NEWS
CARMA gives $264,000 to retired horses
Posted: Monday, December 28, 2009 5:41 PM
The California Retirement Management Account (CARMA) voted at its November board meeting to give $264,000 to 12 charitable organizations that care for retired California racehorses.
Last year after six months of operation, CARMA granted $150,450 to eight charities.
The majority of the funding comes from a .03% deduction from California purses. Owners can opt out of the program, but nearly 80% participate.
"We are extremely proud of the work we have done over the past 12 months. These funds will help buy much needed hay, feed, and medications, etc. Hopefully, this will give a financial cushion to each of the charities," CARMA Board Chairperson Madeline Auerbach said. "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 - California, 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.
