Racing Foundation publishes three-year strategy to assist the industry to develop collaborative and strategic approach

·  Document outlines the Racing Foundation’s position on aligning with industry strategies, supporting research, measuring impact and how it will give across its three annual funding rounds.

·  The funding cap on its small grants programme has increased to £30,000 and the removal of the previously established five-year multi-funding cap will be considered in certain circumstances.    

The Racing Foundation has today launched a three-year strategy to support the delivery of its purpose to work in partnership with the racing industry to help achieve a sustainable future for the sport.

In 2012, the Racing Foundation was established to oversee the distribution of funds to charitable causes within the racing and thoroughbred industry following the sale of the Tote.

Since inception, it has awarded over £39million in grants to a number of worthy causes in horseracing.

The latest strategy, which covers the years 2025 to 2027, has three key areas of focus:

· Racing’s People – welfare, education and training, recruitment and retention, equality, diversity and inclusion.

· Equine Welfare – safety, traceability, aftercare and equine science research.

· ESG (Environmental, Social and Governance) – environment, social impact, youth and community engagement, social license and accountability.

The ambition of the Racing Foundation across this strategy cycle is to develop understanding and action around the key charitable issues facing racing and to assist the industry with developing a collaborative and strategic response.

As requested by stakeholders, the Racing Foundation will maintain its role as an enabler rather than a leader across the three-year period.

Tansy Challis, the Racing Foundation’s Chief Executive, said: ‘We continue to recognise the importance of developing industry strategies and acknowledge the progress that has already been made. However, the development of cross-industry strategies in our key focus areas are currently at different stages, so we will monitor their evolution and review the situation at the end of 2025.

“It is important for the Racing Foundation to remain flexible and agile in the way we give, to enable us to respond to emerging industry needs, although we are also required to protect the value of the endowment to ensure a longer-lasting legacy for the sport. This means that throughout our strategy period, we will work to balance the requirements of present beneficiaries for immediate support with the need to maintain the value of the capital for future projects and charitable initiatives. Our annual budget for grant making and other charitable expenditure will initially be based on the market performance of our investments, although this may be reviewed and adjusted at the discretion of our Trustees.

“Over the next three years, we look forward to working with delivery partners and industry stakeholders to identify overarching targets and set robust practices for impact measurement. This will enable us to monitor the progress of the projects we are funding and assess the difference they are making.

“By the end of this strategy period, our aim is for our funding to have had a positive and demonstrable impact in our key areas of focus. We will track the outcomes of our grants against three strategic objectives: fund action, build understanding and prompt collaboration.”

During the Foundation’s previous strategy period of 2021-24, a total of £17.6m was awarded in grants. A strategic review outlining what was achieved with this funding achieved is available on the Racing Foundation website. To read the Racing Foundation’s 2025 – 2027 strategy, click here.