2021-11-09T00:19:08-06:00 2020-12-31 861065772 Deloitte Tax LLP 50 South Sixth Street Suite 2800 Minneapolis MN 55402 990 2020-01-01 421244913 Prairie Meadows Race Track and Casino Inc PRAI 5159671000 PO Box 1000 Altoona IA 50009 Elaine Castelline VP of Finance/CFO 5159671000 2021-11-08 1 Elaine Castelline 999009999 Anna Kolakaluri P01275237 6123974000 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z Elaine Castelline PO Box 1000 Altoona IA 50009 1698447273 0 X www.prairiemeadows.com X 1984 IA Operated exclusively for the promotion of social welfare and the economic development in central Iowa in close conjunction with state and local government. 13 13 1381 17 0 0 0 0 2338784544 1698333523 328021 103925 4475 2283 2339117040 1698439731 22036915 13452298 0 0 65396331 43627532 0 0 0 2233652606 1639897742 2321085852 1696977572 18031188 1462159 125940707 119926280 38690270 31226959 87250437 88699321 X See Schedule OPursuant 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 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. 0 0 1685064318 13452298 1698335806 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. See Continuation on Schedule OIn 2020, $7.5 million of PMRC's profits were distributed to Polk County, approximately $2.3 million to the City of Des Moines, and approximately $3.7 million were distributed to organizations such as the United Way ($1.0 million), the Polk County School Districts (approximately $526,000), Des Moines Area Religious Council ($516,000), and the Greater Des Moines Partnership ($230,000). 1685064318 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 1 26560 26029 1 1381 1 0 0 0 0 0 0 0 0 X 13 13 0 0 0 0 0 1 1 1 1 0 0 1 1 1 1 1 1 1 1 1 0 X Elaine Castelline 5159671000 PO Box 1000 Altoona IA 50009 Dennis Albaugh Executive Committee 4.00 0.00 X 0 0 0 Bob Chittenden Board Member 4.00 0.00 X 0 0 0 Mark Cooper Board Member (end 11/20)) 4.00 0.00 X 0 0 0 Michael Gartner Past Secretary (end 11/20) 4.00 0.00 X 0 0 0 Linda Grandquist Board Member (start 11/20) 5.00 0.00 X 0 0 0 Danny Homan Board Member (start 11/20) 4.00 0.00 X 0 0 0 Frank Marasco Board Member 4.00 0.00 X 0 0 0 Marty Martin Board Member 4.00 0.00 X 0 0 0 Gerry Neugent Chairman 4.00 0.00 X 0 0 0 Bob O'Hollearn Board Member 4.00 0.00 X 0 0 0 Suku Radia Vice Chair 4.00 0.00 X 0 0 0 Kurt Rasmussen Immediate Past Chair 4.00 0.00 X 0 0 0 Ken Sagar Board Member 4.00 0.00 X 0 0 0 Mary Simon Secretary 4.00 0.00 X 0 0 0 Susan Voss Board Member 4.00 0.00 X 0 0 0 Gary Palmer President, CEO 55.00 0.00 X 926684 0 48676 Bradley Rhines Executive Vice President 55.00 0.00 X 531371 0 60361 Ann Atkin SR VP-Chief Operating Officer 55.00 0.00 X 493904 0 38729 Elaine Castelline Vice President of Finance, CFO 55.00 0.00 X 289387 0 46596 Edward Llambias VP of Casino Ops 55.00 0.00 X 278660 0 55511 Clinton Pursley VP of Security 55.00 0.00 X 271104 0 55577 Derron Heldt VP of Racing 55.00 0.00 X 265323 0 59518 Michele Wilkie VP of Human Resources 55.00 0.00 X 257080 0 51032 Antonio Guzman Director of IT 55.00 0.00 X 220761 0 43050 3534274 0 459050 29 0 1 0 Data Business Equipment 10513 Buena Vista Ct Des Moines IA 50322 Equipment Repair/Maintenance 447139 Global Payment Systems LLC PO Box 66700 Chicago IL 60666 Check Processing 332272 Brick Gentry Bowers Swartz 6701 Westown Pkwy Ste 100 West Des Moines IA 50266 Attorneys 319027 Roberts Communications Network LLC 11411 S Highlands Pkwy Ste 180 Las Vegas NV 89141 Transmission Processing 217386 Automatic Data Processing One ADP Blvd Roseland NJ 07068 Processing Services 200542 19 Casino & Hotel 721120 1624712606 1624712606 Pari-Mutuel Revenue 721120 51822409 51822409 Sportsbook 721120 10659919 