2026-08-10T10:50:02-05:00 2025-12-31 410746749 CLIFTONLARSONALLEN LLP 220 S 6TH STREET SUITE 300 MINNEAPOLIS MN 55402 990 2025-01-01 411365177 MILKWEED EDITIONS INC MILK 6123323192 1011 WASHINGTON AVENUE SOUTH 300 MINNEAPOLIS MN 554151246 DANIEL SLAGER PUBLISHER AND CEO 6123323192 2026-08-07 1 LIZ COOK P01878112 6123764500 2026-08-07 2025 2025-03-06 01:10:19Z DANIEL SLAGER 1011 WASHINGTON AVENUE SOUTH 300 MINNEAPOLIS MN 554151246 7253670 0 X WWW.MILKWEED.ORG X 1979 MN TO IDENTIFY, NURTURE AND PUBLISH TRANSFORMATIVE LITERATURE, AND BUILD AN ENGAGED COMMUNITY AROUND IT. 24 23 24 25 0 0 1137142 1197243 161403 159636 307685 226496 3177226 3224453 4783456 4807828 0 0 0 0 1577552 1687394 0 0 393484 2839814 2924696 4417366 4612090 366090 195738 8255856 9221943 1245227 1595422 7010629 7626521 X TO IDENTIFY, NURTURE AND PUBLISH TRANSFORMATIVE LITERATURE, AND BUILD AN ENGAGED COMMUNITY AROUND IT. 0 0 2077742 3426420 BOOK PRODUCTION, DISTRIBUTION, AND PROMOTION:FOUNDED IN MINNEAPOLIS IN 1980, MILKWEED EDITIONS IS ONE OF THE NATION'S LEADING INDEPENDENT PUBLISHERS OF LITERATURE. WE CURRENTLY PUBLISH SOME THIRTY TITLES EACH YEAR IN THE CATEGORIES OF POETRY, FICTION, AND NONFICTION, AND OUR LIST IS ACCLAIMED FOR ITS DISTINCTION AND VARIETY. WE RELEASE EVERY TITLE SIMULTANEOUSLY IN PRINT AND EBOOK EDITIONS, WE ENHANCE THE PUBLICATION OF ALL TITLES WITH ORIGINAL DIGITAL CONTENT, WE LICENSE PUBLICATION OF MANY TITLES WE ORIGINATE TO FOREIGN AND AUDIOBOOK PUBLISHERS, AND, SINCE 2018, WE PUBLISH SOME OF OUR TITLES AS AUDIOBOOKS. WE CURRENTLY HAVE MORE THAN FOUR HUNDRED TITLES IN PRINT, NEARLY TWO HUNDRED TITLES AVAILABLE AS EBOOKS, AND NEARLY FIVE MILLION COPIES OF BOOKS WE PUBLISHED ORIGINALLY IN CIRCULATION AROUND THE WORLD. 1052416 OUTREACH: - GENERAL -MILKWEED IS MOTIVATED BY THE FACT THAT LITERATURE IS FUNDAMENTALLY TRANSFORMATIVE. EVERY YEAR WE SELL HUNDREDS OF THOUSANDS OF BOOKS, MANY OF OUR AUTHORS AND TITLES RECEIVE AWARDS, AND MOST TITLES RECEIVE GLOWING REVIEWS AND RECOMMENDATIONS IN A WIDE RANGE OF MEDIA. THESE ARE SOME OF THE WAYS WE MEASURE SUCCESS, BUT IN ADDITION TO OUR PUBLISHING PROGRAM, WE ACTIVELY SEEK TO BUILD COMMUNITY AROUND LITERATURE AND TO SERVE AN EXPANDING, INCREASINGLY DIVERSE CONSTITUENCY OF WRITERS AND READERS. WE SERVE WRITERS BY PROVIDING FINANCIAL AND EDITORIAL SUPPORT AND BY BUILDING A BROAD AUDIENCE FOR THEIR WORK. WE SERVE READERS BY CONNECTING THEM TO THE AUTHORS AND BOOKS WE PUBLISH. - REACHING READERS -OUR GOAL TO BUILD COMMUNITY IS ULTIMATELY ACHIEVED BY SHARING OUR WORK WITH THE WIDEST RANGE OF PARTICIPANTS AND COMMUNICATING WHY IT IS RELEVANT AND HOW IT CAN BE TRANSFORMATIVE IN THEIR LIVES. WE WORK TO MAKE OUR BOOKS AVAILABLE IN A VARIETY OF FORMATS PRINT, EBOOK, AND INCREASINGLY AUDIOBOOK; WE HAVE A VARIETY