Cover story: Educational mission fuels rodeos; how much put in tank?

Texas rodeo officials have always been quick to boast about providing scholarships to youths. In the rodeo world, it’s touted as a prime reason for existing. Call it their blue-ribbon program.

But financial reports for the state’s four major rodeos — all of which are nonprofits — show a large disparity in how much they award in scholarships compared with annual revenue. The reports also highlight how well rodeo executives are compensated for leading organizations largely operated by volunteers, making how they spend their money a communitywide concern.