Graywolf Press publishes risk-taking, visionary writers who transform culture through literature. When writers are free to DO their most ambitious work, their books serve as portals to new possibilities and enable deeper understanding between people. Readers are changed by graywolf's books, which are fearlessly acquired, attentively edited, and energetically promoted.

501(c)(3) charity; gifts are tax-deductible.
84¢ of each $1 spent went to programs.
$139K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 6
filings with a surplus
Average deficit $365K a year · 10% of revenue · last 6 filings
Concern: a surplus in 2 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
84%
of spending
Looks good: 84% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$139K
to officers and key staff · 3% of spending
Looks good: pay to officers and key staff is 3% of spending; 15% or less.
Pt VII · Sec A
6 mo
of spending, in cash
Plus $2.1M in investments, Pt X · Ln 11–13
Looks good: 5.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $5K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$794K
12% of total assets
Looks good: liabilities are 12% of assets; 50% or less.
Pt X · Ln 26
Independent board members
21
of 21 voting members
Looks good: 21 of 21 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$4.2M
-12% vs prior year
Spent
$4.2M
To programs
84%
Net assets
$5.7M
By yearFY2020–FY2025
Revenue
$4.2M
FY2021▼ -12%
Tap a bar for its year
Revenue by fiscal year
FY2020$4.8M
FY2021$4.2M
FY2022$3.4M
FY2023$3.3M
FY2024$3.9M
FY2025$3.3M
Expenses
$4.2M
FY2021▼ -6%
Tap a bar for its year
Expenses by fiscal year
FY2020$4.5M
FY2021$4.2M
FY2022$4.1M
FY2023$3.8M
FY2024$4.5M
FY2025$4.1M
Net assets
$5.7M
FY2021▲ +3%
Tap a bar for its year
Net assets by fiscal year
FY2020$5.5M
FY2021$5.7M
FY2022$4.8M
FY2023$4.4M
FY2024$4.0M
FY2025$3.3M

From the FY2021 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2025) →

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

84 cents of each dollar spent went to programs.

Program services 84% · $3.6M Management & general 8% · $320K Fundraising 8% · $341K

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

22 people listed on the 990; $139K paid to officers and key staff.

Part VII, Section A · reportable compensation
Executive Director
$139,332Pt VII · Sec A
Vice Chair
$0Pt VII · Sec A
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A

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

NameFY2025FY2024FY2023FY2022FY2021FY2020
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.

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3 programs · $3.6M · in their own filed words · FY2021
01

Production. In 2021, graywolf published 33 titles featuring the work of 37 authors and translators. We reached about 675,000 readers with our 600 titles in print. Graywolf releases simultaneous print and ebook editions, and our books are available in bookstores across the country as well as online.

$1.7Mprogram expense
02

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 over 200 virtual and in-person events in 2021.

$1.0Mprogram expense
03

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 23 new manuscripts in 2021.

$785Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2025
Total grants receivedfrom 1 funder$5K
Grants paid · 8 grants · $28K · 2020–2020

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$4.2M
Ln 12
Other incomeLn 4–11$2.6M
Gifts and grantsLn 1h$1.3M
Fees for servicesLn 2g$300K
Money outPt IX
$4.2M
Ln 25
Programscol B$3.6M
Managementcol C$320K
Fundraisingcol D$341K
Owns and owesPt X
$5.7M
net assets · Ln 32
Cash and savingsLn 1–2$1.9M
Total assetsLn 16$6.5M
LiabilitiesLn 26$794K
PeoplePt VI, VII
22
listed · VII A
PaidVII A1
Voting boardVI 1a21
IndependentVI 1b21
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.3M
Government grantsLn 1e$244K
Noncash giftsLn 1g$49K
Fees for servicesLn 2g$300K
Investment incomeLn 3$34K
Other incomeLn 4–11$2.6M
Gains on assetsLn 7$6K
Total revenueLn 12$4.2M
Assets in detailPt X, end of year
CashLn 1$1.9M
Cash and savings togetherLn 1–2$1.9M
InvestmentsLn 11–13$2.1M
Land, buildings, equipmentLn 10c$115K
Other assetsLn 15$507K
Total assetsLn 16$6.5M
LiabilitiesLn 26$794K
Net assetsLn 32$5.7M
OperationsPt I, VI
EmployeesI 520
VolunteersI 621
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$3.6M$1.9M
InvestmentsLn 11–13$2.1M
Land, buildings, equipmentLn 10c$50K$115K
Total assetsLn 16$6.5M$6.5M
LiabilitiesLn 26$1.0M$794K
Net assetsLn 32$5.5M$5.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$7K$7K
Pay of current officers, directors and key staffLn 5$185K$107K$33K$44K
Other salaries and wagesLn 7$1.1M$903K$101K$118K
Pension plan contributionsLn 8$49K$40K$4K$5K
Other employee benefitsLn 9$163K$135K$13K$15K
Payroll taxesLn 10$92K$72K$9K$11K
Accounting feesLn 11c$42K$42K
Other fees for servicesLn 11g$235K$119K$41K$75K
Advertising and promotionLn 12$84K$84K
Office expensesLn 13$109K$74K$15K$20K
Information technologyLn 14$71K$57K$3K$12K
RoyaltiesLn 15$1.0M$1.0M
OccupancyLn 16$72K$56K$7K$9K
TravelLn 17$1K$1K
Conferences, conventions and meetingsLn 19$31K$24K$2K$5K
Depreciation, depletion and amortizationLn 22$28K$21K$4K$3K
InsuranceLn 23$42K$42K
Other expenses (24a–d)Ln 24$877K$851K$3K$24K
Total functional expensesLn 25$4.2M$3.6M$320K$341K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $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 Viewing $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

