Civic Intelligence

True Friends Foundation

EIN 41-1645512 • 501(c)3 • Annandale, MN

Profile

To raise money by building strong relationships with individuals, by providing products and services that make it easy to give and by proudent investment of endowment funds.

10509 108th Street NWAnnandale, MN 55302

www.truefriends.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

7th percentile

0.00x

Higher debt load relative to assets than 7% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2024

Liabilities / Revenue

11th percentile

0.03x

Higher debt load relative to revenue than 11% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2024

Net Margin

92nd percentile

61%

Higher net margin than 92% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

75th percentile

15%

Faster asset growth than 75% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Revenue Growth

94th percentile

114%

Faster revenue growth than 94% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Assets

Up

$27,077,501

Up $3,489,168 (+15%) from 2023

Liabilities

Down

$47,326

Down $2,336 (-4.7%) from 2023

Net Assets

Up

$27,030,175

Up $3,491,504 (+15%) from 2023

Revenue

Up

$1,638,211

Up $871,373 (+114%) from 2023

Expenses

Down

$635,718

Down $144,767 (-19%) from 2023

Net Income

Up

$1,002,493

Up $1,016,140 (+7446%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$30M$20M$10M$0Assets 2011: $1,509,469Liabilities 2011: $164,219Net Assets 2011: $1,345,2502011Assets 2012: $9,171,584Liabilities 2012: $159,057Net Assets 2012: $9,012,5272012Assets 2013: $9,494,781Liabilities 2013: $161,725Net Assets 2013: $9,333,0562013Assets 2014: $11,020,268Liabilities 2014: $1,301,796Net Assets 2014: $9,718,4722014Assets 2015: $10,167,150Liabilities 2015: $175,608Net Assets 2015: $9,991,5422015Assets 2016: $9,764,132Liabilities 2016: $152,874Net Assets 2016: $9,611,2582016Assets 2017: $10,267,106Liabilities 2017: $95,270Net Assets 2017: $10,171,8362017Assets 2018: $9,305,882Liabilities 2018: $94,617Net Assets 2018: $9,211,2652018Assets 2019: $24,494,596Liabilities 2019: $64,446Net Assets 2019: $24,430,1502019Assets 2020: $24,757,150Liabilities 2020: $52,066Net Assets 2020: $24,705,0842020Assets 2021: $27,593,438Liabilities 2021: $79,048Net Assets 2021: $27,514,3902021Assets 2022: $22,566,360Liabilities 2022: $124,026Net Assets 2022: $22,442,3342022Assets 2023: $23,588,333Liabilities 2023: $49,662Net Assets 2023: $23,538,6712023Assets 2024: $27,077,501Liabilities 2024: $47,326Net Assets 2024: $27,030,1752024

Highlighted filing

2024

Assets$27,077,501
Liabilities$47,326
Net Assets$27,030,175

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$15M$10M$5.0M$0-$5.0MRevenue 2011: $173,116Expenses 2011: $182,263Net Income 2011: -$9,1472011Revenue 2012: $7,693,489Expenses 2012: $147,005Net Income 2012: $7,546,4842012Revenue 2013: $709,576Expenses 2013: $783,258Net Income 2013: -$73,6822013Revenue 2014: $494,777Expenses 2014: $1,118,244Net Income 2014: -$623,4672014Revenue 2015: $2,082,274Expenses 2015: $1,527,108Net Income 2015: $555,1662015Revenue 2016: $523,137Expenses 2016: $1,340,893Net Income 2016: -$817,7562016Revenue 2017: $831,150Expenses 2017: $970,987Net Income 2017: -$139,8372017Revenue 2018: $810,388Expenses 2018: $835,758Net Income 2018: -$25,3702018Revenue 2019: $14,743,543Expenses 2019: $722,905Net Income 2019: $14,020,6382019Revenue 2020: $825,527Expenses 2020: $2,235,595Net Income 2020: -$1,410,0682020Revenue 2021: $1,022,490Expenses 2021: $655,359Net Income 2021: $367,1312021Revenue 2022: $1,020,726Expenses 2022: $652,119Net Income 2022: $368,6072022Revenue 2023: $766,838Expenses 2023: $780,485Net Income 2023: -$13,6472023Revenue 2024: $1,638,211Expenses 2024: $635,718Net Income 2024: $1,002,4932024

