Summary Box: fed probe of doping allegations could hurt foundation arm of Lance Armstrong Inc.
By APTuesday, August 3, 2010
Summary Box: Drug probe risks Armstrong foundation
THE LEGACY: Cycling champion Lance Armstrong is a well-paid pitchman but his richest legacy is riding on Livestrong, the cancer foundation he started 13 years ago after overcoming the disease.
THE FOUNDATION: The foundation has raised $325 million since its inception and was nation’s 10th largest cancer foundation, based on revenue in 2008, according to research firm GuideStar.
THE RISK: Philanthropy experts say donations to the foundation are at risk now that the federal government is investigating allegations that Armstrong took banned drugs and tried to cover it up.
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