOWER 93.398 CA248972 University of Florida CA248972 $9,540 $1,846,590 RESEARCH AND DEVELOPMENT $445,961,340
CANCER CONTROL 93.399 CA220242 $165,062 $1,957,839 RESEARCH AND DEVELOPMENT $445,961,340
CANCER CONTROL 93.399 CA163060 University CA163060 $13,443 $1,957,839 RESEARCH AND DEVELOPMENT $445,961,340
CANCER CONTROL 93.399 CA189823 Ohio State University CA189823 $1,712,081 $1,957,839 RESEARCH AND DEVELOPMENT $445,961,340
CANCER CONTROL 93.399 CA189955 Philadelphia CA189955 $4,082 $1,957,839 RESEARCH AND DEVELOPMENT $445,961,340
CANCER CONTROL 93.399 CA242635 Madison CA242635 $24,953 $1,957,839 RESEARCH AND DEVELOPMENT $445,961,340
CANCER CONTROL 93.399 CA242643 Northwestern University CA242643 $38,218 $1,957,839 RESEARCH AND DEVELOPMENT $445,961,340
ACL NATIONAL INSTITUTE ON DISABILITY, INDEPENDENT LIVING, AND
REHABILITATION RESEARCH 93.433 90DPTB0031 $506,050 $632,032 RESEARCH AND DEVELOPMENT $445,961,340
REHABILITATION RESEARCH 93.433 90DPHF0006 Indiana University 90DPHF0006 $6,815 $632,032 RESEARCH AND DEVELOPMENT $445,961,340
REHABILITATION RESEARCH 93.433 90DPTB0017 Craig Hospital 90DPTB0017 $10,769 $632,032 RESEARCH AND DEVELOPMENT $445,961,340
REHABILITATION RESEARCH 93.433 90SIMS0008 University of Minnesota 90SIMS0008 $108,398 $632,032 RESEARCH AND DEVELOPMENT $445,961,340
CARDIOVASCULAR DISEASES RESEARCH 93.837 HL07111 $485,646 $17,228,298 RESEARCH AND DEVELOPMENT $445,961,340
CARDIOVASCULAR DISEASES RESEARCH 93.837 HL107304 $16,589 $636,228 $17,228,298 RESEARCH AND DEVELOPMENT $445,961,340
58
MAYO CLINIC
Fiscal Period 1/1/2023 - 12/31/2023
Federal
CARDIOVASCULAR DISEASES RESEARCH 93.837 HL134905 University of Pennsylvania HL134905 $7,659 $17,228,298 RESEARCH AND DEVELOPMENT $445,961,340
CARDIOVASCULAR DISEASES RESEARCH 93.837 HL146127 University of Chicago HL146127 $18,945 $17,228,298 RESEARCH AND DEVELOPMENT $445,961,340
CARDIOVASCULAR DISEASES RESEARCH 93.837 HL146619 University of Michigan HL146619 $55,485 $17,228,298 RESEARCH AND DEVELOPMENT $445,961,340
CARDIOVASCULAR DISEASES RESEARCH 93.837 HL148664 Champaign HL148664 $174,449 $17,228,298 RESEARCH AND DEVELOPMENT $445,961,340
CARDIOVASCULAR DISEASES RESEARCH 93.837 HL151079 Northwestern University HL151079 $35,258 $17,228,298 RESEARCH AND DEVELOPMENT $445,961,340
CARDIOVASCULAR DISEASES RESEARCH 93.837 HL153847 University of Pittsburgh HL153847 $6,927 $17,228,298 RESEARCH AND DEVELOPMENT $445,961,340
CARDIOVASCULAR DISEASES RESEARCH 93.837 HL155373 North Carolina State University HL155373 $51,910 $17,228,298 RESEARCH AND DEVELOPMENT $445,961,340
CARDIOVASCULAR DISEASES RESEARCH 93.837 HL155834 University of Michigan HL155834 $56,639 $17,228,298 RESEARCH AND DEVELOPMENT $445,961,340
CARDIOVASCULAR DISEASES RESEARCH 93.837 HL157220 Medicine HL157220 $22,338 $17,228,298 RESEARCH AND DEVELOPMENT $445,961,340
CARDIOVASCULAR DISEASES RESEARCH 93.837 HL159216 Indiana University HL159216 $14,297 $17,228,298 RESEARCH AND DEVELOPMENT $445,961,340
Beth Israel Deaconess Medical
CARDIOVASCULAR DISEASES RESEARCH 93.837 HL161697 Center HL161697 $1,600 $17,228,298 RESEARCH AND DEVELOPMENT $445,961,340
CARDIOVASCULAR DISEASES RESEARCH 93.837 HL161765 Binghamton University HL161765 $44,028 $17,228,298 RESEARCH AND DEVELOPMENT $445,961,340
CARDIOVASCULAR DISEASES RESEARCH 93.837 HL164140 Vivita Technologies, Inc. HL164140 $36,310 $17,228,298 RESEARCH AND DEVELOPMENT $445,961,340
CARDIOVASCULAR DISEASES RESEARCH 93.837 HL164379 Cleveland Clinic Foundation HL164379 $3,021 $17,228,298 RESEARCH AND DEVELOPMENT $445,961,340
CARDIOVASCULAR DISEASES RESEARCH 93.837 HL167947 Technology HL167947 $9,247 $17,228,298 RESEARCH AND DEVELOPMENT $445,961,340
CARDIOVASCULAR DISEASES RESEARCH 93.837 HL96812 Johns Hopkins University HL96812 $126,119 $17,228,298 RESEARCH AND DEVELOPMENT $445,961,340
LUNG DISEASES RESEARCH 93.838 HL126667 $49,347 $383,428 $20,576,829 RESEARCH AND DEVELOPMENT $445,961,340
LUNG DISEASES RESEARCH 93.838 HL138150 $62,067 $20,576,829 RESEARCH AND DEVELOPMENT $445,961,340
LUNG DISEASES RESEARCH 93.838 HL146114 -$93,581 $20,576,829 RESEARCH AND DEVELOPMENT $445,961,340
59
MAYO CLINIC
Fiscal Period 1/1/2023 - 12/31/2023
Federal
LUNG DISEASES RESEARCH 93.838 HL158287 The University of Arizona HL158287 $44,282 $20,576,829 RESEARCH AND DEVELOPMENT $445,961,340
Vanderbilt University Medical
LUNG DISEASES RESEARCH 93.838 HL108800 Center HL108800 $546 $20,576,829 RESEARCH AND DEVELOPMENT $445,961,340
LUNG DISEASES RESEARCH 93.838 HL125177 Cleveland Clinic Foundation HL125177 $10,721 $20,576,829 RESEARCH AND DEVELOPMENT $445,961,340
LUNG DISEASES RESEARCH 93.838 HL138998 University of North Carolina HL138998 $131,801 $20,576,829 RESEARCH AND DEVELOPMENT $445,961,340
LUNG DISEASES RESEARCH 93.838 HL139054 University of Arizona HL139054 $38,882 $20,576,829 RESEARCH AND DEVELOPMENT $445,961,340
LUNG DISEASES RESEARCH 93.838 HL139126 Indiana University HL139126 $24,137 $20,576,829 RESEARCH AND DEVELOPMENT $445,961,340
LUNG DISEASES RESEARCH 93.838 HL140177 Hospital HL140177 $37,659 $20,576,829 RESEARCH AND DEVELOPMENT $445,961,340
LUNG DISEASES RESEARCH 93.838 HL141722 Stanford University HL141722 $352,732 $20,576,829 RESEARCH AND DEVELOPMENT $445,961,340
LUNG DISEASES RESEARCH 93.838 HL142093 Brigham and Women’s Hospital HL142093 $18,246 $20,576,829 RESEARCH AND DEVELOPMENT $445,961,340
LUNG DISEASES RESEARCH 93.838 HL142269 University of Pennsylvania HL142269 $111,001 $20,576,829 RESEARCH AND DEVELOPMENT $445,961,340
LUNG DISEASES RESEARCH 93.838 HL142596 Boston University HL142596 $17,164 $20,576,829 RESEARCH AND DEVELOPMENT $445,961,340
LUNG DISEASES RESEARCH 93.838 HL145265 University of Michigan HL145265 $18,654 $20,576,829 RESEARCH AND DEVELOPMENT $445,961,340
LUNG DISEASES RESEARCH 93.838 HL146705 North Dakota State University HL146705 $65,354 $20,576,829 RESEARCH AND DEVELOPMENT $445,961,340
LUNG DISEASES RESEARCH 93.838 HL147261 University of Michigan HL147261 $3,174 $20,576,829 RESEARCH AND DEVELOPMENT $445,961,340
LUNG DISEASES RESEARCH 93.838 HL148437 National Jewish Health HL148437 $14,814 $20,576,829 RESEARCH AND DEVELOPMENT $445,961,340
LUNG DISEASES RESEARCH 93.838 HL151865 University of Colorado HL151865 $19,424 $20,576,829 RESEARCH AND DEVELOPMENT $445,961,340
LUNG DISEASES RESEARCH 93.838 HL155410 Stanford University HL155410 $156,038 $20,576,829 RESEARCH AND DEVELOPMENT $445,961,340
LUNG DISEASES RESEARCH 93.838 HL156812 Duke University HL156812 $554,607 $20,576,829 RESEARCH AND DEVELOPMENT $445,961,340
LUNG DISEASES RESEARCH 93.838 HL157424 National Jewish Health HL157424 $224,388 $20,576,829 RESEARCH AND DEVELOPMENT $445,961,340
LUNG DISEASES RESEARCH 93.838 HL158287 The University of Arizona HL158287 $163,249 $20,576,829 RESEARCH AND DEVELOPMENT $445,961,340
LUNG DISEASES RESEARCH 93.838 HL158507 Indiana University HL158507 $2,792 $20,576,829 RESEARCH AND DEVELOPMENT $445,961,340
LUNG DISEASES RESEARCH 93.838 HL161674 Cleveland Clinic Foundation HL161674 $3,763 $20,576,829 RESEARCH AND DEVELOPMENT $445,961,340
LUNG DISEASES RESEARCH 93.838 HL161847 Medicine HL161847 $8,751,531 $20,576,829 RESEARCH AND DEVELOPMENT $445,961,340
LUNG DISEASES RESEARCH 93.838 HL162169 Shape Medical Systems, Inc. HL162169 $8,763 $20,576,829 RESEARCH AND DEVELOPMENT $445,961,340
LUNG DISEASES RESEARCH 93.838 HL165960 Quench Medical, Inc. HL165960 $19,055 $20,576,829 RESEARCH AND DEVELOPMENT $445,961,340
LUNG DISEASES RESEARCH 93.838 HL166402 University of Maryland HL166402 $147,167 $20,576,829 RESEARCH AND DEVELOPMENT $445,961,340
LUNG DISEASES RESEARCH 93.838 HL170961 University of Virginia HL170961 $29,642 $20,576,829 RESEARCH AND DEVELOPMENT $445,961,340
BLOOD DISEASES AND RESOURCES RESEARCH 93.839 HL137193 $26,060 $3,102,351 RESEARCH AND DEVELOPMENT $445,961,340
BLOOD DISEASES AND RESOURCES RESEARCH 93.839 HL159561 $151,930 $252,210 $3,102,351 RESEARCH AND DEVELOPMENT $445,961,340
BLOOD DISEASES AND RESOURCES RESEARCH 93.839 HL166238 $56,391 $107,271 $3,102,351 RESEARCH AND DEVELOPMENT $445,961,340
BLOOD DISEASES AND RESOURCES RESEARCH 93.839 HL157401 Birmingham HL157401 $7,834 $3,102,351 RESEARCH AND DEVELOPMENT $445,961,340
60
MAYO CLINIC
Fiscal Period 1/1/2023 - 12/31/2023
Federal
National Marrow Donor
BLOOD DISEASES AND RESOURCES RESEARCH 93.839 BMT CTN 1506 Program BMT CTN 1506 $15,396 $3,102,351 RESEARCH AND DEVELOPMENT $445,961,340
BLOOD DISEASES AND RESOURCES RESEARCH 93.839 HL130724 Versiti HL130724 $34,698 $3,102,351 RESEARCH AND DEVELOPMENT $445,961,340
Washington University in St.
BLOOD DISEASES AND RESOURCES RESEARCH 93.839 HL138325 Louis HL138325 $5,760 $3,102,351 RESEARCH AND DEVELOPMENT $445,961,340
BLOOD DISEASES AND RESOURCES RESEARCH 93.839 HL138645 University of Alabama HL138645 $14,138 $3,102,351 RESEARCH AND DEVELOPMENT $445,961,340
BLOOD DISEASES AND RESOURCES RESEARCH 93.839 HL140097 Cleveland Clinic Foundation HL140097 $11,674 $3,102,351 RESEARCH AND DEVELOPMENT $445,961,340
BLOOD DISEASES AND RESOURCES RESEARCH 93.839 HL142389 Syntrix Biosystems, Inc. HL142389 $20,517 $3,102,351 RESEARCH AND DEVELOPMENT $445,961,340
BLOOD DISEASES AND RESOURCES RESEARCH 93.839 HL147894 University of Washington HL147894 $12,353 $3,102,351 RESEARCH AND DEVELOPMENT $445,961,340
BLOOD DISEASES AND RESOURCES RESEARCH 93.839 HL148120 Versiti HL148120 $8,108 $3,102,351 RESEARCH AND DEVELOPMENT $445,961,340
BLOOD DISEASES AND RESOURCES RESEARCH 93.839 HL154385 University of Washington HL154385 $74,316 $3,102,351 RESEARCH AND DEVELOPMENT $445,961,340
BLOOD DISEASES AND RESOURCES RESEARCH 93.839 HL157401 Birmingham HL157401 $1,567 $3,102,351 RESEARCH AND DEVELOPMENT $445,961,340
BLOOD DISEASES AND RESOURCES RESEARCH 93.839 HL161804 Sanford-Burnham Medical HL161804 $257,935 $3,102,351 RESEARCH AND DEVELOPMENT $445,961,340
TRANSLATION AND IMPLEMENTATION SCIENCE RESEARCH FOR HEART,
LUNG, BLOOD DISEASES, AND SLEEP DISORDERS 93.840 HL151662 $305,194 $596,879 $596,879 RESEARCH AND DEVELOPMENT $445,961,340
ARTHRITIS, MUSCULOSKELETAL AND SKIN DISEASES RESEARCH 93.846 AR82227 $20,843 $8,127,208 RESEARCH AND DEVELOPMENT $445,961,340
ARTHRITIS, MUSCULOSKELETAL AND SKIN DISEASES RESEARCH 93.846 AR077538 $185,637 $514,539 $8,127,208 RESEARCH AND DEVELOPMENT $445,961,340
ARTHRITIS, MUSCULOSKELETAL AND SKIN DISEASES RESEARCH 93.846 AR55557 Brigham and Women’s Hospital AR55557 $21,546 $8,127,208 RESEARCH AND DEVELOPMENT $445,961,340
ARTHRITIS, MUSCULOSKELETAL AND SKIN DISEASES RESEARCH 93.846 AR69400 Emmyon, Inc. AR69400 $188,025 $8,127,208 RESEARCH AND DEVELOPMENT $445,961,340
ARTHRITIS, MUSCULOSKELETAL AND SKIN DISEASES RESEARCH 93.846 AR76568 University of Pittsburgh AR76568 $107,261 $8,127,208 RESEARCH AND DEVELOPMENT $445,961,340
ARTHRITIS, MUSCULOSKELETAL AND SKIN DISEASES RESEARCH 93.846 AR77360 Johns Hopkins University AR77360 $15,292 $8,127,208 RESEARCH AND DEVELOPMENT $445,961,340
ARTHRITIS, MUSCULOSKELETAL AND SKIN DISEASES RESEARCH 93.846 AR78073 University of Michigan AR78073 $26,534 $8,127,208 RESEARCH AND DEVELOPMENT $445,961,340
ARTHRITIS, MUSCULOSKELETAL AND SKIN DISEASES RESEARCH 93.846 AR78389 University of California Irvine AR78389 $34,979 $8,127,208 RESEARCH AND DEVELOPMENT $445,961,340
ARTHRITIS, MUSCULOSKELETAL AND SKIN DISEASES RESEARCH 93.846 AR78924 Rhode Island Hospital AR78924 $90,204 $8,127,208 RESEARCH AND DEVELOPMENT $445,961,340
ARTHRITIS, MUSCULOSKELETAL AND SKIN DISEASES RESEARCH 93.846 AR81040 Northeastern University AR81040 $78,778 $8,127,208 RESEARCH AND DEVELOPMENT $445,961,340
University of Texas Health at
ARTHRITIS, MUSCULOSKELETAL AND SKIN DISEASES RESEARCH 93.846 AR81382 Houston AR81382 $3,379 $8,127,208 RESEARCH AND DEVELOPMENT $445,961,340
DIABETES, DIGESTIVE, AND KIDNEY DISEASES EXTRAMURAL RESEARCH 93.847 DK124190 $5,000 $35,933,190 RESEARCH AND DEVELOPMENT $445,961,340
DIABETES, DIGESTIVE, AND KIDNEY DISEASES EXTRAMURAL RESEARCH 93.847 DK078646 $59,727 $436,053 $35,933,190 RESEARCH AND DEVELOPMENT $445,961,340
61
MAYO CLINIC
Fiscal Period 1/1/2023 - 12/31/2023
Federal
DIABETES, DIGESTIVE, AND KIDNEY DISEASES EXTRAMURAL RESEARCH 93.847 DK118619 $560,548 $1,136,898 $35,933,190 RESEARCH AND DEVELOPMENT $445,961,340
62
MAYO CLINIC
Fiscal Period 1/1/2023 - 12/31/2023
Federal
DIABETES, DIGESTIVE, AND KIDNEY DISEASES EXTRAMURAL RESEARCH 93.847 DK84567 $1,182,954 $35,933,190 RESEARCH AND DEVELOPMENT $445,961,340
DIABETES, DIGESTIVE, AND KIDNEY DISEASES EXTRAMURAL RESEARCH 93.847 APOL1 University of Miami APOL1 $396 $35,933,190 RESEARCH AND DEVELOPMENT $445,961,340
DIABETES, DIGESTIVE, AND KIDNEY DISEASES EXTRAMURAL RESEARCH 93.847 DK100846 University of Pennsylvania DK100846 $2,018 $35,933,190 RESEARCH AND DEVELOPMENT $445,961,340
The Research Institute at
DIABETES, DIGESTIVE, AND KIDNEY DISEASES EXTRAMURAL RESEARCH 93.847 DK100866 Nationwide Children's Hospital DK100866 $1,933 $35,933,190 RESEARCH AND DEVELOPMENT $445,961,340
DIABETES, DIGESTIVE, AND KIDNEY DISEASES EXTRAMURAL RESEARCH 93.847 DK101240 Oasis Pharmaceuticals, LLC DK101240 $183,904 $35,933,190 RESEARCH AND DEVELOPMENT $445,961,340
Medical University of South
DIABETES, DIGESTIVE, AND KIDNEY DISEASES EXTRAMURAL RESEARCH 93.847 DK104833 Carolina DK104833 $13,127 $35,933,190 RESEARCH AND DEVELOPMENT $445,961,340
DIABETES, DIGESTIVE, AND KIDNEY DISEASES EXTRAMURAL RESEARCH 93.847 DK106993 University of South Florida DK106993 $13,320 $35,933,190 RESEARCH AND DEVELOPMENT $445,961,340
University of Texas
DIABETES, DIGESTIVE, AND KIDNEY DISEASES EXTRAMURAL RESEARCH 93.847 DK107733 Southwestern Medical Center DK107733 $257,164 $35,933,190 RESEARCH AND DEVELOPMENT $445,961,340
DIABETES, DIGESTIVE, AND KIDNEY DISEASES EXTRAMURAL RESEARCH 93.847 DK108288 University of Texas DK108288 $56,208 $35,933,190 RESEARCH AND DEVELOPMENT $445,961,340
Washington University in St.
DIABETES, DIGESTIVE, AND KIDNEY DISEASES EXTRAMURAL RESEARCH 93.847 DK110986 Louis DK110986 $151,408 $35,933,190 RESEARCH AND DEVELOPMENT $445,961,340
Children's Hospital of
DIABETES, DIGESTIVE, AND KIDNEY DISEASES EXTRAMURAL RESEARCH 93.847 DK114786 Philadelphia DK114786 $1,666 $35,933,190 RESEARCH AND DEVELOPMENT $445,961,340
DIABETES, DIGESTIVE, AND KIDNEY DISEASES EXTRAMURAL RESEARCH 93.847 DK114857 Northwestern University DK114857 $8,370 $35,933,190 RESEARCH AND DEVELOPMENT $445,961,340
DIABETES, DIGESTIVE, AND KIDNEY DISEASES EXTRAMURAL RESEARCH 93.847 DK115255 Georgia Regents University DK115255 $12,809 $35,933,190 RESEARCH AND DEVELOPMENT $445,961,340
DIABETES, DIGESTIVE, AND KIDNEY DISEASES EXTRAMURAL RESEARCH 93.847 DK115575 University of North Carolina DK115575 $227,845 $35,933,190 RESEARCH AND DEVELOPMENT $445,961,340
DIABETES, DIGESTIVE, AND KIDNEY DISEASES EXTRAMURAL RESEARCH 93.847 DK116092 Madison DK116092 $14,473 $35,933,190 RESEARCH AND DEVELOPMENT $445,961,340
DIABETES, DIGESTIVE, AND KIDNEY DISEASES EXTRAMURAL RESEARCH 93.847 DK116102 Joslin Diabetes Center DK116102 $12,716 $35,933,190 RESEARCH AND DEVELOPMENT $445,961,340
Medical University of South
DIABETES, DIGESTIVE, AND KIDNEY DISEASES EXTRAMURAL RESEARCH 93.847 DK116743 Carolina DK116743 $5,972 $35,933,190 RESEARCH AND DEVELOPMENT $445,961,340
DIABETES, DIGESTIVE, AND KIDNEY DISEASES EXTRAMURAL RESEARCH 93.847 DK117133 Sanford-Burnham Medical DK117133 $196,701 $35,933,190 RESEARCH AND DEVELOPMENT $445,961,340
DIABETES, DIGESTIVE, AND KIDNEY DISEASES EXTRAMURAL RESEARCH 93.847 DK117236 Hospital DK117236 $838 $35,933,190 RESEARCH AND DEVELOPMENT $445,961,340
DIABETES, DIGESTIVE, AND KIDNEY DISEASES EXTRAMURAL RESEARCH 93.847 DK120261 Oxalo Therapeutics, Inc. DK120261 $121,385 $35,933,190 RESEARCH AND DEVELOPMENT $445,961,340
DIABETES, DIGESTIVE, AND KIDNEY DISEASES EXTRAMURAL RESEARCH 93.847 DK120358 Harvard University DK120358 $23,914 $35,933,190 RESEARCH AND DEVELOPMENT $445,961,340
Jaeb Center for Health
DIABETES, DIGESTIVE, AND KIDNEY DISEASES EXTRAMURAL RESEARCH 93.847 DK121240 Research DK121240 $17 $35,933,190 RESEARCH AND DEVELOPMENT $445,961,340
63
MAYO CLINIC
Fiscal Period 1/1/2023 - 12/31/2023
Federal
DIABETES, DIGESTIVE, AND KIDNEY DISEASES EXTRAMURAL RESEARCH 93.847 DK121330 University of Texas Houston DK121330 $29,023 $35,933,190 RESEARCH AND DEVELOPMENT $445,961,340
DIABETES, DIGESTIVE, AND KIDNEY DISEASES EXTRAMURAL RESEARCH 93.847 DK122603 Research DK122603 $161,098 $35,933,190 RESEARCH AND DEVELOPMENT $445,961,340
DIABETES, DIGESTIVE, AND KIDNEY DISEASES EXTRAMURAL RESEARCH 93.847 DK123441 Arizona State University DK123441 $48,557 $35,933,190 RESEARCH AND DEVELOPMENT $445,961,340
DIABETES, DIGESTIVE, AND KIDNEY DISEASES EXTRAMURAL RESEARCH 93.847 DK125243 Adva-Tec, Ins. DK125243 $70,562 $35,933,190 RESEARCH AND DEVELOPMENT $445,961,340
DIABETES, DIGESTIVE, AND KIDNEY DISEASES EXTRAMURAL RESEARCH 93.847 DK125431 University of Minnesota DK125431 $367,449 $35,933,190 RESEARCH AND DEVELOPMENT $445,961,340
DIABETES, DIGESTIVE, AND KIDNEY DISEASES EXTRAMURAL RESEARCH 93.847 DK125495 Cedars Sinai Medical Center DK125495 $111,007 $35,933,190 RESEARCH AND DEVELOPMENT $445,961,340
DIABETES, DIGESTIVE, AND KIDNEY DISEASES EXTRAMURAL RESEARCH 93.847 DK125680 Johns Hopkins University DK125680 -$2,765 $35,933,190 RESEARCH AND DEVELOPMENT $445,961,340
DIABETES, DIGESTIVE, AND KIDNEY DISEASES EXTRAMURAL RESEARCH 93.847 DK125692 University of Alabama DK125692 $18,445 $35,933,190 RESEARCH AND DEVELOPMENT $445,961,340
DIABETES, DIGESTIVE, AND KIDNEY DISEASES EXTRAMURAL RESEARCH 93.847 DK125911 Duke University DK125911 $10,130 $35,933,190 RESEARCH AND DEVELOPMENT $445,961,340
University of Maryland-
DIABETES, DIGESTIVE, AND KIDNEY DISEASES EXTRAMURAL RESEARCH 93.847 DK126110 Baltimore DK126110 $155,878 $35,933,190 RESEARCH AND DEVELOPMENT $445,961,340
DIABETES, DIGESTIVE, AND KIDNEY DISEASES EXTRAMURAL RESEARCH 93.847 DK127403 Cedars Sinai Medical Center DK127403 $10,392 $35,933,190 RESEARCH AND DEVELOPMENT $445,961,340
DIABETES, DIGESTIVE, AND KIDNEY DISEASES EXTRAMURAL RESEARCH 93.847 DK128100 University of Pittsburgh DK128100 $163,438 $35,933,190 RESEARCH AND DEVELOPMENT $445,961,340
DIABETES, DIGESTIVE, AND KIDNEY DISEASES EXTRAMURAL RESEARCH 93.847 DK128842 University of Colorado DK128842 $42,346 $35,933,190 RESEARCH AND DEVELOPMENT $445,961,340
Virginia Commonwealth
DIABETES, DIGESTIVE, AND KIDNEY DISEASES EXTRAMURAL RESEARCH 93.847 DK129564 University DK129564 $46,154 $35,933,190 RESEARCH AND DEVELOPMENT $445,961,340
DIABETES, DIGESTIVE, AND KIDNEY DISEASES EXTRAMURAL RESEARCH 93.847 DK129616 Yale University DK129616 $51,125 $35,933,190 RESEARCH AND DEVELOPMENT $445,961,340
DIABETES, DIGESTIVE, AND KIDNEY DISEASES EXTRAMURAL RESEARCH 93.847 DK131133 Champaign DK131133 $22,764 $35,933,190 RESEARCH AND DEVELOPMENT $445,961,340
DIABETES, DIGESTIVE, AND KIDNEY DISEASES EXTRAMURAL RESEARCH 93.847 DK131586 University of Pittsburgh DK131586 $123,668 $35,933,190 RESEARCH AND DEVELOPMENT $445,961,340
DIABETES, DIGESTIVE, AND KIDNEY DISEASES EXTRAMURAL RESEARCH 93.847 DK131708 Maggie's Pearl, LLC. DK131708 $60,766 $35,933,190 RESEARCH AND DEVELOPMENT $445,961,340
DIABETES, DIGESTIVE, AND KIDNEY DISEASES EXTRAMURAL RESEARCH 93.847 DK132709 Indiana University DK132709 $8,852 $35,933,190 RESEARCH AND DEVELOPMENT $445,961,340
DIABETES, DIGESTIVE, AND KIDNEY DISEASES EXTRAMURAL RESEARCH 93.847 DK132781 University of Minnesota DK132781 $1,472 $35,933,190 RESEARCH AND DEVELOPMENT $445,961,340
DIABETES, DIGESTIVE, AND KIDNEY DISEASES EXTRAMURAL RESEARCH 93.847 DK133947 University of Chicago DK133947 $432,199 $35,933,190 RESEARCH AND DEVELOPMENT $445,961,340
DIABETES, DIGESTIVE, AND KIDNEY DISEASES EXTRAMURAL RESEARCH 93.847 DK134321 Northwestern University DK134321 $2,908 $35,933,190 RESEARCH AND DEVELOPMENT $445,961,340
Hennepin Healthcare Research
DIABETES, DIGESTIVE, AND KIDNEY DISEASES EXTRAMURAL RESEARCH 93.847 DK134482 Institute DK134482 $60,423 $35,933,190 RESEARCH AND DEVELOPMENT $445,961,340
DIABETES, DIGESTIVE, AND KIDNEY DISEASES EXTRAMURAL RESEARCH 93.847 DK29953 University of Virginia DK29953 $31,212 $35,933,190 RESEARCH AND DEVELOPMENT $445,961,340
DIABETES, DIGESTIVE, AND KIDNEY DISEASES EXTRAMURAL RESEARCH 93.847 DK57846 Yale University DK57846 $10,657 $35,933,190 RESEARCH AND DEVELOPMENT $445,961,340
DIABETES, DIGESTIVE, AND KIDNEY DISEASES EXTRAMURAL RESEARCH 93.847 DK74008 Johns Hopkins University DK74008 $358,181 $35,933,190 RESEARCH AND DEVELOPMENT $445,961,340
DIABETES, DIGESTIVE, AND KIDNEY DISEASES EXTRAMURAL RESEARCH 93.847 DK83912 University of Michigan DK83912 $14,473 $35,933,190 RESEARCH AND DEVELOPMENT $445,961,340
DIABETES, DIGESTIVE, AND KIDNEY DISEASES EXTRAMURAL RESEARCH 93.847 DK88925 Madison DK88925 $3,505 $35,933,190 RESEARCH AND DEVELOPMENT $445,961,340
DIABETES, DIGESTIVE, AND KIDNEY DISEASES EXTRAMURAL RESEARCH 93.847 MAYO-UOFM #203 University of Minnesota MAYO-UOFM #203 $156,484 $35,933,190 RESEARCH AND DEVELOPMENT $445,961,340
EXTRAMURAL RESEARCH PROGRAMS IN THE NEUROSCIENCES AND
NEUROLOGICAL DISORDERS 93.853 NS115202 $33,555 $42,574,214 RESEARCH AND DEVELOPMENT $445,961,340
NEUROLOGICAL DISORDERS 93.853 NS100620 $2,330,487 $42,574,214 RESEARCH AND DEVELOPMENT $445,961,340
NEUROLOGICAL DISORDERS 93.853 NS103870 $486,237 $704,204 $42,574,214 RESEARCH AND DEVELOPMENT $445,961,340
64
MAYO CLINIC
Fiscal Period 1/1/2023 - 12/31/2023
Federal
NEUROLOGICAL DISORDERS 93.853 NS110435 $1,170,665 $1,993,987 $42,574,214 RESEARCH AND DEVELOPMENT $445,961,340
NEUROLOGICAL DISORDERS 93.853 NS115198 $639,588 $1,266,585 $42,574,214 RESEARCH AND DEVELOPMENT $445,961,340
65
MAYO CLINIC
Fiscal Period 1/1/2023 - 12/31/2023
Federal
NEUROLOGICAL DISORDERS 93.853 NS80168 $2,615,683 $4,546,476 $42,574,214 RESEARCH AND DEVELOPMENT $445,961,340
NEUROLOGICAL DISORDERS 93.853 NS97273 $1,280,553 $42,574,214 RESEARCH AND DEVELOPMENT $445,961,340
NEUROLOGICAL DISORDERS 93.853 NS095869 University of Cincinnati NS095869 $7,967 $42,574,214 RESEARCH AND DEVELOPMENT $445,961,340
EXTRAMURAL RESEARCH PROGRAMS IN THE NEUROSCIENCES AND University of Southern
NEUROLOGICAL DISORDERS 93.853 NS104095 California NS104095 $8,792 $42,574,214 RESEARCH AND DEVELOPMENT $445,961,340
NEUROLOGICAL DISORDERS 93.853 NS104157 University of Chicago NS104157 $0 $42,574,214 RESEARCH AND DEVELOPMENT $445,961,340
NEUROLOGICAL DISORDERS 93.853 NS107624 Yale University NS107624 $36,315 $42,574,214 RESEARCH AND DEVELOPMENT $445,961,340
66
MAYO CLINIC
Fiscal Period 1/1/2023 - 12/31/2023
Federal
NEUROLOGICAL DISORDERS 93.853 NS108916 Health Research, Inc. NS108916 $38,783 $42,574,214 RESEARCH AND DEVELOPMENT $445,961,340
NEUROLOGICAL DISORDERS 93.853 NS110438 Columbia University NS110438 $316,686 $42,574,214 RESEARCH AND DEVELOPMENT $445,961,340
NEUROLOGICAL DISORDERS 93.853 NS111039 Duke University NS111039 $16,304 $42,574,214 RESEARCH AND DEVELOPMENT $445,961,340
NEUROLOGICAL DISORDERS 93.853 NS111981 Cleveland Clinic Foundation NS111981 $164,640 $42,574,214 RESEARCH AND DEVELOPMENT $445,961,340
NEUROLOGICAL DISORDERS 93.853 NS112826 Yale University NS112826 $169,042 $42,574,214 RESEARCH AND DEVELOPMENT $445,961,340
EXTRAMURAL RESEARCH PROGRAMS IN THE NEUROSCIENCES AND University of California—San
NEUROLOGICAL DISORDERS 93.853 NS113637 Francisco NS113637 $224,270 $42,574,214 RESEARCH AND DEVELOPMENT $445,961,340
NEUROLOGICAL DISORDERS 93.853 NS114552 University of Chicago NS114552 $50,799 $42,574,214 RESEARCH AND DEVELOPMENT $445,961,340
EXTRAMURAL RESEARCH PROGRAMS IN THE NEUROSCIENCES AND Massachusetts General
NEUROLOGICAL DISORDERS 93.853 NS115388 Hospital NS115388 $124,721 $2,893,077 $42,574,214 RESEARCH AND DEVELOPMENT $445,961,340
NEUROLOGICAL DISORDERS 93.853 NS115708 University of Pittsburgh NS115708 $12,920 $42,574,214 RESEARCH AND DEVELOPMENT $445,961,340
NEUROLOGICAL DISORDERS 93.853 NS117844 Ohio State University NS117844 $173,743 $42,574,214 RESEARCH AND DEVELOPMENT $445,961,340
NEUROLOGICAL DISORDERS 93.853 NS118669 Sun Health Research Institute NS118669 $68,326 $42,574,214 RESEARCH AND DEVELOPMENT $445,961,340
NEUROLOGICAL DISORDERS 93.853 NS119587 Houston Methodist Research NS119587 $25,983 $42,574,214 RESEARCH AND DEVELOPMENT $445,961,340
NEUROLOGICAL DISORDERS 93.853 NS119714 Scripps Research Institute NS119714 $120,642 $42,574,214 RESEARCH AND DEVELOPMENT $445,961,340
NEUROLOGICAL DISORDERS 93.853 NS119834 The University of Texas Health NS119834 $214,460 $42,574,214 RESEARCH AND DEVELOPMENT $445,961,340
NEUROLOGICAL DISORDERS 93.853 NS120331 St. Joseph Hospital NS120331 $22,657 $42,574,214 RESEARCH AND DEVELOPMENT $445,961,340
EXTRAMURAL RESEARCH PROGRAMS IN THE NEUROSCIENCES AND University of Texas Southwest
NEUROLOGICAL DISORDERS 93.853 NS120496 Medical Center NS120496 $21,521 $42,574,214 RESEARCH AND DEVELOPMENT $445,961,340
NEUROLOGICAL DISORDERS 93.853 NS120557 Johns Hopkins University NS120557 $3,415 $42,574,214 RESEARCH AND DEVELOPMENT $445,961,340
NEUROLOGICAL DISORDERS 93.853 NS120901 University of Utah NS120901 $104,006 $42,574,214 RESEARCH AND DEVELOPMENT $445,961,340
NEUROLOGICAL DISORDERS 93.853 NS121720 Stanford University NS121720 $1,943 $42,574,214 RESEARCH AND DEVELOPMENT $445,961,340
EXTRAMURAL RESEARCH PROGRAMS IN THE NEUROSCIENCES AND Case Western Reserve
NEUROLOGICAL DISORDERS 93.853 NS121928 University NS121928 $46,687 $42,574,214 RESEARCH AND DEVELOPMENT $445,961,340
NEUROLOGICAL DISORDERS 93.853 NS122226 Binghamton University NS122226 $13,201 $42,574,214 RESEARCH AND DEVELOPMENT $445,961,340
NEUROLOGICAL DISORDERS 93.853 NS122419 New York University NS122419 $156,939 $42,574,214 RESEARCH AND DEVELOPMENT $445,961,340
NEUROLOGICAL DISORDERS 93.853 NS122764 Johns Hopkins University NS122764 $32,453 $42,574,214 RESEARCH AND DEVELOPMENT $445,961,340
NEUROLOGICAL DISORDERS 93.853 NS123743 Stanford University NS123743 $378,722 $42,574,214 RESEARCH AND DEVELOPMENT $445,961,340
NEUROLOGICAL DISORDERS 93.853 NS123958 University of New Mexico NS123958 $65,243 $42,574,214 RESEARCH AND DEVELOPMENT $445,961,340
NEUROLOGICAL DISORDERS 93.853 NS124065 University of Minnesota NS124065 $114,761 $42,574,214 RESEARCH AND DEVELOPMENT $445,961,340
NEUROLOGICAL DISORDERS 93.853 NS125895 Wincs International, LLC NS125895 $161,654 $42,574,214 RESEARCH AND DEVELOPMENT $445,961,340
67
MAYO CLINIC
Fiscal Period 1/1/2023 - 12/31/2023
Federal
NEUROLOGICAL DISORDERS 93.853 NS127187 University of Pittsburgh NS127187 $378,354 $42,574,214 RESEARCH AND DEVELOPMENT $445,961,340
NEUROLOGICAL DISORDERS 93.853 NS128199 Medical College of Wisconsin NS128199 $105,655 $42,574,214 RESEARCH AND DEVELOPMENT $445,961,340
EXTRAMURAL RESEARCH PROGRAMS IN THE NEUROSCIENCES AND University of California Los
NEUROLOGICAL DISORDERS 93.853 NS128964 Angeles NS128964 $78,126 $42,574,214 RESEARCH AND DEVELOPMENT $445,961,340
EXTRAMURAL RESEARCH PROGRAMS IN THE NEUROSCIENCES AND Massachusetts Institute of
NEUROLOGICAL DISORDERS 93.853 NS129032 Technology NS129032 $21,405 $42,574,214 RESEARCH AND DEVELOPMENT $445,961,340
EXTRAMURAL RESEARCH PROGRAMS IN THE NEUROSCIENCES AND Leland Stanford Junior
NEUROLOGICAL DISORDERS 93.853 NS132146 University NS132146 $39,327 $42,574,214 RESEARCH AND DEVELOPMENT $445,961,340
NEUROLOGICAL DISORDERS 93.853 NS132415 Harvard Medical School NS132415 $13,170 $42,574,214 RESEARCH AND DEVELOPMENT $445,961,340
NEUROLOGICAL DISORDERS 93.853 NS92091 University of Miami NS92091 $52,916 $42,574,214 RESEARCH AND DEVELOPMENT $445,961,340
NEUROLOGICAL DISORDERS 93.853 NS93334 Boston University NS93334 $121,078 $42,574,214 RESEARCH AND DEVELOPMENT $445,961,340
NEUROLOGICAL DISORDERS 93.853 NS96761 Carnegie Mellon University NS96761 $99,619 $42,574,214 RESEARCH AND DEVELOPMENT $445,961,340
NEUROLOGICAL DISORDERS 93.853 NS97876 Columbia University NS97876 $116,016 $272,517 $42,574,214 RESEARCH AND DEVELOPMENT $445,961,340
NEUROLOGICAL DISORDERS 93.853 NS99043B University of Cincinnati NS99043B $15,989 $42,574,214 RESEARCH AND DEVELOPMENT $445,961,340
ALLERGY AND INFECTIOUS DISEASES RESEARCH 93.855 AI170478 $130,543 $15,157,172 RESEARCH AND DEVELOPMENT $445,961,340
ALLERGY AND INFECTIOUS DISEASES RESEARCH 93.855 AI121054 $7,199 $269,593 $15,157,172 RESEARCH AND DEVELOPMENT $445,961,340
ALLERGY AND INFECTIOUS DISEASES RESEARCH 93.855 AI122838 $539 $15,157,172 RESEARCH AND DEVELOPMENT $445,961,340
68
MAYO CLINIC
Fiscal Period 1/1/2023 - 12/31/2023
Federal
ALLERGY AND INFECTIOUS DISEASES RESEARCH 93.855 Al176254 $27,278 $15,157,172 RESEARCH AND DEVELOPMENT $445,961,340
ALLERGY AND INFECTIOUS DISEASES RESEARCH 93.855 75N91019D00024 Institute 75N91019D00024 $32,973 $15,157,172 RESEARCH AND DEVELOPMENT $445,961,340
ALLERGY AND INFECTIOUS DISEASES RESEARCH 93.855 AI104681 Duke University AI104681 $422,751 $15,157,172 RESEARCH AND DEVELOPMENT $445,961,340
ALLERGY AND INFECTIOUS DISEASES RESEARCH 93.855 AI109565 Benaroya Research Institute AI109565 $242,649 $15,157,172 RESEARCH AND DEVELOPMENT $445,961,340
ALLERGY AND INFECTIOUS DISEASES RESEARCH 93.855 AI110483 Emory University AI110483 $20,887 $15,157,172 RESEARCH AND DEVELOPMENT $445,961,340
ALLERGY AND INFECTIOUS DISEASES RESEARCH 93.855 AI112844 University of Virginia AI112844 $12,924 $15,157,172 RESEARCH AND DEVELOPMENT $445,961,340
ALLERGY AND INFECTIOUS DISEASES RESEARCH 93.855 AI116501 Washington University AI116501 $9,385 $15,157,172 RESEARCH AND DEVELOPMENT $445,961,340
Cincinnati Children's Hospital
ALLERGY AND INFECTIOUS DISEASES RESEARCH 93.855 AI117804 Medical Center AI117804 $17,492 $15,157,172 RESEARCH AND DEVELOPMENT $445,961,340
ALLERGY AND INFECTIOUS DISEASES RESEARCH 93.855 AI132402 University of Iowa AI132402 $69,377 $15,157,172 RESEARCH AND DEVELOPMENT $445,961,340
ALLERGY AND INFECTIOUS DISEASES RESEARCH 93.855 AI134770 University of Massachusetts AI134770 $119,849 $15,157,172 RESEARCH AND DEVELOPMENT $445,961,340
ALLERGY AND INFECTIOUS DISEASES RESEARCH 93.855 AI138993 Arizona State University AI138993 $117,161 $15,157,172 RESEARCH AND DEVELOPMENT $445,961,340
ALLERGY AND INFECTIOUS DISEASES RESEARCH 93.855 AI141591 University of Michigan AI141591 $361,677 $15,157,172 RESEARCH AND DEVELOPMENT $445,961,340
Joan & Sanford I. Weill Medical
ALLERGY AND INFECTIOUS DISEASES RESEARCH 93.855 AI144301 College AI144301 $765 $15,157,172 RESEARCH AND DEVELOPMENT $445,961,340
ALLERGY AND INFECTIOUS DISEASES RESEARCH 93.855 AI148963 ICAHN School of Medicine AI148963 $18,349 $15,157,172 RESEARCH AND DEVELOPMENT $445,961,340
ALLERGY AND INFECTIOUS DISEASES RESEARCH 93.855 AI154470 Boston Children's Hospital AI154470 $1,327 $15,157,172 RESEARCH AND DEVELOPMENT $445,961,340
Vanderbilt University Medical
ALLERGY AND INFECTIOUS DISEASES RESEARCH 93.855 AI154659 Center AI154659 $21,084 $15,157,172 RESEARCH AND DEVELOPMENT $445,961,340
ALLERGY AND INFECTIOUS DISEASES RESEARCH 93.855 AI155907 Arizona State University AI155907 $36,106 $15,157,172 RESEARCH AND DEVELOPMENT $445,961,340
ALLERGY AND INFECTIOUS DISEASES RESEARCH 93.855 AI162699 University of Minnesota AI162699 $30,117 $15,157,172 RESEARCH AND DEVELOPMENT $445,961,340
ALLERGY AND INFECTIOUS DISEASES RESEARCH 93.855 AI165061 Stinginn, LLC AI165061 $110,047 $15,157,172 RESEARCH AND DEVELOPMENT $445,961,340
ALLERGY AND INFECTIOUS DISEASES RESEARCH 93.855 AI167700 Northeastern University AI167700 $48,723 $15,157,172 RESEARCH AND DEVELOPMENT $445,961,340
ALLERGY AND INFECTIOUS DISEASES RESEARCH 93.855 AI170424 Cedars Sinai Medical Center AI170424 $8,571 $15,157,172 RESEARCH AND DEVELOPMENT $445,961,340
ALLERGY AND INFECTIOUS DISEASES RESEARCH 93.855 AI171826 Institute AI171826 $4,173 $15,157,172 RESEARCH AND DEVELOPMENT $445,961,340
ALLERGY AND INFECTIOUS DISEASES RESEARCH 93.855 AI21747 University of Connecticut AI21747 $103,389 $15,157,172 RESEARCH AND DEVELOPMENT $445,961,340
University of California Los
ALLERGY AND INFECTIOUS DISEASES RESEARCH 93.855 AI68636 Angeles AI68636 $34,361 $15,157,172 RESEARCH AND DEVELOPMENT $445,961,340
BIOMEDICAL RESEARCH AND RESEARCH TRAINING 93.859 GM144233 $143,668 $6,754,982 RESEARCH AND DEVELOPMENT $445,961,340
BIOMEDICAL RESEARCH AND RESEARCH TRAINING 93.859 GM063904 $202,954 $330,149 $6,754,982 RESEARCH AND DEVELOPMENT $445,961,340
69
MAYO CLINIC
Fiscal Period 1/1/2023 - 12/31/2023
Federal
University of Puerto Rico
BIOMEDICAL RESEARCH AND RESEARCH TRAINING 93.859 GM137368 Medical Center GM137368 $36,600 $6,754,982 RESEARCH AND DEVELOPMENT $445,961,340
BIOMEDICAL RESEARCH AND RESEARCH TRAINING 93.859 GM142122 Southcentral Foundation GM142122 $103,189 $6,754,982 RESEARCH AND DEVELOPMENT $445,961,340
BIOMEDICAL RESEARCH AND RESEARCH TRAINING 93.859 GM145385 University of North Florida GM145385 $1,245 $6,754,982 RESEARCH AND DEVELOPMENT $445,961,340
University of North Carolina at
BIOMEDICAL RESEARCH AND RESEARCH TRAINING 93.859 GM148971 Chapel Hill GM148971 $72,531 $6,754,982 RESEARCH AND DEVELOPMENT $445,961,340
CHILD HEALTH AND HUMAN DEVELOPMENT EXTRAMURAL RESEARCH 93.865 AR84222 $293,823 $3,606,161 RESEARCH AND DEVELOPMENT $445,961,340
CHILD HEALTH AND HUMAN DEVELOPMENT EXTRAMURAL RESEARCH 93.865 HD102663 $6,712 $3,606,161 RESEARCH AND DEVELOPMENT $445,961,340
CHILD HEALTH AND HUMAN DEVELOPMENT EXTRAMURAL RESEARCH 93.865 HD103498 $69,344 $139,927 $3,606,161 RESEARCH AND DEVELOPMENT $445,961,340
CHILD HEALTH AND HUMAN DEVELOPMENT EXTRAMURAL RESEARCH 93.865 HD106096 $370,351 $521,038 $3,606,161 RESEARCH AND DEVELOPMENT $445,961,340
CHILD HEALTH AND HUMAN DEVELOPMENT EXTRAMURAL RESEARCH 93.865 HHS-N-275-2018-00005I $752,208 $984,849 $3,606,161 RESEARCH AND DEVELOPMENT $445,961,340
CHILD HEALTH AND HUMAN DEVELOPMENT EXTRAMURAL RESEARCH 93.865 HD100540 Johns Hopkins University HD100540 $6,782 $3,606,161 RESEARCH AND DEVELOPMENT $445,961,340
CHILD HEALTH AND HUMAN DEVELOPMENT EXTRAMURAL RESEARCH 93.865 HD102615 Arizona State University HD102615 $245,067 $3,606,161 RESEARCH AND DEVELOPMENT $445,961,340
CHILD HEALTH AND HUMAN DEVELOPMENT EXTRAMURAL RESEARCH 93.865 HD103099 Hospital HD103099 $37,365 $3,606,161 RESEARCH AND DEVELOPMENT $445,961,340
University of Kansas Medical
CHILD HEALTH AND HUMAN DEVELOPMENT EXTRAMURAL RESEARCH 93.865 HD105714 Center HD105714 $63,450 $3,606,161 RESEARCH AND DEVELOPMENT $445,961,340
CHILD HEALTH AND HUMAN DEVELOPMENT EXTRAMURAL RESEARCH 93.865 HD107897 Sequitur Health Corporation HD107897 $54,101 $3,606,161 RESEARCH AND DEVELOPMENT $445,961,340
CHILD HEALTH AND HUMAN DEVELOPMENT EXTRAMURAL RESEARCH 93.865 HD108477 Binghamton University HD108477 $32,343 $3,606,161 RESEARCH AND DEVELOPMENT $445,961,340
CHILD HEALTH AND HUMAN DEVELOPMENT EXTRAMURAL RESEARCH 93.865 HD44763 University of Minnesota HD44763 $127,160 $3,606,161 RESEARCH AND DEVELOPMENT $445,961,340
University of Texas Medical
CHILD HEALTH AND HUMAN DEVELOPMENT EXTRAMURAL RESEARCH 93.865 HD84423 Branch HD84423 $214,799 $3,606,161 RESEARCH AND DEVELOPMENT $445,961,340
CHILD HEALTH AND HUMAN DEVELOPMENT EXTRAMURAL RESEARCH 93.865 HD86843 University of Pittsburgh HD86843 $36,869 $3,606,161 RESEARCH AND DEVELOPMENT $445,961,340
CHILD HEALTH AND HUMAN DEVELOPMENT EXTRAMURAL RESEARCH 93.865 HD87413 University of Virginia HD87413 $6,277 $3,606,161 RESEARCH AND DEVELOPMENT $445,961,340
AGING RESEARCH 93.866 AG056366 $350,459 $89,639,305 RESEARCH AND DEVELOPMENT $445,961,340
AGING RESEARCH 93.866 AG062110 $1,508,650 $89,639,305 RESEARCH AND DEVELOPMENT $445,961,340
AGING RESEARCH 93.866 AG06786 $40,457 $3,467,867 $89,639,305 RESEARCH AND DEVELOPMENT $445,961,340
AGING RESEARCH 93.866 AG13925 $136,586 $829,612 $89,639,305 RESEARCH AND DEVELOPMENT $445,961,340
AGING RESEARCH 93.866 AG46139 $1,502,787 $2,550,564 $89,639,305 RESEARCH AND DEVELOPMENT $445,961,340
AGING RESEARCH 93.866 AG57181 -$17 $251,225 $89,639,305 RESEARCH AND DEVELOPMENT $445,961,340
70
MAYO CLINIC
Fiscal Period 1/1/2023 - 12/31/2023
Federal
AGING RESEARCH 93.866 AG64159 $4 $89,639,305 RESEARCH AND DEVELOPMENT $445,961,340
71
MAYO CLINIC
Fiscal Period 1/1/2023 - 12/31/2023
Federal
AGING RESEARCH 93.866 AG027161 Madison AG027161 $68,046 $89,639,305 RESEARCH AND DEVELOPMENT $445,961,340
Albert Einstein College of

