TOTAL REV $9.17M
TOTAL EXP $9.17M
NET $0

Investment Profile · FY 2019

Virginia Military Institute

Lexington, Virginia · NCAA Division I-FCS · Public, 4-year or above · Enrollment 1,698

ZIP 244500304 · IPEDS unitid 234085

Revenue Percentile (Division)
19th

Key Financial Metrics · 2019

Total Revenue
$9.17M

Total Expenses
$9.17M

Net Result
$0

Unique Athletes
189

Revenue & Expense Trend (2015–2019)

20152016201720182019

Revenue
Expenses

Gender Investment Allocation

Men’s programs 85.2%Women’s programs 14.8%

$7.82M
$1.35M

Sport Program Investment

Revenue by sport

Football

$3.82M

Basketball

$1.5M

All Track Combined

$886.9K

Soccer

$685.1K

Baseball

$660K

Lacrosse

$568.6K

Wrestling

$427.4K

Water Polo

$341K

Swimming

$137.1K

Swimming and Diving

$100.5K

Expense by sport

Football

$3.82M

Basketball

$1.5M

All Track Combined

$886.9K

Soccer

$685.1K

Baseball

$660K

Lacrosse

$568.6K

Wrestling

$427.4K

Water Polo

$341K

Swimming

$137.1K

Swimming and Diving

$100.5K

Sport-by-sport profile table

Sport Men Women Coed (M/W) Revenue Expense Net
Football 7 97 0 $3.82M $3.82M $0
Basketball 2 15 0 $1.5M $1.5M $0
All Track Combined 3 125 64 $886.9K $886.9K $0
Soccer 15 31 32 $685.1K $685.1K $0
Baseball 1 35 0 $660K $660K $0
Lacrosse 11 51 0 $568.6K $568.6K $0
Wrestling 28 33 0 $427.4K $427.4K $0
Water Polo 27 0 15 $341K $341K $0
Swimming 19 21 0 $137.1K $137.1K $0
Swimming and Diving 18 0 16 $100.5K $100.5K $0
Rifle 12 0 9 16 / 1 $40.1K $40.1K $0

Participation & Revenue-per-Athlete

Revenue / Unique Athlete
$48.5K

Athletes Tracked
189

Top Sport Share
Football · 41.7%

Program Count
11

Unique men
125

Unique women
64

Per-sport slots
544

Multi-sport coeff
2.88x

Coed men
16

Coed women
1

The program has 189 unique athletes filling 544 sport roster slots — a 2.88x multi-sport coefficient indicating extensive cross-sport participation.

Division & Classification Context

Classification
NCAA Division I-FCS
Sector
Public, 4-year or above
Total Enrollment
1,698
Revenue Tier
Lower-tier (19th pct.)
Peers in Division
124 schools
Peers in Virginia
47 schools

Peer Benchmark

Peer School State Revenue Net Δ vs. subject
Southeast Missouri State University MO $9.27M $0 $98.9K
Prairie View A & M University TX $9.28M $0 $110K
Norfolk State University VA $9.32M $0 $147K
Delaware State University DE $9.01M $0 $-164.7K
Northwestern State University of Louisiana LA $9.4M $4 $232K

Financial Ratios & Investment Lens

Metric Value Definition
Subsidy Rate 0.0% Expense shortfall as % of revenue
Revenue / Enrollment $5.4K Athletic revenue per enrolled student
Expense Ratio 100.0% Expenses as % of revenue
Top Sport Share 41.7% Revenue concentration in top program
Division Percentile 19th 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.