Page 21 - 2021 IHSAA Annual Report

FINANCIAL REPOR T

FINANCIAL Though we willingly operated at a deficit, athletics aim to teach student-athletes—

this decision was not made on impulse but,
dedication and commitment are of note here.
instead, through reason. We as an association
For that, we offer our sincere thanks and
exist to serve our member-schools—therefore,
we must do everything in our power to keep gratitude to our corporate friends for their
unwavering support.
member-schools whole. In hindsight, it's an understatement to say
REPORT We believe we did what any good leader would that navigating the financial complexities of
do for their teammates in times of adversity.
the pandemic year was trying. But it wasn't
Furthermore, a good leader recognizes
without a silver lining. The pandemic provided
everyone's contribution to the team's
triumphs. Put simply: it would have been near the Association an opportunity to overcome
hardship. In that process, the IHSAA built
impossible to remain whole without the help confidence in its ability to find ways to operate
of our corporate partners. more efficiently. In sports terminology, it's the
idea of getting better every single day. And we
Many of our corporate partners were will continue to do that in the future as we find
confronted with the same fiscal challenges ways to operate more efficiently from a fiscal
we were. However, every partner met their standpoint—just not at the expense of our
promise to the IHSAA. These organizations member-schools and student-athletes.
embody the exact values education-based

“the Association is a private not-for-profit

501(c)(3) corporation that receives no federal,

state, or local funding for its operations.”
The IHSAA Has Always Put In 2020-21, fan attendance was extremely
Member-Schools First: limited throughout the fall and winter sports
2020-21 Was No Exception tournaments. Still, the IHSAA returned
over $1.3 million to member-schools while
COVID-19 posed unique challenges to us as retaining $1.1 million for its operations. In our state, the IHSAA pioneered hosting big events safely during the pandemic. Fans are seen here lining
individuals. For businesses, corporations, The revenue returned to member-schools up to get into the boys basketball state finals at Bankers Life Fieldhouse. Safety protocols included mask
and organizations—including your local high was less than the previous year. However, the mandates, limited crowds, and digital tickets.
school—the pandemic presented challenges of IHSAA kept less money to operate on than it
a different variation. At the top of the list for did the year prior.
many was financial solvency.
In a conscious effort to avoid additional
While the Indiana High School Athletic financial burdens on member-schools, the
Association, Inc. serves many publicly funded Association elected to maintain tournament
educational institutions, the Association income, reimbursements for tournament
itself is a private not-for-profit 501(c)(3) host expenses, and the cost of tournament
corporation that receives no federal, state, or participation. As a means of fulfilling its
local funding for its operations. Therefore, obligation, the Association reduced day-to-day
ticket sale proceeds from state championship operating expenses significantly and secured a
tournament events, the licensure of nearly line of credit to meet anticipated costs for the
8,000 contest officials, media rights fees, and 2020-21 fiscal year.
corporate partnerships are the Association's
sources of revenue.

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