2024-04-22T16:19:33-05:00 2023-12-31 410746749 CLIFTONLARSONALLEN LLP 220 SOUTH SIXTH STREET SUITE 300 MINNEAPOLIS MN 55402 990 2023-01-01 911257237 GRAYWOLF PRESS GRAY 6516410077 212 THIRD AVENUE N 485 MINNEAPOLIS MN 55401 CARMEN SMITH DIRECTOR/PUBLISHER 6516410077 2024-04-19 1 CARMEN SMITH 999009999 0 RACHEL FLANDERS P01591790 6123764500 2024-04-10 2 AAL1 IAL1 2023 2023-04-26 12:10:37Z CARMEN SMITH 212 THIRD AVENUE N 485 MINNEAPOLIS MN 55401 4839830 0 X WWW.GRAYWOLFPRESS.ORG X 1974 MN PUBLISHER COMMITTED TO THE DISCOVERY AND ENERGETIC PUBLICATION OF LITERATURE. 23 23 23 23 0 0 895625 1198128 255129 228694 40247 74362 2185813 1835062 3376814 3336246 4654 2100 0 0 1735959 1755314 0 0 345473 2338488 2062271 4079101 3819685 -702287 -483439 6102830 5387843 1334643 990547 4768187 4397296 X GRAYWOLF PRESS IS A LEADING INDEPENDENT PUBLISHER COMMITTED TO THE DISCOVERY AND ENERGETIC PUBLICATION OF TWENTY-FIRST CENTURY AMERICAN AND INTERNATIONAL LITERATURE. WE CHAMPION OUTSTANDING WRITERS AT ALL STAGES OF THEIR CAREERS TO ENSURE THAT ADVENTUROUS READERS CAN FIND UNDERREPRESENTED AND DIVERSE VOICES IN A CROWDED MARKETPLACE. WE BELIEVE WORKS OF LITERATURE NOURISH THE READER'S SPIRIT AND ENRICH BROADER CULTURE, AND THAT THEY MUST BE SUPPORTED BY ATTENTIVE EDITING, COMPELLING DESIGN, AND CREATIVE PROMOTION. 0 0 786859 1050 228694 EDITORIAL SERVICES. GRAYWOLF EDITORS CONTINUE TO SEEK SINGULAR WORK THAT IS ENGAGED WITH CONTEMPORARY ISSUES OF OUR TIME, AS WELL AS VOICES, STORIES, AND GENRES THAT ARE UNDERREPRESENTED IN COMMERCIAL PUBLISHING. EDITORS ACQUIRED 20 NEW MANUSCRIPTS IN 2023. WE ARE GRATIFIED BY AWARDS THAT DEMONSTRATE THE EXCELLENCE OF OUR PUBLISHING PROGRAM. IN 2023, PERCIVAL EVERETT'S NOVEL DR. NO WON THE 2023 PEN/JEAN STEIN BOOK AWARD AND WAS A FINALIST FOR THE NATIONAL BOOK CRITICS CIRCLE FICTION AWARD, CONCENTRATE BY COURTNEY FAYE TAYLOR WON THE FOUR QUARTETS PRIZE, MONICA YOUN'S FROM FROM WAS A FINALIST FOR THE NATIONAL BOOK AWARD FOR POETRY, AND MANUEL MUNOZ'S THE CONSEQUENCES WON THE JOYCE CAROL OATES PRIZE. IN 2023, GRAYWOLF LAUNCHED GRAYWOLF LAB AND PODCAST, AN ONLINE PLATFORM FOR INTERDISCIPLINARY CONVERSATIONS AND NEW WRITING. 1296948 0 1849026 PRODUCTION. IN 2023, GRAYWOLF PUBLISHED 25 TITLES FEATURING THE WORK OF 38 AUTHORS AND TRANSLATORS. WE REACHED ABOUT 600,000 READERS WITH OUR 665 TITLES IN PRINT. GRAYWOLF RELEASES SIMULTANEOUS PRINT AND EBOOK EDITIONS, AND OUR BOOKS ARE AVAILABLE IN BOOKSTORES ACROSS THE COUNTRY AS WELL AS ONLINE. RELATIONSHIPS WITH PUBLIC LIBRARIES AND A PRACTICE OF DONATING OUR BOOKS TO PRISONS AND COMMUNITY ORGANIZATIONS HELPS ENSURE THAT OUR BOOKS REACH A WIDE AUDIENCE. GRAYWOLF BOOKS ARE PRINTED ON ACID-FREE PAPER AND ARE BUILT TO LAST. WE USE RECYCLED PAPER WHENEVER POSSIBLE. 