ALTOONA, IA
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)PRAIRIE MEADOWS RACE TRACK AND CASINO INC, founded in 1984, is a large national nonprofit that reported $2.5B in total revenue in fiscal year 2024.
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.
PRAIRIE MEADOWS RACE TRACK AND CASINO, INC. (PMRC) IS A NOT-FOR-PROFIT CORPORATION WHOSE MEMBERS CONSIST OF GOVERNMENT, CIVIC AND BUSINESS REPRESENTATIVES IN CENTRAL IOWA AND WHICH OPERATES A RACE...
PRAIRIE MEADOWS RACE TRACK AND CASINO, INC. (PMRC) IS A NOT-FOR-PROFIT CORPORATION WHOSE MEMBERS CONSIST OF GOVERNMENT, CIVIC AND BUSINESS REPRESENTATIVES IN CENTRAL IOWA AND WHICH OPERATES A RACE TRACK, CASINO AND RELATED FACILITIES IN FURTHERANCE OF ITS MISSION TO PROMOTE SOCIAL WELFARE AND ECONOMIC DEVELOPMENT. AS A NOT-FOR-PROFIT CORPORATION, AND PURSUANT TO SECTION 99F.6(4)(A) OF THE IOWA CODE, PMRC IS REQUIRED TO DISTRIBUTE ITS PROFITS FOR "EDUCATIONAL, CIVIC, PUBLIC, CHARITABLE, PATRIOTIC, OR RELIGIOUS" USES AS DEFINED IN SECTION 99B.7(3) (B) OF THE IOWA CODE. ACCORDINGLY, PMRC'S PROFITS HAVE BEEN DISTRIBUTED AS REQUIRED BY IOWA CODE. IN 2024, $11.5 MILLION OF PMRC'S PROFITS WERE DISTRIBUTED TO POLK COUNTY, $4.9 MILLION TO THE CITY OF DES MOINES, $16.8 MILLION WAS DISTRIBUTED TO ORGANIZATIONS SUCH AS THE POLK COUNTY SCHOOL DISTRICTS ($874,000), AND THE GREATER DES MOINES PARTNERSHIP ($350,000).
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 2024 | 2023 | Change | |
|---|---|---|---|
| Revenue | $2,532,959,229 | $2,595,228,457 | 0.0% |
| Expenses | $2,509,985,876 | $2,555,217,612 | 0.0% |
| Net Income | $22,973,353 | $40,010,845 | -0.4% |
Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics
Financial Distress Indicator
Liquidity & Cash Position
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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics
Sign In| Name | Title | Hours/Week | Role | Reportable Comp | Other Comp | Total |
|---|---|---|---|---|---|---|
| COPLEY TODD | BOARD MEMBER (END 10/24) | 4.00 |
Director
|
$0 | $0 | $0 |
| COSTA CHRIS | BOARD MEMBER | 4.00 |
Director
|
$0 | $0 | $0 |
| GORSCHE JIM | BOARD MEMBER (START 11/24) | 4.00 |
Director
|
$0 | $0 | $0 |
| GRANDQUIST LINDA | SECRETARY | 4.00 |
Director
|
$0 | $0 | $0 |
| LEECH DEB | BOARD MEMBER | 4.00 |
Director
|
$0 | $0 | $0 |
| LIN DR IAN | BOARD MEMBER | 4.00 |
Director
|
$0 | $0 | $0 |
| LINDERBAUM DENNY | BOARD MEMBER (START 11/24) | 4.00 |
Director
|
$0 | $0 | $0 |
| MARTIN MARTY | BOARD MEMBER (END 11/24) | 4.00 |
Director
|
$0 | $0 | $0 |
| MAURO JOHN | BOARD MEMBER | 4.00 |
Director
|
$0 | $0 | $0 |
| MORSE ANDREA | BOARD MEMBER | 4.00 |
Director
|
$0 | $0 | $0 |
| NEHRING JOE | BOARD MEMBER (START 10/24) | 4.00 |
Director
|
$0 | $0 | $0 |
| NEVILLE DR STEVEN | VICE CHAIR | 4.00 |
Director
|
$0 | $0 | $0 |
| O'HOLLEARN BOB | BOARD MEMBER | 4.00 |
Director
|
$0 | $0 | $0 |
| SAGAR KEN | CHAIR | 4.00 |
Director
|
$0 | $0 | $0 |
| VOSS SUSAN | BOARD MEMBER (END 11/24) | 4.00 |
Director
|
$0 | $0 | $0 |
| WANGSNESS JEFF | BOARD MEMBER | 4.00 |
Director
|
$0 | $0 | $0 |
| PALMER GARY E | PRESIDENT, CEO | 55.00 |
Officer
|
$1,819,142 | $54,312 | $1,873,454 |
| WILKIE MICHELE | EXECUTIVE VP | 55.00 |
Officer
|
$585,561 | $66,145 | $651,706 |
| CASTELLINE ELAINE M | VP OF FINANCE, CFO | 55.00 |
Officer
|
$272,421 | $19,633 | $292,054 |
| STEWART JULIE | SR VP OF BUSINESS DEVELOPMENT | 55.00 |
Highest
|
$342,698 | $73,853 | $416,551 |
| PURSLEY CLINTON W | SR VP OF SECURITY | 55.00 |
Highest
|
$366,910 | $46,251 | $413,161 |
| HELDT DERRON D | VP OF RACING | 55.00 |
Highest
|
$299,296 | $56,675 | $355,971 |
| OHORILKO BRIAN J | SR VP OF ADMINISTRATION | 55.00 |
Highest
|
$254,765 | $53,393 | $308,158 |
| GUZMAN ANTONIO S | DIRECTOR OF IT | 55.00 |
Highest
|
$245,324 | $45,576 | $290,900 |
| ATKIN ANN M | FORMER OFFICER | 0.00 |
|
$239,503 | $0 | $239,503 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2024 | $2,532,959,229 | $2,509,985,876 | $327,636,033 | $22,973,353 |
| 2023 | $2,595,228,457 | $2,555,217,612 | $317,415,417 | $40,010,845 |
| 2022 | $2,499,338,526 | $2,455,002,478 | $290,547,398 | $44,336,048 |
| 2021 | $2,466,655,375 | $2,411,904,482 | $181,492,900 | $54,750,893 |
| 2020 | $1,698,439,731 | $1,696,977,572 | $119,926,280 | $1,462,159 |
| 2019 | $2,339,117,040 | $2,321,085,852 | $125,940,707 | $18,031,188 |
| 2018 | $2,316,685,174 | $2,321,118,388 | $103,971,315 | $-4,433,214 |
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