Form990
Click to see attachment
Department of the Treasury
Internal Revenue Service
Return of Organization Exempt From Income Tax
Under section 501(c), 527, or 4947(a)(1) of the Internal Revenue Code (except black lung benefit trust or private foundation)

MediumBullet The organization may have to use a copy of this return to satisfy state reporting requirements.
OMB No. 1545-0047
2010
Open to Public Inspection
A For the calendar year, or tax year beginning 01-01-2010 and ending 12-31-2010
BCheck if applicable:
CName of organization
Prairie Meadows Race Track and Casino Inc
 
Doing Business As
 
 
Number and street (or P.O. box if mail is not delivered to street address)
PO Box 1000
 
Room/suite
City or town, state or country, and ZIP + 4
Altoona, IA50009
D Employer identification number

42-1244913
E Telephone number

G Gross receipts $ 2,176,930,205
F Name and address of principal officer:
Gary Palmer
PO Box 1000
Altoona,IA50009
I
Tax-exempt status: ( 4 ) LeftBullet (insert no.) or
J
Website:MediumBullet
www.prairiemeadows.com
H(a)
Is this a group return for
affiliates?
H(b)
Are all affiliates included?
If "No," attach a list. (see instructions)
H(c)
Group exemption number MediumBullet  
K Form of organization:
 
L Year of formation: 1984
M State of legal domicile: IA
Part I
Summary
Activities  & Governance 1 Briefly describe the organization’s mission or most significant activities: SEE SCHEDULE O
2 Check this box MediumBullet
3 Number of voting members of the governing body (Part VI, line 1a) .... 3 13
4 Number of independent voting members of the governing body (Part VI, line 1b) .... 4 13
5 Total number of individuals employed in calendar year 2010 (Part V, line 2a) ... 5 1,556
6 Total number of volunteers (estimate if necessary) .... 6 0
7a Total unrelated business revenue from Part VIII, column (C), line 12 .. 7a 1,685,368
b Net unrelated business taxable income from Form 990-T, line 34 .. 7b -501,407
Revenues; Prior Year Current Year
8 Contributions and grants (Part VIII, line 1h) ......... 0 0
9 Program service revenue (Part VIII, line 2g) ......... 2,270,218,851 2,176,547,105
10 Investment income (Part VIII, column (A), lines 3, 4, and 7d ) .... 361,409 374,994
11 Other revenue (Part VIII, column (A), lines 5, 6d, 8c, 9c, 10c, and 11e) 13,294 0
12 Total revenue—add lines 8 through 11 (must equal Part VIII, column (A), line 12)................... 2,270,593,554 2,176,922,099
Expenses; 13 Grants and similar amounts paid (Part IX, column (A), lines 1–3 )... 22,230,472 21,953,613
14 Benefits paid to or for members (Part IX, column (A), line 4) .... 0 0
15 Salaries, other compensation, employee benefits (Part IX, column (A), lines 5–10) 52,683,766 52,796,669
16a Professional fundraising fees (Part IX, column (A), line 11e).... 0 0
b Total fundraising expenses (Part IX, column (D), line 25) MediumBullet0    
17 Other expenses (Part IX, column (A), lines 11a–11d, 11f–24f).... 2,201,903,268 2,110,538,704
18 Total expenses. Add lines 13–17 (must equal Part IX, column (A), line 25) 2,276,817,506 2,185,288,986
19 Revenue less expenses. Subtract line 18 from line 12...... -6,223,952 -8,366,887
Net Assets or Fund Balances; Beginning of Current Year End of Year
20 Total assets (Part X, line 16)............ 91,620,980 88,909,510
21 Total liabilities (Part X, line 26)............ 25,533,169 31,205,159
22 Net assets or fund balances. Subtract line 21 from line 20 ..... 66,087,811 57,704,351
Part II
Signature Block
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than officer) is based on all information of which preparer has any knowledge.
Sign Here
JumboBullet
Signature of officer Date
JumboBullet
Type or print name and title.
Paid Preparer's Use Only Preparer's
signature
Big Right Arrow
Date
right pointing bullet image Preparer’s taxpayer identification number
(see instructions)
Firm’s name (or yours
if self-employed),
address, and ZIP + 4
Big Right Arrow




EIN right pointing bullet image
Phone no. right pointing bullet image
May the IRS discuss this return with the preparer shown above? (see instructions) .........
For Privacy Act and Paperwork Reduction Act Notice, see the separate instructions.
Cat. No. 11282Y
Form 990 (2010)
Form 990 (2010)
Page 2
Part III
Statement of Program Service Accomplishments
Check if Schedule O contains a response to any question in this Part III . . . . . . . . . .
1
Briefly describe the organization’s mission: SEE SCHEDULE O
2
Did the organization undertake any significant program services during the year which were not listed on
the prior Form 990 or 990-EZ? ....................
If “Yes,” describe these new services on Schedule O.
3
Did the organization cease conducting, or make significant changes in how it conducts, any program services? ..........................
If “Yes,” describe these changes on Schedule O.
4
Describe the exempt purpose achievements for each of the organization’s three largest program services by expenses.
Section 501(c)(3) and 501(c)(4) organizations and section 4947(a)(1) trusts are required to report the amount of grants and allocations to others, the total expenses, and revenue, if any, for each program service reported.
4a (Code:   ) (Expenses $ 2,173,211,241 including grants of $ 21,953,613 ) (Revenue $ 2,174,861,737 )
See Schedule O
4b (Code:   ) (Expenses $   including grants of $   ) (Revenue $   )
4c (Code:   ) (Expenses $   including grants of $   ) (Revenue $   )
4d Other program services. (Describe in Schedule O.)
(Expenses $   including grants of $   ) (Revenue $   )
4e Total program service expensesMediumBullet$ 2,173,211,241
Form 990 (2010)
Form 990 (2010)
Page 3
Part IV
Checklist of Required Schedules
Yes
No
1
Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)? If “Yes,” complete Schedule A.....................
1
 
No
2
Is the organization required to complete Schedule B, Schedule of Contributors? ........
2
 
No
3
Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office? If “Yes,” complete Schedule C, Part I..........
3
 
No
4
Section 501(c)(3) organizations. Did the organization engage in lobbying activities? If “Yes,” complete Schedule C,
Part II
.........................
4
 
 
5
Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Revenue Procedure 98-19? If “Yes,” complete Schedule C, Part III........................
5
 
No
6
Did the organization maintain any donor advised funds or any similar funds or accounts where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts? If “Yes,” complete
Schedule D, Part I
Click to see attachment
.......................
6
 
No
7
Did the organization receive or hold a conservation easement, including easements to preserve open space,
the environment, historic land areas or historic structures? If “Yes,” complete Schedule D, Part IIClick to see attachment
...
7
 
No
8
Did the organization maintain collections of works of art, historical treasures, or other similar assets? If “Yes,” complete Schedule D, Part III Click to see attachment....................
8
 
No
9
Did the organization report an amount in Part X, line 21; serve as a custodian for amounts not listed in Part X; or provide credit counseling, debt management, credit repair, or debt negotiation services? If “Yes,”
complete Schedule D, Part IV
Click to see attachment
...................
9
 
No
10
Did the organization, directly or through a related organization, hold assets in term, permanent,or quasi-endowments? If “Yes,” complete Schedule D, Part VClick to see attachment
10
 
No
11
If the organization’s answer to any of the following questions is ‘Yes,’ then complete Schedule D, Parts VI, VII, VIII, IX, or X as applicable:
a
Did the organization report an amount for land, buildings, and equipment in Part X, line10? If “Yes,” complete Schedule D, Part VI.Click to see attachment
11a
Yes
 
b
Did the organization report an amount for investments—other securities in Part X, line 12 that is 5% or more of its total assets reported in Part X, line 16? If “Yes,” complete Schedule D, Part VII.Click to see attachment
11b
 
No
c
Did the organization report an amount for investments—program related in Part X, line 13 that is 5% or more of its total assets reported in Part X, line 16? If “Yes,” complete Schedule D, Part VIII.Click to see attachment
11c
 
No
d
Did the organization report an amount for other assets in Part X, line 15 that is 5% or more of its total assets reported in Part X, line 16? If “Yes,” complete Schedule D, Part IX.Click to see attachment
11d
 
No
e
Did the organization report an amount for other liabilities in Part X, line 25? If “Yes,” complete Schedule D, Part X.Click to see attachment
11e
Yes
 
f
Did the organization’s separate or consolidated financial statements for the tax year include a footnote that addresses the organization’s liability for uncertain tax positions under FIN 48 (ASC 740)? If “Yes,” complete Schedule D, Part X.Click to see attachment
11f
 
No
12a
Did the organization obtain separate, independent audited financial statements for the tax year? If “Yes,” complete Schedule D, Parts XI, XII, and XIII Click to see attachment
12a
Yes
 
b
Was the organization included in consolidated, independent audited financial statements for the tax year? If “Yes,” and if the organization answered ‘No’ to line 12a, then completing Schedule D, Parts XI, XII, and XIII is optional Click to see attachment
12b
 
No
13
Is the organization a school described in section 170(b)(1)(A)(ii)? If “Yes,” complete Schedule E
13
 
No
14a
Did the organization maintain an office, employees, or agents outside of the United States?....
14a
 
No
b
Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, and program service activities outside the United States? If “Yes,” complete Schedule F, Part I.........
14b
 
No
15
Did the organization report on Part IX, column (A), line 3, more than $5,000 of grants or assistance to any organization or entity located outside the U.S.? If “Yes,” complete Schedule F, Part II..
15
 
No
16
Did the organization report on Part IX, column (A), line 3, more than $5,000 of aggregate grants or assistance to individuals located outside the U.S.? If “Yes,” complete Schedule F, Part III..
16
 
No
17
Did the organization report a total of more than $15,000, of expenses for professional fundraising services on Part IX, column (A), lines 6 and 11e? If “Yes,” complete Schedule G, Part I
17
 
No
18
Did the organization report more than $15,000 total of fundraising event gross income and contributions on Part VIII, lines 1c and 8a? If “Yes,” complete Schedule G, Part II..........
18
 
No
19
Did the organization report more than $15,000 of gross income from gaming activities on Part VIII, line 9a? If “Yes,” complete Schedule G, Part III...................
19
 
No
Form 990 (2010)
Form 990 (2010)
Page 4
Part IV
Checklist of Required Schedules (continued)
20a
Did the organization operate one or more hospitals? If “Yes,” complete Schedule H.....
20a
 
No
b
Did the organization attach its audited financial statement to this return? Note: All Form 990 filers that operate one or more hospitals must attach audited financial statements. .....
20b
 
 
21
Did the organization report more than $5,000 of grants and other assistance to governments and organizations in the United States on Part IX, column (A), line 1? If “Yes,” complete Schedule I, Parts I and II.. Click to see attachment
21
Yes
 
22
Did the organization report more than $5,000 of grants and other assistance to individuals in the United States on Part IX, column (A), line 2? If “Yes,” complete Schedule I, Parts I and III..... Click to see attachment
22
 
No
23
Did the organization answer “Yes” to Part VII, Section A, questions 3, 4, or 5, about compensation of the organization’s current and former officers, directors, trustees, key employees, and highest compensated employees? If “Yes,” complete Schedule J................ Click to see attachment
23
Yes
 
24a
Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002? If “Yes,” answer questions 24b–24d and complete Schedule K. If “No,” go to line 25................
24a
 
No
b
Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?...
24b
 
 
c
Did the organization maintain an escrow account other than a refunding escrow at any time during the year
to defease any tax-exempt bonds?
......................
24c
 
 
d
Did the organization act as an “on behalf of” issuer for bonds outstanding at any time during the year?...
24d
 
 
25a
Section 501(c)(3) and 501(c)(4) organizations. Did the organization engage in an excess benefit transaction with a disqualified person during the year? If “Yes,” complete Schedule L, Part I...... Click to see attachment
25a
 
No
b
Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization’s prior Forms 990 or 990-EZ? If “Yes,” complete Schedule L, Part I................ Click to see attachment
25b
 
No
26
Was a loan to or by a current or former officer, director, trustee, key employee, highly compensated employee, or disqualified person outstanding as of the end of the organization’s tax year? If “Yes,” complete Schedule L,
Part II
........................... Click to see attachment
26
 
No
27
Did the organization provide a grant or other assistance to an officer, director, trustee, key employee, substantial contributor, or a grant selection committee member, or to a person related to such an individual? If “Yes,” complete Schedule L, Part III............... Click to see attachment
27
 
No
28
Was the organization a party to a business transaction with one of the following parties? (see Schedule L, Part IV instructions for applicable filing thresholds, conditions, and exceptions):
a
A current or former officer, director, trustee, or key employee? If “Yes,” complete Schedule L, Part IV ......................... Click to see attachment
28a
 
