The Loft Inc

“Summary of changes made to the organization's bylaws: no director shall serve more than two (2) consecutive terms on the board unless the director is assuming an officer position. In these circumstances, the director may be elected to serve one additional year.”

“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.”

“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.”

“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, including the senior director, finance & operations.”

“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.”

“The loft discontinued its large-scale literary festival, wordplay, in fy24. We launched a new subscription based online learning and community building platform, lit!commons, with much of the year used to build-out the program before launch. We also put our summer youth programming on hiatus for one year due to capacity issues.”

“Services for writers and the literary community - in fiscal year 2024, 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-one writers made use of the organization's writers' studios while the three organization-sponsored culturally distinct writing groups met at open book. Thirty-three writers received individual manuscript critique or coaching to pursue their writing careers. The mentor series fellowship in poetry and creative prose and the mirrors and windows fellowship served twelve competitively selected emerging artists each. 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 poetry/spoken word and children's literature for younger children. Through strategic partnerships, the loft leveraged its resources and expertise in support of key allies in the literary ecosystem including green card voices, in-na-po (indigenous nations poets), mizna, more than a single story, threads dance project, 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 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.”

“Learning for writers and readers - the organization offered a variety of learning opportunities for writers and readers during fiscal year 2024. 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. This year, the organization launched lit!commons, a new subscription-based virtual learning and gathering space designed to help writers overcome barriers, sharpen skills, develop habits, connect with fellow writers, amplify their creativity, and explore publishing options. Altogether, the loft served an estimated 2,000 adults and 1,000 youth in 475 classes and workshops at open book and online as well as schools, libraries, community programs, and lit!commons.”

“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 1,300 participated in 21 events, featuring a total of 120 artists and literary professionals. To mitigate financial barriers to participation in creative writing learning opportunities and events, the organization provided reduced price access valued at $91,831 in discounted registration and admissions.”