And USOC paid its senior staff handsomely. A dozen of its top executives made $250,000 or more in 2012, and its CEO, Scott Blackmun, received $965,000. After all that, it still had nearly $100 million in surplus revenue.
To be fair, USOC isn’t the only sports behemoth to enjoy tax-exempt status. The National Football League, the National Hockey League, the Professional Golfers Association, and other big-bucks professional sports leagues are also tax-exempt–though under a different code subsection than USOC. Last year, Sen. Tom Coburn (R-OK) introduced a bill to take away the tax-exemption for the pro outfits. It has gone nowhere.
A Random Photo