Livestrong Donations Fell 8 Percent in 2012

Livestrong Donations Fell 8 Percent in 2012

The , the cancer charity created by disgraced seven-time Tour de France champion Lance Armstrong, saw its donations fall roughly 8 percent in 2012, reports.

According to the organization's (76 pages, PDF), total revenue fell to $38.1 million, from $46.8 million in 2011, while contributions and grants totaled $22.7 million, down 8.1 percent from nearly $11.7 million the previous year. Last year marked the third year in a row in which donations to the organization fell. According to , sales of the organization's signature yellow bracelets have also slowed, down nearly 5 percent to date on a year-over-year basis.

Armstrong as Livestrong's board chair last October after the accused him of having used performance-enhancing drugs throughout his professional cycling career and banned him from the sport. He publicly admitted to the charges in January, and sports apparel giant Nike — which had partnered with Livestrong since 2004 — in May that it was severing its ties to the organization.

For its part, Livestrong listed 2012 total revenue at more than $48 million in its . Chief financial officer Greg Lee cited a figure of $48.2 million — about $613,000 less than in 2011 — which, he said, includes unrealized investment gains, in-kind donations, and other items not included in the $38.1 million figure. "We were very happy," said Lee, "that even though there were headwinds faced by investigations and other things around our founder, the foundation weathered through that very well."

Lisa Maria Garza. "." Reuters 07/23/2013. Mason Levinson. "." Bloomberg News 07/23/2013.