Overview
What is California Retirement Management Account?
The California Retirement Management Account (CARMA) is a nonprofit organization that grants funds to support the care and rehabilitation of racehorses whose careers have come to an end. Based in Arcadia, California, CARMA assists in finding homes for these horses by providing grants to permanent sanctuaries and therapeutic riding programs. These organizations play a crucial role in horse adoptions, ensuring that thoroughbreds receive proper care and can transition into new roles, such as companions or therapy animals.
Official website here: www.carma4horses.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (Two-Star out of Four Stars)
The California Retirement Management Account has received a rating of two stars from Charity Navigator, indicating a need for improvement. With a score of 66%, the organization demonstrates strong accountability and finance practices, as evidenced by a high program expense ratio of 87.86% and a solid liabilities to assets ratio of 1.43%. All board members are independent, which enhances governance standards, but the organization lacks essential policies like a whistleblower policy and document retention.
While the organization's financial practices appear robust, the impact and measurement score of 45 highlights challenges in demonstrating its effectiveness. This suggests that while funds are well-managed, there may be limitations in how the outcomes of their programs are measured and reported. The absence of a tax form on their website further detracts from transparency, potentially impacting public trust.
Overall, California Retirement Management Account shows strengths in its governance and financial management but needs to address gaps in transparency and impact reporting to enhance its overall effectiveness and accountability.
This AI summary has been generated from information found on Charity Navigator.
Is California Retirement Management Account legitimate?
California Retirement Management Account is a legitimate nonprofit organization registered as a 501(c)(3) entity. California Retirement Management Account submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $92,084
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.carma4horses.org
What is the mission statement of California Retirement Management Account?
The California Retirement Management Account (CARMA) supports the well-being of retired thoroughbred racehorses by granting funds to retirement facilities. These facilities provide care and retraining for racehorses whose careers have come to an end. The non-profits given these grants help find homes for the horses and facilitate their safe retirement. The grants are allocated to permanent sanctuaries and therapeutic riding programs, which in turn, contribute to horse adoptions. Through these initiatives, CARMA enables retired racehorses to live out their days in comfort and begin new chapters in their lives.
Official website here: www.carma4horses.org
Who is the CEO of California Retirement Management Account?
Lucinda Lovitt is the Director of California Retirement Management Account.
Official website here: www.carma4horses.org
What is the revenue of California Retirement Management Account?
California Retirement Management Account's revenue in 2022 was $1,190,277.
Official website here: www.carma4horses.org
Who are the executives of California Retirement Management Account and what are their salaries?
The average compensation at California Retirement Management Account during 2022 was $92,084. There is 1 employee and 50 volunteers at California Retirement Management Account.
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Official website here: www.carma4horses.org
Where can I find the form 990 for California Retirement Management Account?
California Retirement Management Account's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.carma4horses.org
Learn more at the official website: www.carma4horses.org
Mission Statement of California Retirement Management Account
The California Retirement Management Account (CARMA) supports thoroughbred retirement facilities by granting funds to ensure the care and retraining of racehorses whose careers have come to an end. By providing financial assistance to these non-profits, CARMA facilitates the finding of new homes for horses from their placement program and enables thoroughbred owners to retire their racehorses safely.
CARMA's grants not only benefit the horses, but also contribute to the well-being of permanent sanctuaries and therapeutic riding programs. These organizations play a crucial role in the adoption process, providing a safe and nurturing environment for retired racehorses. CARMA's grants enable these facilities to continue their essential work, ensuring that racehorses can live out their lives in comfort and dignity once they have left the racetrack.
The non-profit organizations that receive CARMA's grants are dedicated to the rehabilitation and rehoming of retired racehorses. They provide these horses with essential care, including nutritious food, veterinary attention, and training programs that help prepare them for adoption. CARMA's support also extends to therapeutic riding programs, where horses are used to improve the physical, emotional, and cognitive well-being of individuals with disabilities. Through these programs, retired racehorses not only find new homes but also contribute to the community by providing therapeutic benefits to those in need.
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Impact
October, 2024
The California Retirement Management Account (CARMA) plays a crucial role in supporting the transition of thoroughbred racehorses into retirement. By providing grants to various retirement facilities, CARMA ensures that horses whose racing careers have come to an end receive the care and retraining they need. This funding is vital for the operation of permanent sanctuaries and therapeutic riding programs, which not only offer a safe haven for these horses but also facilitate their adoption into loving homes.
The impact of CARMA extends beyond the individual horses; it fosters a community-oriented approach to equine retirement. Through its placement programs, it helps connect thoroughbred owners with resources and support systems to navigate the retirement process responsibly. By advocating for the welfare of these animals, CARMA enhances public awareness of the importance of post-racing care and contributes positively to the overall perception of thoroughbred racing. Ultimately, CARMA strengthens the bond between horses and the communities that care for them, promoting a sustainable model for the future of retired racehorses.
This information is meant to be a general summary of California Retirement Management Account. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $8,300
- Program Service Revenue: $37,757
- Gross Receipts: $1,191,585
Assets and Liabilities:
- Total Assets: $1,621,471
- Total Liabilities: $23,275
- Net Assets: $1,598,196
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
HORSE SHOWS
Revenue
$37,757
Organization Details
Founding Year
2007
Phone
(626) 574-6622Principal Officer
Lucinda Lovitt
Main Address
285 WEST HUNTINGTON DRIVE, ARCADIA, CA, 91007
Website
www.carma4horses.orgNTEE Category
Code: D20 - Animals
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