10659919 Food & Beverage 722320 9201898 9201898 Gift Shop 453220 260580 260580 1676111 1676111 1698333523 48461 48461 63006 7542 55464 55464 55464 Returned Grants 900099 2283 2283 2283 1698439731 1698335806 0 103925 13452298 13452298 2241346 2241346 30712952 30712952 2009930 1893421 116509 5208295 5051194 157101 3455009 3372407 82602 165648 165648 136587 136587 1931071 1931071 1214512 1049839 164673 1131094 1131094 16398407 16376434 21973 23782 3373 20409 145 70 75 8568 8568 5459858 5459858 1991807 1991807 Casino/Pari-Mutuel Exp. 1517187952 1517187952 State Tax Gaming/Wager 34475642 34475642 Other Exp-Utilities 22992175 17405201 5586974 Purse & Purse Suppl. 21187814 21187814 15592680 15504792 87888 1696977572 1685064318 11913254 0 55096449 44732006 52510541 58861533 1896385 2674538 489067 385049 1687199 1881307 75630734 64300958 14198995 11329776 62071 62071 125940707 119926280 22822836 19649970 15867434 11576989 38690270 31226959 X 87250437 88699321 87250437 88699321 125940707 119926280 X 1462159 -13275 X 0 1 X 1 0 3256325 550444 2705881 65240356 57719999 7520357 7134053 6030515 1103538 11329776 Polk County Payable 8493441 City of Des Moines Payable 2980526 Current Notes Payable 103022 11576989 X 157535233 0 157535233 1540904498 1540904498 1698439731 156123028 0 156123028 1540854544 1540854544 1696977572 Part X, Line 2: As of December 31, 2020 and 2019, the Non-profit determined that there are no tax benefits or liabilities associated with uncertain tax positions. No interest or penalties have been accrued in the statements of activities and change in net assets. The Non-profit's calendar years for 2017 on remain subject to examination by the governing tax authorities. Part XI, Line 4b - Other Adjustments: Adjustment of Casino, Pari-Mutuel, Food & Beverage, Banquet, Gift Shop 1,540,788,229. Equibase income and interest income 58,522. Reclass gain on sale of fixed assets 55,464. Recoveries of Prior Year Grants 2,283. Part XII, Line 4b - Other Adjustments: Adjustment of Casino, Pari-Mutuel, Food & Beverage, Banquet, Gift Shop 1,540,788,229. Interest Expense 8,568. Recoveries of Prior Year Grants 2,283. Reclass gain on sale of fixed assets 55,464. 1 Altoona Area Chamber of Commerce 119 2nd Street SE Ste A Altoona IA 50009 421146309 501(c)(4) 6927 2020 Annual Awards Table Altoona Economic Development 801 Grand Suite 4100 Des Moines IA 50309 261460205 501(c)(4) 50000 Altoona support Altoona Kiwanis Club 1209 11th Ave SE Altoona IA 50009 421393058 501(c)(4) 230 Pancakes with Santa American Legion Auxiliary 720 Lyons St Des Moines IA 50309 420113070 501(c)(19) 10000 Vets of Valor American Legion Post 232 114 W Broadway St Polk City IA 50226 426076875 501(c)(19) 5000 Miscellaneous Ankeny Community School District 306 SW School St Ankeny IA 500210189 426021919 501(c)(3) 70178 Prairie Meadows Polk County Joint Donation to the Students of Polk County Ballard Huxley School District PO Box 307 Huxley IA 501240307 464989937 501(c)(3) 35 Prairie Meadows Polk County Joint Donation to the Students of Polk County Big Brothers Big Sisters of Central Iowa 9051 Swanson Blvd Clive IA 50325 421184999 501(c)(3) 2500 Bowl for Kids Sake Bondurant Farrar Education Foundation PO Box 212 Bondurant IA 50035 263773696 501(c)(3) 500 Party of Bluejays Bondurant Farrar School District 1000 Grant St Bondurant IA 50035 426037271 501(c)(3) 11275 Prairie Meadows Polk County Joint Donation to the students of Polk Coutny BRAVO Greater Des Moines 700 Locust Street Ste 300 Des Moines IA 50309 203598346 501(c)(3) 5000 Miscellaneous Carlisle Community School District 430 School Street Carlisle IA 50047 420898003 501(c)(3) 4076 Prairie Meadows Polk