Livestrong Donations Dropped As Armstrong Scandal Raged

The Livestrong Foundation saw fundraising decline 8.1 percent in 2012 as the controversy over doping by its founder, cyclist Lance Armstrong, came to a head, Bloomberg and The Wall Street Journal write.

Livestrong collected $22.7-million in donations and grants last year, the third straight in which gifts to the Austin, Tex.-based cancer support charity fell. Support is down 45 percent from 2009, when the foundation took in $40.1-million.

Overall revenue was $38.1-million, down 19 percent from 2011, according to the foundation’s latest Form 990 filing, although Livestrong’s own reckoning of revenue—which includes in-kind contributions and unrealized investment gains—showed a much smaller decline.

Mr. Armstrong resigned as Livestrong’s chairman in October, two months after the U.S. Anti-Doping Agency banned the seven-time Tour de France winner from cycling. He was later formally stripped of his Tour titles and publicly acknowledged in January that he had cheated throughout his racing career.

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