Increased broadcast rights fees for the London Games drove the USOC's total revenue to a record $337.4M last year, according to tax filings the organization released yesterday. The total marks a 20% increase from the $280.6M in revenue the USOC collected in ‘08, the last time a Summer Games was held. The organization receives 12.75% of TV rights revenue the IOC collects from NBC and the network’s payment jumped from $893M for the ‘08 Beijing Games to $1.2B for London. As a result, the USOC’s broadcast rights revenue jumped from $123.4M in ‘08 to $164.6M in ‘12. Sponsorship revenue, which included both domestic and an 18% cut of IOC sponsorships, brought in $98.6M, up from $94.3M in ‘08, while gifts, grants and fundraising totaled more than $61.2M, up from $51.8M in ‘08. Total expenses hit $247.1M in ‘12, up 7% from $231.1M in ‘08. Grants to NGBs topped the list of expenses with $56.9M. The other top expenses included: $31.9M on salaries, $23.1M on athlete grants, $21.6M on outside services and $16.4M on travel.
| |
'12
|
'08
|
| TOTAL REVENUE |
$337.4M
|
$280.6M
|
| Broadcast Rights |
$164.6M
|
$123.4M
|
| Sponsorship Revenue |
$98.6M
|
$94.3M
|
| Gifts, Grants & Fundraising |
$61.2M
|
$51.8M
|
| TOTAL EXPENSES |
$247.1M
|
$231.1M
|
| NGB Grants |
$56.9M
|
$48.9M
|
| Salaries |
$31.9M
|
$25.6M
|
| Athlete Grants |
$23.1M
|
$21.7M
|
| Outside Services |
$21.6M
|
$23.8M
|
| Travel |
$16.4M
|
$21.5M
|
For the first time in four years, the organization’s tax filing does not include any payments to former execs. The organization’s ‘09 filing saw it pay former execs $1.49M, and its ‘10 filing showed payments to three CEOs: current CEO Scott Blackmun and two former CEOs, Jim Scherr and Stephanie Streeter. Blackmun earned total compensation of $765,359 last year. USOC CMO Lisa Baird earned $495,479, Chief Communications & Public Affairs Officer Patrick Sandusky earned $398,983, CFO Walter Glover earned $361,261 and General Counsel Rana Dershowitz earned $337,737.
