Hawkeye Downs Inc
- Assets
- $801.2k
- Revenue
- $524.6k
- Investments
- $0.0
- Employees
- 24
- Location
- Cedar Rapids, IA
- Founding
- 01/1978
- Data as of
- 09/2021
- EIN
- 42-0680946
Organization Overview
Hawkeye Downs Inc is located in Cedar Rapids, IA. The organization was established in 1978. According to its NTEE Classification (K20) the organization is classified as: Agricultural Programs, under the broad grouping of Food, Agriculture & Nutrition and related organizations. As of 09/2021, Hawkeye Downs Inc employed 24 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hawkeye Downs Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 09/2021, Hawkeye Downs Inc generated $524.6k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.3% each year. All expenses for the organization totaled $693.5k during the year ending 09/2021. While expenses have increased by 4.2% per year over the past 6 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.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE AND MAINTAIN BUSINESS, ENTERTAINMENT, AND CULTURAL ACTIVITIES TO BENEFIT THE COMMUNITY AND ITS VISITORS.
Describe the Organization's Program Activity:
FURNISH FACILITY FOR THE HAWKEYE DOWNS RACING PROGRAM AND OTHER COMMUNITY INVOLVEMENT EVENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jenn Draper Executive Dir. | Trustee | 40 | $56,542 |
Joe Day Vice President | OfficerTrustee | 2 | $0 |
Julie Kraft Secretary | OfficerTrustee | 2 | $0 |
Scott Olson Treasurer | OfficerTrustee | 2 | $0 |
Gordon Parker President | OfficerTrustee | 2 | $0 |
Mark Ironside Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $28,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $16,435 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $44,435 |
| Total Program Service Revenue | $422,393 |
| Investment income | $4,521 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $500 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $3,840 |
| Net Income from Sales of Inventory | $30,636 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $524,575 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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 | $163,951 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $8,969 |
| Payroll taxes | $17,736 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $17,517 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $40,504 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $65,500 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,025 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $21,327 |
| Insurance | $39,398 |
| All other expenses | $59,883 |
| Total functional expenses | $693,476 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $492,179 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,285 |
| 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 | $0 |
| Net Land, buildings, and equipment | $301,743 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $801,207 |
| Accounts payable and accrued expenses | $1,674 |
| Grants payable | $0 |
| 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 | $210,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $24,546 |
| Total liabilities | $236,220 |
| Net assets without donor restrictions | $564,987 |
| 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 | $801,207 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Hawkeye Downs Inc has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
Greater Cedar Rapids Community Foundation Cedar Rapids, IA PURPOSE: GENERAL SUPPORT | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Iowa Farm Bureau Federation West Des Moines, IA | $1,514,260,280 | $86,995,533 |
Central Electric Cooperative Inc Mitchell, SD | $99,096,217 | $37,679,047 |
American Soybean Association St Louis, MO | $22,612,610 | $31,372,473 |
Iowa Corn Promotion Board Johnston, IA | $28,871,996 | $24,524,776 |
Iowa Corn Growers Association Johnston, IA | $20,295,827 | $19,989,952 |
National Corn Growers Association Chesterfield, MO | $16,422,383 | $19,831,099 |
Midwest Oper Engineers Construction Industry Research & Serv Tr Fund Countryside, IL | $12,085,029 | $17,769,884 |
Illinois Soybean Board Bloomington, IL | $24,441,630 | $21,800,549 |
Food Export Association Of The Midwest Usa Chicago, IL | $3,109,779 | $15,548,836 |
Illinois Corn Marketing Board Bloomington, IL | $11,624,886 | $11,889,515 |
Illinois Farm Business Farm Management Association Urbana, IL | $13,036,050 | $15,163,165 |
Minnesota Corn Growers Association Burnsville, MN | $3,976,064 | $6,629,781 |