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AS A MISSION-DRIVEN NONPROFIT ORGANIZATION THAT DOES NOT RECEIVE GOVERNMENT FUNDING, THE USOPC TAKES A RESPONSIBLE APPROACH TO STEWARDING OUR RESOURCES IN SUPPORT OF TEAM USA ATHLETES. THE USOPC IS COMMITTED TO FISCAL RESPONSIBILITY AND FINANCIAL TRANSPARENCY TO ENSURE OUR STAKEHOLDERS UNDERSTAND HOW OUR RESOURCES ARE INVESTED. OUR PRIMARY PURPOSE IS TO SUPPORT ATHLETES — THROUGH DIRECT FUNDS OR PROGRAMS THAT SUPPORT THEM — WHILE ENSURING THE HEALTH AND SUSTAINABILITY OF THE U.S. OLYMPIC AND PARALYMPIC MOVEMENT.
The Olympic and Paralympic Games-year operating surplus allows the USOPC to run a deficit in non-Games years and provides a consistent level of support for athletes during each year of the four-year quadrennial budget cycle. Under that cycle, both revenue and expenses, which have a direct impact on supporting Team USA athletes, generally increase in Games years versus non-Games years.
The USOPC and U.S. Olympic & Paralympic Foundation’s consolidated financial statements and Forms 990s show revenue of approximately $459 million and expenses of $346 million, resulting in a surplus of $113 million for 2021, offsetting two non-Games years of deficits totaling $94 million.
Athlete excellence programs accounted for almost 60% of all USOPC spending for the year at over $200 million. This included athlete stipends and funding for Performance Partnership Agreements with National Governing Bodies and Paralympic Sport Organizations that support elite athlete training through world-class coaching, sports science and technology and medical support; athlete services in the areas of mental health, career and education, legal aid and marketing and commercial rights; and expenses related to the Olympic and Paralympic Games Tokyo 2020 and training environments.
Sport advancement funding of nearly $43 million represents an increase in programs focused on promoting an inclusive, safe and fair culture by advancing athletes’ safety, opportunity, access and representation across the U.S. Olympic and Paralympic Movement.
Community growth investments of $26.5 million supported amplification of athlete stories, digital support of National Governing Bodies, international engagement and opportunities for athletes’ family and friends to connect through a first-of-its kind domestic Games experience amid the pandemic.
- USOPC distributed $110 million in high-performance grants going directly to athletes and National Governing Bodies.
- Of those grants, $17 million was distributed in the form of direct athlete stipends to 1,521 athletes.
- Team USA athletes also received $13.2 million in Operation Gold payments for medal performances at the Tokyo Games and other qualifying events.
- Additionally, USOPC partnered with Toyota to provide $1.3 million in special grants to 435 Paralympic athletes.
- In 2021, USOPC provided Elite Athlete Health Insurance coverage to 1,313 athletes in the amount of $10.5M, up from $9.6M in 2020.
- Additionally, 783 Team USA athletes utilized the USOPC’s National Medical Network for a value of $3.7M in medical services and care.
- USOPC support of the U.S. Center for SafeSport in 2021, grew to $20 million with $17.4 million provided by the USOPC and $2.6 million provided by NGBs.
- The U.S. Olympic & Paralympic Foundation generated a record $36 million in revenue contributions, despite a challenging environment.
- Due to the uncertainty of the Tokyo Games amid a global pandemic, the USOPC secured $133 million in financing to provide financial stability and ensure continued funding of key programs.
- In December, a global settlement was reached related to Larry Nassar and USA Gymnastics, resolving all abuse claims pursuant to USA Gymnastics bankruptcy proceeding and the joint plan of reorganization. USOPC’s $34 million contribution to this settlement is included in the $76.7 million total for supporting services expenses.
Support and Revenue
TOTAL SUPPORT AND REVENUE
TOTAL PROGRAM SERVICES
Program services as a % of total expense: 78%.
SUPPORT AND REVENUE
|Sponsorship and licensing||205,498|
|Other program revenue||1,625|
|Total support and revenue||459,257|
EXPENSES - PROGRAM SERVICES
|Total program services||269,209|
|Sales and marketing||9,416|
|General and administrative||56,808|
|Total supporting service||76,677|
|Change in net assets||113,371|
|Net assets, beginning of period||189,164|
|Net assets, end of period||302,535|
TOTAL PROGRAM SERVICES
|Cash and cash equivalents||288,617|
|Accounts receivables, net|
|Royalties and marks rights||19,118|
|Prepaid expenses and other assets||25,116|
|Investments held for deferred compensation arrangements||1,479|
|Land, buildings and equipment, net||54,103|
LIABILITIES AND NET ASSETS
|Accounts payable and accrued liabilities||69,395|
|Deferred compensation arrangements||1,479|
|Long-term notes payable||131,124|
|Total net assets||302,535|
|Total liabilities and net assets||535,822|
Note: This information is derived from out audited financial statements. For a complete version of our audited financial statements, including the independent auditor's opinion, please visit TeamUSA.org/finance