AGING RESEARCH 93.866 AG03949 Medicine of Yeshiva University AG03949 $110,202 $89,639,305 RESEARCH AND DEVELOPMENT $445,961,340
University of Southern
AGING RESEARCH 93.866 AG057437 California AG057437 $77,629 $89,639,305 RESEARCH AND DEVELOPMENT $445,961,340
AGING RESEARCH 93.866 AG06077 Innovative Design Labs Inc. AG06077 $70,660 $89,639,305 RESEARCH AND DEVELOPMENT $445,961,340
AGING RESEARCH 93.866 AG061359 Duke University AG061359 $19,094 $89,639,305 RESEARCH AND DEVELOPMENT $445,961,340
AGING RESEARCH 93.866 AG062348 Boston University AG062348 $25,000 $110,122 $89,639,305 RESEARCH AND DEVELOPMENT $445,961,340
AGING RESEARCH 93.866 AG078533 University of Texas at Austin AG078533 $33,998 $89,639,305 RESEARCH AND DEVELOPMENT $445,961,340
AGING RESEARCH 93.866 AG23438 Washington University AG23438 $25,368 $89,639,305 RESEARCH AND DEVELOPMENT $445,961,340
AGING RESEARCH 93.866 AG24904 Diego AG24904 $988,056 $89,639,305 RESEARCH AND DEVELOPMENT $445,961,340
AGING RESEARCH 93.866 AG46139 University of Florida AG46139 $18,704 $89,639,305 RESEARCH AND DEVELOPMENT $445,961,340
AGING RESEARCH 93.866 AG54029 Hospital AG54029 $245,377 $89,639,305 RESEARCH AND DEVELOPMENT $445,961,340
University of Mississippi
AGING RESEARCH 93.866 AG54787 Medical Center AG54787 $125,405 $89,639,305 RESEARCH AND DEVELOPMENT $445,961,340
AGING RESEARCH 93.866 AG55469 Arizona State University AG55469 $1,205 $89,639,305 RESEARCH AND DEVELOPMENT $445,961,340
AGING RESEARCH 93.866 AG56130 Sanford-Burnham Medical AG56130 $4,231 $89,639,305 RESEARCH AND DEVELOPMENT $445,961,340
AGING RESEARCH 93.866 AG56270 Columbia University AG56270 $165,242 $89,639,305 RESEARCH AND DEVELOPMENT $445,961,340
AGING RESEARCH 93.866 AG56318 Boston University AG56318 $284,259 $89,639,305 RESEARCH AND DEVELOPMENT $445,961,340
AGING RESEARCH 93.866 AG56933 Johns Hopkins University AG56933 $17,007 $89,639,305 RESEARCH AND DEVELOPMENT $445,961,340
AGING RESEARCH 93.866 AG57195 Indiana University AG57195 $828,589 $89,639,305 RESEARCH AND DEVELOPMENT $445,961,340
AGING RESEARCH 93.866 AG57708 Barrow Neurological Institute AG57708 $110,481 $89,639,305 RESEARCH AND DEVELOPMENT $445,961,340
AGING RESEARCH 93.866 AG58676 University of Melbourne AG58676 $11,723 $89,639,305 RESEARCH AND DEVELOPMENT $445,961,340
AGING RESEARCH 93.866 AG58729 Hennepin Healthcare Research AG58729 $24,660 $89,639,305 RESEARCH AND DEVELOPMENT $445,961,340
AGING RESEARCH 93.866 AG59009 Francisco AG59009 $13,648 $89,639,305 RESEARCH AND DEVELOPMENT $445,961,340
California Pacific Medical
AGING RESEARCH 93.866 AG59417 Center Research Institute AG59417 $5,990 $89,639,305 RESEARCH AND DEVELOPMENT $445,961,340
AGING RESEARCH 93.866 AG60626 Dana-Farber Cancer Institute AG60626 $94,990 $89,639,305 RESEARCH AND DEVELOPMENT $445,961,340
AGING RESEARCH 93.866 AG61100 Partners Health Care Res Mgmt AG61100 $173,017 $89,639,305 RESEARCH AND DEVELOPMENT $445,961,340
AGING RESEARCH 93.866 AG62135 University of Minnesota AG62135 $289,014 $89,639,305 RESEARCH AND DEVELOPMENT $445,961,340
72
MAYO CLINIC
Fiscal Period 1/1/2023 - 12/31/2023
Federal
AGING RESEARCH 93.866 AG62689 University of California Berkeley AG62689 $101,560 $89,639,305 RESEARCH AND DEVELOPMENT $445,961,340
AGING RESEARCH 93.866 AG62823 Arizona State University AG62823 $83,432 $89,639,305 RESEARCH AND DEVELOPMENT $445,961,340
AGING RESEARCH 93.866 AG64165 Brigham and Women’s Hospital AG64165 $63,161 $89,639,305 RESEARCH AND DEVELOPMENT $445,961,340
Seattle Institute of Biomedical

