Palo Alto County Gaming Development Corporation
- Assets
- $4.7m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 2
- Location
- Emmetsburg, IA
- Founding
- 07/2006
- Data as of
- 12/2022
- EIN
- 04-3798129
Organization Overview
Palo Alto County Gaming Development Corporation is located in Emmetsburg, IA. The organization was established in 2006. According to its NTEE Classification (T12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2022, Palo Alto County Gaming Development Corporation employed 2 individuals. This organization is the central organization for a national or regional group of organizations. Palo Alto County Gaming Development Corporation is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2022, Palo Alto County Gaming Development Corporation generated $1.9m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.5% each year. All expenses for the organization totaled $1.5m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Palo Alto County Gaming Development Corporation has awarded 240 individual grants totaling $13,547,367. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO OPERATE EXCLUSIVELY FOR THE PURPOSES ENUMERATED IN THE IOWA GAMING COMMISSION ACT. TO PARTICIPATE IN ANY CHARITIBLE, SCIENTIFIC OR EDUCATIONAL ACTIVITY WHICH THE BOARD OF DIRECTORS DETERMINES. TO ERECT OR MAINTAIN PUBLIC BUILDINGS OR WORKS, OR OTHERWISE LESSON THE BURDENS OF THE CITIES, COUNTIES AND STATE GOVERNMENT. TO PROVIDE FACILITIES DEDICATED EXCLUSIVELY FOR THE PROMOTION OF THE SOCIAL WELFARE OF THE COMMUNITIES AND OPEN TO ALL CITIZENS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO OPERATE EXCLUSIVELY FOR THE PURPOSE ENUMERATED IN THE IOWA GAMING COMMISSION ACT. TO PARTICIPATE IN ANY CHARITABLE, SCIENTIFIC OR EDUCATIONAL ACTIVITY WHICH THE BOARD DIRECTORS DETERMINES. TO ERECT OR MAINTAIN PUBLIC BUILDINGS OR WORKS, OR OTHERWISE LESSON THE BURDENS OF THE CITIES, COUNTIES AND STATE GOVERNMENT. TO PROVIDE FACILITIES DEDICATED EXCLUSIVELY FOR THE PROMOTION OF THE SOCIAL WELFARE OF THE COMMUNITIES AND OPEN TO ALL CITIZENS.
TO OPERATE EXCLUSIVELY FOR THE PURPOSE ENUMERATED IN THE IOWA GAMING COMMISSION ACT. TO PARTICIPATE IN ANY CHARITABLE, SCIENTIFIC OR EDUCATIONAL ACTIVITY WHICH THE BOARD DIRECTORS DETERMINES. TO ERECT OR MAINTAIN PUBLIC BUILDINGS OR WORKS, OR OTHERWISE LESSON THE BURDENS OF THE CITIES, COUNTIES AND STATE GOVERNMENT. TO PROVIDE FACILITIES DEDICATED EXCLUSIVELY FOR THE PROMOTION OF THE SOCIAL WELFARE OF THE COMMUNITIES AND OPEN TO ALL CITIZENS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brian Bormann President | OfficerTrustee | $0 | |
Abby Burns Secretary | Trustee | $0 | |
Bill Dickey Vice Preside | Trustee | $0 | |
David Hadley Treasurer | Trustee | $0 | |
Jan Helmke Director | OfficerTrustee | $0 | |
Kim Hoffman Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $1,911,538 |
| Investment income | $22,307 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,933,845 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,439,044 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $11,305 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $909 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,426 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $10,690 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $7,865 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,360 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,379 |
| Insurance | $3,316 |
| All other expenses | $1 |
| Total functional expenses | $1,546,042 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,511,672 |
| Savings and temporary cash investments | $1,166,332 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $55,314 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $7,661 |
| Net Land, buildings, and equipment | $3,986 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,608 |
| Total assets | $4,747,573 |
| Accounts payable and accrued expenses | $92,236 |
| Grants payable | $426 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $92,662 |
| Net assets without donor restrictions | $4,654,911 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $4,747,573 |
Grants Awarded
Over the last fiscal year, Palo Alto County Gaming Development Corporation has awarded $1,436,093 in support to 17 organizations.
| Grant Recipient | Amount |
|---|---|
CITY OF AYRSHIRE PURPOSE: CAPITAL EXPENDITURES | $25,161 |
CITY OF CURLEW PURPOSE: CAPITAL EXPENDITURES | $11,748 |
CITY OF CYLINDER PURPOSE: CAPITAL EXPENDITURES | $14,068 |
CITY OF EMMETSBURG PURPOSE: CAPITAL EXPENDITURES | $341,038 |
CITY OF GRAETTINGER PURPOSE: CAPITAL EXPENDITURES | $74,503 |
CITY OF MALLARD PURPOSE: CAPITAL EXPENDITURES | $23,806 |