No
b
A family member of a current or former officer, director, trustee, or key employee? If “Yes,”
complete Schedule L, Part IV
................... Click to see attachment
28b
Yes
 
c
An entity of which a current or former officer, director, trustee, or key employee (or a family member thereof) was an officer, director, trustee, or owner? If “Yes,” complete Schedule L, Part IV.. Click to see attachment
28c
Yes
 
29
Did the organization receive more than $25,000 in non-cash contributions? If “Yes,” complete Schedule M
29
 
No
30
Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions? If “Yes,” complete Schedule M............
30
 
No
31
Did the organization liquidate, terminate, or dissolve and cease operations? If “Yes,” complete Schedule N,
Part I
...........................
31
 
No
32
Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets? If “Yes,” complete Schedule N, Part II.......................
32
 
No
33
Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3? If “Yes,” complete Schedule R, Part I........
33
 
No
34
Was the organization related to any tax-exempt or taxable entity? If “Yes,” complete Schedule R, Parts II, III, IV, and V, line 1.....................
34
 
No
35
Is any related organization a controlled entity within the meaning of section 512(b)(13)? .....
35
 
No
a
Did the organization receive any payment from or engage in any transaction with a controlled entity within the meaning of section 512(b)(13)? If “Yes,” complete Schedule R, Part V, line 2...
36
Section 501(c)(3) organizations. Did the organization make any transfers to an exempt non-charitable related organization? If “Yes,” complete Schedule R, Part V, line 2...........
36
 
 
37
Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes? If “Yes,” complete Schedule R, Part VI
37
 
No
38
Did the organization complete Schedule O and provide explanations in Schedule O for Part VI, lines 11 and 19? Note. All Form 990 filers are required to complete Schedule O. ............
38
Yes
 
Form 990 (2010)
Form 990 (2010)
Page 5
Part V
Statements Regarding Other IRS Filings and Tax Compliance
Check if Schedule O contains a response to any question in this Part V . . . . . . . . . .
Yes
No
1a
Enter the number reported in Box 3 of Form 1096. Enter -0- if not applicable. .......
1a
24,121
b
Enter the number of Forms W-2G included in line 1a. Enter -0- if not applicable.
1b
22,612
c
Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners? ..................
1c
Yes
 
2a
Enter the number of employees reported on Form W-3, Transmittal of Wage and Tax Statements filed for the calendar year ending with or within the year covered by this return .....................
2a
1,556
b
If at least one is reported on line 2a, did the organization file all required federal employment tax returns?

Note. If the sum of lines 1a and 2a is greater than 250, you may be required to e-file. (see instructions)
2b
Yes
 
3a
Did the organization have unrelated business gross income of $1,000 or more during the year?.............................
3a
Yes
 
b
If “Yes,” has it filed a Form 990-T for this year? If “No,” provide an explanation in Schedule O.....
3b
Yes
 
4a
At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account or securities account)?.......................
4a
 
No
b
If "Yes," enter the name of the foreign country: MediumBullet
See instructions for filing requirements for Form TD F 90-22.1, Report of Foreign Bank and Financial Accounts.
5a
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year?..
5a
 
No
b
Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?
5b
 
No
c
If “Yes” to line 5a or 5b, did the organization file Form 8886-T? ........
5c
 
 
6a
Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible?..........
6a
 
No
b
If “Yes,” did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible?........................
6b
 
 
7
Organizations that may receive deductible contributions under section 170(c).
a
Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor?....................
7a
 
 
b
If “Yes,” did the organization notify the donor of the value of the goods or services provided?.....
7b
 
 
c
Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282?...........................
7c
 
 
d
If “Yes,” indicate the number of Forms 8282 filed during the year ....
7d
 
e
Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?..........................
7e
 
 
f
Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract?..
7f
 
 
g
If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required?...................
7g
 
 
h
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C?...............
7h
 
 
8
Sponsoring organizations maintaining donor advised funds and section 509(a)(3) supporting organizations. Did the supporting organization, or a donor advised fund maintained by a sponsoring organization, have excess business holdings at any time during the year?................
8
 
 
9
Sponsoring organizations maintaining donor advised funds.
a
Did the organization make any taxable distributions under section 4966?.........
9a
 
 
b
Did the organization make a distribution to a donor, donor advisor, or related person?......
9b
 
 
10
Section 501(c)(7) organizations. Enter:
a
Initiation fees and capital contributions included on Part VIII, line 12 ...
10a
 
b
Gross receipts, included on Form 990, Part VIII, line 12, for public use of club facilities
10b
 
11
Section 501(c)(12) organizations. Enter:
a
Gross income from members or shareholders .........
11a
 
b
Gross income from other sources (Do not net amounts due or paid to other sources against amounts due or received from them.) ........
11b
 
12a
Section 4947(a)(1) non-exempt charitable trusts. Is the organization filing Form 990 in lieu of Form 1041?
12a
 
 
b
If “Yes,” enter the amount of tax-exempt interest received or accrued during the year.
12b
 
13
Section 501(c)(29) qualified nonprofit health insurance issuers.
a
Is the organization licensed to issue qualified health plans in more than one state?
Note.
All 501(c)(29) organizations must list in Schedule O each state in which they are licensed to issue qualified health plans, the amount of reserves required by each state, and the amount of reserves the organization allocated to each state.
13a
 
 
b
Enter the aggregate amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans.
13b
 
c
Enter the aggregate amount of reserves on hand.
13c
 
14a
Did the organization receive any payments for indoor tanning services during the tax year?.....
14a
 
 
b
If "Yes," has it filed a Form 720 to report these payments? If “No,” provide an explanation in Schedule O..
14b
 
 
Form 990 (2010)
Form 990 (2010)
Page 6
Part VI
Governance, Management, and Disclosure For each “Yes” response to lines 2 through 7b below, and for a “No” response to lines 8a, 8b, or 10b below, describe the circumstances, processes, or changes in Schedule O. See instructions.
Check if Schedule O contains a response to any question in this Part VI . . . . . . . . . .
Section A. Governing Body and Management
Yes
No
1a
Enter the number of voting members of the governing body at the end of the tax year ..............
1a
13
b
Enter the number of voting members included in line 1a, above, who are independent .................
1b
13
2
Did any officer, director, trustee, or key employee have a family relationship or a business relationship with any other officer, director, trustee, or key employee? .................
2
Yes
 
3
Did the organization delegate control over management duties customarily performed by or under the direct supervision of officers, directors or trustees, or key employees to a management company or other person? ..
3
 
No
4
Did the organization make any significant changes to its governing documents since the prior Form 990 was filed?
4
 
No
5
Did the organization become aware during the year of a significant diversion of the organization’s assets? .
5
 
No
6
Does the organization have members or stockholders? ................
6
 
No
7a
Does the organization have members, stockholders, or other persons who may elect one or more members of the governing body? .........................
7a
Yes
 
b
Are any decisions of the governing body subject to approval by members, stockholders, or other persons? ..
7b
Yes
 
8
Did the organization contemporaneously document the meetings held or written actions undertaken during the year by the following:
a
The governing body? .........................
8a
Yes
 
b
Each committee with authority to act on behalf of the governing body? ............
8b
Yes
 
9
Is there any officer, director, trustee, or key employee listed in Part VII, Section A, who cannot be reached at the organization’s mailing address? If “Yes,” provide the names and addresses in Schedule O .....
9
 
No
Section B. Policies (This Section B requests information about policies not required by the Internal
Revenue Code.)
Yes
No
10a
Does the organization have local chapters, branches, or affiliates? ............
10a
 
No
b
If “Yes,” does the organization have written policies and procedures governing the activities of such chapters, affiliates, and branches to ensure their operations are consistent with those of the organization? ....
10b
 
 
11a
Has the organization provided a copy of this Form 990 to all members of its governing body before filing the form?
11a
Yes
 
b
Describe in Schedule O the process, if any, used by the organization to review the Form 990. .....
12a
Does the organization have a written conflict of interest policy? If “No,” go to line 13.......
12a
Yes
 
b
Are officers, directors or trustees, and key employees required to disclose annually interests that could give rise to conflicts? ...........................
12b
Yes
 
c
Does the organization regularly and consistently monitor and enforce compliance with the policy? If “Yes,” describe in Schedule O how this is done ....................
12c
Yes
 
13
Does the organization have a written whistleblower policy? ...............
13
Yes
 
14
Does the organization have a written document retention and destruction policy? .........
14
Yes
 
15
Did the process for determining compensation of the following persons include a review and approval by independent persons, comparability data, and contemporaneous substantiation of the deliberation and decision?
a
The organization’s CEO, Executive Director, or top management official ...........
15a
Yes
 
b
Other officers or key employees of the organization ................
15b
Yes
 
If "Yes" to line a or b, describe the process in Schedule O. (See instructions.)
16a
Did the organization invest in, contribute assets to, or participate in a joint venture or similar arrangement with a taxable entity during the year? ......................
16a
 
No
b
If “Yes,” has the organization adopted a written policy or procedure requiring the organization to evaluate its participation in joint venture arrangements under applicable federal tax law, and taken steps to safeguard the organization’s exempt status with respect to such arrangements? ............
16b
 
 
Section C. Disclosure
17
List the States with which a copy of this Form 990 is required to be filedMediumBullet
18
Section 6104 requires an organization to make its Form 1023 (or 1024 if applicable), 990, and 990-T (501(c)(3)s only) available for public inspection. Indicate how you make these available. Check all that apply.
19
Describe in Schedule O whether (and if so, how), the organization makes its governing documents, conflict of interest policy, and financial statements available to the public.
20
State the name, physical address, and telephone number of the person who possesses the books and records of the organization: MediumBullet
BRIAN WESSELS
PO BOX 1000
ALTOONA,IA50009
(515) 967-1000
Form 990 (2010)
Form 990 (2010)
Page 7
Part VII
Compensation of Officers, Directors,Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
Check if Schedule O contains a response to any question in this Part VII . . . . . . . . . .
Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees
1a Complete this table for all persons required to be listed. Report compensation for the calendar year ending with or within the organization’s tax year.
RoundBullet List all of the organization’s current officers, directors, trustees (whether individuals or organizations), regardless of amount
of compensation, and current key employees. Enter -0- in columns (D), (E), and (F) if no compensation was paid.

RoundBullet List all of the organization’s current key employees, if any. See instructions for definition of "key employee."
RoundBullet List the organization’s five current highest compensated employees (other than an officer, director, trustee or key employee)
who received reportable compensation (Box 5 of Form W-2 and/or Box 7 of Form 1099-MISC) of more than $100,000 from the
organization and any related organizations.

RoundBullet List all of the organization’s former officers, key employees, or highest compensated employees who received more than $100,000
of reportable compensation from the organization and any related organizations.

RoundBullet List all of the organization’s former directors or trustees that received, in the capacity as a former director or trustee of the
organization, more than $10,000 of reportable compensation from the organization and any related organizations.

