Sponsoring something or someone means providing an organisation, person, event, or activity with financial, service, or product support. As the person providing this critical support, you become the benefactor or sponsor. Taking part in a project sponsorship opportunity does more than just support a cause you are passionate about. Apart from helping a cause that needs your support, individual sponsorship at the grassroots level can also be deeply rewarding for you. Millions of people in Ireland are sponsoring charity events, artists, and more regularly. However, why is giving so gratifying? Here are some of the biggest benefits you earn from being a sponsor.
In the corporate world, sponsorship provides access to the commercial potential associated with the cause. While the beneficiary might be a nonprofit, companies expect a commercial return. But there are sponsor benefits an individual can realise.
Event Individual and Company Sponsorship Programs Bring More Opportunities
Event sponsorship is the backbone of many events in Ireland. When done strategically, event sponsorship can bring significant benefits to individual and business sponsors. You can be a cash sponsor who offers the financial support required to host an event for perks such as front row seats, backstage passes, or even a chance to interact with artists.
Making enthusiastic and regular contributions are contagious and inspire more people around you to take part and make a difference in something you care about. In-kind sponsorship involves providing services or goods instead of currency. Sponsoring your services or through products helps event organisers reduce their costs significantly. Plus, you are likely to meet like-minded people and learn new skills that you can add to your resume.
Financial Benefits When You Sponsor a Charity
In Ireland, it is possible to get tax relief for helping your local rugby, soccer club, or artist. The charities and clubs can reclaim tax from revenue on your behalf. Workers under the PAYE program can receive the tax benefit as long as they contribute a minimum of €250 per year.
Self-employed individuals may claim tax relief for themselves. For example, an individual with 41% income tax rate can contribute €1,000 in form of sponsorship. The actual cost of the sponsorship to you is calculated as €590 due to tax relief you receive of €410. The beneficiary receives the full amount of €1,000.
A Chance to Show Gratitude
Life today can get busy. Sometimes, it is easy to forget the importance of showing your gratitude for all that the local community has given you. There are thousands of charities and causes carrying out critical work around the world and in the country. When you are ready to give and looking for a sponsorship program to support, it reminds you of all you have and giving expresses your feelings of gratitude, and it feels good.
Inspire more people to support worthy causes by sharing these sponsor benefits on social media. Sharing the experience of sponsoring an event or charity with children shows them they can make a positive change in the world – even at an early age. Young ones are naturally drawn to helping others, so nurturing their inbuilt generosity means they grow up appreciating what they have, and they will carry on supporting sponsorships and charities for years.