Dr. Maserati said:
Armstrong has a vested interest in C3 and all of its clients. If you see a music show at Stubbs, you are putting money in that pocket.
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Armstrong has a vested interest in C3 and all of its clients. If you see a music show at Stubbs, you are putting money in that pocket.
Race Radio said:
Really? Livestrong's form 990 is pretty explicit that it doesn't spend money on either first class or charter travel for their officers/directors/trustees key employees etc (which would include Armstrong).
Gee333 said:
If you think he can add two and two, then you're giving him more credit that I do. He has a group of friends and advisors who invest "with" him and provide him with new opportunities. The key is to keep the people with the capital thinking that they run the show...
Tim_sleepless said:
Ok - wrong thread but since this came up here...
I had a look at the form 990 for 2008 & 2009. Anyone who thinks LAF is your typical cancer charity, should consider:
In 2009, the foundation spent $4,195,187 of its donors' money in "advertising costs". Not typical for a charity, and not to be confused with fund raising costs where an additional $4 million was spent on. Wouldn't you like a charity spending $8M/year in advertising you and your good name? You may even get some sponsors interested in signing you up as their spokesperson...
IRS began a routine examination of the Foundation’s 2006 Form 990 that is anticipated to be completed by the end of 2010. A routine footnote perhaps. But it would not be surprising to find that LAF is being looked at with the rest of Armstrong's financial activities as part of the investigation. Mr Novitzky calling his old friends at IRS?
In 2009, LAF burned through $34M - and received in $35M in contrubutions. Its permamnent endowment provides at most $350,000 of funding per year in today's investment climate. In other words, LAF is very vulnerable to shifts in public opinion about its founder and so LAF's fate is tied to the bigger Lance Armstrong business empire and if that crumbles, so will LAF. Tragic, some say - but to my eyes this looks like a sham charity, highly unusual to say the least.
Finally, you'd think that Lance would have generously donated to his own charity to set them up long term. Polish claims that Lance has donated at least $10M to LAF. But where's that money? Of the $6.5M in permanent endowment funds, only $1.25M is designated in Lance's name - "The Armstrong family fund". What a novel idea - form a foundation in your own name using other people's money.
http://www.livestrong.org/pdfs/4-0/2008-2009combinedauditreport
I'm not an accountant, but that is a train wreck of a financial statement for a charity. It ought to read: "$50M in, 3M out in actual grant funding to the cause of cancer."
What's particularly curious is that as LAF's revenue increases dramatically, the grant funding has decreased more dramatically. 2009 saw 1/2 of the grants of 2008.
How could this not be news? It seems like the WSJ might know a forensic accountant who could slog through this stuff.
What's particularly curious is that as LAF's revenue increases dramatically, the grant funding has decreased more dramatically. 2009 saw 1/2 of the grants of 2008.
How could this not be news? It seems like the WSJ might know a forensic accountant who could slog through this stuff.
AnythingButKestrel said:
LAF recently changed its mission to be all about "cancer awareness" - a clever way to justify that advertising the Livestrong brand qualifies as helping cancer patients - it's as close to a commercial business as you'll ever find masquerading as a charity, by selling yellow bracelets for a profit they're in fact fulfilling its stated mission.
Livestrong is a registered trademark of who? Lance Armstrong (Foundation).
Polish
BANNED
AnythingButKestrel said:
Please add in D1CK's Sporting Goods. Thanks
Feed the Warrior:
http://www.youtube.com/watch?v=NXj7-55xHn0
Like a BlackSmith to the Forge:
http://www.youtube.com/watch?v=JVCeUw9kj2I
Anything but Kestrel,
why exactly did you post the incorrect links below, on your list, so they would not open ?
.....................................
American Century Investment Services, Inc., Distributor, has entered into an agreement with the LAF for rights to use the LIVESTRONG name. Under this agreement, every dollar invested in LIVESTRONG Portfolios through 2016 will help determine the amount the management company of American Century Investments will pay the LAF above a guaranteed amount. Under limited circumstances, the agreement can be terminated by either party, and there will be no future payments.
why exactly did you post the incorrect links below, on your list, so they would not open ?
tubularglue said:
.....................................
American Century Investment Services, Inc., Distributor, has entered into an agreement with the LAF for rights to use the LIVESTRONG name. Under this agreement, every dollar invested in LIVESTRONG Portfolios through 2016 will help determine the amount the management company of American Century Investments will pay the LAF above a guaranteed amount. Under limited circumstances, the agreement can be terminated by either party, and there will be no future payments.
