UConn annual financial report (merged thread)

[HuskyNan]

How UConn men’s, women’s basketball did financially in FY2024

The UConn Huskies men’s and women’s basketball teams have reported their revenue, expense and profit figures to the NCAA for fiscal year 2024.

bvmsports.com

 

[Zarathustra]

How UConn men’s, women’s basketball did financially in FY2024

The UConn Huskies men’s and women’s basketball teams have reported their revenue, expense and profit figures to the NCAA for fiscal year 2024.

bvmsports.com

BIG BUCKS!

 

[Rowdy831]

Pretty impressive numbers for both Men's and Women's BB. UConn really needs to get into a conference that has good football so they can benefit from some of that revenue.

 

[Puppy Love]

From the linked story:
Profits: The UConn athletic department reported a $4.6 million profit in FY2024, which is a $2.2 million increase from the prior year.

Only UConn volleyball made a profit in FY2024 ($13,511). Unfortunately, football lost $13.2 million, women’s basketball lost $4.6 million and men’s basketball lost $792,913.

I’d like to see the accounting that caused all of the sports except volleyball to lose money and yet show a $4.6 million profit for the athletic department overall. Something doesn’t seem right.

 

[Sifaka]

I’d like to see the accounting that caused all of the sports except volleyball to lose money and yet show a $4.6 million profit for the athletic department overall. Something doesn’t seem right.

I had the same initial thoughts. My best guess is that the department benefits from donations not allocated to an individual sport. This is not GAAP accounting, just back of the envelope guesswork.

 

[Bigboote]

I had the same initial thoughts. My best guess is that the department benefits from donations not allocated to an individual sport. This is not GAAP accounting, just back of the envelope guesswork.

I suspect the same thing. I wonder if, for example, the dole-out to the conference for the men's basketball team for winning the tourney is accounted as department revenue rather than team revenue. Seems odd to me that MBB showed a loss after winning the tourney.

 

[Cornell Lt]

It's only gong to get better now that the NCAA will payout for the NCAA Tournament

 

[Torch23]

How UConn women’s BB did financially in FY2024

 

[Bone Dog]

I’m not sure I understand the meaning of ‘profit’ in the context of a public university. Most departments aren’t expected to turn a profit, as far as I know. It would even seem a bit weird if they did. This is not to suggest that programs can’t become too expensive to run.

 

[Bigboote]

I’m not sure I understand the meaning of ‘profit’ in the context of a public university. Most departments aren’t expected to turn a profit, as far as I know. It would even seem a bit weird if they did. This is not to suggest that programs can’t become too expensive to run.

I dunno about state, but in corporations there's a difference between nonprofit and not-for-profit. In one case they're not allowed to turn a profit on almost anything, in the other one arm may turn a profit as long as the profit supports another arm that's operating at a loss.

I have no idea the deal with universities who have huge "health systems". A relative, who has degrees in business and some health-related fields, tried to explain it to me once, but despite being a total quant, it didn't register with me.