Fiscal year ending 2017. Filed on October 30, 2018.
PO Box 1000
Altoona, Iowa 50009
Prairie Meadows Race Track and Casino Inc. (EIN: 42-1244913) has filed an IRS Form 990 since at least fiscal year 2016. In its fiscal year 2017 IRS Form 990 filing, Prairie Meadows Race Track and Casino Inc., a 501(c)(4) civic league or social welfare organization, reported compensation for 10 out of 1,809 total employees. Among the employees shown here, the average compensation is $348,454. The highest compensated employee at Prairie Meadows Race Track and Casino Inc. is Gary Palmer with fiscal year 2017 compensation of $790,745.
Revenue
Expenses
Employee compensation
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.
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