Oxley Foundation Issues Challenge to Assist Horse Research
Updated: Thursday, March 11, 2004 2:38 PM
Posted: Thursday, March 11, 2004 2:38 PM
The Oxley Foundation has issued a challenge grant of up to $1-million to the Grayson-Jockey Club Research Foundation to raise funds dedicated to the safety and health of horses. The challenge allows the Grayson-Jockey Club Research Foundation to qualify for matching funds of $1-million over the next four years by successfully raising $250,000 annually in new contributions.
John C. Oxley, who is a trustee, established the Oxley Foundation in 1985.
Oxley is a board member of Grayson-Jockey Club Research Foundation and has been a generous supporter of equine research on a personal basis.
The Grayson-Jockey Club Research Foundation is affiliated with The Jockey Club, the registry for Thoroughbred horses, but Foundation-funded research also serves the needs of other breeds and uses of horses. The Foundation is funded solely by donations and endowment investment management.
This year, the Foundation will fund 20 projects for a total of $850,888. This brings Grayson-Jockey Club Research Foundation's total funding since 1983 to more than $11 million to underwrite 189 projects at 31 universities.
"We are extremely gratified by the generosity of The Oxley Foundation in issuing this matching grant opportunity," said Edward L. Bowen, president of Grayson-Jockey Club Research Foundation. "The Oxley Foundation supports a broad range of causes. It has been an annual contributor to Grayson-Jockey Club Research Foundation for several years, but this challenge grant is truly a major expression of support for our work.
"We are confident that horse owners representing various breeds will appreciate and respond to this opportunity to double the impact of their own contributions."
The Oxley Foundation has stipulated that its contributions will be earmarked for endowment, but has not placedthat stipulation on how other new income will qualify for the match.
"We agree that contribution to endowment is the most effective way of contributing," said Bowen, "because it means a donation today is a perpetuating gift. However, if donors wish to designate their gift for a specific, current project, they can create an impact on an area of special concern to them."
Said Oxley: "As a charitable foundation, we are pleased to be able to emphasize the high caliber equine research being conducted under the supervision of Grayson-Jockey Club Research Foundation and hope that this challenge grant will encourage other horse people to support its efforts."
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