USOC CEO Scott Blackmun's compensation jumped to $902,977 in ‘11, his first full year on the job, according to the organization's tax filings which were released Friday. The compensation figure includes a long-term performance bonus of $160,610 that won't be paid until ‘14. Blackmun also earned the organization's largest total compensation in ‘10, bringing in $638,407. During a non-Olympic year, the USOC's total revenue dipped to $140.7M, down 44% from the $250M it generated in revenue in '10 and down 4% from the $146.7M in revenue it generated in '07, the comparable year during the prior quad. The USOC's revenue decreases in non-Olympic years because it does not receive broadcast rights revenue in years without a Summer or Winter Games. The organization generated $77.7M in revenue from royalties, $55M from grants, gifts and fundraising, and $6.9M from its Olympic Training Centers and other program service areas. The USOC spent a total of $185M on expenses in '11, down 3.5% from the $191.5M it spent in '10 but up 54% from the $119.8M it spent in '07. The organization’s largest expenses were: $65.9M in grants and assistance to NGBs, athletes and sports organizations; $28.9M in salaries and wages; $19.3M in outside services; and $10.1M in travel. It spent $4.1M on exec salaries. It cut the total number of former employees it paid from three to one, paying only former COO Norm Bellingham, who left the USOC in Feb. ‘11, total compensation of $655,219. The chart below lists the USOC's top five execs in terms of total compensation (Tripp Mickle, SportsBusiness Journal).
|
TOP FIVE USOC EXECS IN TERMS OF COMPENSATION
|
| EXEC |
COMPENSATION
|
| COO Norm Bellingham |
$655,219
|
| CMO Lisa Baird |
$509,416
|
| CCO Patrick Sandusky |
$365,178
|
| General Counsel Rana Dershowitz |
$350,055
|
| CFO Walter Glover |
$316,192
|
| |
|
SOMETHING TO THINK ABOUT? In Chicago, Philip Hersh wrote, "If I were among the vast majority of U.S. Olympians who struggle to make ends meet, I would be taken aback by the salaries of U.S. Olympic Committee staff members listed in the 2011 USOC tax filing." Hersh: "The good thing is the USOC has achieved enough stability since Blackmun became CEO in 2010 that it no longer is paying fired former executives six figures a year -- or, in the case of departed acting CEO Stephanie Streeter, seven figures." USOC Chief Communications Officer Patrick Sandusky said, "Independent research has shown that these salaries are well in-line, and often less, than salaries at other top sports organizations throughout the country" (CHICAGO TRIBUNE, 5/20).
