2024-08-01T16:23:03-05:00 2023-12-31 410746749 CLIFTONLARSONALLEN LLP 220 S 6TH STREET SUITE 300 MINNEAPOLIS MN 55402 990 2023-01-01 411365177 MILKWEED EDITIONS INC MILK 6123323192 1011 WASHINGTON AVENUE SOUTH 300 MINNEAPOLIS MN 554151246 DANIEL SLAGER PUBLISHER AND CEO 6123323192 2024-08-01 1 0 RACHEL FLANDERS P01591790 6123764500 2024-07-30 2023 2024-08-08 14:25:15Z DANIEL SLAGER 1011 WASHINGTON AVENUE SOUTH 300 MINNEAPOLIS MN 554151246 7243616 0 X WWW.MILKWEED.ORG X 1979 MN TO IDENTIFY, NURTURE AND PUBLISH TRANSFORMATIVE LITERATURE, AND BUILD AN ENGAGED COMMUNITY AROUND IT. 24 23 18 24 0 0 1132392 1066028 139358 156100 10298 -26693 3569007 3405332 4851055 4600767 0 0 0 0 1301693 1404826 72015 42987 442726 3233788 3191972 4607496 4639785 243559 -39018 7640334 8001848 1386199 1397191 6254135 6604657 X TO IDENTIFY, NURTURE AND PUBLISH TRANSFORMATIVE LITERATURE, AND BUILD AN ENGAGED COMMUNITY AROUND IT. 0 0 2237299 3552185 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 POETRY 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. 1153747 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. THE BUILDING CLOSED TO THE PUBLIC IN EARLY 2020 DUE TO THE COVID-19 PANDEMIC BUT REOPENED IN JUNE OF 2022. - 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. 421558 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 2023, 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. 3812604 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 1 1 0 0 0 0 0 0 1 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 138 0 18 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 24 23 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 MN X X JANE TOWNSEND 6123323192 1011 WASHINGTON AVE S MINNEAPOLIS MN 55415 DANIEL SLAGER PUBLISHER/ CEO 40.00 X X 217500 0 7336 NIMA DESAI SECRETARY 1.00 X X 0 0 0 LYNN ABRAHAMSEN CHAIR 1.00 X X 0 0 0 KEITH BEDNAROWSKI TREASURER 1.00 X X 0 0 0 SHEILA LETSCHER VICE CHAIR 1.00 X X 0 0 0 LAURA JOHNSON BOARD MEMBER 1.00 X 0 0 0 JACK DEMPSEY BOARD MEMBER 1.00 X 0 0 0 PAMELA FLETCHER BUSH BOARD MEMBER 1.00 X 0 0 0 NED HANCOCK BOARD MEMBER 1.00 X 0 0 0 PETER LAIRD BOARD MEMBER 1.00 X 0 0 0 SHAWN MONAGHAN BOARD MEMBER 1.00 X 0 0 0 EMILY NICOLL BOARD MEMBER 1.00 X 0 0 0 MARY REYELTS BOARD MEMBER 1.00 X 0 0 0 NELL SMITH BOARD MEMBER 1.00 X 0 0 0 STEVE SPENCER BOARD MEMBER 1.00 X 0 0 0 JONATHAN GAW BOARD MEMBER 1.00 X 0 0 0 LEAH LAMON BOARD MEMBER 1.00 X 0 0 0 MOLLY SULLIVAN BOARD MEMBER 1.00 X 0 0 0 DEANNA THOMPSON BOARD MEMBER 1.00 X 0 0 0 AMY VARGO BOARD MEMBER 1.00 X 0 0 0 MARNE ZAFAR BOARD MEMBER 1.00 X 0 0 0 SHELLY GILL MURAY BOARD MEMBER 1.00 X 0 0 0 STEPHANIE MATZ BOARD MEMBER 1.00 X 0 0 0 DEEPINDER MAYELL BOARD MEMBER 1.00 X 0 0 0 SARAH STOESZ BOARD MEMBER 1.00 X 0 0 0 KATHERINE HILL VP OF ENGAGEMENT, CHIEF INNOVATION OFFICER 40.00 X 119615 0 0 337115 0 7336 1 0 1 0 INGRAM (PGW) 1 INGRAM BLVD LA VERGE TN 37086 DISTRIBUTES AND STORES INVENTORY 1251422 ROBIN WALL KIMMERER 1 FORESTRY DRIVE SYRACUSE NY 13210 ROYALTY PAYMENT 979161 FRIESENS CORPORATION BOX 556 PEMBINA ND 58271 PRINT PRODUCTION 803386 BOOKMOBILE 210 EDGE PLACE NE MINNEAPOLIS MN 55418 PRINT PRODUCTION 572289 4 147750 50000 868278 1066028 RIGHTS INCOME 513130 156100 