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Arts, Culture, Humanities : Performing Arts

The Loft Literary Center

Inspiring a passion for literature

88.79

1011 Washington Avenue South Suite 200, Open Book
Minneapolis, MN 55415
tel: (612) 215-2575   Web Site
EIN: 41-1297735

Board Leadership
Mike Meyer
Chair

CEO
Beth Schoeppler
Interim Executive Director

Charity Navigator

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  Score
(out of 100)
Rating
Overall Score & Rating 88.79
  Financial 85.79
  Accountability & Transparency 93.00
This rating was published 03/01/2022 and includes data from FY2020, the most recent 990 received at that time.

Founded in 1974, The Loft Literary Center advances the artistic development of writers, fosters a thriving literary community, and inspires a passion for literature. As an intergenerational, multicultural literary arts center, the Loft operates as an artist service organization, a gathering place for readers and writers, a community school for the arts, and a presenting organization. Each year, the Loft nurtures hundreds of novelists, poets, spoken word artists, and writers in every genre and style, and connects them to readers and live audiences in the twin cities and across Minnesota, reaching over 750,000 people annually.

Founded in 1974, The Loft Literary Center advances the artistic development of writers, fosters a thriving literary community, and inspires a passion for literature. As an intergenerational, multicultural literary arts center, the Loft operates as an artist service organization, a gathering place for readers and writers, a community school for the arts, and a presenting organization. Each year, the Loft nurtures hundreds of novelists, poets, spoken word artists, and writers in every genre and style, and connects them to readers and live audiences in the twin cities and across Minnesota, reaching over 750,000 people annually.

Financial

85.79

Accountability & Transparency

93.00

This rating was published 03/01/2022 and includes data from FY2020, the most recent 990 received at that time.
Overall Rating Chart
  Program Expenses
(Percent of the charity's total expenses spent on the programs
and services it delivers)
81.9%
  Administrative Expenses 6.8%
  Fundraising Expenses 11.2%
  Fundraising Efficiency $0.22
  Working Capital Ratio (years) 0.83
  Program Expenses Growth 3.7%
  Liabilities to Assets 5.4%
All data for Financial Performance Metrics calculations was provided by The Loft Literary Center on recent 990s filed with the IRS.
All data for Financial Performance Metrics calculations was provided by The Loft Literary Center on recent 990s filed with the IRS.

Highly Rated

Charity Name & State Overall Score Overall Rating
The Loft Literary Center (MN) 88.79
Theatre Communications Group (NY) 86.69
National Performance Network (LA) 87.79
Byrd Hoffman Water Mill Foundation (NY) 87.96
American Theatre Wing (NY) 92.80

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REVENUE  
Contributions  
   Contributions, Gifts & Grants $758,523
   Federated Campaigns $0
   Membership Dues $0
   Fundraising Events $2,695
   Related Organizations $0
   Government Grants $206,600
Total Contributions $967,818
   Program Service Revenue $786,643
Total Primary Revenue $1,754,461
   Other Revenue $228,483
TOTAL REVENUE $1,982,944
   
EXPENSES  
   Program Expenses $1,997,174
   Administrative Expenses $197,694
   Fundraising Expenses $270,461
TOTAL FUNCTIONAL EXPENSES $2,465,329
   
Payments to Affiliates $0
Excess (or Deficit) for the year $-482,385
   
Net Assets $4,462,759

Program names and associated costs are listed for the top programs as reported on the charity's most recently filed Form 990. The top programs displayed will include the largest three programs, or those programs covering at least 60% of the charity's total expenses, whichever comes first.

Program Name Amount Spent % of Program Expenses
Learning for Writers and Readers $1,087,962 54.5%
Services for Writers and the Literary Community $471,101 23.6%
Events for Readers $438,111 21.9%

Ratings History

Form 990 FYE Date Published Overall Score Overall Rating
CN 2.1
2020-08 03/01/2022 88.79
2019-08 02/01/2021 90.41
2018-08 07/01/2019 86.09
2017-08 07/01/2018 84.75
2016-08 10/01/2017 84.70
2015-08 11/01/2016 86.98
2014-08 06/01/2016 89.47
 
CN 2.0
2014-08 09/01/2015 82.44
2013-08 09/01/2014 89.01

The data displayed on this tab is provided by the IRS in the form of Publication 78 and the Business Master File (BMF).

EIN 41-1297735
Name in IRS Master File LOFT INC
NTEE Code A70
NTEE Classification Humanities Organizations
NTEE Type Arts, Culture and Humanities
Classification Literary Organization
Subsection 501(c)(3)  (View the list of codes)
Activities (90) Cultural performances
(92) Literary activities
Foundation Status Organization that normally receives no more than one-third of its support from gross investment income and unrelated business income and at the same time more than one-third of its support from contributions, fees, and gross receipts related to exempt purposes.  509(a)(2)
Deductibility Contributions are deductible
Affiliation Independent - the organization is an independent organization or an independent auxiliary (i.e., not affiliated with a National, Regional, or Geographic grouping of organizations).
Group Name [Not Applicable]
Ruling Date June, 1977
Filing Requirement 990 (all other) or 990EZ return
Fiscal Year End August
IRS Forms 990
(provided courtesy of Foundation Center)
(Log In or Register Now to View Forms 990!)
  • August, 2017
  • August, 2016
  • August, 2015
  • August, 2014
  • August, 2013
Compensation % of Expenses Paid to Title
$93,510 3.79% Britt Udesen Executive & Artistic Director
Other Salaries of Note
$2,888 0.11% Dawn Frederick Director
$1,536 0.06% Karlyn Coleman Director
$1,000 0.04% Kathy Haddad Director

Highly Rated

Charity Name & State Overall Score Overall Rating
The Loft Literary Center (MN) 88.79
Magnum Cultural Foundation (NY) 87.23
Creative Capital Foundation (NY) 86.68
Artspace Projects (MN) 89.48
Alliance of Resident Theatres/New York (NY) 96.48

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Charity Contact Info

The Loft Literary Center
1011 Washington Avenue South
Suite 200, Open Book
Minneapolis, MN 55415
tel: (612) 215-2575
fax: (612) 215-2576
EIN: 41-1297735

Visit Web Site

Board Leadership

Mike Meyer
Chair

CEO

Beth Schoeppler
Interim Executive Director

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