CharityWatch reduces the grade of any charity that has available assets equal to three to five years of operating expenses. Charities with "years of available assets" of more than five years receive an "F" grade regardless of other measurements. In CharityWatch's view, a reserve of less than three years is reasonable and does not affect a charity's grade. These reductions in grades are based solely on the charities' asset reserves as compared to budget. The CharityWatch definition of "years of available assets" includes funds currently available for the charity's use, including investments that the charity has set aside as a reserve but could choose to spend if it wanted to do so. Livestrong Foundation's letter grade rating has been downgraded because it has 3 or more years of available assets.
See Our Process to learn more about how CharityWatch considers a charity’s asset reserves and the High Asset List for a list of charities whose ratings have been reduced due to high assets.
| Entity | Document Type | Tax ID |
|---|---|---|
| Liverstrong Foundation | Audited Financial Statements | 74-2806618 |
| Liverstrong Foundation | IRS Form 990 | 74-2806618 |
|
Entity: Liverstrong Foundation Document Type: Audited Financial Statements Tax ID: 74-2806618 |
|
Entity: Liverstrong Foundation Document Type: IRS Form 990 Tax ID: 74-2806618 |
| Name | Title | Compensation | |
|---|---|---|---|
| 1 | Greg D Lee | President/CEO/Grants Officer | $385,458 |
| 2 | Suzanne Stone | Interim President | $178,002 |
| 3 | Abigail Klish | Director, Accounting | $119,801 |
|
1 Name: Greg D Lee Title: President/CEO/Grants Officer Compensation: $385,458 |
|
2 Name: Suzanne Stone Title: Interim President Compensation: $178,002 |
|
3 Name: Abigail Klish Title: Director, Accounting Compensation: $119,801 |
According to The Livestrong Foundation audit of December 31, 2022 (Note 7, Grants Payable): "Conditional grants payable are not recorded as grants payable in the statement of financial position until the condition has been met. As of December 31, 2022, the Foundation had an aggregate of $27,280,975 in conditional grants payable to others to be paid through 2024, of which $27,205,000 related to a $50 million pledge agreement with UT and the Institutes. The Institutes is pioneering patient-centered cancer care and radically changing, revolutionizing, and re-inventing the way cancer patients are cared for. Payment for the Institutes are conditioned up satisfactory achievement of agreed upon metrics and milestones. No amounts were recorded related to this agreement during the year ended December 31, 2022. The parties are modifying the initial terms of their existing agreement. " |
According to The Livestrong Foundation IRS Form 990 tax filing of December 31, 2022 (Schedule M & Schedule D, Part XII), the Foundation received in-kind goods and services in fiscal 2022 on which it placed a total value of $139,105. [Note: CharityWatch generally excludes the value of in-kind (non-cash) donations of goods and services from its calculations of Program % and Cost to Raise $100. More information on how grades are calculated and the treatment of in-kind donations can be found on the Our Process page.] |