MILKWEED EDITIONS INC

EIN: 411365177 501(c)(3) Arts, Culture & Humanities

MINNEAPOLIS, MN

Total Revenue
$4,783,456
Total Expenses
$4,417,366
Total Assets
$8,255,856
Net Assets
$7,010,629
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Financial Trends

Organization Details

Formation Year
1979
Legal Domicile
MN
Principal Officer
DANIEL SLAGER
Phone
6123323192
Tax Period
2024-01-01 to 2024-12-31

MILKWEED EDITIONS INC, founded in 1979, is a community nonprofit in the Arts, Culture & Humanities sector that reported $4.8M in total revenue in fiscal year 2024. Expenses of $4.4M left a modest 8% surplus.

Mission

TO IDENTIFY, NURTURE AND PUBLISH TRANSFORMATIVE LITERATURE, AND BUILD AN ENGAGED COMMUNITY AROUND IT.

Program Service Accomplishments

Program 1
Expenses: $1,978,412 Revenue: $3,368,446

BOOK PRODUCTION, DISTRIBUTION, AND PROMOTION:FOUNDED IN MINNEAPOLIS IN 1980, MILKWEED EDITIONS IS ONE OF THE NATION'S LEADING INDEPENDENT PUBLISHERS OF LITERATURE. WE CURRENTLY PUBLISH SOME THIRTY...

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BOOK PRODUCTION, DISTRIBUTION, AND PROMOTION:FOUNDED IN MINNEAPOLIS IN 1980, MILKWEED EDITIONS IS ONE OF THE NATION'S LEADING INDEPENDENT PUBLISHERS OF LITERATURE. WE CURRENTLY PUBLISH SOME THIRTY TITLES EACH YEAR IN THE CATEGORIES OF POETRY, FICTION, AND NONFICTION, AND OUR LIST IS ACCLAIMED FOR ITS DISTINCTION AND VARIETY. WE RELEASE EVERY TITLE SIMULTANEOUSLY IN PRINT AND EBOOK EDITIONS, WE ENHANCE THE PUBLICATION OF ALL TITLES WITH ORIGINAL DIGITAL CONTENT, WE LICENSE PUBLICATION OF MANY TITLES WE ORIGINATE TO FOREIGN AND AUDIOBOOK PUBLISHERS, AND, SINCE 2018, WE PUBLISH SOME OF OUR TITLES AS AUDIOBOOKS. WE CURRENTLY HAVE MORE THAN FOUR HUNDRED TITLES IN PRINT, NEARLY TWO HUNDRED TITLES AVAILABLE AS EBOOKS, AND NEARLY FIVE MILLION COPIES OF BOOKS WE PUBLISHED ORIGINALLY IN CIRCULATION AROUND THE WORLD.

Program 2
Expenses: $963,307

OUTREACH: - GENERAL -MILKWEED IS MOTIVATED BY THE FACT THAT LITERATURE IS FUNDAMENTALLY TRANSFORMATIVE. EVERY YEAR WE SELL HUNDREDS OF THOUSANDS OF BOOKS, MANY OF OUR AUTHORS AND TITLES RECEIVE...

