The NCAA reported a revenue of $1.1 billion for the 2017 fiscal year after releasing their annual audited financial statement.
The NCAA, which operates as a non-profit organization, surpassed the $1 billion threshold for the first time.
According to the statement, the increase in revenue comes from hikes in television and marketing fees, plus money generated from championship events and investment income.
About $26 million of that comes from a sale in an enterprise which helps athletics departments in their day-to-day tasks, such as scheduling and official assignments.
Division I members received $560.3 million in distributions for the NCAA's biggest expense.
The NCAA gets the majority of its revenue from two sources: The Division I Men's Basketball Championship, along with marketing rights and championship tickets sales.
The tournament television rights brought in $821.4 million and the tickets sales brought in almost $130 million.
In 2016, the NCAA extended its tournament deal with CBS and Turner through 2032 for $8.8 billion.