Texags received 1.1 million dollars from the 12th man foundation. No wonder Billy reports everything is sunshine and roses in the Aggie sports departments. It seems to me that @immamac is overlooking a potential revenue source.
"The 12th Man Foundation, Texas A&M’s athletic fundraising arm, saw its annual revenue drop by more than $25 million from fiscal year 2023 to 2024—just as it assumed the hefty financial burden of helping cover former Aggies football coach Jimbo Fisher’s massive buyout.
According to a copy of the organization’s latest tax return, obtained by Sportico, the 12th Man Foundation reported bringing in $95.7 million in FY24, set off against $116 million in expenditures. It brought in $121 million in total revenue for FY23, according to its previous IRS filings.
The latest returns show the foundation’s overall reported shortfall owed primarily to a decrease in contributions and grants, which went from $113 million in FY23 to $85 million in FY24.
During that same span, Texas A&M’s athletic department expenditures jumped nearly $50 million, according to the school’s NCAA financial disclosures, from $194.6 million in FY23 to $243.8 million in FY24—the fourth-highest increase among FBS public universities.
A 12th Man Foundation spokesperson did not respond to an email inquiry.
In addition to supplementing the Aggies’ athletics department with tens of millions of dollars to fund scholarships, programs and facilities, the 12th Man is also partially on the hook for paying former football coach Fisher’s record-setting, $77 million buyout after he was fired in November 2023 with eight years left on his deal.
Through the fiscal year 2024, Fisher was due $26.7 million of the liquidated damages. Texas A&M athletic director Ross Bjork previously said that the 12th Man Foundation would apply unrestricted funds to cover the initial $19.4 million Fisher was due within 60 days of his firing. That payout is not individually identified on the return.
The 12th Man Foundation ended the past fiscal year with $216 million in net assets or fund balances, according to its tax return, down from $231.3 million at the start of the cycle. The organization’s president and CEO, Travis Dabney, earned a total compensation package of $552,610, as the 12th Man saw its overall salaries jump nearly 13% to $7.37 million. Leading the list of 13 independent contractors paid six figures or more was Maroon & White LP—the parent company of the online fan forum TexAgs.com—which received $1.1 million for “external marketing services.” The law firm Norton Rose Fulbright followed with $674,444.