Livestrong's Next Chapter: Life After Lance

For 15 years, the Livestrong Foundation rode Lance Armstrong’s success as a professional cyclist to the top of the nonprofit world, becoming a $500 million global brand at its peak.

The superstar athlete’s dominance in cycling brought Livestrong tons of positive publicity, well-funded business partners and a platform that allowed the Austin-based nonprofit to broadcast its message of fighting cancer to the world. For example, the group’s iconic yellow wristbands—a partnership with Nike—have reached 87 million people since they were first produced in 2004.

But beginning in 2012, when the U.S. Anti-Doping Agency accused Armstrong of doping...