The purpose of this study was to examine the performance and related factors of sport financial support programs of the Korea Sports Promotion Fund and to derive the significance that it implies and necessary policy implications. The study was conducted in three stages and the results were derived. They include analyzing performance by impact factors and deriving results, analyzing impact factors and deriving results by performance, and deriving relationships and implications. First, analysis of performance by influencing factors and results revealed that all six factors affect performance: program size, priority ambiguity, target group ambiguity, type and nature of the program, directness of the program, and continuity of the program. However, in terms of directness factors of the program, there was only one direct program, so the comparison of performance with indirect and mixed programs was limited. The second is the analysis of performance-specific influences and the derivation of results. On average, programs with high performance were larger in size and the number of performance indicators, and programs with clear targets and program cost accounted for most of them. And it was mostly an indirect form of continuing program. On the other hand, it was possible to derive that programs with relatively low performance were mainly small in size, low in priority ambiguity, and the target of the program was not clear. The last three are relationships and implications. Performance was interlinked with six influential factors, and relatively low-performance programs differed in terms of priority ambiguity influencers. Three matters were presented as policy implications: securing diversity of programs, reflecting mid- to long-term performance indicators, and enhancing the adequacy of program goals and performance indicators.