USOC makes $270 million for Winter-Olympic-year record
DENVER (AP) The U.S. Olympic Committee brought in $270 million in 2014, surpassing the previous high mark for a Winter Olympics year by $29 million thanks in part to an increase in licensing income.
The federation released its 2014 tax forms Friday, including salaries of its highest-paid employees. CEO Scott Blackmun made $1 million, nearly $450,000 of which came in bonus pay. As a sign of the USOC's increasing stability, this also marked the third year since 2011 that the federation hasn't had to pay severance to ex-employees.
The USOC spent about $144 million on direct support to athletes and national governing bodies, a 25 percent increase over 2010 - the last Winter Olympics year.
Among the sports federations receiving the largest USOC grants were the U.S. Ski and Snowboard Association, which got $4.56 million, and USA Track and Field, which received $2.9 million. Those large sports traditionally produce the most Olympic medals for the United States.
Other items in the 2014 tax form:
-The athlete performance pool, which supports athlete training, received $12.2 million, down $500,000 from the previous year.
-The USOC increased funding into the athlete insurance program from $6.16 million to $7.93 million.
-Total expenses rose from $195 million to $222 million, mainly because expenses rise during an Olympic year.
-The USOC spent about $3.6 million on Paralympic programming, a 36 percent increase since 2010.
On the Web: http://www.teamusa.org/footer/finance .