USOC Releases Tax Information, Revenue and Salary Figures

(ATR) The U.S. Olympic Committee is set to announce a new revenue-sharing deal with the IOC today, while last week it released its latest U.S. tax return with salaries of key staff made public.

The USOC took in $140.7 million in total revenue in a year without any Olympic broadcast revenue, according to the tax filings.

Total revenue dropped from 2010, when USOC coffers swelled by $250.6 million, in large part due to $105.1 million from broadcast revenue for the Vancouver Games. The USOC, which did draw a paltry $193,000 from broadcast rights in 2011, can look forward to a huge bump this year when the revenue from NBC/Universal’s deal to air the London Games kicks in.

At the Team USA Media Summit, CEO Scott Blackmun said the USOC has had "remarkable success" generating resources for the national governing bodies and athletes.

Blackmun said major gift revenue had doubled from 2010 to 2011 and sponsorships are ahead of where they were four years ago in terms of number of categories and dollars.

USOC spokesman Patrick Sandusky told ATR in an email, "We continue to see the strength of the Olympic brand grow in the U.S., and even in a tough economy, we have many great sponsors continue to back our Olympic and Paralympic teams in new and expanding ways."

The USOC’s Form 990, Return of Organization Exempt from Income Tax, can be accessed here.

Among the other nuggets gleaned from the 69 pages: Expenses decreased from $191.6 million to $185.1 million, although salaries increased from $37.8 million to $40.2 million. The highest-paid USOC employee is Blackmun, whose total compensation was $902,907. That includes salary and bonuses totalling $742,367 (a base salary of $456,211, bonus and incentives of $269,550), and well as retirement and other deferred compensation of $143,375, the bulk of which he is scheduled to receive in 2014.

The second-highest paid was Norman Bellingham, who is no longer with the USOC, and was paid $657,203 in total compensation. Marketing chief Lisa Baird made $533,814 in total compensation and Sandusky $397,427.

A total of 83 USOC staff members made at least $100,000 in 2011 and 14 had total compensation of at least $268,000.

"The USOC is dedicated to excellence and demands a great deal from USOC executives," Sandusky said in an email. "In order to recruit and retain the very best in the business, we provide market-based compensation. However, independent research has shown that these salaries are well in-line, and often less, than salaries at other top sports organizations throughout the country.

"In addition, at every position where we have made a new hire over the course of the last 2-plus years (i.e. the CEO, CAO, CCO, etc) the person we have recruited has been paid a salary that is less than what we paid their predecessor."

Blackmun also said at the media summit that the USOC has "sharpened its focus" on distributing the revenue to sustain competitive excellence and generate success for the U.S. on the podium.

The USOC’s largest expenditures were in the area of grants to organizations including NGBs and various smaller groups ($44.6 million) and individuals ($20.3 million).

In a year that included the Winter Olympics, the U.S. Ski and Snowboard Association received the most from the USOC in grants, $3.45 million. U.S. Speedskating received $2.51 million, the Bobsled and Skeleton federation $1.5 million, U.S. Biathlon $1.22 million, USA Hockey $1.2 million and U.S. Figure Skating $867,000.

Among summer sports, USA Track and Field received $2.72 million, USA Swimming $2.49 million. The governing bodies for wrestling, shooting, volleyball, rowing, sailing, gymnastics, diving, equestrian, cycling and fencing also received more than $1 million.

The athlete performance pool, which supports training, was $12.6 million, while elite athlete health insurance and other medical benefits totaled $5.8 million and $1.76 million went toward Operation Gold, which rewards top competitive finishes.

Written by Karen Rosen.

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