USOPC 2019 Impact Report Shows Revenue Shortfalls, Program Funding Increase

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The United States Olympic and Paralympic Committee (USOPC) Monday released its 2019 Impact Report, formerly its annual report, detailing the organization’s financials.

The report was accompanied by a letter from USOPC CEO Sarah Hirshland and a sport-specific breakdown of expenditures, the Sport Benefit Statements.

Overall, USOPC 2019 Impact report showed revenue of the USOPC and U.S. Olympic and Paralympic Foundation was approximately $194 million, a decrease from $317 million from in 2018. That change is attributable largely to, the letter says, how TV and sponsorship revenues vary in non-Olympic years. The broadcast contract with NBC is a big driver.

Without an Olympics in 2019 to contest, the combined expenses dropped from $275 million in 2018 to $248 million. Of that expenditure, $111 million represents the investment in high performance programs. “Athlete and national governing bodies foundational programing” funding rose 28 percent from the previous year to more than $30 million.

The Sport Benefit Statements break down funding for each sport, which the USOPC is releasing as a nod toward increased transparency. Amounts reported on the USOPC Form 990s for aquatic sports are:

  • USA Swimming: $3,548,924 (pdf report)
  • USA Water Polo: $1,375,391 (pdf report)
  • USA Diving: $1,095,908 (pdf report)
  • USA Artistic Swimming: $195,941 (pdf report – reported on the Form 990 as “US Synchronized Swimming”)

From Hirshland’s letter with the USOPC 2019 Impact Report:

“Collectively, these documents show that 2019 was a year of remarkable progress in which we listened to our community, changed our culture and implemented a strategic plan that will allow us to better support, serve and partner with all the stakeholders that contribute to the Olympic and Paralympic movements.

“It was a year in which we made some of the most sweeping governance changes the USOPC has ever seen — not for the sake of change, but because we believe it will improve athlete well-being and develop a stronger system of accountability. We ended 2019 a very different organization — in culture, in mindset and in how we operate — and we are better positioned to steward the U.S. Olympic and Paralympic movements than we have ever been before.”

The letter went on to acknowledge the changes that have occurred in the Olympic landscape since the time covered by this funding, with the postponement of the 2020 Olympics Games due to the COVID-19 pandemic. The USOPC and its NGBs have intensified funding efforts to bridge shutdowns in competition and help get athletes through the additional year of training, sometimes with additional governmental assistance.

From the letter:

“We can look at 2019 and be proud of the work we completed, as well as the work we started—together, as we continually seek new ways of structuring and operating. As we face the realities of today and uncertainties of tomorrow, we can hold our head high with the knowledge that our focus on serving the remarkable athletes of Team USA will keep us on the right path—and our community will be stronger on account of our efforts.

“So, while circumstances have changed considerably over the past several months, I encourage you to review the documents and take pride in the great work done, and in knowing that we are collectively adapting this organization to serve against our mission—and be resilient in the face of adversity.”

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