LA gets dough from (in no particular order):
Livestrong (http://www.livestrong.com) [the commercial side]
Livestrong (http://www.livestrong.org) [the Cancer side]
Trek (http://www.trekbikes.com)
http://www.trekbikes.com/us/en/story/madone
and sub-brands such as:
Gary Fisher
Giro Helmets (http://www.giro.com/)
Giro is owned by Easton-Bell of Bell helmets (http://www.bellbikehelmets.com/)
http://livestrong.giro.com appears to be defunct. Maybe Bell has had a change of heart...?
SRAM (http://www.sram.com)
SRAM Components
Zipp Speed Weaponry Wheels
Nike (http://www.nike.com)
Oakley (http://www.oakley.com)
Radio Shack (http://www.radioshack.com)
Anheuser Busch (http://www.anheuser-busch.com/beerverified.html)
http://www.michelobultra.co m/
A-B has a depressingly large # of brands that prob. include something
you drink at some time. Even Kirin is A-B....
Honey Stinger (http://www.honeystinger.com)
FRS(?) Energy goop (http://www.frs.com)
Nissan
(http://www.nissanusa.com/leaf-elect...ric-car/video/view/lance_armstrong_talks_leaf)
Echelon Gran Fondo (http://www.echelongranfondo.org/) [in the form of donations to Livestrong]
Austin Marathon (http://www.youraustinmarathon.com/sponsors)
Eagle Golf
http://www.eaglegolf.com/eaglsites/courses/layout9.asp?id=155&page=6608
http://www.prnewswire.com/news-rele...ises-over-100000-for-livestrong-97894529.html
Facebook (http://www.facebook.com)
Mellow Johnnies (http://www.mellowjohnnys.com)
Juan Pelota Cafe (http://www.mellowjohnnys.com/juan-pelota-cafe/)
Demand Media (http://www.demandmedia.com)
http://paidcontent.org/article/419-...-in-demand-media-launching-wellness-site-tog/
Livestrong.com
eHow.com
Trails.com
GolfLink.com
Mania.com
Cracked.com
Bristol-Meyers Squibb
http://www.bms.com/products/Pages/home.aspx
Bristol-Myers Squibb - Investors - News Release
Lance Armstrong Rides Again | Culture | Vanity Fair
AUL Retirement Services, American Century Investments® partner to offer LIVESTRONG® Portfolios
http://www.oneamerica.com/wps/wcm/c...tments+partner+to+offer+livestrong+portfolios
https://www.americancentury.com/funds/fund_facts.jsp?fund=956
LIVESTRONG Income Portfolio. Fund Fact Sheet as of 6.30.2010 ...
LIVESTRONG is a trademark of the Lance Armstrong Foundation. ...
https://iua.americancentury.com/iua/pdf/factsheet/LIVESTRONGIncPortfolio_multi.pdf
Hotel Le Toiny
http://www.letoiny.com/
One Bedroom Villa Suite
EUR 710.00
One bedroom Villa Suite- 785 sqf- king - ocean view-private pool-terrace
24 Hour Fitness (http://www.24hourfitness.com/health_clubs/signature.../armstrong)
CSE (http://www.planetcse.com/event.asp)
Austin City Limits
Discovery Channel Cycling Team
FRS
Mellow Johnny's
Le Toiny
Lollapalooza
Tour of Hope
****'s Sporting Goods
http://www.dickssportinggoods.com/livestrong/?ab=OAS_Brandbar:Livestrong
Past Associates
--------------------------------------------
USPS (http://www.usps.com)
YAHOO (http://www.yahoo.com)
BERRY FLOOR (http://www.berryfloor.be)
Find it at Lumber Liquidators!
Subaru (http://www.subaru.com)
AMD processors (http://www.amd.com)
Flexjet (http://www.flexjet.com)
http://promomagazine.com/news/flexjet_armstrong_promo_033006/
Associates needing additional documentation:
--------------------------------------------------------------
Colombia (export commodities, cocoa leaves)
Tom Danielson coffee, Mt Washington brew
Ugandan Diamond / Gold Mine
Hein Verbruggen investments in Caribbean realestate development.
