Form 990 for tax year 2022
Filed by DUBUQUE RACING ASSOCIATION LTD.
Totals
- Total revenue
- $43,273,258
- Total expenses
- $37,044,411
- Contributions and grants received
- $0
- Grants paid
- $4,724,453
- Program service revenue
- $9,415,292
- Investment income
- $247,525
- Other revenue
- $33,610,441
- Total assets, end of year
- $63,024,044
- Total liabilities, end of year
- $26,598,846
- Net assets or fund balances, end of year
- $36,425,198
- Program services expenses (Part IX)
- $36,263,150
- Management and general expenses
- $781,261
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $36,263,150
Program services were 97.9% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
2a · Program service revenue: HOTEL REVENUE
total $3,896,886 · related or exempt $3,896,886
-
2b · Program service revenue: ADMISSION FEE
total $3,691,094 · related or exempt $3,691,094
-
2c · Program service revenue: TICKET SALES - ENTERTAINMENT
total $1,756,045 · related or exempt $1,756,045
-
2d · Program service revenue: CASH ADVANCE COMMISSION
total $71,267 · related or exempt $71,267
-
3 · Investment income
total $170,253 · excluded $170,253
-
7a · Gross sales of assets other than inventory
other assets $77,272
-
7b · Less cost or other basis and sales expenses
other assets $0
-
7c · Gain or loss
other assets $77,272
-
7d · Net gain or loss
total $77,272 · related or exempt $77,272
-
9a · Gaming: gross income
$51,941,502
-
9b · Gaming: direct expenses
$21,943,105
-
9c · Net income from gaming
total $29,998,397 · related or exempt $29,998,397
-
10a · Gross sales of inventory
$4,334,466
-
10b · Cost of goods sold
$2,993,545
-
10c · Net income from sales of inventory
total $1,340,921 · related or exempt $1,340,921
-
11a · Other revenue: HGA LOAN VALUATION
total $1,280,745 · related or exempt $1,280,745
-
11b · Other revenue: MISC
total $465,346 · related or exempt $465,346
-
11c · Other revenue: ATM SURCHARGE
total $451,904 · related or exempt $451,904
-
11d · All other revenue
total $73,128 · related or exempt $73,128
-
11e · Other revenue, total
$2,271,123
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $4,724,453 · program services $4,724,453
-
7 · Other salaries and wages
total $13,848,114 · program services $13,848,114
-
8 · Pension plan contributions
total $515,683 · program services $515,683
-
9 · Other employee benefits
total $1,875,989 · program services $1,875,989
-
10 · Payroll taxes
total $1,166,633 · program services $1,166,633
-
11b · Fees: legal
total $66,987 · management and general $66,987
-
11c · Fees: accounting
total $87,583 · management and general $87,583
-
11g · Fees: other
total $626,691 · management and general $626,691
-
12 · Advertising and promotion
total $1,517,325 · program services $1,517,325
-
13 · Office expenses
total $99,688 · program services $99,688
-
14 · Information technology
total $256,300 · program services $256,300
-
16 · Occupancy
total $2,387,881 · program services $2,387,881
-
17 · Travel
total $69,542 · program services $69,542
-
20 · Interest
total $421,014 · program services $421,014
-
22 · Depreciation, depletion and amortization
total $4,125,134 · program services $4,125,134
-
23 · Insurance
total $690,916 · program services $690,916
-
24a · Other expenses: ENTERTAINMENT
total $1,708,377 · program services $1,708,377
-
24b · Other expenses: SUPPLIES
total $629,549 · program services $629,549
-
24c · Other expenses: LEASE EXPENSE
total $545,343 · program services $545,343
-
24d · Other expenses: UNIFORMS
total $247,431 · program services $247,431
-
24e · All other expenses
total $1,433,778 · program services $1,433,778
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $8,479,922 · end of year $9,064,512
-
2 · Savings and temporary cash investments