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OUTREACH: - GENERAL -MILKWEED IS MOTIVATED BY THE FACT THAT LITERATURE IS FUNDAMENTALLY TRANSFORMATIVE. EVERY YEAR WE SELL HUNDREDS OF THOUSANDS OF BOOKS, MANY OF OUR AUTHORS AND TITLES RECEIVE AWARDS, AND MOST TITLES RECEIVE GLOWING REVIEWS AND RECOMMENDATIONS IN A WIDE RANGE OF MEDIA. THESE ARE SOME OF THE WAYS WE MEASURE SUCCESS, BUT IN ADDITION TO OUR PUBLISHING PROGRAM, WE ACTIVELY SEEK TO BUILD COMMUNITY AROUND LITERATURE AND TO SERVE AN EXPANDING, INCREASINGLY DIVERSE CONSTITUENCY OF WRITERS AND READERS. WE SERVE WRITERS BY PROVIDING FINANCIAL AND EDITORIAL SUPPORT AND BY BUILDING A BROAD AUDIENCE FOR THEIR WORK. WE SERVE READERS BY CONNECTING THEM TO THE AUTHORS AND BOOKS WE PUBLISH. - REACHING READERS -OUR GOAL TO BUILD COMMUNITY IS ULTIMATELY ACHIEVED BY SHARING OUR WORK WITH THE WIDEST RANGE OF PARTICIPANTS AND COMMUNICATING WHY IT IS RELEVANT AND HOW IT CAN BE TRANSFORMATIVE IN THEIR LIVES. WE WORK TO MAKE OUR BOOKS AVAILABLE IN A VARIETY OF FORMATS PRINT, EBOOK, AND INCREASINGLY AUDIOBOOK; WE HAVE A VARIETY OF DISTRIBUTION PARTNERS TO HELP BOOKS REACH AS MANY MARKETS AS POSSIBLE; WE ALSO CULTIVATE STRONG RELATIONSHIPS WITH LIBRARIANS, ENSURING THAT MANY READERS BORROW OUR BOOKS; AND EACH YEAR WE DONATE SEVERAL THOUSAND BOOKS. - OPEN BOOK - AS ONE OF THREE FOUNDING TENANTS OF OPEN BOOK, THE NATION'S LARGEST LITERARY CENTER LOCATED IN DOWNTOWN MINNEAPOLIS, WE ACTIVELY SEEK TO BUILD COMMUNITY AROUND LITERATURE. IN THE YEARS SINCE ITS FOUNDING IN 2000, OPEN BOOK IS NOW A NATIONAL SUCCESS STORY. THE CENTER ATTRACTS MORE THAN 175,000 VISITORS ANNUALLY, AND WE STRENGTHENED OUR COMMITMENT TO THIS REMARKABLE INSTITUTION BY OPENING A STREET-LEVEL BOOKSTORE IN THE BUILDING IN LATE 2016. MILKWEED BOOKS SERVES AS A VIBRANT COMMUNITY SPACE, A SITE WHERE READERS DISCOVER AND INTERACT WITH WRITERS, MANY OF WHOM ARE PUBLISHED BY OTHER ORGANIZATIONS IN OUR FIELD. - FELLOWSHIP PROGRAM -THE MILKWEED FELLOWSHIP PROGRAM, LAUNCHED IN 2019, IS GROUNDED IN THE BELIEF THAT BOOKS HAVE THE POTENTIAL TO CHANGE THE WAY WE SEE THE WORLD, AND THAT EQUITY IS ESSENTIAL TO A VIBRANT, DIVERSE, AND EMPOWERED LITERARY ECOSYSTEM. THIS PAID, ONE- TO TWO-YEAR IMMERSION PROGRAM IS DESIGNED TO OFFER THE TOOLS, EXPERIENCE, AND EXPOSURE NECESSARY TO PURSUE A CAREER IN BOOK PUBLISHING. INTENDED TO PROVIDE AN ALTERNATIVE ROUTE TO SUCCESS IN AN INDUSTRY WHERE THE PREREQUISITE TO AN ENTRY LEVEL POSITION IS TYPICALLY AN UNPAID INTERNSHIP, THIS LEARNING-ORIENTED POSITION SEEKS TO PROVIDE ENTRY TO THOSE HISTORICALLY UNDERREPRESENTED AMONG WORKERS IN BOOK PUBLISHING - INDIGENOUS, PEOPLE OF COLOR, LGBTQIA+, AND THOSE WITH DISABILITIES SO THEY MAY ADVANCE, DISCOVER, AND CHAMPION TRANSFORMATIVE LITERATURE FOR YEARS TO COME.

Program 3
Expenses: $574,840

EDITORIAL:WE MEASURE THE SUCCESS OF OUR PUBLISHING PROGRAM, HOW WELL WE ACHIEVE OUR MISSION, IN MANY WAYS, INCLUDING BOOK SALES THROUGH OUR DISTRIBUTOR, OUR WEBSITE, AND OUR BOOKSTORE. IN 2024...

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EDITORIAL:WE MEASURE THE SUCCESS OF OUR PUBLISHING PROGRAM, HOW WELL WE ACHIEVE OUR MISSION, IN MANY WAYS, INCLUDING BOOK SALES THROUGH OUR DISTRIBUTOR, OUR WEBSITE, AND OUR BOOKSTORE. IN 2024, REVENUE GENERATED BY SALES OF OUR BOOKS GROSSED MORE THAN $5 MILLION. WE ALSO FACTOR IN AWARDS, REVIEWS, AND OTHER MEDIA ATTENTION GARNERED BY OUR TITLES, AUTHORS, AND ORGANIZATION. OUR BOOKS SAW REVIEWS AND MEDIA MENTIONS IN OUTLETS RANGING FROM THE NEW YORK TIMES, THE WALL STREET JOURNAL, THE GUARDIAN, AND THE NEW YORKER AND RECENT TITLES WERE FINALISTS FOR THE PULITZER PRIZE, THE NATIONAL BOOK AWARD, THE NATIONAL BOOK CRITICS CIRCLE AWARD, PEN/JEAN STEIN BOOK AWARD, THE L.A. TIMES BOOK PRIZE, AND THE MINNESOTA BOOK AWARD, AMONG NUMEROUS OTHER AWARDS AND PRIZES.

