California Retirement Management Account (CARMA) is a non-profit, charitable organization created to raise money for retired California racehorses. Founded in late 2007, it is run by an independent board of directors, chaired by creator Madeline Auerbach. CARMA is responsible for hosting fundraising events, educating owners and trainers on equine retirement, raising awareness, and working to unify the industry in support of our equine athletes.
In addition, CARMA worked 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, one owners can opt-out of, will be used to help support equine retirement farms and other non-profit programs that care for and retrain retired Thoroughbred racehorses. Owners can obtain opt-out forms at any of the paymaster offices in California or at www.chrb.ca.gov.
CARMA also manages a grant request process and disburses funds to qualified retirement facilities caring for such horses. CARMA is dedicated to the goal of providing funding for the rehabilitation, retraining and/or retirement of Thoroughbred horses that have raced in California. It is only through the cooperation and assistance of the entire industry that this can be accomplished.
A 501(c )(3) fundraizing charity, CARMA actively seeks contributions from the racing and general community. Donations are tax deductable and may be sent to: CARMA, PO Box 1086, Sierra Madre, CA 91025-9086. (Tax ID #80-0146395).