County Joint Donation to the Students of Polk County City of Des Moines Iowa PO Box 1633 Des Moines IA 503051633 426004514 Gov't Entity 2980526 Tax Rate Sharing Contribution Collins-Maxwell Community School District 14142 NE 112th Street Maxwell IA 50161 426036681 501(c)(3) 85 Prairie Meadows Polk County Joint Donation to the Students of Polk County Community Foundation of Greater Des Moines 1915 Grand Ave Des Moines IA 50309 426139033 501(c)(3) 20000 Evelyn Davis Park commitment- final payment of $20,000 for a total of $100,000.00 Dallas Center Grimes Community School District PO Box 512 Dallas Center IA 50063 426001334 501(c)(3) 12827 Prairie Meadows Polk County Joint Donation to the Students of Polk County Des Moines Area Community College Foundation 2006 S Ankeny Blvd Bldg 22 Ankeny IA 50023 237229486 501(c)(3) 25000 2020 CEO Golf Invitational Des Moines Area Religious Council 3816 36th St Ste 202 Des Moines IA 50310 420788211 501(c)(3) 516129 Spring Greens, DMARC's signature annual event Des Moines Arts Festival 700 Locust Street Ste 100 Des Moines IA 50309 421471969 501(c)(3) 2150 Arts Festival REVEAL Des Moines East & South Chamber Of Commerce 130 East 3rd St Ste 301 Des Moines IA 50309 426098416 501(c)(6) 3252 Miscellaneous Des Moines Independent Community School District 2323 Grand Ave Des Moines IA 50312 426001433 501(c)(3) 228398 Prairie Meadows Polk County Joint Donation to the Students of Polk County Drake University 2507 University Ave Des Moines IA 50312 420680460 501(c)(3) 28040 Donation fundraiser golf and All-Star Evening East High School Alumni Foundation 2420 E University Des Moines IA 50317 421274378 501(c)(3) 3000 East High Golf Classic Food Bank of Iowa PO Box 1517 Des Moines IA 50305 421177880 501(c)(3) 500000 Mobile Food Pantry's to assist Polk County Citizens during COVID Give Foundation - Golf for Injured Veterans Everywhere Highway 22 Riverside IA 53327 900397932 501(c)(3) 5000 Support Veterans Greater Des Moines Botanical Garden 909 Robert D Ray Drive Des Moines IA 50309 420540765 501(c)(3) 750 Miscellaneous Greater Des Moines Habitat for Humanity 2200 E Euclid Ave Des Moines IA 50317 421275330 501(c)(3) 10000 Housing Greater Des Moines Partnership 700 Locust St Ste 100 Des Moines IA 50309 421489668 501(c)(6) 230000 2022 Investor Commitment (Year 3 of 5) Healthy Birth Day Inc PO Box 71093 Clive IA 50325 263998964 501(c)(3) 2200 Every Woman Counts Luncheon Hope After Racing Thoroughbreds PO Box 1000 Altoona IA 50009 451595018 501(c)(3) 1500 1 Month Rehabilitation Coverage of four Ex Thoroughbreds Johnston Community School District 5608 Merle Hay Rd Johnston IA 50131 426002176 501(c)(3) 45422 Prairie Meadows Polk County Joint Donation to the Students of Polk County Juvenile Diabetes Research Foundation 4515 Fleur Drive Ste 203 Des Moines IA 50321 231907729 501(c)(3) 12000 One Walk & Ride to Cure Diabetes Madrid Community School District 201 North Main Madrid IA 50156 426002506 501(c)(3) 170 Prairie Meadows Polk County Joint Donation to the Students of Polk County North Polk Community School District 13930 NE 6th Street Alleman IA 50007 426023656 501(c)(3) 9882 Prairie Meadows Polk County Joint Donation to the Students of Polk County Pleasant Hill Chamber of Commerce 5160 Maple Drive Suite C Pleasant Hill IA 50327 421307305 501(c)(6) 7150 2020 Membership/ sponsorships Pleasant Hill Lions Foundation PO Box 57432 Pleasant Hill IA 50327 823685238 501(c)(3) 500 Fishing DerbySoup Supper Polk County Iowa 111 Court Ave Rm 315 Des Moines IA 50309 426004519 Gov't Entity 7485086 Net Receipts Contribution Prairie City Monroe School District 309 E Plainsman Rd Prairie City IA 50228 421358436 Gov't Entity 