The University of Georgia Athletic Association, Inc., is one of the most successful and prosperous athletic programs in the Southerneastern Conference and in a greater picture, the NCAA division I-A intercollegiate sports.
In fiscal year ending June 2012, UGAA collected a revenue of roughly $91.7 million, a 2 percent increase from 2011's $90.2 million.
The UGAA is a nonprofit and private corporation that manages Georgia's 21 men's and women's varsity sports teams--the most notable being the football.
Football alone generated $19.6 million in 2012, 21 percent of its total revenue. According to UGAA's financial statements football is the third highest financial contributor, following SEC/NCAA revenue and football ticket contribution.
In terms of money, the SEC is a division of sports worth billions and earns more in revenue than costs of its athletic programs. In total of men's, women's, co-ed, and not allocated by gender/sport teams, SEC saw a profit of $8.2 million in 2012 in statistics from the U.S. Department of Education. Expenses totaled nearly $1.2 billion in that year.
UGAA profited $3.5 million in a surplus that contributed to the association's $68 millions reserves, reported OnlineAthens.
The difference in expenses reported in UGAA's 990 form to financial statements is few hundred thousand dollars short of $8 million. The tax form states $88,173,810 and in the corporation's annual review $80,486,295.
The expenses were not the only number slightly off between the two reports.
There is $134,155 missing from the financial statements report.
Broken down in both reports are the costs and expenses of maintaining a division I sports team.
Football undoubtedly is the primary moneymaker of the university's athletic programs.
Between 2011 and 2012, UGAA awarded 72 football scholarships worth $2.3 million to 72 players, roughly around $33,000 per player.
Included in scholarship awards under NCAA regulations include: tuition and fees, room, board and books.
There are two ways athletic scholarships are to be awarded under NCAA division I guidelines: "head-count" and equivalency.
Head-count is when the NCAA places a maximum number allowed of student-athletes who can receive up to a full scholarship. When the financial aid offered has to equal a set number of full scholarships, which is known as equivalency.
UGA runs on the head-count method and under NCAA rules are required to award up to 85 scholarships to football players.
Next up: A deeper look into scholarships and players
In fiscal year ending June 2012, UGAA collected a revenue of roughly $91.7 million, a 2 percent increase from 2011's $90.2 million.
The UGAA is a nonprofit and private corporation that manages Georgia's 21 men's and women's varsity sports teams--the most notable being the football.
Football alone generated $19.6 million in 2012, 21 percent of its total revenue. According to UGAA's financial statements football is the third highest financial contributor, following SEC/NCAA revenue and football ticket contribution.
In terms of money, the SEC is a division of sports worth billions and earns more in revenue than costs of its athletic programs. In total of men's, women's, co-ed, and not allocated by gender/sport teams, SEC saw a profit of $8.2 million in 2012 in statistics from the U.S. Department of Education. Expenses totaled nearly $1.2 billion in that year.
UGAA profited $3.5 million in a surplus that contributed to the association's $68 millions reserves, reported OnlineAthens.
The difference in expenses reported in UGAA's 990 form to financial statements is few hundred thousand dollars short of $8 million. The tax form states $88,173,810 and in the corporation's annual review $80,486,295.
The expenses were not the only number slightly off between the two reports.
There is $134,155 missing from the financial statements report.
Broken down in both reports are the costs and expenses of maintaining a division I sports team.
Football undoubtedly is the primary moneymaker of the university's athletic programs.
Between 2011 and 2012, UGAA awarded 72 football scholarships worth $2.3 million to 72 players, roughly around $33,000 per player.
Included in scholarship awards under NCAA regulations include: tuition and fees, room, board and books.
There are two ways athletic scholarships are to be awarded under NCAA division I guidelines: "head-count" and equivalency.
Head-count is when the NCAA places a maximum number allowed of student-athletes who can receive up to a full scholarship. When the financial aid offered has to equal a set number of full scholarships, which is known as equivalency.
UGA runs on the head-count method and under NCAA rules are required to award up to 85 scholarships to football players.
Next up: A deeper look into scholarships and players