PRAIRIE MEADOWS RACE TRACK AND CASINO INC Charity Report

Public IRS 990 nonprofit record

PRAIRIE MEADOWS RACE TRACK AND CASINO INC

EIN 42-1244913 · Education (B)

What they do

PURSUANT to INTERNAL REVENUE CODE SECTION 501(C)(4), PRAIRIE MEADOWS RACE TRACK and CASINO is NOT ORGANIZED for PROFIT BUT is OPERATED EXCLUSIVELY for THE PROMOTION of SOCIAL WELFARE and ECONOMIC DEVELOPMENT. THE PROMOTION of SOCIAL WELFARE and ECONOMIC DEVELOPMENT INCLUDES PROVIDING A SOURCE of RECREATION for THE COMMUNITY and PROVIDING A GENERALLY POSITIVE ECONOMIC IMPACT ON CENTRAL IOWA IN CONJUNCTION WITH THE CITIZENS and LOCAL GOVERNMENT IN THE AREA. PURSUANT to SECTION 99F.6(4)(A) of THE IOWA CODE, PRAIRIE MEADOWS RACE TRACK and CASINO is REQUIRED to DISTRIBUTE and DOES DISTRIBUTE ITS PROFITS for "EDUCATIONAL, CIVIC, PUBLIC, CHARITABLE, PATRIOTIC, or RELIGIOUS" USES AS DEFINED IN SECTION 99B.7(3)(B) of THE IOWA CODE.

Before you give

Should I give to this charity?

Easy charity check

Look at where the money went

Of every $100 spent, about $99.30 was reported for mission work. Use the spending picture below and ask what results that work produced.

Plain answer: A tax form cannot prove that a charity is doing good. It can show how the charity says it spent its money—and point out questions you should ask.

Basic facts we verified

IRS warning checkNo IRS revocation warning appears in this data.

Money report from 2024The charity has a recent tax report to read.

They explain their jobThe charity tells us what it is trying to do.

They name their leaders25 people are listed in the latest report.

You can reach themThey list contact information, so you can ask questions.

Money made simple

98.38%of revenue went to mission work99.3% of expenses · Program services

$99.09spent for every $100 of revenueRevenue covered expenses this year.

0.72%of revenue went to management and office costs0.7% of expenses

$0.13in assets for every $1 spent this yearSome assets cannot be spent right away.

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Who did you help? Ask for a recent story or report that shows real results.
What will my money do? Ask exactly what your gift will pay for.
Is this really the charity? Give only through its official website or confirmed phone number.

Pay context: The highest compensation shown in this filing is $1,873,454 for PALMER GARY E (PRESIDENT, CEO). Compare pay with organizations of similar size and complexity.

Bottom line: Do not decide from a name, mission statement, or tax status alone. Look at where the money went, then ask what changed, who was helped, and what your gift will do. YouCanGiveBack does not endorse or grade organizations.

Money

Financial picture

Tax year 2024

A plain-language look at the latest Form 990 figures available. These numbers help you ask better questions; they do not, by themselves, rate whether a charity is good or bad.

$100revenue

How each $100 of revenue was used

The large number compares each expense with revenue. The smaller number shows its share of total expenses.

Total reported revenue$2,532,959,229

Mission workProgram services$2,491,817,01598.38% of revenue99.3% of expenses

ManagementOffice and general costs$18,168,8610.72% of revenue0.7% of expenses

FundraisingAsking for donations0.00% of revenue0.0% of expenses

Revenue left after expensesReported annual surplus$22,973,3530.91% of revenueShown in gray on the chart

Total expenses$2,509,985,87699.09% of revenue

Gray means reported revenue left after expenses for this filing year. It does not necessarily mean cash sitting in a bank account.

Has the pattern changed?

Colored bars = expense mix: how each year’s expenses were divided. Total expenses vs. revenue shows whether the charity spent less or more than it received. The current filing is first.

YearExpense mixDetails

2024CurrentExpense mix: 99.3% mission · 0.7% management · 0.0% fundraisingTotal expenses: 99.09% of revenue

2023Expense mix: 99.3% mission · 0.7% management · 0.0% fundraisingTotal expenses: 98.46% of revenue

2022Expense mix: 99.4% mission · 0.6% management · 0.0% fundraisingTotal expenses: 98.23% of revenue

2021Expense mix: 99.5% mission · 0.5% management · 0.0% fundraisingTotal expenses: 97.78% of revenue

2020Expense mix: 99.3% mission · 0.7% management · 0.0% fundraisingTotal expenses: 99.91% of revenue

2019Expense mix: 99.4% mission · 0.6% management · 0.0% fundraisingTotal expenses: 99.23% of revenue

2018Expense mix: 99.4% mission · 0.6% management · 0.0% fundraisingTotal expenses: 100.19% of revenue

2017Expense mix: 99.4% mission · 0.6% management · 0.0% fundraisingTotal expenses: 100.16% of revenue

Money in and money out

Revenue$2,532,959,229

Expenses$2,509,985,876

Annual surplus $22,973,353 Revenue was higher than expenses for this filing year.

