2024-02-16T12:28:55-06:00 2023-08-31 411680240 SDK CPA 100 WASHINGTON AVE S STE 1600 MINNEAPOLIS MN 55401 990 2022-09-01 411297735 THE LOFT INC LOFT 6122152575 1011 WASHINGTON AVE S STE 200 MINNEAPOLIS MN 55415 ARLETA LITTLE EXECUTIVE & ARTISTIC DIRECTOR 6122152575 2024-02-05 1 ARLETA LITTLE 999009999 0 WENDY HARDEN CPA P00956490 6123325500 2024-02-05 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z THE LOFT LITERARY CENTER ARLETA LITTLE 1011 WASHINGTON AVE S STE 200 MINNEAPOLIS MN 55415 2596608 0 X WWW.LOFT.ORG X 1975 MN 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. 13 13 26 65 0 0 1704154 1464302 758802 849533 152417 119499 0 0 2615373 2433334 143000 143500 0 0 996651 1195995 11239 12825 260162 915971 1224726 2066861 2577046 548512 -143712 5784467 5824237 448511 375574 5335956 5448663 X 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. 0 0 1100326 782579 LEARNING FOR WRITERS AND READERS: SEE SCHEDULE O FOR SERVICE ACCOMPLISHMENTS 488103 143500 33151 SERVICES FOR WRITERS AND THE LITERARY COMMUNITY: SEE SCHEDULE O FOR SERVICE ACCOMPLISHMENTS 540384 33581 EVENTS FOR READERS: SEE SCHEDULE O FOR SERVICE ACCOMPLISHMENTS 2128813 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 178 0 26 1 0 0 0 0 0 0 0 0 0 0 0 0 X 13 13 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 MN X X X ELIZABETH SCHOEPPLER 6122152580 1011 WASHINGTON AVE S STE 200 MINNEAPOLIS MN 55415 SARAH OLSON DIRECTOR 1.00 X 0 0 0 JON AUSTIN BOARD TREASURER 2.00 X X 0 0 0 KARLYN COLEMAN DIRECTOR 1.00 X 375 0 0 MIKE MEYER BOARD CHAIR 2.00 X X 0 0 0 DARA BEEVAS DIRECTOR 1.00 X 0 0 0 DAVID KILLPATRIK DIRECTOR 2.00 X 0 0 0 MELINDA WARD VICE CHAIR & SECRETARY 2.00 X X 0 0 0 ARLETA LITTLE EXECUTIVE & ARTISTIC DIREC 32.00 X X 117599 0 791 RUTH SHIELDS DIRECTOR 1.00 X 0 0 0 DOROTHY NINS DIRECTOR 1.00 X 0 0 0 KELLY JO MCDONNELL DIRECTOR 1.00 X 0 0 0 NICHOL HIGDON DIRECTOR 1.00 X 0 0 0 MEENA NATARAJAN DIRECTOR 1.00 X 0 0 0 ELLENA SCHOOP DIRECTOR 1.00 X 0 0 0 ELIZABETH SCHOEPPLER MANAGING DIRECTOR 32.00 X 96151 0 7236 214125 0 8027 1 0 0 0 0 663598 800704 65041 1464302 TUITION, COACHING & WORKSHOP 611600 710438 710438 COLLABORATION & SERVICES FEES 611600 67825 67825 STUDIO & BOOK CLUB RENTAL 611600 30781 30781 ADMISSIONS 611600 17033 17033 EXHIBITOR FEES 611600 16057 16057 7399 7399 849533 113013 113013 169760 163274 6486 6486 6486 2433334 856019 0 113013 143500 143500 267973 136176 105246 26551 772975 612445 11553 148977 155047 110687 18496 25864 35541 5161 29292 1088 12825 12825 145664 126657 7145 11862 138744 138579 165 30132 21719 1214 7199 72188 56442 8214 7532 103676 92422 4076 7178 58494 58480 3 11 5835 4508 472 855 5750 4443 465 842 ARTIST PAY 437397 436346 374 677 PRODUCTION COSTS 80061 80061 BANK & TRANSACTION FEES 43520 37167 339 6014 STAFF DEVELOPMENT 22584 21908 214 462 45140 42112 968 2060 2577046 2128813 188071 260162 240506 323593 1164241 817367 467503 423649 14673 50326 22946 25875 244310 236878 13267 7432 3682086 3994630 179245 181365 