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $1,137,142
Program Service Revenue $161,403
Investment Income $307,685
Other Revenue $3,177,226
TOTAL REVENUE $4,783,456

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,577,552
Fundraising Expenses $433,107
Program Expenses $3,516,559
Other Expenses $2,839,814
TOTAL EXPENSES $4,417,366

Year-over-Year Comparison

2024 2023 Change
Revenue $4,783,456 $4,600,767 +0.0%
Expenses $4,417,366 $4,639,785 0.0%
Net Income $366,090 $-39,018 -10.4%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
24
Independent Members
23
Employees
24
Volunteers
24

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
6
$225,809
Total Directors
26
$225,809
Key Employees
0
$0
Highest Compensated
3
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DANIEL SLAGER PUBLISHER AND CEO 40.00
Officer Director
$218,173 $7,636 $225,809
NIMA DESAI VICE CHAIR 1.00
Officer Director
$0 $0 $0
LYNN ABRAHAMSEN PAST CHAIR 1.00
Officer Director
$0 $0 $0
SHEILA LETSCHER CHAIR 1.00
Officer Director
$0 $0 $0
JACK DEMPSEY BOARD MEMBER 1.00
Director
$0 $0 $0
PAMELA FLETCHER BUSH BOARD MEMBER 1.00
Director
$0 $0 $0
NED HANCOCK BOARD MEMBER 1.00
Director
$0 $0 $0
SHAWN MONAGHAN BOARD MEMBER 1.00
Director
$0 $0 $0
MARY REYELTS BOARD MEMBER 1.00
Director
$0 $0 $0
NELL SMITH BOARD MEMBER 1.00
Director
$0 $0 $0
STEVE SPENCER TREASURER 1.00
Officer Director
$0 $0 $0
JONATHAN GAW BOARD MEMBER 1.00
Director
$0 $0 $0
LEAH LAMON BOARD MEMBER 1.00
Director
$0 $0 $0
MOLLY SULLIVAN BOARD MEMBER 1.00
Director
$0 $0 $0
DEANNA THOMPSON BOARD MEMBER 1.00
Director
$0 $0 $0
AMY VARGO BOARD MEMBER 1.00
Director
$0 $0 $0
MARNE ZAFAR BOARD MEMBER 1.00
Director
$0 $0 $0
SHELLY GILL MURRAY SECRETARY 1.00
Officer Director
$0 $0 $0
STEPHANIE MATZ BOARD MEMBER 1.00
Director
$0 $0 $0
DEEPINDER MAYELL BOARD MEMBER 1.00
Director
$0 $0 $0
SARAH STOESZ BOARD MEMBER 1.00
Director
$0 $0 $0
PAULITA LAPLANTE BOARD MEMBER 1.00
Director
$0 $0 $0
CHUCK KNAPP BOARD MEMBER 1.00
Director
$0 $0 $0
HEATHER ANFANG BOARD MEMBER 1.00
Director
$0 $0 $0
KEITH BEDNAROWSKI BOARD MEMBER 1.00
Director
$0 $0 $0
EMILY NICOLL BOARD MEMBER 1.00
Director
$0 $0 $0
KATHERINE HILL VICE PRESIDENT OF ENGAGEMENT 40.00
Highest
$110,972 $16,733 $127,705
CRAIG POPELARS VICE PRESIDENT OF MARKETING & SALES 40.00
Highest
$119,231 $0 $119,231
JANE TOWNSEND VICE PRESIDENT, ADVANCEMENT 40.00
Highest
$145,862 $25,301 $171,163
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $4,783,456 $4,417,366 $8,255,856 $366,090
2023 $4,600,767 $4,639,785 $8,001,848 $-39,018
2022 $4,851,055 $4,607,496 $7,640,334 $243,559
2021 $8,155,161 $5,458,410 $7,729,110 $2,696,751
2020 $5,369,812 $3,826,140 $5,141,719 $1,543,672
2019 $2,790,968 $2,659,590 $2,545,430 $131,378
2018 $2,484,153 $2,390,392 $2,282,185 $93,761
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