Deep Vellum Publishing Inc

“There were no committees during the year which had authority to act on behalf of the full board.”

“The board was provided a draft electronically for final notes or questions, which were then submitted so that any required changes could be made. The board then voted for the executive director to approve and file on behalf of the Organization.”

“Persons covered - Any director, principal officer, or member of a committee with governing board delegated powers, who has a direct or indirect financial interest.Monitoring proposed or ongoing transactions for conflicts - An interested person must disclose the existence of the financial interest and be given the opportunity to disclose all material facts to the governing board or committee with governing board delegated powers considering the proposed transaction or arrangement. Each covered person must annually sign a statement which affirms that such person has received, has read, and understands the Policy and agrees to comply with it. Periodic reviews are to be conducted which, at a minimum, include the following subjects: whether compensation arrangements and benefits are reasonable, based on competent survey information, and the results of arm's length bargaining; and whether partnerships, joint ventures, and arrangements with management organizations conform to the Organization's written policies, are properly recorded, reflect reasonable investment or payments for goods and services, further charitable purposes, and do not result in inurement, impermissible private benefit, or an excess benefit transaction.Dealing with potential conflicts and the level at which determinations of whether a conflict exists are made - After disclosure of the financial interest and all material facts, and after any discussion with the interested person, he/she shall leave the governing board or committee meeting while the determination of a conflict of interest is discussed and voted upon. The remaining board or committee members shall decide if a conflict of interest exists.Dealing with actual conflicts, the level at which actual conflicts are reviewed, and restrictions imposed on the interested person - An interested person may make a presentation at the governing board or committee meeting, but after the presentation, he/she shall leave the meeting during the discussion of, and the vote on, the transaction or arrangement involving the possible conflict of interest. The chairman of the governing board or committee shall, if appropriate, appoint a disinterested person or committee to investigate alternatives to the proposed transaction or arrangement. After exercising due diligence, the governing board or committee shall determine whether the Organization can obtain with reasonable efforts a more advantageous transaction or arrangement from a person or entity that would not give rise to a conflict of interest. If a more advantageous transaction or arrangement is not reasonably possible under circumstances not producing a conflict of interest, the governing board or committee shall determine by a majority vote of the disinterested directors whether the transaction or arrangement is in the Organization's best interest, for its own benefit, and whether it is fair and reasonable. In conformity with the above determination, it shall make its decision as to whether to enter into the transaction or arrangement.”

“The executive director's compensation was determined by the board upon consultation with an independent consultant, review of Forms 990 of other nonprofit publishing houses and literary arts centers in Texas, Minnesota, California, and New York, and consideration of the GuideStar Nonprofit Compensation Report and informal surveys of other publishing industry professionals. This process was last undertaken in June 2021.”

“There are no such individuals.”

“These are available upon request.”

“As discussed on Form 990, Part III, Line 4a, the Organization acquired Dalkey Archive Press ("DAP"), an entity which had been struggling financially and operationally and which was understood to be an exempt organization. After the acquisition was completed, the Organization learned that DAP's federal tax exempt status had been automatically revoked for not filing a Form 990-series return or notice for three consecutive years. The Organization is currently in the process of determining the appropriate remedy needed, including which past tax filings or payments are still required, if any. This process unfortunately includes the time-intensive task of creating DAP's financial reports for the years before acquisition. Accordingly, liabilities for income taxes, penalties, and interest may exist which are not reported on this return. The Organization intends to amend this return if necessary and appropriate upon resolving this issue.”