FILE - This Aug. 24, 2009 file photo shows Lance Armstrong during the opening session of the Livestrong Global Cancer Summit in Dublin, Ireland. Armstrong said Wednesday, Oct. 17, 2012, he is stepping down as chairman of his Livestrong cancer-fighting charity so the group can focus on its mission instead of its founder's problems. The move came a week after the U.S. Anti-Doping Agency released a massive report detailing allegations of widespread doping by Armstrong and his teams when he won the Tour de France seven consecutive times from 1999 to 2005. (AP Photo/Peter Morrison, File) (Photo: )
As the foundation celebrates its major milestone days after Lance Armstrong stepped down as chairman, and sponsors Nike, RadioShack, Trek, and Anheuser-Busch parted ways with the cyclist, the question remains: What will happen to the Livestrong Foundation?
Philanthropy experts say the charity has a strong future -- that Armstrong's resignation is a blessing of sorts. "People remain aligned to the cause and the mission without being solely aligned to Lance Armstrong," Marian Stern, a philanthropy consultant and head of Projects in Philanthropy, told the Daily Beast.
The charity, founded after Armstrong's battle with testicular cancer, has raised $500 million. In 2010, when doping allegations began, the charity felt a dip in donations to $30 million. In recent months, ESPN reported that year-to-date revenues for the charity through Sept. 30, were up 2.1 percent to $33.8 million.
Separating Lance from Livestrong will be the charity's saving grace. Armstrong's resignation is a step in the right direction along with proper damage control from the charity's PR, according to the Daily Beast.
But, Richard Marker, a philanthropy expert and founder of New York University's Academy for Grantmaking and Funder Education, told the Daily Beast that he thinks Armstrong should "sever ties completely"with the charity rather than remaining on the Board of Directors.
On the plus side, Marker said he doesn't think the charity will suffer branding issues like the Susan G. Komen Foundation. Though Nancy Brinker stepped down as CEO of Susan G. Komen Foundation like Armstrong has, experts say Livestrong won't suffer the same fate because unlike Komen, its scandal wasn't directly linked to its cause.
Livestrong has taken precautions to distinguish itself from its famous founder. "Livestrong has institutionalized itself so that it will be protected from Mr. Armstrong's problems," Leslie Lenkowsky, a clinical professor of public affairs and philanthropic studies at Indiana University, told Businessweek, citing how the charity has diversified its sources of income, partnerships and programs.
"The Livestrong brand was more about the foundation and fighting cancer than it ever was about Lance Armstrong," Matt Powell, an analyst at consultancy SportsOneSource told the Wall Street Journal.
Still, in a philantropy.com article, Lenkowsky points out that unlike the case with many other celebrity charities, Armstrong embodies Livestrong's mission: he is a cancer survivor.
Kevin Gallivan, a 47-year-old cancer survivor, says that he, for one, is able to compartmentalize the scandal and the cause. "He can be a liar, and he is, but it's not going to affect my life in any way other than cancer," Gallivan told Businessweek. "I wear a Livestrong band on my wrist, and I will until the day I die."
Lance Armstrong, Floyd Landis
In this July 24, 2004, file photo, overall leader Lance Armstrong, right, of Austin, Texas, follows compatriot and teammate Floyd Landis, left, in the ascent of the La Croix Fry pass during the 17th stage of the Tour de France cycling race between Bourg-d'Oisans and Le Grand Bornand, French Alps.
Lance Armstrong
Lance Armstrong negotiates the route on the way to his second-place finish in the Power of Four mountain bicycle race at the base of Aspen Mountain in Aspen, Colo., on Saturday, Aug. 25, 2012. The race is the first public appearance for Armstrong since the U.S. Anti-Doping Association stripped him of his seven Tour de France championships and banned him for life from professional cycling.