AGING RESEARCH 93.866 AG64271 Clinical Research AG64271 $14,454 $89,639,305 RESEARCH AND DEVELOPMENT $445,961,340
AGING RESEARCH 93.866 AG65088 Corporation AG65088 $166,710 $89,639,305 RESEARCH AND DEVELOPMENT $445,961,340
American Federation For Aging
AGING RESEARCH 93.866 AG65204 Research AG65204 $6,866 $89,639,305 RESEARCH AND DEVELOPMENT $445,961,340
AGING RESEARCH 93.866 AG65311 Beth Israel Deaconess Medical AG65311 $18,814 $89,639,305 RESEARCH AND DEVELOPMENT $445,961,340
AGING RESEARCH 93.866 AG66134 Columbia University AG66134 $13,895 $89,639,305 RESEARCH AND DEVELOPMENT $445,961,340
Beth Israel Deaconess Medical
AGING RESEARCH 93.866 AG66768 Center AG66768 $6,406 $89,639,305 RESEARCH AND DEVELOPMENT $445,961,340
AGING RESEARCH 93.866 AG67151 Technology AG67151 $199,622 $89,639,305 RESEARCH AND DEVELOPMENT $445,961,340
AGING RESEARCH 93.866 AG67418 UCB Pharma, Inc. AG67418 $451,674 $89,639,305 RESEARCH AND DEVELOPMENT $445,961,340
AGING RESEARCH 93.866 AG67631 Indiana University AG67631 $76,026 $89,639,305 RESEARCH AND DEVELOPMENT $445,961,340
AGING RESEARCH 93.866 AG68034 North Dakota State University AG68034 $132,336 $89,639,305 RESEARCH AND DEVELOPMENT $445,961,340
AGING RESEARCH 93.866 AG68054 University of Pittsburgh AG68054 $167,601 $89,639,305 RESEARCH AND DEVELOPMENT $445,961,340
AGING RESEARCH 93.866 AG68141 Beth Israel Deaconess Medical AG68141 $35,270 $89,639,305 RESEARCH AND DEVELOPMENT $445,961,340
AGING RESEARCH 93.866 AG68581 St. Jude Children's Hospital AG68581 $641,121 $89,639,305 RESEARCH AND DEVELOPMENT $445,961,340
AGING RESEARCH 93.866 AG69264 University of Virginia AG69264 $4,164 $89,639,305 RESEARCH AND DEVELOPMENT $445,961,340
AGING RESEARCH 93.866 AG69453 Banner Alzheimer's Institute AG69453 $222,514 $89,639,305 RESEARCH AND DEVELOPMENT $445,961,340
AGING RESEARCH 93.866 AG69690 University of Texas AG69690 $126,337 $89,639,305 RESEARCH AND DEVELOPMENT $445,961,340
AGING RESEARCH 93.866 AG69822 Yale University AG69822 $8,595 $89,639,305 RESEARCH AND DEVELOPMENT $445,961,340
AGING RESEARCH 93.866 AG71754 Washington University AG71754 $1,516,621 $89,639,305 RESEARCH AND DEVELOPMENT $445,961,340
Wake Forest University Health
AGING RESEARCH 93.866 AG71807 Scienc AG71807 $10,219 $89,639,305 RESEARCH AND DEVELOPMENT $445,961,340
AGING RESEARCH 93.866 AG72799 University of Texas Houston AG72799 $47,933 $89,639,305 RESEARCH AND DEVELOPMENT $445,961,340
AGING RESEARCH 93.866 AG72980 Banner Alzheimer's Institute AG72980 $164,195 $89,639,305 RESEARCH AND DEVELOPMENT $445,961,340
AGING RESEARCH 93.866 AG73119 University of Connecticut AG73119 $60,988 $89,639,305 RESEARCH AND DEVELOPMENT $445,961,340
AGING RESEARCH 93.866 AG73341 Harvard University AG73341 $9,235 $89,639,305 RESEARCH AND DEVELOPMENT $445,961,340
AGING RESEARCH 93.866 AG73434 Georgia Institute of Technology AG73434 $51,520 $89,639,305 RESEARCH AND DEVELOPMENT $445,961,340
University California San
AGING RESEARCH 93.866 AG73482 Francisco AG73482 $5,949 $89,639,305 RESEARCH AND DEVELOPMENT $445,961,340
AGING RESEARCH 93.866 AG73886 Hebrew Rehabilitation Center AG73886 $9,629 $89,639,305 RESEARCH AND DEVELOPMENT $445,961,340
AGING RESEARCH 93.866 AG74127 Corporation AG74127 $38,808 $89,639,305 RESEARCH AND DEVELOPMENT $445,961,340
AGING RESEARCH 93.866 AG77677 University of Miami AG77677 $22,078 $89,639,305 RESEARCH AND DEVELOPMENT $445,961,340
Regents of the University of

