Funding the IEC
The majority of the IEC’s costs are funded by the fees that it charges for its day-to-day diagnostic services. In addition, the IEC receives annual grants from Horse Racing Ireland and the Irish Thoroughbred Breeders Association via the Foal Levy; contributions from Weatherby’s Ireland; and contract research, teaching and research grants. These third-party contributions account for approximately one third of the IEC’s annual cost base.
The IEC also undertakes work across a varied range of areas, including diagnostic work in cattle, sheep and pigs and safety testing in food and animal products. Not only does this additional work help subsidies the costs of maintaining the IEC’s services to the Irish Horse industry, it also ensures that our complex laboratory machinery is operational throughout the year, including times when the equine diagnostic activity may be reduced, such as after the breeding season. It also provides opportunities for our scientists to learn different testing techniques that could be transferred to equine applications.
The Irish Equine Foundation Ltd – trading as the Irish Equine Centre – is a registered charity. The Trust also seeks to raise money through fundraising events such as the annual Irish Equine Centre Golf Classic, private donations and legacies. The funds raised by the Trust since its creation have proved fundamental to sustaining the ongoing and vital work of the IEC.