Lance Armstrong
FILE - In this Feb. 15, 2011, file photo, Lance Armstrong pauses during an interview in Austin, Texas. Armstrong said on Thursday, Aug. 23, 2012, that he is finished fighting charges from the United States Anti-Doping Agency that he used performance-enhancing drugs during his unprecedented cycling career, a decision that could put his string of seven Tour de France titles in jeopardy. (AP Photo/Thao Nguyen, File)
ARMSTRONG
FILE - This July 25, 1999 file photo shows Tour de France winner Lance Armstrong being kissed by his wife Kristin, left, and his mother Linda after the 20th and final stage of the Tour de France cycling race in Paris. The superstar cyclist, whose stirring victories after his comeback from cancer helped him transcend sports, chose not to pursue arbitration in the drug case brought against him by the U.S. Anti-Doping Agency. That was his last option in his bitter fight with USADA and his decision set the stage for the titles to be stripped and his name to be all but wiped from the record books of the sport he once ruled. (AP Photo/Laurent Rebours, File)
Lance Armstrong
FILE - In this July 6, 2010, file photo, Lance Armstrong grimaces prior to the start of the third stage of the Tour de France cycling race in Wanze, Belgium. Armstrong said on Thursday, Aug. 23, 2012, that he is finished fighting charges from the United States Anti-Doping Agency that he used performance-enhancing drugs during his unprecedented cycling career, a decision that could put his string of seven Tour de France titles in jeopardy. (AP Photo/Christophe Ena, File)
ARMSTRONG JALABERT MC EWEN
FILE - This July 28, 2002 file photo shows Tour de France winner Lance Armstrong, center, flanked by best sprinter Robbie McEwen, of Australia, right, and best climber Laurent Jalabert, of France, after the 20th and final stage of the Tour de France cycling in Paris. The superstar cyclist, whose stirring victories after his comeback from cancer helped him transcend sports, chose not to pursue arbitration in the drug case brought against him by the U.S. Anti-Doping Agency. That was his last option in his bitter fight with USADA and his decision set the stage for the titles to be stripped and his name to be all but wiped from the record books of the sport he once ruled. (AP Photo/Peter Dejong, File)
ARMSTRONG
FILE - This July 23, 2000 file photo shows Tour de France winner Lance Armstrong riding down the Champs Elysees with an American flag after the 21st and final stage of the cycling race in Paris. The superstar cyclist, whose stirring victories after his comeback from cancer helped him transcend sports, chose not to pursue arbitration in the drug case brought against him by the U.S. Anti-Doping Agency. That was his last option in his bitter fight with USADA and his decision set the stage for the titles to be stripped and his name to be all but wiped from the record books of the sport he once ruled. (AP Photo/Laurent Rebours, File)
Lance Armstrong
FILE - In this Feb. 28, 2011, file photo, former cycling champion Lance Armstrong smiles during a news conference at the Cedars-Sinai Hospital in Los Angeles. The U.S. Anti-Doping Agency on Wednesday, July 11, 2012, granted Armstrong an extension of up to 30 days to contest drug charges while the seven-time Tour de France winner challenges the case in federal court. (AP Photo/Damian Dovarganes, File)
Lance Armstrong, Ivan Basso, Jan Ullrich
FILE - In this July 24, 2005 file photo, Lance Armstrong gestures from the podium after winning his seventh straight Tour de France cycling race, as second-placed Ivan Basso of Italy, left, and third-placed Jan Ullrich of Germany, look on, after the 21st and final stage of the race in Paris. Armstrong, he superstar cyclist whose stirring victories after his comeback from cancer helped him transcend sports, chose not to pursue arbitration in the drug case brought against him by the U.S. Anti-Doping Agency. That was his last option in his bitter fight with USADA and his decision set the stage for the titles to be stripped and his name to be all but wiped from the record books of the sport he once ruled. (AP Photo/Christophe Ena, File)
Lance Armstrong
Lance Armstrong, right, chats with other riders at the start line of the Power of Four mountain bicycle race at the starting line in Snowmass Village, Colo., early Saturday, Aug. 25, 2012. The race is the first public appearance for Armstrong since the U.S. Anti-Doping Association stripped him of his seven Tour de France championships and banned him for life from the sport.
Lance Armstrong, Keegan Swirbul
Lance Armstrong, front, talks to reporters after his second-place finish in the Power of Four mountain bicycle race at the base of Aspen Mountain in Aspen, Colo., on Saturday, Aug. 25, 2012. Race-winner Keegan Swirbul, 16, of Aspen, left, clapso his hand.
Lance Armstrong
Lance Armstrong guides his bicycle down the steps after his second-place finish in the Power of Four mountain bicycle race at the base of Aspen Mountain in Aspen, Colo., on Saturday, Aug. 25, 2012. The race is the first public appearance for Armstrong since the U.S. Anti-Doping Association stripped him of his seven Tour de France championships and banned him for life from professional cycling.
Lance Armstrong
Lance Armstrong listens at the World Cancer Congress in Montreal Wednesday, Aug. 29, 2012.
Lance Armstrong
Lance Armstrong speaks to delegates at the World Cancer Congress in Montreal Wednesday, Aug. 29, 2012.
Lance Armstrong
Lance Armstrong signs autographs for supporters after a run, Wednesday, Aug. 29, 2012, on Mont Royal Park in Montreal.
Lance Armstrong
Lance Armstrong talks to supporters prior to a run, Wednesday, Aug. 29, 2012, on Mont Royal Park in Montreal.
Lance Armstrong
Lance Armstrong competes in the Rev3 Half Full Triathalon Sunday, Oct. 7, 2012 in Ellicott City, Md. Armstrong joined other cancer survivors in the event which raised funds for the Ulman Cancer Fund for Young Adults.
