Congress asks NCAA some tough questions

Shoe's on the other foot for a change...

Just some congressmen looking for more money................

But, it'll be fun to watch the NCAA dance.

Wow,
My son got $20 per diem while in Omaha from them for spending money.

I never realized they were TAX exempt. You learn something new everyday.

If my math is correct that is over 27,000 scholarships at $20,000.00 per year.

IRS v. NCAA - Tough to pick a favorite on this one.

quote:

Originally posted by FormerObserver:
Just some congressmen looking for more money................

But, it'll be fun to watch the NCAA dance.

Yeah, we're going to see some serious tap and soft shoe...

This'll be fun to watch. It will be interesting to see if we learn why they can't afford more scholarships for low revenuce sports like baseball and so many others to be paid out of the largess that basketball and football generate.

Should the money go to administration, or enabling more students to afford an education?

quote:

what about NCAA reports showing that public universities spent as much as $600,000 per men's basketball player ..... familiar criticisms for the NCAA, such as low-graduation rates among athletes ... 38% for basketball

gee those basketball players are pretty high mainenence
and one could presume that 38% grad rate would fall quickly if they spent less


.

quote:

It will be interesting to see if we learn why they can't afford more scholarships for low revenuce sports like baseball and so many others to be paid out of the largess that basketball and football generate.

There is a program, that I can't recall the details this minute, where certain athletes are funded their final year of education that is funded by the NCAA.

But, the NCAA does not FUND scholarships.

They only decide HOW MANY can be provided by each sport.

They do that so that every thing can be EQUAL amongst the boys and the girls.

When you consider the cost of facilities and basketball coaching salaries, maybe in the 2-3 million range, then divide by 12 basketball players, the cost per player can get up there pretty quickly.

But, the football and basketball do generate money, more than the numbers mentioned above.

That's just the NCAA part.

The NCAA is governed by it's member schools and including the coaches in each sport.

I know exactly where you're coming from FO, I was just being sarcastic.

The NCAA has created so many rules that they couldn't give the money away even if they wanted to.

I am not understanding being a "not for profit" organization.

Just to clarify:
Being a "not for profit" or "nonprofit" does not mean an organization can't or shouldn't make a profit--couldn't survive that way. It means the organization is not held by stockholders or partners who will benefit from the profitability of the company-- at any time. All revenues are returned to the company for use in programs or daily ops, and if the business is ever liquidated, the profits must be given to another similar non-profit company. Profits can't be kept by the officers or founders.

A non-profit company can accept donations or create ways to make money to pay salaries, fund programs, etc. However, there can be no dividends distributed or profit sharing with investors. A for-profit company is free to distribute excess profits to stakeholders outside the company.

Nice explanation, quillgirl.

All your statments are correct about an often misunderstood concept.

Nothing prevents a non-profit from paying extremely high salaries to its officers. I wonder what the top brass at the NCAA make? It would be easy enough to find out, since they have to disclose it on their 990 tax forms.

Since non-profits have no shareholders that benefit from great financial performance, it is not unusual to see the high revenue non-profits like the NCAA pay very high salaries to its officers.

The PGA is an example. Its commissioner gets millions. Anybody know about the NCAA?