1012840 1050 0 PROMOTION AND MARKETING SERVICES. GRAYWOLF PLAYS A CRUCIAL ROLE IN ADVANCING OUR WRITERS' PROFESSIONAL CAREERS BY PROVIDING DYNAMIC PUBLICITY AND MARKETING. WE ARE COMMITTED TO FINDING A BROAD AUDIENCE FOR EACH PUBLICATION. OUR AUTHORS PARTICIPATED IN APPROXIMATELY 225 VIRTUAL AND IN-PERSON EVENTS IN 2023. IN 2023, OUR BOOKS RECEIVED HUNDREDS OF MEDIA HITS, INCLUDING THIRTY-THREE REVIEWS IN THE NEW YORK TIMES AND NEW YORK TIMES BOOK REVIEW, NINE REVIEWS IN THE NEW YORKER, AND SIX REVIEWS IN THE WASHINGTON POST. 3096647 1 1 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 168 0 23 1 0 0 0 0 0 0 0 0 0 0 0 0 X 23 23 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MN NY CA X X CARMEN SMITH 6516410077 212 THIRD AVENUE NORTH SUITE 485 MINNEAPOLIS MN 55401 DEBRA STONE CHAIR 2.00 X X 0 0 0 CATHY POLASKY VICE CHAIR 2.00 X X 0 0 0 KATHLEEN BOE SECRETARY 2.00 X X 0 0 0 JILL KOOSMAN TREASURER 2.00 X X 0 0 0 STEFANIE ADAMS DIRECTOR 2.00 X 0 0 0 RAMONA ADVANI DIRECTOR 2.00 X 0 0 0 ART BERMAN DIRECTOR 2.00 X 0 0 0 SHEILA BERUBE DIRECTOR 2.00 X 0 0 0 KARIN BIRKELAND DIRECTOR 2.00 X 0 0 0 BRIAN CHILDS DIRECTOR 2.00 X 0 0 0 MICHELLE KEELEY DIRECTOR 2.00 X 0 0 0 CHRIS KIRWAN DIRECTOR 2.00 X 0 0 0 AIMEE LAGOS DIRECTOR 2.00 X 0 0 0 LENESA LEANA DIRECTOR 2.00 X 0 0 0 ZACHARY MCMILLAN DIRECTOR 2.00 X 0 0 0 MAURA RAINEY MCCORMICK DIRECTOR 2.00 X 0 0 0 MIKE MEYER DIRECTOR 2.00 X 0 0 0 SHARON PIERCE DIRECTOR 2.00 X 0 0 0 SHAHINA PIYARALI DIRECTOR 2.00 X 0 0 0 ALEXIS RACCIATTI DIRECTOR 2.00 X 0 0 0 JAMES SHORT DIRECTOR 2.00 X 0 0 0 KATHLEEN SMITH DIRECTOR 2.00 X 0 0 0 WINIFRED SMITH DIRECTOR 2.00 X 0 0 0 CARMEN SMITH DIRECTOR/PUBLISHER 40.00 X 168039 0 19304 168039 0 19304 1 0 1 0 BOOKMOBILE 210 EDGE PLACE NE MINNEAPOLIS MN 55418 PRODUCTION OF BOOKS 852268 ASANA PARTNERS FUND 1616 CAMDEN RD STE 210 CHARLOTTE NC 28203 OFFICE OCCUPANCY 100158 2 42089 302576 853463 26833 1198128 RIGHTS REVENUE 513130 228694 228694 228694 74610 74610 614463 614711 -248 -248 -248 9147 42089 23111 -13964 -13964 2714788 865762 1849026 1849026 3336246 2077720 0 60398 2100 2100 187343 93672 28101 65570 1208487 955257 126213 127017 55190 41668 6071 7451 203780 158772 21653 23355 100514 75888 11057 13569 6975 6975 58030 58030 70502 31182 33849 5471 65082 64530 552 93009 53768 15331 23910 86312 70979 4661 10672 630206 630206 98442 75172 10448 12822 51482 39309 151 12022 64762 48434 1736 14592 48655 32584 9741 6330 39702 39702 DISTRIBUTION FEES 622200 622200 AUTHOR TOURS 47190 47190 PROMOTION EXPENSES 34286 19619 3846 10821 GALLEYS 25810 23054 2756 19626 11063 8563 3819685 3096647 377565 345473 1280356 382709 322911 198792 