Nonprofit · EIN 42-1235183
DUBUQUE RACING ASSOCIATION LTD
Tax-exempt · DUBUQUE, IA 52001
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $40,501,642 | $45,376,028 | -$4,874,386 | $132,039,970 | $97,551,546 | $34,488,424 |
| December 31, 2024 | 990 | $35,289,216 | $40,927,447 | -$5,638,231 | $93,840,154 | $54,477,344 | $39,362,810 |
| December 31, 2023 | 990 | $42,364,391 | $38,488,548 | $3,875,843 | $72,291,767 | $31,990,726 | $40,301,041 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $10,192,875
- Investment income
- $360,739
- Net gain from sales of assets
- $6,520
- Net income from gaming
- $26,700,803
- Net income from sales of inventory
- $2,650,682
- Other revenue
- $29,948,028
Expenses
- Grants and similar amounts paid
- $3,433,623
- Compensation of officers, directors and key employees
- $2,095,074
- Other salaries and wages
- $12,922,880
- Salaries, compensation and benefits (total)
- $19,005,243
- Professional fundraising fees
- $0
- Legal fees
- $42,619
- Accounting fees
- $144,704
- Occupancy
- $2,534,964
- Travel
- $73,934
- Depreciation
- $5,534,312
- Program services (functional)
- $45,188,705
- Management and general (functional)
- $187,323
Balance sheet and other
- Total assets, start of year
- $93,840,154
- Total assets, end of year
- $132,039,970
- Total liabilities, end of year
- $97,551,546
- Net assets, end of year
- $34,488,424
- Land, buildings and equipment
- $96,891,604
- Net assets without donor restrictions
- $34,488,424
- Gross receipts
- $65,408,034
- Employees
- 526
- Volunteers
- 21
- Year formed
- 1985
- 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, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| BRIAN RAKESTRAW | CFO & COO Officer | 60 | $585,887 | $41,660 |
| STACY KANSKY | CCO Officer | 50 | $401,500 | $27,638 |
| ANTHONY WILLIAMS | CEO & PRESIDENT (7/1- 12/31/25) Officer | 60 | $350,144 | $11,647 |
| KATHY BUHR | VP OF PEOPLE, CULTURE AND CONTINUOUS IMPROV. Highest-paid employee | 50 | $191,807 | $33,198 |
| ALEX DIXON | CEO & PRESIDENT (1/1-1/13/25) Officer | 60 | $208,662 | $7,630 |
| LANCE CARNAHAN | VICE PRESIDENT OF OPERATIONS Highest-paid employee | 50 | $191,741 | $23,608 |
| KEN HAUGEN | DIRECTOR OF HOTEL OPERATIONS Highest-paid employee | 50 | $165,332 | $31,849 |
| MILES BREED | DIRECTOR OF F&B Highest-paid employee | 50 | $164,714 | $23,575 |
| MARTY MAIERS | DIRECTOR OF MARKETING Highest-paid employee | 50 | $156,359 | $27,194 |
| KAY TAKES | 2ND VICE CHAIR Trustee or director, Officer | 5 | $0 | $0 |
| BRAD CAVANAGH | MEMBER Trustee or director | 1 | $0 | $0 |
| CHAD WOLBERS | MEMBER AT LARGE Trustee or director | 1 | $0 | $0 |
| DANNY SPRANK | MEMBER Trustee or director | 1 | $0 | $0 |
| RIC JONES | MEMBER Trustee or director | 1 | $0 | $0 |
| NICOLE GANTZ | MEMBER Trustee or director | 1 | $0 | $0 |
15 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| PAULA WOLFE | MEMBER Trustee or director | 1 | $0 |
| RICHARD DICKINSON | MEMBER AT LARGE Trustee or director | 5 | $0 |
| MIKE DONOHUE | PAST CHAIR Trustee or director, Officer | 5 | $0 |
| RON HERRIG | MEMBER Trustee or director | 1 | $0 |
| EMILY MCCREADY | MEMBER Trustee or director | 1 | $0 |
| TYSON LEYENDECKER | 1ST VICE CHAIR Trustee or director, Officer | 5 | $0 |
| DAWN LUEKEN | MEMBER Trustee or director | 1 | $0 |
| GARY DOLPHIN | TREASURER Trustee or director, Officer | 5 | $0 |
| MIKE FITZPATRICK | MEMBER Trustee or director | 1 | $0 |
| HARLEY POTHOFF | MEMBER Trustee or director | 1 | $0 |
| MICHAEL VAN MILLIGEN | CITY MANAGER Trustee or director, Officer | 1 | $0 |
| BARBARA O'HEA | MEMBER Trustee or director | 1 | $0 |
| KEVIN LYNCH | SECRETARY Trustee or director, Officer | 5 | $0 |
| JAN POWERS | MEMBER Trustee or director | 1 | $0 |
| LORI THIELEN | CHAIR Trustee or director, Officer | 5 | $0 |
990 for the year ended December 31, 2024: 29 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| ALEX DIXON | CEO & PRESIDENT Officer | 60 | $865,819 | $29,216 |
| BRIAN RAKESTRAW | CFO & COO Officer | 60 | $547,486 | $49,902 |
| STACY KANSKY | CCO Officer | 50 | $368,516 | $28,997 |
