Dubuque Racing Association Ltd
- Assets
- $72.3m
- Revenue
- $42.4m
- Investments
- $5.7k
- Employees
- 577
- Location
- Dubuque, IA
- Founding
- 11/1985
- Data as of
- 12/2023
- EIN
- 42-1235183
Organization Overview
Dubuque Racing Association Ltd is located in Dubuque, IA. The organization was established in 1985. According to its NTEE Classification (N30) the organization is classified as: Physical Fitness & Community Recreational Facilities, under the broad grouping of Recreation & Sports and related organizations. As of 12/2023, Dubuque Racing Association Ltd employed 577 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Dubuque Racing Association Ltd 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 12/2023, Dubuque Racing Association Ltd generated $42.4m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 1.5% each year. All expenses for the organization totaled $38.5m during the year ending 12/2023. While expenses have increased by 1.1% per year over the past 9 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Dubuque Racing Association Ltd has awarded 1,011 individual grants totaling $36,515,404. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
OPERATION OF A CASINO GAMING FACILITY WITH PROFITS DISTRIBUTED TO THE CITY AND COUNTY OF DUBUQUE AND LOCAL NONPROFIT ORGANIZATIONS TO LESSEN THE BURDEN OF GOVERNMENT AND PROMOTE SOCIAL WELFARE
Describe the Organization's Program Activity:
Part 3 - Line 4a
SPONSORSHIP OF A CASINO GAMBLING OPERATION AND SUPPORT, INCLUDING MAINTENANCE OF GROUNDS AND FACILITY, OF A PARI-MUTUEL DOG RACING FACILITY OWNED AND OPERATED BY ANOTHER PARTY, WITH PROFITS DISTRIBUTED TO THE CITY OF DUBUQUE AND LOCAL NONPROFIT ORGANIZATIONS.
OPERATION OF A CASINO GAMING FACILITY WITH PROFITS DISTRIBUTED TO THE CITY OF DUBUQUE AND LOCAL NONPROFIT ORGANIZATIONS.
OPERATION OF A HOTEL AND RESTAURANT FACILITY ADJACENT TO ASSOCIATION'S CASINO.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kay Takes Secretary | OfficerTrustee | 5 | $0 |
Ron Herrig Member | Trustee | 1 | $0 |
Richard Dickinson Treasurer | OfficerTrustee | 5 | $0 |
Ric Jones Member | Trustee | 1 | $0 |
Paula Wolfe Member | Trustee | 1 | $0 |
Nicole Gantz Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Conlon Construction Co Construction | 12/30/23 | $1,461,256 |
Dlr Group Architecture | 12/30/23 | $3,365,346 |
Bailee Touring Corp Theatrical Producers And Services | 12/30/23 | $497,455 |
Aristocrat Technologies Inc Gaming | 12/30/23 | $442,281 |
Wired Prodcution Group Design/marketing | 12/30/23 | $485,201 |
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 | $11,075,270 |
| Investment income | $984,771 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $45,050 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $27,431,511 |
| Net Income from Sales of Inventory | $1,868,872 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $42,364,391 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $4,081,812 |
| 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 | $14,683,421 |
| Pension plan accruals and contributions | $494,012 |
| Other employee benefits | $2,027,968 |
| Payroll taxes | $1,232,683 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $58,414 |
| Fees for services: Accounting | $65,616 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $874,721 |
| Advertising and promotion | $1,178,004 |
| Office expenses | $114,934 |
| Information technology | $280,774 |
| Royalties | $0 |
| Occupancy | $2,443,521 |
| Travel | $91,852 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $421,838 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,139,440 |
| Insurance | $690,916 |
| All other expenses | $1,292,658 |
| Total functional expenses | $38,488,548 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,960,167 |
| Savings and temporary cash investments | $20,470,209 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $783,054 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $157,472 |
| Prepaid expenses and deferred charges | $749,533 |
| Net Land, buildings, and equipment | $31,781,389 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $5,661 |
| Investments—program-related | $0 |
| Intangible assets | $1,029,031 |
| Other assets | $11,355,251 |
| Total assets | $72,291,767 |
| Accounts payable and accrued expenses | $6,456,577 |
| Grants payable | $0 |
| Deferred revenue | $76,516 |
| 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 | $14,830,028 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $10,627,605 |
| Total liabilities | $31,990,726 |
| Net assets without donor restrictions | $40,301,041 |
| 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 | $72,291,767 |
Grants Awarded
Over the last fiscal year, Dubuque Racing Association Ltd has awarded $8,045,923 in support to 52 organizations.
| Grant Recipient | Amount |
|---|---|
ANDREW VOLUNTEER FIREMEN INC PURPOSE: PURCHASE OF SEATING | $7,583 |
CAMP ALBRECHT ACRES OF THE MIDWEST PURPOSE: STAFF RECRUITMENT INCENTIVES | $10,000 |
CASCADE AMBULANCE SERVICE PURPOSE: CASCADE AMBULANCE SERVICE SUSTAINABILITY STUDY | $16,264 |
CENTRALIA PEOSTA COMMUNITY FIRE DEPARTMENT PURPOSE: SOUND SYSTEM INSTALLATION AND PORTABLE TABLES | $16,153 |
CITY OF DUBUQUE PURPOSE: CHARITABLE CONTRIBUTION SET ASIDE FOR THE CITY OF DUBUQUE | $1,371,386 |
CITY OF PRESTON PURPOSE: MAIN STREET SQUARE | $15,000 |