List persons in the following order: individual trustees or directors; institutional trustees; officers; key employees; highest
compensated employees; and former such persons.
Check this box if neither the organization nor any related organizations compensated any current or former officer, director, or trustee.
(A)
Name and Title
(B)
Average hours per week (describe hours for related organizations in Schedule O)
(C)
Position (check all that apply)
(D)
Reportable compensation from the organization (W- 2/1099-MISC)
(E)
Reportable compensation from related organizations (W- 2/1099-MISC)
(F)
Estimated amount of other compensation from the organization and related organizations
Individual Trustee or Director; Institutional Trustee; Officer; Key Employee; Highest compensated employee; Former;
(1) JACK BISHOP
PAST CHAIRMAN
4.0 X           0 0 0
(2) MICHAEL GALLOWAY
CHAIRMAN
4.0 X           225 0 0
(3) GERARD NEUGENT
SECRETARY
4.0 X           225 0 0
(4) SUNNIE RICHER
DIRECTOR
4.0 X           0 0 0
(5) JODI URICH
DIRECTOR
4.0 X           0 0 0
(6) TOM WHITNEY
DIRECTOR
4.0 X           375 0 0
(7) BOB BEATTIE
DIRECTOR
4.0 X           375 0 0
(8) RON MORDEN
VICE-CHAIR
4.0 X           675 0 0
(9) LYNETTE RASMUSSEN
DIRECTOR
4.0 X           150 0 0
(10) BUTCH BAIN
DIRECTOR
4.0 X           0 0 0
(11) DON BROWN
DIRECTOR
4.0 X           0 0 0
(12) ANDREA MCGUIRE
DIRECTOR
4.0 X           0 0 0
(13) BILL EISENLAUER
DIRECTOR
4.0 X           0 0 0
(14) DIANE EWING
DIRECTOR
4.0 X           0 0 0
(15) MIKE HEDBERG
DIRECTOR
4.0 X           0 0 0
(16) R MICHAEL KNAPP
DIRECTOR
4.0 X           0 0 0
(17) ROBERT MYERS
DIRECTOR
4.0 X           0 0 0
Form 990 (2010)
Form 990 (2010)
Page 8
Part VII
Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees (continued)
(A)
Name and Title
(B)
Average hours per week (describe hours for related organizations in Schedule O)
(C)
Position (check all that apply)
(D)
Reportable compensation from the organization (W- 2/1099-MISC)
(E)
Reportable compensation from related organizations (W- 2/1099-MISC)
(F)
Estimated amount of other compensation from the organization and related organizations
Individual Trustee or Director; Institutional Trustee; Officer; Key Employee; Highest compensated employee; Former;
(18) JACK PETERS
DIRECTOR
4.0 X           600 0 0
(19) DAN RILEY
DIRECTOR
4.0 X           0 0 0
(20) JOHN ROWEN
DIRECTOR
4.0 X           0 0 0
(21) GARY PALMER
Pres/GM/CEO
55.0     X X     393,228 0 27,105
(22) ANN ATKIN
VP OPERATIONS
55.0     X X     229,544 0 20,506
(23) BRIAN WESSELS
VP FINANCE/CFO
55.0     X X     217,677 0 32,039
(24) JEFFREY NELSON
MARKETING DIRECTOR
55.0         X   158,285 0 27,502
(25) DERRON HELDT
RACING DIRECTOR
55.0         X   155,012 0 28,187
(26) DANNY BYERS
HR DIRECTOR
55.0         X   156,737 0 8,172
(27) ELAINE CASTELLINE
Director of Accounting
55.0         X   151,403 0 26,896
(28) CLINTON PURSLEY
DIRECTOR OF SECURITY
55.0         X   149,662 0 19,929




1b Sub-Total................MediumBullet
c Total from continuation sheets to Part VII, Section A....MediumBullet
d Total (add lines 1b and 1c)............MediumBullet 1,614,173 0 190,336
2
Total number of individuals (including but not limited to those listed above) who received more than $100,000 in reportable compensation from the organizationMediumBullet8
Yes
No
3
Did the organization list any former officer, director or trustee, key employee, or highest compensated employee on line 1a? If “Yes,” complete Schedule J for such individual .............
3
 
No
4
For any individual listed on line 1a, is the sum of reportable compensation and other compensation from the organization and related organizations greater than $150,000? If “Yes,” complete Schedule J for such individual...........................
4
Yes
 
5
Did any person listed on line 1a receive or accrue compensation from any unrelated organization or individual for services rendered to the organization? If “Yes,” complete Schedule J for such person .....
5
 
No
Section B. Independent Contractors
1
Complete this table for your five highest compensated independent contractors that received more than $100,000 of compensation from the organization.
(A)
Name and business address
(B)
Description of services
(C)
Compensation
GLOBAL PAYMENTS
 
 
CHECK PROCESSING 540,153
BELIN LAMSON MCCORMICK ZUMBACH
 
 
ATTORNEY 399,711
SCIENTIFIC GAMES SIMULCASTING
 
 
ACCOUNTING SERVICE 330,155
THE DES MOINES REGISTER
 
 
ADVERTISING 295,767
Roberts Communication Network LLC
 
 
transmission service 229,736
2
Total number of independent contractors (including but not limited to those listed above) who received more than $100,000 in compensation from the organization MediumBullet20
Form 990 (2010)
Form 990 (2010)
Page 9
Part VIII
Statement of Revenue
(A)
Total revenue
(B)
Related or
exempt
function
revenue
(C)
Unrelated
business
revenue
(D)
Revenue
excluded from
tax under sections
512, 513, or 514
Contributions, gifts, grants and other similar amounts 1a Federated campaigns..1a  
b Membership dues....1b  
c Fundraising events....1c  
d Related organizations...1d  
e Government grants (contributions)1e  
f All other contributions, gifts, grants, and
similar amounts not included above
1f
 
g Noncash contributions included in lines 1a-1f:$  
h Total. Add lines 1a-1f.......MediumBullet 0
 Program Service Revenue Business Code
2a PARI-MUTUEL REV.   61,026,469 61,026,469    
b CASINO REVENUE   2,100,406,761 2,100,406,761    
c FOOD & BEVERAGE 722,320 12,287,083 10,670,273 1,616,810  
d GIFT SHOP   326,688 326,688    
e EQUIBASE PUB INC   14,390 14,390    
f All other program service revenue . 2,485,714 2,417,156 68,558  
g Total. Add lines 2a–2f........MediumBullet 2,176,547,105
 Other Revenue 3 Investment income (including dividends, interest
and other similar amounts).....MediumBullet 348,778     348,778
4 Income from investment of tax-exempt bond proceeds..MediumBullet 0      
5 Royalties............MediumBullet 0      
(i) Real (ii) Personal
6a Gross Rents    
b Less: rental expenses    
c Rental income or (loss)    
d Net rental income or (loss).......MediumBullet        
(i) Securities (ii) Other
7a Gross amount from sales of assets other than inventory   34,322
b Less: cost or other basis and sales expenses   8,106
c Gain or (loss)   26,216
d Net gain or (loss)..........MediumBullet 26,216     26,216
8a Gross income from fundraising events (not including
$  
of contributions reported on line 1c). See Part IV, line 18 ...
a  
b Less: direct expenses ...b  
c Net income or (loss) from fundraising events..MediumBullet 0    
9a Gross income from gaming activities.
See Part IV, line 19 ...
a  
b Less: direct expenses ...b  
c Net income or (loss) from gaming activities...MediumBullet 0      
10a Gross sales of inventory, less
returns and allowances .
a  
b Less: cost of goods sold ..b  
c Net income or (loss) from sales of inventory..MediumBullet 0      
Miscellaneous Revenue Business Code
11a            
b            
c            
d All other revenue ....        
e Total. Add lines 11a–11d ......MediumBullet 0
12 Total revenue. See Instructions....MediumBullet 2,176,922,099 2,174,861,737 1,685,368 374,994
Form 990 (2010)
Form 990 (2010)
Page 10
Part IX
Statement of Functional Expenses
Section 501(c)(3) and 501(c)(4) organizations must complete all columns. All other organizations must complete column (A) but are not required to complete columns (B), (C), and (D).
Do not include amounts reported on lines 6b,
7b, 8b, 9b, and 10b of Part VIII.
(A)
Total expenses
(B)
Program service expenses
(C)
Management and general expenses
(D)
Fundraising expenses
1 Grants and other assistance to governments and organizations in the U.S. See Part IV, line 21 21,953,613 21,953,613
2 Grants and other assistance to individuals in the U.S. See Part IV, line 22 0  
3 Grants and other assistance to governments, organizations, and individuals outside the U.S. See Part IV, lines 15 and 16 0  
4 Benefits paid to or for members 0  
5 Compensation of current officers, directors, trustees, and key employees .... 1,614,173   1,614,173  
6 Compensation not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B) .... 0      
7 Other salaries and wages 36,413,459 36,413,459    
8 Pension plan contributions (include section 401(k) and section 403(b) employer contributions) .... 2,636,178 2,544,288 91,890  
9 Other employee benefits ....... 7,520,449 7,377,106 143,343  
10 Payroll taxes ........... 4,612,410 4,525,038 87,372  
11 Fees for services (non-employees):        
a Management ...... 0      
b Legal ......... 169,863   169,863  
c Accounting ........... 93,410   93,410  
d Lobbying ........... 0      
e Professional fundraising. See Part IV, line 17.. 0  
f Investment management fees ...... 0      
g Other .......... 0      
12 Advertising and promotion .... 3,487,470 3,484,145 3,325  
13 Office expenses ....... 1,336,600 1,076,975 259,625  
14 Information technology ...... 765,348   765,348  
15 Royalties .. 0      
16 Occupancy ........... 15,623,662 15,600,646 23,016  
17 Travel ............ 53,831 34,028 19,803  
18 Payments of travel or entertainment expenses for any federal, state, or local public officials ...... 0      
19 Conferences, conventions, and meetings .... 2,893 1,130 1,763  
20 Interest ........... 0      
21 Payments to affiliates ....... 0      
22 Depreciation, depletion, and amortization ..... 24,424,309 24,424,309    
23 Insurance .............. 1,865,605   1,865,605  
24 Other expenses. Itemize expenses not covered above. (Expenses grouped together and labeled miscellaneous may not exceed 5% of total expenses shown on line 25 below.)
a CASINO RETURN TO PATRONS 1,912,894,914 1,912,894,914    
b PARI-MUTUEL RETURN TO PATRONS 48,929,332 48,929,332    
c STATE GAMING TAX 44,362,082 44,362,082    
d PURSE AND PURSE SUPPLEMENTS 19,249,653 19,249,653    
e SIMULCAST & SATELITE COM 8,226,549 8,226,549    
f All other expenses 29,053,183 22,113,974 6,939,209  
25 Total functional expenses. Add lines 1 through 24f 2,185,288,986 2,173,211,241 12,077,745 0
26 Joint costs. Check here MediumBullet if following
SOP 98-2 (ASC 958-720). Complete this line only if the organization reported in column (B) joint costs from a combined educational campaign and fundraising solicitation
       
Form 990 (2010)
Form 990 (2010)
Page 11
Part X Balance Sheet
(A)
Beginning of year
(B)
End of year
Assets 1 Cash—non-interest-bearing .......... 3,442,180 1 3,827,087
2 Savings and temporary cash investments ....... 51,950,173 2 65,457,231
3 Pledges and grants receivable, net .........   3  
4 Accounts receivable, net ......... 461,764 4 460,282
5 Receivables from current and former officers, directors, trustees, key employees, and highest compensated employees. Complete Part II of
Schedule L ..........   5  
6 Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B). Complete Part II of
Schedule L ..........   6  
7 Notes and loans receivable, net .............   7  
8 Inventories for sale or use .............. 243,185 8 247,697
9 Prepaid expenses and deferred charges ............ 7,146,540 9 4,498,377
10a Land, buildings, and equipment: cost or other basis. Complete Part VI of Schedule D 10a 57,339,313
b Less: accumulated depreciation. ..... 10b 42,985,477 28,302,763 10c 14,353,836
11 Investments—publicly traded securities ..........   11  
12 Investments—other securities. See Part IV, line 11 ......   12  
13 Investments—program-related. See Part IV, line 11 ..   13  
14 Intangible assets .........   14  
15 Other assets. See Part IV, line 11 ........... 74,375 15 65,000
16 Total assets. Add lines 1 through 15 (must equal line 34)... 91,620,980 16 88,909,510
Liabilities 17 Accounts payable and accrued expenses . 13,482,907 17 19,195,428
18 Grants payable ..........   18  
19 Deferred revenue ..........   19  
20 Tax-exempt bond liabilities ..........   20  
21 Escrow or custodial account liability. Complete Part IV of Schedule D..   21  
22 Payables to current and former officers, directors, trustees, key
employees, highest compensated employees, and disqualified
persons. Complete Part II of Schedule L..........   22  
23 Secured mortgages and notes payable to unrelated third parties ..   23  
24 Unsecured notes and loans payable to unrelated third parties ....   24  
25 Other liabilities. Complete Part X of Schedule D..... 12,050,262 25 12,009,731
26 Total liabilities. Add lines 17 through 25..... 25,533,169 26 31,205,159
Net Assets or Fund Balance Organizations that follow SFAS 117, check here MediumBullet and complete lines 27 through 29, and lines 33 and 34.
27 Unrestricted net assets ..... 66,087,811 27 57,704,351
28 Temporarily restricted net assets .....   28  
29 Permanently restricted net assets .....   29  
Organizations that do not follow SFAS 117, check here MediumBullet and complete lines 30 through 34.
30 Capital stock or trust principal, or current funds .....   30  
31 Paid-in or capital surplus, or land, building or equipment fund .....   31  
32 Retained earnings, endowment, accumulated income, or other funds   32  
33 Total net assets or fund balances ..... 66,087,811 33 57,704,351
34 Total liabilities and net assets/fund balances ..... 91,620,980 34 88,909,510
Form 990 (2010)
Form 990 (2010)
Page 12
Part XI
Reconcilliation of Net Assets
Check if Schedule O contains a response to any question in this Part XI . . . . . . . . . .
1
Total revenue (must equal Part VIII, column (A), line 12) . . .
1
2,176,922,099
2
Total expenses (must equal Part IX, column (A), line 25) . . . . .
2
2,185,288,986
3
Revenue less expenses. Subtract line 2 from line 1 . . . .
3
-8,366,887
4
Net assets or fund balances at beginning of year (must equal Part X, line 33, column (A)) . .
4
66,087,811
5
Other changes in net assets or fund balances (explain in Schedule O) . . . .
5
-16,573
6
Net assets or fund balances at end of year. Combine lines 3, 4, and 5 (must equal Part X, line 33, column (B)) . . . . . .
6
57,704,351
Part XII
Financial Statements and Reporting
Check if Schedule O contains a response to any question in this Part XII . . . . . . . . . .
Yes
No
1
Accounting method used to prepare the Form 990:  
If the organization changed its method of accounting from a prior year or checked "Other," explain in
Schedule O.
2a
Were the organization’s financial statements compiled or reviewed by an independent accountant?..
2a
 
