A sponsorship is a contribution made to support the organization or to support a more specific activity like a program or special event. Sponsors can be companies or individual constituents. Sponsorships typically include some benefits to the sponsor in exchange for the contribution. Benefits can include things like recognition, such as promoting the relationship with advertising, signage, or other types of communication. Benefits could also include things like tickets or a table for an event, t-shirts, or plaques.
As an example, a local grocery store sponsors a soup kitchen with financial donations and food donations. The grocery store could receive recognition from the soup kitchen through signage at the site, in the soup kitchen's newsletter to it's constituents, by posting the grocery store's logo on the soup kitchen's website, and a press release written and distributed by the soup kitchen staff. Similarly, a business that sponsors a golf tournament may receive tickets for a golf foursome, their logo on the t-shirt, and an ad in the event program.