CAA at a Glance — FY2024–25
Source: IRS Form 990, tax year 07/01/2024–06/30/2025 · Prepared by Data Driven HBCU · April 2026
Total Revenue
$10.1M
Third largest in cohort
Net Position
−$731K
Running a deficit
NCAA Distributions to Schools
$5.6M
Pass-through only
Multimedia Revenue Distributed
$0
$2.47M retained by conference
Avg Distribution / School
~$430K
NCAA pass-through only
HBCU Members
2 of 13
Hampton University · NC A&T
Critical Note for HBCU Members: The CAA does NOT distribute its multimedia contract revenue ($2,474,992) to member schools. Hampton University and NC A&T receive only NCAA pass-through distributions from the CAA — confirmed by MFRS data. Media deal revenue stays at the conference level.
Conference Profile
About the CAA: The Coastal Athletic Association is a 13-member multi-sport conference that includes two HBCU members — Hampton University and NC A&T. The CAA generated $10.1M in revenue but ran a $731K deficit in FY2024–25. The conference holds a multimedia rights contract that generated $2.47M — however, this revenue is retained entirely by the conference and is not distributed to member schools. Member schools, including the two HBCU members, receive only NCAA pass-through distributions averaging ~$430K per school.
Member Schools
| School | State | HBCU | Football |
|---|---|---|---|
| Hampton University | VA | Yes | Yes (CAA Football) |
| NC A&T State University | NC | Yes | Yes (CAA Football) |
| Campbell University | NC | No | Yes |
| Charleston Southern University | SC | No | Yes |
| College of Charleston | SC | No | No |
| Delaware | DE | No | Yes |
| Drexel University | PA | No | No |
| Hofstra University | NY | No | No |
| Monmouth University | NJ | No | Yes |
| Northeastern University | MA | No | No |
| Stony Brook University | NY | No | Yes |
| Towson University | MD | No | Yes |
| William & Mary | VA | No | Yes |
| 13 member schools · 2 HBCUs (Hampton, NC A&T) · Football members also in CAA Football (separate 990) | |||
Revenue Sources — FY2024–25
How the CAA generates revenue · Source: IRS Form 990, Part VIII
Total Revenue
$10,079,332
FY2024–25
Multimedia Contracts
$2,474,992
24.6% of total — retained by conference
NCAA Grants / Pass-Through
$3,535,193
35.1% of total revenue
Tournament Revenue
$2,359,649
23.4% — highest in cohort
Revenue by Source
Breakdown of all CAA revenue streams, FY2024–25
Revenue Sources — Dollar Amounts
Each category shown as a bar; multimedia revenue is retained — not distributed
| Revenue Source | Amount | % of Total | Distributed to Schools? |
|---|---|---|---|
| NCAA Grants & Pass-Through | $3,535,193 | 35.1% | Yes — passed through to members |
| Multimedia Contracts | $2,474,992 | 24.6% | No — retained by conference |
| Tournament / Championship | $2,359,649 | 23.4% | Supports conference operations |
| Membership Dues | $790,000 | 7.8% | Conference operations |
| Other Revenue | $919,498 | 9.1% | — |
| Total Revenue | $10,079,332 | 100% |
Multimedia Revenue Retention: The CAA's $2,474,992 in multimedia contract revenue is retained entirely for conference operations. No portion of this amount is distributed to member schools, including Hampton University or NC A&T. The 990 Schedule I shows member distributions consisting of NCAA pass-through funds only — no multimedia contract payments appear as disbursements to member schools. The only revenue that reaches member schools is the NCAA pass-through component.
Tournament Revenue: The CAA generated $2,359,649 in tournament/championship revenue — the highest of any conference in this cohort. This revenue supports conference operations but does not flow directly to member schools as individual distributions.
Member School Distributions — FY2024–25
What CAA schools receive · Source: IRS Form 990, Schedule I
Total Distributed
$5,586,118
To all 13 member schools
Average per School
~$429,701
NCAA pass-through only
Multimedia Revenue Distributed
$0
$2.47M retained by conference
Distribution % of Revenue
55.4%
Mostly NCAA pass-throughs
What Schools Receive vs. What the Conference Generates
Revenue sources and whether they flow to member schools
Distribution Structure: CAA members receive NCAA pass-through distributions only. The conference distributes $5.6M total — almost entirely composed of NCAA funds passing through the conference to member schools. The multimedia contract revenue ($2.47M) is retained for conference operations, advertising, technology, and competitive resources. Hampton and NC A&T, as HBCU members, follow the same distribution structure as all other CAA members.
MFRS Correlation: In Hampton's and NC A&T's MFRS filings, the "NCAA / Conference" line reflects the combined NCAA pass-through plus any direct NCAA funds flowing to those schools outside the conference. The CAA-specific conference distribution component is the NCAA pass-through portion only — the multimedia contract revenue is retained by the conference and does not appear as a payment to member schools in Schedule I.