No
b
Were the organization’s financial statements audited by an independent accountant?........
2b
Yes
 
c
If “Yes,” to 2a or 2b, does the organization have a committee that assumes responsibility for oversight of the audit, review, or compilation of its financial statements and selection of an independent accountant?
If the organization changed either its oversight process or selection process during the tax year, explain in Schedule O.
...........................
2c
Yes
 
d
If “Yes” to line 2a or 2b, check a box below to indicate whether the financial statements for the year were issued on a separate basis, consolidated basis, or both:
3a
As a result of a federal award, was the organization required to undergo an audit or audits as set forth in the Single Audit Act and OMB Circular A-133? ................
3a
 
No
b
If “Yes,” did the organization undergo the required audit or audits? If the organization did not undergo the required audit or audits, explain why in Schedule O and describe any steps taken to undergo such audits. ..
3b
 
 
Form 990 (2010)
Additional Data


Software ID:  
Software Version:  
Form 990, Special Condition Description:
Special Condition Description
SCHEDULE D
(Form 990)
Department of the Treasury
Internal Revenue Service
Supplemental Financial Statements
SchDMd Bullet Complete if the organization answered "Yes," to Form 990,
Part IV, line 6, 7, 8, 9, 10, 11, or 12.
SchDMd Bullet Attach to Form 990. SchDMd Bullet See separate instructions.
OMB No. 1545-0047
2010
Open to Public Inspection
Name of the organization
Prairie Meadows Race Track and Casino Inc
 
Employer identification number

42-1244913
Part I
Organizations Maintaining Donor Advised Funds or Other Similar Funds or Accounts. Complete if the organization answered "Yes" to Form 990, Part IV, line 6.
(a) Donor advised funds (b) Funds and other accounts
1 Total number at end of year .......    
2 Aggregate contributions to (during year) ...    
3 Aggregate grants from (during year) ...    
4 Aggregate value at end of year .......    
5
Did the organization inform all donors and donor advisors in writing that the assets held in donor advised
funds are the organization's property, subject to the organization's exclusive legal control? ............
6
Did the organization inform all grantees, donors, and donor advisors in writing that grant funds may be
used only for charitable purposes and not for the benefit of the donor or donor advisor, or for any other purpose conferring impermissible private benefit. ...................................
Part II
Conservation Easements. Complete if the organization answered "Yes" to Form 990, Part IV, line 7.
1
Purpose(s) of conservation easements held by the organization (check all that apply).
2
Complete lines 2a–2d if the organization held a qualified conservation contribution in the form of a conservation easement on the last day of the tax year.
Held at the End of the Year
a Total number of conservation easements ....................... 2a  
b Total acreage restricted by conservation easements .................. 2b  
c Number of conservation easements on a certified historic structure included in (a) ..... 2c  
d Number of conservation easements included in (c) acquired after 8/17/06 ........ 2d  
3
Number of conservation easements modified, transferred, released, extinguished, or terminated by the organization during
the taxable year SchDMd Bullet  
4
Number of states where property subject to conservation easement is located SchDMd Bullet  
5
Does the organization have a written policy regarding the periodic monitoring, inspection, handling of violations, and
enforcement of the conservation easements it holds? .............................
6
Staff and volunteer hours devoted to monitoring, inspecting and enforcing conservation easements during the year SchDMd Bullet  
7
Amount of expenses incurred in monitoring, inspecting, and enforcing conservation easements during the year SchDMd Bullet $  
8
Does each conservation easement reported on line 2(d) above satisfy the requirements of section
170(h)(4)(B)(i) and 170(h)(4)(B)(ii)? ....................................
9
In Part XIV, describe how the organization reports conservation easements in its revenue and expense statement, and
balance sheet, and include, if applicable, the text of the footnote to the organization’s financial statements that describes
the organization’s accounting for conservation easements.
Part III
Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets.
Complete if the organization answered "Yes" to Form 990, Part IV, line 8.
1a
If the organization elected, as permitted under SFAS 116, not to report in its revenue statement and balance sheet works of
art, historical treasures, or other similar assets held for public exhibition, education or research in furtherance of public service,
provide, in Part XIV, the text of the footnote to its financial statements that describes these items.
b
If the organization elected, as permitted under SFAS 116, to report in its revenue statement and balance sheet works of art,
historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service,
provide the following amounts relating to these items:
(i)
Revenues included in Form 990, Part VIII, line 1 ........................SchDMd Bullet $  
(ii)
Assets included in Form 990, Part X ..............................SchDMd Bullet $  
2
If the organization received or held works of art, historical treasures, or other similar assets for financial gain, provide the
following amounts required to be reported under SFAS 116 relating to these items:
a
Revenues included in Form 990, Part VIII, line 1 ..........................SchDMd Bullet $  
b
Assets included in Form 990, Part X ...............................SchDMd Bullet $  
For Privacy Act and Paperwork Reduction Act Notice, see the Intructions for Form 990
Cat. No. 52283D
Schedule D (Form 990) 2010

Schedule D (Form 990) 2010
Page 2
Part III
Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets (continued)
3
Using the organization’s accession and other records, check any of the following that are a significant use of its collection
items (check all that apply):
a
d
b
e
 
c
4
Provide a description of the organization’s collections and explain how they further the organization’s exempt purpose in
Part XIV.
5
During the year, did the organization solicit or receive donations of art, historical treasures or other similar
assets to be sold to raise funds rather than to be maintained as part of the organization’s collection?........
Part IV
Escrow and Custodial Arrangements. Complete if the organization answered "Yes" to Form 990,
Part IV, line 9, or reported an amount on Form 990, Part X, line 21.
1a
Is the organization an agent, trustee, custodian or other intermediary for contributions or other assets not
included on Form 990, Part X? ....................................
b
If "Yes," explain the arrangement in Part XIV and complete the following table:
Amount
c Beginning balance ................................. 1c  
d Additions during the year .............................. 1d  
e Distributions during the year ............................. 1e  
f Ending balance ................................... 1f  
2a
Did the organization include an amount on Form 990, Part X, line 21? .....................
b
If “Yes,” explain the arrangement in Part XIV.
Part V
Endowment Funds. Complete if the organization answered "Yes" to Form 990, Part IV, line 10.
(a)Current Year (b)Prior Year (c)Two Years Back (d)Three Years Back (e)Four Years Back
1a Beginning of year balance ....      
b Contributions ........      
c Investment earnings or losses ...      
d Grants or scholarships .....      
e Other expenditures for facilities
and programs ........
     
f Administrative expenses ....      
g End of year balance ......      
2
Provide the estimated percentage of the year end balance held as:
a
Board designated or quasi-endowment: SchDMd Bullet  
b
Permanent endowment: SchDMd Bullet  
c
Term endowment: SchDMd Bullet  
3a
Are there endowment funds not in the possession of the organization that are held and administered for the
organization by:

Yes
No
(i) unrelated organizations ........................
3a(i)
 
 
(ii) related organizations ........................
3a(ii)
 
 
b
If "Yes" to 3a(ii), are the related organizations listed as required on Schedule R? .........
3b
 
 
4
Describe in Part XIV the intended uses of the organization's endowment funds.
Part VI
Investments—Land, Buildings, and Equipment. See Form 990, Part X, line 10.
Description of investment (a) Cost or other basis (investment) (b)Cost or other basis (other) (c) Accumulated depreciation (d) Book value
1a Land .................      
b Buildings ................        
c Leasehold improvements ............ 3,783,195     3,783,195
d Equipment ................ 46,409,023   36,381,900 10,027,123
e Other ................. 7,147,096   6,603,577 543,519
Total. Add lines 1a-1e. (Column (d) should equal Form 990, Part X, column (B), line 10(c).)........SchDMdBullet 14,353,837
Schedule D (Form 990) 2010

Schedule D (Form 990) 2010
Page 3
Part VII
Investments—Other Securities. See Form 990, Part X, line 12.
(a) Description of security or category
(including name of security)
(b)Book value (c) Method of valuation:
Cost or end-of-year market value
(1)Financial derivatives    
(2)Closely-held equity interests    
Other








Total. (Column (b) should equal Form 990, Part X, col.(B) line 12.)Small Bullet  
Part VIII
Investments—Program Related. See Form 990, Part X, line 13.
(a) Description of investment type (b) Book value (c) Method of valuation:
Cost or end-of-year market value








Total. (Column (b) should equal Form 990, Part X, col.(B) line 13.)Small Bullet  
Part IX
Other Assets. See Form 990, Part X, line 15.
(a) Description (b) Book value








Total. (Column (b) should equal Form 990, Part X, col.(B) line 15.)...........Small Bullet  
Part X
Other Liabilities. See Form 990, Part X, line 25.
1.(a) Description of Liability (b) Amount
Federal Income Taxes 0
POLK COUNTY PAYABLE 7,942,009
CITY OF DES MOINES PAYABLE 4,008,420
CURRENT NOTES PAYABLE 59,302






Total. (Column (b) should equal Form 990, Part X, col.(B) line 25.)Small Bullet 12,009,731
2. Fin 48 (ASC 740) Footnote. In Part XIV, provide the text of the footnote to the organization's financial statements that reports the organization's liability for uncertain tax positions under FIN 48 (ASC740).
Schedule D (Form 990) 2010

Schedule D (Form 990) 2010
Page 4
Part XI Reconciliation of Change in Net Assets from Form 990 to Financial Statements
1 Total revenue (Form 990, Part VIII, column (A), line 12) .................... 1 2,176,922,099
2 Total expenses (Form 990, Part IX, column (A), line 25) ..................... 2 2,185,288,986
3 Excess or (deficit) for the year. Subtract line 2 from line 1 ............. 3 -8,366,887
4 Net unrealized gains (losses) on investments .......................... 4  
5 Donated services and use of facilities ............................. 5  
6 Investment expenses ................................... 6  
7 Prior period adjustments .................................. 7  
8 Other (Describe in Part XIV) ................................. 8 -16,573
9 Total adjustments (net). Add lines 4 - 8 ............................. 9 -16,573
10 Excess or (deficit) for the year per financial statements. Combine lines 3 and 9 ......... 10 -8,383,460
Part XII Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
1 Total revenue, gains, and other support per audited financial statements ....... 1 190,063,160
2 Amounts included on line 1 but not on Form 990, Part VIII, line 12:
a Net unrealized gains on investments .......... 2a  
b Donated services and use of facilities ......... 2b  
c Recoveries of prior year grants ........... 2c  
d Other (Describe in Part XIV): ............ 2d  
e Add lines 2a through 2d ..................... 2e  
3 Subtract line 2e from line 1..................... 3 190,063,160
4 Amounts included on Form 990, Part VIII, line 12, but not on line 1:
a Investment expenses not included on Form 990, Part VIII, line 7b . 4a  
b Other (Describe in Part XIV): ........... 4b 1,986,858,939
c Add lines 4a and 4b....................... 4c 1,986,858,939
5 Total Revenue. Add lines 3 and 4c. (This should equal Form 990, Part I, line 12.) ...... 5 2,176,922,099
Part XIII Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
1 Total expenses and losses per audited financial statements ............. 1 198,446,620
2 Amounts included on line 1 but not on Form 990, Part IX, line 25:
a Donated services and use of facilities .......... 2a  
b Prior year adjustments .............. 2b  
c Other losses ................ 2c  
d Other (Describe in Part XIV): ............ 2d  
e Add lines 2a through 2d...................... 2e  
3 Subtract line 2e from line 1..................... 3 198,446,620
4 Amounts included on Form 990, Part IX, line 25, but not on line 1:
a Investment expenses not included on Form 990, Part VIII, line 7b .. 4a  
b Other (Describe in Part XIV): ............ 4b 1,986,842,366
c Add lines 4a and 4b....................... 4c 1,986,842,366
5 Total expenses. Add lines 3 and 4c. (This should equal Form 990, Part I, line 18.) ...... 5 2,185,288,986
Part XIV
Supplemental Information
Complete this part to provide the descriptions required for Part II, lines 3, 5, and 9; Part III, lines 1a and 4; Part lV, lines 1b and 2b;
Part V, line 4; Part X; Part XI, line 8; Part XII, lines 2d and 4b; and Part XIII, lines 2d and 4b. Also complete this part to provide any additional information.
Identifier Return Reference Explanation
Schedule D Part XII, Line 4b Adj. Casino Rev to Gross $ 1,912,894,912 Adj. Progressive Expense $ 284,751 Reclass Complimentary Items $ 11,814,732 Adj. Pari-mutuel Rev to Gross $ 57,155,880 Adj. Food & Beverage Rev to Gross $ 3,419,801 Adj. Banquet Rev to Gross $ 635,523 Adj. Gift Shop Rev to Gross $ 660,834 Misc. Income - Coin Float $ (50,283) Equibase Income $ 16,573 Reclassify Loss on Sale of Fixed Assets $ 26,216 ================= TOTAL $ 1,986,858,939 =================
Schedule D Part XIII, Line 4B Adj. Casino Rev to Gross $ 1,912,894,912 Adj. Progressive Expense $ 284,751 Reclass Complimentary Items $ 11,814,732 Adj. Pari-mutuel Rev to Gross $ 57,155,880 Adj. Food & Beverage Rev to Gross $ 3,419,801 Adj. Banquet Rev to Gross $ 635,523 Adj. Gift Shop Rev to Gross $ 660,834 Misc. Income - Coin Float $ (50,283) Reclassify Loss on Sale of Fixed Assets $ 26,216 ================= TOTAL $ 1,986,842,366 =================
Schedule D Part XI, Line 8 Additional K-1 Income (Expense) $ 16,573 ============== TOTAL $ 16,573 ==============
Schedule D (Form 990) 2010

