Failure to reach the donations goal along with an approximate $500,000 decrease in NCAA revenues caused by the pandemic were major factors in W&M facing a $2.87 million shortfall in fiscal year 2020. Reserves from the Tribe Club, the athletic department’s fundraising arm, covered the deficit. That action, which had become habit, influenced W&M to act on budget issues. Martin said Tribe Club reserves “have been declining steadily since at least (fiscal year 2015). This is what a structural budget deficit looks like, annually having to take reserves to cover an operating deficiency.”https://richmond.com/sports/college/william-and-mary/declining-philanthropy-contributed-to-w-m-budget-woes-decision-to-cut-sports/article_aea550b4-aedb-50e6-a830-2110a0b38430.html
