what is the meaning of "sponsored?"

1. (of a project, activity, etc.) provided with funding by a particular organization or body. "in the past, sponsored research made up two thirds of the budget" 2.denoting a fundraising event or activity in which each participant obtains promises from sponsors to donate a certain amount of money for the participant's completion of the activity. "he's gearing up to take part in a 14 mile sponsored walk to raise money for a local animal charity"