Nonprofit · EIN 42-0680946
HAWKEYE DOWNS INC
Tax-exempt · CEDAR RAPIDS, IA 52404
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $781,763 | $840,109 | -$58,346 | $185,098 | $30,924 | $154,174 |
| December 31, 2023 | 990 | $868,732 | $885,813 | -$17,081 | $277,188 | $64,668 | $212,520 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $49,180
- of which government grants
- $49,146
- Program service revenue
- $593,995
- Investment income
- $203
- Net income from gaming
- $5,489
- Net income from sales of inventory
- $127,650
- Other revenue
- $138,385
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $0
- Other salaries and wages
- $181,097
- Salaries, compensation and benefits (total)
- $212,140
- Professional fundraising fees
- $0
- Accounting fees
- $16,359
- Occupancy
- $71,050
- Depreciation
- $51,999
- Program services (functional)
- $703,601
- Management and general (functional)
- $136,508
Balance sheet and other
- Total assets, start of year
- $277,188
- Total assets, end of year
- $185,098
- Total liabilities, end of year
- $30,924
- Net assets, end of year
- $154,174
- Land, buildings and equipment
- $148,895
- Net assets without donor restrictions
- $154,174
- Gross receipts
- $927,240
- Employees
- 54
- Volunteers
- 75
- Year formed
- 1977
- State of legal domicile
- IA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JENNIFER LAWRENCE | Executive Dir. Trustee or director | 40 | $66,113 | $6,368 |
| JOE DAY | Vice President Trustee or director, Officer | 2 | $0 | $0 |
| JULIE KRAFT | Secretary Trustee or director, Officer | 2 | $0 | $0 |
| SCOTT OLSON | Treasurer Trustee or director, Officer | 2 | $0 | $0 |
| GORDON PARKER | President Trustee or director, Officer | 2 | $0 | $0 |
| KEVIN KORSMO | Director Trustee or director | 2 | $0 | $0 |
| MARK IRONSIDE | Director Trustee or director | 2 | $0 | $0 |
| NICOLE SCHROEDER | Director Trustee or director | 2 | $0 | $0 |
| WARREN ROPP | Director Trustee or director | 2 | $0 | $0 |
990 for the year ended December 31, 2023: 9 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JENNIFER LAWRENCE | Executive Dir. Trustee or director | 40 | $64,500 | $7,227 |
| JOE DAY | Vice President Trustee or director, Officer | 2 | $0 | $0 |
| JULIE KRAFT | Secretary Trustee or director, Officer | 2 | $0 | $0 |
| SCOTT OLSON | Treasurer Trustee or director, Officer | 2 | $0 | $0 |
| GORDON PARKER | President Trustee or director, Officer | 2 | $0 | $0 |
| KEVIN KORSMO | Director Trustee or director | 2 | $0 | $0 |
| MARK IRONSIDE | Director Trustee or director | 2 | $0 | $0 |
| NICOLE SCHROEDER | Director Trustee or director | 2 | $0 | $0 |
| WARREN ROPP | Director Trustee or director | 2 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 4400 6TH ST SW, CEDAR RAPIDS, IA 52404-4431
- Signed the 990
- GORDON PARKER, President
- Phone
- (319) 365-8656
- Website
- www.hawkeyedowns.org
- Return prepared by
- Koppenhaver & Associates PC
Mission
TO PROVIDE AND MAINTAIN BUSINESS, ENTERTAINMENT, AND CULTURAL ACTIVITIES TO BENEFIT THE COMMUNITY AND ITS VISITORS.
Program accomplishments
- FURNISH FACILITY FOR THE HAWKEYE DOWNS RACING PROGRAM AND OTHER COMMUNITY INVOLVEMENT EVENTS.Expenses $703,601 · revenue $593,995
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 42-0680946
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (509(a)(2))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1978
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $185,098
- Income (IRS master file)
- $927,240
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $781,763 | $840,109 | $185,098 | XML |
| 990-T | December 2024 | – | – | – | IRS |
| 990 | December 2023 | $868,732 | $885,813 | $277,188 | XML |
| 990-T | December 2023 | – | – | – | IRS |
| 990 | December 2022 | $96,379 | $168,456 | $284,272 | IRS |
| 990-T | December 2022 | – | – | – | IRS |
| 990 | September 2022 | $636,898 | $900,207 | $558,669 | IRS |
| 990-T | September 2022 | – | – | – | IRS |
| 990 | September 2021 | – | – | – | IRS |
| 990-T | September 2021 | – | – | – | IRS |
| 990 | September 2020 | – | – | – | IRS |
| 990 | September 2019 | – | – | – | IRS |
| 990 | September 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 42-0680946).
Questions about HAWKEYE DOWNS INC
- What is the EIN of HAWKEYE DOWNS INC?
- The employer identification number (EIN) of HAWKEYE DOWNS INC is 42-0680946.
- Is HAWKEYE DOWNS INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1978.
- Are donations to HAWKEYE DOWNS INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does HAWKEYE DOWNS INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of HAWKEYE DOWNS INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did HAWKEYE DOWNS INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who are the officers and directors of HAWKEYE DOWNS INC?
- The 990 for the year ended December 31, 2024 lists 9 people; 1 received compensation from the organization, the highest $66,113 (JENNIFER LAWRENCE, Executive Dir.).
- How much revenue does HAWKEYE DOWNS INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $781,763, expenses of $840,109 and total assets of $185,098 at year end.
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