Livestrong (http://www.livestrong.com) [the commercial side]
Livestrong (http://www.livestrong.org) [the Cancer side]
Trek (http://www.trekbikes.com)
http://www.trekbikes.com/us/en/story/madone
and sub-brands such as:
Gary Fisher
Giro Helmets (http://www.giro.com/)
Giro is owned by Easton-Bell of Bell helmets (http://www.bellbikehelmets.com/)
http://livestrong.giro.com appears to be defunct. Maybe Bell has had a change of heart...?
SRAM (http://www.sram.com)
SRAM Components
Zipp Speed Weaponry Wheels
Nike (http://www.nike.com)
Oakley (http://www.oakley.com)
Radio Shack (http://www.radioshack.com)
Anheuser Busch (http://www.anheuser-busch.com/beerverified.html)
http://www.michelobultra.co m/
A-B has a depressingly large # of brands that prob. include something
you drink at some time. Even Kirin is A-B....
Honey Stinger (http://www.honeystinger.com)
FRS(?) Energy goop (http://www.frs.com)
Nissan
(http://www.nissanusa.com/leaf-elect...ric-car/video/view/lance_armstrong_talks_leaf)
Echelon Gran Fondo (http://www.echelongranfondo.org/) [in the form of donations to Livestrong]
Austin Marathon (http://www.youraustinmarathon.com/sponsors)
Eagle Golf
http://www.eaglegolf.com/eaglsites/courses/layout9.asp?id=155&page=6608
http://www.prnewswire.com/news-rele...ises-over-100000-for-livestrong-97894529.html
Facebook (http://www.facebook.com)
Mellow Johnnies (http://www.mellowjohnnys.com)
Juan Pelota Cafe (http://www.mellowjohnnys.com/juan-pelota-cafe/)
Demand Media (http://www.demandmedia.com)
http://paidcontent.org/article/419-...-in-demand-media-launching-wellness-site-tog/
Livestrong.com
eHow.com
Trails.com
GolfLink.com
Mania.com
Cracked.com
Bristol-Meyers Squibb
http://www.bms.com/products/Pages/home.aspx
Bristol-Myers Squibb - Investors - News Release
Lance Armstrong Rides Again | Culture | Vanity Fair
AUL Retirement Services, American Century Investments® partner to offer LIVESTRONG® Portfolios
http://www.oneamerica.com/wps/wcm/c...tments+partner+to+offer+livestrong+portfolios
https://www.americancentury.com/funds/fund_facts.jsp?fund=956
LIVESTRONG Income Portfolio. Fund Fact Sheet as of 6.30.2010 ...
LIVESTRONG is a trademark of the Lance Armstrong Foundation. ...
https://iua.americancentury.com/iua/pdf/factsheet/LIVESTRONGIncPortfolio_multi.pdf
Hotel Le Toiny
http://www.letoiny.com/
One Bedroom Villa Suite
EUR 710.00
One bedroom Villa Suite- 785 sqf- king - ocean view-private pool-terrace
24 Hour Fitness (http://www.24hourfitness.com/health_clubs/signature.../armstrong)
CSE (http://www.planetcse.com/event.asp)
Austin City Limits
Discovery Channel Cycling Team
FRS
Mellow Johnny's
Le Toiny
Lollapalooza
Tour of Hope
****'s Sporting Goods
http://www.dickssportinggoods.com/livestrong/?ab=OAS_Brandbar:Livestrong
Past Associates
--------------------------------------------
USPS (http://www.usps.com)
YAHOO (http://www.yahoo.com)
BERRY FLOOR (http://www.berryfloor.be)
Find it at Lumber Liquidators!
Subaru (http://www.subaru.com)
AMD processors (http://www.amd.com)
Flexjet (http://www.flexjet.com)
http://promomagazine.com/news/flexjet_armstrong_promo_033006/
Associates needing additional documentation:
--------------------------------------------------------------
Colombia (export commodities, cocoa leaves)
Tom Danielson coffee, Mt Washington brew
Ugandan Diamond / Gold Mine
Hein Verbruggen investments in Caribbean realestate development.
Surprised nobody has mentioned he owns Phil Liggett and Paul Sherwen, they must be worth at least $2000
Reminds me of what happened to Enron - how they were brought down by their own accounting procedures & the reports of those accounts that they put in the public domain. It was all there for anyone who knew how to look...
Tubeless said:
This is actually untrue.
I've had several friends who came down with cancer who've delt with the LAF. Essentially, their goal has always been to help those who are fighting/suffering from/recovering from cancer. They provide information and resources to cancer survivors.
