Overview
What is Prairie Meadows Race Track And Casino Inc?
Prairie Meadows Race Track and Casino Inc, based in Altoona, Iowa, is a nonprofit organization consisting of local government, civic, and business representatives. Their primary mission is to promote social welfare and economic development in central Iowa. Operating a race track, casino, and related facilities, they distribute their profits as required by the Iowa Code to various educational, civic, public, charitable, and religious causes. In 2022, $11.7 million was given to Polk County, $5.1 million to the City of Des Moines, and $9.9 million to local school districts and organizations like the Greater Des Moines Partnership. The organization is not for profit and is exclusively dedicated to enhancing the social welfare and economic development of central Iowa in collaboration with the local community and government.
Official website here: www.prairiemeadows.com
Is Prairie Meadows Race Track And Casino Inc legitimate?
Prairie Meadows Race Track And Casino Inc is a legitimate nonprofit organization registered as a 501(c)(4) entity. Prairie Meadows Race Track And Casino Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $3,195,066
Professional Fundraising Fees: $0
Other Salaries and Wages: $39,673,627
For more financial information, click here
Official website here: www.prairiemeadows.com
What is the mission statement of Prairie Meadows Race Track And Casino Inc?
Prairie Meadows Race Track and Casino Inc operates exclusively for the promotion of social welfare and economic development, as outlined in the Internal Revenue Code Section 501(c)(4). The organization's mission extends beyond generating profits, instead focusing on providing a source of recreation for the community and making a positive economic impact in close collaboration with local government. In accordance with the Iowa Code Section 99F.6(4)(A), Prairie Meadows distributes its profits for uses including education, civic, public, charitable, patriotic, and religious purposes.
Official website here: www.prairiemeadows.com
Who is the CEO of Prairie Meadows Race Track And Casino Inc?
Palmer Gary E is the CEO of Prairie Meadows Race Track And Casino Inc The CEO's salary of Prairie Meadows Race Track And Casino Inc is $1,698,944 and their total compensation is $1,740,077.
Official website here: www.prairiemeadows.com
What is the revenue of Prairie Meadows Race Track And Casino Inc?
Prairie Meadows Race Track And Casino Inc's revenue in 2023 was $2,595,228,457.
Official website here: www.prairiemeadows.com
Who are the executives of Prairie Meadows Race Track And Casino Inc and what are their salaries?
The average compensation at Prairie Meadows Race Track And Casino Inc during 2023 was $30,296. There are 1415 employees and 19 volunteers at Prairie Meadows Race Track And Casino Inc.
Here are 25 key members and their salaries (Prairie Meadows Race Track And Casino Inc's CEO's salary is $1,698,944 and their total compensation is $1,740,077):
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- Compensation: $1,698,944
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- Compensation: $693,268
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- Compensation: $466,272
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- Compensation: $271,877
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- Other: $40,107
- Compensation: $235,999
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- Other: $32,938
Official website here: www.prairiemeadows.com
Where can I find the form 990 for Prairie Meadows Race Track And Casino Inc?
Prairie Meadows Race Track And Casino Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.prairiemeadows.com
Learn more at the official website: www.prairiemeadows.com
Mission Statement of Prairie Meadows Race Track And Casino Inc
Prairie Meadows Race Track and Casino Inc is a non-profit organization dedicated to the promotion of social welfare and economic development in central Iowa. Established in accordance with Internal Revenue Code Section 501(c)(4), this entity does not operate for profit but exists solely to contribute to the betterment of the community.
According to their mission statement, Prairie Meadows Race Track and Casino focuses on providing a source of recreation for the public and fostering a positive economic impact on central Iowa. In pursuance of these objectives, they collaborate closely with the citizens and local government in the area. As per the Iowa Code Section 99F.6(4)(A), the organization distributes its profits to various causes that align with the definitions outlined in Section 99B.7(3)(B) of the Iowa Code. These categories include but are not limited to, education, civic, public, charitable, patriotic, and religious endeavors.
Prairie Meadows Race Track and Casino Inc's mission is twofold. By offering recreational opportunities to the public, they contribute to the overall wellbeing and entertainment of the community. This aspect of their work fosters social connections and creates a vibrant community environment. Additionally, through the distribution of their profits for various social welfare and economic development purposes, they address the needs of the community in a meaningful and sustainable manner. This holistic approach to community development makes Prairie Meadows Race Track and Casino a valuable asset to central Iowa.
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Impact
October, 2024
Prairie Meadows Race Track and Casino Inc. plays a significant role in promoting social welfare and economic development in central Iowa. By operating a race track and casino, it creates recreational opportunities for the community while contributing to the local economy.
In 2022, Prairie Meadows distributed a substantial portion of its profits, amounting to $11.7 million to Polk County and $5.1 million to the City of Des Moines. Additionally, it supported local organizations, donating nearly $900,000 to Polk County School Districts and over $330,000 to the Greater Des Moines Partnership. These contributions reflect its commitment to enhancing educational, civic, and public initiatives in the area, thereby fostering community welfare.
The economic impact of Prairie Meadows extends beyond direct financial contributions. By providing jobs, attracting visitors, and stimulating local businesses, it serves as a vital component of the regional economy. Overall, Prairie Meadows acts as a catalyst for positive change in central Iowa, aligning its activities with the broader goals of community development and enhancement.
This information is meant to be a general summary of Prairie Meadows Race Track And Casino Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $2,335,599
- Program Service Revenue: $2,592,637,508
- Gross Receipts: $2,595,680,063
Assets and Liabilities:
- Total Assets: $290,547,398
- Total Liabilities: $102,806,702
- Net Assets: $187,740,696
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
CASINO & HOTEL
Revenue
$2,512,750,223
PARI-MUTUEL REVENUE
Revenue
$49,972,654
SPORTSBOOK
Revenue
$18,640,059
FOOD & BEVERAGE
Revenue
$7,887,247
GIFT SHOP
Revenue
$407,124
Organization Details
Founding Year
1984
Phone
(515) 967-1000Principal Officer
Elaine Castelline
Main Address
PO BOX 1000, ALTOONA, IA, 50009
Website
www.prairiemeadows.comNTEE Category
Code: N50 - Recreation
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