Highlighted filing

2024

Revenue$1,638,211
Expenses$635,718
Net Income$1,002,493

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$27.1$0.05$27.0$1.64$0.64$1.00
2023Detailed filing. Detailed filing data is available for this year.$23.6$0.05$23.5$0.77$0.78$0.01
2022Detailed filing. Detailed filing data is available for this year.$22.6$0.12$22.4$1.02$0.65$0.37
2021Detailed filing. Detailed filing data is available for this year.$27.6$0.08$27.5$1.02$0.66$0.37
2020Detailed filing. Detailed filing data is available for this year.$24.8$0.05$24.7$0.83$2.24$1.41
2019Detailed filing. Detailed filing data is available for this year.$24.5$0.06$24.4$14.7$0.72$14.0
2018Detailed filing. Detailed filing data is available for this year.$9.31$0.09$9.21$0.81$0.84$0.03
2017Detailed filing. Detailed filing data is available for this year.$10.3$0.10$10.2$0.83$0.97$0.14
2016Detailed filing. Detailed filing data is available for this year.$9.76$0.15$9.61$0.52$1.34$0.82
2015Detailed filing. Detailed filing data is available for this year.$10.2$0.18$9.99$2.08$1.53$0.56
2014Summary only. Only limited summary data is available for this year.$11.0$1.30$9.72$0.49$1.12$0.62
2013Detailed filing. Detailed filing data is available for this year.$9.49$0.16$9.33$0.71$0.78$0.07
2012Summary only. Only limited summary data is available for this year.$9.17$0.16$9.01$7.69$0.15$7.55
2011Summary only. Only limited summary data is available for this year.$1.51$0.16$1.35$0.17$0.18$0.01
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Oct 22, 2025
Return Version
2024v5.2
Gross Receipts
$6,352,951
Mission and Program Overview

Mission

To hold and manage investments and other property for the benefit of true friends.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$9,479,823$10,459,251▲ $979,428
Savings and Temporary Cash Investments$80,622$81,230▲ $608
Total Assets$23,588,333$27,077,501▲ $3,489,168
Other Assets Total$14,027,888$16,537,020▲ $2,509,132
Liabilities
Deferred Revenue$49,662$47,326▼ $2,336
Total Liabilities$49,662$47,326▼ $2,336
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$17,559,535$20,578,399▲ $3,018,864
Net Assets With Donor Restrictions$5,979,136$6,451,776▲ $472,640
Total Net Assets Fund Balance$23,538,671$27,030,175▲ $3,491,504
Total Liabilities and Net Assets / Fund Balance$23,588,333$27,077,501▲ $3,489,168

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$189,822--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2024$7,712,716$65,329▲ $1,143,034-$9,428,107
2023$7,232,571-▲ $1,067,869-$7,712,716
2022$8,923,777-▼ $687,571-$7,232,571
2021$9,671,094$117,419▲ $1,236,839$1,500,000$8,923,777
2020$9,297,417$158,497▲ $687,933-$9,671,094
Compensation and Service Providers

Board Members and Trustees

NameTitle
Mary Kemp MurrayChair
John LeblancPresident & CEO
Chris JudsonVice Chair
Brent MillerBoard Member
Debra PenrodBoard Member
Jennifer ThalhuberBoard Member
Jody EstensonBoard Member
Joe HansonBoard Member
Josh StormsBoard Member
Nick WilkieBoard Member
Peter RundquistBoard Member
Lon BenciniSecretary
Mark FeriancekTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$531,759
Program Service Revenue
$0
Investment Income
$1,106,452
Other Revenue
$0
All Other Contributions
$531,759
Change in Net Assets
$1,002,493
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$576,000
Other Expenses$59,718
Total Fundraising Expense$59,718
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$576,000--$576,000
Fees for Service Investment Mgmnt Fees--$59,718$59,718
Total Functional Expenses$576,000$0$59,718$635,718
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
True FriendsAnnandale, MN501(c)(3)General Support for Operations/fee Abatement Program$576,000
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 1A

The executive committee is composed of at least three directors designated by the board of directors. The executive committee has the authority of the board of directors in the management of the business of this corporation in the interval between meetings of the board of directors. All board members are invited to attend executive committee meetings to participate in discussion but only the executive committee members are able to vote.

