NCAA generates nearly $1 billion in revenue in 2014

The NCAA announced Wednesday that it generated nearly $1 billion in revenue in 2014.

The NCAA announced Wednesday that it generated nearly $1 billion in revenue during the 2014 fiscal year, according to USA Today. 

The exact revenue was amount was $989 million. About $700 million was a result of the media deal the organization has with CBS and Turner Broadcasting, primarily for the NCAA tournament. 

• BELLER: Bubble & Bracket Watch: Texas can't afford to lose

The organization reached nearly $80.5 million in surplus for the year, which was the fourth consecutive year the surplus was more than $60 million and the largest surplus of the last 10 years, according to USA Today. It was also nearly $20 million more than the NCAA's surplus in 2013. 

Of the NCAA's $908.6 million in expenses, it said $547.1 million of it was given to Division I schools and conferences. 

- Molly Geary