267781 726364 469861 728611 642164 51780 50121 736667 416850 368472 319817 1882149 2161379 866306 771100 6102830 5387843 153358 38163 189435 160663 991850 791721 1334643 990547 X 4403905 3855270 364282 542026 4768187 4397296 6102830 5387843 -483439 112548 0 X 0 1 X 1 0 X 1380275 1319101 1316718 895625 1198128 6109847 1380275 1319101 1316718 895625 1198128 6109847 1115230 4994617 28250 21589 62447 40247 74610 227143 6336990 18925998 0.78820 0.73140 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 1 2100 0 0 0 2100 0 PART II-B, LINE 1: SCHEDULE C, PART II-B, LINE 1F: THE ORGANIZATION PAYS MEMBERSHIP DUES TO ONE ORGANIZATION TO LOBBY ON BEHALF OF THE ORGANIZATION. 105491 3081 108572 104765 726 105491 104143 622 104765 103102 1041 104143 102578 524 103102 0.00000 0.92100 0.07900 0 0 371907 129981 241926 216613 138722 77891 148147 148147 0 319817 ROYALTY ADVANCES 484264 ROU ASSETS 286836 771100 ROYALTY PAYABLE 196245 LEASE LIABILITIES 595476 791721 X 4314556 112548 865762 978310 3336246 0 3336246 4685447 865762 865762 3819685 0 3819685 PART V, LINE 4: THE FUNDS DRAWN FROM THE ENDOWMENT SHALL BE USED FOR THE PURPOSE OF SUPPORTING THE GRAYWOLF PRESS NONFICTION PRIZE UNTIL SUCH TIME AS SUCH CHARITABLE USE, IN THE JUDGMENT OF THE TRUSTEE (OR THE TRUSTEES DESIGNATED REPRESENTATIVE) AND THE BOARD OF DIRECTORS OF GRAYWOLF PRESS, BECOMES UNDESIRABLE, IMPRACTICAL, IMPOSSIBLE, OR NO LONGER ADAPTS TO THE MISSION OF GRAYWOLF PRESS. PART X, LINE 2: THE ORGANIZATION HAS A TAX-EXEMPT STATUS UNDER SECTION 501 (C)(3) OF THE INTERNAL REVENUE CODE AND HAS ADOPTED ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, ASC 740-10. THE ORGANIZATION'S POLICY IS TO EVALUATE UNCERTAIN TAX POSITIONS, AT LEAST ANNUALLY, FOR THE POTENTIAL FOR INCOME TAX EXPOSURE FROM UNRELATED BUSINESS INCOME OR FROM LOSS OF NONPROFIT STATUS. THE ORGANIZATION CONTINUES TO OPERATE CONSISTENT WITH ITS ORIGINAL EXEMPTION APPLICATION AND EACH YEAR TAKES THE NECESSARY ACTIONS TO MAINTAIN ITS EXEMPT STATUS. IT HAS BEEN CLASSIFIED AS AN ORGANIZATION THAT IS NOT A PRIVATE FOUNDATION UNDER THE INTERNAL REVENUE CODE AND CHARITABLE CONTRIBUTIONS BY DONORS ARE TAX DEDUCTIBLE. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 865,762. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 865,762. LITERARY SALON 51236 42089 9147 5000 9653 8458 51236 42089 9147 5000 9653 8458 23111 -13964 X X 0 0 0 0 0 0 0 0 0 CARMEN SMITH DIRECTOR/PUBLISHER 168039 0 0 0 0 0 0 0 19304 0 187343 0 0 0 X 6 26833 FAIR MARKET VALUE 0 0 1 0 PART I, COLUMN (B): THE ORGANIZATION IS REPORTING THE NUMBER OF CONTRIBUTIONS IN COLUMN (B). FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE IS COMPRISED OF THE FOUR OFFICERS OF THE BOARD