What Each HBCU Member Receives from the CAA
| School | HBCU? | NCAA Pass-Through (est.) | Multimedia Revenue Share | Notes |
|---|---|---|---|---|
| Hampton University | Yes | ~$430K | $0 | Also receives CAA Football media distribution separately (~$45K est.) |
| NC A&T State University | Yes | ~$430K | $0 | Also receives CAA Football media distribution separately (~$45K est.) |
| Conference Average (all 13) | ~$429,701 | $0 | ||
Financial Health — FY2024–25
CAA revenue, expenses, and leadership · Source: IRS Form 990, FY2024–25
Total Revenue
$10,079,332
Total Expenses
$10,810,551
Net Position
−$731,219
Conference running a deficit
Commissioner Compensation
$337,255
Joseph D'Antonio
Revenue vs. Expenses
FY2024–25 — CAA running a deficit
Revenue Allocation
How CAA revenue is used — distributions vs. operations
| Line Item | Amount | % of Revenue |
|---|---|---|
| Total Revenue | $10,079,332 | 100% |
| Member School Distributions (NCAA Pass-Through) | $5,586,118 | 55.4% |
| Conference Operations (non-distribution expenses) | $5,224,433 | 51.8% |
| Commissioner Compensation | $337,255 | 3.3% |
| Net Position | −$731,219 | −7.3% |
Commissioner Note: Joseph D'Antonio serves as Commissioner of both the CAA (multi-sport) and CAA Football (a separate legal entity with EIN 42-1719463). His full compensation is paid by the main CAA. CAA Football reimburses the CAA for his time — the reimbursement is reflected in CAA Football's Schedule O and Part VII returns.
Deficit Context: The CAA's $731K deficit in FY2024–25 reflects conference operating expenses exceeding revenue in this period. The conference distributes $5.6M in NCAA pass-throughs while also funding its own operations on $10.1M in total revenue. Multimedia revenue ($2.47M) is being retained for operations rather than distributed, which helps offset the deficit but does not fully cover it.
Key Findings
Data Driven HBCU analysis · IRS Form 990, FY2024–25
Finding 1
The CAA has a $2.5M media deal — and its HBCU members receive none of it
The CAA generated $2,474,992 in multimedia contract revenue in FY2024–25. This revenue is retained entirely by the conference for operations. Hampton University and NC A&T — the conference's two HBCU members — receive no share of this. The CAA's 990 Schedule I shows member distributions consisting of NCAA pass-through funds only; no multimedia contract payments appear as distributions to member schools. Having a conference-level media deal does not guarantee that member schools benefit from it; distribution policy is what determines whether that revenue reaches the campus level.
Finding 2
CAA HBCU members receive the second-lowest average distributions in this cohort
The CAA's average distribution of ~$430K per school (NCAA pass-through only) is third from the bottom in this cohort — above only CAA Football (~$45K per school estimated conference distribution) and well below the SWAC (~$1.12M) and MEAC (~$499K). For Hampton and NC A&T, the CAA's multimedia contract revenue retention policy means total conference distributions are lower than what peer HBCU programs in the SWAC or MEAC receive — despite the CAA having a larger and more visible media contract. In all cases, conference distributions are recorded under the NCAA/Conference line on MFRS forms; neither Hampton nor NC A&T reports media rights revenue from conference distributions on their MFRS filings. (MEAC member schools do report media rights revenue on MFRS, but from institutional-level sources — not conference distributions.)
Finding 3
The CAA's tournament revenue is the strongest in this cohort — but stays at the conference level
The CAA generated $2,359,649 in tournament and championship revenue in FY2024–25 — the highest among the five conferences analyzed. This revenue supports conference operations and events. However, as with the multimedia contract, this revenue does not flow to member schools as individual distributions. The CAA's ability to generate significant tournament revenue reflects its competitive depth but provides limited direct benefit to individual member athletics budgets.
Finding 4
The CAA ran a deficit while retaining multimedia revenue — a structural tension
Despite retaining $2.47M in multimedia contract revenue, the CAA still ran a $731K deficit in FY2024–25. This means the conference's expenses exceed all of its revenue, including the multimedia deal. The structural tension is clear: the CAA is retaining media revenue to fund operations rather than passing it to schools, yet still cannot break even. If multimedia revenue were distributed to members instead, the deficit would grow to approximately $3.2M.
Finding 5
HBCU membership in the CAA is primarily a competitive — not a revenue — decision
Based on 990 data, HBCU membership in the CAA does not deliver a superior conference revenue package compared to HBCU-only conferences. Hampton and NC A&T receive approximately the same as any other CAA member (~$430K) — the NCAA pass-through — without benefit from the multimedia contract. The competitive and branding advantages of CAA membership are evident, but the financial case based on conference distributions alone is not stronger than what peer HBCU programs receive from SWAC or MEAC affiliation.
Research Verdict
The CAA presents a case study in the difference between a conference's total revenue and what member schools actually receive. With $10.1M in revenue — including a $2.47M multimedia contract and $2.36M in tournament revenue — the CAA retains a significant portion for conference operations. HBCU members Hampton and NC A&T receive only the NCAA pass-through (~$430K average), with none of the multimedia deal flowing to schools. The conference ran a $731K deficit in FY2024–25, raising questions about the sustainability of retaining media revenue for operations while running shortfalls. For HBCU programs evaluating conference membership on financial grounds, the CAA's retention policy is a key variable in the equation.