Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jan 1999.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
92 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
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Who runs it and what they're paid
11 people listed on the 990.
Joe Skifter’s $39K as General Manager (left August 2020) is at the 3rd percentile of top reported officer pay among 3925 $1–10M arts & culture nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.
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Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2No
- Top official's pay set by an independent reviewPt VI · Ln 15aNo
Programs and updates
Supports literary arts by housing three leading organizations.
Questions for Open Book
Your first name shows with your question. Open Book answers here, for everyone.
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Open book is a minnesota nonprofit organization formed on august 21, 1998. The organization owns and operates the building for three other nonprofit entities: milkweed editions, inc., the loft literary center, inc., and minnesota center for book arts for the purpose of enhancing and promoting literary and visual arts to the greater…
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2021 990, line by line.
Download 990
| Line | Start FY21 | End FY21 |
|---|---|---|
| Cash and savingsLn 1–2 | $350K | $387K |
| InvestmentsLn 11–13 | $1.0M | $993K |
| Land, buildings, equipmentLn 10c | $3.1M | $3.0M |
| Total assetsLn 16 | $4.5M | $4.4M |
| LiabilitiesLn 26 | $76K | $73K |
| Net assetsLn 32 | $4.4M | $4.3M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Management feesLn 11a | $46K | $32K | $14K | |
| Legal feesLn 11b | $101 | $101 | ||
| Accounting feesLn 11c | $16K | $16K | ||
| Investment management feesLn 11f | $15K | $15K | ||
| Other fees for servicesLn 11g | $818 | $818 | ||
| Office expensesLn 13 | $26K | $26K | $587 | |
| OccupancyLn 16 | $194K | $194K | ||
| Depreciation, depletion and amortizationLn 22 | $228K | $228K | ||
| InsuranceLn 23 | $24K | $24K | ||
| Other expenses (24a–d)Ln 24 | $2K | $2K | $247 | |
| Total functional expensesLn 25 | $553K | $506K | $47K | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 Latest | $1.4M | $1.1M | $243K | $3.7M | 990 PDF |
| FY2023 | $737K | $1.1M | −$337K | $3.4M | 990 PDF |
| FY2022 | $449K | $761K | −$312K | $3.8M | 990 PDF |
| FY2021 Viewing | $387K | $553K | −$166K | $4.3M | 990 PDF |
| FY2020 | $439K | $618K | −$179K | $4.4M | 990 PDF |
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Schedules filed Part IV
See the full FY2021 990 (6 parts)
Part I · Summary $386,668 revenue, 12 lines filed
Part VI · Governance 10 of 10 board members independent, 1 to look at
Part VIII · Statement of revenue $386,668 across 9 lines filed
Part IX · Statement of functional expenses $552,834 across 10 lines filed
Part X · Balance sheet $4,393,030 assets, 14 lines filed
Part XI · Reconciliation of net assets $4,319,755 net assets at year end
Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File
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