It was recently announced that approximately $20 million has been raised via the yellow bracelets thus far and with a significant amount on back order, the organization has no plans of slowing up anytime soon. The Houston Chronicle reported that the latest trend in fundraising has charities copying the bracelet, hoping for similar success:
"Charities and causes of all stripes are rushing to cash in on the popularity of the Lance Armstrong Foundation's yellow wristband.
A rainbow of wristbands are now being sold to promote awareness of everything from breast cancer to high medical malpractice premiums for doctors.
The trendy silicone rubber bracelet produced by the cycling superstar's cancer-fighting organization is imprinted with the motto "Live Strong." This week, the foundation will announce that it has sold 20 million wristbands at $1 each, the Austin American-Statesman reported today.
Proceeds go toward programs for young people with cancer."
That is 77% of the proceeds. The remaining goes to "overhead". Seventy-seven cents on every dollar are promised to go to "research". Because of the nature of and sensitivity surrounding such a cause, the regulation of funds received for "research" is not generally brought under suspicion.
Still, with the rise in the wristband's popularity, the opportunists have come out. Since the bracelets are in such high demand (month-long back order) The Detroit News reported on the rising trend in eBay price-mongering:
"...the yellow rubber wristband with the words “Live Strong” has become the fashion statement of the times.
Unfortunately, this hot new trend also has become the folly of some opportunists on eBay, who can’t resist a two-bit profit on an otherwise humanitarian effort....thanks to some heartless people, the yellow bands are now reselling on eBay for upward of $20 and the sellers are pocketing the profit.
“We are extremely disappointed that eBay has refused to take these auctions down,” Michelle Milford, a spokeswoman for the foundation, told me.
Milford says the foundation receives an average of 200,000 orders in a single day. The nonprofit’s warehouse can only produce 600,000 a week.
For those that may not know, Nike gave $1 million in seed money to kick off the Armstrong Foundation's campaign. A few discerning ones have been wise to note that the yellow wristband trend is extremely clever marketing on the part of Nike who partnered with the foundation to mass produce the bracelets. Undoubtedly, the funds raked in as a result of other Live Strong merchandise sold (e.g. shorts and t-shirts) far outweigh the current $20 million raised thus far in the campaign. And as far as I know, those funds aren't being donated to cancer research.
This isn't a knock against those who choose to support the cancer cause by purchasing or wearing this bracelet. I in fact probably have one somewhere in my disorganized junk drawer. If anything, my raised eyebrows exist simply because I see an area of permissibility in America that often goes unquestioned. Americans will generally give to any cause that seems "good" because for the most part, we all need to appease our consciences and make up for the lack of charity we show the rest of the year. Still, I feel more inclined to seek out other ways to help this cause. There's too much room for my dollars to end up in the wrong hands.
Are we headed in the right direction towards finding a cure? Draw your own conclusions.
77% isn't a very good number, but I don't know how much the actual bracelet costs to produce, package, and mail. I can believe 23 cents to get a bracelet out.
On the other hand a few years ago the fad was WWJD bracelets. Did any portion of that money go to charity? I betting it all went into some fashion accessory company's pocket. Just playing a little devils advocate here.