Additional Data


Software ID:  
Software Version:  




Schedule I
(Form 990)
Department of the Treasury
Internal Revenue Service
Grants and Other Assistance to Organizations,
Governments and Individuals in the United States
Complete if the organization answered "Yes," to Form 990, Part IV, line 21 or 22.
lBullet Attach to Form 990
OMB No. 1545-0047
2010
Open to Public
Inspection
Name of the organization
Prairie Meadows Race Track and Casino Inc
 
Employer identification number
42-1244913
Part I
General Information on Grants and Assistance
1
Does the organization maintain records to substantiate the amount of the grants or assistance, the grantees' eligibility for the grants or assistance, and
the selection criteria used to award the grants or assistance? ....................................
2
Describe in Part IV the organization's procedures for monitoring the use of grant funds in the United States.
Part II
Grants and Other Assistance to Governments and Organizations in the United States. Complete if the organization answered "Yes" to
Form 990, Part IV, line 21 for any recipient that received more than $5,000. Check this box if no one recipient received more than $5,000. Use
Part IV and Schedule I-1 (Form 990) if additional space is needed
......................... lBullet
(a) Name and address of organization
or government
(b) EIN (c) IRC Code section
if applicable
(d) Amount of cash grant (e) Amount of non-cash
assistance
(f) Method of valuation
(book, FMV, appraisal,
other)
(g) Description of
non-cash assistance
(h) Purpose of grant
or assistance
(1) Altoona Area Historical Society1060 14th Street SE
Altoona,IA50009
20-0118182 501(c)(3) 10,000       Renovation of Altoona Historical Building Phase III
(2) Alzheimer's Disease & Related Disorders Associatio1730 25th Street
14th Street
West Des Moines,IA50266
42-1520582 501(c)(3) 7,000       Alzheimer's Association Annual Caregiver Conference
(3) Amanda Cares Inc1000 73rd Street Suite 12
Windsor Heights,IA50324
42-1166117 501(c)(3) 10,000       Camp Amanda the Panda & Follow Up Services
(4) Amature Athletic Union2822 E 29th Street
Des Moines,IA50317
35-6057862 501(c)(3) 10,000       Local League, State AAU, Regional, & National AAU Tournaments
(5) American Institute of Business2500 Fleur Dr
Des Moines,IA503211799
42-0681067 501(c)(3) 10,000       Card Access System
(6) Amyotrophic Lateral Sclerosis Association6165 NW 86th Street Suite 205
Johnston,IA50131
30-0051272 501(c)(3) 10,000       ALS Respite Pilot Program
(7) Animal Rescue League of Iowa Inc5452 NE 22nd Street
Des Moines,IA50313
42-0680427 501(c)(3) 10,000       A Pet Friendly, People Safe Community
(8) Ankeny Comm School Di306 SW School Street
Ankeny,IA50023
42-6021919 Gov't 85,546       Community Schools Contribution
(9) Ballet Theatre of Des Moines712 East Second Street
Des Moines,IA50309
94-3417247 501(c)(3) 15,000       Ballet Des Moines' 2011 Spring Show - Alice in Wonderland
(10) Beacon of Life1717 Woodlane Avenue
Des Moines,IA50309
42-1253088 501(c)(3) 17,500       Resale Boutique and Stepping Stones Program
(11) Bergman Academy924 Polk Boulevard
Des Moines,IA50312
42-1087681 501(c)(3) 10,000       21st Century Skills for Middle Scholars
(12) Big Brothers Big Sisters of Central Iowa9051 Swanson Blvd
Clive,IA50325
42-1184999 501(c)(3) 10,000       Central Iowa Mentoring Program
(13) Blank Park Zoo Foundation7401 SW 9th Street
Des Moines,IA50315
42-1171821 501(c)(3) 10,000       Keeper Connection
(14) Bondurant-Farrar Comm300 Garfield St SW
Bondurant,IA50035
42-6037271 Gov't 12,883       Community Schools Contribution
(15) Brain Injury Association of Iowa7025 Hickman Road Suite 7
Urbandale,IA50322
42-1182407 501(c)(3) 10,000       Neuro-Resource Facilitation
(16) Broadlawns Medical Cn1801 Hickman Road
Des Moines,IA50314
42-1527407 501(c)(3) 100,000       Broadlawns Medical Center Capital Campaign - Emergency Department
(17) Camp Hertko Hollow Inc101 Locust Street
Des Moines,IA50309
76-0717999 501(c)(3) 10,000       Diabetes Camperships
(18) Carlisle Area Historical Society430 N 4th Street
Carlisle,IA50047
26-0793436 501(c)(3) 10,000       Phase One & Two Exterior Restoration Historic Randleman House
(19) Carlisle Comm School430 School Street
Carlisle,IA50047
42-0898003 Gov't 5,766       Community Schools Contribution
(20) Central Iowa Center for Independent Living655 Walnut Street Suite 131
Des Moines,IA50309
42-1365498 501(c)(3) 10,000       Prairie Meadows Racetrack and Casino Computer Independence Program for People with Disabilities
(21) Children and Families of Iowa1111 University Avenue
Des Moines,IA50314
42-0680416 501(c)(3) 15,000       Elevate Enhancement
(22) ChildServe Foundation5406 Merle Hay Road
Johnston,IA50131
42-1157665 501(c)(3) 15,000       Rehabilitative and Development Therapy Enhancement
(23) Chrysalis Foundation300 East Locust Street Suite 150
Des Moines,IA50309
42-1337635 501(c)(3) 10,000       Chrysalis After-School Quality Program Development Funding
(24) City of AltoonaPO Box 338
Altoona,IA50009
42-6004210 Gov't 750,000       Economic Development Contribution
(25) City of Clive1900 NW 114th Street
Clive,IA50325
42-6035153 Gov't 9,675       Powered Lift-Assist Ambulance Cot
(26) City of Des Moines25 East First Street
Des Moines,IA50309
42-6004514 Gov't 4,018,420       Tax Rate Sharing Contribution, Mounted Patrol Unit
(27) City of Indianola110 North First Street
Indianola,IA50125
42-6004797 Gov't 10,000       Memorial Park Amphitheater - Phase I
(28) City of Johnston6015 NW 62nd Avenue
Johnston,IA50131
42-6151614 Gov't 10,000       ATV Response Vehicle
(29) City of Monroe206 W Sherman
Monroe,IA50170
42-6004975 Gov't 10,000       Monroe Recreation Park
(30) City of Pleasant Hill5151 Maple Drive Suite 1
Pleasant Hill,IA50237
42-6035789 Gov't 25,000       Polaris All Terrain Vehicle Acquisition, Early Childhood Literacy Initiatives, DARE Program, Police Explorer Program
(31) Civic Center of Greater Des Moines221 Walnut Street
Des Moines,IA50309
51-0138181 501(c)(3) 10,000       2010-2011 Applause! Education Series
(32) Civic Music Association1620 Pleasant Street Suite 244
Des Moines,IA50314
23-7334841 501(c)(3) 10,000       A Night at Civic Music Association - Partners in Music Education
(33) Colfax-Mingo School District307 Mohawk Drive
Mingo,IA50168
42-1250547 Gov't 10,000       Middle School Technology Project, Phase II
(34) Colo Nesco Community Schools919 West Street
Colo,IA50056
42-6037714 Gov't 7,000       Preschool Playground Project
(35) Community Foundation of Greater Des Moines1915 Grand Avenue
Des Moines,IA50309
42-6139033 501(c)(3) 320,000       Papa John Sculpture Garden, Each and Every One - New Shelter Campaign, Des Moines Public Charter School (7th & 8th Grade), Monumental Journey, A Public Art Project, Substance Abuse Treatment Assistance, Expansion Project
(36) Community Tax Clinic3816 Ingersoll Avenue
Des Moines,IA50012
20-5347868 501(c)(3) 10,000       Immigrant Entrepreneurs Summit
(37) Copper Creek Triathlon5088 E University Avenue
Pleasant Hill,IA50237
26-1855591 501(c)(3) 10,000       Copper Creek Triathlon 2011
(38) Cottage Grove Avenue Presbyterian Church1050 24th Street
Des Moines,IA50311
42-0722682 501(c)(3) 10,000       CROSS Ministries
(39) Cystic Fibrosis FoundationIowa Chapter 1025 Ashworth Road Sui
West Des Moines,IA50265
13-1930701 501(c)(3) 10,000       Cystic Fibrosis Care Center at Blank Children's Health Center
(40) Dallas Center-Grimes1414 Walnut Street Suite 200 PO Box
Dallas Center,IA50063
42-6001334 Gov't 15,224       Community Schools Contribution
(41) Dallas County Hospital Foundation Inc610 10th Street
Perry,IA50220
20-5489982 501(c)(3) 5,250       Diabetic Self-Management Nutrition Training Classes
(42) Des Moines Area Community College Foundation2006 S Ankeny Blvd
Ankeny,IA50023
23-7229486 501(c)(3) 80,000       The Evelyn Davis Project - Workforce/Re-engagement Center, Student Emergency Grant Program at DMACC
(43) Des Moines Area Regional Transit Authority1100 DART Way
Des Moines,IA50309
42-1014354 Gov't 10,000       Opportunities Thru Transit (OTT)
(44) Des Moines Arts Festival700 Locust Suite 100
Des Moines,IA50309
42-1471969 501(c)(3) 40,000       Prairie Meadows Community Outreach Program at the Des Moines Arts Festival
(45) Des Moines Bicycle Collective617 Grand Avenue
Des Moines,IA50309
33-1205221 501(c)(3) 10,000       Greater Des Moines B-cycle System
(46) Des Moines Health Center1111 Ninth Street Suite 190
Des Moines,IA50314
42-0680421 501(c)(3) 10,000       Smile Squad Mobile Dental Clinic
(47) Des Moines I Have A Dream Foundation2507 University Avenue
Des Moines,IA50311
42-1338832 501(c)(3) 10,000       2018 M.L. King Elementary Project #3
(48) Des Moines Independent Community School District901 Walnut Street
Des Moines,IA50309
42-6001433 Gov't 370,180       Community Schools Contribution, Project Brother 2 Brother - Student African American Brotherhood, Writing and Math for All, Safe & Secure Learning at Moulton Extended Learning Center, Ron Sallade Children's School Clothing Program, Sisters for Success
(49) Des Moines Metro Opera Inc106 West Boston Avenue
Indianola,IA50125
23-7319903 501(c)(3) 10,000       Des Moines Metro Opera Educational Programs & 2011 Mainstage Productions
(50) Des Moines Pastoral Counseling Center2929 Westown Parkway Suite 110
West Des Moines,IA50266
42-0995074 501(c)(3) 60,000       Campaign for Hope and Healing, Counseling Assistance for the Uninsured
(51) Des Moines Public Library Foundation1000 Grand Avenue
Des Moines,IA50309
42-1484890 501(c)(3) 10,000       Summer Reading Program
(52) Des Moines Symphony Association221 Walnut Street
Des Moines,IA50309
42-6058830 501(c)(3) 10,000       Des Moines Symphony Youth Concerts
(53) Dowling High School1400 Buffalo Road
West Des Moines,IA50265
42-0788212 501(c)(3) 100,000       Master Plan - We Believe Capital Campaign
(54) Drake University3206 University Avenue
Des Moines,IA50311
42-0680460 501(c)(3) 25,000       Virtual Literacy to Succeed, Digital Media Initiative
(55) East High School (DM) Alumni FoundationPO Box 6015
Des Moines,IA50309
42-1274378 501(c)(3) 85,000       Williams Stadium Renovation - The Tom Hockensmith Walk of Champions
(56) Easter Seals Society of Iowa401 NE 66th Avenue
Des Moines,IA50313
42-0707100 501(c)(3) 10,000       Camp Sunnyside Camperships
(57) Eastern Polk Regional Development119 Second Street SE Suite B
Altoona,IA50009
39-1895603 501(c)(4) 10,000       Regional Economic Development Program
(58) Edmundson Art Foundation4700 Grand Avenue
Des Moines,IA50312
42-0680419 501(c)(3) 10,000       2011 Studio Scholarships for Des Moines Public School Children
(59) Eyerly-Ball Community Mental Health Services945 19th Street
Des Moines,IA50314
42-0942273 501(c)(3) 20,000       New Roof at Eyerly Ball Mental Health Center, Supported Community Living Program
(60) Food Bank of Iowa2220 East 17th Street
Des Moines,IA50316
42-1177880 501(c)(3) 15,000       Backpack Buddies
(61) Fort Des Moines Black Officers Memorial Inc75 E Army Post Road
Des Moines,IA50315
42-1468327 501(c)(3) 10,000       New Museum Sign on Army Post Road
(62) Friends of Iowa Civil Rights Inc1620 Pleasant Street Suite 225
Des Moines,IA50314
42-1444645 501(c)(3) 10,000       2011 I'll Make Me A World in Iowa
(63) Friends of Prairie Learning CenterPO Box 399
Prairie City,IA50228
42-1417678 501(c)(3) 10,000       Partnership Schools- Nature Education
(64) Friends of the Des Moines Botanical Center909 Robert Ray Drive
Des Moines,IA50316
42-0540765 501(c)(3) 10,000       Flower Power 5k
(65) Gateway Dance Theatre Inc315 East Fifth Street Suite 12
Des Moines,IA50309
23-7252163 501(c)(3) 6,000       Gateway Education Programs
(66) Girl Scouts of Greater Iowa Inc10715 Hickman Road
Des Moines,IA50322
42-0698218 501(c)(3) 10,000       It's YOur Story - Tell It! Reaching Out to Girls At-Risk
(67) GLBT Youth in Iowa Schools Task ForcePO Box 704
Des Moines,IA50303
73-1710056 501(c)(3) 7,500       Safe Shelters Safe Communities
(68) Grand View College1200 Grandview Avenue
Des Moines,IA50316
42-0681049 501(c)(3) 75,003       Rasmussen Center for Community Advancement Professions
(69) Greater Altoona Community Service Campus1500 8th Street SW
Altoona,IA50009
42-1445489 501(c)(3) 10,000       Youth Fitness Initiative (Youth Stationary Bikes)
(70) Greater Des Moines Music Coalition1620 Pleasant Street Suite 248
Des Moines,IA50314
20-2771022 501(c)(3) 15,000       2010 80/35 Progressive Music Festival, 2011 Iowa Music Showcase
(71) Greater Des Moines Partnership700 Locust Street Suite 100
Des Moines,IA50309
42-1489668 501(c)(6) 300,050       Choose Des Moines Community, Gift Certificate Doanation
(72) Hansen House1521 Sixth Avenue
Des Moines,IA50314
42-1193588 501(c)(3) 10,000       Permanent Housing
(73) Heartland Youth ChoirPO Box 13436
Des Moines,IA50310
20-0049799 501(c)(3) 10,000       Heartland Youth Choir Scholarship Fund
(74) Hickory Golf Association317 6th Avenue Suite 1040
Des Moines,IA50309
26-2157401 501(c)(4) 10,000       Preservation of History Project
(75) Historic Valley Junction Foundation217 Fifth Street
West Des Moines,IA50265
42-1338090 501(c)(3) 7,500       ART Stop 2011
(76) Holy Family School Inner-City Youth FoundationPO Box 8437
Des Moines,IA50301
42-1411669 501(c)(3) 11,050       Offering a Helping Hand After-School Program 2011-2012
(77) Holy Trinity Catholic Church and School2922 Beaver Avenue
Des Moines,IA50310
42-0738961 501(c)(3) 10,000       Digital Classrooms at Holy Trinity
(78) Hospice of Central Iowa2910 Westown Parkway Suite 200
West Des Moines,IA50265