OF DIRECTORS. THE EXECUTIVE COMMITTEE MAY ACT DURING INTERVALS BETWEEN MEETINGS OF THE BOARD OF DIRECTORS, DURING WHICH AND SUBJECT TO THE BOARD'S CONTROL AND DIRECTION, THE COMMITTEE SHALL HAVE AND MAY EXERCISE ALL OF THE AUTHORITY AND POWERS OF THE BOARD OF DIRECTORS SUBJECT TO SUCH LIMITATIONS AS THE BOARD MAY IMPOSE FROM TIME TO TIME. UNLESS SPECIFICALLY AUTHORIZED BY THE BOARD OF DIRECTORS BY RESOLUTION APPROVED BY THE AFFIRMATIVE VOTE OF A MAJORITY OF THE DIRECTORS, THE EXECUTIVE COMMITTEE SHALL NOT HAVE THE AUTHORITY AND POWER TO ELECT OFFICERS, TO AMEND THE ARTICLES OF INCORPORATION, TO ADOPT A PLAN OF MERGER OR CONSOLIDATION, TO AUTHORIZE THE SALE, ENCUMBRANCE OR DISPOSITION OF ALL OR SUBSTANTIALLY ALL OF THE PROPERTY AND ASSETS OF THE CORPORATION, TO AUTHORIZE A VOLUNTARY DISSOLUTION OF THE CORPORATION OR A REVOCATION THEREOF, OR TO AMEND THE BYLAWS. FORM 990, PART VI, SECTION B, LINE 11B THE DRAFT FORM 990 IS REVIEWED IN DETAIL BY THE FINANCE AND OPERATIONS COMMITTEE. THE BOARD WILL BE PROVIDED AN ELECTRONIC OR PAPER COPY OF THE FINAL FORM 990, REFLECTING ANY CHANGES MADE AT THE DIRECTION OF THE COMMITTEE, ALONG WITH THE COMMITTEE'S RECOMMENDATION THAT THE BOARD AUTHORIZE ITS EXECUTION AND FILING ON BEHALF OF THE ORGANIZATION. BEFORE TAKING ACTION ON THE COMMITTEE'S RECOMMENDATION, THE BOARD WILL BE AFFORDED THE OPPORTUNITY TO RAISE QUESTIONS ABOUT THE CONTENT OF THE FORM 990 WITH MEMBERS OF THE COMMITTEE AND/OR THE FIRM'S EXTERNAL AUDITORS. FORM 990, PART VI, SECTION B, LINE 11B THE DRAFT FORM 990 IS REVIEWED IN DETAIL BY THE FINANCE AND OPERATIONS COMMITTEE. THE BOARD WILL BE PROVIDED AN ELECTRONIC OR PAPER COPY OF THE FIANL FORM 990, REFLECTING ANY CHANGES MADE AT THE DIRECTION OF THE COMMITTEE, ALONG IWH THTE COMMITTEE'S RECOMMENDATION THAT THE BOARD AUTHORIZE ITS EXECUTION AND FILING ON BEHALF OF THE ORGANIZATION. BEFORE TAKING ACTION ON THE COMMITTEE'S RECOMMENDATION, THE BOARD WILL BE AFFORDED THE OPPORTUNITY TO RAISE QUESTIONS ABOUT THE CONTENT OF THE FORM 990 WITH MEMBERS OF THE COMMITTEE AND/OR THE FIRM'S EXTERNAL AUDITORS. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION'S CONFLICT OF INTEREST POLICY COVERS BOARD DIRECTORS, OFFICERS, AND EMPLOYEES (RESPONSIBLE PERSONS). EACH RESPONSIBLE PERSON SHALL ANNUALLY COMPLETE A DISCLOSURE FORM IDENTIFYING ANY RELATIONSHIPS, POSITIONS, OR CIRCUMSTANCES IN WHICH THE RESPONSIBLE PERSON IS INVOLVED THAT HE OR SHE BELIEVES COULD CONTRIBUTE TO A CONFLICT OF INTEREST ARISING. ANNUAL DISCLOSURE FORMS AND OTHER DISCLOSURES MADE UNDER THE POLICY ARE REVIEWED BY THE EXECUTIVE DIRECTOR AND BOARD CHAIR. WHERE A CONFLICT IS DETERMINED TO EXIST, RESPONSIBLE PERSONS ARE RECUSED FROM POTENTIALLY