TOTAL REV $12.39M
TOTAL EXP $12.33M
NET $56.3K

Investment Profile · FY 2019

Gardner-Webb University

Boiling Springs, North Carolina · NCAA Division I-FCS · Private nonprofit, 4-year or above · Enrollment 1,632

ZIP 280170997 · IPEDS unitid 198561

Revenue Percentile (Division)
44th

Key Financial Metrics · 2019

Total Revenue
$12.39M

Total Expenses
$12.33M

Net Result
$56.3K

Unique Athletes
154

Gender Investment Allocation

Men’s programs 61.5%Women’s programs 38.5%

$7.62M
$4.77M

Enrollment Trend (2015–2019)

20152016201720182019

Total
Men
Women

Total enrollment contracted by 464 (-22.1%) from 2015 to 2019.

Sport Program Investment

Revenue by sport

Football

$3.3M

Basketball

$2.28M

Soccer

$1.24M

Swimming

$912.4K

All Track Combined

$852.9K

Baseball

$738.3K

Tennis

$621.8K

Softball

$611.1K

Wrestling

$522.1K

Volleyball

$461.4K

Expense by sport

Football

$3.3M

Basketball

$2.28M

Soccer

$1.24M

Swimming

$912.4K

All Track Combined

$827.7K

Baseball

$712.8K

Tennis

$621.8K

Softball

$607.6K

Wrestling

$522.1K

Volleyball

$461.4K

Sport-by-sport profile table

Sport Men Women Revenue Expense Net
Football 7 101 0 $3.3M $3.3M $0
Basketball 2 17 15 $2.28M $2.28M $0
Soccer 15 59 38 $1.24M $1.24M $0
Swimming 19 23 20 $912.4K $912.4K $0
All Track Combined 3 51 53 $852.9K $827.7K $25.2K
Baseball 1 35 0 $738.3K $712.8K $25.5K
Tennis 22 9 8 $621.8K $621.8K $0
Softball 16 0 21 $611.1K $607.6K $3.5K
Wrestling 28 35 0 $522.1K $522.1K $0
Volleyball 26 0 15 $461.4K $461.4K $0
Lacrosse 11 0 28 $439.7K $437.6K $2.1K
Golf 8 15 6 $417.7K $417.7K $0

Participation & Revenue-per-Athlete

Revenue / Unique Athlete
$80.5K

Athletes Tracked
154

Top Sport Share
Football · 26.6%

Program Count
12

Unique men
101

Unique women
53

Per-sport slots
549

Multi-sport coeff
3.56x

Coed men

Coed women

The program has 154 unique athletes filling 549 sport roster slots — a 3.56x multi-sport coefficient indicating extensive cross-sport participation.

Division & Classification Context

Classification
NCAA Division I-FCS
Sector
Private nonprofit, 4-year or above
Total Enrollment
1,632
Revenue Tier
Below-median (44th pct.)
Peers in Division
124 schools
Peers in North Carolina
68 schools

Peer Benchmark

Peer School State Revenue Net Δ vs. subject
Southern Utah University UT $12.46M $1.93M $71.6K
Saint Francis University PA $12.32M $0 $-73.3K
Youngstown State University OH $12.3M $0 $-85K
The University of Tennessee-Chattanooga TN $12.5M $0 $115.3K
University of South Dakota SD $12.27M $0 $-122.7K

Financial Ratios & Investment Lens

Metric Value Definition
Subsidy Rate 0.0% Expense shortfall as % of revenue
Revenue / Enrollment $7.6K Athletic revenue per enrolled student
Expense Ratio 99.5% Expenses as % of revenue
Top Sport Share 26.6% Revenue concentration in top program
Division Percentile 44th Revenue rank within NCAA Division I-FCS

Source: U.S. Department of Education — Equity in Athletics Data Analysis (EADA). Fiscal year 2019. Last updated April 18, 2026.