• Home
  • News
    • Politics & Government
    • Business & Economy
    • Crime / Courts
    • Health / Medicine
  • Sports
    • High School Sports
    • Radio Iowa Poll
  • Affiliates
    • Affiliate Support Page
  • Contact Us
    • Reporters

Radio Iowa

Iowa's Radio News Network

You are here: Home / News / Endowment fund sends gambling money to counties without casinos

Endowment fund sends gambling money to counties without casinos

March 12, 2018 By Dar Danielson

Wes Ehrecke

The president of the Iowa Gaming Association presented the annual report on the County Endowment Fund during the recent meeting of the Iowa Racing and Gaming Commission.

The casinos each have a nonprofit partner which receives a percentage of the gambling profits each year to be spent in those counties. IGA president Wes Ehrecke says the County Endowment Fund was created 11 years ago for the 84 counties where there is not state-licensed casino.

“Out of our gaming tax revenue approximately $130,000 goes to every non-casino county. They each have their community foundation, a separate board of directors by which they can then set up and allocate those dollars,” according to Ehrecke. The money has a couple of requirements.

He says 25% of the money has to stay in a permanent endowment and the rest has to go out in grants. Ehrecke says the counties are able to use the money each year to leverage more funding. Those 84 county foundations helped fund several projects last year.

“Nine million dollars to 2,175 grants that you see listed in there for all kinds of innovative and worthwhile projects,” Ehrecke says. The counties with casinos sent approximately $53 million to their nonprofits. Ehrecke says some of the money in the casino counties also helps surrounding counties.

The non-casino counties originally received one-half of one percent of the game tax revenue each year — but that was increased to eight-tenths of one percent in 2006. For more information on the program, go to www.iowacommunityfoundations.org.

 

Share this:

  • Facebook
  • Twitter

Filed Under: News, Recreation / Entertainment Tagged With: Gambling, Racing and Gaming Commission

Featured Stories

Exhibit features lesser known works of Grant Wood

Testing finds 21 new CWD cases in deer

It may become a crime in Iowa to use fake urine in workplace drug tests

February trending 18 degrees below average temperature

Iowa House Education Committee votes to end tenure at UI, ISU, UNI

TwitterFacebook
Tweets by RadioIowa

Iowa State looks to avoid winless Big-12 season

New look and new format at girls’ state basketball

Youngstown State takes action against assistant football coach

Iowa’s Jack Nunge lost for the season

Key stretch begins for #9 Iowa

More Sports

eNews and Updates

Enter your email address:

Delivered by FeedBurner

Archives

Copyright © 2021 ยท Learfield News & Ag, LLC