beginning of year $13,090,219 · end of year $12,565,467
-
4 · Accounts receivable
beginning of year $592,441 · end of year $563,311
-
8 · Inventories for sale or use
beginning of year $176,303 · end of year $168,063
-
9 · Prepaid expenses and deferred charges
beginning of year $731,305 · end of year $679,821
-
10a · Land, buildings and equipment: cost or other basis
$98,211,351
-
10b · Land, buildings and equipment: accumulated depreciation
$63,628,552
-
10c · Land, buildings and equipment, net
beginning of year $35,712,262 · end of year $34,582,799
-
12 · Investments: other securities
beginning of year $5,661 · end of year $5,661
-
14 · Intangible assets
beginning of year $1,411,071 · end of year $1,220,051
-
15 · Other assets
beginning of year $1,325,156 · end of year $4,174,359
-
17 · Accounts payable and accrued expenses
beginning of year $4,980,873 · end of year $4,050,758
-
19 · Deferred revenue
beginning of year $137,039 · end of year $77,224
-
23 · Secured mortgages and notes payable
beginning of year $12,276,847 · end of year $11,803,615
-
25 · Other liabilities
beginning of year $13,933,230 · end of year $10,667,249
-
27 · Net assets without donor restrictions
beginning of year $30,196,351 · end of year $36,425,198
Mission and programs · 2022
Mission
OPERATION OF A CASINO GAMING FACILITY WITH PROFITS DISTRIBUTED TO THE CITY OF DUBUQUE AND LOCAL NONPROFIT ORGANIZATIONS TO LESSEN THE BURDEN OF GOVERNMENT AND PROMOTE SOCIAL WELFARE.
Activities or mission (Part I)
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
-
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.
Revenue $3,083,754
-
OPERATION OF A CASINO GAMING FACILITY WITH PROFITS DISTRIBUTED TO THE CITY OF DUBUQUE AND LOCAL NONPROFIT ORGANIZATIONS.
Expenses $31,186,533 · Grants $4,724,453 · Revenue $36,512,322
-
OPERATION OF A HOTEL AND RESTAURANT FACILITY ADJACENT TO ASSOCIATION'S CASINO.
Expenses $5,076,617 · Revenue $4,814,930
As filed on the 2022 return.
Listed in Part VII
-
Kay TakesKAY TAKES
MEMBER AT LARGE
- Total calculated
- $0
- Hours/week
- 5
-
Ron HerrigRON HERRIG
MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Richard DickinsonRICHARD DICKINSON
SECRETARY
- Total calculated
- $0
- Hours/week
- 5
-
Ric JonesRIC JONES
MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Paula WolfePAULA WOLFE
MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Nicole GantzNICOLE GANTZ
MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Mike FitzpatrickMIKE FITZPATRICK
MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Mike DonohueMIKE DONOHUE
1ST VICE CHAIR
- Total calculated
- $0
- Hours/week
- 5
-
Michael Van MilligenMICHAEL VAN MILLIGEN
CITY MANAGER
- Total calculated
- $0
- Hours/week
- 1
-
Lori ThielenLORI THIELEN
2ND VICE CHAIR
- Total calculated
- $0
- Hours/week
- 5
-
Harley PothoffHARLEY POTHOFF
MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Tyson LeyendeckerTYSON LEYENDECKER
TREASURER
- Total calculated
- $0
- Hours/week
- 5
-
Harold KnutsenHAROLD KNUTSEN
MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Gary DolphinGARY DOLPHIN
PAST CHAIR
- Total calculated
- $0
- Hours/week
- 5
-
Emily McCreadyEMILY MCCREADY
MEMBER AT LARGE
- Total calculated
- $0
- Hours/week
- 5
-
Eden Wales-FreedmanEDEN WALES-FREEDMAN
MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Dr Herber RiedelDR HERBER RIEDEL
MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Danny SprankDANNY SPRANK
MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Brad CavanaghBRAD CAVANAGH
MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Barbara O'HeaBARBARA O'HEA
MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Kevin LynchKEVIN LYNCH
CHAIR
- Total calculated
- $0
- Hours/week
- 5
-
Brian RakestrawBRIAN RAKESTRAW
CFO & COO
- Total calculated