AGING RESEARCH 93.866 AG80469 California at San Francisco AG80469 $5,695 $89,639,305 RESEARCH AND DEVELOPMENT $445,961,340
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Fiscal Period 1/1/2023 - 12/31/2023
Federal
Columbia University Medical
AGING RESEARCH 93.866 AG81582 Center AG81582 $2,115 $89,639,305 RESEARCH AND DEVELOPMENT $445,961,340
AGING RESEARCH 93.866 AG84154 University of Missouri AG84154 $13,586 $89,639,305 RESEARCH AND DEVELOPMENT $445,961,340
AGING RESEARCH 93.866 AG85900 University of Minnesota AG85900 $25,443 $89,639,305 RESEARCH AND DEVELOPMENT $445,961,340
VISION RESEARCH 93.867 EY21727 $120,174 $1,418,175 RESEARCH AND DEVELOPMENT $445,961,340
VISION RESEARCH 93.867 EY11751 Research EY11751 $7,844 $1,418,175 RESEARCH AND DEVELOPMENT $445,961,340
VISION RESEARCH 93.867 EY22124 Ohio State University EY22124 $130,314 $1,418,175 RESEARCH AND DEVELOPMENT $445,961,340
VISION RESEARCH 93.867 EY23384 University of Minnesota EY23384 $160,117 $1,418,175 RESEARCH AND DEVELOPMENT $445,961,340
VISION RESEARCH 93.867 EY26869 New York School of Medicine EY26869 $19,512 $1,418,175 RESEARCH AND DEVELOPMENT $445,961,340
VISION RESEARCH 93.867 EY33293 Johns Hopkins University EY33293 $4,487 $1,418,175 RESEARCH AND DEVELOPMENT $445,961,340
VISION RESEARCH 93.867 EY35084 California EY35084 $314 $1,418,175 RESEARCH AND DEVELOPMENT $445,961,340
MEDICAL LIBRARY ASSISTANCE 93.879 LM11934 $185,913 $276,324 $482,361 RESEARCH AND DEVELOPMENT $445,961,340
University of Texas Health at
MEDICAL LIBRARY ASSISTANCE 93.879 LM11934 Houston LM11934 $19,087 $482,361 RESEARCH AND DEVELOPMENT $445,961,340
MEDICAL LIBRARY ASSISTANCE 93.879 LM13438 Arizona State University LM13438 $143,943 $482,361 RESEARCH AND DEVELOPMENT $445,961,340
MEDICAL LIBRARY ASSISTANCE 93.879 LM13606 University of North Carolina LM13606 $43,007 $482,361 RESEARCH AND DEVELOPMENT $445,961,340
NATIONAL BIOTERRORISM HOSPITAL PREPAREDNESS PROGRAM 93.889 MDH10327 Health MDH10327 $102,051 $102,051 N/A $0
MN Department of Human
HIV CARE FORMULA GRANTS 93.917 GRK%212096 Services GRK%212096 $181,596 $181,596 RESEARCH AND DEVELOPMENT $445,961,340
TUBERCULOSIS DEMONSTRATION, RESEARCH, PUBLIC AND
PROFESSIONAL EDUCATION 93.947 PS910245 $673,001 $673,001 RESEARCH AND DEVELOPMENT $445,961,340
INTERNATIONAL RESEARCH AND RESEARCH TRAINING 93.989 TW12265 Stellenbosch University TW12265 $4,316 $4,316 RESEARCH AND DEVELOPMENT $445,961,340
CONTRACT 93.RD 75N91020F00030 $109,419 $2,762,758 RESEARCH AND DEVELOPMENT $445,961,340
CONTRACT 93.RD 75N91021P00840 $141,726 $2,762,758 RESEARCH AND DEVELOPMENT $445,961,340
CONTRACT 93.RD 75N94023F00001 $175,833 $2,762,758 RESEARCH AND DEVELOPMENT $445,961,340
CONTRACT 93.RD 75Q80120D00005 $523,090 $2,762,758 RESEARCH AND DEVELOPMENT $445,961,340
CONTRACT 93.RD HHS-N-261-2012-00042I $15,199 $55,094 $2,762,758 RESEARCH AND DEVELOPMENT $445,961,340
CONTRACT 93.RD HHS-N-261-2016-00024I $19,579 $2,762,758 RESEARCH AND DEVELOPMENT $445,961,340
CONTRACT 93.RD HHS-O-100-2016-00009C $20,072 $2,762,758 RESEARCH AND DEVELOPMENT $445,961,340
CONTRACT 93.RD 16X237 Leidos Biomedical Research 16X237 $457,046 $2,762,758 RESEARCH AND DEVELOPMENT $445,961,340
CONTRACT 93.RD 75D30122C13330 Children's Hospital of Boston 75D30122C13330 $12,612 $2,762,758 RESEARCH AND DEVELOPMENT $445,961,340
CONTRACT 93.RD 75N91019C00016 Pact & Health LLC 75N91019C00016 $57,001 $2,762,758 RESEARCH AND DEVELOPMENT $445,961,340
CONTRACT 93.RD 75N91019D00024 Institute 75N91019D00024 $340,745 $2,762,758 RESEARCH AND DEVELOPMENT $445,961,340
CONTRACT 93.RD 75N92019D00031 Boston University 75N92019D00031 $63,635 $2,762,758 RESEARCH AND DEVELOPMENT $445,961,340
CONTRACT 93.RD 80JSC022F0146 University of Colorado 80JSC022F0146 $47,066 $2,762,758 RESEARCH AND DEVELOPMENT $445,961,340
University of Mississippi
CONTRACT 93.RD HHNS-2-68-2018-00010I Medical Center HHNS-2-68-2018-00010I $241,647 $2,762,758 RESEARCH AND DEVELOPMENT $445,961,340
CONTRACT 93.RD HHS-N-261-2012-00035I Northwestern University HHS-N-261-2012-00035I $13,859 $2,762,758 RESEARCH AND DEVELOPMENT $445,961,340
CONTRACT 93.RD HHS-N-261-2012-00042I National Cancer Institute HHS-N-261-2012-00042I $4,758 $2,762,758 RESEARCH AND DEVELOPMENT $445,961,340
CONTRACT 93.RD HHS-N-275-2018-00003I Duke University HHS-N-275-2018-00003I $16,936 $2,762,758 RESEARCH AND DEVELOPMENT $445,961,340
CONTRACT 93.RD HHS-P-233-2015-00128I Carradora Health HHS-P-233-2015-00128I $30,545 $2,762,758 RESEARCH AND DEVELOPMENT $445,961,340
CONTRACT 93.RD PC35143 University of Iowa PC35143 $165,120 $2,762,758 RESEARCH AND DEVELOPMENT $445,961,340
CONTRACT 93.RD W911QY-20-9-0012 Johns Hopkins University W911QY-20-9-0012 $266,975 $2,762,758 RESEARCH AND DEVELOPMENT $445,961,340
MILITARY HEALTH PROFESSIONS SCHOLARSHIPS 93.U01 Office Of The Surgeon General $219,135 $219,135 N/A $0
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Fiscal Period 1/1/2023 - 12/31/2023
Federal
TOTAL DEPARTMENT OF HEALTH AND HUMAN SERVICES
$51,257,275 $409,783,328
TOTAL EXPENDITURES OF FEDERAL AWARDS $54,435,304 $465,627,082
See accompanying notes to schedules of expenditures of federal awards and Florida state financial assistance.
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Schedule of Expenditures of Florida State Financial Assistance

