A charity of high-profile ‘The Livestrong Foundation’, that has seen harder time after the downfall of its founder Lance Armstrong, again saw a drop in revenue in 2015, this is third-straight year in which organization has seen the decline of double-digits.
The nonprofit Austin-based cancer patients, supporting charity organization recorded the revenue of $6.2 million that year, compared to $16.6 million in 2014, and the contributions were $3.7 million, compared with year before $11.9 million, the news has come now to the public because reports of the Associated Press citing federal tax records have become available just now.
About this the president of Livestrong Greg Lee told the AP that the finances of the foundation are healthy — till date the donations are up and the organization has the net assets of $73 million approximately, having the cash stocked before the rider’s fall from grace.
He further added that,” There is no impact on patients who are taking benefit from the charity organization and as a signature of the bounce of organization is, the organization received its first $1 million pledge last year of the decade.” Read More …