OF DISTRIBUTION PARTNERS TO HELP BOOKS REACH AS MANY MARKETS AS POSSIBLE; WE ALSO CULTIVATE STRONG RELATIONSHIPS WITH LIBRARIANS, ENSURING THAT MANY READERS BORROW OUR BOOKS; AND EACH YEAR WE DONATE SEVERAL THOUSAND BOOKS. - OPEN BOOK - AS ONE OF THREE FOUNDING TENANTS OF OPEN BOOK, THE NATION'S LARGEST LITERARY CENTER LOCATED IN DOWNTOWN MINNEAPOLIS, WE ACTIVELY SEEK TO BUILD COMMUNITY AROUND LITERATURE. IN THE YEARS SINCE ITS FOUNDING IN 2000, OPEN BOOK IS NOW A NATIONAL SUCCESS STORY. THE CENTER ATTRACTS MORE THAN 175,000 VISITORS ANNUALLY, AND WE STRENGTHENED OUR COMMITMENT TO THIS REMARKABLE INSTITUTION BY OPENING A STREET-LEVEL BOOKSTORE IN THE BUILDING IN LATE 2016. MILKWEED BOOKS SERVES AS A VIBRANT COMMUNITY SPACE, A SITE WHERE READERS DISCOVER AND INTERACT WITH WRITERS, MANY OF WHOM ARE PUBLISHED BY OTHER ORGANIZATIONS IN OUR FIELD. - FELLOWSHIP PROGRAM -THE MILKWEED FELLOWSHIP PROGRAM, LAUNCHED IN 2019, IS GROUNDED IN THE BELIEF THAT BOOKS HAVE THE POTENTIAL TO CHANGE THE WAY WE SEE THE WORLD, AND THAT EQUITY IS ESSENTIAL TO A VIBRANT, DIVERSE, AND EMPOWERED LITERARY ECOSYSTEM. THIS PAID, ONE- TO TWO-YEAR IMMERSION PROGRAM IS DESIGNED TO OFFER THE TOOLS, EXPERIENCE, AND EXPOSURE NECESSARY TO PURSUE A CAREER IN BOOK PUBLISHING. INTENDED TO PROVIDE AN ALTERNATIVE ROUTE TO SUCCESS IN AN INDUSTRY WHERE THE PREREQUISITE TO AN ENTRY LEVEL POSITION IS TYPICALLY AN UNPAID INTERNSHIP, THIS LEARNING-ORIENTED POSITION SEEKS TO PROVIDE ENTRY TO THOSE HISTORICALLY UNDERREPRESENTED AMONG WORKERS IN BOOK PUBLISHING - INDIGENOUS, PEOPLE OF COLOR, LGBTQIA+, AND THOSE WITH DISABILITIES SO THEY MAY ADVANCE, DISCOVER, AND CHAMPION TRANSFORMATIVE LITERATURE FOR YEARS TO COME. 562043 EDITORIAL:WE MEASURE THE SUCCESS OF OUR PUBLISHING PROGRAM, HOW WELL WE ACHIEVE OUR MISSION, IN MANY WAYS, INCLUDING BOOK SALES THROUGH OUR DISTRIBUTOR, OUR WEBSITE, AND OUR BOOKSTORE. IN 2025, REVENUE GENERATED BY SALES OF OUR BOOKS GROSSED MORE THAN $5 MILLION. WE ALSO FACTOR IN AWARDS, REVIEWS, AND OTHER MEDIA ATTENTION GARNERED BY OUR TITLES, AUTHORS, AND ORGANIZATION. OUR BOOKS SAW REVIEWS AND MEDIA MENTIONS IN OUTLETS RANGING FROM THE NEW YORK TIMES, THE WALL STREET JOURNAL, THE GUARDIAN, AND THE NEW YORKER AND RECENT TITLES WERE FINALISTS FOR THE PULITZER PRIZE, THE NATIONAL BOOK AWARD, THE NATIONAL BOOK CRITICS CIRCLE AWARD, PEN/JEAN STEIN BOOK AWARD, THE L.A. TIMES BOOK PRIZE, AND THE MINNESOTA BOOK AWARD, AMONG NUMEROUS OTHER AWARDS AND PRIZES. 