benefits). Place any payment made to previous coaches to satisfy a contractual agreement for coaching in Category 23 (Severance Payments). 23 Coaching Include all compensation Input compensation, Not applicable to most Salaries, paid to the coaching bonuses and benefits paid schools, most have all Benefits and by a third party and to all coaches by a third compensation Bonuses paid contractually guaranteed party and contractually reflected on schools by a Third by the institution, but not guaranteed by the W-2. However, VT Party included on the institution, but not indicated third-party institution’s W-2 (e.g., car included on the institutions contract with coaches. stipend, country club W-2 including: membership, Example: NIKE pays entertainment allowance, Car stipend. coach directly, not • clothing allowance, Country club through school. • speaking fees, housing membership. allowance, compensation Allowances for clothing, • from camps, radio housing, entertainment. income, television Speaking fees. • income, shoe and apparel Camps compensation. • income). Expense Media income. • Categories 20 and 22 Shoe and apparel income. • combined should equal Revenue Category 5 Expense Category 23 and (Compensation and 25 should equal Category Benefits Provided by a 10. Third Party). Note: Bonuses related to participation in a bowl game should be included in Category 41. 24 Support Staff/ Include gross salaries, Input compensation, Only exception is for Administrative bonuses and benefits paid bonuses and benefits paid any salaries/benefits Compensation, to administrative staff to all administrative and related to spirit Benefits and (i.e., football secretary, support staff reportable on groups. ALL expenses Bonuses paid sport-specific trainer) that the university or related related to spirit groups by the would be reportable on entities (e.g. foundations or should be included on University and university and related booster clubs) W-2 and line 33 Related entities (e.g., foundations, 1099 forms inclusive of:
benefits). Place any payment made to previous coaches to satisfy a contractual agreement for coaching in Category 23 (Severance Payments). 23 Coaching Salaries, Benefits and Bonuses paid by a Third Party Include all compensation paid to the coaching by a third party and contractually guaranteed by the institution, but not included on the institution’s W-2 (e.g., car stipend, country club membership, entertainment allowance, clothing allowance, speaking fees, housing allowance, compensation from camps, radio income, television income, shoe and apparel income). Expense Categories 20 and 22 combined should equal Revenue Category 5 (Compensation and Benefits Provided by a Third Party). Input compensation, bonuses and benefits paid to all coaches by a third party and contractually guaranteed by the institution, but not included on the institutions W-2 including: • Car stipend. • Country club membership. • Allowances for clothing, housing, entertainment. • Speaking fees. • Camps compensation. • Media income. • Shoe and apparel income. Expense Category 23 and 25 should equal Category 10. Note: Bonuses related to participation in a bowl game should be included in Category 41. Not applicable to most schools, most have all compensation reflected on schools W-2. However, VT indicated third-party contract with coaches. Example: NIKE pays coach directly, not through school. 24 Support Staff/ Administrative Compensation, Benefits and Bonuses paid by the University and Related Include gross salaries, bonuses and benefits paid to administrative staff (i.e., football secretary, sport-specific trainer) that would be reportable on university and related entities (e.g., foundations, Input compensation, bonuses and benefits paid to all administrative and support staff reportable on the university or related entities (e.g. foundations or booster clubs) W-2 and 1099 forms inclusive of: Only exception is for any salaries/benefits related to spirit groups. ALL expenses related to spirit groups should be included on line 33
NCAA%20Financial%20Reporting%20Guidance%202017.docx