Loft Inc
Public records show a registered, tax-exempt organization in good standing.
What it says it does
SEE SCHEDULE OTHE LOFT ADVANCES THE POWER OF WRITERS AND READERS TO CRAFT AND SHARE STORIES, TO CREATE AND CELEBRATE CONNECTIONS, AND TO BUILD JUST, LIFE-SUSTAINING COMMUNITIES. WE ENVISION A WORLD WHERE THE POWER OF THE WORD LIBERATES MINDS, DEEPENS RELATIONSHIPS, AND INSPIRES MOVEMENTS FOR PEOPLE AND PLANET. AS AN ANTIRACIST ORGANIZATION, THE LOFT DEVELOPS LITERARY EXPERIENCES FOR WRITERS, READERS, AND STORYTELLERS BECAUSE RACISM DEHUMANIZES PEOPLE, AND POETRY AND STORIES DEEPEN OUR CONNECTION TO OUR SHARED HUMANITY. RECOGNIZING THE RELATIONSHIP BETWEEN RACE, POWER, AND RESOURCES, WE PRIORITIZE THE ENGAGEMENT OF BIPOC AND MARGINALIZED COMMUNITIES AND WORK FOR THE EQUITABLE DISTRIBUTION OF OUR POWER AND RESOURCES.
- Income
- $2.4 million
- Spending
- $2.4 million
- Spent on programs
- 81%
- Reserves
- 2.5 months of spending
- Largest source of income
- donations and private grants, 43%
- Employees
- 19
- Volunteers
- 27
- Highest pay
- $127,656, exec & artistic dir, board
Source: Form 990 for the year ending August 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Financial health
Good: 72 out of 100. Higher than 51% of charities in its peer group (arts and culture, $1m to $10m).
Reserves
10 of 35Spendable reserves would cover 2.5 months of spending.
Debt
20 of 20It owes 7% of what it owns.
Living within its means
12 of 15Income exceeded spending by 0% of income.
Income trend
15 of 15Income rose 35% on the year before.
Spending floor
15 of 1581% of spending went to programs and raising each dollar of donations cost 24 cents.
Source: Form 990 for the year ending August 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Governance
Strong: 100 out of 100. Higher than 65% of charities in its peer group (arts and culture, $1m to $10m).
Independent board
25 of 259 of 9 voting board members are independent.
Conflict of interest policy
15 of 15Has a written conflict of interest policy.
Whistleblower policy
8 of 8Has a written whistleblower policy.
Record keeping policy
7 of 7Has a written policy on keeping and destroying records.
Board minutes
5 of 5Keeps minutes of board meetings.
Board sees the tax return
10 of 10Gave the board a copy of this return before filing it.
Pay set independently
5 of 5Sets its chief executive's pay through independent review and comparison.
Independent check of accounts
15 of 15Its accounts were audited by an independent accountant.
No reported misuse
10 of 10Reports no diversion of assets, excess benefits or loans to insiders.
Source: Form 990 for the year ending August 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Impact evidence
Describes programs. Its tax return describes what it does but we have found no measurable results in it.
Programs described in its return (3)
- $1.2 million spent. SERVICES FOR WRITERS AND THE LITERARY COMMUNITY IN FISCAL YEAR 2025, THE ORGANIZATION PROVIDED A WIDE RANGE OF SERVICES DESIGNED TO SUPPORT WRITERS AND THE BROADER LITERARY COMMUNITY. LOFT.ORG, THE ORGANIZATION'S WEBSITE, PROVIDED REGULAR ARTICLES AND FOSTERED DISCUSSIONS ABOUT THE WRITERS' LIFE AND CRAFT THROUGH THE WRITERS' BLOCK BLOG. THERE, WRITERS FOUND WRITING EXERCISES, READERS FOUND BOOK AND EVENT RECOMMENDATIONS, AND BOTH FOUND LITERARY REVIEWS, COMMENTARY, NEWS, AND DISCUSSION. THE SITE ALSO INCLUDED INTERVIEWS, A CALENDAR OF READINGS AND EVENTS, AN ONLINE CATALOG OF CLASSES, AND RESOURCES INCLUDING INFORMATION ABOUT WRITING GROUPS, COMPETITIONS, GRANTS, AWARDS, PUBLISHERS, AND AGENTS. IN FY25, THE LOFT MADE INVESTMENTS IN MAKING THE WEBSITE MORE INTUITIVE TO USERS AND MORE ACCESSIBLE TO PEOPLE WITH DISABILITIES. VISITORS TO OPEN BOOK ACCESSED THE RACHEL ANNE GASCHOTT RITCHIE SMALL PRESS LIBRARY TO RESEARCH JOURNALS THAT MIGHT PUBLISH THEIR WORK AND DEEPEN THEIR UNDERSTANDING OF THE MANUSCRIPTS LOCAL INDEPENDENT PUBLISHERS ARE SEEKING. EIGHTEEN WRITERS MADE USE OF THE ORGANIZATION'S WRITERS' STUDIOS WHILE THE THREE ORGANIZATION-SPONSORED CULTURALLY DISTINCT WRITING GROUPS MET AT OPEN BOOK. THIRTY-TWO WRITERS RECEIVED INDIVIDUAL MANUSCRIPT CRITIQUE OR COACHING TO PURSUE THEIR WRITING CAREERS. THE MENTOR SERIES FELLOWSHIP IN POETRY AND CREATIVE PROSE SERVED TWELVE COMPETITIVELY SELECTED EMERGING ARTISTS. THESE