Livestrong.org - how is it regulated?

[richardp]

I have searched its website, checked on the web, but cannot discover if there is any external regulation of its activities. Whilst it produces audited financial statements, and has obtained IRS tax exemptions, is there any US regulator for organisations that fundraise in this way?

By way of comparison, in the UK, such fundraising would be conducted by a charity run by a board of trustees and would be licenced and regulated by the Charity Commission, who have powers of investigation and can close down charities in certain circumstances.

Given the many questions about the .Com/.Org relationship, is the only way to find out more about it to ask their management, or is there recourse to an independent body that has power to investigate?

Just curious if self regulation is the answer.

 

[DirtyWorks]

Good Question!

In the U.S. to the best of my knowledge an organization categorized as a 'non-profit' is not required to spend much money in the pursuit of a cause. Rules vary depending on the category of non-profit it claims with the IRS.

If Tailwind is behind livestrong, it's right to question/investigate the entities business practices. However, it requires a great deal of tax/accounting expertise, and some non-profit law to begin clearing the obfuscation between .com/.org.

Management will artfully respond to anyone asking questions. We need a forensic accountant.