Prairie Meadows Race Track and Casino Inc logo

Prairie Meadows Race Track and Casino Inc

501(c)(4) organization Altoona, IA EIN: 42-1244913 Website

Prairie Meadows Race Track and Casino is a nonprofit, locally managed organization based in Altoona, Iowa. It operates a racetrack, casino, and related facilities, and supports Iowa nonprofit organizations through grants, event sponsorships, and in-kind donations.

Key facts about Prairie Meadows Race Track and Casino Inc

In short: Prairie Meadows Race Track and Casino Inc gave $33.0M across 409 grants in 2024 (avg $81K), mostly in Iowa. Source: 2024 IRS Form 990.

EIN
42-1244913
Latest 990 filing
Form 990, 2024
Annual giving (2024)
$33,003,223
Grants made (2024)
409
Average grant
$80,692
Median grant
$15,000
Total assets
$327,636,033
Primary geography
Iowa (98% of itemized 2024 grant dollars)
Deadline
The listed 2026 application deadline for all three programs is February 27, 2026, at 5:00 p.m.

Data from IRS Form 990, 2024; updated September 2026. Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.

Financial Overview

From 2024 IRS Form 990 · View filing

Total Assets

$327.6M

+3.2% YoY

Annual Giving

$33.0M

+3.0% YoY

Grant Count

409

+49.8% YoY

Avg Grant Size

$81K

-31.2% YoY

How Prairie Meadows Race Track and Casino Inc gives

  • 39% of 2024 grantees were also funded in 2023. Method
  • Giving grew 52% from 2021 to 2024. Method

Estimate from itemized grant lists in IRS Form 990 filings (2024). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.

Research compiled by Grantable AI from public sources. Last updated September 2026.

Mission & Focus Areas

Prairie Meadows states that it operates for the promotion of social welfare and economic development, including providing community recreation and a generally positive economic impact in central Iowa. Its 2024 filing also says Iowa law requires it to distribute profits for educational, civic, public, charitable, patriotic, or religious uses.

Its grant programs support arts and culture, education, economic development, and human services, as well as youth sports and recreation. Recent grantees illustrate a range of supported work: Des Moines Park & Recreation Foundation describes its mission as preserving, enhancing, and advocating for parks, trails, and recreation; ChildServe Foundation says it partners with families to help children with special health care needs; and Greater Des Moines Habitat for Humanity describes its work as bringing people together to build homes, communities, and hope. Environmental grantees include Ducks Unlimited, whose mission is to conserve, restore, and manage wetlands and associated habitats, and Great Outdoors Foundation, which says it advances conservation through innovation, collaboration, and stewardship.

Grantmaking

In filing year 2024, Prairie Meadows reported 409 grants totaling $33,003,223. Grant amounts ranged from $5,100 to $11,525,151, with a median of $15,000. The largest listed awards included $11,525,151 to Polk County, Iowa, for a net receipts contribution; $4,953,637 to the City of Des Moines for a tax rate sharing contribution; $900,000 to Des Moines Park & Recreation Foundation for park improvements; $750,000 to ChildServe Foundation for its Des Moines center; and $700,000 to Greater Des Moines Habitat for Humanity for its Framing Our Future campaign.

Review Cycle

The listed 2026 application deadline for all three programs is February 27, 2026, at 5:00 p.m.

Open Grants

6 open opportunities from Prairie Meadows Race Track and Casino Inc

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Geographic Focus

Where this funder awards grants

Prairie Meadows describes its Legacy program as supporting large-scale projects in central Iowa; its other grant programs are for Iowa communities or organizations located in Iowa. In 2024, 98% of reported grant dollars went to recipients in Iowa. The largest listed recipients included Polk County and the City of Des Moines.

Grant Distribution by State

7states

Share of 2024 grant dollars across all 409 itemized grants.

Cities

Des MoinesWest Des MoinesAltoonaJohnstonAnkenyUrbandaleBondurantAmesClivePleasant HillCarlisleIndianolaNewtonDallas CenterGrangerMitchellvilleNorwalkWindsor HeightsAllemanColfax

Giving Over Time

Total grant dollars and number of grants per year

$0$10M$20M$30M$40M50 grants2020 121 grants2021 230 grants2022 273 grants2023 409 grants2024

From 2020 to 2024, annual grant giving ranged from $13.5M (2020) to $33.0M (2024). In 2024 it made 409 grants totaling $33.0M.