Form 990, Part VI, Section B, Line 11B

Prior to the filing of the form 990, a complete draft is reviewed and approved by the true friends foundation board of directors. Upon approval, the accounting firm prepares and submits the final copy which is signed and filed.

Form 990, Part VI, Section B, Line 12C

Each year all board members sign a "conflict of interest" form identifying any possible conflict of interest that may exist. If a topic is discussed that involves a current board member, the board member and/or the board chair must disclose the conflict and the board member must refrain from participating in the discussion and abstain from voting as reflected in the board minutes. If a conflict of interest arises after a vote, the board would need to revisit the issue.

Form 990, Part VI, Section B, Line 15A

The executive committee of the board is responsible for reviewing and determining compensation of the ceo. All performance data required for the evaluation will be completed no later than the end of february. The evaluation, bonus and salary change recommendations will be completed by the end of march and implemented in april. The committee has the authority to complete the process and report to the respective boards as soon as possible. Increases to compensation will be based on overall performance of both the job description and other predetermined objectives. The pay schedule will be evaluated annually and compared to related external industry data. Any compensation action is at the discretion of the executive committee and can be amended, made temporarily inactive, or voided at any time based on financial position of either true friends or true friends foundation. The last time this process was undertaken was march 2024.

Form 990, Part VI, Section C, Line 19

The articles of incorporation, bylaws and conflict of interest policy are available to the public upon request, but it is not stated publicly. The financial statements are available upon request which is publicly stated in the annual report.

Filing and Contact Details

Filer

Filer Name
True Friends Foundation
EIN
41-1645512
Phone
9528520101
Address
10509 108TH STREET NW, ANNANDALE, MN 55302

Signing Officer

Name
John Leblanc
Title
President & CEO
Phone
9528520101
Signed
2025-10-22

Organization Details

Principal Officer
John Leblanc
Formed
1989
Legal Domicile
Mn
Voting Board Members
13
Independent Board Members
13
Employees
0
Volunteers
12

Preparer

Firm
Smith Schafer & Associates Ltd
Address
7500 HIGHWAY 55 SUITE 350, MINNEAPOLIS, MN 55427
Preparer
Nathan Agre CPA
Phone
9529201455
Supplemental Narrative

Additional Explanations

Form 990, Part XII Line 2C

The process has not changed from the previous year.

Financial Statement Notes

PART V, LINE 4:

The organization has various memorial scholarship funds which provide opportunities through abatement of fees for people with disabilities to enjoy outdoor recreational leisure activities through camps operated by true friends. The organization also has general endowments which help support organization programs.

PART X, LINE 2:

The organization is exempt from federal income taxes under section 501(c)(3) of the internal revenue code and similar state income tax laws. The organization is a nonprivate foundation and contributions to the organization qualify as a charitable tax deduction by the contributor. Should that status be challenged in the future, all years since inception would be subject to review of the internal revenue service (irs). The accounting standard on accounting for uncertainty in income taxes addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the consolidated financial statements. Under that guidance, the organization may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities based on the technical merits of the position. Examples of tax positions include the tax exempt status of the organization and various positions related to the potential sources of unrelated business taxable income (ubit). The tax benefits recognized in the consolidated financial statements from such a position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. There were no unrecognized tax benefits identified or recorded as liabilities for the year ended december 31, 2024.