5784467 5824237 223197 73350 13000 50500 212314 251724 448511 375574 X 702113 715257 4633843 4733406 5335956 5448663 5784467 5824237 -143712 256419 0 X 0 1 X 1 0 X 1594136 967818 1501186 1704154 1464302 7231596 1005635 786643 879176 758802 849533 4279789 2599771 1754461 2380362 2462956 2313835 11511385 109389 101369 101279 182020 79280 573337 0 109389 101369 101279 182020 79280 573337 10938048 195453 228483 206727 152417 113013 896093 195453 228483 206727 152417 113013 896093 2795224 1982944 2587089 2615373 2426848 12407478 0.88160 0.88120 0.07220 0.06980 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3304450 10000 304564 169760 3449254 3957620 -560761 92409 3304450 3239496 25 817731 87619 12013 3957620 2928103 440048 116797 11858 3239496 3015136 400 70564 136420 21577 2928103 0.69710 0.30290 0 0 39032 33731 5301 205278 203147 2131 7432 X 2689753 256419 256419 2433334 0 2433334 2577046 0 2577046 0 2577046 PART V, LINE 4: USE OF ENDOWMENT FUNDS THE LOFT LITERARY CENTER ENDOWMENT FUND (THE ENDOWMENT) IS PERMANENTLY RESTRICTED NET ASSETS INVESTED TO GENERATE TEMPORARILY RESTRICTED INCOME AND APPRECIATION TO SUPPORT THE FULFILLMENT OF THE ORGANIZATION'S MISSION AND LONG-TERM FINANCIAL NEEDS. PART X, LINE 2: UNCERTAIN TAX POSITION THE ORGANIZATION HAS TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS. 1 MCKNIGHT ARTIST FELLOWSHIP AWARDS 5 125000 MENTOR SERIES FELLOWSHIPS 12 12000 MIRRORS & WINDOWS FELLOWSHIPS 13 6500 PART I, LINE 2: MONITORING GRANT PROCESS THE ORGANIZATION'S PROGRAM AND MANAGING DIRECTORS ENSURE ALL GRANTS PAID TO INDIVIDUALS AGREE WITH THE TERMS SET FORTH IN THE ORIGINAL GRANT AGREEEMENTS. WHERE APPROPRIATE, GRANTEES SUBMIT NARRATIVE REPORTS. X ADVERSITING 3 62950 FMV X MEETING SPACE 1 1591 FMV X MATERIALS 1 500 FMV 0 0 0 FORM 990, PART III, LINE 4A SERVICES FOR WRITERS AND THE LITERARY COMMUNITY IN FISCAL YEAR 2023, THE ORGANIZATION PROVIDED AND EXPANDED UPON 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. 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. TWENTY-SIX WRITERS MADE USE OF THE ORGANIZATION'S WRITERS' STUDIOS WHILE THE THREE ORGANIZATION-SPONSORED CULTURALLY DISTINCT WRITING GROUPS MET AT OPEN BOOK. THE MENTOR SERIES FELLOWSHIP IN POETRY AND CREATIVE PROSE AND THE MIRRORS AND WINDOWS FELLOWSHIP SERVED TWELVE AND THIRTEEN COMPETITIVELY SELECTED EMERGING ARTISTS RESPECTIVELY. 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. THE WRITERS WERE COMPETITIVELY SELECTED FOR AWARDS IN CREATIVE PROSE AND CHILDREN'S LITERATURE FOR AGE 8+. THROUGH STRATEGIC PARTNERSHIPS, THE LOFT LEVERAGED ITS RESOURCES AND EXPERTISE IN SUPPORT OF KEY ALLIES IN THE LITERARY ECOSYSTEM INCLUDING CAVE CANEM, MIZNA, MORE THAN A SINGLE STORY, AND TRUARTSSPEAKS. EACH STRATEGIC PARTNERSHIP FEATURES MULTIPLE TOUCHPOINTS DURING THE YEAR WHICH CAN TAKE THE FORM OF EVENTS AND CLASSES OFFERED IN PARTNERSHIP AS WELL AS THE USE OF SPACE AND PARTICIPATION IN LOFT PROGRAMS. THE ORGANIZATION ALSO WELCOMED MAYFLY