The charity he founded in 1997 to help cancer survivors and their families after his own battle with testicular cancer is being re-examined by donors after the U.S. Anti-Doping Agency alleged last week the cyclist engaged in a "sophisticated, professionalized and successful doping program."
Armstrong stepped down as the charity's chairman, but appealed to donors to separate the accusations from the organization's work, CNN reported.
Connie and Daniel Roddy of Santa Monica, Calif., told the broadcaster they had donated $50,000 to Livestrong and helped others raise $150,000.
Connie Roddy said they'd like that money back, as Armstrong wasn't what he claimed to be.
"I feel we were really fooled," she said. "We were really hoodwinked."
The International Cycling Union is scheduled to make a statement Monday on its review of the USADA allegations.
Armstrong has denied the charges of using performance- and endurance-enhancing drugs.
He won seven Tour de France titles and a bronze medal in the 2000 Sydney Olympic Games, all of which could be rescinded.