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The Loft Inc

The Loft Literary Center

Learn about this cause: Is it Legit? Do I like the mission? What is the CEO's salary?

EIN: 411297735 ✦ Minneapolis, MN ✦ Designated as a 501(c)(3)

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

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.

Here are some key statistics you may want to consider:

Executive Compensation: $215,598
Professional Fundraising Fees: $11,239
Other Salaries and Wages: $678,659

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

Who is the CEO of The Loft Inc?

Arleta Little is the Principal Officer of The Loft Inc.


Official website here: www.loft.org

What is the revenue of The Loft Inc?

The Loft Inc's revenue in 2022 was $2,615,373.


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 2022 was $38,881. There are 23 employees and 14 volunteers at The Loft Inc.

Here are 12 key members and their salaries:

    Elizabeth Schoeppler (Managing/Interim Executive Director)
  • Compensation: $105,904
  • Related: $0
  • Other: $5,031

    • Karlyn Coleman (Director)
  • Compensation: $100
  • Related: $0
  • Other: $0

    • Sarah Olson (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0

    • Jon Austin (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0

    • Mike Meyer (Board Treasurer) [Trustee/Director]
  • Compensation: $0
  • Related: $0
  • Other: $0

    • Dara Beevas (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0

    • David Killpatrik (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0

    • Melinda Ward (Vice Chair & Secretary) [Trustee/Director]
  • Compensation: $0
  • Related: $0
  • Other: $0

    • Arleta Little 3122-Present (Executive & Artistic Director)
  • Compensation: $0
  • Related: $0
  • Other: $0

    • Ruth Shields (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0

    • Dorothy Nins (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0

    • Kelly Jo Mcdonnell (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0


  • Official website here: www.loft.org

    Where can I find the form 990 for The Loft Inc?

    The The Loft Inc’s most recent form 990 was submitted in 2022 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.

    Impact

    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.




    Saturday, July 20, 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.





    Financials

    This financial information is from Propublica.

    Revenue
    Expenses
    Efficiency

    Other financial information:

    This information is from the most recently submitted tax form from this organization, which was in 2022.

  • Investment Income: $152,417
  • Program Service Revenue: $758,802
  • Gross Receipts: $2,615,373

    • Assets and Liabilities:
  • Total Assets: $5,784,467
  • Total Liabilities: $448,511
  • Net Assets: $5,335,956
  • Programs

    Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.

    TUITION, COACHING & WORKSHOP

    Revenue

    $697,388

    COLLABORATION & SERVICES FEES

    Revenue

    $35,240

    STUDIO & BOOK CLUB RENTAL

    Revenue

    $19,013

    OTHER PROGRAM REVENUE

    Revenue

    $4,049

    ADMISSIONS

    Revenue

    $2,567

    Organization Details

    Founding Year

    1975

    Principal Officer

    Arleta Little

    Main Address

    1011 WASHINGTON AVE S STE 200, MINNEAPOLIS, MN, 55415

    NTEE Category

    Code: A700 - Arts

    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.