- $539,454
- From this org
- $498,440
- From related orgs
- $0
- Other
- $41,014
- Hours/week
- 60
Schedule J breakdown matched by us
- Base
- $361,250
- Bonus
- $136,500
- Other
- $690
- Deferred
- $0
- Nontaxable benefits
- $41,014
- Filer's total
- $539,454
-
Alex DixonALEX DIXON
CEO & PRESIDENT
- Total calculated
- $574,156
- From this org
- $548,392
- From related orgs
- $0
- Other
- $25,764
- Hours/week
- 60
Schedule J breakdown matched by us
- Base
- $481,154
- Bonus
- $66,938
- Other
- $300
- Deferred
- $0
- Nontaxable benefits
- $25,764
- Filer's total
- $574,156
-
Stacy KanskySTACY KANSKY
CCO
- Total calculated
- $174,049
- From this org
- $163,360
- From related orgs
- $0
- Other
- $10,689
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $121,940
- Bonus
- $41,250
- Other
- $170
- Deferred
- $0
- Nontaxable benefits
- $10,689
- Filer's total
- $174,049
-
Kathy BuhrKATHY BUHR
DIRECTOR OF PHILANTHROPY & DEVELOPMENT
- Total calculated
- $158,509
- From this org
- $127,291
- From related orgs
- $0
- Other
- $31,218
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $109,231
- Bonus
- $18,000
- Other
- $60
- Deferred
- $0
- Nontaxable benefits
- $31,218
- Filer's total
- $158,509
-
Tresa HeberTRESA HEBER
DIRECTOR OF FINANCE
- Total calculated
- $193,213
- From this org
- $163,640
- From related orgs
- $0
- Other
- $29,573
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $141,833
- Bonus
- $21,600
- Other
- $207
- Deferred
- $0
- Nontaxable benefits
- $29,573
- Filer's total
- $193,213
-
Tami SchneeTAMI SCHNEE
DIRECTOR OF HR
- Total calculated
- $171,989
- From this org
- $152,752
- From related orgs
- $0
- Other
- $19,237
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $130,803
- Bonus
- $21,600
- Other
- $349
- Deferred
- $0
- Nontaxable benefits
- $19,237
- Filer's total
- $171,989
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 1a · Health or social club dues or initiation fees
- 1b · Written policy on the line-1a expenses
- 2 · Substantiation required before reimbursing expenses
- 3 · Compensation committee
- 3 · Written employment contract
- 3 · Compensation survey or study
- 3 · Approval by the board or compensation committee
- 6a · Pay contingent on this organization's net earnings
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
The filer's explanations (Part III)
- PART I, LINE 1A
- THE ORGANIZATION PAID COUNTRY CLUB DUES IN THE AMOUNT OF $220 FOR THE YEAR TO THE DUBUQUE GOLF & COUNTRY CLUB FOR THE CEO.
- PART I, LINE 6
- THE CEO'S BONUS FOR THE YEAR IS BASED ON A PERCENTAGE OF ADJUSTED EARNINGS BEFORE TAX, INTEREST, DEPRECIATION AND AMORTIZATION (EBTIDA), AS DEFINED IN HIS WRITTEN EMPLOYMENT AGREEMENT.
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
-
SCHMITT ISLAND DEVELOPMENT CORPORATION
$4,909,416
SCHMITT ISLAND FUND
-
CITY OF DUBUQUE
$1,640,487
CHARITABLE CONTRIBUTION SET ASIDE FOR THE CITY OF DUBUQUE
-
$250,000
FIELD OF DREAMS ACTIVITIES
-
TO SUPPORT THE MISSION OF HABITAT FOR HUMANITY
-
$200,000
EXPANDING A DREAM
-
$160,000
TO SUPPORT THE MISSION OF THE DUBUQUE COMMUNITY YMCA
-
DUBUQUE COUNTY HISTORICAL SOCIETY
$150,000
TO SUPPORT THE MISSION OF THE HISTORICAL SOCIETY
-
$150,000
EARLY CHILDHOOD EXPANSION
-
DUBUQUE COMMUNITY SCHOOL DISTRICT
$135,000
CONNECTION AND ENGAGEMENT EFFORTS
-
CRESCENT COMMUNITY HEALTH CARE
$125,000
TO SUPPORT THE MISSION OF CRESCENT COMMUNITY HEALTH CARE
The 10 largest by cash amount. The API serves every itemized grant.
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 13 November 2023
- IRS schema version
- 2022v5.0
- Source object
- 202333179349309528
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
The source document this was parsed from is served over the API, which is where bulk and document access live.