Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jul 1984.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
75 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
24 people listed on the 990; $292K paid to officers and key staff.
Carmen Smith’s $181K as Director/Publisher is at the 79th percentile of top reported officer pay among 3924 $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.
Compensation history total reportable pay by year · 4 named individuals · Part VII
| Name | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Carmen Smith | $180,506 | $168,600 | $168,039 | $68,692 | — | — |
| Fiona McCrae | — | — | — | $68,600 | $139,332 | $147,750 |
| Katie Dublinski | $111,888 | $104,625 | — | — | — | — |
| Katharine Fischbach | — | — | — | $109,874 | — | — |
Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.
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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 15aYes
Programs and updates
Publishes bold writers whose literature reshapes culture.
Questions for Graywolf Press
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Production. In 2025, graywolf published 29 titles featuring the work of 35 authors and translators. We reached about 890,000 readers with just over 700 titles in print. Graywolf works to keep our books in print as long as possible, our books are released simultaneously in print and ebook editions, and our books are available in…
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 260 virtual and in-person events in 2025.
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 25 new manuscripts in 2025.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2025 990, line by line.
Download 990
| Line | Start FY25 | End FY25 |
|---|---|---|
| Cash and savingsLn 1–2 | $449K | $862K |
| InvestmentsLn 11–13 | $1.6M | $1.0M |
| Land, buildings, equipmentLn 10c | $285K | $241K |
| Total assetsLn 16 | $5.1M | $4.1M |
| LiabilitiesLn 26 | $1.1M | $810K |
| Net assetsLn 32 | $4.0M | $3.3M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic individualsLn 2 | $2K | $2K | ||
| Pay of current officers, directors and key staffLn 5 | $343K | $172K | $51K | $120K |
| Other salaries and wagesLn 7 | $1.2M | $791K | $273K | $117K |
| Pension plan contributionsLn 8 | $53K | $41K | $9K | $3K |
| Other employee benefitsLn 9 | $182K | $115K | $45K | $22K |
| Payroll taxesLn 10 | $112K | $71K | $24K | $17K |
| Legal feesLn 11b | $788 | $788 | ||
| Accounting feesLn 11c | $72K | $72K | ||
| Other fees for servicesLn 11g | $159K | $100K | $46K | $12K |
| Advertising and promotionLn 12 | $32K | $26K | $6K | |
| Office expensesLn 13 | $119K | $69K | $25K | $25K |
| Information technologyLn 14 | $85K | $62K | $8K | $14K |
| RoyaltiesLn 15 | $689K | $689K | ||
| OccupancyLn 16 | $111K | $71K | $24K | $17K |
| TravelLn 17 | $60K | $40K | $124 | $19K |
| Conferences, conventions and meetingsLn 19 | $57K | $42K | $1K | $14K |
| Depreciation, depletion and amortizationLn 22 | $44K | $28K | $10K | $7K |
| InsuranceLn 23 | $42K | $42K | ||
| Other expenses (24a–d)Ln 24 | $765K | $756K | $9K | |
| All other expensesLn 24e | $18K | $16K | $2K | |
| Total functional expensesLn 25 | $4.1M | $3.1M | $632K | $404K |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest Viewing | $3.3M | $4.1M | −$795K | $3.3M | 990 PDF |
| FY2024 | $3.9M | $4.5M | −$564K | $4.0M | 990 PDF |
| FY2023 | $3.3M | $3.8M | −$483K | $4.4M | 990 PDF |
| FY2022 | $3.4M | $4.1M | −$702K | $4.8M | 990 PDF |
| FY2021 | $4.2M | $4.2M | $20K | $5.7M | 990 PDF |
| FY2020 | $4.8M | $4.5M | $334K | $5.5M | 990 PDF |
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Schedules filed Part IV
See the full FY2025 990 (6 parts)
Part I · Summary $3,332,156 revenue, 12 lines filed
Part VI · Governance 21 of 21 board members independent, no flags
Part VIII · Statement of revenue $3,332,156 across 10 lines filed
Part IX · Statement of functional expenses $4,127,404 across 20 lines filed
Part X · Balance sheet $4,076,497 assets, 18 lines filed
Part XI · Reconciliation of net assets $3,266,996 net assets at year end
Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File
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