Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1d · Related organizations

  $3,277,927

• 1f · All other contributions, gifts and grants

  $32,350,256

• 1g · Noncash contributions included above

  $828,900

• 2a · Program service revenue: Total Sports Revenue

  total $51,541,148 · related or exempt $50,379,393 · unrelated business $1,161,755

• 2b · Program service revenue: Student Athletic Fees and Related

  total $800,000 · related or exempt $800,000

• 2f · All other program service revenue

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 3 · Investment income

  total $253,125 · excluded $253,125

• 5 · Royalties

  total $49,683,246 · excluded $49,683,246

• 6c · Rental income or loss

  real property $0 · personal property $0

• 7a · Gross sales of assets other than inventory

  securities $3,515

• 7b · Less cost or other basis and sales expenses

  other assets $47,392

• 7c · Gain or loss

  securities $3,515 · other assets -$47,392

• 7d · Net gain or loss

  total -$43,877 · excluded -$43,877

• 11a · Other revenue: Administrative Support Services

  total $2,514,111 · related or exempt $2,514,111

• 11b · Other revenue: Marketing and Development Revenue

  total $372,340 · related or exempt $372,340

• 11d · All other revenue

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 11e · Other revenue, total

  $2,886,451

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $17,753,593 · program services $17,753,593

• 5 · Compensation of officers, directors and key employees

  total $1,046,521 · management and general $1,046,521

• 7 · Other salaries and wages

  total $52,468,310 · program services $50,270,582 · management and general $987,237 · fundraising $1,210,491

• 9 · Other employee benefits

  total $6,505,909 · program services $5,913,061 · management and general $319,507 · fundraising $273,341

• 10 · Payroll taxes

  total $5,092,122 · program services $4,892,544 · management and general $109,189 · fundraising $90,389

• 11b · Fees: legal

  total $94,954 · program services $94,954

• 11c · Fees: accounting

  total $51,495 · program services $16,025 · management and general $30,600 · fundraising $4,870

• 11g · Fees: other

  total $8,315,079 · program services $7,309,506 · management and general $926,436 · fundraising $79,137

• 12 · Advertising and promotion

  total $341,757 · program services $298,434 · management and general $24,853 · fundraising $18,470

• 13 · Office expenses

  total $283,122 · program services $273,868 · management and general $3,117 · fundraising $6,137

• 14 · Information technology

  total $1,354,043 · program services $1,338,458 · management and general $6,841 · fundraising $8,744

• 16 · Occupancy

  total $2,904,771 · program services $2,873,933 · management and general $2,700 · fundraising $28,138

• 17 · Travel

  total $16,773,294 · program services $16,496,846 · management and general $98,043 · fundraising $178,405

• 19 · Conferences, conventions and meetings

  total $21,896 · program services $21,896

• 20 · Interest

  total $2,589,740 · program services $2,589,740

• 22 · Depreciation, depletion and amortization

  total $12,424,352 · program services $12,424,352

• 23 · Insurance

  total $2,056,914 · program services $2,056,914

• 24a · Other expenses: Athletic event fees and expenses

  total $3,559,369 · program services $3,538,550 · management and general $5,166 · fundraising $15,653

• 24b · Other expenses: Repairs and maintenance

  total $3,147,970 · program services $3,141,847 · management and general $6,111 · fundraising $12

• 24c · Other expenses: Small equipment purchases and rentals

  total $2,536,954 · program services $2,500,160 · management and general $1,419 · fundraising $35,375

• 24d · Other expenses: Other licenses and fees

  total $2,439,031 · program services $2,419,014 · management and general $20,017

• 24e · All other expenses

  total $12,506,271 · program services $12,402,979 · management and general $58,202 · fundraising $45,090

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $51,500 · end of year $51,500

• 2 · Savings and temporary cash investments

  beginning of year $11,043,895 · end of year $5,723,848

• 3 · Pledges and grants receivable

  beginning of year $8,948,229 · end of year $9,417,226

• 4 · Accounts receivable

  beginning of year $70,241,413 · end of year $63,280,423

• 5 · Loans and receivables from officers and key people

  beginning of year $0 · end of year $0

• 6 · Loans and receivables from disqualified persons

  beginning of year $0 · end of year $0

• 8 · Inventories for sale or use

  beginning of year $5,400,451 · end of year $5,675,494

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,543,051 · end of year $1,084,491

• 10a · Land, buildings and equipment: cost or other basis

  $364,295,288

• 10b · Land, buildings and equipment: accumulated depreciation

  $123,567,171

• 10c · Land, buildings and equipment, net

  beginning of year $250,294,306 · end of year $240,728,117

• 11 · Investments: publicly traded securities

  beginning of year $3,907,852 · end of year $4,090,353

• 12 · Investments: other securities

  beginning of year $0

• 13 · Investments: program-related

  beginning of year $0

• 15 · Other assets

  beginning of year $1,518,938 · end of year $1,224,079

• 17 · Accounts payable and accrued expenses

  beginning of year $21,836,554 · end of year $23,853,861

• 19 · Deferred revenue

  beginning of year $70,378,248 · end of year $69,683,486

• 22 · Loans and payables to officers and key people

  beginning of year $0 · end of year $0

• 23 · Secured mortgages and notes payable

  beginning of year $32,348,965 · end of year $29,326,926

• 25 · Other liabilities

  beginning of year $125,012,170 · end of year $118,174,694

• 31 · Retained earnings, endowment or other funds

  beginning of year $103,373,698 · end of year $90,236,564

The filer's explanations (Part III)

Schedule J, Part I, Line 1a First-class or charter travel

Both men's and women's basketball teams, volleyball teams, and our football team all travel to away competitions on charter planes. Charter service is submitted for competitive bids for both teams to obtain the price/service. This process is per industry standard for the majority of Division I schools. Per the organization's policies, first class airfare cannot be expensed back to the organization.

Schedule J, Part I, Line 1a Travel for companions

The organization obtains approval from the President's Office for all travel of athletic staff family members to special events such as post-season competitions, holiday tournaments, and other events where spouses are expected to attend for bona fide business purposes. Expenses are covered from unrestricted monies and not part of the Athletic Association's operating budget. All spousal or family member travel is taxed as applicable according to IRS rules and regulations.

Schedule J, Part I, Line 1a Tax indemnification and gross-up payments

Kenneth Payne - tax grossup on contractual relocation benefits. Jeff Walz - tax gross up on imputed interest on split dollar life insurance. All tax gross ups were reflected as taxable compensation on the individuals' Forms W-2.

Schedule J, Part I, Line 1a Health or social club dues or initiation fees

The organization is authorized to provide country club memberships for the athletic director and some of its coaching staff as part of their respective employment contracts. These benefits are taxed accordingly where provided.

Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan

Jeff Walz participated in a split dollar life insurance compensation plan during the year of which $22,613 was treated as taxable imputed interest on premium loans.