Racing Welfare and Racing To School are set to benefit as Go Go Chicago represents The Good Racing Co this season.
Phil Hawthorne, the man behind the hugely-successful Burrow Seven racing club which raised over £100,000 for charity, has set up the new initiative which dedicates horses from its stables to raise funds and awareness for different causes.
The Good Racing Co aims to have eight horses racing for various charities within a year, with individual and business memberships to Go Go Chicago on sale, with profits divided between Racing Welfare and Racing To School.
Hawthorne said: "We've already raised £100,000 for charity through Burrow Seven, which is phenomenal. It helped me see there's a huge potential for racing to raise money for charity.
"With The Good Racing Co, we aim to redefine racing as an all-inclusive sport that motivates and excites people for many different reasons, especially racing for good causes.
"We believe that there's more to winning than coming first and we're looking towards a future in which everybody wins. With our new racing club, when people buy a membership to a horse in our stable, they can share in making a difference and improving the lives of those in need.
"This just the start of what we hope will be a growing movement of racing for good because together we can do good on a grand scale – and have fun along the way."
Go Go Chicago is trained by Fergal O'Brien, who hopes the son of Shirocco will be ready to debut later this month.
He said: "(Training partner) Graeme McPherson and I are exceptionally excited to be joining the Good Racing Co. We hope to unite the racing community to raise money for more worthy causes – while having fun along the way.
"We've seen what can be collectively achieved through the success of Burrow Seven, and we're confident the racing community will once again make us proud of their generosity and support for good causes."
Racing Welfare supports the workforce of British horseracing, offering professional guidance and practical help to current and retired racing staff, and their families while Racing to School aims to inspire young minds through the provision of free, interactive and healthy outdoor educational events for schools.
Hawthorne added: "Go Go Chicago is raising money for two highly respected racing charities, and we expect most members to come from the racing world, but our longer-term ambition is to help attract new audiences to the sport as we introduce new horses racing for wildly different causes.
"Burrow Seven, through Rob Burrow, introduced Rugby League fans to the world of racing, and we hope to replicate this achievement as we grow."
Racing Welfare's Dawn Goodfellow said: "We're extremely grateful that Phil has chosen to support Racing Welfare and Racing to School with this new venture, and we look forward to seeing Go Go Chicago giving members the combined thrill of racing while making a difference to our industry."
John Blakey of Racing to School added: "Racing to School delivers the sport's largest community programme and we are ambitious to work with partners to reach more young people to support their education and career aspirations."