CSFA Contract / Grant / Pass-Through
Sponsor/CSFA Description/Project Description Number Subaward Number Expenditures to Subrecipients
STATE OF FLORIDA
Department of Elder Affairs
Direct Awards
Alzheimer Interventions, Memory Disorder Clinics, Brain Banks and
Alzheimer Special Projects 65.002 XZ108 $ 130,521 $ –
Alzheimer Interventions, Memory Disorder Clinics, Brain Banks and
Alzheimer Special Projects 65.002 XZH23 212,954 –
Subtotal Direct Awards 343,475 –
Total Department of Elder Affairs 343,475 –
Department of Health
Direct Awards
James and Esther King Biomedical Research Program 64.041 20K02 22,129 –
Bankhead-Coley Cancer Research Program 64.078 22B08 164,202 –
Bankhead-Coley Cancer Research Program 64.078 MOG13 224 –
Endowed Chair for Cancer Research 64.130 MOG07 940,679 –
Ed and Ethel Moore Alzheimer's Disease Research Program 64.135 8AZ06 (23) –
Ed and Ethel Moore Alzheimer's Disease Research Program 64.135 20A10 386 –
Ed and Ethel Moore Alzheimer's Disease Research Program 64.135 22A04 49,173 –
Ed and Ethel Moore Alzheimer's Disease Research Program 64.135 22K01 174,864 2,675
Ed and Ethel Moore Alzheimer's Disease Research Program 64.135 23K09 101,569 –
Subtotal Direct Awards 1,944,192 2,675
Total Department of Health 1,944,192 2,675
Total Expenditures of State Financial Assistance $ 2,287,667 $ 2,675

See accompanying notes to schedules of expenditures of federal awards and Florida state financial assistance
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Mayo Clinic
Notes to Schedules of Expenditures of Federal Awards and

Florida State Financial Assistance
December 31, 2023
1. Significant Accounting Policies
The accompanying Schedules of Expenditures of Federal Awards and Florida State Financial
Assistance (the Schedules) include the federal and Florida state grant activity of Mayo Clinic (the
Clinic) under programs of the federal and Florida state government for the year ended
December 31, 2023. The information in the Schedules is presented in accordance with the
requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative
Requirements, Cost Principles, and Audit Requirements for Federal Awards (the Uniform
Guidance), and Chapter 10.650, Rules of the Auditor General of the State of Florida. Because the
Schedules only present a selected portion of the operations of the Clinic, they are not intended to,
and do not, present the consolidated financial position, results of operations, or cash flows of the
Clinic.
Expenditures reported in the Schedules are reported on the cash basis of accounting, except for the
Student Financial Assistance Cluster, which are reported on the accrual basis of accounting. Under
the cash basis, expenditures are recognized when paid rather than when the obligation is incurred.
Such expenditures are reported following the cost principles contained in the Uniform Guidance,
wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Negative amounts reported on the Schedules represent adjustments or credits made in the normal
course of business to amounts reported as expenditures in prior years.
2. 10% De Minimis Cost Rate
Indirect cost rates for Mayo are based on applicable U.S. Department of Health and Human
Services negotiated rates, the 10% de minimis indirect cost rate allowed by the Uniform Guidance,
or sponsor-specific (capped) rates.
3. Section 202 Direct Loans and Federal Direct Loans
The Supportive Housing for the Elderly, Section 202 Direct Loans program (Assistance Listing
No. 14.157), is considered a federal award until the outstanding balance is paid in full. At
December 31, 2023, Bloomer Lakeview, Inc.’s outstanding balance is $141,205.
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Notes to Schedules of Expenditures of Federal Awards and

Florida State Financial Assistance (continued)
3. Section 202 Direct Loans and Federal Direct Loans (continued)
During the year, the Clinic expended $18,063,580 in Federal Direct Student Loans (Assistance
Listing No. 84.268), which includes Direct Stafford Loans and Parent Loans for Undergraduate
Students from the federal government. The federal government is responsible for billings and
collections of the loans. The Clinic assists the federal government by processing the applications
and applying funds to student accounts from the federal government. Since this program is
administered by the federal government, new loans made in the fiscal year ended December 31,
2023, related to Federal Direct Student Loans, are considered current year federal expenditures,
whereas the outstanding loan balances are not.
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Report of Independent Auditors on Internal Control Over Financial Reporting and

on Compliance and Other Matters Based on an Audit of Financial Statements
Performed in Accordance with Government Auditing Standards
Board of Trustees, Chief Executive Officer and

President, and Chief Financial Officer
Mayo Clinic
We have audited, in accordance with auditing standards generally accepted in the United States of
America and the standards applicable to financial audits contained in Government Auditing
Standards issued by the Comptroller General of the United States (Government Auditing
Standards), the financial statements of Mayo Clinic (“the Clinic”), which comprise the
consolidated statements of financial position as of December 31, 2023, and the related
consolidated statements of activities and cash flows for the year then ended, and the related notes
(collectively referred to as the “financial statements”), and have issued our report thereon dated
February 16, 2024.
Report on Internal Control Over Financial Reporting
In planning and performing our audit of the financial statements, we considered the Clinic’s
internal control over financial reporting (internal control) as a basis for designing audit procedures
that are appropriate in the circumstances for the purpose of expressing our opinion on the financial
statements, but not for the purpose of expressing an opinion on the effectiveness of the Clinic’s
internal control. Accordingly, we do not express an opinion on the effectiveness of the Clinic’s
internal control.
A deficiency in internal control exists when the design or operation of a control does not allow
management or employees, in the normal course of performing their assigned functions, to prevent,
or detect and correct misstatements, on a timely basis. A material weakness is a deficiency, or a
combination of deficiencies, in internal control, such that there is a reasonable possibility that a
material misstatement of the entity’s financial statements will not be prevented, or detected and
corrected on a timely basis. A significant deficiency is a deficiency, or a combination of
deficiencies, in internal control that is less severe than a material weakness, yet important enough
to merit attention by those charged with governance.
Our consideration of internal control was for the limited purpose described in the first paragraph
of this section and was not designed to identify all deficiencies in internal control that might be
material weaknesses or significant deficiencies. Given these limitations, during our audit we did
not identify any deficiencies in internal control that we consider to be material weaknesses.
However, material weaknesses or significant deficiencies may exist that were not identified.
79
Report on Compliance and Other Matters
As part of obtaining reasonable assurance about whether the Clinic’s financial statements are free
of material misstatement, we performed tests of its compliance with certain provisions of laws,
regulations, contracts and grant agreements, noncompliance with which could have a direct and
material effect on the financial statements. However, providing an opinion on compliance with
those provisions was not an objective of our audit, and accordingly, we do not express such an
opinion. The results of our tests disclosed no instances of noncompliance or other matters that are
required to be reported under Government Auditing Standards.
Purpose of This Report
The purpose of this report is solely to describe the scope of our testing of internal control and
compliance and the results of that testing, and not to provide an opinion on the effectiveness of the
entity’s internal control or on compliance. This report is an integral part of an audit performed in
accordance with Government Auditing Standards in considering the entity’s internal control and
compliance. Accordingly, this communication is not suitable for any other purpose.
February 16, 2024
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Report of Independent Auditors on Compliance for Each Major Federal Program

and State Financial Assistance Project and Report on Internal Control Over
Compliance Required by the Uniform Guidance and Chapter 10.650,
Rules of the Auditor General of the State of Florida
Board of Trustees, Chief Executive Officer and

President, and Chief Financial Officer
Mayo Clinic
Report of Independent Auditors on Compliance for Each Major Federal Program and
State Financial Assistance Project
Opinion on Each Major Federal Program and State Financial Assistance Project
We have audited Mayo Clinic’s (“the Clinic”) compliance with the types of compliance
requirements identified as subject to audit in the U.S. Office of Management and Budget (OMB)
Compliance Supplement and the Florida Department of Financial Services’ State Projects
Compliance Supplement that could have a direct and material effect on each of the Clinic’s major
federal programs and state financial assistance projects, respectively, for the year ended
December 31, 2023. The Clinic’s major federal programs and state financial assistance projects
are identified in the summary of auditor’s results section of the accompanying schedule of findings
and questioned costs.
In our opinion, the Clinic complied, in all material respects, with the compliance requirements
referred to above that could have a direct and material effect on each of its major federal programs
and major state financial assistance projects for the year ended December 31, 2023.
Basis for Opinion on Each Major Federal Program and State Financial Assistance Project
We conducted our audit of compliance in accordance with auditing standards generally accepted
in the United States of America (GAAS); the standards applicable to financial audits contained in
Government Auditing Standards, issued by the Comptroller General of the United States
(Government Auditing Standards); the audit requirements of Title 2 U.S. Code of Federal
Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit
Requirements for Federal Awards (Uniform Guidance); and Chapter 10.650, Rules of the Auditor
General of the State of Florida. Our responsibilities under those standards, the Uniform Guidance
and Chapter 10.650, Rules of the Auditor General of the State of Florida are further described in
the Auditor’s Responsibilities for the Audit of Compliance section of our report.
81
We are required to be independent of the Clinic and to meet our other ethical responsibilities in
accordance with the relevant ethical requirements relating to our audit. We believe that the audit
evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on
compliance for each major federal program and state financial assistance project. Our audit does
not provide a legal determination of the Clinic’s compliance with the compliance requirements
referred to above.
Responsibilities of Management for Compliance
Management is responsible for compliance with the requirements referred to above and for the
design, implementation, and maintenance of effective internal control over compliance with the
requirements of laws, statutes, regulations, rules, and provisions of contracts or grant agreements
applicable to the Clinic’s federal programs and state projects.
Auditor’s Responsibilities for the Audit of Compliance
Our objectives are to obtain reasonable assurance about whether material noncompliance with the
compliance requirements referred to above occurred, whether due to fraud or error, and express an
opinion on the Clinic’s compliance based on our audit. Reasonable assurance is a high level of
assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in
accordance with GAAS, Government Auditing Standards, the Uniform Guidance, and Chapter
10.650, Rules of the Auditor General of the State of Florida will always detect material
noncompliance when it exists. The risk of not detecting material noncompliance resulting from
fraud is higher than for that resulting from error, as fraud may involve collusion, forgery,
intentional omissions, misrepresentations, or the override of internal control. Noncompliance with
the compliance requirements referred to above is considered material, if there is a substantial
likelihood that, individually or in the aggregate, it would influence the judgment made by a
reasonable user of the report on compliance about the Clinic’s compliance with the requirements
of each major federal program and state financial assistance project as a whole.
In performing an audit in accordance with GAAS, Government Auditing Standards, the Uniform
Guidance, and Chapter 10.650, Rules of the Auditor General of the State of Florida, we:
 Exercise professional judgment and maintain professional skepticism throughout the audit.
 Identify and assess the risks of material noncompliance, whether due to fraud or error, and
design and perform audit procedures responsive to those risks. Such procedures include
examining, on a test basis, evidence regarding the Clinic’s compliance with the compliance
requirements referred to above and performing such other procedures as we considered
necessary in the circumstances.
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 Obtain an understanding of the Clinic’s internal control over compliance relevant to the
audit in order to design audit procedures that are appropriate in the circumstances and to
test and report on internal control over compliance in accordance with the Uniform
Guidance and Chapter 10.650, Rules of the Auditor General of the State of Florida, but not
for the purpose of expressing an opinion on the effectiveness of the Clinic’s internal control
over compliance. Accordingly, no such opinion is expressed.
We are required to communicate with those charged with governance regarding, among other
matters, the planned scope and timing of the audit and any significant deficiencies and material
weaknesses in internal control over compliance that we identified during the audit.
Other Matters
The results of our auditing procedures disclosed instances of noncompliance, which are required
to be reported in accordance with the Uniform Guidance and Chapter 10.650, Rules of the Auditor
General of the State of Florida and which are described in the accompanying schedule of findings
and questioned costs, as follows:
Assistance Listing or Program (or Cluster) Compliance