52 Prairie Meadows Polk County Joint Donation to the Students of Polk County Pta Iowa Congress 301 6th Street SW Altoona IA 50009 421503298 501(c)(3) 500 2020 Golf in the Halls -- Altoona Elementary Rotary Club of East Polk County 1209 11th Ave SE Altoona IA 50009 421149774 501(c)(4) 2500 Industrial Tech Expo Rotary International PO Box 7641 Urbandale IA 50323 421143535 501(c)(4) 2560 Ankeny Rotary Fundraiser Saydel Community School District 5740 NE 14th Street Des Moines IA 50313 426017814 501(c)(3) 8238 Prairie Meadows Polk County Joint Donation to the Students of Polk County Southeast Polk Education Foundation PO Box 391 Altoona IA 50009 473140824 501(c)(3) 394 Miscellaneous Southeast Polk School District 308 Elm Ave NW Mitchellville IA 50170 420863054 Gov't Entity 47162 Prairie Meadows Polk County Joint Donation tot he Students of Polk County The Salvation Army PO Box 933 Des Moines IA 50304 362167910 501(c)(3) 5000 Miscellaneous Union Sportsmen's Alliance 3340 Permeter Hill Dr Nashville TN 37211 272345009 501(c)(3) 2428 Union Sportsmen's Conservation Dinner United Way of Central Iowa 1111 Ninth Street Ste 100 Des Moines IA 50314 420680425 501(c)(3) 1000000 Grant for community housing Urbandale Community School District 3305 92nd Street Urbandale IA 50322 426039212 501(c)(3) 23924 Prairie Meadows Polk County Joint Donation to the Students of Polk County West Des Moines Community School District 8355 Franklin Ave Clive IA 50324 426004027 Gov't Entity 63688 Prairie Meadows Polk County Joint Donation to the Students of Polk County Woodward-Granger Community School District 306 West 3rd Street Woodward IA 50276 420888438 Gov't Entity 1064 Prairie Meadows Polk county Joint Donation to the Students of Polk County 40 10 Part I, Line 2: Site visits are done with selected grantees. All grantees are required to sign a grant agreement and return a completed grant evaluation report at the conclusion of the year or the project. Reports are reviewed and logged. Appropriate action is taken if a grantee has not completed their proposed project or if funds were left over and not spent. Any unused funds are returned to us. X 1 1 X X X X 0 0 0 0 0 0 0 1 0 Gary Palmer President, CEO 584299 0 252000 0 90385 0 29625 0 19051 0 975360 0 0 0 Bradley Rhines Executive Vice President 381748 0 126113 0 23510 0 29625 0 30736 0 591732 0 0 0 Ann Atkin SR VP-Chief Operating Officer 337407 0 126154 0 30343 0 29625 0 9104 0 532633 0 0 0 Elaine Castelline Vice President of Finance, CFO 210133 0 66390 0 12864 0 27636 0 18960 0 335983 0 0 0 Edward Llambias VP of Casino Ops 209657 0 61995 0 7008 0 26407 0 29104 0 334171 0 0 0 Clinton Pursley VP of Security 202504 0 63866 0 4734 0 27313 0 28264 0 326681 0 0 0 Derron Heldt VP of Racing 184948 0 60617 0 19758 0 26172 0 33346 0 324841 0 0 0 Michele Wilkie VP of Human Resources 180344 0 64726 0 12010 0 23014 0 28018 0 308112 0 0 0 Antonio Guzman Director of IT 167250 0 41877 0 11634 0 21922 0 21128 0 263811 0 0 0 Part I, Line 1a PMRC occasionally provides tax gross-up payments for small awards provided during the year. Part I, Line 7 Board of Directors set criteria and goals based on the business strategic plan. Goals are also set on an individual basis and approved. The formula is set prior to or early in the tax year, and based on the formula, the incentive is paid, if due. Albaugh Family Stable LLC Board Member 135746 Horse owner with purse winnings reported as other income on 1099-MISC. 0 River Ridge Ranch Family of Kurt Rasmussen, Board Member 264347 Horse owner with purse winnings reported as other income on 1099-MISC. 0 Schedule L, Part IV, Business Transactions Involving Interested Persons: Prairie Meadows paid the Albaugh Family Stables LLC purse and supplement money. Purse and supplement money is a prize earned by a horse running in individual races and placing as one of the top finishers. All eligible horses are accepted into races pursuant to the Iowa Racing and Gaming Commission rules. Prairie Meadows' bylaws require one of its board members to have ownership interest in an Iowa-bred horse which has raced at Prairie Meadows. Mr. Albaugh became the horse representative for the horse industry beginning in November 2017 and was reappointed in 2020. Schedule L, Part IV, Business Transactions Involving Interested Persons: Prairie Meadows paid the River Ridge Ranch purse and supplement money. Purse and supplement money is a prize earned by a horse running in individual races and placing as one of the top finishers. All eligible horses are accepted into races pursuant to the Iowa Racing and Gaming Commission rules. Form 990, Part VI, Section A, line 7a A thirteen-member board composition is based on the bylaws. The board is comprised of five at-large representatives that have been selected from the community, four members appointed by Polk County, one member appointed by the Greater Des Moines Partnership, one member appointed by the Polk-Des Moines Taxpayers Association, one member appointed by the South Central Iowa Federation of Labor, and the five at-large representatives nominate one member affiliated with the horse industry and the full board votes on the nomination. The Greater Des Moines Partnership has the right to appoint two additional non-voting consultants to the board. None of the members received compensation for their services to the Non-Profit and they must meet IRGC Licensing requirements. Form 990, Part VI, Section A, line 7b The Iowa Racing and Gaming Commission (IRGC) has oversight of our gaming, sportsbook and racing activities. Form 990, Part VI, Section B, line 11b Form 990 is prepared by an external tax accounting firm and reviewed by the accounting staff including the VP/CFO. Before the return is submitted to the federal government, it is first reviewed by the Finance Committee with a final review done by the Executive Committee. Both committees are comprised of board members. All board members receive a copy of the Form 990 prior to filing. Form 990, Part VI, Section B, line 12c A conflict of interest letter is sent each year to members of the board and staff along with the conflict of interest policy, asking members to disclose any potential conflict of interest. The members are asked to update the conflict of interest memo any time during the year. The board chair or board counsel reminds members before an item that requires deliberations and decision making that they are to disclose any conflict and abstain from voting. Form 990, Part VI, Section B, line 15 An independent compensation study was commission in 2019 for all of the officers and top 5 employees. The compensation for the officers and CEO are determined using a compensation committee, an ad hoc committee of the Executive Committee. Data is based on industry surveys, documented compensation of persons holding similar positions in similar organizations, expert compensation studies or other comparable data. All decisions and actions taken by the compensation committee are fully documented. In 2020, the data was reviewed for reasonableness with Executive Committee. Form 990, Part VI, Section C, line 19 The governing documents are available on request as are the financial statements. The conflict of interest policy is accessible on our website and on request. Form 990, Part XI, line 9: Additional K-1 Income -13,275.