Raw XML AppendixShowing 400 of 507 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/PersonNm1MARY KEMP MURRAY
IRS990/Form990PartVIISectionAGrp/PersonNm2CHRIS JUDSON
IRS990/Form990PartVIISectionAGrp/PersonNm3MARK FERIANCEK
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IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT & CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt1CHAIR
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IRS990/Form990PartVIISectionAGrp/TitleTxt3TREASURER
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IRS990/Form990PartVIISectionAGrp/TitleTxt6BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt7BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt8BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt9BOARD MEMBER
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IRS990/GrossAmountSalesAssetsGrp/SecuritiesAmt05580005
IRS990/GrossReceiptsAmt06352951
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd00
IRS990/IndependentVotingMemberCnt013
IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InvestmentIncomeGrp/ExclusionAmt0241187
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0241187
IRS990/InvestmentInJointVentureInd00
IRS990/InvestmentsPubTradedSecGrp/BOYAmt09479823
IRS990/InvestmentsPubTradedSecGrp/EOYAmt010459251
IRS990/IRPDocumentCnt00
IRS990/IRPDocumentW2GCnt00
IRS990/LegalDomicileStateCd0MN
IRS990/LessCostOthBasisSalesExpnssGrp/SecuritiesAmt04714740
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0TO RAISE MONEY BY BUILDING STRONG RELATIONSHIPS WITH INDIVIDUALS, BY PROVIDING PRODUCTS AND SERVICES THAT MAKE IT EASY TO GIVE AND BY PRUDENT INVESTMENT OF ENDOWMENT FUNDS.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt023538671
IRS990/NetAssetsOrFundBalancesEOYAmt027030175
IRS990/NetGainOrLossInvestmentsGrp/RelatedOrExemptFuncIncomeAmt0865265
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0865265
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NetUnrlzdGainsLossesInvstAmt02489011
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt017559535
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt020578399
IRS990/NondeductibleContributionsInd00
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt014027888
IRS990/OtherAssetsTotalGrp/EOYAmt016537020
IRS990/OtherChangesInNetAssetsAmt00
IRS990/PartialLiquidationInd00
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0JOHN LEBLANC
IRS990/ProfessionalFundraisingInd00
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt095758
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt0725132
IRS990/PYInvestmentIncomeAmt0671080
IRS990/PYOtherExpensesAmt055353
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt0-13647
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt0780485
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0766838
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt01002493
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt080622
IRS990/SavingsAndTempCashInvstGrp/EOYAmt081230
IRS990ScheduleA/Form990SchASupportingOrgGrp/Contribution35ControlledInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionControllerInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionFamilyInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ControlledDisqualifiedPrsnInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnControllIntInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnOwnrIntInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ExcessBusinessHoldingsRulesInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ListedByNameGoverningDocInd01
IRS990ScheduleA/Form990SchASupportingOrgGrp/LoanDisqualifiedPersonInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/OrganizationChangeSuprtOrgInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/PaymentSubstantialContribtrInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgNotOrganizedUSInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgSectionC456Ind00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportNonSupportedOrgInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SuprtOrgNoIRSDeterminationInd00
IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/OperateBenefitNonSuprtOrgInd00
IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/PowerAppointMajorityDirTrstInd00
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0THE TRUE FRIENDS FOUNDATION WAS ESTABLISHED FOR THE PURPOSE OF RAISING FUNDS TO SUPPORT TRUE FRIENDS SERVICES. AT A MINIMUM, THE TRUE FRIENDS CEO, BOARD CHAIR, AND BOARD TREASURER WILL ALSO SIT ON THE TRUE FREINDS FOUNDATION BOARD OF DIRECTORS, AS DESCRIBED IN THE ARTICLES OF INCORPORATION ARTICLE XII, PARAGRAPH D AND E AND BYLAWS, ARTICLE II, SECTION 2 AND SECTION 12.B