WRITERS ALSO RECEIVED SMALL MONETARY AWARDS. MCKNIGHT ARTIST FELLOWSHIPS FOR WRITERS PROVIDED FIVE MINNESOTA WRITERS OF DEMONSTRATED ABILITY WITH GRANTS OF $25,000, BUYING THEM TIME TO CONCENTRATE ON THEIR CRAFT. FOUR WRITERS WERE COMPETITIVELY SELECTED FOR AWARDS IN CREATIVE PROSE AND ONE WRITER RECEIVED THE AWARD FOR LITERATURE FOR OLDER CHILDREN. THE LOFT'S 2025 FISCAL YEAR BROUGHT A RENEWED PARTNERSHIP WITH THE CITY OF MINNEAPOLIS TO SELECT THE MINNEAPOLIS POET LAUREATE FOR 2025 AS WELL AS MANAGE THE PROGRAM WHICH INCLUDES A COMMISSION FOR NEW WORK, COMMUNITY PROJECTS, SEVERAL SPECIAL EVENTS FEATURING THE AWARDEE, AND A FINANCIAL AWARD. THIS YEAR WE ALSO COORDINATED ACTIVITY FOR ACADEMY OF AMERICAN POETS' POET LAUREATE FELLOWSHIP, WHICH WAS AWARDED TO THE 2024 MINNEAPOLIS POET LAUREATE. THROUGH STRATEGIC PARTNERSHIPS, THE LOFT LEVERAGED ITS RESOURCES AND EXPERTISE IN SUPPORT OF KEY ALLIES IN THE LITERARY ECOSYSTEM INCLUDING A SERIES OF CLASSES IN AT MIA AND INSPIRED BY SELECTED WORKS OF ART AND A SERIES OF WORKSHOPS AT PILLSBURY HOUSE + THEATRE TO HONOR GEORGE FLOYD'S LEGACY AND SUPPORT HEALING THROUGH STORYTELLING. THE ORGANIZATION CONTINUED ITS PARTNERSHIP IN OPEN BOOK, OUR HOME, WITH CO-FOUNDING PARTNERS MILKWEED AND THE MINNESOTA CENTER FOR BOOK ARTS. MAYFLY DESIGN, A BOOK DESIGN FIRM CONTINUES AS A CO-LOCATING PARTNER.
- $518,673 spent. SERVICES FOR WRITERS AND THE LITERARY COMMUNITY: SEE SCHEDULE O FOR SERVICE ACCOMPLISHMENTS LEARNING FOR WRITERS AND READERS THE ORGANIZATION OFFERED A VARIETY OF LEARNING OPPORTUNITIES FOR WRITERS AND READERS DURING FISCAL YEAR 2025. ADULTS AND YOUTH AT ALL LEVELS OF ARTISTIC DEVELOPMENT FURTHERED THEIR SKILLS IN CLASSES FOCUSED ON FICTION, POETRY, CREATIVE NONFICTION, SCREEN/PLAYWRITING, CHILDREN'S LITERATURE, GRAPHIC NOVEL, AND OTHER LITERARY FORMS; LEARNED MORE ABOUT DEVELOPING A WRITING PRACTICE AND CAREER; AND EXPLORED LITERATURE AS READERS. AFTER A YEAR OF EXPERIMENTATION WITH LIT!COMMONS, A SUBSCRIPTION-BASED VIRTUAL LEARNING AND GATHERING SPACE FOR WRITERS, LAUNCHED IN 2024, THE LOFT DETERMINED THAT THE SCALE OF THE INITIATIVE REQUIRED MORE RESOURCES THAN IT COULD RETURN IN A REASONABLE TIMELINE. THE EFFORT WAS PUT ON HIATUS IN JUNE AND WILL EMERGE IN A MORE COST-EFFECTIVE FORMAT IN THE FALL. ALTOGETHER, THE LOFT SERVED NEARLY 3000 ADULTS AND 2000 YOUTH IN 500 CLASSES AND WORKSHOPS AT OPEN BOOK AND ONLINE AS WELL AS SCHOOLS, LIBRARIES, COMMUNITY PROGRAMS, AND LIT!COMMONS.
- $190,688 spent. EVENTS FOR READERS READINGS AND SPOKEN WORD PERFORMANCES HELPED DEVELOP AUDIENCES FOR LITERATURE WHILE PROMOTING AND ADVANCING THE WORK OF INDIVIDUAL WRITERS. PANELS AND DISCUSSIONS FEATURED WRITERS AND THOUGHT LEADERS USING LITERATURE TO SPUR CONVERSATIONS ON TOPICAL ISSUES AND CURATED LITERARY EVENTS ENGAGED AUDIENCE MEMBERS IN EXPLORATION OF THOUGHT-PROVOKING THEMES. A COMBINED AUDIENCE OF MORE THAN 2200 PARTICIPATED IN 38 EVENTS, FEATURING A TOTAL OF 98 ARTISTS AND LITERARY PROFESSIONALS. TO MITIGATE FINANCIAL BARRIERS TO PARTICIPATION IN LITERARY AND CREATIVE WRITING LEARNING OPPORTUNITIES AND EVENTS, THE ORGANIZATION PROVIDED REDUCED PRICE ACCESS VALUED AT $112,000 IN DISCOUNTED REGISTRATION AND ADMISSIONS.
Source: Form 990 for the year ending August 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Legitimacy checks
Is it registered with the IRS? Passed.
Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.
Has the IRS revoked its tax-exempt status? Passed.
Not on the IRS automatic revocation list.
Source: Automatic revocation of exemption list, Internal Revenue Service, file dated September 30, 2026.
Are donations tax-deductible? Passed.
On the IRS list of organizations eligible to receive tax-deductible contributions.
Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated September 10, 2026.
Is it keeping up with its IRS filings? Passed.
Most recent return on file covers the year ending August 2025.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since June 1977.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.
Is it in good standing with state regulators? Passed.
Not on California's list of charities barred from soliciting. Other states are not yet checked.
Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 7, 2026.
Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.