OK, I've been following this thread but haven't had time to contribute until now. Formerly it was thought self-evident that there must be an impregnable wall between charitable endeavors for the social good, on the one hand, and for-profit efforts on the other. Beginning approximately with the Reagan-Thatcher era and increasingly since then, this thinking has changed, at least on the part of some.
Nowadays there is an unmistakable current of thought that says we don't need this wall and never did. Ayn Rand acolytes who regard selfishness as the greatest characteristic of man and the so-called market as man's most efficient mechanism for progress - these people say the separation between profit and non-profit is only needed if profit is a bad word. According to this thinking more money can be made for good causes if the approach to raising it is as "market-oriented" as possible.
The Livestrong setup is a really textbook example. Thus we have Livestrong, the 501(c)(3) organization, taking an equity stake in Livestrong.com, the profit maker, as well as in Nike's for-profit Livestrong apparel line. The "market" is "turned loose" on the fundraising side, in theory raining maximum dollars on the social cause, while Armstrong and others get richer, and guilt-free to boot! Milton Friedman, siting in his lofty perch in Heaven alongside the aforementioned Ayn Rand, Ronald Reagan, Margaret Thatcher (and their friend Augusto Pinochet)*, reaches down to pat Armstrong on the head in warm approval, and everyone is smiling all around.
*To mods and others concerned: these political figures are mentioned only for context; i.e., insofar as their philosophies and policies directly lead to issues (conflict of interest between Livestrong.org/.com) discussed in this thread.