Basically, according to Bill Gifford's reporting:
Most people—including nearly everybody I surveyed while reporting this story—assume that Livestrong funnels large amounts of money into cancer research. Nope. The foundation gave out a total of $20 million in research grants between 1998 and 2005, the year it began phasing out its support of hard science. A note on the foundation’s website informs visitors that, as of 2010, it no longer even accepts research proposals. Nevertheless, the notion persists that Livestrong’s main purpose is to help pay for lab research into cancer cures.
(Photo by Flickr user Fuzzy Gerdes)
The Dish 