Foundation to Benefit From Colt : Philanthropy: Two-year-old’s winnings to fund anti-gun cause.

The career money winnings of Dehere, a 2-year-old colt whose earning potential is high, will go to a foundation with the purpose of taking guns out of the hands of young people.

The formation of the Dehere Foundation was announced Thursday by Robert E. Brennan, the owner-breeder of the unbeaten colt named for Terry Dehere, a second-team All American basketball player last season as a senior at Seton Hall, Brennan’s alma mater.

The player was picked in the first round of the NBA draft by the Clippers the same day the colt scored the first of his three victories.

Brennan said that all of the colt’s earnings would go to the foundation and that he was guaranteeing the first $1 million no matter what Dehere wins. So far that’s been $150,480.

“The aim of the foundation is to initiate and fund programs to develop and lessen senseless violence in our inner city, to get guns out of the hands of young people,” Brennan said .

Brennan, a native of Newark, N.J., knows first hand about that. His brother, Kevin, was murdered by a thief with an illegal handgun about 25 years ago at age 21.

“My mother, who was 53, died the night of the funeral from the anguish and heartache of the whole thing,” Brennan said.

Said Dehere: “If we save a couple of lives, it is worthwhile.”

The basketball player, who is from Jersey City, said he has followed the colt’s progress, but will see him run for the first time in the Hopeful on Sunday at Saratoga. Two of the colt’s wins were in the Saratoga Special and the Sanford.

Brennan, the chairman of Seton Hall’s Board of Regents, has two other 2-year-olds named for Seton Hall players--Jerry Walker and Arturis, for Arturis Karnishovis.

Brennan, who races as Due Process Stable and is the major stockholder of Garden State Park, also owns Magid Caver, named for Brian Caver, a current player.