Finding No. CSFA No. Name Requirement
2023-003 Multiple Research and Development M. Subrecipient Monitoring

Cluster
2023-005 Multiple Research and Development I. Procurement, Suspension

Cluster and Debarment
Our opinion on each major federal program and state financial assistance project is not modified
with respect to these matters.
We performed audit procedures with respect to the Student Financial Assistance Cluster major
federal program related to compliance requirements in Special Tests and Provisions N12, Gramm-
Leach Bliley Act – Student Information Security as outlined in the OMB Compliance Supplement
for the year ended December 31, 2023. We determined whether the Clinic has designated a
“Qualified Individual,” as described in the OMB Compliance Supplement, to be responsible for
implementing and monitoring the information security program in accordance with 16 CFR
314.4(a). We determined whether the Clinic has a written information security program and that
the written information security program documents the seven minimum elements required by 16
CFR 314.4(a)-(g). Our audit procedures did not evaluate whether the designated Qualified
Individual is competent to oversee the implementation and monitoring of the information security
program nor whether the Qualified Individual possessed the adequate authority to carry out those
duties. Our audit procedures also did not determine whether the written information security program
sufficiently and completely addressed the seven minimum elements required by 16 CFR 314.4(a)-
(g). Our opinion on the Student Financial Assistance Cluster major federal program is not modified
with respect to this matter.
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Government Auditing Standards requires the auditor to perform limited procedures on the Clinic’s
response to the noncompliance findings identified in our audit described in the accompanying
schedule of findings and questioned costs. The Clinic’s response was not subjected to the other
auditing procedures applied in the audit of compliance and, accordingly, we express no opinion on
the response.
Report on Internal Control Over Compliance
Our consideration of internal control over compliance was for the limited purpose described in the
Auditor’s Responsibilities for the Audit of Compliance section above and was not designed to
identify all deficiencies in internal control over compliance that might be material weaknesses or
significant deficiencies in internal control over compliance, and therefore, material weaknesses or
significant deficiencies may exist that were not identified. However, as discussed below, we did
identify certain deficiencies in internal control over compliance that we consider to be material
weaknesses and significant deficiencies.
A deficiency in internal control over compliance exists when the design or operation of a control
over compliance does not allow management or employees, in the normal course of performing
their assigned functions, to prevent, or detect and correct, noncompliance with a type of
compliance requirement of a federal program or state financial assistance project on a timely basis.
A material weakness in internal control over compliance is a deficiency, or a combination of
deficiencies, in internal control over compliance, such that there is a reasonable possibility that
material noncompliance with a type of compliance requirement of a federal program or state
financial assistance project will not be prevented, or detected and corrected, on a timely basis. We
consider the deficiencies in internal control over compliance described in the accompanying
schedule of findings and questioned costs to be material weaknesses as follows:

2023-002 Multiple Research and Development A. Activities Allowed or Unallowed;

Cluster and B. Allowable Costs/Cost
Principles
2023-003 Multiple Research and Development M. Subrecipient Monitoring

Cluster
2023-004 Multiple Research and Development A. Activities Allowed or Unallowed;

Cluster and B. Allowable Costs/Cost
Principles
2023-004 64.130 Endowed Chair for Cancer A. Activities Allowed or Unallowed;

Research Program and B. Allowable Costs
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2023-004 64.135 Ed and Ethel Moore A. Activities Allowed or Unallowed;
Alzheimer’s Disease and B. Allowable Costs
Research Program
A significant deficiency in internal control over compliance is a deficiency, or a combination of

deficiencies, in internal control over compliance with a type of compliance requirement of a federal
program or state financial assistance project that is less severe than a material weakness in internal
control over compliance, yet important enough to merit attention by those charged with
governance. We consider the deficiencies in internal control over compliance described in the
accompanying schedule of findings and questioned costs to be significant deficiencies as follows:
Assistance Program (or Cluster) Compliance

Finding No. Listing No. Name Requirement
2023-001 84.268 Student Financial N. Special Tests and Provisions:

Assistance Cluster N12. Disbursements to or on
Behalf of Students
2023-005 Multiple Research and Development I. Procurement, Suspension and

Cluster Debarment
Our audit was not designed for the purpose of expressing an opinion on the effectiveness of internal
control over compliance. Accordingly, no such opinion is expressed.
Government Auditing Standards require the auditor to perform limited procedures on the Clinic’s
response to the internal control over compliance findings identified in our audit described in the
accompanying schedule of findings and questioned costs. The Clinic’s response was not subjected
to the other auditing procedures applied in the audit of compliance and, accordingly, we express
no opinion on the response.
The purpose of this report on internal control over compliance is solely to describe the scope of
our testing of internal control over compliance and the results of that testing based on the
requirements of the Uniform Guidance and Chapter 10.650, Rules of the Auditor General of the
State of Florida. Accordingly, this report is not suitable for any other purpose.
June 25, 2024
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Schedule of Findings and Questioned Costs
For the Year Ended December 31, 2023
Section I – Summary of Auditor’s Results
Financial Statements
Type of report the auditor issued on whether

the financial statements audited were
prepared in accordance with GAAP: Unmodified
Internal control over financial reporting:
Material weakness(es) identified? Yes X No
Significant deficiency(ies) identified? Yes X None Reported
Noncompliance material to financial

statements noted? Yes X No
Federal Awards
Internal control over major federal programs:
Material weakness(es) identified? X Yes No
Significant deficiency(ies) identified? X Yes None Reported
Type of auditor’s report issued on compliance

for major federal programs:
Unmodified
Any audit findings disclosed that are required
to be reported in accordance with 2 CFR
200.516(a)? X Yes No
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Schedule of Findings and Questioned Costs (continued)
Section I – Summary of Auditor’s Results (continued)
Identification of major federal programs:
Assistance Listing Numbers Name of Federal Program or Cluster
Multiple Research and Development Cluster

84.063 and 84.268 Student Financial Assistance Cluster
Dollar threshold used to distinguish between

Type A and Type B programs: $ 3,000,000
Auditee qualified as low-risk auditee? Yes X No
Florida State Financial Assistance Projects
Internal control over major state financial

assistance projects:
Material weakness(es) identified? X Yes No
Significant deficiency(ies) identified? Yes X None Reported
Type of auditor’s report issued on compliance

for major state financial assistance projects:
Unmodified
Any audit findings disclosed that are required
to be reported in accordance with Chapter
10.650, Rules of the Auditor General of the
State of Florida? X Yes No
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Section I – Summary of Auditor’s Results (continued)
Identification of major state projects:
State CSFA Numbers Name of State Project
64.130 Endowed Chair for Cancer Research

64.135 Ed and Ethel Moore Alzheimer’s Disease
Research Program
Dollar threshold used to distinguish between
Type A and Type B programs: $686,300
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Section II – Financial Statement Findings
None identified.
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Section III – Federal Award and State Project Findings and Questioned Costs
Finding 2023-001 – N2 Disbursements to or on Behalf of Students

Identification of the federal program:
Federal Agency: United States Department of Education
Federal Cluster: Student Financial Assistance
Assistance Listing No.: 84.268, Federal Direct Student Loans (Direct Loans)
Award Periods: July 1, 2022 through June 30, 2023; July 1, 2023 through June 30, 2024
Criteria or specific requirement (including statutory, regulatory or other citation):
Section 200.303 of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative
Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance)
states the following regarding internal control:
“The non-Federal entity must:
(a) Establish and maintain effective internal control over the Federal award that provides
reasonable assurance that the non-Federal entity is managing the Federal award in compliance with
Federal statutes, regulations, and the terms and conditions of the Federal award. These internal
controls should be in compliance with guidance in “Standards for Internal Control in the Federal
Government” issued by the Comptroller General of the United States or the “Internal Control
Integrated Framework,” issued by the Committee of Sponsoring Organizations of the Treadway
Commission (COSO).”
Condition:
When Direct Loans are being credited to a student’s account, an institution must notify the student,
or parent, in writing of (1) the date and amount of the disbursement; (2) the student’s right, or
parent’s right, to cancel all or a portion of that loan or loan disbursement and have the loan
proceeds returned to the holder of that loan; and (3) the procedure and time by which the student
or parent must notify the institution that he or she wishes to cancel the loan. In order to identify
these students, Mayo Clinic (“the Clinic”) utilizes a disbursement report that is run from a script
housed in SAP Business Objects. Information technology general controls (ITGCs) over the SAP
Business Objects disbursement report was not tested by the Clinic during 2023 to ensure the
accuracy and completeness of the disbursement report.
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Section III – Federal Award and State Project Findings and Questioned Costs (continued)
Cause:
Information technology general controls were not tested for SAP Business Objects in 2023.
Effect or potential effect:
The disbursement report may be inaccurate or incomplete and as a result a student may not be
timely notified of the date and amount of the disbursement; the student/parent’s right to cancel;
and the procedure and time by which the student or parent must notify the institution that he or she
wishes to cancel.
Questioned costs:
None.
Context:
Total expenditures for the Student Financial Assistance Cluster were $18,084,644 for the year
ended December 31, 2023.
Identification as a repeat finding, if applicable:

This finding is not a repeat finding from the prior year.
Recommendation:
The Clinic should implement internal controls to ensure SAP Business Objects ITGCs are tested
or implement compensating controls to ensure the disbursement report is accurate and complete.
Views of responsible officials:

The Clinic has internal controls over access and change management procedures in place over
Business Objects. Management will ensure these controls are tested annually.
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Finding 2023-002 – Activities Allowed or Unallowed and Allowable Costs/Cost Principles

Federal Agencies: U.S. Department of Health and Human Services and U.S. Department of
Defense
Pass-Through Entities: Georgia Institute of Technology, Massachusetts General Hospital, NYU
Grossman School of Medicine, University of Chicago, University of Michigan, and Washington
University
Federal Cluster: Research and Development (R&D)
Assistance Listing Nos.: 12.300, 12.420, 93.233, 93.273, 93.279, 93.310, 93.350, 93.393, 93.395,
93.396, 93.397, 93.837, 93.838, 93.846, 93.847, 93.853, 93.855, 93.865, and 93.866
Award Numbers: Various
Award Periods: Various
Condition:
Evidence of review of allowability of internal service charges at a transactional level by the
Principal Investigator (PI) or appropriate individual with authority on the grant was not retained
during the fiscal year.
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Cause:
While internal service charges transaction detail is reviewed for allowability with federal
regulations and the terms and conditions of the grant award on a monthly/quarterly basis by the PI
as part of the grant’s financial statement review, evidence of the monthly/quarterly review by the
PI and conclusions reached over allowability was not retained by the Clinic during fiscal year
2023.

Internal service costs could be charged that are not allowable.
Questioned costs:
None.
Context:
Internal service charges are $49,405,925, representing 11.1% of total Federal expenditures for the
R&D Cluster of $445,961,340 for the year ended December 31, 2023.

The finding is a repeat of Finding 2022-007 in the prior year.
Recommendation:
Beginning in fiscal year 2024, the PI monthly/quarterly review packet was redesigned to provide
evidence of review and conclusions reached over internal service charges transaction detail.
Management should ensure that the newly implemented control is operating as designed.

Management implemented revisions to the monthly/quarterly review packet in January 2024 to
provide evidence of review and conclusions reached over the allowability of internal service
charges. Communication has occurred to ensure awareness and understanding of control process
expectations.
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Finding 2023-003 – Subrecipient Monitoring

Defense
Assistance Listing Nos.: 12.RDC, 12.300, 93.393, 93.396, 93.847, 93.853, 93.859
Government,” issued by the Comptroller General of the United States or the “Internal Control
Section 200.332(d) of the Uniform Guidance states:

“Monitor the activities of the subrecipient as necessary to ensure that the subaward is used for
authorized purposes, in compliance with Federal statutes, regulations, and the terms and conditions
of the subaward; and that the subaward performance goals are achieved. Pass-through entity
monitoring of the subrecipient must include:
(1) Reviewing financial and performance reports required by the pass-through entity.”
Furthermore, it is the Clinic’s policy for principal investigators to complete a subaward monitoring
checklist as part of the monthly/quarterly reviews of subrecipient performance.
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Condition:
Subaward monitoring checklists were not consistently completed or retained to evidence the
results of the monitoring performed over subrecipients by principal investigators during the fiscal
year.
Cause:
Established internal controls over the completion of the subaward monitoring checklist as part of
the monthly/quarterly reviews were not followed during the fiscal year.

Subrecipients may not be monitored timely. Subaward may not be used for authorized purposes,
or performance goals may not be achieved by the subrecipient.
Questioned costs:
None.
Context:
We sampled 40 subaward monitoring checklists required to be completed during fiscal year 2023
by various principal investigators and noted the following related to the subaward monitoring
checklist:
 Not included with the monthly/quarterly review materials (2 instances),

 Not completed due to retirement of the principal investigator (1 instance),
 Not completed timely during fiscal year 2023 (10 instances)
o Subaward monitoring checklists are included in regular financial reviews which were
delayed due to implementation of a new general ledger system effective April 1, 2023.
Various Q3 and Q4 2023 subaward monitoring checklists were not completed until Q1
2024.
Subrecipient expenditures are $54,435,304, representing 12.2% of total Federal expenditures for
the R&D Cluster of $445,961,340 for the year ended December 31, 2023.
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Recommendation:
The Clinic should ensure that the subrecipient monitoring checklist is completed timely and
documentation is retained to support the operating effectiveness of established internal controls.

Subaward monitoring checklists are included in monthly/quarterly reviews, which were delayed
during the last half of 2023 due to the implementation of a new general ledger system effective
April 1, 2023. Monthly/quarterly reviews resumed in January 2024. Communication has occurred
to reiterate control process expectations.
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Finding 2023-004 – Activities Allowed or Unallowed and Allowable Costs/Cost Principles

Defense
Pass-Through Entities: Boston University, Georgia Institute of Technology, Massachusetts General
Hospital, NYU Grossman School of Medicine, Stanford University, The University of Texas,
University of Buffalo, University of Chicago, and Washington University
93.396, 93.397, 93.837, 93.838, 93.846, 93.847, 93.853, 93.855, 93.859, 93.865, and 93.866
Identification of the state projects:
State Grantor: State of Florida Department of Health (DOH)

Catalog of State Financial Assistance (CSFA) No.: 64.130, Endowed Chair for Cancer Research
Award Number: MOG07
Award Period: July 1, 2014 – until expended

Catalog of State Financial Assistance (CSFA) No.: 64.135, Ed and Ethel Moore Alzheimer’s
Disease Research Program
Award Numbers: 20A10, 22A04, 22A05, 22A06, 22A07, 22A08, 22A09, 22K01, 23A03, 23A04,
and 23K09

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“The Non-Federal entity must:

Section 215.97, Florida Single Audit Act, part (2)(j) states, “Internal control over state projects
means a process, effected by a nonstate entity’s management and other personnel, designed to
provide reasonable assurance regarding the achievement of objectives in the following categories:
1. Effectiveness and efficiency of operations.

