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.
81¢ of each $1 spent went to programs.
$168K 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

FY2023 · 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
81%
of spending
Looks good: 81% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$168K
to officers and key staff · 4% of spending
Looks good: pay to officers and key staff is 4% of spending; 15% or less.
Pt VII · Sec A
2 mo
of spending, in cash
Plus $2.2M in investments, Pt X · Ln 11–13
Fine: 2.2 months of spending in cash; 1 to 3.
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
$991K
18% of total assets
Looks good: liabilities are 18% of assets; 50% or less.
Pt X · Ln 26
Independent board members
23
of 23 voting members
Looks good: 23 of 23 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$3.3M
-1% vs prior year
Spent
$3.8M
To programs
81%
Net assets
$4.4M
By yearFY2020–FY2025
Revenue
$3.3M
FY2023▼ -1%
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
$3.8M
FY2023▼ -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
$4.4M
FY2023▼ -8%
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 FY2023 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 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

81 cents of each dollar spent went to programs.

Program services 81% · $3.1M Management & general 10% · $378K Fundraising 9% · $345K

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; $168K paid to officers and key staff.

Part VII, Section A · reportable compensation
Director/Publisher
$168,039Pt VII · Sec A
Vice Chair
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$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 · $3.1M · in their own filed words · FY2023
01

Production. In 2023, graywolf published 25 titles featuring the work of 38 authors and translators. We reached about 600,000 readers with our 665 titles in print. Graywolf releases simultaneous print and ebook editions, and our books are available in bookstores across the country as well as online.

$1.3Mprogram 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 approximately 225 virtual and in-person events in 2023.

$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 20 new manuscripts in 2023.

$787Kprogram 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 FY2023 990, line by line.

1The main four
Money inPt VIII
$3.3M
Ln 12
Other incomeLn 4–11$1.8M
Gifts and grantsLn 1h$1.2M
Fees for servicesLn 2g$229K
Money outPt IX
$3.8M
Ln 25
Programscol B$3.1M
Managementcol C$378K
Fundraisingcol D$345K
Owns and owesPt X
$4.4M
net assets · Ln 32
Cash and savingsLn 1–2$706K
Total assetsLn 16$5.4M
LiabilitiesLn 26$991K
PeoplePt VI, VII
24
listed · VII A
PaidVII A1
Voting boardVI 1a23
IndependentVI 1b23
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.2M
Government grantsLn 1e$303K
Noncash giftsLn 1g$27K
Fundraising eventsLn 1c$42K
Fees for servicesLn 2g$229K
Investment incomeLn 3$74K
Other incomeLn 4–11$1.8M
Gains on assetsLn 7−$248
Total revenueLn 12$3.3M
Assets in detailPt X, end of year
CashLn 1$383K
SavingsLn 2$323K
Cash and savings togetherLn 1–2$706K
InvestmentsLn 11–13$2.2M
Land, buildings, equipmentLn 10c$320K
Other assetsLn 15$771K
Total assetsLn 16$5.4M
LiabilitiesLn 26$991K
Net assetsLn 32$4.4M
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 FY23End FY23
Cash and savingsLn 1–2$1.3M$706K
InvestmentsLn 11–13$1.9M$2.2M
Land, buildings, equipmentLn 10c$368K$320K
Total assetsLn 16$6.1M$5.4M
LiabilitiesLn 26$1.3M$991K
Net assetsLn 32$4.8M$4.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$2K$2K
Pay of current officers, directors and key staffLn 5$187K$94K$28K$66K
Other salaries and wagesLn 7$1.2M$955K$126K$127K
Pension plan contributionsLn 8$55K$42K$6K$7K
Other employee benefitsLn 9$204K$159K$22K$23K
Payroll taxesLn 10$101K$76K$11K$14K
Legal feesLn 11b$7K$7K
Accounting feesLn 11c$58K$58K
Other fees for servicesLn 11g$71K$31K$34K$5K
Advertising and promotionLn 12$65K$65K$552
Office expensesLn 13$93K$54K$15K$24K
Information technologyLn 14$86K$71K$5K$11K
RoyaltiesLn 15$630K$630K
OccupancyLn 16$98K$75K$10K$13K
TravelLn 17$51K$39K$151$12K
Conferences, conventions and meetingsLn 19$65K$48K$2K$15K
Depreciation, depletion and amortizationLn 22$49K$33K$10K$6K
InsuranceLn 23$40K$40K
Other expenses (24a–d)Ln 24$729K$712K$4K$14K
All other expensesLn 24e$20K$11K$9K
Total functional expensesLn 25$3.8M$3.1M$378K$345K

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 Viewing $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