And yes, some of them are big Armstrong fans because they did get a lot of help on how to deal with the US medical system while getting treatment.
There are plenty of reasons to question the LAF. With 81% of their funds going to programs, they are only mildly efficient compared to other charities, and any money leak going to Lance needs to be examined. But don't confuse their goals with other charities. They are not focused on curing cancer (though they used to put a small amount of money toward cancer research). And they aren't about "awareness"... that was Lance's little fiction about his comeback last year.
They are a charity to aid cancer survivors.
kurtinsc said:
Does this service include selling them Nike's and beer? How does chalk and signs help them get better?
Race Radio said:
They don't pay for that.
They have a brand. They license that brand to other companies (such as Nike or Demand Media). Those companies pay them a flat fee or a percentage of sales.
LAF is in an interesting position for a charity (or was perhaps) because of the value of the Livestrong brand which the charity owns. That's how they raised a huge portion of their funds... by licensing the use of the "livestrong" name.
Very few charities have that ability. Would Nike pay to use "American Diabetes Asssociation" on a bracelet? Nope... it's not an avenue of fundraising available to them. But it's a primary avenue for the LAF.
And I don't think there is a Livestrong beer. Lance markets beer, but if you don't see the word "Livestrong" then you know the charity isn't getting a piece.
All the bracelets, chalk robots, and other stuff is not paid for by the charity. Most of it is done by Nike... and they foot the bill because they sell more Livestrong crap by doing so. The LAF gets a piece of that... but it's part of their license agreement with Nike. Any cost to the charity would probably be in paying for the lawyers to set up the contract.
kurtinsc said:
Pretty easy to have a 100% success ratio "fighting" cancer when you cherry pick the candidates ex post facto.
Cancer survivors need very little assistance compared to cancer patients.
kurtinsc said:
All charities that I know of calculate their overhead as being their own cost of running the operation. And the rest is donated to the intented cause. And LAF? The 81% includes items such as:
- salaries and wages
- travel
- advertising
- payroll taxes
- bank service fees
- retirement plan contributions
- professional fundraising fees
Check yourself. Page 27/33 of http://www.livestrong.org/pdfs/4-0/2008-2009combinedauditreport. You get the 81% via diving "Program expenses" by "Total" - $28,833,066 / $35,284,215.
Their own web site info about "Where the money goes" tries to pitch this way of accounting as the charity-standard - 81% is actually good and looks great on a chart like this (the numbers aren't an exact match with the audit report, but close):
http://www.livestrong.org/What-We-Do/Our-Approach/Where-the-Money-Goes
As for their mission, it's hard to find that written anywhere on their web site. Rather than speak for the LAF, I've picked a few of their noted accomplishments in their own words from here http://www.livestrong.org/Who-We-Are/Our-History/Milestones:
- 2005: The LAF sells more than 55 million wristbands.
- 2005: The LAF awards $500,000 to assist survivors affected by Hurricane Katrina.
- 2005: Lance wins the Tour de France a record-breaking seventh time in a row.
- 2006: The LAF hosts the inaugural LIVESTRONG Summit.
- 2007: Distributes more than 34,500 LIVESTRONG Survivorship Notebooks to cancer survivors.
- 2008: Lance announces his return to professional cycling.
- 2009: Lance rides in the Tour of California, Tour Down Under, Milan-San Remo, Giro d'Italia, and other races, including the Tour de France, where he places third.
Sounds like a lot of "Lance Armstrong awareness" to me...
kurtinsc said:
That's the whole problem. How many other charities have a trademark that they license for money? LAF is a business pretending to be a charity. It sells products and services for money. It does a bit of "volunteer" work like most other businessess to stay in good standing in the society.
It has a brand and a registered trademark that it aggressively defends - and uses donors' money for legal fees to fend off serious challenges to its intellectual property by trademarks such as "PURRSTRONG" and "PAWSTRONG". The fact that it licenses its trademarks to other businesses, in the name of "cancer survivorship" would be harmless if it wasn't done to benefit another for-profit business enterprise called Lance Armstrong.
Well I guess Livestrong is doing a great job because his advertising is trolling in tTubeless said:
he haters also.
kurtinsc said:
They don't pay for the chalk? The livestrong van that drove the ToC course urging people over the loudspeaker to "Get ready to cheer for Lance"?
Hard to tell where the money goes. Very little detail, just awareness.......awareness of the Lance brand.
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