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Highest 2022-23 Revenue By FCS School

Sam Herder by Sam Herder
June 14, 2023
UC Davis football

Leroy Yau/UC Davis Athletics

USA Today has released its annual NCAA Finances: Revenue and Expenses by School report, which includes 232 athletic departments.

Below are the FCS-level schools.

RELATED: 2022 Ticket Sales Leaders For FCS-Level Schools

Note: Not all FCS schools are included in USA Today’s report as private universities

% Allocated refers to allocated revenues from government and institution support and student fees

RankSchoolTotal Revenue% Allocated
1UC Davis$44,275,78280.14%
2Cal Poly$37,134,73773.64%
3Stony Brook$37,027,80885.56%
4Sacramento State$35,893,96084.24%
5New Hampshire$33,102,60572.97%
6Kennesaw State$32,970,44480.57%
7Rhode Island$31,993,51576.87%
8William & Mary$30,941,31054.75%
9North Dakota$30,859,87747.89%
10Missouri State$29,915,77261.31%
11Illinois State$29,899,83769.83%
12North Dakota State$29,295,44325.94%
13Montana$28,970,31234.65%
14Towson$28,568,90980.20%
15Albany$27,295,30677.85%
16Montana State$26,410,57545.33%
17Northern Arizona$25,750,57982.01%
18South Dakota State$25,570,54147.97%
19Maine$25,063,46176.80%
20Stephen F. Austin$23,217,37776.39%
21Idaho$23,013,22563.49%
22Northern Colorado$22,439,91661.28%
23South Dakota$22,184,26862.19%
24East Tennessee State$22,173,33363.31%
25Sam Houston State$21,690,53469.80%
26Chattanooga$21,051,12771.17%
27Jacksonville State$20,288,34276.55%
28Eastern Kentucky$19,440,01079.24%
29Lamar$18,882,23571.95%
30Southern Illinois$18,739,32459.19%
31Indiana State$18,656,22470.97%
32Murray State$18,597,75669.13%
33Tarleton State$18,308,48980.62%
34The Citadel$18,209,21759.61%
35Southern$18,190,79872.41%
36Youngstown State$17,773,16073.12%
37Austin Peay$17,641,70374.10%
38Northern Iowa$17,603,46353.24%
39Tennessee Tech$17,547,09281.04%
40Central Arkansas$17,502,83377.55%
41Southern Utah$17,259,00875.87%
42Portland State$16,839,89182.73%
43Western Carolina$16,396,59769.25%
44North Carolina A&T$16,372,03078.00%
45Delaware State$16,211,29092.20%
46Central Connecticut$16,043,57084.70%
47VMI$15,960,93145.22%
48Norfolk State$15,929,88677.22%
49Tennessee State$15,883,55681.21%
50Weber State$15,842,36564.52%
51Southeastern Louisiana$14,876,16954.54%
52Alabama State$14,550,27364.88%
53UT Martin$14,461,96168.99%
54Utah Tech$14,348,73679.95%
55Prairie View A&M$14,322,17775.90%
56Alabama A&M$14,006,08690.39%
57North Alabama$13,788,80675.23%
58McNeese State$13,623,10050.64%
59Northwestern State$13,505,43868.15%
60Texas Southern$13,362,71572.14%
61South Carolina State$13,271,35572.70%
62Florida A&M$13,172,31559.83%
63Eastern Washington$12,886,34069.80%
64Eastern Illinois$12,837,15368.18%
65Jackson State$12,821,65239.37%
66Southeast Missouri State$12,807,77173.63%
67Idaho State$12,137,16367.04%
68Morehead State$11,639,96681.36%
69Grambling State$11,378,55273.92%
70North Carolina Central$11,339,47776.55%
71Morgan State$11,126,28282.53%
72Nicholls State$10,961,30460.39%
73Western Illinois$10,066,26771.78%
74Arkansas-Pine Bluff$8,650,66950.83%
75Alcorn State$6,159,50352.62%
76Mississippi Valley State$4,040,92559.37%
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