Keeneland Charitable Giving
Yes, everyone knows that Keeneland is widely known for its amazing horse racing events and famously known for the magnificent breeds of horses it auctions off each year for hundreds of thousands of dollars. What I want to talk about though, is how Keeneland gives back to the community and in particular the charities in which it strives to help and fund.
Keeneland only has two major events per year, one in the spring and one in the fall, but how do they make enough money from these events to fund upgrades for the track and still have enough money to help with charities? One big reason is because Keeneland is a non-profit organization, meaning that through all of the money it makes each year it will spend every penny on either improving the track or giving the money away. In 2005 there were 90 charitable organizations that received funding from Keeneland.(Press Release,2005) At that time Keeneland was giving around one million dollars away per year with a total of almost fourteen million throughout the years away. Typically the organizations that are recipients of funding have something to do with the benefit of the Kentucky community or with the Thoroughbred industry.
The Central Kentucky Blood Center received twenty thousand dollars in 2005 was being used to help build a new facility. Also, Mission Lexington received ten thousand dollars to build a downtown dental clinic to help families of Fayette County. Many other organizations like: Midway Home Place, arts and cultural organizations, University of Kentucky School of Music, Lexington Opera Society, Kentucky Educational Television, and many more were recipients of funding.
A big question I have is that if all of the income goes to either improving the grounds or going to charities, how are staff members paid? Or do all of the staff work as volunteers?
Citation:
Press Release. "Keeneland Annual Giving Exceeds $1 Million for 2005." the Horse. Press Release, 13 Dec. 2005. Web. 10 Oct. 2014.
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