SBD/Issue 64/Sports & Society

LeBron James Family Foundation To Cut Staff; Bikeathon Remains

James' Summer Bikeathon Will Be Produced
By Consultants This Year Instead Of Staff
Cavaliers F LeBron James' nonprofit organization, the LeBron James Family Foundation (LJFF), which had "only recently improved its balance sheet and aligned itself with several high-profile corporate sponsors, is cutting its small staff and scaling back some charitable involvement -- but not" the summer bikeathon, according to Bill Lubinger of the Cleveland PLAIN DEALER. James said, "I am going to continue to be active in the community, especially with the bikeathon. There are going to be some more things next summer. I don't think it is going to change it. Basically, it will allow the guys around me to focus." Lubinger notes in order to "lower administrative costs," the LJFF "will produce the bikeathon with consultants instead of staff." LRMR Marketing CEO and LJFF VP & Treasurer Maverick Carter said, "It was decided there is no need for a full-time staff. ... The LJFF staff will complete the Phoenix event (building a playground during NBA All-Star weekend), and the 2009 bikeathon will be outsourced." Lubinger notes the foundation's '07 tax filing indicated that the nonprofit reported net income of $193,071 and net assets of $198,854. LJFF made $225,847 in charitable contributions (Cleveland PLAIN DEALER, 12/16).

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