Mayo Clinic 2nd Quarter Fiscal Performance Set a New Record
Rochester, MN (KROC-AM News) - The Mayo Clinic's recovery from the pandemic economic shutdown now includes a record-setting financial performance for the second quarter of this year.
A required regulatory filing indicates the Mayo Clinic's income from current activities from April through June totaled about $451 million. A year ago, that number was a better than expected $97 million considering the dramatic impact of the pandemic on Mayo's operations. It is also more than $150 million higher than the organization's previous record for income from current activities in the second quarter of 2019.
Mayo reported more than $3.99 billion in revenue for the three-month period this year compared with just under $3.16 billion in the second quarter of 2020. Expenses were also up, rising from just over $3 billion a year ago to more than $3.5 billion this year.
Through the first half of this year, the Mayo Clinic is reporting $705 million in income from current activities. The six-month total last year was $56 million, while it was $542 million in 2019.
The unaudited report was filed with the online Electronic Municipal Market Access site, a service of the Municipal Securities Rulemaking Board. The report is required because of municipal bonds sold by Mayo to finance various economic development projects.
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