OVC 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
$11.8M
Fourth in cohort
Net Position
−$4.3M
Largest deficit in cohort
Institutional Grants to Schools
$1.7M
Athletic Competition Grants
TSU Received
$196K
Tennessee State University
TV Revenue Distributed
$0
$873K retained for operations
HBCU Members
1 of 11
Tennessee State University
OVC Running Largest Deficit in Cohort: The OVC spent $4.3M more than it generated in FY2024–25. The conference is operating under acting leadership and retains rather than distributes its TV revenue. Tennessee State — the conference's only HBCU member — received $196,468 in institutional grants, a fraction of what SWAC and MEAC peers receive.
Conference Profile
About the OVC: The Ohio Valley Conference is an 11-member conference with one HBCU member — Tennessee State University. The OVC retains its TV contract fees ($873K) for conference operations rather than distributing them to member schools. Institutional distributions ($1.69M total) are structured as per-school "Athletic Competition" grants based on sports sponsorship level. The OVC also passes through $8.8M in NCAA funds directly to student-athletes across four fund categories. The conference ran a $4.3M deficit in FY2024–25 and is in a leadership transition.
Member Schools
| School | State | HBCU | Institutional Grant (FY2025) |
|---|---|---|---|
| Tennessee State University | TN | Yes | $196,468 |
| Tennessee Tech University | TN | No | $236,468 |
| SIUE (Southern Illinois–Edwardsville) | IL | No | $236,468 |
| Eastern Illinois University | IL | No | $196,468 |
| Morehead State University | KY | No | $196,468 |
| SE Missouri State University | MO | No | $196,468 |
| UT Martin | TN | No | $196,468 |
| UALR (Arkansas–Little Rock) | AR | No | $58,400 |
| Lindenwood University | MO | No | $58,400 |
| USI (Southern Indiana) | IN | No | $58,400 |
| WIU (Western Illinois) | IL | No | $58,400 |
| Total Institutional Distributions | $1,688,876 | ||
Grant Tier Structure: Schools receiving $236,468 sponsor more sports and qualify for the higher-tier grant. Schools at $196,468 are the standard mid-tier. Schools at $58,400 (UALR, Lindenwood, USI, WIU) are newer or smaller-program members sponsoring fewer sports. Tennessee State is in the mid-tier ($196,468).
Revenue Sources — FY2024–25
How the OVC generates revenue · Source: IRS Form 990, Part VIII
Total Revenue
$11,813,349
FY2024–25
NCAA Grants / Pass-Through
$2,849,405
24.1% of total
Other Revenue
$7,246,526
61.3% of total — includes SAOF
TV Contract Fees
$872,656
Retained — not distributed
Revenue by Source
Breakdown of OVC revenue streams, FY2024–25
Revenue Sources — Dollar Amounts
Each revenue category; TV fees retained for operations
| Revenue Source | Amount | % of Total | Distributed to Schools? |
|---|---|---|---|
| Other Revenue (incl. SAOF pass-throughs) | $7,246,526 | 61.3% | NCAA funds to student-athletes directly |
| NCAA Grants & Pass-Through | $2,849,405 | 24.1% | Partially — Athletic Competition Grants |
| TV Contract Fees | $872,656 | 7.4% | No — retained for operations |
| Tournament / Championship | $301,271 | 2.5% | Conference operations |
| Membership Dues | $467,000 | 4.0% | Conference operations |
| Sponsorships | $76,491 | 0.6% | — |
| Total Revenue | $11,813,349 | 100% |
TV Contract Fee Retention: The OVC generated $872,656 in television contract fees in FY2024–25. This revenue is retained for conference operations — it does not appear as a disbursement to member schools in the 990. Tennessee State receives no share of these fees. This is the same retention approach as the main CAA (which retains its multimedia contract revenue), and contrasts with the SWAC (which pools TV/media revenue into member distributions) and CAA Football (which distributes the majority of its FloSports Rights Fees to member schools).
Member School Distributions — FY2024–25
What OVC schools receive · Source: IRS Form 990, Schedule I
Institutional Grants Total
$1,688,876
Athletic Competition Grants to 11 schools
TSU (Tennessee State)
$196,468
Mid-tier grant amount
NCAA Student-Athlete Funds
$8.8M
Directly to athletes — not institutions
TV Revenue to Schools
$0
Retained by conference
Per-School Institutional Grant Distribution
Athletic Competition Grant amounts by school, FY2024–25 (from Schedule I)
Distribution Structure: The OVC distributes institutional grants based on sports sponsorship level. Schools that sponsor more sports receive proportionally larger grants. The three tiers are: $236,468 (high-tier: Tennessee Tech, SIUE), $196,468 (mid-tier: Tennessee State, Eastern Illinois, Morehead State, SE Missouri, UT Martin), and $58,400 (lower-tier: UALR, Lindenwood, USI, Western Illinois — newer/smaller-program members).
NCAA Student-Athlete Funds ($8,798,615): The OVC also distributed $8.8M in NCAA funds directly to student-athletes across four fund categories: Special Assistance Fund ($4,685,142), Academic Enhancement ($1,727,652), Grants in Aid ($1,453,448), and Sports Sponsorship ($932,373). These funds flow to individual student-athletes — not to athletic departments. They are separate from, and much larger than, the institutional grants shown above.