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support M · Noncash J · Pay O · Explanations
See the full FY2023 990 (6 parts)
Part I · Summary $3,336,246 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $895,625$1,198,128
I-9 Program service revenuePrior year $255,129$228,694
I-10 Investment incomePrior year $40,247$74,362
I-11 Other revenuePrior year $2,185,813$1,835,062
I-12 Total revenuePrior year $3,376,814$3,336,246
I-13 Grants and similar amounts paidPrior year $4,654$2,100
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $1,735,959$1,755,314
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $2,338,488$2,062,271
I-18 Total expensesPrior year $4,079,101$3,819,685
I-19 Revenue less expensesPrior year −$702,287−$483,439
Part VI · Governance 23 of 23 board members independent, no flags
VI-1a Voting members of the governing body23
VI-1b Independent voting members23
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 $3,336,246 across 10 lines filed
Lines not itemized here account for $1,849,026 of total revenue; see the IRS return.
VIII-1c Fundraising events$42,089
VIII-1e Government grants$302,576
VIII-1f All other contributions, gifts and grants$853,463
VIII-1g Noncash contributions (included above)$26,833
VIII-1h Total contributions, gifts and grants$1,198,128
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $228,694$228,694
VIII-3 Investment incomeExcluded from tax $74,610$74,610
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$248−$248
VIII-8 Net income from fundraising eventsExcluded from tax −$13,964−$13,964
VIII-12 Total revenueRelated to mission $2,077,720 · Unrelated business $0 · Excluded from tax $60,398$3,336,246
Part IX · Statement of functional expenses $3,819,685 across 20 lines filed
IX-2 Grants to domestic individualsPrograms $2,100$2,100
IX-5 Pay of current officers, directors and key staffPrograms $93,672 · Management $28,101 · Fundraising $65,570$187,343
IX-7 Other salaries and wagesPrograms $955,257 · Management $126,213 · Fundraising $127,017$1,208,487
IX-8 Pension plan contributionsPrograms $41,668 · Management $6,071 · Fundraising $7,451$55,190
IX-9 Other employee benefitsPrograms $158,772 · Management $21,653 · Fundraising $23,355$203,780
IX-10 Payroll taxesPrograms $75,888 · Management $11,057 · Fundraising $13,569$100,514
IX-11b Legal feesManagement $6,975$6,975
IX-11c Accounting feesManagement $58,030$58,030
IX-11g Other fees for servicesPrograms $31,182 · Management $33,849 · Fundraising $5,471$70,502
IX-12 Advertising and promotionPrograms $64,530 · Fundraising $552$65,082
IX-13 Office expensesPrograms $53,768 · Management $15,331 · Fundraising $23,910$93,009
IX-14 Information technologyPrograms $70,979 · Management $4,661 · Fundraising $10,672$86,312
IX-15 RoyaltiesPrograms $630,206$630,206
IX-16 OccupancyPrograms $75,172 · Management $10,448 · Fundraising $12,822$98,442
IX-17 TravelPrograms $39,309 · Management $151 · Fundraising $12,022$51,482
IX-19 Conferences, conventions and meetingsPrograms $48,434 · Management $1,736 · Fundraising $14,592$64,762
IX-22 Depreciation, depletion and amortizationPrograms $32,584 · Management $9,741 · Fundraising $6,330$48,655
IX-23 InsuranceManagement $39,702$39,702
IX-24 Other expenses (24a–d)Programs $712,063 · Management $3,846 · Fundraising $13,577$729,486
IX-24e All other expensesPrograms $11,063 · Fundraising $8,563$19,626
IX-25 Total functional expensesPrograms $3,096,647 · Management $377,565 · Fundraising $345,473$3,819,685
Part X · Balance sheet $5,387,843 assets, 18 lines filed
X-1 Cash, non-interest-bearingStart of year $1,280,356$382,709
X-2 Savings and temporary cash investments$322,911
X-3 Pledges and grants receivableStart of year $198,792$267,781
X-4 Accounts receivableStart of year $726,364$469,861
X-8 Inventories for sale or useStart of year $728,611$642,164
X-9 Prepaid expenses and deferred chargesStart of year $51,780$50,121
X-10c Land, buildings and equipment, netStart of year $368,472$319,817
X-11 Publicly traded securitiesStart of year $1,882,149$2,161,379
X-15 Other assetsStart of year $866,306$771,100
X-16 Total assetsStart of year $6,102,830$5,387,843
X-17 Accounts payable and accrued expensesStart of year $153,358$38,163
X-19 Deferred revenueStart of year $189,435$160,663
X-25 Other liabilitiesStart of year $991,850$791,721
X-26 Total liabilitiesStart of year $1,334,643$990,547
X-27 Net assets without donor restrictionsStart of year $4,403,905$3,855,270
X-28 Net assets with donor restrictionsStart of year $364,282$542,026
X-32 Total net assets or fund balancesStart of year $4,768,187$4,397,296
X-33 Total liabilities and net assetsStart of year $6,102,830$5,387,843
Part XI · Reconciliation of net assets $4,397,296 net assets at year end
XI-1 Total revenue$3,336,246
XI-2 Total expenses$3,819,685
XI-3 Revenue less expenses−$483,439
XI-4 Net assets at start of year$4,768,187
XI-5 Net unrealized gains (losses) on investments$112,548
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$4,397,296

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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