| KATHY BUHR | DIRECTOR OF PHILANTHROPY & Highest-paid employee | 50 | $179,583 | $29,130 |
| TRESA HEBER | DIRECTOR OF FINANCE (TERMED 2024) Highest-paid employee | 1 | $202,710 | $0 |
| LANCE CARNAHAN | VICE PRESIDENT OF OPERATIONS Highest-paid employee | 50 | $159,987 | $22,943 |
| MILES BREED | DIRECTOR OF F&B Highest-paid employee | 50 | $163,901 | $0 |
| KEN HAUGEN | DIRECTOR OF HOTEL OPERATIONS Highest-paid employee | 50 | $143,715 | $7,518 |
| BARBARA O'HEA | MEMBER Trustee or director | 1 | $0 | $0 |
| BRAD CAVANAGH | MEMBER Trustee or director | 1 | $0 | $0 |
| CHAD WOLBERS | MEMBER Trustee or director | 1 | $0 | $0 |
| DANNY SPRANK | MEMBER Trustee or director | 1 | $0 | $0 |
| EMILY MCCREADY | TREASURER Trustee or director, Officer | 5 | $0 | $0 |
| GARY DOLPHIN | MEMBER AT LARGE Trustee or director | 5 | $0 | $0 |
| HARLEY POTHOFF | MEMBER Trustee or director | 1 | $0 | $0 |
| HERBER RIEDEL | MEMBER Trustee or director | 1 | $0 | $0 |
| JAN POWER | MEMBER Trustee or director | 1 | $0 | $0 |
| KAY TAKES | SECRETARY Trustee or director, Officer | 5 | $0 | $0 |
| KEVIN LYNCH | PAST CHAIR Trustee or director, Officer | 5 | $0 | $0 |
| LORI THIELEN | 1ST VICE CHAIR Trustee or director, Officer | 5 | $0 | $0 |
| MICHAEL VAN MILLIGEN | CITY MANAGER Trustee or director, Officer | 1 | $0 | $0 |
| MIKE DONOHUE | CHAIR Trustee or director, Officer | 5 | $0 | $0 |
| MIKE FITZPATRICK | MEMBER Trustee or director | 1 | $0 | $0 |
| NICOLE GANTZ | MEMBER Trustee or director | 1 | $0 | $0 |
| PAULA WOLFE | MEMBER Trustee or director | 1 | $0 | $0 |
| RIC JONES | MEMBER Trustee or director | 1 | $0 | $0 |
| RICHARD DICKINSON | MEMBER AT LARGE Trustee or director | 5 | $0 | $0 |
| RON HERRIG | MEMBER Trustee or director | 1 | $0 | $0 |
| TYSON LEYENDECKER | 2ND VICE CHAIR Trustee or director, Officer | 5 | $0 | $0 |
990 for the year ended December 31, 2023: 27 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| ALEX DIXON | CEO & PRESIDENT Officer | 60 | $694,199 | $38,345 |
| BRIAN RAKESTRAW | CFO & COO Officer | 60 | $553,838 | $43,211 |
| STACY KANSKY | CCO Officer | 50 | $324,350 | $26,618 |
| CHRIS KOLLE | VP OF HR & CONTINUOUS IMPROVEMENT Officer | 60 | $240,466 | $17,431 |
| TRESA HEBER | DIRECTOR OF FINANCE Key employee | 50 | $158,345 | $27,750 |
| KATHY BUHR | DIRECTOR OF PHILANTHROPY & Highest-paid employee | 50 | $122,571 | $31,949 |
| KAY TAKES | SECRETARY Trustee or director, Officer | 5 | $0 | $0 |
| RON HERRIG | MEMBER Trustee or director | 1 | $0 | $0 |
| RICHARD DICKINSON | TREASURER Trustee or director, Officer | 5 | $0 | $0 |
| RIC JONES | MEMBER Trustee or director | 1 | $0 | $0 |
| PAULA WOLFE | MEMBER Trustee or director | 1 | $0 | $0 |
| NICOLE GANTZ | MEMBER Trustee or director | 1 | $0 | $0 |
| MIKE FITZPATRICK | MEMBER Trustee or director | 1 | $0 | $0 |
| MIKE DONOHUE | CHAIR Trustee or director, Officer | 5 | $0 | $0 |
| MICHAEL VAN MILLIGEN | CITY MANAGER Trustee or director, Officer | 1 | $0 | $0 |
| LORI THIELEN | 1ST VICE CHAIR Trustee or director, Officer | 5 | $0 | $0 |
| HARLEY POTHOFF | MEMBER Trustee or director | 1 | $0 | $0 |
| TYSON LEYENDECKER | 2ND VICE CHAIR Trustee or director, Officer | 5 | $0 | $0 |
| HAROLD KNUTSEN | MEMBER Trustee or director | 1 | $0 | $0 |
| GARY DOLPHIN | MEMBER AT LARGE Trustee or director, Officer | 5 | $0 | $0 |
| EMILY MCCREADY | MEMBER AT LARGE Trustee or director, Officer | 5 | $0 | $0 |
| DR HERBER RIEDEL | MEMBER Trustee or director | 1 | $0 | $0 |
| DANNY SPRANK | MEMBER Trustee or director | 1 | $0 | $0 |
| MAYOR BRAD CAVANAGH | MEMBER Trustee or director | 1 | $0 | $0 |
| BARBARA O'HEA | MEMBER Trustee or director | 1 | $0 | $0 |
| KEVIN LYNCH | PAST CHAIR Trustee or director, Officer | 5 | $0 | $0 |
| JAN POWER | MEMBER Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 1855 GREYHOUND PARK RD, DUBUQUE, IA 52001-2381
- Principal officer (990 for 2025)
- ANTHONY WILLIAMS, 1855 GREYHOUND PARK DRIVE, DUBUQUE, IA 52001
- Signed the 990
- ANTHONY WILLIAMS, PRESIDENT & CEO
- Phone
- (563) 582-3647
- Website
- WWW.DRADUBUQUE.COM
- Return prepared by
- HONKAMP PC
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.
