JAAA revenue takes a dip in 2010
Thursday, 23 December 2010 09:54
By Anthony Foster
Jamaica’s track & field governing body has earned far less money, in the year ending September 30, 2010 than they did in 2009.
A look at the association’s financial statement by trackalerts.com revealed the figures.
In the year ended September 30, the JAAA had an income of $95, 143, 573, almost $13 million less than they received in 2009, the World Championship year.
This was mainly because grants from IAAF and NACAC were over $3 million less than the previous year.
The JAAA made $2.1 million from gate/programme receipts from the Jamaica Championships, $6 million less than the previous year.
Unlike 2009 figure of $2.2 million for Broadcast rights, this year ended with zero income, likewise the fundraising dinner, which brought in almost $1 million in 2009.
Sponsorship money from other sponsors were also less, amounting over $4 million less than in 2009. Gear sponsor Puma, however, dished out almost $7 million over what was given the previous year.
The JAAA assets, mainly property, plant and equipment, are set to be valued at just over $63.3 million.
So at the end of the financial year, the JAAA has a net surplus of just over $3.1 million, more than $1.7 million less than they ended the 2009 financial year.
*Editor’s note: The US exchange rate is $85.20