42-1093718 501(c)(3) 10,000       Patient Financial Assistance
(79) Iowa 4-H Foundation10550 New York Avenue Suite 200
Des Moines,IA50322
42-6061606 501(c)(3) 10,000       Money Mammals
(80) Iowa Asian Alliance525 SW 5th Street Suite A
Des Moines,IA50309
41-2024501 501(c)(6) 10,000       CelebrAsain: The Annual Asian Heritage Festival
(81) Iowa Chapter American Academy of PediatricsPO Box 1382
Johnston,IA50131
42-1167299 501(c)(3) 10,000       Broadening Children's Futures through Reach Out & Read Iowa
(82) Iowa Coalition Against Domestic Violence515 28th Street Suite 106
Des Moines,IA50312
42-1285094 501(c)(3) 15,000       The MUNA Legal Clinic
(83) Iowa College Foundation505 5th Avenue Suite 1304
Des Moines,IA50309
42-0745995 501(c)(3) 90,000       Prairie Meadows Scholarship Awards Program
(84) Iowa Comprehensive Manpower Services1111 9th Street Suite 260
Des Moines,IA50314
42-1084531 501(c)(3) 20,000       Central Iowa Reengagement Center, Target Alliance Career Awareness Summer Camp
(85) Iowa Council for International Understanding1000 Walnut Street Suite 1105
Des Moines,IA50309
42-0944296 501(c)(3) 10,000       Interpretation & Translation Services Training & Educational Workshops
(86) Iowa Harness Racing Association3038 290th Avenue
Gilman,IA50106
26-1516990 501(c)(4) 1,000,000       Standardbred Support Contribution
(87) Iowa Health Foundation1200 Pleasant
Des Moines,IA50309
42-1467682 501(c)(3) 107,500       Child Development Center, Stoddard Live Well at the Y Program
(88) Iowa Historical Foundation600 East Locust Street
Des Moines,IA50031
42-1310625 501(c)(3) 10,000       History Through the Arts
(89) Iowa Irish IncPO Box 66038
West Des Moines,IA50265
26-3570742 501(c)(3) 10,000       2011 Two Rivers Feile - Irish Dance & Cultural Dance Arts Festival
(90) Iowa JAG IncGrimes State Office Building Third
Des Moines,IA50319
42-1492988 501(c)(3) 10,000       iJAG: Learning Beyond the Classroom
(91) Iowa Labor Management Work Preservation Fund3901 Thirteenth Street
Des Moines,IA50313
42-1299328 501(c)(5) 10,000       Wage, Hour and Benefit Verification Project
(92) Iowa Laborers District Council5806 Meredith Drive
Urbandale,IA50322
42-1103470 501(c)(5) 10,000       Iowa Laborer's Education and Training Apprenticeship Initiative with Lincoln High School
(93) Iowa Laborers-Employers Cooperation And Education5806 Meredith Drive
Urbandale,IA50322
42-1396859 501(c)(5) 10,000       Construction Monitoring
(94) Iowa Legal Aid1111 9th Street Suite 230
Des Moines,IA50314
42-1079227 501(c)(3) 75,000       Economic Emergency Project
(95) Iowa Natural Heritage Foundation505 Fifth Avenue Suite 44
Des Moines,IA50309
42-1127544 501(c)(3) 10,000       Hickory Ridge: New Nature Destination for Central Iowa
(96) Iowa Public Radio Inc211 Grand Avenue Suite 100
Des Moines,IA50312
20-4227123 501(c)(3) 10,000       General Arts Programming
(97) Iowa Reading Information Services for the Blind &100 East Euclid Avenue Suite 117
Des Moines,IA50313
42-1298155 501(c)(3) 10,000       IRIS Equipment Upgrade 2011
(98) Iowa Senior Games Inc3550 Mills Civic Parkway
West Des Moines,IA50265
42-1409259 501(c)(3) 15,000       2011 Iowa Senior Olympics
(99) Iowa Shrine Bowl GamesPO 22160
Des Moines,IA50325
42-1005519 501(c)(3) 10,000       Iowa Shrine Bowl All-Star Football Classic
(100) Iowa Society to Prevent Blindness1111 9th Street Suite 250
Des Moines,IA50314
42-6083207 501(c)(3) 10,000       Children's Vision Screening & Star Pupils
(101) Jim Ellefson Free Medical Clinic1607 East 33rd Street
Des Moines,IA50317
42-1522179 501(c)(3) 10,000       The Jim Elefson Free Medical Clinic
(102) John L Lewis CommissionPO Box 3
Lucas,IA50151
42-1280820 501(c)(3) 10,000       2010 Replacement of Air Conditioning and Heating Units
(103) Johnston Community Sc5608 Merle Hay Rd
Johnston,IA50131
42-6002176 Gov't 61,238       Community Schools Contribution
(104) Junior Achievement of Central Iowa Inc6100 Grand Avenue
Des Moines,IA50312
42-0759070 501(c)(3) 25,000       JA Middle and High School Programs in Central Iowa, JA BizTown Program in Central Iowa
(105) Keep Iowa Beautiful300 East Locust Street Suite 100
Des Moines,IA50309
42-1497912 501(c)(3) 10,000       Membership Program 2010-2011
(106) Leukemia & Lymphoma Society8033 University Blvd Suite A
Des Moines,IA50325
13-5644916 501(c)(3) 10,000       Patient Services Programs for Blood Cancer Patients & Families in Iowa
(107) Link Associates Foundation4301 NE 14th Street
Des Moines,IA50313
42-1335634 501(c)(3) 100,000       Service Center Relocation
(108) Living History Farms2600 111th Street
Urbandale,IA50322
42-6127198 501(c)(3) 32,500       Restoring the American Dream
(109) Local 67 Training Program Trust1501-E Aurora Avenue Ste B
Des Moines,IA50313
51-0195703 501(c)(5) 20,000       JIW Upgrading & Ongoing Training, Local 67 Apprenticeship & Training Program
(110) Luther Care Services2824 E 16Th Street
Des Moines,IA50316
51-0204853 501(c)(3) 10,000       Trinity Center Alzheimer's Education & Care Sponsorship
(111) Lutheran Services in Iowa Inc3116 University Avenue
Des Moines,IA50311
42-0698267 501(c)(3) 7,000       Necessity Pantry, Children's Mental Health Therapy Tools
(112) Make A Wish Foundation of Iowa3024 104th Street
Urbandale,IA50322
42-1310530 501(c)(3) 7,500       Adopt A Wish
(113) Mercy Foundation411 Laurel Suite A110
Des Moines,IA50314
23-7358794 501(c)(3) 50,000       A Million Little Reasons Campaign
(114) Metro Arts Alliance669 20th Street
Des Moines,IA50314
51-0180623 501(c)(3) 8,000       Shakesperience Festival 2011
(115) Mid-Eastern Council on Chemical Abuse4014 Kingaman Blvd
Des Moines,IA50311
42-0946031 501(c)(3) 10,000       Program Support for Bernie Lorenz
(116) Mid-Iowa Council of Boy Scouts of America1659 East Euclid Avenue
Des Moines,IA503160009
42-0981715 501(c)(3) 10,000       After School Scouting Initiative
(117) Mitchellville Community Development CorporationPO Box 15
Mitchellville,IA50169
39-1659217 501(c)(3) 7,500       Public Information and Economic Development Program
(118) Mosaic303 Locust Street Suite 300
Des Moines,IA50309
11-3669999 501(c)(3) 10,000       Transportation for Growth
(119) Muscular Dystrophy Association of Central Iowa1755 West Lakes Parkway Suite B
West Des Moines,IA50266
13-1665552 501(c)(3) 10,000       MDA Free Clinic for Patients with Neuromuscular Disease in Central & Northwest Iowa
(120) Music Under the Stars5817 Walnut Hill Avenue
Des Moines,IA50312
42-1545502 501(c)(3) 10,000       Music Under the Stars 2011
(121) National Alliance for the Mentally Ill of Greater200 SW 42nd Street
Des Moines,IA50312
42-1333379 501(c)(3) 10,000       2011 NAMI Walks for the Mind of America
(122) National Multiple Sclerosis Society North Central8187 University Blvd Suite B
Clive,IA50325
45-0255544 501(c)(3) 10,000       Direct Financial Assistance Program
(123) North Polk Community School District313 NE 141st Avenue
Alleman,IA50007
42-6023656 Gov't 22,382       Community Schools Contribution, Enhancing Learning through Mobile Technology
(124) Oakridge Neighborhood1236 Oakridge Drive
Des Moines,IA50314
42-1311721 501(c)(3) 60,000       Facilities Expansions & Enhancement, Above & Beyond
(125) Orchard Place925 Porter
Des Moines,IA50315
42-1463736 501(c)(3) 14,500       PACE Substance Abuse Services
(126) PCM Community School DistrictPO Box 610
Monroe,IA50170
42-1358436 Gov't 10,072       Using Classroom Projectors to Enhance Learning, Community Schools Contribution
(127) Polk County11171 NW 103rd Court
Granger,IA50109
42-6004519 Gov't 11,494,079       Tax Rate Sharing Contribution and Net Recipts Contribution, Freedom to Grow, At Risk and Therapeutic Riding, Mid-Iowa Sexual Assault Response Team
(128) Polk County Housing Trust Fund409 SW 8th Street
Des Moines,IA50309
42-1510879 501(c)(3) 150,000       Operating, Housing, Supportive Services & Capacity Building, Unity Place
(129) Polk County Medical Society1520 High Street
Des Moines,IA50312
42-1484880 501(c)(3) 10,000       Volunteer Physician Network
(130) Prevent Child Abuse Iowa505 Fifth Avenue Suite 900
Des Moines,IA50309
42-1117292 501(c)(3) 10,000       Shaken Baby Syndrom Prevention Project
(131) Progress Industries1017 E 7th Street North PO Box 1449
Newton,IA50208
42-1122161 501(c)(3) 10,000       Day Habilitation & Learning Program for Adults with Disabilities
(132) Roman Catholic Diocese of Des Moines601 Grand Avenue
Des Moines,IA50309
42-0680255 501(c)(3) 55,067       Support for K-12 Students in Select Accredited Nonpublic Schools in Polk & Dallas Counties, St. John's Bible Art Exhibit & Centennial Celebration of the Diocese of Des Moines
(133) Salisbury House Foundation4025 Tonwanda Drive
Des Moines,IA50312
42-1415581 501(c)(3) 125,000       Interior Surfaces Restoration & Foundation Stabilization
(134) Saydel Comm School Di5740 NE 14th Street
Des Moines,IA50313
42-6017814 Gov't 12,559       Community Schools Contribution
(135) Science Center of Iowa401 W Martin Luther King Jr Parkwa
Des Moines,IA50309
42-6097912 501(c)(3) 10,000       Science Based Summer Camp Program
(136) SCIFL Charity Inc3902 40th Street
Des Moines,IA50310
42-1272507 501(c)(5) 15,000       Outdoor Eating Area / Handicap Parking, SCIFL Labor Park Grounds Beautification
(137) Society of Saint Vincent de Paul1426 Sixth Avenue
Des Moines,IA50314
42-6021808 501(c)(3) 30,000       Educational Training Center
(138) Southeast Polk Community School District8379 NE University Avenue
Pleasant Hill,IA50327
42-0863054 Gov't 94,575       Community Schools Contribution, Spring Creek New Library Development, 'Got Bounce' Year 2010-11, Project TUX (Tuxedos Usher Xcellence), Runnells Elementary Bookroom - Nonfiction Books
(139) Special Olympics Iowa551 Dovetail Road PO Box 620
Grimes,IA50111
51-0176029 501(c)(3) 28,000       Prairie Meadows/Dahl's Foods Charity Golf Event, Polk County Events
(140) St Anthony Catholic Church16 Columbus Ave
Des Moines,IA50315
42-0808937 501(c)(3) 10,000       Spanish Immersion Program
(141) St Joseph Catholic Elementary School2107 East 33rd Street
Des Moines,IA50317
42-0822610 501(c)(3) 10,000       Mathematics Small Group Differentiation
(142) The Des Moines Playhouse831 42nd Street
Des Moines,IA50312
42-0710259 501(c)(3) 15,000       Spotlight: Literacy
(143) The Eddie Davis Community Center Inc1312 Maple Drive
West Des Moines,IA50265
42-1486502 501(c)(3) 10,000       The Eddie Davis Community Center Human/Youth Service Programs
(144) The Heart Connection Children's Cancer Programs1221 Center Street Suite 12
Des Moines,IA50309
42-1313167 501(c)(3) 10,000       Camp Heart Connection Family Camp
(145) The HOLA Center618 East 18th Street
Des Moines,IA50316
20-2262024 501(c)(3) 10,000       Citizenship Classes
(146) The Homestead1625 Adventureland Drive
Altoona,IA50009
42-1377412 501(c)(3) 10,000       The Autism Clinic
(147) Town of Bondurant200 2nd Street NE
Bondurant,IA50035
42-6004287 Gov't 20,000       Bondurant Student Scientists Watershed Project, Lake Petocka Park Playground Equipment
(148) United Way of Central Iowa1111 Ninth Street Suite 100
Des Moines,IA50314
42-0680425 501(c)(3) 253,332       Centers for Excellence: Prairie Meadows Early Learning Classrooms, 2010 Campaign
(149) Urbandale Community S11152 Aurora Avenue
Urbandale,IA50322
42-6039212 Gov't 33,859       Community Schools Contribution
(150) US Center for Citizen Diplomacy Inc525 SW 5th Street Suite A
Des Moines,IA50309
22-3930670 501(c)(3) 10,000       Iowa Global Education Initiative
(151) Variety the Childrens Charity of Iowa Inc505 Fifth Avenue Suite 310
Des Moines,IA50309
42-6077108 501(c)(3) 10,000       Variety Van Program
(152) Visiting Nurse Services1111 9th Street Suite 320
Des Moines,IA50314
42-0680446 501(c)(3) 10,000       Stork's Nest and Family Nest Programs
(153) VSA arts of Iowa400 E 14th Street
Des Moines,IA50319
42-1149470 501(c)(3) 10,000       Arts for Children Education Program
(154) Warren County Economic Development Corporation515 North Jefferson Way Suite C
Indianola,IA50125
42-1393420 501(c)(6) 10,000       WCEDC Business and Marketing Plan Implementation
(155) West Des Moines Comm3550 Mills Civic Parkway
West Des Moines,IA50265
42-6004027 Gov't 89,967       Community Schools Contribution
(156) West Des Moines Historical Society2001 Fuller Road
West Des Moines,IA50265
23-7132446 501(c)(3) 10,000       New Roof
(157) World Food Prize Foundation3200 Ruan Center
Des Moines,IA50309
42-1356715 501(c)(3) 75,000       Dr. Norman E Borlug, World Food Prize
(158) Young Mens Christian Association of Greater Des Mo1611 11th Street
Des Moines,IA50314
42-0680438 501(c)(3) 20,000       The Fatherhood Initiative, Y Camp Youth Scholarships
(159) Young Womens Resource Center705 East 2nd Street
Des Moines,IA50309
51-0186073 501(c)(3) 15,000       Problem Solving Groups (Prevention Services)
(160) Youth & Shelter Services Inc1219 Buchanan
Des Moines,IA50316
42-1051609 501(c)(3) 20,000       Reporting Software, Youth Recovery House Roof Redesign & Maintenance
(161) Youth Emergency Services & Shelter of Iowa918 SE 11th Street
Des Moines,IA50309
23-7442304 501(c)(3) 15,000       Emergency Shelter Meal Program
(162) Other Grants Paid (5000 or less)po box 1000
altoona,IA50009
  122,436       Other grants paid ($5000 or less).
2
Enter total number of section 501(c)(3) and government organizations ......................... Bullet Image
180
3
Enter total number of other organizations ................................ . Bullet Image
14
For Privacy Act and Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50055P
Schedule I (Form 990) 2010

