It turns out that even if you’re inept at what you do, you can still make pretty good money if you don’t have to pay the labor.
The NCAA recorded a nearly $61 million surplus for its 2013 fiscal year, according to an audited financial statement the association released Thursday.
While the surplus is smaller than those the association had in each of its two previous years, this is third consecutive year in which the annual surplus has exceeded $60 million. This increased the NCAA’s year-end net assets to more than $627 million, just less than double where they stood at the end of its 2007 fiscal year.
Among the NCAA’s more than $589 million in unrestricted assets is an endowment fund that had grown to more than $326 million as of the end of its 2013 fiscal year, Aug. 31. The fund grew by more than $44 million in 2013, its greatest one-year increase since it was established in 2004.
Mark Emmert probably needs a raise.