Why Philanthropy Is Good for Your Equine Business

Those who run equine businesses that give back to the community enjoy many benefits, including the "feel-good" reward of giving back.
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Giving back can mean your business benefits from your generosity.

Giving back has many benefits. The most obvious is helping an organization, an individual or an animal. Whether it's introducing potential newcomers to the industry or providing support for the neediest horses and riders, philanthropy provides support these people and horses otherwise wouldn’t have.

“We as professionals have to be philanthropic so that the youth riders and the amateurs can see the importance of giving back and getting involved,” said Adam D’Agostino, head coach of the Albion College Equestrian Team.

The motivating reason for participating in philanthropic activities should be a desire to give back. The beauty of giving back is that the giver—the stable, the riders and the horses—benefit from the generosity, too.

Networking

Giving your time to charity events, in and out of the horse industry, has the potential of introducing you to new clients and other influential individuals whom you can later call upon for support.

Employee Satisfaction

Each year Great Place to Work and Fortune magazine publish a “Best Places To Work" list. In preparation for that list, a survey asks employees about their views of businesses who contribute to volunteer efforts. In 2018, the survey revealed “staffers who believe their organizations give back to the community are a striking 13 times more likely to look forward to coming to work, compared to employees who do not perceive their employers to be generous toward the community.”

Tax Deduction

Donations made to to non-profit entities are often tax deductible. Talk with your accountant or financial planner for specific details on how this impacts your barn, but making a financial contribution to a charity of your choice can help your bottom line.

Marketing

Being identified as a supporter of a charity event or a fundraiser increases your visibility in the local community and the community at large. These days, customers like to support businesses they know are supporting philanthropic causes.

In essence, good begets good. Those who run equine businesses that give back to the community enjoy many benefits, including the "feel-good" reward of giving back.