The NCAA has surpassed the $1 billion mark in annual revenue for the first time ever. 

Although the association came close in recent years, the NCAA reached $1.1 billion in annual revenue during its 2017 fiscal year, according to an audited financial statement released by the NCAA (via USA Today). 

The report cited increases from TV and marketing fees, in addition to investment income and increased revenue from championship events, as reasons for the growth. The remaining $26 million came from the NCAA's sale into an enterprise that aids athletic departments with various payments including scheduling and referee assignments.

To put into perspective how much money is generated from TV revenue, as recently as 2010, the NCAA's broadcasting rights for the March Madness were worth a little less than $550 million per year.

In 2011, the NCAA reached a new 14-year, $10.8 billion deal worth more than $770 million annually, according to Business Insiders.

The NCAA had more than $956 million in expenses in 2017 with $560.3 million distributed to Division I members. 

As of Aug. 31, 2017, the association was left with a little less than $399 million in total net assets after there was an operation surplus of $105.1 million.