Reported spending amounts

Mission work means the Form 990 category called program services. These are reported accounting categories—not an independent measurement of results.

Mission work (program services)$2,491,817,015 · 99.3% of expenses

Management and office costs$18,168,861 · 0.7% of expenses

See all reported dollar amounts

Revenue$2,532,959,229

Expenses$2,509,985,876

Assets$327,636,033

Income$2,533,399,105

Mission work (program services)$2,491,817,015

Grants given$213,233,910

Average grant$106,831

Management and general$18,168,861

Stocks and bonds$10,733,006

Accounting fees$139,750

Investing fees$23,059

People

Leadership and board

Tax year 2024

Names, titles, time, and compensation below are reported by the organization on its Form 990.

People reported as paid

Person and titleCompensation

PALMER GARY EPRESIDENT, CEO · 55 hrs/week $1,873,454Base $1,819,142 · Other $54,312

WILKIE MICHELEEXECUTIVE VP · 55 hrs/week $651,706Base $585,561 · Other $66,145

STEWART JULIESR VP OF BUSINESS DEVELOPMENT · 55 hrs/week $416,551Base $342,698 · Other $73,853

PURSLEY CLINTON WSR VP OF SECURITY · 55 hrs/week $413,161Base $366,910 · Other $46,251

HELDT DERRON DVP OF RACING · 55 hrs/week $355,971Base $299,296 · Other $56,675

OHORILKO BRIAN JSR VP OF ADMINISTRATION · 55 hrs/week $308,158Base $254,765 · Other $53,393

CASTELLINE ELAINE MVP OF FINANCE, CFO · 55 hrs/week $292,054Base $272,421 · Other $19,633

GUZMAN ANTONIO SDIRECTOR OF IT · 55 hrs/week $290,900Base $245,324 · Other $45,576

ATKIN ANN MFORMER OFFICER $239,503

Compensation alone does not tell whether pay is reasonable. Consider the charity’s size, work, location, and results.

See everyone listed on the board or leadership roster (25)

PALMER GARY EPRESIDENT, CEO

WILKIE MICHELEEXECUTIVE VP

STEWART JULIESR VP OF BUSINESS DEVELOPMENT

PURSLEY CLINTON WSR VP OF SECURITY

HELDT DERRON DVP OF RACING

OHORILKO BRIAN JSR VP OF ADMINISTRATION

CASTELLINE ELAINE MVP OF FINANCE, CFO

GUZMAN ANTONIO SDIRECTOR OF IT

ATKIN ANN MFORMER OFFICER

OHOLLEARN BOBBOARD MEMBER

WANGSNESS JEFFBOARD MEMBER

VOSS SUSANBOARD MEMBER (END 11/24)

COPLEY TODDBOARD MEMBER (END 10/24)

SAGAR KENCHAIR

COSTA CHRISBOARD MEMBER

GORSCHE JIMBOARD MEMBER (START 11/24)

GRANDQUIST LINDASECRETARY

NEVILLE DR STEVENVICE CHAIR

NEHRING JOEBOARD MEMBER (START 10/24)

MORSE ANDREABOARD MEMBER

MAURO JOHNBOARD MEMBER

MARTIN MARTYBOARD MEMBER (END 11/24)

LINDERBAUM DENNYBOARD MEMBER (START 11/24)

LIN DR IANBOARD MEMBER

LEECH DEBBOARD MEMBER

About this charity

Recognized since: January 1989
Location: 1 PRAIRIE MEADOWS DR, ALTOONA, IA 50009-2100
County: Polk
In care of: TROY SIGWARTH
Primary officer: TROY SIGWARTH, DIRECTOR OF FINANCE

How to reach them

WebsiteVisit the charity’s website Phone(515) 967-1000

Filing and classification

Latest tax year: 2024
Tax period began: January 1, 2024
Return type: 990
Tax preparer: DELOITTE TAX LLP
NTEE classification: Education (B)
IRS tax category: Education
Grant-giving organization: Yes