USOC CEO Scott Blackmun last year was paid $749,000 in bonus and incentives, which he earned over the previous four years by returning stability to the organization and improving its bottom line. The bonus payout was part of Blackmun’s initial deal when he was hired by the USOC in '10. He received $425,000 in deferred compensation for his first three years on the job and $324,000 in a bonus awarded last year. It brought his total compensation in '13 to $1.3M, according to tax filings the organization made public today. His base salary was $506,000.
In addition to revealing details of Blackmun’s compensation, the documents show that the organization effectively managed to increase revenue while controlling expenses over the last four years. Total revenue for the FY '13 was $168.2M, a 37% increase from '09, the last year between a Summer and Winter Olympics. Total expenses for the period were $195.7M, a 14% increase from '09. The USOC receives TV-rights revenue during fiscal years when the Olympics are held. The surpluses from those years allow it to operate at a loss in the years between Games. During FY '13, its total losses were $27.5M, a 44% decrease from the comparable FY '09.