Grant Insights

How this funder distributes its grants

Top Recipients

Top 10 recipients in 2024

Polk County Iowa: $11.5MPolk County Iowa$11.5MCity of Des Moines: $5.0M across 3 grantsCity of Des Moines$5.0M · 3 grantsDes Moines Park & Recreation Foundation: $900KDes Moines Park & RecreationFoundation$900KChildserve Foundation Inc: $750KChildserve Foundation Inc$750KGreater Des Moines Habitat for Humanity: $740K across 3 grantsGreater Des Moines Habitat forHumanity$740K · 3 grantsDes Moines Independent Community School District: $697K across 10 grantsDes Moines IndependentCommunity School District$697K · 10 grantsDucks Unlimited Inc: $470KDucks Unlimited Inc$470KGreat Outdoors Foundation: $470KGreat Outdoors Foundation$470KGreater Des Moines Partnership: $382K across 3 grantsGreater Des Moines Partnership$382K · 3 grantsEllipsis: $353K across 3 grantsEllipsis$353K · 3 grants

The largest 2024 recipient was Polk County Iowa ($11.5M). Together the top 10 received $21.3M.

Grant Size Distribution

1,083 grants across all recorded years

877<$50K102$50–100K55$100–250K29$250–500K8$500K–1M4$1–5M8$5M+

The most common grant size was under $50K: 877 grants of 1,083 (81%).

Giving History

Grant recipients and amounts by year

RecipientPurposeAmount
Polk County Iowa Des Moines, IANet Receipts Contribution$11,525,151
City of Des Moines Des Moines, IATax Rate Sharing Contribution$4,953,637
Des Moines Park & Recreation Foundation Des Moines, IASW 1ST St. Bridge Park Improvements$900,000
Childserve Foundation Inc Johnston, IAChildserve Des Moines Center$750,000
Greater Des Moines Habitat for Humanity Des Moines, IAFraming Our Future Campaign$700,000
Ducks Unlimited Inc Memphis, TNCentral Iowa clean water partnershipphase ii: water quality wetland restoration and protection$470,000
Great Outdoors Foundation Des Moines, IAStreambank stabilization to protect people, property, and the planet$470,000
Des Moines Independent Community School District Des Moines, IASchool Support$379,598
Greater Des Moines Partnership Des Moines, IA2024 Investor Commitment$350,000
Blank Park Zoo Foundation Des Moines, IAExpand the Impact$300,000

Financial History

Multi-year comparison from IRS filings

Filing year Assets Revenue Expenses Grants reported
2024 $327,636,033 $2,532,959,229 $2,509,985,876 $33,003,223
2023 $317,415,417 $2,595,228,457 $2,555,217,612 $32,034,778
2022 $290,547,398 $2,499,338,526 $2,455,002,478 $27,344,702

The filing type is Form 990 (a public charity).

Revenue
Expenses
Net Investment Income
$0$1B$2B$3B2020 2021 2022 2023 2024
Metric202420232022
Total Assets$327,636,033$317,415,417$290,547,398
Revenue$2,532,959,229$2,595,228,457$2,499,338,526
Expenses$2,509,985,876$2,555,217,612$2,455,002,478
Net Investment Income$3,498,046$2,415,949$437,958

Data update history

When this profile's IRS filing data changed on Grantable

  1. Updated Form 990 for fiscal year 2020 (received by the IRS November 9, 2021)
  2. Updated Form 990 for fiscal year 2021 (received by the IRS November 3, 2022)
  3. Updated Form 990 for fiscal year 2022 (received by the IRS November 2, 2023)
  4. Updated Form 990 for fiscal year 2023 (received by the IRS November 6, 2024)
  5. Updated Form 990 for fiscal year 2024 (received by the IRS October 31, 2025)
  6. IRS filings on file for fiscal years 2020–2024

Leadership & Key People

Leadership team and compensation from IRS filings

The 2024 filing lists the following officers and directors: Todd Copley, Chris Costa, Jim Gorsche, Linda Grandquist, Deb Leech, Dr. Ian Lin, Denny Linderbaum, Marty Martin, John Mauro, and Andrea Morse. The filing notes that Copley’s term ended in October 2024, Gorsche and Linderbaum began in November 2024, and Martin’s term ended in November 2024. Grandquist is listed as secretary.

Prairie Meadows Race Track and Casino Inc is led by Palmer Gary E., President & CEO on every filing since 2021; 9 of 25 officers listed in 2024 are compensated.

Officers on the 2024 filing

  • Palmer Gary E.

    President & CEO

    On filings since 2021

    55 hrs/week

    $865K (2021) → $1.8M (2024)

  • Sagar Ken

    Chair

    Board Member → Chair, 2023

    On filings since 2021

    4 hrs/week

    No compensation reported

  • Guzman Antonio S.

    Director of It

    On filings since 2021

    55 hrs/week

    $205K (2021) → $245K (2024)

  • Atkin Ann M.

