UPDATE: Top 100 programs for ’10-’11 available here: 1-50, 51-100 (updated 12/29/11)

I’ve told you before that Louisville basketball is the 21st most profitable program in college athletics. I’ve shown you the football profits for every school in my Conference Finance Series. Now it’s time to take a look at the 50 most profitable programs in college athletics for the 2009-2010 school year:

Rank School Revenue Expenses Profit 1 University of Texas (Football) $93,942,815 $25,112,331 $68,830,484 2 Univ. of Georgia (Football) $70,838,539 $18,308,654 $52,529,885 3 Penn State Univ. (Football) $70,208,584 $19,780,939 $50,427,645 4 Univ. of Michigan (Football) $63,189,417 $18,328,233 $44,861,184 5 Univ. of Florida (Football) $68,715,750 $24,457,557 $44,258,193 6 Louisiana State Univ. (Football) $68,819,806 $25,566,520 $43,253,286 7 Univ. of Alabama (Football) $71,884,525 $31,118,134 $40,766,391 8 Univ. of Tennessee (Football) $56,593,946 $17,357,345 $39,236,601 9 Auburn Univ. (Football) $66,162,720 $27,911,713 $38,251,007 10 University of Oklahoma (Football) $58,295,888 $20,150,769 $38,145,119 11 Univ. of South Carolina (Football) $58,266,159 $22,794,211 $35,471,948 12 Notre Dame (Football) $64,163,063 $29,490,788 $34,672,275 13 University of Nebraska (Football) $49,928,228 $17,843,849 $32,084,379 14 Ohio State Univ. (Football) $63,750,000 $31,763,036 $31,986,964 15 Univ. of Iowa (Football) $45,854,764 $18,468,732 $27,386,032 16 Michigan State Univ. (Football) $44,462,659 $17,468,458 $26,994,201 17 Univ. of Arkansas (Football) $48,524,244 $22,005,104 $26,519,140 18 Texas A&M (Football) $41,915,428 $16,599,798 $25,315,630 19 Univ. of Kentucky (Football) $31,890,572 $13,905,724 $17,984,848 20 Oklahoma State (Football) $32,787,498 $15,479,410 $17,308,088 21 University of Louisville (Basketball) $25,890,003 $9,089,769 $16,800,234 22 Univ. of Wisconsin (Football) $38,662,971 $22,041,491 $16,621,480 23 Univ. of Mississippi (Football) $28,409,774 $11,920,510 $16,489,264 24 West Virginia University (Football) $29,467,612 $14,330,236 $15,137,376 25 Univ. of Minnesota (Football) $32,322,688 $17,433,699 $14,888,989 26 Virginia Tech (Football) $31,155,870 $16,302,767 $14,853,103 27 Univ of Washington (Football) $33,919,639 $19,207,560 $14,712,079 28 Clemson Univ. (Football) $30,994,503 $16,305,528 $14,688,975 29 Duke (Basketball) $26,667,056 $12,286,475 $14,380,581 30 Univ. of Illinois (Football) $25,301,783 $11,092,122 $14,209,661 31 North Carolina (Basketball) $20,551,168 $6,647,459 $13,903,709 32 University of Colorado (Football) $26,233,929 $12,558,503 $13,675,426 33 Univ of Arizona (Basketball) $19,285,038 $5,806,535 $13,478,503 34 Ohio St. (Basketball) $16,190,723 $4,554,908 $11,635,815 35 University of Missouri (Football) $25,378,066 $13,759,649 $11,618,417 36 North Carolina State (Football) $22,018,738 $10,408,938 $11,609,800 37 Arizona State (Football) $29,587,236 $17,977,987 $11,609,249 38 Texas Tech (Football) $26,201,009 $14,688,382 $11,512,627 39 Univ of Oregon (Football) $29,505,906 $18,071,012 $11,434,894 40 Univ of Arizona (Football) $24,398,253 $13,685,931 $10,712,322 41 Syracuse University (Basketball) $18,309,470 $8,086,376 $10,223,094 42 Wisconsin (Basketball) $17,666,311 $7,539,418 $10,126,893 43 Illinois (Basketball) $14,413,222 $4,980,589 $9,432,633 44 Georgia Tech (Football) $24,870,064 $15,519,206 $9,350,858 45 Indiana Univ. (Football) $21,783,185 $12,822,779 $8,960,406 46 Indiana (Basketball) $16,570,158 $7,653,945 $8,916,213 47 Univ. of Arkansas (Basketball) $15,515,830 $6,839,213 $8,676,617 48 Univ of Southern California (Football) $29,080,117 $20,820,468 $8,259,649 49 Minnesota (Basketball) $13,733,316 $5,692,149 $8,041,167 50 Michigan St. (Basketball) $16,138,167 $8,250,450 $7,887,717

Not only is Louisville basketball the most profitable basketball program in the country, it’s more profitable than the football program at any Big East school. It’s also more profitable than any football program in the ACC or Pac-10! Keep in mind, these numbers were for the season before Louisville basketball began play in a new arena.

