Racing Foundation publishes a Review of its activity for 2017 and looks to the future
Sunday, 20 May 2018
The Racing Foundation is delighted to publish a Review of its activity for 2017, which witnessed a continued rise in the number of applications received and the number of grants awarded, the latter of which totalled more than £3.2million (40% higher than 2016).
Since inception, the Racing Foundation has now pledged over £9.1million in support of a wide range of charitable projects and initiatives to help make a positive difference to the sport.
The Review shows that Social Welfare and Training & Development projects were the largest beneficiaries of funding and the highest single grant award was made to the Injured Jockeys Fund in support of the capital development of its rehabilitation centre in Newmarket - Peter O’Sullevan House. There was also significant investment in a number of new training initiatives and a national Occupational Health Service for racing’s staff.
As part of a growing interest in supporting projects that will help build knowledge and inform long-term strategies to key issues, the Foundation funded research into mental health, concussion, gender diversity, as well as equine vision which made the headlines.
The central aim of the Racing Foundation remains that findings and recommendations from work it funds will be used for the wider benefit of the sport. Indeed this is already the case with the collaborative response to the findings of the gender diversity research which has led to the creation of the Diversity in Racing Steering Group.
2017 also witnessed a period of transition for the Racing Foundation as we entered a new era of giving through the development of our strategy covering 2018-2020. In response to stakeholder feedback the new strategy includes the availability of £10million in cash for grant awards over the next 3 years; the availability of loan capital for relevant industry projects; greater alignment with industry strategies and a concentration on people and horses.
By the summer of 2017, in the dawn of a new era, an entirely new Trustee Board was in place at the Racing Foundation, after the extended term of the last remaining founding Trustee, Sir Ian Good, came to an end. He was succeeded as Chairman by Ian Barlow, who is working alongside Linda Bowles, Mark Johnston, Jane Keir and William Rucker as Trustees.
We are delighted to also announce the recent appointment of Susannah Gill as a Trustee, who brings with her a wealth of communications experience and industry knowledge that will greatly enhance awareness of the work of the Racing Foundation and the charities we support.
Finally, we have also undertaken a detailed analysis of grant awards and are delighted to report that 96% of grants awarded, to date, achieved their output targets and 92% recorded positive outcomes. As part of our 2018-2020 strategy a commitment to increased responsibility for results has led to a number of additional key performance indicators being put in place that will enable an even greater evaluation of impact moving forwards.
For a full pdf version of the 2017 Review, please click here>.
To see a copy of the Racing Foundation’s 2018-2020 Strategy, please click here>.
To find out more about our Trustees, please click here>.