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CharityWatch, which analyzes the work of approximately 600 charities, lists the foundation among its top-rated organizations. That status normally goes to groups which “generally spend 75 percent or more of their budgets on programs, spend $25 or less to raise $100 in public support, do not hold excessive assets in reserve,” and disclose basic financial information and documents.

Livestrong says it had functional expenses totaling nearly $35.8 million last year and 82 percent of every dollar raised went directly to programs, a total of more than $29.3 million.

The foundation reported a spike in contributions in late August in the days immediately after Armstrong announced he would no longer fight doping charges and officials moved to erase his Tour victories.

Daniel Borochoff, founder and president of Chicago-based CharityWatch, said last week it may take some time for donors to digest the allegations against Armstrong.

“Individuals that admire and support an individual who is later found out to be severely tarnished, don’t want to admit it, don’t want to admit that they’ve been duped,” Borochoff said. “People, though, do need to trust a charity.”