Loft Cinema Inc Fka Tucson Cinema Foundation Inc

Nonprofit profile at a glance

EIN
460477843
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-T 2022
Location
Tucson, AZ, USA
Phone
5203225638
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Film, Video

Official website

Reported finances

Revenue
$3,811,547
Expenses
$2,703,475
Assets
$7,535,572
Liabilities
$2,531,270

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

15 people listed

Executive titles in this filing

  • RON BARBER (PRESIDENT)
  • JAIME GUTIERREZ (VICE PRESIDENT)
  • PEGGY JOHNSON (EXECUTIVE DIRECTOR)

Highest reported compensation

  • PEGGY JOHNSON (EXECUTIVE DIRECTOR): $99,725 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Building community by celebrating the art and diversity of film.

What it reported doing in 2024

The loft cinema is the premier venue in the southwestern united states for art films, foreign, independent, alternative and classic narrative films and documentaries. Open 365 days a year with an average of 15 screenings per day, the loft provides a full spectrum of cinema experiences, with affordable tickets and many free series and events. Programming is diverse and inclusive where films from over 40 countries were screened for audiences that included the entire community of southern Arizona, including people from every race, gender, age, sexual orientation and income level. Signature events include hosting visiting filmmakers and scholars to discuss their work with audiences, local film premieres, all-night horror and sci-fi marathons, sing-a-long events, the free loft kids fest and monthly loft jr series, and the loft film fest, which highlights new films on the festival circuit and honors significant figures in independent cinema.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - The filed numbers largely add up and a large share of available resources goes toward mission work. Fundraising costs are high for each dollar raised and liabilities are high compared with assets.

Rating breakdown

  • Financial Efficiency: 66
  • Transparency & Controls: 92
  • Accountability: 96
  • Sustainability: 72
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 63.5%; rating input score 63
  • Program expense ratio: 77.1%; rating input score 77
  • Fundraising efficiency: $12.77 raised per $1 spent on fundraising; rating input score 46; 46th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 94.4%; rating input score 94; 25th percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 29.1%; rating input score 84; 84th percentile among comparable filings
  • Total-asset coverage ratio: 2.79; rating input score 72; 72nd percentile among comparable filings
  • Liabilities to assets ratio: 0.34; rating input score 31; 31st percentile among comparable filings
  • Officer compensation ratio: 3.7%; rating input score 64; 64th percentile among comparable filings

Growth

  • Program expense growth: 1.8% per year; rating input score 100; 21st percentile among comparable filings
  • Revenue growth: 4.3% per year; rating input score 100; 36th percentile among comparable filings
  • Asset growth: 8.3% per year; rating input score 100; 51st percentile among comparable filings

Details

  • Where the money goes: 63.5% of revenue deployed · 77.1% of spending went to programs
  • Governance: 17 of 18 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $2.1M in reported program spending
  • Leadership: top reported pay $100K · 15 people listed
  • Consistency: 31 of 31 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: Filed and resolved organization relationships.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • Moderate — Financial Efficiency: Fundraising efficiency scored 46/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 31/100.
  • High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.