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."