With the Southeastern Conference (SEC) renegotiating its television contracts and poised to add two new members in Texas A&M and Missouri, now is a good time to take a look at the financial strength of the conference. Television revenue more than doubled for the SEC between 2009 and 2011, according to an analysis of the latest tax return data filed by the SEC.
The Southeastern Conference (SEC) posted gross receipts of $261,046,772 for the last fiscal year ending August 31, 2011, according to the conference’s Form 990 tax return. The conference has seen substantial revenue growth since 2008 thanks to new television deals with CBS and ESPN. The new television deals began in the 2009-2010 academic year.
The SEC’s gross receipts have grown from $148,010,406 in fiscal year 2008-2009 to $244,411,873 in fiscal year 2009-2010 to $261,046,772 in fiscal year 2010-2011. One big area of revenue growth comes in the area of television. In fiscal year ending 2009, the SEC reported $60,063,443 in television revenue. In fiscal year ending 2011, the SEC reported television and other production revenues of $158,334,324.
Other sources of revenue include $89,367,559 in income from postseason events, $6,063,211 in proceeds from sponsorship royalties, $3,789,556 in grants, scholarships and fellowships and the conference booked $2,862,673 in revenue from prior year events. The remaining $629,449 in earnings was generated by investment income.
The conference had $43,824,563 in investments at the end of August 2011. This was comprised of
$21,979,484 in savings and temporary cash and $22,844,909 in public traded securities.
The conference’s total expenses came to $250,147,971 with the largest part being distributions to member institutions.
The SEC distributed a total of $234,194,877 in benefits to member schools. This translated to about $19.5 million to each member university. Here is the actual breakdown as listed on the tax form for fiscal year beginning September 1, 2010 and ending August 31, 2011:
The University of Alabama received support in the amount of $19,632,661.
The University of Arkansas received support in the amount of $19,412,661.
Auburn University received support in the amount of $19,432,661.
The University of Florida received support in the amount of $19,522,666.
The University of Georgia received support in the amount of $19,485,646.
The University of Kentucky received support in the amount of $19,671,586.
Louisiana State University received support in the amount of $19,412,661.
The University of Mississippi received support in the amount of $19,432,661.
Mississippi State University received support in the amount of $19,612,661.
The University of South Carolina received support in the amount of $19,612,661.
The University of Tennessee received support in the amount of $19,486,321.
Vanderbilt University received support in the amount of $19,480,031.
The SEC provided $4,113,977 in other types of grants, scholarships, fellowships, donations to charities, drug education and compliance activities, according to the tax return.
The SEC spent $860,381 in game management expenses that included “officiating and umpires, home appearance fees, crossover fees, lighting allowance, and game guarantees,” according to the tax return.
SEC Commissioner Mike Slive earned a total of $1,008,771 in compensation from the SEC. This breaks down into a base salary of $940,000 for the SEC commissioner with $17,684 in other compensation, $36,750 in retirement compensation and $14,337 in nontaxable benefits.
Other SEC officers receiving compensation reported on the federal tax return include Executive Associate Commissioner Mark Womack at $371,911, Associate Commissioner Greg Sankey at $341,990, Associate Commissioner Mark Whitworth $193,340, Associate Commissioner Charles Bloom at $164,815 and the SEC Coordinator of Officials Rogers Redding at $161,826.
Chucklin, Inc., a consulting firm, was the highest compensated outside contractor. Chucklin received $400,000 from the SEC during the fiscal year ending August 31, 2011.