DESIGN, A BOOK DESIGN FIRM, AND STUDIO AMERICANA, A PODCAST AND AUDIO-BOOK PRODUCER, AS CO-LOCATING PARTNERS. FORM 990, PART III, LINE 4B LEARNING FOR WRITERS AND READERS THE ORGANIZATION OFFERED A VARIETY OF LEARNING OPPORTUNITIES FOR WRITERS AND READERS DURING FISCAL YEAR 2023. ADULTS AND YOUTH (AGES 6-90+) 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. ALL CLASSES WERE TAUGHT BY ACCOMPLISHED WRITERS AND LITERARY PROFESSIONALS. THIS YEAR, THE ORGANIZATION SERVED 2890 ADULTS AND 347 YOUTH IN 459 CLASSES AND WORKSHOPS, SCHOOLS AND COMMUNITY PROGRAMS. ANOTHER 60 WRITERS TOOK ADVANTAGE OF MANUSCRIPT REVIEW OR ONE-ON-ONE COACHING SERVICES OFFERED BY THE LOFT. TO MITIGATE FINANCIAL BARRIERS TO PARTICIPATION IN CREATIVE WRITING LEARNING OPPORTUNITIES, THE ORGANIZATION PROVIDED REDUCED PRICE ACCESS TO LEARNING OPPORTUNITIES (VALUED AT $42,578). FORM 990, PART III, LINE 4C 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 1623 PARTICIPATED IN 16 EVENTS (INCLUDING WORDPLAY 2023, WHICH OFFERED 23 EVENTS IN ONE), FEATURING A TOTAL OF 156 ARTISTS AND THOUGHT LEADERS. FORM 990, PART VI, SECTION B, LINE 11B PROCESS THE ORGANIZATION USES TO REVIEW THE 990 AN INITIAL DRAFT OF THE 990 IS REVIEWED IN DETAIL BY THE FINANCE COMMITTEE OF THE BOARD. AFTER CHANGES OR CORRECTIONS, IF NEEDED, THE NEAR FINAL DRAFT OF THE 990 IS DISTRIBUTED TO THE FULL BOARD IN PRE-READ MATERIAL PRIOR TO THE FIRST BOARD MEETING AFTER FINANCE COMMITTEE REVIEW. THE TREASURER/FINANCE COMMITTEE CHAIR REVIEWS THE DOCUMENT FOR THE BOARD WITH ASSISTANCE OF REPRESENTATIVES FROM THE INDEPENDENT AUDITORS, IF NEEDED. BOARD MEMBERS ARE INVITED TO ASK QUESTIONS AND SUBMIT ANY FURTHER CORRECTIONS. THE TREASURER RECOMMENDS APPROVAL OF THE 990 (WITH CHANGES, AS NEEDED) AND A FULL VOTE OF THE BOARD IS CALLED. THE BOARD MUST APPROVE THE 990 BEFORE IT IS SUBMITTED. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST POLICY EACH YEAR, TYPICALLY AT THE FIRST MEETING OF THE FISCAL YEAR AS A 'STANDING AGENDA ITEM,' ALL BOARD MEMBERS ARE ASKED TO REVIEW THE CONFLICT OF INTEREST POLICY FOR THE PURPOSE OF STATING AND/OR UPDATING THEIR DISCLOSURES, AND TO SIGN AND DATE THE FORM. FORM 990, PART VI, SECTION B, LINE 15A PROCEDURE TO MAKE DECISIONS REGARDING EXECUTIVE AND STAFF COMPENSATION RELYING IN SUBSTANTIAL PART ON THE BI-ANNUAL SURVEY OF NON-PROFIT SALARIES CONDUCTED AND PUBLISHED BY THE MINNESOTA COUNCIL OF NON-PROFITS, THE BOARD OF DIRECTORS' EXECUTIVE COMMITTEE ESTABLISHES THE SALARY FOR THE EXECUTIVE DIRECTOR, WITHIN THE LIMITS ESTABLISHED BY THE BOARD OF DIRECTORS IN APPROVING THE ORGANIZATION'S BUDGET. THE EXECUTIVE DIRECTOR IN TURN, USES THE SAME PROCEDURE FOR ESTABLISHING SALARIES FOR ALL OTHER STAFF. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS THE ORGANIZATION MAKES ITS FINANCIAL STATEMENTS AND 990 AVAILABLE TO THE PUBLIC ON ITS WEBSITE. THE GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE HELD AT THE ORGANIZATION'S OFFICES AND ARE AVAILABLE UPON REQUEST.