2. Reliability of financial operations.
3. Compliance with applicable laws and regulations.”
Condition:
Internal controls over effort reporting were not operating effectively from April 1, 2023 through
May 31, 2023 and, therefore, could not be relied upon.
Internal controls over salary cap were not operating effectively from April 1, 2023 through
December 31, 2023 and therefore, could not be relied upon.
Cause:
The Clinic implemented a new general ledger system effective April 1, 2023. The general ledger
implementation necessitated a rewrite of the effort certification system which delayed certification
for the months of April and May. Therefore, for the period April 1, 2023 through May 31, 2023,
effort certifications were not performed monthly.
The information technology application used to calculate salary cap adjustments to salary expenses
resulting from the effort certification process was not functioning as designed from April 1, 2023
through December 31, 2023.
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Salary cap adjustments to payroll costs charged to the federal program may not be recorded timely.
Unallowable payroll costs may be charged to the federal program or state project.
Questioned costs:
None.
Context:
Payroll and fringe benefit expenditures are $163,912,932, representing 36.8% of total Federal
expenditures for the R&D Cluster of $445,961,340 for the year ended December 31, 2023.
Payroll and fringe benefit expenditures are $289,963, representing 30.8% of total state
expenditures for CSFA 64.130 of $940,679 for the year ended December 31, 2023.
Payroll and fringe benefit expenditures are $551,321, representing 67.5% of total state
expenditures for CSFA 64.135 of $816,958 for the year ended December 31, 2023.

Recommendation:
Management should ensure effort report certifications and approvals are performed monthly. In
addition, management should review the design of the payroll salary cap application to ensure it
is appropriately calculating salary expenses during the effort certification process.

Effort certification was delayed for the months of April and May 2023. No certification periods in
2023 were missed and the effort certification system is operating as designed as of July 17, 2023.
Manual reconciliations of the salary cap application were performed on every award for fiscal year
2023 to ensure salaries were correctly charged. The salary cap application is working effectively
as of January 1, 2024.
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Finding 2023-005 – Procurement, Suspension and Debarment
Defense
Pass-Through Entity: The University of Texas Health (93.853, NS119834)
Assistance Listing Nos.: 12.420, 93.310, 93.353, 93.393, and 93.853
Award Numbers: W81XWH-15-1-0292 (12.420), OD23121 (93.310), CA246568 (93.353),
CA259201 (93.393), NS119834 (93.853), NS122096 (93.853)
Section 200.303 of the Uniform Guidance states the following regarding internal control:
“The Non-Federal entity must:
reasonable assurance that the non-Federal entity is managing the Federal award in
compliance with Federal statutes, regulations, and the terms and conditions of the
Federal award. These internal controls should be in compliance with guidance in
“Standards for Internal Control in the Federal Government” issued by the Comptroller
General of the United States or the “Internal Control Integrated Framework,” issued by
the Committee of Sponsoring Organizations of the Treadway Commission (COSO).”
Section 200.320(a)(2)(i) of the Uniform Guidance states the following regarding small purchases:
“The acquisition of property or services, the aggregate dollar amount of which is higher than
the micro-purchase threshold but does not exceed the simplified acquisition threshold. If small
purchase procedures are used, price or rate quotations must be obtained from an adequate
number of qualified sources as determined appropriate by the non-Federal entity.”
Section 200.320(b) of the Uniform Guidance states the following regarding formal procurement
methods to be followed:
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“When the value of the procurement for property or services under a Federal financial
assistance award exceeds the simplified acquisition threshold (SAT), or a lower threshold
established by a non-Federal entity, formal procurement methods are required. Formal
procurement methods require following documented procedures. Formal procurement
methods also require public advertising unless a non-competitive procurement can be used in
accordance with § 200.319 or paragraph (c) of this section.”
Section 200.214 of the Uniform Guidance states “Non-Federal entities are subject to the non-
procurement debarment and suspension regulations implementing Executive Orders 12549 and
12689, 2 CFR part 180. The regulations in 2 CFR part 180 restrict awards, subawards, and
contracts with certain parties that are debarred, suspended, or otherwise excluded from or ineligible
for participation in Federal assistance programs or activities.”
The Clinic procurement justification form for procurements more than $25,000 requires
completion of the rationale for the procurement and a search of the federal government’s exclusion
list to be performed and documented at the time of the procurement.
On a monthly basis, Supply Chain Management performs a review of completed procurement
justification forms related to procurements > $25,000 to ensure they are documented in accordance
with the Clinic’s procurement, suspension and debarment policies and procedures.
Condition:
Internal Control
For five (56%) of nine procurement transactions tested for operating effectiveness of internal
controls, the procurement justification form used by the Clinic to document the history of the
procurement and compliance with Uniform Guidance CFR 200.303, was not completed until after
the purchase order was created and/or invoice received from the vendor. In addition, for these same
five procurement transactions, the Clinic did not timely document its suspension and debarment
check at the time of procurement as required by its procurement justification form.
In addition, for four (44%) of nine procurement transactions tested for operating effectiveness of
internal controls (two of which relate to the five cited above), the procurement justification form
used by the Clinic to document the procurement transaction’s compliance with policies, procedures
and the Uniform Guidance was outdated.
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Furthermore, the monthly review of completed procurement justification forms related to

procurements > $25,000 to ensure they are documented in accordance with the Clinic’s
procurement, suspension and debarment policies and procedures was not operating effectively.
Compliance
For one (9%) of 11 procurement transactions tested for compliance, the procurement was an add-
on purchase related to a larger procurement of the same product under a prior purchase order. The
prior procurement was above the simplified acquisition threshold and the Clinic’s competitive bid
threshold. The Clinic did not complete a procurement justification form for the add-on purchase
(which was a small purchase), and the original procurement did not have adequate support to
evidence that it had been competitively bid. As such, adequate documentation did not exist for the
procurement in accordance with Uniform Guidance Section 230.320(a)(2)(i) and(b).
In addition, for five procurement transactions, the Clinic did not follow its suspension and
debarment procedures as required by its procurement justification form.
Cause:
While management has internal controls in place to review procurements > $25,000 to ensure they
are documented in accordance with the Clinic’s procurement, suspension and debarment policies
and procedures and Uniform Guidance CFR 200.320, the review of the procurement justification
form is not robust enough to identify errors and there is not a process in place to ensure the form
is completed prior to the purchase.
The Clinic’s internal controls over procurement were not properly followed during the fiscal year.
In addition, the Clinic did not follow the Uniform Guidance requirements related to small
purchases and noncompetitive procurements.
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Questioned costs:
$53,482, determined as the amount of the procurement expenditures included in the schedule of
expenditures of federal awards for the year ended December 31, 2023, for the one procurement
transaction that had inadequate support for compliance with CFR 200.320 at the time of
procurement, as follows:
 Assistance Listing No. 93.310, OD023121 – $53,482
Context:
Internal Control
We sampled nine federal procurements over $25,000 to test operating effectiveness of internal
controls, totaling $962,393, from a population of 74 federal procurements over $25,000, totaling
$5,400,242 and noted the following:
 For seven of the 11 federal procurements tested totaling $770,093, procurement controls
were not operating effectively.
 For five of 11 procurement transactions tested totaling $529,273, the independent
suspension and debarment check to be performed at the time of procurement was not
performed until approximately two to eight months later.
Compliance
We sampled 11 federal procurements over $25,000 to test compliance, totaling $1,736,844, from
a population of 74 federal procurements over $25,000, totaling $5,400,242 and noted the
following:
 For one of 11 federal procurements tested totaling $53,482, documentation retained was
not adequate to support that the procurement transaction was executed in accordance with
the Uniform Guidance Sections 200.320(a)(2)(i) and (b).
 For five of 11 procurement transactions tested totaling $529,273, the Clinic did not follow
its suspension and debarment procedures as required by its procurement justification form.
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Procurement-related expenditures are approximately 9% of total Federal expenditures for the R&D
Cluster of $445,961,340 for the year ended December 31, 2023.
The finding is not a repeat of the finding of the prior year.
Recommendation:
The Clinic should ensure that all R&D awards that require procurement of goods and services
follow established policies, procedures, and internal controls to comply with the Uniform
Guidance procurement standards and that the procurement justification form is reviewed prior to
entering into the purchase transaction. The Clinic should ensure that independent checks for
suspension and debarment should be timely completed at the time of procurement in accordance
with the Clinic documented policies, procedures, and internal controls.
Management will reinforce education and training to the research community and procurement
teams regarding the procurement requirements, Justification of Source Selection Checklist/Form,
and timely completion of the required documentation.
The Clinic utilizes a third party, Visual Compliance, to execute daily supplier sanction and
debarment checks for all Mayo Clinic vendors. All third party suspension and debarment match
alerts are reviewed and adjudicated as needed. Going forward, the Clinic will supplement this daily
review by periodically validating a sample of vendors who are not flagged with an alert by Visual
Compliance.
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Summary Schedule of Prior Audit Findings – For the Years Ended December 31, 2022 and 2021
Finding 2022-001 – Information Technology General Controls

Federal Cluster/Program: Student Financial Assistance
Award Periods: July 1, 2021 through June 30, 2022, and July 1, 2022 through June 30, 2023
Summary of Prior Audit Finding

Condition:
Mayo Clinic (the Clinic) did not implement all Complementary User Entity Controls (CUECs) as
prescribed in the Ellucian SOC 1 Report that are required to be in place to support effective
information technology general controls (ITGCs) for the Banner application. The controls that
were not specifically implemented relate to user access review. Additionally, user provisioning
and user termination processes were not operating as designed. As a result, Banner ITGCs cannot
be relied upon in the period of audit.
There is a risk the data relevant to the SFA Cluster program stored within the student financial aid
system may be inappropriately created or modified. A user access review was not performed
during the current period. For the remainder of the CUECs, evidence of the operation of controls
identified to address this risk during the fiscal period under audit was not appropriately retained.
Recommendation:
Management should complete the implementation for all required CUECs prescribed within the
Ellucian SOC 1 Report and retain documentation of the operation of controls.
Status
Completed. Mayo Clinic IT worked with the Student Financial Aid office to review the risk rating given
to the Banner application. A complete user access review based on job roles was completed in
2023. The review included each employee’s assigned functions within the Banner system. The
user provisioning process was updated to include the functions the user is receiving.
Enhanced documentation is now retained for user terminations and other system reports required
to complete testing of the Banner controls.
Contact Person
Alec Haws, ETC Education Application Analyst
Raj Sanwal, Lead IT Analyst/Programmer
Finding 2022-002 – Procurement, Suspension and Debarment

Federal Agency: U.S. Department of Health and Human Services
Pass-Through Entities: University of Iowa (93.397) and NYU Grossman School of Medicine
(93.838)
Assistance Listing Nos.: 93.310, 93.394, 93.397 and 93.838
Award Numbers: OD23121, CA212162, CA97274 and HL16847
Page 1 of 9
Condition:
Four federal procurements conducted in fiscal year 2022 in excess of the SAT of $250,000 were
not competitively bid as required under Uniform Guidance Section 230.320(b) nor was a
competitive bid exception documented to support the lack of formal proposals in accordance with
Clinic procurement policies and procedures and Uniform Guidance Section 230.320(c). In
addition, for one procurement, the Clinic did not timely document its independent suspension and
debarment check at the time of procurement as required by its procurement justification form.
Recommendation:
The Clinic should ensure that all R&D awards that require procurement of goods and services
follow established policies, procedures and internal controls in order to comply with the Uniform
Guidance procurement standards. The Clinic should ensure that independent checks for suspension
and debarment should be timely completed at the time of procurement in accordance with Clinic
documented policies, procedures and internal controls.
Status
Completed. The procurement policies and procedures were reviewed and no changes were needed
however, the appropriate education has been completed with Supply Chain Management staff to review
and educate them on the federal bid requirements. A checkpoint was also added to communicate
expectations on determining when a project is federally funded. In addition, the Audit, Controls, &
Finance Team does a monthly review of federal purchases over $25,000 to ensure proper documentation
is retained.
Contact Person
Bruce Mairose, SCM Division Chair, Sourcing/Network Management
Finding 2022-003 (and 2021-006) – Gramm-Leach-Bliley Act – Student Information Security

(GLBA)


Condition:
The Clinic has a security risk program in place that follows the National Institute of Standards and
Technology (NIST) framework to assess its information technology risks. The program includes:
(1) employee training and management; (2) information systems, including network and software
design, as well as information processing, storage, transmission, and disposal; and (3) detecting,
preventing, and responding to attacks, intrusions, or other systems failures.
However, for the student financial aid system used by the Clinic, the 2022 NIST risk assessment
did not cover (2) information systems, including network and software design, as well as
information processing, storage, transmission, and disposal; and (3) detecting, preventing, and
responding to attacks, intrusions, or other systems failures.
Recommendation:
We recommend that the Clinic include the student information systems as part of its annual
Page 2 of 9
enterprise-wide risk assessment.
Status
Completed. The following steps have been completed to address the gap identified:
1. Compared the scope of the Mayo Clinic Information Security annual risk assessment and the
requirements of the Department of Education, under the Gramm-Leach-Bliley Act and
identified any gaps.
2. Edited the existing annual risk assessment to close the gaps.
3. Completed the risk assessment.
Contact Person
Sarah Tyson, Senior Manager – Office of Information Security
Finding 2022-004 (and 2021-007) – Enrollment Reporting

Award Period: July 1, 2021 through June 30, 2022

Condition:
As part of the review of the monthly SFRNSLC enrollment report prior to its upload to the National
Student Clearinghouse (NSC)/National Student Loan Data System, the Financial Aid Director
sampled 10 students from the monthly SFRNSLC enrollment report for accuracy against the
student records system and sampled 10 students from the student records system for completeness
against the monthly SFRNSLC enrollment report. However, evidence was not retained of the
students sampled and the specific data validated as part of the review for the period January 1 –
June 30, 2022. Management implemented internal controls on July 1, 2022 to include the retention
of documentation over its internal controls. This control was tested for the period July 1, 2022
through December 31, 2022 and determined to be operating effectively.
Recommendation:
Management should continue to follow its internal control implemented on July 1, 2022 which
documents the review process performed by the Financial Aid Director, including the students
sampled and specific data validated, the results of the review, and the follow-up actions taken, if
any, and sign-off by the Financial Aid Director to evidence performance of the monthly review.
Status
Completed. Management retains evidence to support internal controls implemented as of July 1, 2022,
to document the review process performed for data submitted to the National Student Loan
Clearinghouse, including the students sampled and specific data validated, the results of the review, and
the follow-up actions taken, if any, and sign-off by the Financial Aid Director to evidence performance
of the monthly review.
Contact Person
Anne Dahlen, Director of Student Financial Aid/Registrar
Delores Henke, Assistant Registrar
Page 3 of 9
Finding 2022-005 (and 2021-008) – Activities Allowed or Unallowed and Eligibility (Cost of
Attendance)

Condition:
Annual cost of attendance (COA) budgets (by program/by enrollment status) uploaded to Mayo
Clinic College of Medicine and Science’s student information system by the Program Manager of
Student Financial Aid were not reviewed and approved by another individual for accuracy once
the upload was complete for the period January 1 – August 31, 2022. Management implemented
internal controls on September 1, 2022 to include evidence over review and approval of COA
budgets and performed the control for any remaining programs for which COA budgets required
upload to the student information system by December 31, 2022. This control was tested for the
period September 1, 2022 through December 31, 2022 for two of four programs subject to the new
control and determined to be operating effectively.
Recommendation:
Management should continue to follow its internal control implemented on September 1, 2022
which requires signoff on the annual COA budgets uploaded into the student information system
by the Program Manager of Student Financial Aid by a secondary reviewer to ensure accuracy.
Status
Completed. Annual cost of attendance budgets uploaded to Mayo Clinic College of Medicine and
Science’s student information system by the Program Manager of Student Financial Aid are reviewed
and approved by another individual for accuracy once the upload is complete.
Contact Person
Maribeth Foerster, Program Manager Student Financial Aid
Finding 2022-006 – Reporting