The top ten consists of 2 Big 12 football teams, 2 Big Ten football teams and 6 SEC football teams. The ACC doesn’t have a team until Virginia Tech football at #26. The Pac-10 follows closely with Washington football at #27.

Twelve of the top fifty are basketball programs. I was actually surprised to see the number so high.

Ten of the twelve SEC football programs are in the top fifty. Only Mississippi State (76) and Vanderbilt (T-132) fell lower.

Nine of the eleven Big Ten football programs fall in the top fifty. All of the Big Ten football programs fall in the top 70, with Northwestern at #56 and Purdue at #63.

University of Oregon falls at 39 for football but is at the bottom of the list, living in the red, at #138 for basketball. They must have been saving up for the new artwork on the basketball court.

You can follow the jump for the complete list, but the football programs in the bottom thirty are all ACC or Big East, with the exception of SEC competitor Vanderbilt. This highlights a point I’ve been trying to make for awhile about how the divide between haves and have nots is not simply drawn at the line between AQ and non-AQ schools. There is vast disparity between teams in AQ conferences as well.

Follow the jump for the complete list….

Rank School Revenue Expenses Profit 1 University of Texas (Football) $93,942,815 $25,112,331 $68,830,484 2 Univ. of Georgia (Football) $70,838,539 $18,308,654 $52,529,885 3 Penn State Univ. (Football) $70,208,584 $19,780,939 $50,427,645 4 Univ. of Michigan (Football) $63,189,417 $18,328,233 $44,861,184 5 Univ. of Florida (Football) $68,715,750 $24,457,557 $44,258,193 6 Louisiana State Univ. (Football) $68,819,806 $25,566,520 $43,253,286 7 Univ. of Alabama (Football) $71,884,525 $31,118,134 $40,766,391 8 Univ. of Tennessee (Football) $56,593,946 $17,357,345 $39,236,601 9 Auburn Univ. (Football) $66,162,720 $27,911,713 $38,251,007 10 University of Oklahoma (Football) $58,295,888 $20,150,769 $38,145,119 11 Univ. of South Carolina (Football) $58,266,159 $22,794,211 $35,471,948 12 Notre Dame (Football) $64,163,063 $29,490,788 $34,672,275 13 University of Nebraska (Football) $49,928,228 $17,843,849 $32,084,379 14 Ohio State Univ. (Football) $63,750,000 $31,763,036 $31,986,964 15 Univ. of Iowa (Football) $45,854,764 $18,468,732 $27,386,032 16 Michigan State Univ. (Football) $44,462,659 $17,468,458 $26,994,201 17 Univ. of Arkansas (Football) $48,524,244 $22,005,104 $26,519,140 18 Texas A&M (Football) $41,915,428 $16,599,798 $25,315,630 19 Univ. of Kentucky (Football) $31,890,572 $13,905,724 $17,984,848 20 Oklahoma State (Football) $32,787,498 $15,479,410 $17,308,088 21 University of Louisville (Basketball) $25,890,003 $9,089,769 $16,800,234 22 Univ. of Wisconsin (Football) $38,662,971 $22,041,491 $16,621,480 23 Univ. of Mississippi (Football) $28,409,774 $11,920,510 $16,489,264 24 West Virginia University (Football) $29,467,612 $14,330,236 $15,137,376 25 Univ. of Minnesota (Football) $32,322,688 $17,433,699 $14,888,989 26 Virginia Tech (Football) $31,155,870 $16,302,767 $14,853,103 27 Univ of Washington (Football) $33,919,639 $19,207,560 $14,712,079 28 Clemson Univ. (Football) $30,994,503 $16,305,528 $14,688,975 29 Duke (Basketball) $26,667,056 $12,286,475 $14,380,581 30 Univ. of Illinois (Football) $25,301,783 $11,092,122 $14,209,661 31 North Carolina (Basketball) $20,551,168 $6,647,459 $13,903,709 32 University of Colorado (Football) $26,233,929 $12,558,503 $13,675,426 33 Univ of Arizona (Basketball) $19,285,038 $5,806,535 $13,478,503 34 Ohio St. (Basketball) $16,190,723 $4,554,908 $11,635,815 35 University of Missouri (Football) $25,378,066 $13,759,649 $11,618,417 36 North Carolina State (Football) $22,018,738 $10,408,938 $11,609,800 37 Arizona State (Football) $29,587,236 $17,977,987 $11,609,249 38 Texas Tech (Football) $26,201,009 $14,688,382 $11,512,627 39 Univ of Oregon (Football) $29,505,906 $18,071,012 $11,434,894 40 Univ of Arizona (Football) $24,398,253 $13,685,931 $10,712,322 41 Syracuse University (Basketball) $18,309,470 $8,086,376 $10,223,094 42 Wisconsin (Basketball) $17,666,311 $7,539,418 $10,126,893 43 Illinois (Basketball) $14,413,222 $4,980,589 $9,432,633 44 Georgia Tech (Football) $24,870,064 $15,519,206 $9,350,858 45 Indiana Univ. (Football) $21,783,185 $12,822,779 $8,960,406 46 Indiana (Basketball) $16,570,158 $7,653,945 $8,916,213 47 Univ. of Arkansas (Basketball) $15,515,830 $6,839,213 $8,676,617 48 Univ of Southern California (Football) $29,080,117 $20,820,468 $8,259,649 49 Minnesota (Basketball) $13,733,316 $5,692,149 $8,041,167 50 Michigan St. (Basketball) $16,138,167 $8,250,450 $7,887,717 51 Univ. of North Carolina (Football) $22,077,550 $14,788,287 $7,289,263 52 North Carolina State (Basketball) $10,354,157 $3,104,152 $7,250,005 53 Oregon State (Football) $19,056,237 $11,981,026 $7,075,211 54 University of Pittsburgh (Basketball) $13,117,849 $6,046,724 $7,071,125 55 Univ of California, Los Angeles (Football) $22,298,856 $15,261,681 $7,037,175 56 Northwestern Univ. (Football) $22,704,959 $15,733,548 $6,971,411 57 West Virginia University (Basketball) $13,306,654 $6,377,761 $6,928,893 58 Univ. of Tennessee (Basketball) $13,301,579 $6,478,312 $6,823,267 59 Univ. of Miami (Football) $24,631,029 $17,863,218 $6,767,811 60 University of Texas (Basketball) $15,602,348 $8,887,250 $6,715,098 61 Iowa State (Football) $19,974,924 $13,368,441 $6,606,483 62 Kansas State (Football) $17,570,624 $11,157,789 $6,412,835 63 Purdue Univ. (Football) $18,118,898 $11,821,265 $6,297,633 64 Univ of Washington (Basketball) $11,481,376 $5,372,380 $6,108,996 65 Univ of California, Los Angeles (Basketball) $12,353,487 $6,277,088 $6,076,399 66 Univ of California, Berkeley (Football) $24,421,437 $18,519,523 $5,901,914 67 Northwestern (Basketball) $10,048,801 $4,158,854 $5,889,947 68 Marquette (Basketball) $13,877,475 $8,185,030 $5,692,445 69 Maryland (Basketball) $10,739,282 $5,160,381 $5,578,901 70 Georgia Tech (Basketball) $9,143,914 $3,873,987 $5,269,927 71 Univ. of Kentucky (Basketball) $16,781,239 $11,573,283 $5,207,956 72 Univ. of South Carolina (Basketball) $9,190,794 $4,023,386 $5,167,408 73 University of Kansas (Basketball) $16,116,502 $10,984,833 $5,131,669 74 University of Pittsburgh (Football) $22,513,336 $17,441,032 $5,072,304 75 Wake Forest (Basketball) $9,064,780 $4,196,104 $4,868,676 76 Mississippi State Univ. (Football) $14,551,275 $9,951,097 $4,600,178 77 Virginia Tech (Basketball) $9,252,293 $4,790,553 $4,461,740 78 University of South Florida (Football) $16,562,391 $12,177,182 $4,385,209 79 Univ. of Alabama (Basketball) $10,766,327 $6,410,262 $4,356,065 80 Penn St. (Basketball) $8,384,315 $4,147,124 $4,237,191 81 University of Missouri (Basketball) $9,540,265 $5,345,179 $4,195,086 82 Stanford University (Football) $21,309,949 $17,236,945 $4,073,004 83 Syracuse University (Football) $19,152,691 $15,300,740 $3,851,951 84 Univ. of Georgia (Basketball) $8,331,515 $4,509,622 $3,821,893 85 Mississippi State Univ. (Basketball) $8,205,804 $4,424,871 $3,780,933 86 Washington State (Football) $12,754,541 $9,181,495 $3,573,046 87 Iowa (Basketball) $8,796,540 $5,243,813 $3,552,727 88 Univ. of Mississippi (Basketball) $6,821,532 $3,305,823 $3,515,709 89 Michigan (Basketball) $8,321,413 $4,913,440 $3,407,973 90 University of Louisville (Football) $15,537,276 $12,222,307 $3,314,969 91 Univ. of Virginia (Football) $19,004,653 $15,927,675 $3,076,978 92 Arizona