156100 156100 68688 68688 922974 1018355 -95381 -95381 -95381 26650 147750 40308 -13658 -13658 4980271 1584186 3396085 3396085 MISCELLANEOUS REVENUE 459210 22905 22905 22905 4600767 3552185 0 -17446 344451 258338 51667 34446 836338 537893 103535 194910 132301 88608 17238 26455 91736 61827 12047 17862 23296 19497 3799 42987 42987 166187 66958 88977 10252 397438 397438 93023 29994 51619 11410 1151256 1151256 62553 42158 8215 12180 45848 44183 497 1168 11832 11832 12926 8712 1697 2517 20709 13957 2720 4032 DISTRIBUTION 965570 965570 DUES AND SUBSCRIPTIONS 36980 15577 20669 734 EQUIPMENT RENTAL AND MA 14880 10029 1954 2897 189474 100609 19821 69044 4639785 3812604 384455 442726 2069689 2394015 1944562 2719304 1011737 516216 1385161 1259131 872118 744166 12966 16696 540992 511324 21895 29668 322206 322652 7640334 8001848 1269904 1164532 116295 232659 1386199 1397191 X 4931151 5796552 1322984 808105 6254135 6604657 7640334 8001848 -39018 405485 -15945 0 X X 0 1 X 1 0 X 604480 1386318 2398000 1158442 918278 6465518 604480 1386318 2398000 1158442 918278 6465518 1537224 4928294 529 3961 16423 -273027 378792 126678 23927 19713 23511 16101 22905 106157 6698353 19956416 0.73570 0.80920 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: RIGHTS INCOME - MISCELLAENOUS REVENUE - 2019 AMOUNT: $ 23,927. 2020 AMOUNT: $ 19,713. 2021 AMOUNT: $ 23,511. 2022 AMOUNT: $ 16,101. 2023 AMOUNT: $ 22,905. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 225000 9886 9886 225000 225000 4837 4837 225000 225000 3867 3867 225000 225000 3961 3961 225000 225000 529 529 225000 1.00000 0 0 83616 83616 0 457376 427708 29668 29668 X 6590849 405484 412 1584186 1990082 4600767 0 4600767 6224383 412 1584186 1584598 4639785 0 4639785 PART V, LINE 4: THE ORGANIZATION CURRENTLY USES THE ENDOWMENT FUNDS FOR INTERNAL BORROWING TO BE REPAID WITHIN 24 MONTHS. PART X, LINE 2: THE ORGANIZATION HAS ADOPTED GUIDANCE ON THE INCOME TAX STANDARD REGARDING THE RECOGNITION OF UNCERTAIN TAX POSITIONS. THIS GUIDANCE PRESCRIBES RECOGNITION THRESHOLD PRINCIPLES FOR THE FINANCIAL STATEMENT RECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN THAT ARE NOT CERTAIN TO BE REALIZED. THE IMPLEMENTATION OF THIS GUIDANCE HAD NO IMPACT ON THE ORGANIZATION'S FINANCIAL STATEMENTS. THE ORGANIZATION'S TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 1,584,186. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 1,584,186. X X X X X X X 1 CREATIVE FUNDRAISING ADVISORS 1041 GRAND AVE SAINT PAUL MN 55105 FUNDRAISING CONSULTING 0 0 42987 -42987 42987 -42987 MN MN BOOKLOVERS BALL 174400 147750 26650 12079 20448 7781 174400 147750 26650 12079 20448 7781 40308 -13658 X X X X 0 1 0 0 0 0 0 0 0 DANIEL SLAGER PUBLISHER/ CEO 217500 0 0 0 0 0 0 0 7336 0 224836 0 0 0 PART I, LINE 3 THE EXECUTIVE COMMITTEE CONDUCTS AN ANNUAL REVIEW OF THE PUBLISHER & CEO. THEIR REVIEW AND COMPENSATION ADJUSTMENTS ARE SHARED WITH THE FULL BOARD IN AN EXECUTIVE SESSION AT A BOARD MEETING. PART I, LINE 4B DANIEL SLAGER PARTICIPATED IN A 457(F) PLAN, BUT RECEIVED NO PAYMENTS FROM THE PLAN DURING THE YEAR. PART III, LINE 4A 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 POETRY 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. PART