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USOC Sees Revenue Jump 7.6% In '14 Compared To Previous Winter Games Year

The USOC reported $270M in revenue in '14, a 7.6% increase over '10, the previous Winter Games year. A $29M gain in rights and licensing fees drove the gains, according to an IRS form published Friday. However, expenses grew at twice the rate revenue did, up 15.6% to $222M compared to four years earlier, leaving the federally chartered nonprofit with a $48M surplus, down from a $59M surplus in '10. USOC Assistant Dir of Communications Jon Mason said the growth in licensing fees is “a year-to-year and quad-to-quad trend that is incredibly important for us to continue to appropriately invest in America's elite athletes.” Amid the improved revenue figures, individual athletes and their sports’ NGBs received a proportional 7% gain in direct grant support from the USOC, officials said. The U.S. Ski & Snowboard Association received $4.56M, the largest single governing-body grant. USA Track & Field received $2.95M; USA Swimming received $2.73M; US Speedskating, $2.54M; and USA Shooting got $2.12M to round out the top five. Support grants for individual athletes, which include training costs, health insurance, performance incentives and tuition assistance, totaled $23.7M, an 8.7% increase over '13. USOC CEO Scott Blackmun made $1.04M in total income, which included $447,000 in bonuses on top of a base salary of $542,000. Despite receiving a raise, he actually took home about $266,000 less than last year with bonuses included. One year earlier, in the off-year of '13, the USOC posted $168.2M in revenue and $195.7M in expenses for about a $27.5M loss. The nonprofit’s most costly independent contractor was Bryan Construction Inc., the general contractor on the build-out of the Olympic Training Center in Colorado Springs, which received $6.9M. The rest of the top five comprised of Ticket broker Jet Set Sports, $2.6M for games hospitality packages; NBC Universal Inc., $2.2M for Paralympic broadcasting; Blue State Digital, $1.97M for media services; and Quad/Graphics Inc., $1.8M for printing and mailing.

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