CARMA Awards $264,000 for Horse Retirement

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The California Retirement Management Account Foundation is awarding $264,000 to 12 different charitable organizations caring for retired California race horses. It represents an increase of approximately 50% from the amount granted in 2008, its first year of fundraising.

Last year, after only six months of operation, the CARMA board voted to grant $150,450 to eight charities. The major source of funding is a .03% deduction from purses that goes directly to CARMA. Owners have the ability to opt out of the program, but nearly 80% participate.

“We are extremely proud of the work we have done over the past 12 months,” said Madeline Auerbach, a program founder who chairs the CARMA Board. “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 funds are 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 Web site at www.carma4horses.org.