IR is funded mainly by subscriptions, contests, grants, and partially by university support.

[1][2][3][4] In addition, Indiana Review is recognized as one of the top 50 fiction markets by Writer's Digest and in 1996 was selected as the first-place winner of the American Literary Magazine Award.

[3] Past contributors include: Denise Duhamel, Yusef Komunyakaa, Stuart Dybek, Sherman Alexie, Gary Soto, Philip Levine, Peter Selgin, Lucia Perillo, Campbell McGrath, Terrance Hayes, Richard Blanco, Rafael Campo, Cornelius Eady, Marilyn Chin, Martin Espada, Roxane Gay, Ha Jin, David Kirby, Bob Hicok, Reginald Shepherd, Ursula K. Le Guin, Patrick Rosal, Peter Tieryas, Chitra Divakaruni and Paul Martínez Pompa.

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