Schedule I (Form 990) 2010
Page 2
Part III
Grants and Other Assistance to Individuals in the United States. Complete if the organization answered "Yes" to Form 990, Part IV, line 22.
Use Schedule I-1 (Form 990) if additional space is needed.
(a)Type of grant or assistance (b)Number of
recipients
(c)Amount of
cash grant
(d)Amount of
non-cash assistance
(e)Method of valuation (book,
FMV, appraisal, other)
(f)Description of non-cash assistance













Part IV
Supplemental Information. Complete this part to provide the information required in Part I, line 2, and any other additional information.
Identifier Return Reference Explanation
Grants Part IV Supplemental Information 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.
Schedule I (Form 990) 2010


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Schedule J
(Form 990)
Department of the Treasury
Internal Revenue Service
Compensation Information
For certain Officers, Directors, Trustees, Key Employees, and Highest
Compensated Employees
SchJMediumBullet Complete if the organization answered "Yes" to Form 990,
Part IV, question 23.
SchJMediumBullet Attach to Form 990. SchJMediumBullet See separate instructions.
OMB No. 1545-0047
2010
Open to Public Inspection
Name of the organization
Prairie Meadows Race Track and Casino Inc
 
Employer identification number

42-1244913
Part I
Questions Regarding Compensation
Yes
No
1a
Check the appropiate box(es) if the organization provided any of the following to or for a person listed in Form
990, Part VII, Section A, line 1a. Complete Part III to provide any relevant information regarding these items.
b
If any of the boxes in line 1a are checked, did the organization follow a written policy regarding payment or reimbursement orprovision of all the expenses described above? If "No," complete Part III to explain....
1b
Yes
 
2
Did the organization require substantiation prior to reimbursing or allowing expenses incurred by all
officers, directors, trustees, and the CEO/Executive Director, regarding the items checked in line 1a? ....
2
Yes
 
3
Indicate which, if any, of the following the organization uses to establish the compensation of the
organization's CEO/Executive Director. Check all that apply.
4
During the year, did any person listed in Form 990, Part VII, Section A, line 1a with respect to the filing organization or a related organization:
a
Receive a severance payment or change-of-control payment? ...............
4a
 
No
b
Participate in, or receive payment from, a supplemental nonqualified retirement plan? ........
4b
 
No
c
Participate in, or receive payment from, an equity-based compensation arrangement? ........
4c
 
No
If "Yes" to any of lines 4a-c, list the persons and provide the applicable amounts for each item in Part III.
Only 501(c)(3) and 501(c)(4) organizations only must complete lines 5-9.
5
For persons listed in form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the revenues of:
a
The organization? ...........................
5a
 
No
b
Any related organization? .........................
5b
 
No
If "Yes," to line 5a or 5b, describe in Part III.
6
For persons listed in form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the net earnings of:
a
The organization? ...........................
6a
 
No
b
Any related organization? .........................
6b
 
No
If "Yes," to line 6a or 6b, describe in Part III.
7
For persons listed in Form 990, Part VII, Section A, line 1a, did the organization provide any non-fixed
payments not described in lines 5 and 6? If "Yes," describe in Part III ............
7
Yes
 
8
Were any amounts reported in Form 990, Part VII, paid or accured pursuant to a contract that was
subject to the initial contract exception described in Regs. section 53.4958-4(a)(3)? If "Yes," describe
in Part III .............................
8
 
No
9
If "Yes" to line 8, did the organization also follow the rebuttable presumption procedure described in Regulations section 53.4958-6(c)? .........................
9
 
 
For Privacy Act and Paperwork Reduction Act Notice, see the Intructions for Form 990
Cat. No. 50053T
Schedule J (Form 990) 2010

Schedule J (Form 990) 2010
Page 2
Part II
Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees. Use Schedule J-1 if additional space needed.
For each individual whose compensation must be reported in Schedule J, report compensation from the organization on row (i) and from related organizations, described in the
instructions on row (ii). Do not list any individuals that are not listed on Form 990, Part VII.