Tennessee State University's OVC Revenue Picture
| Revenue Type | Amount | Source | Notes |
|---|---|---|---|
| Institutional Athletic Competition Grant | $196,468 | OVC 990, Schedule I | Mid-tier sports sponsorship level |
| OVC TV Contract Share | $0 | — | TV fees retained by conference |
| Total from OVC to TSU (institutional) | $196,468 | Lowest in cohort among HBCU conference relationships | |
Context: TSU's $196,468 from the OVC compares to an average SWAC distribution of ~$1.12M, a MEAC average of ~$499K, and a CAA average of ~$430K. The OVC's institutional grant to TSU is the smallest per-school distribution received by any HBCU in this analysis.
Financial Health — FY2024–25
OVC revenue, expenses, and leadership · Source: IRS Form 990, FY2024–25
Total Revenue
$11,813,349
Total Expenses
$16,118,510
Net Position
−$4,305,161
Largest deficit in cohort
Acting Leadership Compensation
$316,010
Beth DeBauche (base salary)
Revenue vs. Expenses
FY2024–25 — OVC running a $4.3M deficit
Revenue Allocation
How OVC revenue (and reserves) are being used
| Line Item | Amount | % of Revenue |
|---|---|---|
| Total Revenue | $11,813,349 | 100% |
| NCAA Student-Athlete Distributions (SAOF etc.) | $8,798,615 | 74.5% |
| Institutional Athletic Competition Grants | $1,688,876 | 14.3% |
| Conference Operations (non-distribution) | $5,630,019 | 47.7% |
| Acting Commissioner Compensation (base) | $316,010 | 2.7% |
| Net Position | −$4,305,161 | −36.4% |
Deficit Context: The OVC's $4.3M deficit is the largest in this cohort. The gap is driven largely by distributing $8.8M in NCAA student-athlete funds and $1.7M in institutional grants while generating $11.8M in revenue — with the balance consumed by conference operations. The conference is operating under acting leadership following a commissioner transition, and retains TV fees for operations rather than distributing them. If the deficit persists, distributions available to member schools including TSU may be at risk in future years.
Key Findings
Data Driven HBCU analysis · IRS Form 990, FY2024–25
Finding 1
Tennessee State received the smallest institutional distribution of any HBCU in this analysis
TSU's $196,468 from the OVC is the lowest per-school institutional distribution among the HBCU conference relationships examined. SWAC peers average ~$1.12M. MEAC peers average ~$499K. CAA HBCU members receive ~$430K. TSU's OVC grant is roughly $300K less than what a typical CAA HBCU member receives, and approximately $920K less than a typical SWAC school. For an athletic department already operating on tight margins, this revenue gap is structurally significant.
Finding 2
The OVC retains its TV contract fees for operations — TSU receives none of this revenue
The OVC generated $872,656 in television contract fees in FY2024–25. This revenue was retained for conference operations — it does not appear as a disbursement to member schools in the 990. Tennessee State received $0 of it. By contrast, the SWAC pools its TV/media revenue into the overall member distribution rather than retaining it, resulting in significantly higher per-school distribution amounts. Whether a conference retains or pools its TV contract revenue is one of the most consequential financial differentiators between conferences for HBCU athletic programs.
Finding 3
The OVC's $4.3M deficit is the largest in this cohort — and it's structural, not just a one-year anomaly
The OVC spent $4.3M more than it generated in FY2024–25 while also distributing $8.8M in NCAA student-athlete funds and $1.7M in institutional grants. The combined distribution and operations footprint significantly exceeds the conference's revenue base. The conference is also in a leadership transition, operating under acting leadership. These factors — deficit, leadership transition, TV revenue retention, and the smallest per-school distributions in the cohort — create a risk picture for TSU's conference revenue stream.
Finding 4
The OVC's $8.8M in NCAA student-athlete funds dwarfs its institutional grants
The OVC distributed $8,798,615 in NCAA funds directly to student-athletes — more than five times the $1,688,876 it distributed to institutions. These funds cover student assistance, academic enhancement, grants-in-aid, and sports sponsorship. They flow to individual athletes and are not reflected in athletic department operating budgets. This creates a situation where the conference distributes a large total dollar amount but most of it bypasses the institutional level entirely. The institutional grants to schools — including TSU's $196,468 — are the relevant figure for athletic department revenue analysis.
Finding 5
TSU's position in the OVC raises a long-term strategic question
Tennessee State is the only HBCU in an 11-member conference that is running a $4.3M deficit, retaining its TV revenue, distributing among the lowest institutional grants in this cohort, and operating under acting leadership. The financial case for OVC membership — from a conference revenue standpoint — is the weakest of any HBCU-conference relationship analyzed. TSU's athletic program must generate the revenue gap between what it receives from the OVC and what peer HBCU programs in the SWAC or MEAC receive from their conferences through other means, including state appropriations and institutional support.
Research Verdict
The OVC is under measurable financial and structural stress — $4.3M deficit, acting leadership, TV revenue retention, and the lowest per-school institutional grants of any conference in this analysis. For Tennessee State, the financial picture from OVC membership is the weakest in this cohort. TSU receives $196,468 in institutional grants and $0 of the conference's TV contract revenue. The OVC's large student-athlete fund pass-throughs ($8.8M) are significant but do not reach athletic department operating budgets in the same way institutional distributions do. Whether the OVC's financial position stabilizes under permanent leadership — and whether that changes the distribution model — is a key variable for TSU's athletic revenue outlook.