III, LINE 4B 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. THE BUILDING CLOSED TO THE PUBLIC IN EARLY 2020 DUE TO THE COVID-19 PANDEMIC BUT REOPENED IN JUNE OF 2022. - 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. PART III, LINE 4C 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 2022, 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. FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE IS MADE UP OF THE OFFICERS OF THE BOARD OF DIRECTORS (CHAIR, VICE CHAIR, SECRETARY, AND TREASURER), THE IMMEDIATE PAST CHAIR OF THE BOARD OF DIRECTORS, THE CHAIR OF THE ADVANCEMENT COMMITTEE, THE CHAIR OF THE FINANCE COMMITTEE, ANY OTHER DIRECTORS WHO MAY BE APPOINTED BY THE CHAIR OF THE CORPORATION, AND, EX OFFICIO, THE PUBLISHER OF THE CORPORATION. THE EXECUTIVE COMMITTEE IS CHAIRED BY THE CHAIR OF THE BOARD OF DIRECTORS. THE EXECUTIVE COMMITTEE HAS THE AUTHORITY TO ACT FOR THE BOARD OF DIRECTORS BETWEEN MEETINGS OF THE BOARD. THE EXECUTIVE COMMITTEE CONDUCTS AN ANNUAL REVIEW OF THE PUBLISHER & CEO. THEIR REVIEW AND COMPENSATION ADJUSTMENTS ARE SHARED WITH THE FULL BOARD IN AN EXECUTIVE SESSION AT A BOARD MEETING. FORM 990, PART VI, SECTION B, LINE 11B THE AUDIT SUBCOMMITTEE OF THE FINANCE COMMITTEE REVIEWS THE AUDITED FINANCIAL STATEMENTS AND RECOMMENDS THEIR ACCEPTANCE TO THE ENTIRE BOARD OF DIRECTORS (MILKWEED'S GOVERNING BODY). EACH MEMBER OF THE BOARD RECEIVES A COPY OF THE STATEMENTS PRIOR TO THE MEETING AT WHICH THE STATEMENTS ARE ACCEPTED. THE AUDIT SUBCOMMITTEE ALSO APPROVES THE SELECTION OF THE INDEPENDENT AUDITING FIRM. FORM 990, PART VI, SECTION B, LINE 12C INDEPENDENT BOARD MEMBERS (INTERESTED PERSONS) ARE ASKED TO SIGN A STATEMENT ANNUALLY WHICH AFFIRMS THAT THEY HAVE READ AND UNDERSTAND THE CONFLICT OF INTEREST POLICY. INTERESTED PERSONS HAVE A DUTY TO DISCLOSE POTENTIAL CONFLICTS OF INTEREST AT WHICH POINT THE REMAINING BOARD MEMBERS WILL REVIEW AND DETERMINE WHETHER A CONFLICT EXISTS. BOARD MEMBERS MUST RECUSE THEMSELVES FROM ANY DECISION AND VOTE ON DETERMINING WHETHER A CONFLICT EXISTS. ALL PROCEEDINGS RELATED TO CONFLICTS OF INTEREST ARE DOCUMENTED IN THE MEETING MINUTES. IF THE BOARD HAS REASONABLE CAUSE TO BELIEVE A MEMBER HAS FAILED TO DISCLOSE ACTUAL OR POSSIBLE CONFLICTS OF INTEREST, IT SHALL INFORM THE INTERESTED PERSON OF THE BASIS FOR SUCH BELIEF AND AFFORD THE INTERESTED PERSON AN OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE. IF, AFTER HEARING THE INTERESTED PERSON'S RESPONSE AND AFTER MAKING FURTHER ANY INQUIRY THAT MAY BE WARRANTED, THE BOARD DETERMINES THE MEMBER HAS FAILED TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, IT SHALL TAKE APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION. FORM 990, PART VI, SECTION B, LINE 15A THE EXECUTIVE COMMITTEE CONDUCTS AN ANNUAL REVIEW OF THE PUBLISHER & CEO. THEIR REVIEW AND COMPENSATION ADJUSTMENTS ARE SHARED WITH THE FULL BOARD IN AN EXECUTIVE SESSION AT A BOARD MEETING. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS AUDITED FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. THE ORGANIZATION DOES NOT MAKE ITS GOVERNING DOCUMENTS OR ITS CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC. PART XII LINE 2C NO CHANGES.