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART IV LINE 1
IRS990ScheduleA/IRSWrittenDeterminationInd0X
IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/SupportedOrganizationsCnt01
IRS990ScheduleA/SupportedOrganizationsTotalCnt01
IRS990ScheduleA/SupportedOrgInformationGrp/EIN0411543013
IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd01
IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeCd07
IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt0576000
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0TRUE FRIENDS
IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType1Ind0X
IRS990ScheduleA/SupportSumAmt0576000
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/BoardDesignatedBalanceEOYPct00.31570
IRS990ScheduleD/CYEndwmtFundGrp/AdministrativeExpensesAmt0-68972
IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt07712716
IRS990ScheduleD/CYEndwmtFundGrp/ContributionsAmt065329
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt09428107
IRS990ScheduleD/CYEndwmtFundGrp/GrantsOrScholarshipsAmt0576000
IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt01143034
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt07232571
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt07712716
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/GrantsOrScholarshipsAmt0587724
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt01067869
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt08923777
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt07232571
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/GrantsOrScholarshipsAmt01003635
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0-687571
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt09671094
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/ContributionsAmt0117419
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt08923777
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/GrantsOrScholarshipsAmt0601575
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt01236839
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/OtherExpendituresAmt01500000
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/BeginningYearBalanceAmt09297417
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/ContributionsAmt0158497
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt09671094
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/GrantsOrScholarshipsAmt0472753
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0687933
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd00
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd00
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt016347198
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1189822
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0BENEFICIAL INTEREST IN LONG-TERM TRUST
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1DUE FROM RELATED PARTIES
IRS990ScheduleD/PrmnntEndowmentBalanceEOYPct00.42330
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION HAS VARIOUS MEMORIAL SCHOLARSHIP FUNDS WHICH PROVIDE OPPORTUNITIES THROUGH ABATEMENT OF FEES FOR PEOPLE WITH DISABILITIES TO ENJOY OUTDOOR RECREATIONAL LEISURE ACTIVITIES THROUGH CAMPS OPERATED BY TRUE FRIENDS. THE ORGANIZATION ALSO HAS GENERAL ENDOWMENTS WHICH HELP SUPPORT ORGANIZATION PROGRAMS.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND SIMILAR STATE INCOME TAX LAWS. THE ORGANIZATION IS A NONPRIVATE FOUNDATION AND CONTRIBUTIONS TO THE ORGANIZATION QUALIFY AS A CHARITABLE TAX DEDUCTION BY THE CONTRIBUTOR. SHOULD THAT STATUS BE CHALLENGED IN THE FUTURE, ALL YEARS SINCE INCEPTION WOULD BE SUBJECT TO REVIEW OF THE INTERNAL REVENUE SERVICE (IRS). THE ACCOUNTING STANDARD ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES ADDRESSES THE DETERMINATION OF WHETHER TAX BENEFITS CLAIMED OR EXPECTED TO BE CLAIMED ON A TAX RETURN SHOULD BE RECORDED IN THE CONSOLIDATED FINANCIAL STATEMENTS. UNDER THAT GUIDANCE, THE ORGANIZATION MAY RECOGNIZE THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY TAXING AUTHORITIES BASED ON THE TECHNICAL MERITS OF THE POSITION. EXAMPLES OF TAX POSITIONS INCLUDE THE TAX EXEMPT STATUS OF THE ORGANIZATION AND VARIOUS POSITIONS RELATED TO THE POTENTIAL SOURCES OF UNRELATED BUSINESS TAXABLE INCOME (UBIT). THE TAX BENEFITS RECOGNIZED IN THE CONSOLIDATED FINANCIAL STATEMENTS FROM SUCH A POSITION ARE MEASURED BASED ON THE LARGEST BENEFIT THAT HAS A GREATER THAN 50% LIKELIHOOD OF BEING REALIZED UPON ULTIMATE SETTLEMENT. THERE WERE NO UNRECOGNIZED TAX BENEFITS IDENTIFIED OR RECORDED AS LIABILITIES FOR THE YEAR ENDED DECEMBER 31, 2024.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART V, LINE 4:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART X, LINE 2:
IRS990ScheduleD/TermEndowmentBalanceEOYPct00.26100
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalBookValueOtherAssetsAmt016537020
IRS990ScheduleI/GrantRecordsMaintainedInd00
IRS990ScheduleI/RecipientTable/CashGrantAmt0576000
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501(C)(3)
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0GENERAL SUPPORT FOR OPERATIONS/FEE ABATEMENT PROGRAM
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0TRUE FRIENDS
IRS990ScheduleI/RecipientTable/RecipientEIN0411543013
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt010509 108TH STREET NW
IRS990ScheduleI/RecipientTable/USAddress/CityNm0ANNANDALE
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0MN
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd055302
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0TRUE FRIENDS FOUNDATION IS A 509(A)(3) SUPPORTING ORGANIZATION OF TRUE FRIENDS, A 501(C)(3) PUBLIC CHARITABLE ORGANIZATION. TRUE FRIENDS FOUNDATION IS ORGANIZED EXCLUSIVELY FOR THE BENEFIT OF TRUE FRIENDS AND MANAGES INVESTMENTS FOR THEM. THE TWO ORGANIZATIONS ARE UNDER COMMON MANAGEMENT.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE 1 PART 1 LINE 2: TRUE FRIENDS FOUNDATION
IRS990ScheduleI/Total501c3OrgCnt01
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt0169800
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0JOHN LEBLANC
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT & CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0169800
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE EXECUTIVE COMMITTEE IS COMPOSED OF AT LEAST THREE DIRECTORS DESIGNATED BY THE BOARD OF DIRECTORS. THE EXECUTIVE COMMITTEE HAS THE AUTHORITY OF THE BOARD OF DIRECTORS IN THE MANAGEMENT OF THE BUSINESS OF THIS CORPORATION IN THE INTERVAL BETWEEN MEETINGS OF THE BOARD OF DIRECTORS. ALL BOARD MEMBERS ARE INVITED TO ATTEND EXECUTIVE COMMITTEE MEETINGS TO PARTICIPATE IN DISCUSSION BUT ONLY THE EXECUTIVE COMMITTEE MEMBERS ARE ABLE TO VOTE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1PRIOR TO THE FILING OF THE FORM 990, A COMPLETE DRAFT IS REVIEWED AND APPROVED BY THE TRUE FRIENDS FOUNDATION BOARD OF DIRECTORS. UPON APPROVAL, THE ACCOUNTING FIRM PREPARES AND SUBMITS THE FINAL COPY WHICH IS SIGNED AND FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2EACH YEAR ALL BOARD MEMBERS SIGN A "CONFLICT OF INTEREST" FORM IDENTIFYING ANY POSSIBLE CONFLICT OF INTEREST THAT MAY EXIST. IF A TOPIC IS DISCUSSED THAT INVOLVES A CURRENT BOARD MEMBER, THE BOARD MEMBER AND/OR THE BOARD CHAIR MUST DISCLOSE THE CONFLICT AND THE BOARD MEMBER MUST REFRAIN FROM PARTICIPATING IN THE DISCUSSION AND ABSTAIN FROM VOTING AS REFLECTED IN THE BOARD MINUTES. IF A CONFLICT OF INTEREST ARISES AFTER A VOTE, THE BOARD WOULD NEED TO REVISIT THE ISSUE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE EXECUTIVE COMMITTEE OF THE BOARD IS RESPONSIBLE FOR REVIEWING AND DETERMINING COMPENSATION OF THE CEO. ALL PERFORMANCE DATA REQUIRED FOR THE EVALUATION WILL BE COMPLETED NO LATER THAN THE END OF FEBRUARY. THE EVALUATION, BONUS AND SALARY CHANGE RECOMMENDATIONS WILL BE COMPLETED BY THE END OF MARCH AND IMPLEMENTED IN APRIL. THE COMMITTEE HAS THE AUTHORITY TO COMPLETE THE PROCESS AND REPORT TO THE RESPECTIVE BOARDS AS SOON AS POSSIBLE. INCREASES TO COMPENSATION WILL BE BASED ON OVERALL PERFORMANCE OF BOTH THE JOB DESCRIPTION AND OTHER PREDETERMINED OBJECTIVES. THE PAY SCHEDULE WILL BE EVALUATED ANNUALLY AND COMPARED TO RELATED EXTERNAL INDUSTRY DATA. ANY COMPENSATION ACTION IS AT THE DISCRETION OF THE EXECUTIVE COMMITTEE AND CAN BE AMENDED, MADE TEMPORARILY INACTIVE, OR VOIDED AT ANY TIME BASED ON FINANCIAL POSITION OF EITHER TRUE FRIENDS OR TRUE FRIENDS FOUNDATION. THE LAST TIME THIS PROCESS WAS UNDERTAKEN WAS MARCH 2024.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ARTICLES OF INCORPORATION, BYLAWS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE TO THE PUBLIC UPON REQUEST, BUT IT IS NOT STATED PUBLICLY. THE FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST WHICH IS PUBLICLY STATED IN THE ANNUAL REPORT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE PROCESS HAS NOT CHANGED FROM THE PREVIOUS YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 1A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XII LINE 2C
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd01
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0TRUE FRIENDS
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0411543013
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)

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