NCAA Men's Championship Game - Kansas v Kentucky

NCAA passes $500 million in net assets

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Non-profit, eh? reported Monday that the NCAA has now surpassed $500 million in net assets, including a $260 million endowment fund.

The information provided is a result of “an examination of the NCAA’s previous audited financial statements and membership reports, its federal income tax returns and a series of interviews and e-mails with association executives,” according to the  story.

In all, the analysis showed that the NCAA’s spending went to as much as $800 million, with an all-time high of $503 million being distributed to Division I schools. The analysis showed that the NCAA made at least $860 million during the 2012 fiscal year.

“We are not speculating on our year-end numbers,” spokesman ErikChristianson said via e-mail. “But we expect to post a surplus at the end of the year and make a supplemental distribution to our members after receiving final audited financial results.”

Another crazy finding? A large amount of the NCAA’s money comes from the television rights they gave to CBS and Turner Broadcasting for the NCAA Tournament, which pulled in $666 million in 2012. Along with the $18.8 million provided from ESPN’s rights to the women’s tournament, the total percentage of revenue provided is 80-percent. Insane.

There are a lot of numbers in the article, with great research provided by USAToday. The bottom line is that the NCAA is making a ton of money off these college kids and coaches in the midst of heated debate over whether college athletes should get paid, which is another blog for another time.

The NCAA is making a ton of bank and distributing it among the schools, including a huge endowment. This should stir the pot in this debate of paying college athletes.

But mainly, this is an eye-opener to anyone wondering exactly what type of profit the NCAA brings in. College sports is more and more looking like a business.

David Harten is the editor of The Backboard Chronicles. You can follow him on Twitter at @David_Harten.

#CBTtop100: Counting down the Top 100 Players in college basketball

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We’ll be counting down the top 100 players in college basketball all week long. Be sure to check back here throughout the week as the countdown continues over @CBTonNBC.

Jalen Coleman-Lands cleared to practice

INDIANAPOLIS, IN - MARCH 10: Jarrod Uthoff #20 of the Iowa Hawkeyes defends against Jalen Coleman-Lands #5 of the Illinois Fighting Illini in the second round of the Big Ten Basketball Tournament at Bankers Life Fieldhouse on March 10, 2016 in Indianapolis, Indiana. (Photo by Joe Robbins/Getty Images)
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When Illinois takes on Southeast Missouri State in the opener of the 2016-17 season, the Fighting Illini should have it’s starting backcourt out on the floor.

According to Jon Rothstein, Jalen Coleman-Lands has been cleared for all basketball activities. The sophomore two-guard has been recovering from a broken bone in his right hand.

The 6-foot-3 guard averaged 10.3 points per game, while shooting 42 percent from three, as a freshman. He, along with Malcolm Hill and Michael Thorne Jr., is one of three returning players who averaged double figures last season.

Coleman-Lands will team up with Tracy Abrams, a point guard who was granted a sixth year of eligibility after missing the past two seasons due to injuries.

This could prove to be a make-or-break year for John Groce, who enters his fifth season at the helm. He guided the Illini to an NCAA Tournament in his first season, but hasn’t been back since.

The key for the Illini is health. Abrams gives them experience and leadership, but it won’t be a surprise if there’s some rust in his game after spending the past two seasons on the sideline. Having a healthy Coleman-Lands will help stabilize the backcourt, while Hill, an all-conference caliber forward, and Thorne anchor the frontcourt.

NBC Sports projected Illinois to finish eighth in the Big Ten this season.

Curtis Jones jumps over Tom Crean

Tom Crean
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Indiana held its annual Hoosier Hysteria on Saturday night.

One of the highlights from the team’s dunk contest was when freshman guard Curtis Jones jumped over Indiana head coach Tom Crean.

This isn’t the first time we’ve seen a newcomer us his coach as a dunk contest prop. Last week, Rawle Alkins cleared Arizona head coach Sean Miller en route to a reverse jam.

Like Alkins, Jones was a sought-after scorer. The 6-foot-4 two-guard was rated No. 69 overall in the Class of 2016 by Rivals. He picked Indiana over offers from Cal, Cincinnati, Georgetown and more than a dozen other high-major programs.

WATCH: Edmond Sumner take off from the foul line

CINCINNATI, OH - FEBRUARY 03:  Edmond Sumner #4 of the Xavier Musketeers dunks the ball during the game against the St. John's Red Storm at Cintas Center on February 3, 2016 in Cincinnati, Ohio.  (Photo by Andy Lyons/Getty Images)
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Edmond Sumner is a big reason why Xavier is likely going to be a preseason top-10 team.

On Saturday night, during Musketeer Madness, Sumner won the team’s dunk contest when he took off from the foul line.

Sumner defeated freshmen Tyrique Jones and Quentin Goodin. J.P. Macura, the reigning Big East Sixth Man of the Year, took home the honors last year.

The 6-foot-6 redshirt sophomore is coming off a debut season in which he averaged 11.0 points, 3.4 rebounds and 3.6 assists per game.

WATCH: Duke goes crazy for Chase Jeter’s bottle flip

PROVIDENCE, RI - MARCH 17:  Chase Jeter #2 of the Duke Blue Devils looks on in the second half against the North Carolina-Wilmington Seahawks during the first round of the 2016 NCAA Men's Basketball Tournament at Dunkin' Donuts Center on March 17, 2016 in Providence, Rhode Island.  (Photo by Maddie Meyer/Getty Images)

The bottle flip has become an international sensation in recent months.

It’s as simple as it sounds: flipping a water bottle in the air, attempting to have it land upright.

Duke sophomore forward Chase Jeter, in front of 9,300-plus fans, successfully pulled off the bottle flip on Saturday night at Duke’s Craziness.

Jeter, the 6-foot-10, played in a reserve role as a freshman, averaging 1.9 points and 1.9 rebounds per game last season. He will be part of a loaded frontline that includes heralded freshmen Harry Giles and Marques Bolden, as well as redshirt senior Amile Jefferson, who returns to the lineup following a foot injury.