Lance Armstrong
Lance Armstrong crosses the finish line of the Rev3 Half Full Triathalon Sunday, Oct. 7, 2012 in Ellicott City, Md. Armstrong joined other cancer survivors in the event which raised funds for the Ulman Cancer Fund for Young Adults.
Lance Armstrong crosses the finish line of the Rev3 Half Full Triathalon with his ten-year-old twin daughters Grace, left, and Isabelle, right, Sunday, Oct. 7, 2012 in Ellicott City, Md. Armstrong joined other cancer survivors in the event which raised funds for the Ulman Cancer Fund for Young Adults.
Lance Armstrong
In this Aug. 25, 2012, file photo, cyclist Lance Armstrong prepares to take part in the Power of Four mountain bicycle race in Snowmass Village, Colo. With U.S. anti-doping officials set to issue their report on Armstrong's case, a lawyer for the cyclist on Tuesday again criticized the process which led to himn being banned from the sport for life.
Lance Armstrong
In this Aug. 25, 2012, file photo, Lance Armstrong considers a question from a reporter after his second-place finish in the Power of Four mountain bicycle race at the base of Aspen Mountain in Aspen, Colo.
Lance Armstrong
This April 1, 2012 file photo shows seven-time Tour de France champion Lance Armstrong grimacing during a news conference after the Memorial Hermann Ironman 70.3 Texas triathlon in Galveston, Texas.
This is a July 24, 2005, file photo showing overall leader Lance Armstrong, of Austin, Texas, surrounded by press photographers, signaling seven, for his seventh straight win in the Tour de France cycling race, prior to the start of the 21st and final stage of the race, between Corbeil-Essonnes, south of Paris, and the French capital.
Lance Armstrong
This July 5, 2004 file photo shows U.S. Postal Service team leader and five-time Tour de France winner Lance Armstrong, third from right, framed by his teammates as the pack rides during the second stage of the 91st Tour de France cycling race between Charleroi and Namur, Belgium.
Lance Armstrong, George Hincapie
This March 21, 2009 file photo shows Lance Armstrong, of the United States, beside fellow countryman George Hincapie, left, during the Milan-San Remo cycling classic in San Remo, Italy.
Lance Armstrong
Lance Armstrong waits for the start of the Ironman Panama 70.3. triathlon in Panama City, Panama.
Lance Armstrong
This May 11, 2012, file photo shows cycling great and cancer survivor Lance Armstrong at a rally in favor of Proposition 29, at Children's Hospital in Los Angeles.
Lance Armstrong
Lance Armstrong (center) leads the pack coming to Jack's restaurant in Pleasant Grove, Ala., Friday, April 27, 2012,, on the fourth day of the Bo Bikes Bama charity bike ride on the one-year anniversary of the deadly Alabama tornadoes.
Lance Armstrong
From left, Bo Jackson, Lance Armstrong, Picabo Street and Ken Griffey, Jr. gather for a photo as the greeted fans and signed autographs in Pleasant Grove, Ala., Friday, April 27, 2012,, on the fourth day of the Bo Bikes Bama charity bike ride on the one-year anniversary of the deadly Alabama tornadoes. Jackson and about 140 bicyclists and the celebrity bikers rode from Cordova, Ala. to Bessemer, Ala. on Friday.
Lance Armstrong
Lance Armstrong waits for the start of the Memorial Hermann Ironman 70.3 Texas triathlon, Sunday, April 1, 2012, in Galveston, Texas. Armstrong finished in seventh place.
Lance Armstrong
Lance Armstrong competes in the Ironman Panama 70.3. triathlon in Panama City, Sunday Feb. 12, 2012. The race consists of a 1.2-mile swim, a 56-mile bike ride and a 13.1-mile run.
Lance Armstrong
Lance Armstrong competes in the Ironman Panama 70.3. triathlon in Panama City, Sunday Feb. 12, 2012. The race consists of a 1.2-mile swim, a 56-mile bike ride and a 13.1-mile run.
Lance Armstrong
Lance Armstrong competes in the Ironman Panama 70.3. triathlon in Panama City, Sunday Feb. 12, 2012. The race consists of a 1.2-mile swim, a 56-mile bike ride and a 13.1-mile run.
Lance Armstrong
Lance Armstrong competes in the Ironman Panama 70.3. triathlon in Panama City, Sunday Feb. 12, 2012. The race consists of a 1.2-mile swim, a 56-mile bike ride and a 13.1-mile run.
Lance Armstrong
Lance Armstrong competes in the Ironman Panama 70.3. triathlon in Panama City, Sunday Feb. 12, 2012. The race consists of a 1.2-mile swim, a 56-mile bike ride and a 13.1-mile run.
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