State (Basketball) $8,591,421 $5,527,849 $3,063,572 93 University of Oklahoma (Basketball) $8,626,247 $5,720,497 $2,905,750 94 Texas A&M (Basketball) $8,853,325 $5,961,139 $2,892,186 95 Clemson (Basketball) $7,054,691 $4,217,341 $2,837,350 96 Georgetown (Basketball) $10,074,618 $7,393,234 $2,681,384 97 Iowa State (Basketball) $7,182,665 $4,530,329 $2,652,336 98 Purdue (Basketball) $7,791,967 $5,171,495 $2,620,472 99 Florida State Univ. (Football) $18,958,861 $16,345,376 $2,613,485 100 Oklahoma State (Basketball) $12,085,306 $9,477,405 $2,607,901 101 Louisiana State Univ. (Basketball) $6,767,009 $4,195,336 $2,571,673 102 Miami (Basketball) $7,081,121 $4,651,481 $2,429,640 103 Virginia (Basketball) $9,788,223 $7,390,325 $2,397,898 104 Auburn Univ. (Basketball) $9,588,191 $7,234,287 $2,353,904 105 Univ. of Florida (Basketball) $10,184,136 $7,908,661 $2,275,475 106 Vanderbilt Univ. (Basketball) $9,182,578 $6,930,433 $2,252,145 107 Kansas State (Basketball) $7,259,800 $5,124,051 $2,135,749 108 University of Nebraska (Basketball) $6,022,208 $4,104,289 $1,917,919 109 Baylor University (Football) $14,355,322 $12,462,241 $1,893,081 110 Stanford University (Basketball) $6,191,021 $4,380,416 $1,810,605 111 Duke University (Football) $16,109,324 $14,312,863 $1,796,461 112 Providence (Basketball) $6,460,838 $4,696,862 $1,763,976 113 University of Cincinnati (Football) $13,325,304 $11,599,780 $1,725,524 114 Univ. of Maryland (Football) $11,540,368 $9,863,748 $1,676,620 115 Texas Tech (Basketball) $5,092,921 $3,422,404 $1,670,517 116 University of Kansas (Football) $17,885,176 $16,270,250 $1,614,926 117 Villanova (Basketball) $7,652,470 $6,117,021 $1,535,449 118 University of South Florida (Basketball) $4,588,627 $3,215,424 $1,373,203 119 Oregon State (Basketball) $4,938,930 $3,675,571 $1,263,359 120 Boston College (Football) $19,184,902 $17,973,705 $1,211,197 121 University of Cincinnati (Basketball) $4,927,771 $3,754,077 $1,173,694 122 Univ of California, Berkeley (Basketball) $6,967,208 $5,816,679 $1,150,529 123 UCONN (Basketball) $7,745,145 $6,940,903 $804,242 124 Florida St (Basketball) $5,756,857 $5,126,393 $630,464 125 Washington State (Basketball) $3,544,745 $3,158,178 $386,567 126 Rutgers University (Basketball) $4,634,026 $4,495,147 $138,879 127 UCONN (Football) $14,400,371 $14,400,371 $0 128 Vanderbilt Univ. (Football) $14,152,061 $14,152,061 $0 129 Boston College (Basketball) $8,026,369 $8,026,369 $0 130 DePaul (Basketball) $6,528,661 $6,528,661 $0 131 Seton Hall (Basketball) $6,215,923 $6,215,923 $0 132 St. John’s (Basketball) $6,741,298 $6,741,298 $0 133 Rutgers University (Football) $19,494,261 $19,494,263 ($2) 134 Notre Dame (Basketball) $4,051,468 $4,060,565 ($9,097) 135 Baylor University (Basketball) $5,737,350 $5,830,311 ($92,961) 136 University of Colorado (Basketball) $3,587,371 $3,811,877 ($224,506) 137 Univ of Southern California (Basketball) $3,535,629 $4,548,364 ($1,012,735) 138 Univ of Oregon (Basketball) $3,240,150 $5,491,846 ($2,251,696) 139 Wake Forest University (Football) $10,227,922 $12,517,505 ($2,289,583)

Note: The data in these charts is from reports filed by each school with the U.S. Department of Education. As always when I post U.S. Department of Education data, I must warn you that although there are guidelines for how to report revenue and expenses, there is some wiggle room in terms of how to attribute facilities costs and broadcasting revenue. These are the only numbers available for every school, however, because private schools are not subject to public records requests but do have to file their data with the U.S. Department of Education.

Thanks to my research assistant Spencer Anderson for helping me compile this great data!