Interesting article about vcu -
https://richmondbizsense.com/2019/03/18/vcu-athletics-budget-doubled-since-2011-final-four-run:
"vcu Athletics’ annual revenue has more than doubled in the last eight years, jumping from $16.3 million in fiscal year 2010 – the last fiscal year before the Final Four run – to $34.2 million in FY 2017, according to the most recent data available from the school.
Its expenses have grown at a similar rate, jumping from $16.8 million in FY 2010 to $33.5 million in FY 2017.
Per its FY 2017 data, student fees, which are part of the university’s annual tuition, provide the majority of vcu Athletics’ revenue at $19.9 million. Its next-largest revenue source is donations ($5.1 million), followed by licensing and sponsorships ($2.5 million) and men’s basketball ticket sales ($2.4 million).
Jeff Cupps, vcu’s senior associate athletic director, whose staff’s responsibilities include managing the business end of vcu Athletics, said increasing student fees is seen as a necessary evil to compete at a national level."
"According to data provided by vcu, the athletic portion of its student fee has risen an average of $33 each year since the 2011-2012 school year.
The student fee at vcu during the 2010-2011 school year was $558. In 2011-2012, it jumped to $610. The fee for the 2018-2019 school year is $827. The university has 31,076 students enrolled in 2019, compared with 32,303 in 2011.
Though the fees continue to rise, vcu Athletics’ reliance on that source of revenue is trending downward.
In 2010, student fees brought in $12.4 million, accounting for 76 percent of the department’s overall revenue. In 2017, the fees brought in $19.9 million, or 58 percent of vcu Athletics’ revenue."
"Another large revenue generator for vcu is alumni donations, which go mostly to the Ram Athletic Fund, not to specific teams. In 2017, alumni donated $5.1 million to vcu Athletics; in 2009, it was $464,000.
vcu Athletics does not often fundraise for specific sports. Instead, it pools all of its donations into a general fund that’s distributed to each sport as needed."
"The 2011 Final Four run put the school on the map nationally.
The next year, vcu announced it would be moving from the Colonial Athletic Association to the Atlantic 10 Conference, a move driven in part by the school’s desire to capitalize on the spotlight and learn from what it saw as miscalculations by then-fellow CAA school George Mason University, which had made a miraculous Final Four run of its own in 2006.
GMU joined the Atlantic 10 in 2013, but has made the NCAA tournament only twice since its Final Four appearance.
'I don’t want anybody to take this the wrong way, but we saw their Final Four run and said, "Hey we need to do anything we can to continue the momentum from that Final Four run,"' Cupps said of GMU.
'That meant trying to keep our head coach, moving to a higher-level conference if the opportunity arises and
building a basketball practice facility so we can really take advantage of that brief period of time that was so exciting,' he said, adding that he believes GMU is now heading in the right direction."