Iowa West Foundation

Iowa West Foundation

The Iowa West Foundation was established in 1994. It receives its primary funding through the Iowa West Racing Association, the nonprofit that holds casino licenses for Horseshoe, Ameristar, and Harrah's properties in Council Bluffs. Brenda Mainwaring serves as president and chief executive. The foundation allocates approximately 31 percent of assets to private equity. It maintains limited-partner commitments to Portfolio Advisors Private Equity Fund III, Portfolio Advisors Private Equity Fund IV, Mercer Private Investment Partners IV, and Mercer Private Investment Partners VI. Additional exposure includes natural-resource vehicles such as Park Street Capital Natural Resource Fund III and Lime Rock Resources. Capital also supports direct real-estate and infrastructure projects inside Council Bluffs and Pottawattamie County, including the Mid-America Center, Tom Hanafan River's Edge Park, and the Iowa West Field House. Fifteen professionals operate from the single headquarters at River's Edge Parkway. Mercer has served as investment advisor since 2006. The foundation belongs to the Council on Foundations and the Iowa Council of Foundations. March 2026: released its annual report covering housing stability and workforce initiatives. Gaming-fee revenues create a closed regional funding loop that distinguishes the foundation from typical grant-making endowments. All major capital decisions remain tied to measurable local outcomes in Council Bluffs rather than external manager selection or national benchmarks.