Loft Inc

Organization Overview

Loft Inc, operating under the name The Loft Literary Center, is located in Minneapolis, MN. The organization was established in 1977. According to its NTEE Classification (A70) the organization is classified as: Humanities, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 08/2023, Loft Literary Center employed 26 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Loft Literary Center is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.

For the year ending 08/2022, Loft Literary Center generated $2.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.1% each year. All expenses for the organization totaled $2.1m during the year ending 08/2022. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

THE LOFT ADVANCES THE POWER OF WRITERS AND READERS TO CRAFT AND SHARE STORIES, TO (SEE SCHEDULE O) CREATE AND CELEBRATE CONNECTIONS, AND TO BUILD JUST, LIFE-SUSTAINING COMMUNITIES.

Describe the Organization's Program Activity:

Part 3 - Line 4a

LEARNING FOR WRITERS AND READERS: SEE SCHEDULE O FOR SERVICE ACCOMPLISHMENTS


SERVICES FOR WRITERS AND THE LITERARY COMMUNITY: SEE SCHEDULE O FOR SERVICE ACCOMPLISHMENTS


EVENTS FOR READERS: SEE SCHEDULE O FOR SERVICE ACCOMPLISHMENTS


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Board, Officers & Key Employees

Name (title)Compensation
Sarah Olson
Director
$0
Jon Austin
Board Treasurer
$0
Karlyn Coleman
Director
$375
Mike Meyer
Board Chair
$0
Dara Beevas
Director
$0
David Killpatrik
Director
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $180,898
All other contributions, gifts, grants, and similar amounts not included above$1,523,256
Noncash contributions included in lines 1a–1f $6,740
Total Revenue from Contributions, Gifts, Grants & Similar$1,704,154
Total Program Service Revenue$758,802
Investment income $152,417
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $2,615,373

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