Page 24 - 2020 IHSAA Annual Report

Financial Review

The Indiana High School Athletic Association, to COVID-19. While tournament revenue
Inc. is a private non-for-profit 501(c)(3) distributions to IHSAA member-schools
corporation that receives no federal, state or dropped slightly over 10% from 2018-19
local funding to augment its operation. The totals, tournament revenue retained by the
IHSAA garners revenue from the proceeds Association dropped by over 30% in 2019-20.
of ticket sales during state championship tour- The Association was once again augmented
nament series events, the licensure of nearly by the strong support of our corporate
8,000 contest officials, media rights fees, partners and sponsors during the difficulties
investment income and corporate partner- of 2020. Every corporate partner and sponsor
ships. Annually, the accounting firm of Petrow met their obligations and promises to the
Leemhuis Vincent and Kane perform an audit IHSAA, and for their steadfast commitment
of the Corporation’s finances and prepares and to education-based athletics in our state,
files appropriate tax forms for the Association. we offer our sincere thanks and gratitude.
These processes are completed during the Additionally, to make up for the shortfall
months of September and October each year. of revenue, the Association successfully
obtained a Payroll Protection Program (PPP)
In 2019-20, the IHSAA returned over $2.28 loan to continue payment to Association
million to member-schools from tournament employees and building utilities. Furthermore,
series events in the form of reimbursements the Association was able to secure a loan to
and stipends while retaining $1.67 million to meet ongoing expenses during the 2019-20
sustain services provided to the membership. fiscal year rather than liquidate investments
The significant drop in Association revenue during a downtrend in the marketplace.
was due to the cancellation of the boys
basketball tournament beyond the sectional
level and the cancellation of all IHSAA spring
sport tournament series events related

2019–20 DISTRIBUTION OF REVENUE

RETURNED TO MEMBER-SCHOOLS $2.28 Million
RETAINED BY IHSAA $1.67 Million

REVENUE RETURNED TO MEMBER-SCHOOLS

2018–19 $2.56 Million
2019–20 $2.28 Million

10.94% DECREASE

REVENUE RETAINED BY THE IHSAA
2018–19 $2.40 Million

2019–20 $1.67 Million

30.42% DECREASE
Attendance was up in many sports in 2019-20,
including the IHSAA State Wrestling Tournament.

24 INDIANA HIGH S CHOOL A THLE TIC ASS OCIATION Annual Report 2020