Report: The NCAA had $71 million in ‘surplus revenue’ in 2012

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The NCAA had nearly $872 million in total revenue in the 2012 fiscal year, according to a report from USA Today’s Steve Berkowitz.

With around $801 million is total expenses, the NCAA recorded a surplus revenue of $71 million, which sounds like a huge number until you consider that it’s about 10% of the money generated annually by the NCAA’s broadcasting contract with CBS and Turner.

There’s also this, from the report:

The surplus, an all-time best for the organization, increased its year-end net assets to more than $566 million, roughly double where they stood at the conclusion of the 2006 fiscal year.

Among the NCAA’s $530 million in unrestricted assets was an endowment fund that had grown to more than $282 million as of the end of its 2012 fiscal year, Aug. 31. That’s more than double what the fund was worth six years earlier.

Of the $872 million in revenue generated by the NCAA this year, $504 million was distributed to Division I schools, $115 million on association-wide programs and $38.3 million on management and general spending.

Too bad those piles and piles of money isn’t enough to give the people generating them a fair cut of the profits.

You can find Rob on twitter @RobDauster.