2020-08-05T12:27:41-05:00 2019-12-31 410746749 CLIFTONLARSONALLEN LLP 220 SOUTH SIXTH STREET SUITE 300 MINNEAPOLIS MN 55402 990 2019-01-01 911257237 GRAYWOLF PRESS GRAY 6516410077 250 THIRD AVENUE N NO 600 MINNEAPOLIS MN 55401 FIONA MCCRAE DIRECTOR/PUBLISHER 6516410077 2020-05-22 1 RACHEL FLANDERS P01591790 6123764500 67.137.57.251 2020-05-22 14:44:07 CD P 80E1F4C36FD5403AFF9C3193509FEE9CEC8C2CF0 648BA5686E5CDD146CA310A02774B929465828AB 2019 2021-01-29 14:40:06Z FIONA MCCRAE 250 THIRD AVENUE N NO 600 MINNEAPOLIS MN 55401 5552732 0 X WWW.GRAYWOLFPRESS.ORG X 1974 MN GRAYWOLF PRESS IS DEDICATED TO THE CREATION OF THOUGHTFUL AND IMAGINATIVE CONTEMPORARY LITERATURE. 23 23 23 31 0 0 2218830 1380275 226817 209016 7617 28250 2815716 3018232 5268980 4635773 0 0 0 0 1235834 1379872 0 0 429392 2575442 2693627 3811276 4073499 1457704 562274 5604619 6061535 1002010 896652 4602609 5164883 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 706324 0 209016 EDITORIAL SERVICES. GRAYWOLF EDITORS CONTINUE TO SEEK SINGULAR AND CHALLENGING CONTEMPORARY LITERATURE OFTEN NEGLECTED BY COMMERCIAL PRESSES; EDITORS ACQUIRED 22 NEW MANUSCRIPTS IN 2019. WE ARE GRATIFIED BY AWARDS THAT DEMONSTRATE THE EXCELLENCE OF OUR PUBLISHING PROGRAM. IN 2019, MILKMAN BY ANNA BURNS WON THE NATIONAL BOOK CRITICS CIRCLE AWARD IN FICTION, AND DEAF REPUBLIC BY ILYA KAMINSKY AND BE RECORDER BY CARMEN GIMENEZ SMITH WERE FINALISTS FOR THE NATIONAL BOOK AWARD IN POETRY. 1742134 0 3046158 PRODUCTION. IN 2019, GRAYWOLF PUBLISHED 31 TITLES FEATURING THE WORK OF 35 AUTHORS AND TRANSLATORS. WE REACHED ABOUT 680,000 READERS WITH OUR 575 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 ENSURE THAT THOSE WITHOUT ECONOMIC RESOURCES CAN READ OUR BOOKS. 934558 0 0 PROMOTION AND MARKETING SERVICES. GRAYWOLF PLAYS A CRUCIAL ROLE IN ADVANCING OUR WRITERS' PROFESSIONAL CAREERS BY PROVIDING DYNAMIC PUBLICITY AND MARKETING. IN 2019, THE NEW YORK TIMES NAMED DEAF REPUBLIC BY ILYA KAMINSKY TO ITS LIST OF 100 NOTABLE BOOKS. GRAYWOLF AUTHORS PARTICIPATED IN OVER 440 LITERARY EVENTS ACROSS THE US IN 2019, REACHING A LIVE AUDIENCE OF ABOUT 25,000 PEOPLE. 3383016 1 1 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 0 1 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 1 157 0 23 1 0 0 0 0 0 1 1 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 LESLIE JOHNSON 6516410077 250 THIRD AVENUE N SUITE 600 MINNEAPOLIS MN 55401 TRISH ANDERSON CHAIR 2.00 X X 0 0 0 CAROL BEMIS VICE CHAIR 2.00 X X 0 0 0 MARY POLTA TREASURER 2.00 X X 0 0 0 CATHY POLASKY SECRETARY 2.00 X X 0 0 0 ART BERMAN DIRECTOR 2.00 X 0 0 0 KARIN BIRKELAND DIRECTOR 2.00 X 0 0 0 KATHLEEN BOE DIRECTOR 2.00 X 0 0 0 MILO CUMARANATUNGE DIRECTOR 2.00 X 0 0 0 RICK DOW DIRECTOR 2.00 X 0 0 0 MARY EBERT DIRECTOR 2.00 X 0 0 0 MARK JENSEN DIRECTOR 2.00 X 0 0 0 MICHELLE KEELEY DIRECTOR 2.00 X 0 0 0 JILL KOOSMANN DIRECTOR 2.00 X 0 0 0 ZACH MCMILLAN DIRECTOR 2.00 X 0 0 0 MAURA RAINEY MCCORMACK DIRECTOR 2.00 X 0 0 0 SHARON PIERCE DIRECTOR 2.00 X 0 0 0 JAN PRICE DIRECTOR 2.00 X 0 0 0 PAULA ROE DIRECTOR 2.00 X 0 0 0 GAIL SEE DIRECTOR 2.00 X 0 0 0 JAMES SHORT DIRECTOR 2.00 X 0 0 0 RODERIC SOUTHALL DIRECTOR 2.00 X 0 0 0 DEBRA STONE DIRECTOR 2.00 X 0 0 0 JUDY TITCOMB DIRECTOR 2.00 X 0 0 0 FIONA