This is an extremely short post that I am making primarily to link a spreadsheet for revenues and expenses as it pertains specifically to football at the FCS level. I might have more to say about this topic later…or I might not.
I took the data from the U.S. Department of Education’s Equity in Athletics Data Analysis website, then consolidated it into a somewhat readable spreadsheet (I also added a column for Profit/Loss). I will note in advance that these numbers don’t necessarily mean a whole lot, because schools can use lots of different accounting tricks when it comes to determining revenues and expenses.
Here are the top 25 football revenue-producing FCS schools for the most recent reporting cycle (2018). Again, this is football revenues/expenses only:
| Institution | Revenues |
| James Madison | $ 10,649,299 |
| Montana State | $ 8,709,180 |
| Montana | $ 8,620,428 |
| Delaware | $ 8,313,306 |
| Fordham | $ 7,594,200 |
| Furman | $ 7,366,155 |
| William and Mary | $ 7,073,588 |
| Richmond | $ 7,031,345 |
| Lafayette | $ 6,840,900 |
| Villanova | $ 6,765,161 |
| Colgate | $ 6,743,022 |
| Eastern Washington | $ 6,739,277 |
| Alabama A & M | $ 6,471,494 |
| Bucknell | $ 6,192,470 |
| North Dakota State | $ 6,048,728 |
| Elon | $ 6,043,145 |
| Lehigh | $ 5,969,420 |
| Samford | $ 5,938,603 |
| UC Davis | $ 5,754,648 |
| The Citadel | $ 5,728,787 |
| North Carolina A & T | $ 5,609,344 |
| Holy Cross | $ 5,605,872 |
| Wofford | $ 5,529,094 |
| Sacramento State | $ 5,515,779 |
| Idaho | $ 5,515,778 |
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Sure, you probably have questions. Lafayette? Sure, that was the name of America’s favorite fighting Frenchman, but you don’t really associate “lots of football cash pouring into the program” with Lafayette College. Who knows, though.
Here is a link to the entire list. Note that only one school (Dayton) claimed more total expenses than revenues in this cycle.
FCS football-only revenues and expenses (2018)
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Spring football fever…catch it!
Filed under: Football | Tagged: Equity in Athletics, FCS |
The Sports Arsenal 
This is beyond meaningless. Most of the “revenue” for FCS schools is college contributions to offset the losses. Accounting rules for colleges require schools to offset the losses with contributions. Real revenue is a fraction of what you are showing for most schools.
Which schools pay their athletes a stipend?