Overview
What is The Loft Inc?
The Loft Inc, also known as The Loft Literary Center, is a vibrant nonprofit organization situated in Minneapolis, Minnesota. Based at 1011 Washington Ave S STE 200, this organization is dedicated to nurturing the artistic growth of writers and fostering a thriving literary community. As an intergenerational, multicultural literary arts center, The Loft serves as a platform for writers in various genres and styles, offering them resources and opportunities to develop their craft. The organization operates as an artist service organization, a gathering place for readers and writers, a community school for the arts, and a presenting organization. The Loft annually supports numerous novelists, poets, spoken word artists, and writers, connecting them with contemporary literature and engaging readers and audiences beyond the Twin Cities. With a workforce of 23 dedicated individuals, The Loft inspires a passion for literature and cultivates a thriving literary community.
Official website here: www.loft.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 100% - Four-Star out of Four Star rating from Charity Navigator.
The Loft Inc. has received an outstanding 100% rating from Charity Navigator, reflecting its exceptional accountability and financial health. With 93% in Accountability & Finance and a perfect score in key areas such as independent board membership and program expenses, the organization operates transparently and efficiently, ensuring that a significant portion of its resources is devoted to its core mission of supporting writers.
User feedback consistently highlights The Loft's invaluable role in fostering a vibrant writing community. Many users credit the organization with advancing their writing careers through high-quality classes and mentorships, emphasizing the inspiring environment created by both staff and fellow writers. The Loft offers a range of opportunities for individuals at different stages in their writing journey, from beginners to published authors, reinforcing its reputation as a cornerstone of the literary scene in the Twin Cities.
While the feedback is overwhelmingly positive, a minor point of concern raised by some users pertains to affordability, as some classes can be costly. However, the organization does provide options for financial assistance, making it accessible to a broader audience. Overall, The Loft Inc. stands out as a vital resource for writers, contributing significantly to their development and the cultural fabric of the local community.
This AI summary has been generated from information found on Charity Navigator and Great Nonprofits.
Is The Loft Inc legitimate?
The Loft Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Loft Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $240,511
Professional Fundraising Fees: $19,589
Other Salaries and Wages: $890,644
For more financial information, click here
Official website here: www.loft.org
What is the mission statement of The Loft Inc?
The Loft Inc, as an artistic development organization, aims to foster a thriving literary community and inspire a passion for literature. Serving as a multicultural literary arts center, it functions as an artist service organization, a gathering place for readers and writers, a community school for the arts, and a presenting organization. The Loft annually supports numerous novelists, poets, spoken word artists, and writers in various genres and styles, connecting them with contemporary literature, reaching beyond the Twin Cities.
Official website here: www.loft.org
What is the revenue of The Loft Inc?
The Loft Inc's revenue in 2024 was $1,781,751.
Official website here: www.loft.org
Who are the executives of The Loft Inc and what are their salaries?
The average compensation at The Loft Inc during 2024 was $43,506. There are 26 employees and 17 volunteers at The Loft Inc.
Here are 13 key members and their salaries:
- Compensation: $134,671
- Related: $0
- Other: $4,904
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $324
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $232
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $96,881
- Related: $0
- Other: $4,162
Official website here: www.loft.org
Where can I find the form 990 for The Loft Inc?
The Loft Inc's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.loft.org
Learn more at the official website: www.loft.org
Mission Statement of The Loft Inc
The Loft Inc, a multicultural literary arts center, is committed to advancing the artistic development of writers, fostering a vibrant literary community, and inspiring a passion for literature. Acting as an artist service organization, a gathering place for readers and writers, a community school for the arts, and a presenting organization, The Loft Inc nurtures numerous novelists, poets, spoken word artists, and writers in various genres and styles annually. By providing a platform for contemporary literature, it connects readers and audiences in the Twin Cities and beyond. The Loft Inc serves as a hub for writers at different stages of their careers, offering them opportunities to hone their craft and engage with a supportive community.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
July, 2024
The Loft Inc has a significant impact on advancing the artistic development of writers, fostering a thriving literary community, and inspiring a passion for literature. It serves as an intergenerational, multicultural literary arts center, providing learning opportunities for writers and readers alike. Through its various programs and initiatives, The Loft nurtures hundreds of novelists, poets, spoken word artists, and writers in every genre and style each year. Additionally, it connects readers and audiences in the Twin Cities and beyond with contemporary literature, creating a vibrant cultural hub for literary enthusiasts.
This information is meant to be a general summary of The Loft Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2024.
- Investment Income: $144,313
- Program Service Revenue: $741,332
- Gross Receipts: $1,989,859
Assets and Liabilities:
- Total Assets: $5,784,467
- Total Liabilities: $448,511
- Net Assets: $5,335,956
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TUITIONS
Revenue
$583,189
COLLABORATION & SERVICES FEES
Revenue
$110,317
MISSION RELATED RENTALS
Revenue
$42,048
OTHER PROGRAM REVENUE
Revenue
$3,340
ADMISSIONS
Revenue
$1,838
Organization Details
If you are a representative of The Loft Inc and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.