The Lance Armstrong Foundation sees donations spike in wake of controversy
August 28, 2012
Lance Armstrong, seven-time winner of the Tour de France and national spokesperson in the fight against cancer, recently announced he would stop fighting doping allegations. The U.S. Anti-Doping Agency had accused Armstrong of using blood transfusions and illegal drugs to boost his performance.
Rather than taking a hit in the aftermath of the decision, Armstrong's 15-year-old Livestrong Foundation saw donations increase from a daily average of $3,000 to $80,000 the next day, according to USA Today. Moreover, the foundation received a surge of emails voicing support, staff members said.
In his announcement, Armstrong explained that the contesting the accusations was detracting from time with his family and supporting the foundation, which had served more than 2.3 million cancer survivors between its inception in 1997 and 2011.
Donors can learn more about contribution allocation, since the foundation offers in-depth financial reports online. This level of transparency can help ensure organizations are meeting their projected goals for contributions, fundraising efforts and staffing costs.
Similar groups can benefit from a nonprofit fund accounting
program, which provides stakeholders with detailed annual reports about their successes and measurable progress for their causes.