Prairie Meadows Race Track and Casino
Prairie Meadows Race Track and Casino is a nonprofit, locally-managed entertainment and gaming facility located in Altoona, Iowa. Established in 1984 and granted tax-exempt status in March 1989, it operates as one of only two nonprofit casinos in the nation. The organization functions as a 501(c)(4) civic league and social welfare organization dedicated to promoting community welfare through economic development, jobs, agriculture, and tourism in central Iowa.
Financial Overview
From 2024 IRS Form 990-PF · 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
Mission & Focus Areas
Prairie Meadows operates exclusively for the promotion of social welfare and economic development. The organization is required by Iowa Code Section 99F.6(4)(a) to distribute its profits for "educational, civic, public, charitable, patriotic, or religious" uses.
The organization supports nonprofit proposals and projects across the following areas:
- Arts and culture
- Education
- Economic development
- Human services
- Youth sports and recreation
- Community betterment
Grantmaking
Prairie Meadows distributes funding through three primary grant programs:
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Geographic Focus
Where this funder awards grants
Prairie Meadows focuses its funding on central Iowa, with particular emphasis on Polk County and the Des Moines metropolitan area.
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
Fiscal Year 2024:
- Total Revenue: $2,532,959,229
- Total Expenses: $2,509,985,876
- Total Assets: $327,636,033
- Total Liabilities: $89.7 million
- Net Income: $40,010,845
Staffing: The organization employs 1,365 employees.
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| 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 |
| Qualifying Distributions | — | — | — |
| Net Investment Income | $3,498,046 | $2,415,949 | $437,958 |
| Distributable Amount | — | — | — |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
250 grants across all recorded years
Open Grants
6 open opportunities from Prairie Meadows Race Track and Casino
Community Betterment Grant Program
PRAIRIE MEADOWS RACE TRACK AND CASINO
Amount
$100 - $99,999
Deadline
Rolling / Open
Legacy Grant Program
PRAIRIE MEADOWS RACE TRACK AND CASINO
Amount
$100,000 - $1,000,000
Deadline
Rolling / Open
PMRTC: Community Betterment Grant Program
PRAIRIE MEADOWS RACE TRACK AND CASINO
Amount
US $100 - US $99,999
Deadline
Rolling / Open
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| COPLEY TODD | BOARD MEMBER (END 10/24) | 4 | — |
| COSTA CHRIS | BOARD MEMBER | 4 | — |
| GORSCHE JIM | BOARD MEMBER (START 11/24) | 4 | — |
| GRANDQUIST LINDA | SECRETARY | 4 | — |
| LEECH DEB | BOARD MEMBER | 4 | — |
| LIN DR IAN | BOARD MEMBER | 4 | — |
| LINDERBAUM DENNY | BOARD MEMBER (START 11/24) | 4 | — |
| MARTIN MARTY | BOARD MEMBER (END 11/24) | 4 | — |
| MAURO JOHN | BOARD MEMBER | 4 | — |
| MORSE ANDREA | BOARD MEMBER | 4 | — |
| NEHRING JOE | BOARD MEMBER (START 10/24) | 4 | — |
| NEVILLE DR STEVEN | VICE CHAIR | 4 | — |
| O'HOLLEARN BOB | BOARD MEMBER | 4 | — |
| SAGAR KEN | CHAIR | 4 | — |
| VOSS SUSAN | BOARD MEMBER (END 11/24) | 4 | — |
| WANGSNESS JEFF | BOARD MEMBER | 4 | — |
| PALMER GARY E | PRESIDENT, CEO | 55 | $1,819,142 |
| WILKIE MICHELE | EXECUTIVE VP | 55 | $585,561 |
| CASTELLINE ELAINE M | VP OF FINANCE, CFO | 55 | $272,421 |
| STEWART JULIE | SR VP OF BUSINESS DEVELOPMENT | 55 | $342,698 |
| PURSLEY CLINTON W | SR VP OF SECURITY | 55 | $366,910 |
| HELDT DERRON D | VP OF RACING | 55 | $299,296 |
| OHORILKO BRIAN J | SR VP OF ADMINISTRATION | 55 | $254,765 |
| GUZMAN ANTONIO S | DIRECTOR OF IT | 55 | $245,324 |
| ATKIN ANN M | FORMER OFFICER | — | $239,503 |
Recent News & Activity
Recent developments and announcements
Prairie Meadows announced a $5 million distribution through its Legacy Grant Program, with awards supporting infrastructure improvements at Des Moines Public Schools and human services programs in the West Des Moines area. The organization has also directed grant funding toward sexual abuse prevention initiatives in partnership with community organizations.
Prairie Meadows Legacy Grant Supports Upgrades to Track and Practice FieldsRelated Funders
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Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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