First Annual Holiday Carriage Ride for Special Children

Posted on November 25, 2008 by Daryl Binkley

Many local charity events and/or organizations in our desert focus on helping older citizens—but, as the father of a three-year-old daughter, I believe organizations helping the younger citizens are extremely important, too. One cause that my wife and I believe needs as much support as possible is Autism. And if it seems that news about Autism is more and more prevalent, well it is. The unfortunate reality is—autism rates are increasing.  Some studies released in as early as 2007, stated that 1 out of 150 children will have some form of autism—and the rate for boys is even higher, at 1 in 94 (www.AutismStreet.org).

So for those living in the desert with autistic children (or grandchildren), and other special needs children too, Healing Horses, Therapeutic Riding Center in the Coachella Valley has an event for you and your younger loved ones.

Healing Horses will have a Holiday Horse drawn Carriage Ride for kids attending their Therapeutic Riding Center at the Empire Polo grounds on December 6 at 2:30 – 3:30 p.m. Per the organization’s web site, “Healing Horses is a Non-Profit Corporation committed to improving the lives of Special Needs Children through the use of therapy horses.” While the organization specializes in children with Autism, the organization is open to special needs children in general as well.

There will also be a ribbon-cutting to show support for their sponsors. 

The Healing Horse’s goal is to improve the child’s “functioning in their homes, schools and communities by increasing their language, reducing negative behaviors, increasing core muscle strength, improving relationships with peers, parents, teachers and caregivers, peer play, joint attention, self care and overall self esteem and independence.” The organization is the only NARHA (North American Riding for the Handicapped Association) certified center in the Coachella Valley

Gabriele Lawrence, cofounder together with Marcia Levine of Healing Horses encourages parents and their children with special needs to become members of the Coachella Valley Autism Society (CVASA). Gabriele said that “We have received some grant funding that allows us to keep our fees relatively affordable to CVASA members, for example an hour long session costs $60.00 per child, but for members of the CVASA, the co-pay fee is only $20.00.  But our goal is to get that to $5.00 or even less with more donations.”

Gabriele also told me that “every dollar that gets donated to the program directly affects the children either through supplies used in lessons, horse care, or the cost of the instruction that is given, as each individual child’s short and long term goals are focused on. We are 501(c)(3) so of course all donations are 100% tax deductible. All potential donors are invited to come out and see the program in action. We are located on the grounds of the Empire Polo Grounds via generous support from the club's Owner Alex Haagen, III who is one of our greatest supporters.”

If you are new to the desert, or have not been able to find local support regarding other families with autistic relatives in the desert, then get more information about Healing Horses, on the web at www.healinghorsescv.com or the Coachella Valley’s chapter of the Autism Society of America on the web at www.cvasa.org. Both organizations routinely have events to foster local family support.

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The Art of Wealth

Posted on November 10, 2008 by Daryl Binkley

Volatile financial markets have affected us all in one way or another this year. Our stock portfolios, mutual funds, retirement accounts have seen changes and drops. Our homes are not worth what they were a year ago. So, is there anything out there, any purchase at all, that has seen gains—better yet significant gains in value over the last few years? To my surprise the answer was yes—and the gains are pretty significant. 

Highly sought-after art pieces, from artists such as Andy Warhol, Damian Hirst, Jasper Johns and Jeff Koons have seen gains in value of 100% to more than 500% in last few years.

The recent Forbes article online (and see the hard copy Special Issue of the Forbes 400 Richest People in America dated October 6, 2008 detailing the gains of several artists) also highlights a purchase made by Eli Broad of the 41-inch stainless steel "Rabbit" by Jeff Koons. The piece was worth $12 million in 2005 and a similar piece sold for $80 million earlier this year (a whopping 567% gain in 3 years!).

For Eli Broad, his extensive art collection provided an unexpected cushion as his stock portfolio was severely bruised by the AIG stock collapse. The article cites that his 2,000 piece collection was recently appraised at $1.9 billion, up 72% in one year, which helped offset his stock losses. The article states that his personal balance sheet lost $2 billion, but because of the art hedge, “Broad’s net worth fell only $300 million.”

And of course there are some signs that the art market might be slowing down, but art collections still prove to be a very valuable and highly-appreciating asset. Something to consider when looking at any art pieces you might have in your house, pieces you purchased or inherited from your grandparents, aunt, or other distant relative. 

On October 29, 2008 the recently expanded and remodeled J. Willott Gallery on El Paseo hosted an Art Appraisal Seminar to discuss some of the ins and outs of art appraising. The speaker, Ed Okil, a member of the National Institute of Appraisers provided a great overview of what the Appraisers can do to assess the value of your art collection, and when an appraiser might be needed.

For example, an appraisal may be requested for a variety of reasons—insurance, divorces, bankruptcy, estate & probate matters, charitable donations (as required by the IRS), litigation, and pre-sales. Generally, the IRS gets serious about art pieces at the $5,000 price range for needing an appraisal, in the estate and probate valuing contexts. What that really means is that an appraisal becomes necessary at the death of the owner, if the value is $5,000 and over. 

Amazingly, in most cases people just don't think of their art as an asset. For that reason, they might go through the entire estate planning process, by drawing up a living trust and all the ancillary documents, but never once think to include their art pieces as an asset on their inventory documents. 

A good attorney will probe the client to disclose material personal property items (like an expensive painting, antique, or collectible) at the establishment of a trust—so the proper planning strategies are employed and ensure that a client's  collection doesn't end up in probate. The more information and knowledge you have regarding your art pieces, the better.

"Our desire is to continue to provide local residents with valuable programs and free seminars related to the ownership and purchase of fine art" said Joshua Paquette, one of the owners of the J. Willott gallery. Find out more about J. Willott gallery on their website.

(Pictured at the top is Silvercreek Horses by Theodore Waddell--the gallery will have a show for him on February 12, 2009.) 

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