FCS Independents

FCS Independents 2026-27	Football Conference	Basketball Conference	Athletic Budget ($)
Chicago State *	Independent	NEC	8,751,784
Merrimack	Independent	Metro Atlantic	31,668,878

* Chicago State will become a football member of the NEC beginning with the 2027-28 season.

EADA Operating Expenses: FCS Independent Schools 2022-25

Athletic Department Annual Expenses *	Football Conference	Basketball Conference	FY 2025 ($)	FY 2024 ($)	FY 2023 ($)	FY 2022 ($)	3-year % Increase
Chicago State	Independent	NEC	8,751,784	8,264,373	8,291,183	7,617,375	15%
Merrimack	Independent	Metro Atlantic	31,668,878	30,694,837	28,747,018	26,284,588	20%
Average ($)			20,210,331	19,479,605	18,519,101	16,950,982	19%

* Expenses per Equity in Athletics Act (EADA) annual reporting. EADA differs from NCAA reporting with the primary difference being that EADA reporting does not require disclosure of payments made for athletic facilities debt service and leases.  Consequently, EADA reporting typically results in lower annual expenses than NCAA reporting at most schools. See our methodology page for more detail and disclosures.

 

We didn’t just make this stuff up … see our page on methodology and sources of information.  Questions on our data? Contact us at: NIL-NCAA.com  Statistics compiled & edited by Patrick O’Rourke CPA, Washington, DC