The Oak Tree Racing Association, a not-for-profit organization that distributed upwards of $700,000 annually during its heyday, will no longer function after 42 years in the horse racing business.

 Last week, the California Horse Racing Board (CHRB) awarded its fall dates to the operators of Santa Anita.

Actually, the charitable organization’s problems began two years ago when Frank Stronach, CEO of Magna Entertainment Inc. and now chairman of MI Developments, owner of Santa Anita, decided he wanted the fall dates and terminated the long-lasting agreement the track had with Oak Tree.

In order to survive, Oak Tree made a two-year deal with Hollywood Park, an arrangement that did not sit well with the California racing regulators.

“The (race) meet that was held at Hollywood last year,” said CHRB Chairman Keith Brackpool, “was not the meet we hoped it would be. This (Santa Anita) would be to me the more logical venue at that time of year.”

Oak Tree owns some valuable racing titles that Santa Anita reportedly is interested in acquiring.

Biggest losers, obviously, will be the many organizations that benefited from the Oak Tree philanthropy.