Information of the state program:
Catalog of State Financial Assistance (CSFA) No.: 64.130, Endowed Chair for Cancer Research
Award Number: MOG07
Award Period: 07/01/2014 – 06/30/2023

Condition:
The annual progress report required by the State of Florida DOH was not submitted timely and no
approved extension was obtained. Additionally, there was an error in the amounts reported for
Endowment Expenditures and Endowment Balance for one of seven activities under Award
Number MOG07.
Recommendation:
The Clinic should implement an internal control over the monitoring of due dates of all reports
required to be submitted under the State of Florida DOH project to ensure they are reviewed and
Page 4 of 9
submitted timely. When required, formal extensions of reporting deadlines should be obtained
from the State of Florida DOH. In addition, review controls should be designed with sufficient
precision to ensure accuracy of amounts reported in the annual progress report.
Status
Completed. The statute requiring an annual progress report of award MOG07 has been repealed
effective 7/1/23 in Chapter 2023-246 of House Bill No. 5303. Mayo Clinic Government Engagement,
Research Administration and Research Finance will partner to create a control for any future reporting
required to the Florida Department of Health.
Contact Person
Layne Smith, Communication-Policy and Engagement
Brian Hultgren, Research Administration
Sarah Ward, Research Finance
Finding 2022-007 (and 2021-001) – Activities Allowed or Unallowed and Allowable Costs/Cost
Principles
(Internal Service Charges)
Federal Agency: U.S. Department of Health and Human Services
Pass-Through Entities: University of Iowa (Assistance Listing No. 93.397), Massachusetts General
Hospital (Assistance Listing No. 93.853), and UCB Pharma, Inc. (Assistance Listing 93.866)
Assistance Listing Nos.: 93.350, 93.393, 93.394, 93.395, 93.397, 93.837, 93.847, 93.853, and 93.866

Condition:
Approval of allowability of internal service charges by the Principal Investigator (PI) or
appropriate individual with authority on the grant was not consistently maintained at a
transactional level during the fiscal year.
Recommendation:
The Clinic should retain sufficient evidence of the monthly/quarterly review of internal service
charges by PIs and the related conclusions reached over allowability.
Status
Completed. Information Technology work is complete requiring that 1) the Principal Investigator, or
authorized lab personnel, initiates new requests for service, 2) the intake process captures the requestor
and project to be charged, and 3) confirmation is received before work begins. In addition, Research
Finance is implementing new processes to ensure the review of internal service charges are adequately
documented.
Contact Person
Sean Corcoran, Section Head – Information Technology, Research Applications
Sarah Ward, Vice Chair – Financial and Accounting Services, Research Finance
Kristine Williams, Operations Administrator – Research Administrative Services
Page 5 of 9
Finding 2021–002
Federal Program Information

Federal Agency: U.S. Department of Health and Human Services, Health Resources and Services
Administration (HRSA)
Assistance Listing No.: 93.461, COVID-19 HRSA COVID-19 Claims Reimbursement for the
Uninsured Program and the COVID-19 Coverage Assistance Fund (COVID-19 Uninsured
Program)
Award Period: January 1, 2021 through December 31, 2021

Condition:
The Clinic did not document its compliance with the HRSA COVID-19 Uninsured Program T&Cs.
For certain emergency department and physician office visits that included COVID-19 testing, but
COVID-19 was not the primary reason for the related treatment visit and services, the Clinic erroneously
billed the HRSA COVID-19 Uninsured Program for the entire encounter, which was not in compliance
with the HRSA COVID-19 Uninsured Program regulations.
Internal controls over the determination of a patient’s uninsured/self-pay status were not operating
effectively. In addition, inadequate support was retained in the patient billing and recordkeeping system
related to the determination of the patient’s uninsured/self-pay status and in some instances, no support
was retained.
Refunds required to be made to the HRSA COVID-19 Uninsured Program were not identified.
Furthermore, a risk exists that the data relevant to the HRSA COVID-19 Uninsured Program stored
within the patient accounting system may be inappropriately created or modified. Evidence of the
operation of controls identified to address this risk during the fiscal period under audit was not retained.
Recommendation:
The Clinic should implement internal controls to document its review and compliance with the HRSA
COVID-19 Uninsured Program T&Cs.
The Clinic should implement sufficiently precise internal controls to review changes to the HRSA
COVID-19 Uninsured Program to ensure it is administering the program in compliance with the HRSA
COVID-19 Uninsured Program regulations. In addition, internal controls should be implemented to
ensure claims submitted to the HRSA COVID-19 Uninsured Program meet the allowability criteria
established by the HRSA COVID-19 Uninsured Program regulations before claims are submitted to
HRSA for reimbursement.
Standard policies, procedures, and internal controls over the review for patient insurance coverage and
review of credit balances should be updated to address the unique aspects of the HRSA COVID-19
Uninsured Program.
Management should retain documentation of the operation of controls responsive to risks related to the
data stored in their IT systems as evidence of control activities.
Page 6 of 9
Status
Completed. A comprehensive review of the coverage rules in Mayo Clinic’s Electronic Health Record
(EHR) related to the HRSA COVID-19 Uninsured Program has been completed. EHR billing edits were
put in place to review claims prior to submission and ensure compliance with the HRSA COVID-19
Uninsured Program. A review of all HRSA COVID-19 Uninsured Program payments made from 2020
through April 30, 2022 were evaluated to ensure compliance with the HRSA COVID-19 Uninsured
Program T&Cs. Refunds were identified in the review process and have been expeditiously refunded
according the HRSA COVID-19 Uninsured Program requirements.
Contact Person
Sharon M. Kelley, Chair – Revenue Cycle
Michelle Densley, Director – Revenue Compliance
Finding 2021–003

Federal Agencies: U.S. Department of Defense, National Aeronautics and Space Administration,
National Science Foundation, and U.S. Department of Health and Human Services
Pass-Through Entities: Various
Assistance Listing Nos.: 12.300, 12.420, 12.RD, 43.RD, 47.074, 93.103, 93.172, 93.226, 93.242,
93.273, 93.279, 93.286, 93.307, 93.350, 93.353, 93.361, 93.393, 93.394, 93.395, 93.396, 93.397,
93.837, 93.838, 93.839, 93.840, 93.846, 93.847, 93.853, 93.855, 93.859, 93.865, 93.866, 93.867,
93.884, and 93.RD

Condition:
The Clinic maintains a monthly balanced scorecard to monitor that that subrecipient risk assessment are
being completed timely. For 8 of 12 months during the fiscal year, there was no evidence of review and
approval of the calculated metric.
The Clinic’s principal investigators perform monthly/quarterly reviews of subrecipient financial and
performance reports; however, documentation was not consistently completed or retained to evidence
the results of the monitoring during the fiscal year.
Recommendation:
The Clinic should ensure that evidence is retained to support the operating effectiveness of
established internal controls.
Status
Completed. Management has remediated review and approval of the balanced scorecard beginning in
2022. Management implemented corrective actions immediately following completion of the 2020
single audit in March of 2022. Those corrective actions ensure that proper documentation has been and
will continue to be retained to support the operating effectiveness of established internal controls.
Contact Person
Page 7 of 9
Finding 2021–004

Federal Agencies: U.S. Department of Defense, National Aeronautics and Space Administration,
National Science Foundation, and U.S. Department of Health and Human Services
Pass-Through Entities: Various
Assistance Listing Nos.: 12.300, 12.420, 12.RD, 43.RD, 47.074, 93.103, 93.172, 93.226, 93.242,
93.273, 93.279, 93.286, 93.307, 93.350, 93.353, 93.361, 93.393, 93.394, 93.395, 93.396, 93.397,
93.837, 93.838, 93.839, 93.840, 93.846, 93.847, 93.853, 93.855, 93.859, 93.865, 93.866, 93.867,
93.884, and 93.RD

Condition:
The Clinic does not have an internal control in place over the review and approval of subrecipient
invoices to ensure that the payment to the subrecipient is consistent with the terms and conditions
of the subaward agreement.
Recommendation:
The Clinic should review its policies and procedures and internal controls over subrecipient cash
management to ensure that subrecipients are paid on a cash reimbursement basis.
Status
Completed. Management developed corrective actions following completion of the 2020 single audit in
March of 2022. Those corrective actions include new controls and enhancements to existing controls
and have been implemented.
Contact Person
Finding 2021–005

Federal Agencies: United States Department of Education
Federal Cluster: Student Financial Assistance Cluster – Federal Direct Student Loans
Assistance Listing Nos.: 84.268
Award Periods: July 1, 2020 through June 30,2021, and July 1, 2021 through June 30, 2022

Condition:
The Mayo Clinic College of Medicine and Science (MCCMS) did not document the components
of its quality assurance system for the Federal Direct Loan program for the year ended December
31, 2021, in a single location. In addition, MCCMS did not retain documentation of its periodic
monitoring and evaluation of its direct loan quality assurance system, including results of the
assessments and whether any updates or changes were required.
Recommendation:
MCCMS should retain documentation of its periodic monitoring and evaluation of the direct loan
Page 8 of 9
quality assurance system.
Status
Completed. MCCM has met the requirements and has taken the following steps during our annual
review of policy and procedures:
1. Maintained a single Annual Direct Loan Quality Assurance program document outlining:
a. Policies and procedures reviewed
b. Outcome of review including changes made
c. Name of individual conducting the review
d. Date the review occurred
2. Archived a copy of the policy and procedures in our financial aid electronic folder each
academic year.
3. Maintained documentation of new federal guidelines or system updates along with confirmation
that necessary changes were made according to federal or system requirements.
Contact Person
Maribeth Foerster, Program Manager Student Financial Aid
Finding 2021–009

Federal Agency: U.S. Department of Health and Human Services, Health Resources and Services
Administration (HRSA)
Assistance Listing No.: 93.498, COVID-19 Provider Relief Fund and American Rescue Plan (ARP)
Rural Distribution
Award Period: January 1, 2021 through December 31, 2021

Condition:
Management did not retain supporting documentation over its approval of expenses reported to
HRSA in the HHS portal. While management had a robust process to identify and review expenses
for allowability under the PRF program, sufficient supporting documentation was not retained to
support the process.
Recommendation:
Management should reassess its internal controls over the review and approval of allowability of
expenditures.
Status
Completed. This award has ended, and no further expenditures are expected.
Contact Person
Connie Petch, Division Chair Accounting
Page 9 of 9
Corrective Action Plan
Finding 2023-001

Assistance Listing No.: 84.268, Federal Direct Student Loans (Direct Loans)
Award Periods: July 1, 2022 through June 30, 2023; July 1, 2023 through June 30, 2024
Corrective Action Planned

Annually, tests of access to Business Objects and properly authorized changes made to the logic within
Business Objects specific to the disbursement report used by management will be conducted. Testing
will be performed initially by Mayo Clinic’s internal audit team and in subsequent years by the Financial
Aid Director and Director of Data Analytics.
Persons Responsible for Corrective Action

Anne Dahlen, Director of Student Financial Aid
Aaron Pendl, Director of Data Analytics
Target Completion Date

November 30, 2024
Page 1 of 5
Finding 2023-002

Federal Agencies: U.S. Department of Health and Human Services and U.S. Department of Defense
Pass-Through Entities: Georgia Institute of Technology, Massachusetts General Hospital, NYU
Grossman School of Medicine, University of Chicago, University of Michigan, and Washington University
93.396, 93.397, 93.837, 93.838, 93.846, 93.847, 93.853, 93.855, 93.865, and 93.866

Management implemented revisions to the monthly/quarterly review packet in January 2024 to ensure
review of internal service charges and retention of review documentation. Management's expectations
have been communicated to those responsible for the control process regarding timely reviews and
retention of documentation.

Susan Norby, Division Chair - Financial and Accounting Services, Research Finance
Sarah Ward, Vice Chair - Financial and Accounting Services, Research Finance

January 31, 2024
Page 2 of 5
Finding 2023-003

Assistance Listing Nos.: 12.RDC, 12.300, 93.393, 93.396, 93.847, 93.853, 93.859

Monthly/quarterly reviews, including completion of subaward monitoring checklists, resumed in January
2024. Management's expectations have been communicated to those responsible for the control process
regarding timely checklist completion and retention of documentation.


January 31, 2024
Page 3 of 5
Finding 2023-004

Pass-Through Entities: Boston University, Georgia Institute of Technology, Massachusetts General
Hospital, NYU Grossman School of Medicine, Stanford University, The University of Texas, University of
Buffalo, University of Chicago, and Washington University
93.396, 93.397, 93.837, 93.838, 93.846, 93.847, 93.853, 93.855, 93.859, 93.865, and 93.866

Management has made improvements to the salary cap application to ensure salaries are being correctly
charged. The salary cap application is working effectively as of January 1, 2024.


January 31, 2024
Page 4 of 5
Finding 2023-005

Pass-Through Entity: The University of Texas Health (93.853, NS119834)
Assistance Listing Nos.: 12.420, 93.310, 93.353, 93.393, and 93.853
Award Numbers: W81XWH-15-1-0292 (12.420), OD23121 (93.310), CA246568 (93.353), CA259201
(93.393), NS119834 (93.853), NS122096 (93.853)

Management conducted an education and training session for procurement teams in June 2024 to
reinforce procurement requirements and documentation standards. Management will implement an
independent sanction and debarment check for suppliers as part of existing quarterly audits over Supplier
AP vendor master tables and related changes to those tables.

Daniel Schmitz, Division Chair - Supply Chain Management
Scott Hammer, Director - Supply Chain Management

June 30, 2024
Page 5 of 5

Mayo Clinic 2023 Audit Report

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CONSOLIDATED FINANCIAL REPORT,

SUPPLEMENTARY INFORMATION, UNIFORM

Ernst & Young LLP

Consolidated Financial Report, Supplementary Information,

Years Ended December 31, 2023 and 2022

Independent auditor’s report........................................................................................................ 1

Consolidated financial statements

Consolidated statements of financial position .............................................................................. 4

Financial Responsibility Supplemental Schedule required by the U.S. Department of

Uniform Guidance Reports and Schedule

Report of Independent Auditors on Internal Control Over Financial Reporting and on

Report of Independent Auditors

Report on the Audit of the Financial Statements

Basis for Opinion

Responsibilities of Management for the Financial Statements

Auditor’s Responsibilities for the Audit of the Financial Statements

 Evaluate the appropriateness of accounting policies used and the reasonableness of

Other Reporting Required by Government Auditing Standards

February 16, 2024, except for the Schedules

Investments 18,834 17,256

Total assets $ 31,927 $ 29,825

Liabilities and net assets

Long-term debt, net of current portion 4,098 4,121

Total liabilities and net assets $ 31,927 $ 29,825

See notes to consolidated financial statements.

Noncurrent and other items:

Increase (decrease) in net assets before other

See notes to consolidated financial statements.

Cash flows from investing activities:

Cash flows from financing activities:

Net increase (decrease) in cash and cash equivalents 16 18

Cash and cash equivalents at beginning of year 64 46

Cash and cash equivalents at end of year $ 80 $ 64

See notes to consolidated financial statements.

Notes to Consolidated Financial Statements (In Millions)

Note 1. Organization and Summary of Significant Accounting Policies

New Accounting Standards:

Notes to Consolidated Financial Statements (In Millions)

Note 1. Organization and Summary of Significant Accounting Policies (Continued)

Notes to Consolidated Financial Statements (In Millions)

Note 1. Organization and Summary of Significant Accounting Policies (Continued)

Notes to Consolidated Financial Statements (In Millions)

Note 1. Organization and Summary of Significant Accounting Policies (Continued)

Notes to Consolidated Financial Statements (In Millions)

Note 2. Liquidity and Availability

Note 3. Medical Service Revenue

Notes to Consolidated Financial Statements (In Millions)

Note 3. Medical Service Revenue (Continued)

Notes to Consolidated Financial Statements (In Millions)

Note 3. Medical Service Revenue (Continued)

Notes to Consolidated Financial Statements (In Millions)

Note 3. Medical Service Revenue (Continued)

Year Ended December 31, 2023

External lab 924 — — 924

Timing of revenue and recognition:

Year Ended December 31, 2022

External lab 901 — — 901

Timing of revenue and recognition: