2015-03-30T11:19:47-05:00 2014-12-31 410746749 CLIFTONLARSONALLEN LLP 220 SOUTH SIXTH STREET SUITE 300 MINNEAPOLIS MN 55402 990 2014-01-01 911257237 GRAYWOLF PRESS GRAY 6516410077 250 THIRD AVENUE N NO 600 MINNEAPOLIS MN 55401 FIONA MCCRAE DIRECTOR/PUBLISHER 6516410077 2015-03-23 1 RACHEL FLANDERS P01591790 6123764500 2014 2016-02-25 16:41:14Z FIONA MCCRAE 250 THIRD AVENUE N NO 600 MINNEAPOLIS MN 55401 3140942 0 X WWW.GRAYWOLFPRESS.ORG X 1974 MN GRAYWOLF PRESS IS DEDICATED TO THE CREATION OF THOUGHTFUL AND IMAGINATIVE CONTEMPORARY LITERATURE. 19 19 16 46 0 0 1063149 1136158 110179 63898 443 247 693161 1036710 1866932 2237013 0 0 0 0 904608 772981 0 5000 196294 1277716 1454391 2182324 2232372 -315392 4641 2223260 2533970 321828 627897 1901432 1906073 X GRAYWOLF PRESS IS A LEADING INDEPENDENT PUBLISHER COMMITTED TO THE DISCOVERY AND ENERGETIC PUBLICATION OF CONTEMPORARY AMERICAN AND INTERNATIONAL LITERATURE. GRAYWOLF PRESS CHAMPIONS OUTSTANDING WRITERS AT ALL STAGES OF THEIR CAREERS TO ENSURE THAT DIVERSE VOICES CAN BE HEARD IN A CROWDED MARKETPLACE. 0 0 466228 0 63898 EDITORIAL SERVICES - GRAYWOLF EDITORS CONTINUE TO SEEK SINGULAR AND CHALLENGING CONTEMPORARY LITERATURE OFTEN NEGLECTED BY COMMERCIAL PRESSES. OUR AUTHORS AND EDITORIAL STAFF ARE INCREASINGLY RECOGNIZED FOR THEIR ARTISTIC EXCELLENCE AND VISION. IN 2014, VIJAY SESHADRI'S 3 SECTIONS WON THE PULITZER PRIZE IN POETRY, AND BOTH CITIZEN: AN AMERICAN LYRIC BY CLAUDIA RANKINE AND SECOND CHILDHOOD BY FANNY HOWE WERE FINALISTS FOR THE NATIONAL BOOK AWARD IN POETRY. THE EDITORIAL STAFF HAS A COMBINED 91 YEARS OF EXPERIENCE. 871862 0 1078902 PRODUCTION - IN 2014, GRAYWOLF PUBLISHED THIRTY-TWO TITLES AND HAD OUR BEST SALES YEAR EVER. THREE 2014 TITLES HAD AN UNUSUALLY STRONG IMPACT ON READERS IN GENERAL AND PUBLIC DISCOURSE OVERALL. THE EMPATHY EXAMS BY LESLIE JAMISON FURTHERED CONVERSATIONS AROUND THE TOPIC OF EMPATHY AND ITS ROLE IN AMERICAN CULTURE. ON IMMUNITY BY EULA BISS EXAMINED THE IMPORTANCE OF VACCINATIONS AS A PUBLIC GOOD. CITIZEN BY CLAUDIA RANKINE PINPOINTED THE TOPIC OF WHITE PRIVILEGE AND EXPLORED THE WAYS THAT RACISM CAN APPEAR AS MICROAGGRESSIONS IN EVERYDAY LIFE. THESE THREE BOOKS EXEMPLIFY GRAYWOLF AT ITS BEST: THEY ARE WORKS OF ART THAT ALSO ENGAGE WITH ISSUES OF IMPORTANCE TO THE PUBLIC. 505068 0 0 PROMOTION AND MARKETING SERVICES - GRAYWOLF PLAYS A CRUCIAL ROLE IN ADVANCING OUR WRITERS' PROFESSIONAL CAREERS BY PROVIDING DYNAMIC PUBLICITY AND MARKETING. WE USE OUR WEBSITE, SOCIAL MEDIA, AND RELATIONSHIPS WITH BOOKSTORES, CULTURAL CENTERS, AND LIBRARIES TO CONNECT READERS WITH GREAT BOOKS AND AUTHORS. DURING 2014, WE REACHED AN AUDIENCE OF OVER 360,000 WITH OUR BOOKS. OUR BROADCAST AND MAGAZINE AUDIENCE DURING THE SAME PERIOD WAS OVER 98 MILLION. THE NEW YORK TIMES REVIEWED 16 (50%) OF OUR BOOKS AND NAMED ON IMMUNITY BY EULA BISS ONE OF THE TEN BEST BOOKS OF 2014. SONG OF THE SHANK BY JEFFERY RENARD ALLEN RECEIVED A RAVE REVIEW ON THE COVER OF THE NEW YORK TIMES BOOK REVIEW. 1843158 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 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 113 0 16 1 0 0 0 0 0 1 1 0 0 0 0 X 19 19 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 X LESLIE JOHNSON 6516410077 250 THIRD AVENUE N SUITE 600 MINNEAPOLIS MN 55401 ED MCCONAGHAY CHAIR 2.00 X X 0 0 0 MARY POLTA VICE CHAIR 2.00 X X 0 0 0 CHRIS GALLOWAY TREASURER 2.00 X X 0 0 0 CHRIS KIRWAN SECRETARY 2.00 X X 0 0 0 CATHERINE ALLAN DIRECTOR 2.00 X 0 0 0 TRISH ANDERSON DIRECTOR 2.00 X 0 0 0 MARY EBERT DIRECTOR 2.00 X 0 0 0 LEE FREEMAN DIRECTOR 2.00 X 0 0 0 SHIRLEY HUGHES DIRECTOR 2.00 X 0 0 0 TOM JOYCE DIRECTOR 2.00 X 0 0 0 WILL KAUL DIRECTOR 2.00 X 0 0 0 ANN MACDONALD DIRECTOR 2.00 X 0 0 0 JIM MCCARTHY DIRECTOR 2.00 X 0 0 0 GEORGIA MURPHY JOHNSON DIRECTOR 2.00 X 0 0 0 ALLIE POHLAD DIRECTOR 2.00 X 0 0 0 BRUNO QUINSON DIRECTOR 2.00 X 0 0 0 GAIL SEE DIRECTOR 2.00 X 0 0 0 RODERIC SOUTHALL DIRECTOR 2.00 X 0 0 0 KATE TABNER DIRECTOR 2.00 X 0 0 0 EMILY ANNE TUTTLE DIRECTOR 2.00 X 0 0 0 MELINDA WARD DIRECTOR 2.00 X 0 0 0 FIONA MCCRAE EXECUTIVE DIRECTOR 40.00 X 96162 0 11731 96162 0 11731 1 0 0 0 BOOKMOBILE 5120 CEDAR LAKE ROAD MINNEAPOLIS MN 55416 PRODUCTION OF BOOKS 651935 1 122696 149562 863900 49933 1136158 RIGHTS REVENUE 511130 63898 63898 63898 247 247 51600 122696 93792 -42192 -42192 1889039 810137 1078902 1078902 2237013 1142800 0 -41945 107893 73367 15105 19421 540146 360886 89482 89778 13180 8796 2204 2180 64949 43426 10691 10832 46813 31361 7574 7878 14112 9454 2283 2375 5000 5000 62786 57266 1890 3630 69675 30996 38679 118010 95338 8441 14231 10605 10012 290 303 379419 379419 49238 32985 7967 8286 27453 26736 717 13929 7976 402 5551 65068 58943 3002 3123 24169 16192 3909 4068 DISTRIBUTION FEES 461447 461447 PROMOTION EXPENSES 104415 93010 11405 COMPLIMENTARY COPIES 27737 27737 26328 17811 1001 7516 2232372 1843158 192920 196294 653798 804829 100817 101064 353192 208800 191647 584282 483602 438438 25662 34401 299358 246217 118208 53141 296334 309015 2223260 2533970 35349 45604 157751 389242 128728 193051 321828 627897 X 761072 1012904 1040360 793169 100000 100000 1901432 1906073 2223260 2533970 4641 0 X 0 1 X 1 0 X 640774 1690830 1038438 1063148 1136158 5569348 640774 1690830 1038438 1063148 1136158 5569348 1289134 4280214 5562 1787 1218 443 247 9257 5578605 579911 0.76730 0.78980 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 0 1 2436 0 0 0 2436 0 PART II-B, LINE 1: SCHEDULE C, PART II-B, LINE 1F: THE ORGANIZATION PAYS MEMBERSHIP DUES TO TWO ORGANIZATIONS TO LOBBY ON BEHALF OF THE ORGANIZATION. 100817 247 101064 100566 251 100817 101672 1218 2324 100566 103731 767 2826 101672 103367 1364 1000 103731 0.00000 0.98950 0.01050 0 0 85995 82168 3827 73830 66842 6988 139533 97207 42326 53141 ROYALTY ADVANCES 309015 309015 ROYALTY PAYABLE 193051 193051 X 3069407 832394 832394 2237013 0 2237013 3064766 832394 832394 2232372 0 2232372 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. THE ORGANIZATION'S 2011 TO 2013 TAX RETURNS ARE SUBJECT TO REVIEW BY FEDERAL AND STATE AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 810,137. SPECIAL EVENT NON-DIRECT EXPENSES NETTED AGAINST REVENUE 22,257. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 810,137. SPECIAL EVENT NON-DIRECT EXPENSES NETTED AGAINST REVENUE 22,257. MINNEAPOLIS GALA 109537 71337 38200 18400 11168 13801 2665 11313 NEW YORK GALA 64759 51359 13400 5955 16467 3335 10688 174296 122696 51600 18400 17123 30268 6000 22001 93792 -42192 SCHEDULE G, PART II, FUNDRAISING EVENTS GRAYWOLF PRESS CELEBRATED ITS FORTIETH ANNIVERSARY IN 2014 WITH TWO GALA EVENTS. TOGETHER, THE EVENTS BROUGHT IN $174,296 IN GROSS RECEIPTS. NET AGAINST DIRECT CASH EXPENSES OF $53,135, OUR AUDITED FINANCIALS REFLECT SPECIAL EVENT INCOME OF $121,161. X 7 30053 FMV ON DATE OF SALE X DONATED AUCTION ITEMS 10 18400 FMV X DONATED GALA ITEMS 1 1480 FMV 0 0 1 0 PART I, COLUMN (B): THE ORGANIZATION REPORTS THE NUMBER OF CONTRIBUTED ITEMS 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 11 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. BEFORE BOARD OR COMMITTEE ACTION ON A CONTRACT OR TRANSACTION INVOLVING A CONFLICT OF INTEREST, A DIRECTOR OR COMMITTEE MEMBER HAVING A CONFLICT OF INTEREST AND WHO IS IN ATTENDANCE AT THE MEETING SHALL DISCLOSE ALL FACTS MATERIAL TO THE CONFLICT OF INTEREST. SUCH DISCLOSURE IS DOCUMENTED IN THE MINUTES OF THE MEETING. A PERSON WHO HAS A CONFLICT OF INTEREST SHALL NOT PARTICIPATE IN OR BE PERMITTED TO HEAR THE BOARD'S OR COMMITTEE'S DISCUSSION AND DETERMINATION OF THE MATTER EXCEPT TO DISCLOSE MATERIAL FACTS AND TO RESPOND TO QUESTIONS. SUCH PERSON SHALL NOT ATTEMPT TO EXERT HIS OR HER PERSONAL INFLUENCE WITH RESPECT TO THE MATTER, EITHER AT OR OUTSIDE THE MEETING. A PERSON WHO HAS A CONFLICT OF INTEREST WITH RESPECT TO A CONTRACTOR OR TRANSACTION THAT WILL BE VOTED ON AT A MEETING SHALL NOT BE COUNTED IN DETERMINING THE PRESENCE OF A QUORUM FOR PURPOSES OF THE VOTE. THE PERSON HAVING A CONFLICT OF INTEREST MAY NOT VOTE ON THE CONTRACT OR TRANSACTION AND SHALL NOT BE PRESENT IN THE MEETING ROOM WHEN THE VOTE IS TAKEN, UNLESS THE VOTE IS BY SECRET BALLOT. SUCH PERSON'S INELIGIBILITY TO VOTE IS DOCUMENTED IN THE MINUTES OF THE MEETING. RESPONSIBLE PERSONS WHO ARE NOT MEMBERS OF THE BOARD OF DIRECTORS OF THE ORGANIZATION, OR WHO HAVE A CONFLICT OF INTEREST WITH RESPECT TO A CONTRACT OR TRANSACTION THAT IS NOT THE SUBJECT OF BOARD OR COMMITTEE ACTION, SHALL DISCLOSE TO THE CHIEF EXECUTIVE OR TO THE BOARD CHAIR OR THE CHAIR'S DESIGNEE, ANY CONFLICT OF INTEREST THAT SUCH RESPONSIBLE PERSON HAS WITH RESPECT TO A CONTRACT OR TRANSACTION. SUCH DISCLOSURE SHALL BE MADE AS SOON AS THE CONFLICT OF INTEREST IS KNOWN TO THE RESPONSIBLE PERSON. THE RESPONSIBLE PERSON SHALL REFRAIN FROM ANY ACTION THAT MAY AFFECT THE ORGANIZATION'S PARTICIPATION IN SUCH CONTRACT OR TRANSACTION. IN THE EVENT IT IS NOT ENTIRELY CLEAR THAT A CONFLICT OF INTEREST EXISTS, THE INDIVIDUAL WITH THE POTENTIAL CONFLICT SHALL DISCLOSE THE CIRCUMSTANCES TO THE CHIEF EXECUTIVE OR BOARD CHAIR OR THE CHAIR'S DESIGNEE, WHO SHALL DETERMINE WHETHER THERE EXISTS A CONFLICT OF INTEREST THAT IS SUBJECT TO THE ORGANIZATION'S CONFLICT OF INTEREST POLICY. 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 IN 2015 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. IN 2013, GUIDELINES WERE 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 2015 BUDGET. THESE GUIDELINES ARE APPLIED IN ALL DETERMINATIONS ABOUT COMPENSATION. 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.