For the life of me, I can't find a source for the $30,000 loss. I know I've read it on the internet somewhere, but feel free to take it with an internet-sized grain of salt.
Here's a chart from 2010 that isolates basketball revenue and expenses, though. It shows that the basketball programs of Marquette (3.1M), GTown (2.3M), PC (1.4M), and Nova (1.1) made a profit; Seton Hall, St. John's and DePaul did not.
Now, a couple of things about these numbers:
First, men's college basketball subsidized all other sports at these schools. We all know that nearly every athletic department in the country operates in the red, but here we see just how deep in the red these schools may be. $3 million doesn't go very far in institutions of higher education these days.
Second, while its impossible to isolate what impact renting an NBA arena has on these numbers, we can get an idea by looking at other institutions that don't. in 2010, Dayton basketball made a profit of $5.6 million. That would've easily placed them at the the top of the C7 revenue table, despite the fact that they played in a smaller conference with a MUCH smaller TV deal. Xavier made $4.8M that year; UNLV, $4.5M; Texas Southern, $1.2M; Missouri State, $1.9M; Nevada-Reno, $1.9M; Gonzaga, $1M. Those are just a handful of schools that are in a better financial situation than much of the C7, despite not playing what most would consider to be "big time" college basketball (and there are plenty more--Coppin State, Delaware State, Gardner Webb, etc).
And finally, the Big East that season featured, Cincinnati, UConn, Louisville, Notre Dame, Pitt, Syracuse, and West Virginia-schools with big fan bases that fill arenas and bring in money, and that won't be visiting many new Big East arenas any time soon. At one point in that season, the conference put 7 teams in the AP top 25. Of those 7, only GTown and Nova will be a part of the new Big East.
The big question we've all been asking is how much of the C7 basketball revenue was due to competing against those teams, and without them, exactly how far is the C7 going to fall? Given the dearth of on-campus facilities in the new Big East, I think we'll see most of those schools struggle to meet expenses. They'll be forced to downgrade their athletic programs, and in 15 years or so they're might not be any difference between the new Big East and the Atlantic 10 (the two conferences are already much more similar than the C7 would ever admit).