In 2003, ReRun, Inc. operated on a $200,000 budget. The Thoroughbred Charities of America is a primary source of funding for ReRun, Inc., providing a $40,000 grant each year (in 2004, this grant was cut to $35,000). The Exceller Fund, another equine retirement organization named after the champion racer who was killed for consumption in Sweden in 1997, provides nearly $16,000 each year to ReRun, Inc. The Exceller Fund and ReRun, Inc. have joined together for the care of some Exceller Fund horses. ReRun, Inc. pays a minimal $15.00/year membership fee to The Exceller Fund, who then entrusts ReRun, Inc. with the care of some of their horses. The Exceller Fund pays the private contractors the monthly board. When the horse is adopted, ReRun, Inc. turns over the entire adoption fee to The Exceller Fund. Corporate and personal monetary donations amounted to approximately $45,000. The balance of ReRun, Inc.’s income for 2003 came from fundraising events, such as the Thoroughbred Charity Horse Show and the Moneigh Auction, which is event that auctions abstract paintings done by equine celebrities, such as Smarty Jones, the 2004 Kentucky Derby winner.
The primary expense faced by ReRun, Inc. is the $250 board cost for each horse each month. This amounted to $90,000 for 2003. Other major costs include fundraising expenses, insurance premiums, veterinary expenses and other equine professional expenses. According to Neagle, ReRun, Inc. normally is able to stay very close to their budget. However, in 2003, the budget was exceeded by nearly $30,000. Efforts to develop the Maryland chapter during 2003 resulted in extremely high travel expenses, accounting for over $10,000. The remainder was due to increases in insurance, truck maintenance, office equipment and higher telephone expenses. Neagle claims that most of the overage is considered a one-time expense and will not factor into future budgeting. She is confident that ReRun, Inc. will remain on budget in 2004 (Neagle, 2004).
As more equine retirement groups come into existence, the foundations that provide funds, notably Thoroughbred Charities of America, find their limited funds are spread over many more groups than ever before. While most of these equine retirement groups are legitimate, there is a fear that some fraudulent groups are in operation for merely tax incentives. In response to shrinking funds, several equine retirement groups, including ReRun, Inc. have taken it upon themselves to form the Thoroughbred Adoption and Retirement Association, Inc. (TARA) to protect the funds from Thoroughbred Charities of America. TARA is an accreditation group that sets certain standards that equine retirement groups must to adhere to in order to obtain funding. This national nonprofit’s mission is threefold:
“to establish, apply and monitor standards for adoption retirement organizations; to serve as a liaison to the racing industry to make it easier to donate or sponsor retired Thoroughbreds, and to promote the versatility of the breed.”
However ambitious this organization was meant to be, the founders discovered they were unable to take the time to enforce the regulations that protect their own equine retirement organizations. Therefore, the AAEP has vowed to take over the TARA group’s operations to ensure only qualified organizations are allowed to receive funding from the major foundations.
ReRun, Inc. has proven itself to be a viable alternative to slaughter for racehorse trainers and owners. ReRun, Inc. stands out among the new crop of equine rescue organizations for providing a needed “social entrepreneurial” service that benefits the horses, the racing industry and adopters looking for versatile horses. Above all else, ReRun, Inc. actively seeks change within the industry, providing education to the public and assistance to Thoroughbred owners. ReRun, Inc. has earned the trust of the Thoroughbred Charities of America and the Exceller Fund, which rewards them with a steady source of income. With the new Maryland project in the works, ReRun, Inc. will remain the best choice for many trainers across the country looking for humane ways to retire their horses.