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The Racing Foundation

The Racing Foundation was established in January 2012 by its founding members, comprising the British Horseracing Authority, The Horsemen’s Group and the Racecourse Association.

It was set up with an endowment from the net proceeds of the UK government’s sale of the Tote with the principle aim of supporting charitable purposes associated with the horseracing and Thoroughbred breeding industry. It does this by investing funds to generate investment income and using the income to make grants to appropriate charities.

Our Strategy

The Racing Foundation's strategy for 2015-2018 is set out below.

APPROACH

The Racing Foundation adopts an approach that:

  • Reflects our independence and long-term perspective.
  • Balances the needs of current and future generations.
  • Develops supportive relationships with charities, based on mutual trust and respect.
  • Encourages continuous improvement, reflection and learning.

STRATEGIC AIMS

1) To deliver a portfolio of grant schemes that will make a difference to racing's participants, both human and equine:

a) The Foundation will manage a range of open application grant programmes. These include:

  • An innovation programme, which will provide grants to investigate, develop and trial new ideas or new ways of working.
  • An organisational development programme, which will provide grants and training support designed to build the organisational capacity of racing charities.
  • A continuity programme, which will provide grants to sustain activities that are proven to be effective but are at risk of closure due to the termination of existing funding. Grants will provide temporary funding whilst organisations seek alternative long-term funding.
  • A small grants programme, which will provide grants to charities for small projects associated with the racing industry.
  • An equine science research grants programme, which will provide grants for applied research in the field of equine science insofar as the research has demonstrable practical benefits to Thoroughbred horseracing.

 b) The Foundation will also fund three initiatives that aim to draw together charities and make significant progress in:

  • Enhancing injury rehabilitation services for racing's people.
  • Creating development opportunities for racing's people.
  • Developing a co-ordinated approach towards equine welfare provision for the Thoroughbred breeding and racing industry.

c) The Foundation will implement and continuously review arrangements for the effective assessment of grant applications and decision-making.

2) To encourage and help charities work together:

  •  Support collaboration among organisations where it is appropriate.
  • Liaise with racing industry funders and other charitable foundations to co-ordinate and increase resources available for racing charities.
  • Capture, share and apply learning from the activities we fund.

3) To manage resources effectively in support of the Foundations's objectives:

  • Maintain and develop effective systems of governance that supports our work, including the introduction of new Trustees.
  • Consolidate the management and oversight of our long-term investment portfolio to support our grant making programmes.
  • Deliver a range of communications output designed to inform key stakeholders of our work and share the successes of the charities we fund.


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