    Former Officer

    Senior Vp-Chief Operating Officer → Former Officer, 2024

    On filings since 2021

    $466K (2021) → $240K (2024)

  • Castelline Elaine M.

    Vice President of Finance & CFO

    On filings since 2021

    55 hrs/week

    $269K (2021) → $272K (2024)

  • Heldt Derron D.

    Vice President of Racing

    On filings since 2021

    55 hrs/week

    $239K (2021) → $299K (2024)

  • Pursley Clinton W.

    Senior Vice President of Security

    Vice President of Security → Senior Vice President of Security, 2023

    On filings since 2021

    55 hrs/week

    $257K (2021) → $367K (2024)

  • Stewart Julie

    Senior Vice President of Business Development

    Vice President of Community Relations → Vice President of Business Development, 2022

    Vice President of Business Development → Senior Vice President of Business Development, 2023

    On filings since 2021

    55 hrs/week

    $199K (2021) → $343K (2024)

  • Wilkie Michele

    Executive Vice President

    Senior Vice President of Administration & CAO → Executive Vice President of Administration & CAO, 2023

    Executive Vice President of Administration & CAO → Executive Vice President, 2024

    On filings since 2021

    55 hrs/week

    $274K (2021) → $586K (2024)

  • Ohorilko Brian J.

    Senior Vice President of Administration

    New on the 2024 filing

    55 hrs/week

    $255K (2024)

  • Grandquist Linda

    Secretary

    Board Member → Secretary, 2023

    On filings since 2021

    4 hrs/week

    No compensation reported

  • Martin Marty

    Board Member

    On filings since 2021

    4 hrs/week

    No compensation reported

  • Neville Dr Steven

    Vice Chair

    Board Member → Secretary, 2022

    Secretary → Vice Chair, 2023

    On filings since 2021

    4 hrs/week

    No compensation reported

  • O'Hollearn Bob

    Board Member

    On filings since 2021

    4 hrs/week

    No compensation reported

  • Voss Susan

    Board Member

    On filings since 2021

    4 hrs/week

    No compensation reported

  • Costa Chris

    Board Member

    On filings since 2022

    4 hrs/week

    No compensation reported

  • Lin Dr Ian

    Board Member

    On filings since 2022

    4 hrs/week

    No compensation reported

  • Mauro John

    Board Member

    On filings since 2022

    4 hrs/week

    No compensation reported

  • Copley Todd

    Board Member

    On filings since 2023

    4 hrs/week

    No compensation reported

  • Leech Deb

    Board Member

    On filings since 2023

    4 hrs/week

    No compensation reported

  • Morse Andrea

    Board Member

    On filings since 2023

    4 hrs/week

    No compensation reported

  • Wangsness Jeff

    Board Member

    On filings since 2023

    4 hrs/week

    No compensation reported

  • Gorsche Jim

    Board Member

    New on the 2024 filing

    4 hrs/week

    No compensation reported

  • Linderbaum Denny

    Board Member

    New on the 2024 filing

    4 hrs/week

    No compensation reported

  • Nehring Joe

    Board Member

    New on the 2024 filing

    4 hrs/week

    No compensation reported

Former officers (34)
  • Former: Albaugh Dennis (2021–2023) — Chair
  • Former: Homan Danny (2021–2023) — Board Member
  • Former: Llambias Edward John Paul (2021–2023) — Vice President of Casino Ops
  • Former: Simon Mary (2021–2023) — Vice Chair
  • Former: Chittenden Bob (2021–2022) — Board Member
  • Former: Marasco Frank (2021–2022) — Board Member
  • Former: Neugent Gerry (2021–2022) — Immediate Past Chair
  • Former: Radia Suku (2021–2022) — Chairman
  • Former: Rhines Bradley Christopher (2021–2022) — Executive Vice President
  • Former: Rasmussen Kurt (2021) — Board Member
  • Former: Ann Atkin (2020) — Senior Vp-Chief Operating Officer
  • Former: Antonio Guzman (2020) — Director of It
  • Former: Bob Chittenden (2020) — Board Member
  • Former: Bob O'Hollearn (2020) — Board Member
  • Former: Bradley Rhines (2020) — Executive Vice President
  • Former: Clinton Pursley (2020) — Vice President of Security
  • Former: Danny Homan (2020) — Board Member
  • Former: Dennis Albaugh (2020) — Executive Committee
  • Former: Derron Heldt (2020) — Vice President of Racing
  • Former: Edward Llambias (2020) — Vice President of Casino Ops
  • Former: Elaine Castelline (2020) — Vice President of Finance & CFO
  • Former: Frank Marasco (2020) — Board Member
  • Former: Gary Palmer (2020) — President & CEO
  • Former: Gerry Neugent (2020) — Chairman
  • Former: Ken Sagar (2020) — Board Member
  • Former: Kurt Rasmussen (2020) — Immediate Past Chair
  • Former: Linda Grandquist (2020) — Board Member
  • Former: Mark Cooper (2020) — Board Member
  • Former: Marty Martin (2020) — Board Member
  • Former: Mary Simon (2020) — Secretary
  • Former: Michael Gartner (2020) — Past Secretary
  • Former: Michele Wilkie (2020) — Vice President of Human Resources
  • Former: Suku Radia (2020) — Vice Chair
  • Former: Susan Voss (2020) — Board Member