3692201 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 164 0 24 1 0 0 0 0 1 1 1 1 0 0 0 0 0 0 X 24 23 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MN X X JANE TOWNSEND 6123323192 1011 WASHINGTON AVE S STE 300 MINNEAPOLIS MN 55415 DANIEL SLAGER PUBLISHER AND CEO 40.00 X X 226567 0 22149 SHEILA LETSCHER CHAIR 1.00 X X 0 0 0 NIMA DESAI VICE CHAIR 1.00 X X 0 0 0 SHELLY GILL MURRAY SECRETARY 1.00 X 0 0 0 STEVE SPENCER TREASURER 1.00 X X 0 0 0 JONATHAN GAW BOARD MEMBER 1.00 X 0 0 0 LEAH LAMON BOARD MEMBER 1.00 X 0 0 0 MOLLY SULLIVAN BOARD MEMBER 1.00 X 0 0 0 DEANNA THOMPSON BOARD MEMBER 1.00 X 0 0 0 MARNE ZAFAR BOARD MEMBER 1.00 X 0 0 0 JACK DEMPSEY BOARD MEMBER 1.00 X X 0 0 0 STEPHANIE MATZ BOARD MEMBER 1.00 X 0 0 0 DEEPINDER MAYELL BOARD MEMBER 1.00 X 0 0 0 SARAH STOESZ BOARD MEMBER 1.00 X 0 0 0 PAULITA LAPLANTE BOARD MEMBER 1.00 X 0 0 0 CHUCK KNAPP BOARD MEMBER 1.00 X 0 0 0 HEATHER ANFANG BOARD MEMBER 1.00 X 0 0 0 DAN CRAMER BOARD MEMBER 1.00 X 0 0 0 KARINE MOE BOARD MEMBER 1.00 X 0 0 0 SALLY NAREY BOARD MEMBER 1.00 X 0 0 0 MEGAN O'HARA BOARD MEMBER 1.00 X 0 0 0 IAN TAYLOR JR BOARD MEMBER 1.00 X 0 0 0 BETSY VAN HECK BOARD MEMBER 1.00 X 0 0 0 SHAWN MONAGHAN BOARD MEMBER 1.00 X 0 0 0 CRAIG POPELARS VICE PRESIDENT OF MARKETING & SALES 40.00 X 157070 0 3738 JANE TOWNSEND VICE PRESIDENT, ADVANCEMENT 40.00 X 149910 0 30995 533547 0 56882 2 0 1 0 INGRAM (PGW) 1 INGRAM BLVD LA VERGE TN 37086 DISTRIBUTES AND STORES INVENTORY 1093156 FRIESENS CORPORATION BOX 556 PEMBINA ND 58271 PRINT PRODUCTION 1060279 ROBIN WALL KIMMERER 1 FORESTRY DRIVE SYRACUSE NY 13210 AUTHOR ROYALTIES 812505 MASSIE AND MCQUILKIN LITERARY AGENTS 27 W 20TH ST STE 305 NEW YORK NY 10011 AUTHOR ROYALTIES AND ADVANCES 106665 4 245075 248702 703466 1197243 RIGHTS INCOME 513130 159636 159636 159636 187305 187305 1172361 1133170 39191 39191 39191 43000 245075 85331 -42331 -42331 4492709 1227341 3265368 3265368 MISCELLANEOUS REVENUE 459210 1416 1416 1416 4807828 3426420 0 184165 590429 242070 117711 230648 812112 672354 92806 46952 147704 120321 26034 1349 137149 91565 20932 24652 32693 27703 4990 40223 40223 254145 142790 93676 17679 229128 228234 894 85785 23698 55636 6451 1079103 1079103 59923 40006 9146 10771 72631 68952 177 3502 1866 1190 676 11297 7542 1724 2031 23075 15405 3522 4148 DISTRIBUTION 801296 801296 DUES AND SUBSCRIPTIONS 67744 27388 39656 700 EQUIPMENT RENTAL AND MA 14408 9619 2199 2590 151379 94155 15889 41335 4612090 3692201 526405 393484 1902117 1248253 3531650 4886743 536205 293706 1263877 1428592 532421 872439 19895 27225 544065 527343 22591 16722 447100 448263 8255856 9221943 1135692 1476896 53072 61874 56463 56652 1245227 1595422 X 6215127 7023207 795502 603314 7010629 7626521 8255856 9221943 195738 420154 0 X 0 1 X 1 0 X 2398000 1158442 918278 1137142 1197243 6809105 2398000 1158442 918278 1137142 1197243 6809105 1906507 4902598 16423 -273027 378792 102832 187305 412325 23511 16101 22905 5728 1416 69661 7291091 22153497 0.67240 0.69680 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: RIGHTS INCOME - MISCELLAENOUS REVENUE - 2021 AMOUNT: $ 23,511. 2022 AMOUNT: $ 16,101. 2023 AMOUNT: $ 22,905. 2024 AMOUNT: $ 5,728. 2025 AMOUNT: $ 1,416. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3087371 0 466163 39572 3513962 2061492 913636 124190 11947 3087371 1408409 500000 162969 9886 2061492 1282923 255000 -124677 4837 1408409 225000 1057923 3867 3867 1282923 0.93600 0.06400 0 0 83616 83616 0 460449 443727 16722 16722 LEASE LIABILITY - OPERATING 56652 56652 X 6418871 420154 3771 1227341 1651266 4767605 40223 40223 4807828 5802979 3771 1227341 1231112 4571867 40223 40223 4612090 PART V, LINE 4: MILKWEED OPERATES THE FUND FOR THE FUTURE AS A QUASI-ENDOWMENT FUND. ESTABLISHED AS A PART OF THE TAKING FLIGHT CAMPAIGN, THE FUND FOR THE FUTURE IS A LONG-TERM INVESTMENT FUND, MEANT TO PROVIDE A CRITICAL THIRD SOURCE OF REVENUE FOR THE ORGANIZATION AND SUSTAIN MILKWEED IN TIMES OF ECONOMIC UNCERTAINTY. IT IS MANAGED LIKE AN ENDOWMENT FOR INVESTMENT PURPOSES, BUT IT IS NOT LEGALLY RESTRICTED AS SUCH. THUS, THE BOARD OR ITS DESIGNEE MAY CHANGE THE FUND'S MANAGEMENT AND EXPENDITURE SHOULD ORGANIZATIONAL IMPERATIVES REQUIRE IT, OR TO STRATEGICALLY FUEL THE EXPANSION AND AMPLIFICATION OF MILKWEED'S MISSION. IN ADDITION, MILKWEED HAS DONOR-RESTRICTED FUNDS ESTABLISHED FOR THE PURPOSE OF PROVIDING AN OPERATING CASH RESERVE. PART X, LINE 2: THE ORGANIZATION HAS ADOPTED GUIDANCE ON THE INCOME TAX STANDARD REGARDING THE RECOGNITION OF UNCERTAIN TAX POSITIONS. THIS GUIDANCE PRESCRIBES THRESHOLD PRINCIPLES FOR THE FINANCIAL STATEMENT RECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN THAT ARE NOT CERTAIN TO BE REALIZED. THE IMPLEMENTATION OF THIS GUIDANCE HAD NO IMPACT ON THE ORGANIZATION'S FINANCIAL STATEMENTS. THE ORGANIZATION'S TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 1,227,341. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 1,227,341. BOOKLOVERS BALL 288075 245075 43000 21238 30177 15695 18221 288075 245075 43000 21238 30177 15695 18221 85331 -42331 X X X X 0 1 0 0 0 0 0 0 0 DANIEL SLAGER PUBLISHER AND CEO 222022 0 4545 0 0 0 0 0 22149 0 248716 0 0 0 JANE TOWNSEND VICE PRESIDENT, ADVANCEMENT 149910 0 0 0 0 0 0 0 30995 0 180905 0 0 0 CRAIG POPELARS VICE PRESIDENT OF MARKETING & SALES 154570 0 2500 0 0 0 0 0 3738 0 160808 0 0 0 PART I, LINE 3 THE EXECUTIVE COMMITTEE CONDUCTS AN ANNUAL REVIEW OF THE PUBLISHER & CEO. THEIR REVIEW AND COMPENSATION ADJUSTMENTS ARE SHARED WITH THE FULL BOARD IN AN EXECUTIVE SESSION AT A BOARD MEETING. PART I, LINE 4B DANIEL SLAGER'S COMPENSATION REPORTED ON FORM 990, PART VII INCLUDED $48,180 FOR SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN; TERMS AND CONDITIONS WERE AS FOLLOWS: DEFERRED COMPENSATION PLAN FORM 990, PART VI, SECTION B, LINE 11B THE EXECUTIVE COMMITTEE IS MADE UP OF THE OFFICERS OF THE BOARD OF DIRECTORS (CHAIR, VICE CHAIR, SECRETARY, AND TREASURER), THE IMMEDIATE PAST CHAIR OF THE BOARD OF DIRECTORS, THE CHAIR OF THE ADVANCEMENT COMMITTEE, THE CHAIR OF THE FINANCE COMMITTEE, ANY OTHER DIRECTORS WHO MAY BE APPOINTED BY THE CHAIR OF THE CORPORATION, AND, EX OFFICIO, THE PUBLISHER OF THE CORPORATION. THE EXECUTIVE COMMITTEE IS CHAIRED BY THE CHAIR OF THE BOARD OF DIRECTORS. THE EXECUTIVE COMMITTEE HAS THE AUTHORITY TO ACT FOR THE BOARD OF DIRECTORS BETWEEN MEETINGS OF THE BOARD. THE EXECUTIVE COMMITTEE CONDUCTS AN ANNUAL REVIEW OF THE PUBLISHER & CEO. THEIR REVIEW AND COMPENSATION ADJUSTMENTS ARE SHARED WITH THE FULL BOARD IN AN EXECUTIVE SESSION AT A BOARD MEETING. FORM 990, PART VI, SECTION B, LINE 11B THE AUDIT SUBCOMMITTEE OF THE FINANCE COMMITTEE REVIEWS THE AUDITED FINANCIAL STATEMENTS AND RECOMMENDS THEIR ACCEPTANCE TO THE ENTIRE BOARD OF DIRECTORS (MILKWEED'S GOVERNING BODY). EACH MEMBER OF THE BOARD RECEIVES A COPY OF THE STATEMENTS AND THIS FORM 990 PRIOR TO THE MEETING AT WHICH THE DOCUMENTS ARE REVIEWED AND ACTED UPON. BEFORE THE FORM 990 IS FILED, BOARD ACCEPTANCE OF THE FINANCIAL STATEMENTS AND APPROVAL OF THE FORM 990 IS ATTAINED. FORM 990, PART VI, SECTION B, LINE 12C INDEPENDENT BOARD MEMBERS (INTERESTED PERSONS) ARE ASKED TO SIGN A STATEMENT ANNUALLY WHICH AFFIRMS THAT THEY HAVE READ AND UNDERSTAND THE CONFLICT OF INTEREST POLICY. INTERESTED PERSONS HAVE A DUTY TO DISCLOSE POTENTIAL CONFLICTS OF INTEREST AT WHICH POINT THE REMAINING BOARD MEMBERS WILL REVIEW AND DETERMINE WHETHER A CONFLICT EXISTS. BOARD MEMBERS MUST RECUSE THEMSELVES FROM ANY DECISION AND VOTE ON DETERMINING WHETHER A CONFLICT EXISTS. ALL PROCEEDINGS RELATED TO CONFLICTS OF INTEREST ARE DOCUMENTED IN THE MEETING MINUTES. IF THE BOARD HAS REASONABLE CAUSE TO BELIEVE A MEMBER HAS FAILED TO DISCLOSE ACTUAL OR POSSIBLE CONFLICTS OF INTEREST, IT SHALL INFORM THE INTERESTED PERSON OF THE BASIS FOR SUCH BELIEF AND AFFORD THE INTERESTED PERSON AN OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE. IF, AFTER HEARING THE INTERESTED PERSON'S RESPONSE AND AFTER MAKING FURTHER ANY INQUIRY THAT MAY BE WARRANTED, THE BOARD DETERMINES THE MEMBER HAS FAILED TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, IT SHALL TAKE APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE CONDUCTS AN ANNUAL REVIEW OF THE PUBLISHER & CEO. THEIR REVIEW AND COMPENSATION ADJUSTMENTS ARE SHARED WITH THE FULL BOARD IN AN EXECUTIVE SESSION AT A BOARD MEETING. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED FOR THE FISCAL YEAR 2025. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS AUDITED FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. THE ORGANIZATION DOES NOT MAKE ITS GOVERNING DOCUMENTS OR ITS CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC.