Loft Artists Association Inc
Loft Artists Association Inc: Consistent Community Engagement with Financial Stability Concerns
EIN: 222767244 · Stamford, CT · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $147K |
| Total Expenses | $148K |
| Program Spending | 70% |
| Net Assets | $63K |
| Transparency Score | 75/100 |
Is Loft Artists Association Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Loft Artists Association Inc directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Loft Artists Association Inc
Loft Artists Association Inc (EIN: 222767244) is a nonprofit organization based in Stamford, CT. The organization reported total revenue of $147K and total assets of $49K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Loft Artists Association Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Loft Artists Association Inc is a small nonprofit that has been operating for 39 years, with 10 years of IRS 990 filings on record (2014–2023). Revenue has grown at a compound annual rate of -0.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $150K |
| Total Expenses | $148K |
| Surplus / Deficit | +$1K |
| Total Assets | $63K |
| Net Assets | $63K |
| Operating Margin | 1.0% |
| Months of Reserves | 5.1 months |
Financial Health Grade: A
In 2023, Loft Artists Association Inc reported a surplus of $1K with revenue exceeding expenses, holds 5.1 months of operating reserves (adequate).
Financial Trends
Over 10 years of filings (2014–2023), Loft Artists Association Inc's revenue has declined at a compound annual growth rate (CAGR) of -0.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +17.7% | +4.8% | +2.4% |
| 2022 | -9.5% | +1.1% | -18.9% |
| 2021 | +6.5% | +1.4% | +1.0% |
| 2020 | -10.6% | -10.0% | -7.4% |
| 2019 | -1.1% | +8.3% | -6.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 1987 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Loft Artists Association Inc with a Mission Score of 75 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 20%
- programs: 70%
- fundraising: 10%
According to IRS 990 filings, Loft Artists Association Inc allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $1K, with revenue exceeding expenses.
Executive Compensation Analysis
Executive compensation information is not provided in the given data, making an assessment impossible.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Loft Artists Association Inc's IRS 990 filings:
- Expenses frequently exceed revenue, as seen in 2022 ($141,608 expenses vs. $127,355 revenue) and 2019 ($153,415 expenses vs. $147,916 revenue), indicating potential long-term sustainability challenges.
- Total assets have shown a declining trend from $86,144 in 2018 to $48,831 in the most recent filing, suggesting a reduction in financial reserves.
Strengths
The following positive indicators were identified for Loft Artists Association Inc:
- Consistent revenue generation over several years, averaging around $140,000 annually, demonstrates a stable base of support.
- Maintains a physical presence and community engagement in Stamford, CT, as indicated by its location and mission.
- Low liability reported across all years, with $0 in most recent filings, indicating good debt management.
Frequently Asked Questions about Loft Artists Association Inc
Is Loft Artists Association Inc a legitimate charity?
Loft Artists Association Inc (EIN: 222767244) is a registered tax-exempt nonprofit based in Connecticut. Our AI analysis gives it a Mission Score of 75/100. It has 10 years of IRS 990 filings on record. Total revenue: $147K. 2 red flags identified. 3 strengths noted. Financial health grade: A.
How does Loft Artists Association Inc spend its money?
Loft Artists Association Inc directs 70% of its spending to programs and services. Fundraising costs 10%. This meets the 65% industry benchmark.
Are donations to Loft Artists Association Inc tax-deductible?
Loft Artists Association Inc is registered as a tax-exempt nonprofit (EIN: 222767244). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Loft Artists Association Inc's spending goes to programs?
Loft Artists Association Inc directs 70% to programs, 10% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
Where is Loft Artists Association Inc located?
Loft Artists Association Inc is headquartered in Stamford, Connecticut and files with the IRS under EIN 222767244.
How many years of IRS 990 filings does Loft Artists Association Inc have?
Loft Artists Association Inc has 10 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $147K in total revenue.
What does Loft Artists Association Inc do?
Loft Artists Association Inc is a nonprofit organization in the Unknown sector, located in Stamford, Connecticut. It is classified under NTEE code Unknown.
How much revenue does Loft Artists Association Inc have?
Loft Artists Association Inc reported total revenue of $146,694. Based on 10 IRS 990 filings on record.
What are Loft Artists Association Inc's total assets?
Loft Artists Association Inc holds total assets of $48,831 as reported in IRS 990 filings.
Where is Loft Artists Association Inc located?
Loft Artists Association Inc is based in Stamford, Connecticut.
What is Loft Artists Association Inc's EIN?
Loft Artists Association Inc's Employer Identification Number (EIN) is 222767244. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Loft Artists Association Inc?
Loft Artists Association Inc is classified under NTEE code Unknown (Unknown).
Is Loft Artists Association Inc a registered 501(c)(3)?
Loft Artists Association Inc appears in IRS records (EIN: 222767244). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does Loft Artists Association Inc file IRS Form 990?
Yes, Loft Artists Association Inc has 10 IRS Form 990 filings on record. The most recent covers tax period 202312.
What was Loft Artists Association Inc's revenue in 2023?
In the 202312 filing period, Loft Artists Association Inc reported total revenue of $149,845, total expenses of $148,394, and net assets of $62,653.
Is Loft Artists Association Inc's revenue growing or declining?
Loft Artists Association Inc's revenue is growing. Revenue went from $127,355 (202212) to $149,845 (202312), a +17.7% change. Based on 10 filings on record.
What is Loft Artists Association Inc's most recent 990 filing?
The most recent IRS Form 990 filing for Loft Artists Association Inc covers tax period 202312. It shows revenue of $149,845, expenses of $148,394, total assets of $62,653, and liabilities of N/A.
How much does Loft Artists Association Inc spend on programs vs administration?
Based on IRS 990 analysis, Loft Artists Association Inc allocates approximately 70% of expenses to program services, 20% to administrative costs, and 10% to fundraising. Program spending is moderate relative to overhead.
Is Loft Artists Association Inc a trustworthy charity?
Based on AI analysis of IRS 990 data, Loft Artists Association Inc appears trustworthy. Mission Score: 75/100 (Good). 2 red flags identified. 3 strengths noted.
What are the red flags for Loft Artists Association Inc?
The following concerns were identified: Expenses frequently exceed revenue, as seen in 2022 ($141,608 expenses vs. $127,355 revenue) and 2019 ($153,415 expenses vs. $147,916 revenue), indicating potential long-term sustainability challenges.. Total assets have shown a declining trend from $86,144 in 2018 to $48,831 in the most recent filing, suggesting a reduction in financial reserves.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Loft Artists Association Inc's strengths?
Positive indicators for Loft Artists Association Inc include: Consistent revenue generation over several years, averaging around $140,000 annually, demonstrates a stable base of support.. Maintains a physical presence and community engagement in Stamford, CT, as indicated by its location and mission.. Low liability reported across all years, with $0 in most recent filings, indicating good debt management.. These findings are derived from AI analysis of the organization's financial filings.
How does Loft Artists Association Inc compensate executives?
Executive compensation information is not provided in the given data, making an assessment impossible. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
Given the consistent trend of expenses often exceeding revenue, what strategies are in place to ensure long-term financial solvency and prevent further asset depletion?
Without access to detailed financial statements, it's unclear if the organization has specific strategies like endowment building, diversified funding, or cost-cutting measures to address the recurring deficits and declining asset base.
How does the organization measure the impact and reach of its programs, especially considering the consistent but relatively modest revenue, to justify its operational costs?
The provided data does not include program impact metrics, making it difficult to assess the effectiveness and reach of their artistic and community initiatives relative to their expenditures.
Filing History
IRS 990 filing history for Loft Artists Association Inc showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2014–2023), Loft Artists Association Inc's revenue has declined by 2%, moving from $153K to $150K. Total assets increased by 30.4% over the same period, from $48K to $63K. Total functional expenses rose by 2.1%, from $145K to $148K. In its most recent filing year (2023), Loft Artists Association Inc reported a surplus of $1K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $150K | $148K | $63K | $0 | — | View 990 |
| 2022 | $127K | $142K | $61K | $0 | — | View 990 |
| 2021 | $141K | $140K | $75K | $0 | — | View 990 |
| 2020 | $132K | $138K | $75K | $0 | — | — |
| 2019 | $148K | $153K | $81K | $0 | — | View 990 |
| 2018 | $150K | $142K | $86K | $0 | — | View 990 |
| 2017 | $159K | $146K | $78K | $0 | — | View 990 |
| 2016 | $152K | $136K | $75K | $9K | — | View 990 |
| 2015 | $142K | $130K | $60K | $10K | — | View 990 |
| 2014 | $153K | $145K | $48K | $10K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $150K, expenses of $148K, and assets of $63K (revenue +17.7% year-over-year).
- 2022: Revenue of $127K, expenses of $142K, and assets of $61K (revenue -9.5% year-over-year).
- 2021: Revenue of $141K, expenses of $140K, and assets of $75K (revenue +6.5% year-over-year).
- 2020: Revenue of $132K, expenses of $138K, and assets of $75K (revenue -10.6% year-over-year).
- 2019: Revenue of $148K, expenses of $153K, and assets of $81K (revenue -1.1% year-over-year).
- 2018: Revenue of $150K, expenses of $142K, and assets of $86K (revenue -5.7% year-over-year).
- 2017: Revenue of $159K, expenses of $146K, and assets of $78K (revenue +4.4% year-over-year).
- 2016: Revenue of $152K, expenses of $136K, and assets of $75K (revenue +6.8% year-over-year).
- 2015: Revenue of $142K, expenses of $130K, and assets of $60K (revenue -6.9% year-over-year).
- 2014: Revenue of $153K, expenses of $145K, and assets of $48K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Loft Artists Association Inc:
Data Sources and Methodology
This transparency report for Loft Artists Association Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.