Data from IRS Form 990 filings, 2020–2024. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.

Compensation Overview

From 2024 IRS filing

Palmer Gary E — President, CEO: $1.8MPalmer Gary EPresident, CEO$1.8MWilkie Michele — Executive VP: $586KWilkie MicheleExecutive VP$586KPursley Clinton W — Sr VP of Security: $367KPursley Clinton WSr VP of Security$367KStewart Julie — Sr VP of Business Development: $343KStewart JulieSr VP of Business Development$343KHeldt Derron D — VP of Racing: $299KHeldt Derron DVP of Racing$299KCastelline Elaine M — VP of Finance, CFO: $272KCastelline Elaine MVP of Finance, CFO$272KOhorilko Brian J — Sr VP of Administration: $255KOhorilko Brian JSr VP of Administration$255KGuzman Antonio S — Director of It: $245KGuzman Antonio SDirector of It$245KAtkin Ann M — Former Officer: $240KAtkin Ann MFormer Officer$240K

The highest reported compensation on the 2024 filing was $1.8M, to Palmer Gary E (President, CEO). 9 officers or directors reported compensation on that filing.

Contact

Mailing address: PO Box 1000, Altoona, IA 50009
Phone: (515) 967-1000
Website: https://prairiemeadows.com

Frequently asked questions about Prairie Meadows Race Track and Casino Inc

How much does Prairie Meadows Race Track and Casino Inc give each year?

Prairie Meadows Race Track and Casino Inc gave $33.0M across 409 grants in 2024, according to its 2024 IRS Form 990. In 2023 it gave $32.0M across 273 grants.

What is Prairie Meadows Race Track and Casino Inc's typical grant size?

Prairie Meadows Race Track and Casino Inc's median grant in 2024 was $15,000, and its average grant was $80,692, across 409 grants on its 2024 IRS Form 990.

Where does Prairie Meadows Race Track and Casino Inc give grants?

Prairie Meadows Race Track and Casino Inc gives mostly in Iowa: 98% of the grant dollars itemized on its 2024 IRS Form 990 went to recipients there. The most frequent recipient cities were Des Moines, IA (183 grants), West Des Moines, IA (36 grants), Altoona, IA (32 grants) and Johnston, IA (15 grants).

Does Prairie Meadows Race Track and Casino Inc give general operating support?

Occasionally: 0% of Prairie Meadows Race Track and Casino Inc's 2024 grants with a stated purpose (1 of 409) were for general or operating support, per its 2024 IRS Form 990. Recurring purposes include "School Support" (11 grants) and "Sponsorship" (3 grants).

Who are Prairie Meadows Race Track and Casino Inc's largest grantees?

Prairie Meadows Race Track and Casino Inc's largest 2024 grantees include Polk County Iowa ($11,525,151), City of Des Moines ($5,005,964 across 3 grants) and Des Moines Park & Recreation Foundation ($900,000), according to its 2024 IRS Form 990. Together they received 53% of its itemized 2024 grant dollars.

How large is Prairie Meadows Race Track and Casino Inc?

Prairie Meadows Race Track and Casino Inc reported $327.6M in total assets on its 2024 IRS Form 990. Its revenue that year was $2.5B.

What does Prairie Meadows Race Track and Casino Inc fund?

Prairie Meadows states that it operates for the promotion of social welfare and economic development, including providing community recreation and a generally positive economic impact in central Iowa. See mission & focus areas ↑

How do I apply for a grant from Prairie Meadows Race Track and Casino Inc?

Prairie Meadows Race Track and Casino Inc has no public application process in the sources Grantable reviewed. Check prairiemeadows.com for current guidelines, or contact the foundation directly before submitting a request.

What is Prairie Meadows Race Track and Casino Inc's EIN?

Prairie Meadows Race Track and Casino Inc's EIN (Employer Identification Number) is 42-1244913. IRS Form 990 filing data is available on this page for 2020–2024.

Data last updated September 2026. Sourced from IRS Form 990 filings. Research dossier generated September 2026.

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