by Greg Lee
When I speak to outside groups at business functions, I am often asked a couple of questions:
- What are the primary sources of revenue for the foundation?
- Where does the money go and what programs are funded with donor contributions?
Both of these are excellent questions and we thought it would also be a good topic to share with our constituents.
What are the primary sources of revenue for the foundation?
- The foundation has raised over $400 million in revenues since inception in 1997.
- The foundation generates its revenues from a variety of sources. General giving from the public represents 34%, Fundraising Events (like the LIVESTRONG Challenge) generate 24%, Merchandise Sales ? 22%, and Cause Marketing and Business Development Initiatives generate 14%. A few miscellaneous sources comprise the remaining 6%.
- Each year we are fortunate to receive contributions from more than 215,000 donors who support our programs and are anxious to see our programs continue and our reach of new initiatives expanded.
Where does the money go and what programs are funded with donor contributions?
Non-profit industry standards suggest that leading charitable organizations should spend at least 65-75% of their expenses on program services. This helps ensure that the majority of donor dollars are devoted to specific programs and not used to cover administrative overhead or fundraising expenses. At the foundation, more than $245 million (81% of each dollar spent) has been invested directly in cancer programs, initiatives, and advocacy efforts to change the way the world fights cancer.
- $135 million (55%) has been spent on specific Cancer programs and initiatives. A few examples: 2011 plans to serve over 325,000 people with LIVESTRONG at the YMCA, LIVESTRONG at School, and Community programs. Our Cancer Navigation Services reach more than 600,000 each year. Our Young Adult programs reach 22,000, our Hispanic/Latino programs help 34,000.
- $78 million (32%) has been spent on Research, Community Program, Centers of Excellence Grants and Awards. A good example of this is our current Community Impact Projects where we are selecting 90 community based non-profits all over the country that will receive LAF funding to provide specific programs right in their local communities. We are planning to award over $700,000 to these groups.
- $32 million (13%) has been spent on Advocacy and Engagement activities and initiatives. Good examples of these initiatives are our current Smoke Free initiatives and campaigns being conducted at local and statewide levels throughout the nation.
At LIVESTRONG we pride ourselves in financial transparency. We will be posting more of these blogs throughout the year. More information about our financials can be found on our 990s and annual reports on our website. If you have any specific questions about LIVESTRONG?s finances, please leave them in the comments section below. We will answer them as soon as possible.