(Edited press release)
Thoroughbred Charities of America has announced a gift of $250,000 from a donor who wishes to remain anonymous. The fund will be used to create a permanent endowment for TCA to assure future grant giving.
It will also offer donors an additional option when making tax-deductible gifts. TCA follows a "United Way" methodology, by providing the Thoroughbred industry and supporters a way to give to one entity, which TCA then distributes in annual grants to hundreds of non-profits within their mission.
"Many of our small family-run rescue and retirement groups tell me without TCA funding they just could not survive," said TCA president and founder Herb Moelis. "This endowment will assure their continuity."
TCA provides a better life for Thoroughbreds, both during and after their racing careers by supporting retirement, rescue, and research and by helping the people who work with them.
With the exception of one paid employee, TCA is administered entirely by unpaid volunteers, which allows them to grant more than 93 cents of every $1 raised each year. TCA has granted more than $12 million over the past 16 years, to nearly 200 organizations in 35 states.