The Lofte Association Inc

Nonprofit profile at a glance

EIN
470635951
IRS 990 coverage
2010–2025
Forms available
Form 990 2025
Location
Manley, NE, USA
Phone
4022342553
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$537,512
Expenses
$416,678
Assets
$2,031,106
Liabilities
$1,313,497

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

15 people listed

Executive titles in this filing

  • AARON SPRACKLIN (PRESIDENT/DI)

Highest reported compensation

  • KEVIN COLBERT (ARTISTIC DIR): $54,000 total reported compensation
  • JEAN COLBERT (DIRECTOR/BOX): $9,494 total reported compensation
  • AARON SPRACKLIN (PRESIDENT/DI): $3,309 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Dedicated to providing opportunities for area residents of all ages and those in the surrounding communities to participate in the creative process and companionship of live theater in rural Nebraska and to enjoy the social, artistic, and educational benefits of this art form.

What it reported doing in 2025

Performance of plays and presentation of other performances, support of local school drama departments, acting classes for local children, over 4,000 tickets sold and/or given away, volunteers and performers number in the hundreds.

Operating model

Revenue model
Donor-supported. 65% of the money available for current operations came from contributions and gifts.
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.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 57
  • Transparency & Controls: 92
  • Accountability: 73
  • Sustainability: 64
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 50%; rating input score 50
  • Program expense ratio: 62%; rating input score 62
  • Fundraising efficiency: $55.14 raised per $1 spent on fundraising; rating input score 77; 77th 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: 92.9%; rating input score 93; 27th percentile among comparable filings
  • Governance controls: 4 of 9 controls in place; rating input score 44
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 22.5%; rating input score 75; 75th percentile among comparable filings
  • Total-asset coverage ratio: 4.87; rating input score 84; 84th percentile among comparable filings
  • Liabilities to assets ratio: 0.65; rating input score 9; 9th percentile among comparable filings
  • Officer compensation ratio: 16.8%; rating input score 21; 21st percentile among comparable filings

Growth

  • Program expense growth: 3.3% per year; rating input score 100; 28th percentile among comparable filings
  • Revenue growth: 3.3% per year; rating input score 100; 27th percentile among comparable filings
  • Asset growth: -1.6% per year; rating input score 0; 11th percentile among comparable filings

Details

  • Where the money goes: 50% of revenue deployed · 62% of spending went to programs
  • Governance: 13 of 14 board members independent · 4 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $258K in reported program spending
  • Leadership: top reported pay $54K · 15 people listed
  • Consistency: 22 of 22 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 16 filing years from 2010 to 2025
  • Contacts: How to reach this organization
  • Money network: 5 filed money-flow records
  • 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.

  • Review — Financial Efficiency: Mission deployment rate scored 50/100.
  • Moderate — Accountability: Governance controls: 4 of 8 not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 9/100.
  • High — Sustainability: Officer compensation ratio scored 21/100.