CONFLICTED DECISIONS IN ACCORDANCE WITH THE POLICY. A RESPONSIBLE PERSON HAVING A CONFLICT OF INTEREST WITH RESPECT TO A TRANSACTION SHALL DISCLOSE ALL MATERIAL FACTS, SHALL RECUSE HIM/HERSELF FROM PARTICIPATING IN ANY DISCUSSION OR VOTE, AND SHALL REFRAIN FROM ANY ACTION THAT MAY AFFECT THE ORGANIZATION'S PARTICIPATION IN THE TRANSACTION. THIS WILL BE REFLECTED IN THE MINUTES FOR THE MEETING. IF IT IS UNCLEAR WHETHER A CONFLICT EXISTS, THE EXECUTIVE DIRECTOR OR BOARD CHAIR WILL MAKE A DETERMINATION. FORM 990, PART VI, SECTION B, LINE 15 ACTIONS AFFECTING THE COMPENSATION OF THE EXECUTIVE DIRECTOR ARE APPROVED BY THE BOARD OF DIRECTORS BASED UPON THE RECOMMENDATION OF THE BOARD CHAIR AND THE CHAIR OF THE BOARD'S FINANCE AND OPERATIONS COMMITTEE. THESE RECOMMENDATIONS ARE BASED ON, AMONG OTHER THINGS, (1) THE RESPONSIBILITIES AND REQUIREMENTS OF THE EXECUTIVE DIRECTOR, AS DETERMINED BY THE BOARD OF DIRECTORS; (2) REFERENCE TO THE COMPENSATION OF INDIVIDUALS IN POSITIONS DEEMED COMPARABLE TO THAT OF THE EXECUTIVE DIRECTOR, AS FOUND (FOR EXAMPLE) IN THE MINNESOTA NONPROFIT SURVEY; AND (3) THE PERFORMANCE OF THE ORGANIZATION UNDER THE EXECUTIVE DIRECTOR'S LEADERSHIP, IN ACHIEVING THE GOALS ESTABLISHED IN ITS STRATEGIC PLAN ADOPTED BY THE BOARD. THE DELIBERATIONS AND DECISION OF THE BOARD ARE UNDERTAKEN IN A MINUTED EXECUTIVE SESSION. THE PROCESS WAS UNDERTAKEN ON DECEMBER 7, 2023 TO APPROVE THE CURRENT COMPENSATION OF THE EXECUTIVE DIRECTOR, C.SMITH. AS PART OF THE ANNUAL BUDGET PROCESS, THE EXECUTIVE DIRECTOR WILL RECOMMEND THE COMPENSATION FOR EACH MEMBER OF THE STAFF WHICH WILL BE REVIEWED WITH THE CHAIR OF THE BOARD OF DIRECTORS AND THE CHAIR OF THE BOARD'S FINANCE AND OPERATIONS COMMITTEE. ON THE BASIS OF THIS REVIEW, THE BOARD CHAIR AND THE COMMITTEE CHAIR WILL RECOMMEND APPROVAL BY THE BOARD OF THE AGGREGATE AMOUNT BUDGETED FOR STAFF COMPENSATION FOR THE RELEVANT PERIOD. OUTSIDE THE ANNUAL BUDGETING PROCESS, THE EXECUTIVE DIRECTOR MAY APPROVE COMPENSATION INCREASES AND OFFERS OF EMPLOYMENT SPECIFYING COMPENSATION, FOR INDIVIDUAL STAFF MEMBERS UPON PRIOR CONSULTATION WITH THE BOARD CHAIR AND/OR THE COMMITTEE CHAIR. FOR SALARY DETERMINATION, GUIDELINES ARE DEVELOPED BASED ON A SPECIALIST'S SURVEY OF COMPENSATION PAID BY OTHER NOT-FOR-PROFIT ORGANIZATIONS FOR COMPARABLE POSITIONS TO ASSIST IN ASSESSING THE APPROPRIATENESS OF COMPENSATION FOR ALL STAFF POSITIONS CONTEMPLATED BY THE BUDGET. THESE GUIDELINES ARE APPLIED IN ALL DETERMINATIONS ABOUT COMPENSATION. THE MOST RECENT COMPENSATION REVIEW WAS PERFORMED FOR CARMEN SMITH ON NOVEMBER 8, 2023. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2023. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.