The U.S. Olympic Foundation was established after the 1984 Olympic Games in Los Angeles to benefit Olympic and amateur sports in the U.S. The original funding (roughly $115 million) came from the USOC's share of the commemorative Olympic coins sold by the U.S. Government and from the USOC's 40 percent share of the surplus from the L.A. Olympic Games. A non-profit organization, the Foundation is not subject to state or federal income taxes and its objective is to reinvest up to 50 percent of its total portfolio while distributing the other 50 percent of the funds in grants to the USOC's member organizations to further develop sports in this country. The Foundation, which is run by a Board of Trustees that includes the USOC's immediate past president, is a separate entity from the U.S. Olympic Committee.

Source: United States Olympic Team

TOP