The Swimathon Foundation owns the assets comprising the Swimathon fundraising event which includes: intellectual property, commercial rights, data and confidential information. The Swimathon Foundation is a company limited by guarantee and a registered charity. The Foundation, through its wholly owned trading company Swimathon (Trading) Limited, has delegated the organisation, operation, management and promotion of the Swimathon event to its appointed event management company, Limelight Sports Ltd.
The major benefiting charity pays a rights fee to the trading company and this fee, together with event entry fees and a cost contribution from the Foundation, meets the cost of running Swimathon. The charitable funds raised are held and distributed separately in agreed proportions to the major benefitting charity and to the Swimathon Foundation. Any funds received by the Foundation are held for the purposes of sustaining the Swimathon event and running the Foundation’s own grants scheme.
The competitive selection process is by invitation only and the choice of Charity is the decision of the Trustees. The current Charity beneficiary for 2013 is Marie Curie Cancer Care. The selection process for future beneficiary charities is currently in progress and an announcement will be made when completed.