With a surplus of $1.8 million, the University of Iowa Athletics Department made money last year for the first time since 2013-2014, according to the department’s 2016-2017 report to the NCAA.
The UI reported $130.7 million in total operating revenue in 2016-2017, compared to $128.9 million in expenses.
In addition to receiving no taxes or tuition, UI Athletics committed this year to giving $2 million to academic programming, including diversity programming, student life initiatives, and student recreational services.
The Gazette obtained the NCAA reports of all three state university athletic departments through Open Records requests to the schools.
Iowa State University had $82.66 million in operating revenue for 2016-2017 and $82.57 million in expenses, leaving a $94,271 surplus, according to the NCAA report. ISU’s revenue included $2.1 million in student fees.
UNI reported $19.5 million in operating revenue for 2016-2017, including nearly $9.3 million from UNI and student fees. Operating expenses were $18.4 million.
The $1.1 million surplus UNI reported to the NCAA includes $492,868 in endowment income and a one-time $516,000 distribution from the NCAA intended for student-athlete life-skills programs and resources, UNI Athletic Director David Harris said.
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UNI chose to invest the bulk of the NCAA money, using just the income from the fund to pay for things like speakers and an etiquette dinner, he said.
“That number is accurate, it’s just not accessible to us to do the regular things we need do in the department,” Harris said.
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