The Loft Inc
Nonprofit profile at a glance
- EIN
- 411297735
- IRS 990 coverage
- 2009–2024
- Forms available
- Form 990 2024, Form 990-T 2024
- Location
- Minneapolis, MN, USA
- Phone
- 6122152575
- Rating
- 86
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Humanities Organizations
Reported finances
- Revenue
- $2,406,189
- Expenses
- $2,397,048
- Assets
- $6,274,644
- Liabilities
- $421,690
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
11 people listed
Highest reported compensation
- ARLETA LITTLE (EXEC & ARTISTIC DIR, BOARD): $127,656 total reported compensation
- ELIZABETH SCHOEPPLER (SR. DIR., FINANCE & OPERAT): $94,201 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
See schedule othe loft advances the power of writers and readers to craft and share stories, to create and celebrate connections, and to build just, life-sustaining communities. We envision a world where the power of the word liberates minds, deepens relationships, and inspires movements for people and planet. As an antiracist organization, the loft develops literary experiences for writers, readers, and storytellers because racism dehumanizes people, and poetry and stories deepen our connection to our shared humanity. Recognizing the relationship between race, power, and resources, we prioritize the engagement of bipoc and marginalized communities and work for the equitable distribution of our power and resources.
What it reported doing in 2024
Services for writers and the literary community: see schedule o for service accomplishments
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 92% 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.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 76
- Transparency & Controls: 94
- Accountability: 100
- Sustainability: 49
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 86.2%; rating input score 86
- Program expense ratio: 81.3%; rating input score 81
- Fundraising efficiency: $4.22 raised per $1 spent on fundraising; rating input score 14; 14th 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: 100%; rating input score 100; 72nd percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd 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: NotApplicable
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 0.4%; rating input score 35; 35th percentile among comparable filings
- Total-asset coverage ratio: 2.62; rating input score 70; 70th percentile among comparable filings
- Liabilities to assets ratio: 0.07; rating input score 66; 66th percentile among comparable filings
- Officer compensation ratio: 9.3%; rating input score 32; 32nd percentile among comparable filings
Growth
- Program expense growth: 0.6% per year; rating input score 100; 16th percentile among comparable filings
- Revenue growth: 0.8% per year; rating input score 100; 15th percentile among comparable filings
- Asset growth: 2.9% per year; rating input score 100; 24th percentile among comparable filings
Details
- Where the money goes: 86.2% of revenue deployed · 81.3% of spending went to programs
- Governance: 9 of 9 board members independent · 8 of 8 filing controls reported
- Programs: 3 filed program accomplishments · $1.9M in reported program spending
- Leadership: top reported pay $128K · 11 people listed
- Consistency: 33 of 33 current checks pass
- Schedules: 6 filed schedules · includes major donors and grants
- Filing history: 15 filing years from 2009 to 2024
- Contacts: How to reach this organization
- Money network: 2 filed money-flow records
- 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.
- High — Financial Efficiency: Fundraising efficiency scored 14/100.
- Moderate — Sustainability: Operating margin scored 35/100.
- Moderate — Sustainability: Officer compensation ratio scored 32/100.