Banks are known to be some of the biggest corporate sponsors of events in communities across the country, especially golf tournaments. Corporations view these tournaments as a chance to gain exposure to new and existing clients and to create a friendly image. The latter is particularly important for organizations such as banks that may not be the most favoured of businesses.
The extent to which banks are able to sponsor and participate in tournaments is restricted or outlined in their internal policies. For example, TD requires that organizations must be Canadian and funding must stay in Canada and that organizations be registered charities that are able to provide a charitable tax receipt in order to receive any sort of sponsorship.
These sorts of golf tournaments are often attended by golfers of all talent levels and are typically played in foursomes. Some of the golfers will be well versed and experienced in golf, others may not golf often, if ever. If that sounds like you, here are a few of the elements of a charity tournament that go beyond just your typical golf game and that may entice you to want to play in more tournaments, or, if you are a big bank or organization, some fun ways to support and sponsor the tournament:
- Closest to the pin: The golfer who hits their ball closest to the pin wins. This means that their ball is closest on their first drive. Prizes can include big ticket items such as cars or smaller cash prizes.
- Silent auction: Companies can sponsor or support a tournament by providing items to be auctioned off at or after dinner. These are fun prizes to win and an added bonus for players.
- Hole in one: Sometimes, if you are some sort of golf prodigy and able to get a hole in one, you are the lucky winner of a car, a large cash prize or some other form of reward.