Program accomplishments
- SPONSORSHIP OF A CASINO GAMBLING OPERATION WITH PROFITS DISTRIBUTED TO THE CITY OF DUBUQUE AND LOCAL NONPROFIT ORGANIZATIONS.revenue $4,113,018
- OPERATION OF A CASINO GAMING FACILITY WITH PROFITS DISTRIBUTED TO THE CITY OF DUBUQUE AND LOCAL NONPROFIT ORGANIZATIONS.Expenses $37,507,957 · grants $3,433,623 · revenue $30,609,330
- OPERATION OF A HOTEL AND RESTAURANT FACILITY ADJACENT TO ASSOCIATION'S CASINO.Expenses $7,680,748 · revenue $5,425,075
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 | 990 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
- 42-1235183
- Tax-exempt status
- 501(c)(4): Social welfare organization
- Donations deductible
- No
- Exempt since
- 1985
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $132,039,970
- Income (IRS master file)
- $65,408,034
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $40,501,642 | $45,376,028 | $132,039,970 | XML |
| 990 | December 2024 | $35,289,216 | $40,927,447 | $93,840,154 | XML |
| 990 | December 2023 | $42,364,391 | $38,488,548 | $72,291,767 | XML |
| 990 | December 2022 | $43,273,258 | $37,044,411 | $63,024,044 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2019 | – | – | – | IRS |
| 990 | December 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 42-1235183).
Questions about DUBUQUE RACING ASSOCIATION LTD
- What is the EIN of DUBUQUE RACING ASSOCIATION LTD?
- The employer identification number (EIN) of DUBUQUE RACING ASSOCIATION LTD is 42-1235183.
- Is DUBUQUE RACING ASSOCIATION LTD tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(4) since 1985.
- Are donations to DUBUQUE RACING ASSOCIATION LTD tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does DUBUQUE RACING ASSOCIATION LTD 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 DUBUQUE RACING ASSOCIATION LTD due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did DUBUQUE RACING ASSOCIATION LTD last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who is the principal officer of DUBUQUE RACING ASSOCIATION LTD?
- The 990 for the year ended December 31, 2025 names ANTHONY WILLIAMS.
- Who are the officers and directors of DUBUQUE RACING ASSOCIATION LTD?
- The 990 for the year ended December 31, 2025 lists 30 people; 9 received compensation from the organization, the highest $585,887 (BRIAN RAKESTRAW, CFO & COO).
- How much revenue does DUBUQUE RACING ASSOCIATION LTD have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $40,501,642, expenses of $45,376,028 and total assets of $132,039,970 at year end.
Other nonprofits in DUBUQUE
- UNIVERSITY OF DUBUQUE EIN 42-0680323 · last filed 990 for 2025
- THE FINLEY HOSPITAL EIN 42-0680354 · last filed 990 for 2024
- LORAS COLLEGE EIN 42-0680412 · last filed 990 for 2025
- DUTRAC COMMUNITY CREDIT UNION EIN 42-0670685 · last filed 990 for 2025
- MEDICAL ASSOCIATES CLINIC HEALTH PLAN OF WISCONSIN EIN 39-1519198 · last filed 990 for 2025
- CLARKE UNIVERSITY OF DUBUQUE IOWA EIN 42-0680408 · last filed 990 for 2025
- STONEHILL FRANCISCAN SERVICES EIN 51-0141775 · last filed 990 for 2025
- HILLS AND DALES CHILD DEVELOPMENT CENTER EIN 42-1388270 · last filed 990 for 2025