In the earlier papers we analyzed the axisymmetric, nonstationary electrodynamics of the central black hole and a surrounding thin accretion disk in an active galactic nucleus. Based on those papers we analyze the axisymmetric, nonstationary black hole magnetosphere in this paper. We concentrate on deriving the ‘Grad-Shafranov equations’; both in the force-free and non-force-free cases. In the time-independent limit our equations naturally coincide with stationary equations as they should.