The California Retirement Management Account Foundation (CARMA) voted last
month to give $264,000 to 12 different charitable organizations caring for
retired California racehorses. It represents an increase of approximately 50
percent from the amount granted in 2008, its first year of fundraising.
Last year, after only six months of operation, CARMA granted $150,450 to
eight charities. The predominant source of funding is a .03 percent deduction
from purses that goes directly to CARMA. Owners have the ability to opt out of
the program, but nearly 80 percent participate.
“We are extremely proud of the work we have done over the past 12 months,”
CARMA Board Chair Madeline Auerbach said. “These funds will help buy much needed
hay, feed and medications, etc. Hopefully, this will give a financial cushion to
each of the charities.
“Not only has the CARMA program proven to be successful in terms of dollars
raised, we’re able to see a tangible difference at the farms and facilities
where the horses live. As we go out and visit organizations throughout the year,
our directors are seeing the money put to work.”
Organizations receiving funding include CANTER — CA, California Equine
Retirement Foundation, Equine Encore Foundation, Glen Ellen Vocational Academy,
Harmony & Hope Horse Haven, Heaven Can Wait, Inc., Neigh Savers Foundation,
Southern California Thoroughbred Rescue, Square Peg Foundation, Thoroughbred
Rehab Center, Tranquility Farm, and United Pegasus Foundation.
For more information, visit CARMA’s website at www.carma4horses.org.