PAC-12 CONFERENCE

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1959

Legal Domicile

Principal Officer

TERESA GOULD

Phone

4155804200

Tax Period

2024-07-01 to 2025-06-30

PAC-12 CONFERENCE, founded in 1959, is a major nonprofit in the Recreation & Sports sector that reported $111.5M in total revenue in fiscal year 2024. Revenue fell 80% from the prior year — a significant decline worth monitoring. Expenses of $133.2M exceeded revenue, resulting in a 19% operating deficit.

Mission

TO EMPHASIZE THE WELFARE OF THE STUDENT-ATHLETE THROUGHOUT THE ENTERPRISE AND ENCOURAGE EACH PARTICIPANT IN A CONFERENCE PROGRAM TO ACQUIRE A BACCALAUREATE DEGREE AND THE SKILLS NECESSARY TO FUNCTION AS A PRODUCTIVE MEMBER OF SOCIETY. TO MAXIMIZE THE VALUE OF CONFERENCE AFFILIATION FOR ALL MEMBER INSTITUTIONS IN A MANNER CONSISTENT WITH THE CONFERENCE'S VALUES WHILE MAINTAINING A POSITION OF NATIONAL LEADERSHIP IN THE CONDUCT OF INTERCOLLEGIATE ATHLETICS. TO ADHERE TO THE HIGHEST STANDARDS OF HIGHER EDUCATION, ACADEMIC ACHIEVEMENT, ETHICAL CONDUCT, SPORTSMANSHIP, AND A COMMITMENT TO GENDER EQUITY AND ETHNIC DIVERSITY. TO SUSTAIN THE CONFERENCE'S UNPARALLELED RECORD OF ATHLETIC EXCELLENCE. TO ASSURE EACH MEMBER INSTITUTION'S COMMITMENT TO THE CONFERENCE'S VALUES, AND, IN SO DOING, FOSTER COLLEGIAL RELATIONSHIPS AMONG MEMBERS TO MANAGE THE TENSIONS THAT FREQUENTLY SURFACE IN THE COMPETITIVE ENVIRONMENT.

Program Service Accomplishments

Program 1

Expenses: $110,590,582 Revenue: $107,300,239

THE PAC-12 CONFERENCE ADMINISTERS PROGRAMS FOR AND SERVES ITS MEMBER INSTITUTIONS; COORDINATES REVENUES RECEIVED FROM TELEVISION CONTRACTS, POSTSEASON BOWL AGREEMENTS, BASKETBALL TOURNAMENTS...

THE PAC-12 CONFERENCE ADMINISTERS PROGRAMS FOR AND SERVES ITS MEMBER INSTITUTIONS; COORDINATES REVENUES RECEIVED FROM TELEVISION CONTRACTS, POSTSEASON BOWL AGREEMENTS, BASKETBALL TOURNAMENTS, AFFILIATE REVENUE, ADVERTISING & SPONSORSHIPS; AND DETERMINES DISTRIBUTIONS TO MEMBER INSTITUTIONS TO FUND ATHLETIC PROGRAMS FOR THE BENEFIT OF STUDENT-ATHLETES. ADDITIONALLY, THE CONFERENCE RECEIVES AND ADMINISTERS AN NCAA GRANT RESTRICTED TO IMPROVING OFFICIATING PROGRAMS, ENHANCING ENFORCEMENT AND COMPLIANCE OF NCAA RULES AND REGULATIONS AND ENHANCING OPPORTUNITIES FOR WOMEN AND MINORITY ADMINISTRATORS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $111,233,723

Investment Income $289,407

Other Revenue $0

TOTAL REVENUE $111,523,130

Expense Breakdown

Grants Paid $58,522,466

Salaries & Benefits $12,598,980

Fundraising Expenses $0

Program Expenses $110,590,582

Other Expenses $62,072,696

TOTAL EXPENSES $133,194,142

Year-over-Year Comparison

	2024	2023	Change
Revenue	$111,523,130	$566,633,186	-0.8%
Expenses	$133,194,142	$543,449,567	-0.8%
Net Income	$-21,671,012	$23,183,619	-1.9%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✓ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

N/A

Employees

211

Volunteers

N/A

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✓ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$4,048,174

Total Directors

$1,842,418

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KIRK SCHULZ	CHAIR	1.00	Officer Director	$0	$48,390	$1,033,276
JAYATHI Y MURTHY	DIRECTOR	1.00	Director	$0	$108,142	$809,142
TERESA GOULD	COMMISSIONER	40.00	Officer	$1,361,901	$154,142	$1,516,043
QUASHAN LOCKETT	COO/TREASURER	40.00	Officer	$686,667	$118,718	$805,385
SCOTT PETERSMEYER	CHIEF LEGAL OFFICER	40.00	Officer	$591,423	$102,047	$693,470
LAWRENCE MEYERS	EXECUTIVE VP, CONTENT	40.00	Highest	$717,463	$46,520	$763,983
RYAN CURRIER	EXECUTIVE VP, PAC-12 NETWORKS	40.00	Highest	$647,208	$64,971	$712,179
ERIK HARDENBERGH	SENIOR VP OF STRATEGY	40.00	Highest	$617,754	$66,167	$683,921
MERTON HANKS - EXECUTIVE ASSOC	COMMISSIONER, FOOTBALL OPERATIONS	40.00	Highest	$525,085	$98,330	$623,415
ASHLEY COAKLEY	ON-AIR HOST/SENIOR FEATURE PRODUCER	40.00	Highest	$498,236	$18,300	$516,536
GEORGE KLIAVKOFF	FORMER COMMISSIONER	40.00		$6,132,545	$9,865	$6,142,410
STEVE TSENG	FORMER EXECUTIVE VP, SALES	40.00		$550,312	$29,837	$580,149

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$111,523,130	$133,194,142	$65,772,776	$-21,671,012
2024	No data	No data	No data	No data
2023	$603,853,510	$543,915,959	$158,066,674	$59,937,551
2023	$603,853,510	$541,511,405	$117,636,208	$62,342,105
2022	$580,895,804	$562,383,752	$119,319,164	$18,512,052
2021	$343,514,218	$337,178,997	$140,729,496	$6,335,221
2020	$533,787,888	$532,386,835	$100,696,130	$1,401,053
2019	$530,353,609	$518,853,650	$103,442,020	$11,499,959
2018	$496,930,601	$494,502,330	$114,908,092	$2,428,271