MCCRAE EXECUTIVE DIRECTOR 40.00 X 152000 0 36370 152000 0 36370 1 0 1 0 BOOKMOBILE 5120 CEDAR LAKE ROAD MINNEAPOLIS MN 55416 PRODUCTION OF BOOKS 921152 1 117675 224998 1037602 101878 1380275 RIGHTS REVENUE 511130 209016 209016 209016 28250 28250 57870 117675 85796 -27926 -27926 3877321 831163 3046158 3046158 4635773 3255174 0 324 188369 103603 9418 75348 933902 720794 122327 90781 38933 30627 4087 4219 141014 109444 20053 11517 77654 57464 9318 10872 13959 13959 17126 14728 2398 130333 54248 2888 73197 53574 14417 39157 194583 126061 8299 60223 10150 7511 1218 1421 869435 869435 61519 45524 7382 8613 88376 68425 19951 27727 18654 1108 7965 34840 32579 1042 1219 34228 25329 4107 4792 DISTRIBUTION FEES 890798 890798 PROMOTION EXPENSES 204758 175275 29483 DUES AND SUBSCRIPTIONS 22718 10921 11797 COMPLIMENTARY COPIES 21907 21907 17596 2000 15596 4073499 3383016 261091 429392 2093722 2645853 1221058 1128604 1148861 867028 438146 546415 65203 52038 322312 263501 91232 58811 546397 762786 5604619 6061535 58729 82039 538480 387383 404801 427230 1002010 896652 X 3269264 3929610 1333345 1235273 4602609 5164883 5604619 6061535 562274 0 X 0 1 X 1 0 X 897540 869440 1560788 2218830 1380275 6926873 897540 869440 1560788 2218830 1380275 6926873 1651933 5274940 248 249 251 7617 28250 36615 6963488 17430362 0.75750 0.77010 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 0 1 3453 0 0 0 3453 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. 102578 524 103102 101812 767 102578 101561 251 101812 101312 249 101561 101064 248 101312 0.00000 0.96990 0.03010 0 0 85995 85995 0 88170 68575 19595 148147 108931 39216 58811 ROYALTY ADVANCES 762786 762786 ROYALTY PAYABLE 427230 427230 X 5466936 831163 831163 4635773 0 4635773 4904662 831163 831163 4073499 0 4073499 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 831,163. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 831,163. EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 PROGRAM SERVICES ATTEND BOOK FAIRS IN THE REGION 22879 0 0 0 0 0 0 22879 0 22879 0 0 0 0 0 0 PART I, LINE 3: ACCRUAL BASIS ACCOUNTING PART III ACCOUNTING METHOD: 45TH ANNIVERSARY EVENT 175545 117675 57870 6194 51537 9889 18176 175545 117675 57870 6194 51537 9889 18176 85796 -27926 SCHEDULE G, PART II FUNDRAISING EVENTS THE GRAYWOLF AT 45 ANNIVERSARY FUNDRAISING EVENTS IN 2019 GENERATED $175,545 IN OPERATING REVENUE (INCLUDING TICKET SALES, SPONSORSHIPS, AND IN-KIND DONATIONS) AGAINST EXPENSES OF $85,796, RESULTING IN A NET GAIN OF $89,749 FOR THE ORGANIZATION. X X X 0 0 0 0 0 0 0 0 0 FIONA MCCRAE EXECUTIVE DIRECTOR 152000 0 0 0 0 0 7600 0 28770 0 188370 0 0 0 PART I, LINE 3 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. X 10 90878 FMV ON DATE OF SALE X EVENT CONTRIBUTIONS 4 11000 FMV 0 1 0 PART I, COLUMN (B): THE ORGANIZATION REPORTS THE NUMBER OF CONTRIBUTIONS ON PART I, COLUMN B FORM 990, PART VI, SECTION A, LINE 1 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 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 OCTOBER 24, 2019 TO APPROVE THE CURRENT COMPENSATION OF THE EXECUTIVE DIRECTOR, F. MCCRAE. 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 FIONA MCCRAE ON OCTOBER 24, 2019. 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.