NCAA mulls tapping into $180 million endowment fund

NCAA mulls tapping into $180 million endowment fund

The NCAA is discussing the future of a nearly $180 million endowment fund, including the possibility of distributing some of the money to member schools as athletic departments continue struggling with the economic downturn.
The fund has been designated as a quasi-endowment, which means it is intended to be retained and invested; unlike a permanent endowment, however, its principal can be spent. It is by far the largest of a dozen funds in which the NCAA, a non-profit organization, is holding more than $350 million in unrestricted net assets, according to federal tax records and association documents.

USAToday.com
6/30/10