PSU Athletics in the Black.

Here are the schools from 2011 who were in the black (besides PSU) and who didn't receive any subsidies either:
Texas
OSU
LSU
Oklahoma
Nebraska
Purdue

Also, PSU has one of the most robust Athletic Departments; that is, they carry many different sports (men's and women's). If you look at some of the biggest schools down South or out West, they have a little more than half the sports that PSU carries. At least that's what I've noticed when looking on the NCAA website by school (they list the sports on the bottom right for each school; PSU's block is full, see here). There are approximately 800 Penn State student-athletes, participating in 31 varsity programs (16 men's, 15 women's), tied for the fourth-highest number of sports sponsored by a Football Bowl Subdivision institution.