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support M · Noncash O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $4,234,529 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,319,101$1,316,718
I-9 Program service revenuePrior year $219,107$299,846
I-10 Investment incomePrior year $21,589$33,678
I-11 Other revenuePrior year $3,239,306$2,584,287
I-12 Total revenuePrior year $4,799,103$4,234,529
I-13 Grants and similar amounts paidPrior year $27,750$6,850
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $1,502,424$1,611,525
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $2,935,098$2,596,327
I-18 Total expensesPrior year $4,465,272$4,214,702
I-19 Revenue less expensesPrior year $333,831$19,827
Part VI · Governance 21 of 21 board members independent, no flags
VI-1a Voting members of the governing body21
VI-1b Independent voting members21
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $4,234,529 across 8 lines filed
Lines not itemized here account for $2,584,287 of total revenue; see the IRS return.
VIII-1e Government grants$243,764
VIII-1f All other contributions, gifts and grants$1,072,954
VIII-1g Noncash contributions (included above)$49,378
VIII-1h Total contributions, gifts and grants$1,316,718
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $299,846$299,846
VIII-3 Investment incomeExcluded from tax $27,435$27,435
VIII-7 Net gain or loss on sales of assetsRelated to mission $6,243$6,243
VIII-12 Total revenueRelated to mission $2,890,376 · Unrelated business $0 · Excluded from tax $27,435$4,234,529
Part IX · Statement of functional expenses $4,214,702 across 18 lines filed
IX-1 Grants to domestic organizationsPrograms $6,850$6,850
IX-5 Pay of current officers, directors and key staffPrograms $107,408 · Management $33,334 · Fundraising $44,445$185,187
IX-7 Other salaries and wagesPrograms $903,438 · Management $101,106 · Fundraising $117,983$1,122,527
IX-8 Pension plan contributionsPrograms $39,874 · Management $4,293 · Fundraising $4,966$49,133
IX-9 Other employee benefitsPrograms $134,561 · Management $13,226 · Fundraising $14,957$162,744
IX-10 Payroll taxesPrograms $71,709 · Management $9,193 · Fundraising $11,032$91,934
IX-11c Accounting feesManagement $42,089$42,089
IX-11g Other fees for servicesPrograms $118,970 · Management $41,187 · Fundraising $75,047$235,204
IX-12 Advertising and promotionPrograms $84,243$84,243
IX-13 Office expensesPrograms $73,772 · Management $15,125 · Fundraising $20,266$109,163
IX-14 Information technologyPrograms $56,641 · Management $2,805 · Fundraising $11,542$70,988
IX-15 RoyaltiesPrograms $1,003,411$1,003,411
IX-16 OccupancyPrograms $56,013 · Management $7,181 · Fundraising $8,617$71,811
IX-17 TravelPrograms $1,190$1,190
IX-19 Conferences, conventions and meetingsPrograms $24,446 · Management $1,943 · Fundraising $4,960$31,349
IX-22 Depreciation, depletion and amortizationPrograms $20,585 · Management $3,784 · Fundraising $3,167$27,536
IX-23 InsuranceManagement $42,060$42,060
IX-24 Other expenses (24a–d)Programs $850,596 · Management $2,839 · Fundraising $23,848$877,283
IX-25 Total functional expensesPrograms $3,553,707 · Management $320,165 · Fundraising $340,830$4,214,702
Part X · Balance sheet $6,471,480 assets, 17 lines filed
X-1 Cash, non-interest-bearingStart of year $3,553,437$1,939,464
X-3 Pledges and grants receivableStart of year $823,833$445,965
X-4 Accounts receivableStart of year $886,035$708,410
X-8 Inventories for sale or useStart of year $514,584$600,709
X-9 Prepaid expenses and deferred chargesStart of year $53,255$100,244
X-10c Land, buildings and equipment, netStart of year $49,772$115,130
X-11 Publicly traded securities$2,054,723
X-15 Other assetsStart of year $629,784$506,835
X-16 Total assetsStart of year $6,510,700$6,471,480
X-17 Accounts payable and accrued expensesStart of year $107,906$141,063
X-19 Deferred revenueStart of year $426,581$259,626
X-25 Other liabilitiesStart of year $477,499$393,080
X-26 Total liabilitiesStart of year $1,011,986$793,769
X-27 Net assets without donor restrictionsStart of year $4,581,138$5,006,731
X-28 Net assets with donor restrictionsStart of year $917,576$670,980
X-32 Total net assets or fund balancesStart of year $5,498,714$5,677,711
X-33 Total liabilities and net assetsStart of year $6,510,700$6,471,480
Part XI · Reconciliation of net assets $5,677,711 net assets at year end
XI-1 Total revenue$4,234,529
XI-2 Total expenses$4,214,702
XI-3 Revenue less expenses$19,827
XI-4 Net assets at start of year$5,498,714
XI-5 Net unrealized gains (losses) on investments$28,769
XI-8 Prior period adjustments$130,401
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$5,677,711

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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