Note. The sum of columns (B)(i)-(iii) must equal the applicable column (D) or column (E) amounts on Form 990, Part VII, line 1a.
(A) Name (B) Breakdown of W-2 and/or 1099-MISC compensation (C) Retirement and other deferred compensation (D) Nontaxable
benefits
(E) Total of columns
(B)(i)-(D)
(F) Compensation
reported in prior
Form 990 or
Form 990-EZ
(i) Base compensation (ii) Bonus & incentive compensation (iii) Other reportable compensation
(1) GARY PALMER (i)
(ii)
288,266
0
83,354
0
21,608
0
15,900
0
17,550
0
426,678
0
0
0
(2) ANN ATKIN (i)
(ii)
178,730
0
41,051
0
9,763
0
14,314
0
9,599
0
253,457
0
0
0
(3) JEFFREY NELSON (i)
(ii)
134,013
0
24,968
0
-696
0
10,327
0
24,707
0
193,319
0
0
0
(4) DERRON HELDT (i)
(ii)
128,273
0
26,371
0
368
0
10,149
0
26,645
0
191,806
0
0
0
(5) DANNY BYERS (i)
(ii)
124,762
0
25,749
0
6,226
0
7,927
0
2,324
0
166,988
0
0
0
(6) ELAINE CASTELLINE (i)
(ii)
124,429
0
25,537
0
1,437
0
9,720
0
23,280
0
184,403
0
0
0
(7) BRIAN WESSELS (i)
(ii)
172,227
0
39,558
0
5,892
0
14,000
0
24,683
0
256,360
0
0
0
(8) CLINTON PURSLEY (i)
(ii)
125,253
0
25,537
0
-1,128
0
9,554
0
15,325
0
174,541
0
0
0








Schedule J (Form 990) 2010

Schedule J (Form 990) 2010
Page 3
Part III
Supplemental Information
Complete this part to provide the information, explanation, or descriptions required for Part I, lines 1a, 1b, 4c, 5a, 5b, 6a, 6b, 7, and 8. Also complete this part for any additional information.
Identifier Return Reference Explanation
Schedule J Part 1, Question 7 Board of Directors set criteria and goals based on the business strategic plan. The formula is set prior to or early in the tax year. Bonuses are then calculated based on that formula and paid, if due.
Schedule J (Form 990) 2010

Additional Data


Software ID:  
Software Version:  
Schedule L
(Form 990 or 990-EZ)
Department of the Treasury
Internal Revenue Service
Transactions with Interested Persons
MediumBullet Complete if the organization answered
"Yes" on Form 990, Part IV, lines 25a, 25b, 26, 27, 28a, 28b, or 28c,
or Form 990-EZ, Part V lines 38a or 40b.
MediumBullet Attach to Form 990 or Form 990-EZ. MediumBulletSee separate instructions.
OMB No. 1545-0047
2010
Open to Public Inspection
Name of the organization
Prairie Meadows Race Track and Casino Inc
 
Employer identification number

42-1244913
Part I
Excess Benefit Transactions (section 501(c)(3) and section 501 (c)(4) organizations only).
Complete if the organization answered "Yes" on Form 990, Part IV, line 25a or 25b, or Form 990-EZ, Part V, line 40b.
1(a) Name of disqualified person (b) Description of transaction (c) Corrected?
Yes No





2
Enter the amount of tax imposed on the organization managers or disqualified persons during the year under section 4958. ......................... Bullet Image$
 
3
Enter the amount of tax, if any, on line 2, above, reimbursed by the organization ....... Bullet Image$
 

Part II
Loans to and/or From Interested Persons.
Complete if the organization answered "Yes" on Form 990, Part IV, line 26, or Form 990-EZ, Part V, line 38a.
(a) Name of interested person and purpose (b) Loan to or from the organization? (c)Original principal amount (d)Balance due (e) In default? (f) Approved by board or committee? (g)Written agreement?
To From Yes No Yes No Yes No
Total ...............Small Bullet $  
Part III
Grants or Assistance Benefitting Interested Persons.
Complete if the organization answered "Yes" on Form 990, Part IV, line 27.
(a) Name of interested person (b)Relationship between interested person and the organization (c)Amount of grant or type of assistance
For Privacy Act and Paperwork Reduction Act Notice, see the
Instructions for Form 990 or 990-EZ.
Cat. No. 50056A
Schedule L (Form 990 or 990-EZ) 2010
Schedule L (Form 990 or 990-EZ) 2010
Page 2
Part IV
Business Transactions Involving Interested Persons.
Complete if the organization answered "Yes" on Form 990, Part IV, line 28a, 28b, or 28c.
(a) Name of interested person (b) Relationship between interested person and the organization (c) Amount of transaction (d) Description of transaction (e) Sharing of organization's revenues?
Yes No
(1) Stephanie Atkin Family- Ann Atkin,Officer 42,351 Employee   No
(2) Michelle Sherzan Family- Dan Riley, Bd Mem 26,503 Employee   No
Part V
Supplemental Information
Complete this part to provide additional information for responses to questions on Schedule L (see instructions).
Identifier Return Reference Explanation
     
Schedule L (Form 990 or 990-EZ) 2010

Additional Data


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Software Version:  




SCHEDULE O
(Form 990 or 990-EZ)

Department of the Treasury
Internal Revenue Service
Supplemental Information to Form 990 or 990-EZ

Complete to provide information for responses to specific questions on
Form 990 or to provide any additional information.
MediumBullet Attach to Form 990 or 990-EZ.
OMB No. 1545-0047
2010
Open to Public
Inspection
Name of the organization
Prairie Meadows Race Track and Casino Inc
 
Employer identification number

42-1244913
Identifier Return Reference Explanation
Form 990, Part III, Line 1 Organization's Mission 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. THE PROMOTION OF SOCIAL WELFARE INCLUDES PROVIDING A SOURCE OF RECREATION FOR THE COMMUNITY, AND PROVIDING A GENERALLY POSITIVE ECONOMIC IMPACT ON CENTRAL IOWA. 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.
Form 990, Part III - Program Services 4A Program Service Prairie Meadows Race track and Casino, Inc. (PMRC) is a not-for-profit corporation made up of members who live and work in central Iowa. 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 2010, $11.4 million of PMRC's profits were distributed to Polk County, $4.0 million to the City of Des Moines, $1.0 million to the Standard bred Fair Support, $0.7 million to Polk County School Districts and approximately $4.8 million was distributed to organizations such as the City of Altoona ($750,000), Greater Des Moines Partnership ($300,000), United Way of Central Iowa ($253,332), Greater Des Moines Community Foundation ($220,000), Salisbury House Foundation ($125,000), Dowling Catholic High School ($100,000), Central Iowa Shelter and Services ($100,000), and Link Associates Foundation ($100,000).
Prairie Meadows Racetrack & Casino, Inc. Statement of Functional Expenses and Balance Sheet PRAIRIE MEADOWS RACETRACK & CASINO Fixed Assets Lead Schedule Fiscal Year-End 12/31/10 Balance Additions Deletions Balance 1/1/2010 12/31/2010 Leasehold Improvements $ 74,156,238 $ 5,278,415 $(75,651,459) $ 3,783,194 Equipment $ 17,524,772 $ 1,129,235 $ (1,463,702) $ 17,190,305 Slot Machines & Related Equipments$ 26,560,477 $ 3,864,767 $ (1,206,526) $ 29,218,718 Vehicles $ 1,200,362 $ 34,824 $ (44,322) $ 1,190,864 Computer Hardware & Software $ 5,860,907 $ 176,247 $ (80,922) $ 5,956,232 ----------------------------------------------------------------------- Total Assets $125,302,756 $10,483,488 $(78,446,931) $ 57,339,313 ----------------------------------------------------------------------- Accumulated Depreciation: Leasehold Improvements $(56,338,875) $(19,312,440) $75,651,315 $ (0) Equipment $(13,902,390) $ (1,468,031) $ 1,455,740 $(13,914,681) Slot Machines & Related Equipments $(20,565,065) $ (3,108,678) $ 1,206,525 $(22,467,218) Vehicles $ (1,093,652) $ (66,758) $ 44,322 $ (1,116,088) Computer Hardware & Software $ (5,100,010) $ (468,402) $ 80,922 $ (5,487,490) ------------------------------------------------------------------------ Total Accu. Dep. $ (96,999,992) $(24,424,309) $78,438,824 $(42,985,477) ------------------------------------------------------------------------ Total Net Assets $ 28,302,764 $ 14,353,836 ======================================================
Form 990, Part IV, Line 28b & 28c Related Party Transactions The non-profit did not have any materially related party transactions except for those activities pertaining to the facility lease and net receipts payments to Polk County and the purse and purse supplements. In accordance with the Non-profit's bylaws, four members of its board of directors are appointed by Polk County. Although the non-profit leases its primary facility from Polk County, none of the four members are employed by Polk County, voted on the Polk County lease, manage any County government section or serve as elected County officials, but this event may be deemed to be a related party transaction. The bylaws concerning board composition also require one of the board members to have been affiliated with horse racing in the last year at the Prairie Meadows facility. The board member representing the horse indusry in each of the years of 2008, 2009 and 2010 raced horses at the facility and had opportunities to receive purse and purse supplements. Additionally, two board members have family members affiliated with the horse industry. All horse races accepted entrants in the manner defined by IRGC rules, however this event may be deemed to be a related party transaction. The Non-profit board bylaws require board members to abstain from voting on any transaction, including charitable contributions, which could be construed to be a related party transaction.
Form 990, Part VI, Section A, Line 2 Business Relationships Business Relationship Described: Robert Beattie and Gary Palmer have a business relationship.
Form 990, Part VI, Section B, Line 12c Compliance with Conflicts of Interest Policy Prairie Meadows has each board member sign a standard form for the Internal Auditor, and our attorney sits in at each board meetings to ensure compliance with the conflict of interest policy.
Form 990, Part VI, Section C, Line 19 Financial and Policy Disclosures The Governing Documents and the Financial Statements are available upon request at our business address. The Financial Statements are also available at the Iowa Racing and Gaming address. Prairie Meadows publishes the Code of Ethics (including the conflict of interest) and Whistleblower policies on the company's website at www.prairiemeadows.com.
Form 990, Part VIII Investment Income Total Excluded Description Revenue Revenue ------------ ------------ ----------- Interest Income $ 346,595 $ 346,595 Interest Income from Pass-Through Entity $ 18 $ 18 Dividend Income from Pass-Through Entity $ 2,165 $ 2,165 ============ =========== $ 348,778 $ 348,778 ============ ===========
Form 990, Part VI, Section A, Line 7a Board of Directors A thirteen-member board manages the Non-profit. The Greater Des Moines Partnership has the right to appoint two additional non-voting consultants to the board. None of the members receive compensation for their service to the Non-profit and they must meet IRGC licensing requirements. The composition of the Board is 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.
Form 990, Part VI, Section A, Line 7b Governing Body The Iowa Racing and Gaming Commission has oversight of our gaming and racing activities.
Form 990, Part VI, Section B, Line 15b Compensation Determinations A Compensation Committee is formed for hiring key employees and a Hayes Study was completed in 2008.
Form 990, Part VI, Line 11A Form 990 Procedures Form 990 is prepared by an external tax accounting firm and then reviewed by the Accounting Staff including the VP/CFO. The final review is done by the Executive Committee made up of Board members before it is submitted to the Federal Government. A copy will be made available to each board member.
Form 990, Part XII, Line 12c Audit Procedures The organization has an audit committee that assumes responsibility for oversight of the audit of financial statements and selection of an independent accounting firm.
Form 990 Schedule I-1 OTHER GRANTS PAID ($5,000 OR LESS) American Federation of Labor & Congress $5,000. Iowa Excell Ankeny Area Historical Society $2,500. Get A Green Outlook Arc of Jefferson & Nearby Counties $2,500. Special Needs Bicycles Ballard Comm School District $51. Community Schools Basilica of St. John $5,000. St. Benedict Missions Child Abuse Prevention Services Inc $4,000. Crisis Child Care City of Ellsworth $2,800. Public Access Computers Class Act Productions $3,000. Costume Storage Units Collins-Maxwell Comm $174. Community Schools Employee & Family Resources $5,000. Des Moines Family Music Furry Friends Refuge $5,000. Building Renovation Hoyt Sherman Place Foundation $5,000. Community Outreach Iowa Bombers $2,000. New Uniforms/Equipment Iowa Foster and Adoptive Parents Assoc $5,000. Creating Sexual Safety Iowa Quarter Horse Racing Association $2,500. Youth Days Scholarship Madrid School Distric $267. Community Schools Network Against Human Trafficking $5,000. Human Traffick Prev On With Life Foundation $5,000. Outpatient Startup Pet Project Midwest $5,000. Pet Pantry Plymouth Place Inc. $5,000. Plymouth Place Senior Polk County Agricultural Extension Dist $5,000. Sculpture Garden Repertory Theater of Iowa $5,000. Writer in Residence Rotary Club of East Polk County $150. 2010 Dues Contrib Sacred Heart $5,000. Technology Upgrades Sixth Avenue Corridor $5,000. 6th Ave Corr Mn Street St. Augustin Catholic Church $5,000. Laptops Little Hands St. Pius X School $5,000. Playground Renovation St. Theresa Church of the Child Jesus $5,000. Technology Today West Des Moines Library Friends $5,000. Port Laptop Comp Lab Winterset Art Center Inc $3,867. Americans with Disab Woodward-Granger Comm $1,627. Community Schools Wright County Historical Society $2,000. Archival Storage Youth Homes of Mid-America $5,000. New Lawn Care Equipment Total Grants $5000 or less $122,436.
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 51056K
Schedule O (Form 990 or 990-EZ) 2010

Additional Data


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