California Retirement Management Account

FundraisingUnited States2-10 Employees

California Retirement Management Account (CARMA) is a 501c3 non-profit organization founded in 2007 to raise money for retired racehorses.  It is responsible for hosting fundraising events, educating owners and trainers on equine retirement, raising awareness and working to unify the racing industry in support of its equine athletes. Ways in which this is accomplished include facilitating the transition of racehorses off the track through its Placement Program and showcasing the breed’s versatility as equestrian mounts at its Thoroughbred Classic Horse Show.

CARMA worked closely with the California Horse Racing Board (CHRB) to adopt a rule change allowing for a 0.3% deduction from purses to help fund equine retirement.  This deduction which owners can “opt-out” of if they so choose, is used to support Thoroughbred retirement farms and other non-profit programs that care for and retrain retired racehorses. 

CARMA manages a grant request process and since 2008 has awarded more than 3.2 million dollars to qualified retirement facilities caring for Thoroughbreds.

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