Civic Intelligence

True Friends Foundation

990 • Fiscal year 2019 • EIN 41-1645512

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 13, 2020

10509 108th Street NWAnnandale, MN 55302

(952) 852-0101

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

9th percentile

0.00x

Higher debt load relative to assets than 9% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Liabilities / Revenue

7th percentile

0.00x

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

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Net Margin

98th percentile

95%

Higher net margin than 98% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Top Officer Pay

34th percentile

$134,311

Higher top officer pay than 34% of similar nonprofits.

Top officer pay equals 0.9% of source-year revenue.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Asset Growth

98th percentile

163%

Faster asset growth than 98% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2018 to 2019

Revenue Growth

100th percentile

1719%

Faster revenue growth than 100% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2018 to 2019

Assets

Up

$24,494,596

Up $15,188,714 (+163%) from 2018

Net Assets

Up

$24,430,150

Up $15,218,885 (+165%) from 2018

Liabilities

Down

$64,446

Down $30,171 (-32%) from 2018

Revenue

Up

$14,743,543

Up $13,933,155 (+1719%) from 2018

Expenses

Down

$722,905

Down $112,853 (-14%) from 2018

Net Income

Up

$14,020,638

Up $14,046,008 (+55365%) from 2018

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$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

2019

Assets$24,494,596
Liabilities$64,446
Net Assets$24,430,150

Operations Trend

Revenue, expenses, and net income across loaded years, with this 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

2019

Revenue$14,743,543
Expenses$722,905
Net Income$14,020,638
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 13, 2020
Return Version
2019v5.1
Gross Receipts
$18,514,846
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$9,043,493$10,519,561▲ $1,476,068
Savings and Temporary Cash Investments$248,873$98,551▼ $150,322
Total Assets$9,305,882$24,494,596▲ $15,188,714
Other Assets Total$13,516$13,876,484▲ $13,862,968
Liabilities
Deferred Revenue$35,470$54,180▲ $18,710
Other Liabilities$59,147$10,266▼ $48,881
Total Liabilities$94,617$64,446▼ $30,171
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$4,915,600$19,506,936▲ $14,591,336
Net Assets With Donor Restrictions$4,295,665$4,923,214▲ $627,549
Total Net Assets Fund Balance$9,211,265$24,430,150▲ $15,218,885
Total Liabilities and Net Assets / Fund Balance$9,305,882$24,494,596▲ $15,188,714

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$13,863,523--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2019$8,029,447$316,376▲ $1,604,275-$9,297,417
2018$8,801,407$318,644▼ $474,243-$8,029,447
2017$8,079,834$503,462▲ $1,024,823-$8,801,407
2016$8,119,683$340,769▲ $502,647-$8,079,834
2015$9,105,728$135,477▼ $242,464-$8,119,683
Compensation and Service Providers

Employees

NameTitleFull / Part TimeOtherTotal
John LeblancPresident & CEOPT$134,311$134,311

Board Members and Trustees

NameTitle
Steven LackeChair
Chris FowlerBoard Member
Chris JudsonBoard Member
Jennifer ThalhuberBoard Member
Jody EstensenBoard Member
John BredemusBoard Member
John SilbaughBoard Member
Josh StormsBoard Member
Lon BenciniBoard Member
Mary Kemp MurrayBoard Member
Jonathan GordonEx-officio
Gaylen GhylinTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$14,179,899
Program Service Revenue
$0
Investment Income
$563,634
Other Revenue
$10
All Other Contributions
$14,179,899
Change in Net Assets
$14,020,638
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$663,263
Other Expenses$59,642
Total Fundraising Expense$59,642
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$663,263--$663,263
Fees for Service Investment Mgmnt Fees--$59,642$59,642
Total Functional Expenses$663,263$0$59,642$722,905
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
True FriendsAnnandale, MN501(c)(3)General/fee Abatement Program$663,263
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Dues to Related Parties$10,266
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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 1

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

Consistent with article ii, section 2.2 of the by-laws of true friends foundation, the ceo committee will consist of persons who are incumbent joint members of the board of directors of both true friends and true friends foundation, except that the president & ceo of both organizations shall not be a member of the committee. A quorum for any meeting of the committee shall be the majority of members. The committee will elect a chairperson. All performance data required for evaluation will be completed no later than the end of february. The evaluation, bonus and salary change recommendations, will be completed by the committee by the end of march and implemented in april. The committee will have the authority to complete the process and report to the respective boards as soon as possible. Increase to the 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 is at the discretion of the ceo committee and the board chairs and can be amended, made temporarily inactive or voided at any time based on financial position or either true friends or true friends foundation. The last time this process was undertaken was january 2019.

Form 990, Part VI, Section C, Line 19

The articles of incorporation, by-laws 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
2020-11-13
Discuss with paid preparer
Yes

Organization Details

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

Preparer

Firm
Cliftonlarsonallen Llp
Address
818 SECOND STREET SOUTH SUITE 320, WAITE PARK, MN 56387
Preparer
Kristin L Schmidt CPA
Phone
3202035500
Supplemental Narrative

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, 2019.

Raw XML AppendixShowing 400 of 494 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/TitleTxt0PRESIDENT & CEO
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IRS990/Form990PartVIISectionAGrp/TitleTxt8BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt9BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt10BOARD MEMBER
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IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt09211265
IRS990/NetAssetsOrFundBalancesEOYAmt024430150
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt0322930
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0322930
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NetUnrlzdGainsLossesInvstAmt01198247
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt04915600
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt019506936
IRS990/NondeductibleContributionsInd00
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt013516
IRS990/OtherAssetsTotalGrp/EOYAmt013876484
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherLiabilitiesGrp/BOYAmt059147
IRS990/OtherLiabilitiesGrp/EOYAmt010266
IRS990/OtherRevenueMiscGrp/BusinessCd0812900
IRS990/OtherRevenueMiscGrp/Desc0MISCELLANEOUS
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt010
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt010
IRS990/OtherRevenueTotalAmt010
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0JOHN LEBLANC
IRS990/ProfessionalFundraisingInd00
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0258644
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt0775205
IRS990/PYInvestmentIncomeAmt0491744
IRS990/PYOtherExpensesAmt060553
IRS990/PYOtherRevenueAmt060000
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt0-25370
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt0835758
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0810388
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt014020638
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt010
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0248873
IRS990/SavingsAndTempCashInvstGrp/EOYAmt098551
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 LEAST ONE MEMBER OF THE TRUE FRIENDS FOUNDATION BOARD OF DIRECTORS SHALL BE ELECTED OR APPOINTED BY THE BOARD OF DIRECTORS OF TRUE FRIENDS (THE SUPPORTED ORGANIZATION). IN ADDITION TO THE DIRECTOR NAMED IN THE PREVIOUS SENTENCE, AT LEAST ONE-THIRD (1/3) OF THE MEMBERS OF THE TRUE FRIENDS FOUNDATION BOARD OF DIRECTORS SHALL ALSO BE MEMBERS OF THE TRUE FRIENDS BOARD OF DIRECTORS. IN ADDITION, AT LEAST ONE-THIRD (1/3) OF THE MEMBERS OF THE TRUE FRIENDS FOUNDATION EXECUTIVE COMMITTEE SHALL ALSO BE MEMBERS OF THE TRUE FRIENDS BOARD OF DIRECTORS. AS DESCRIBED IN THE ARTICLES OF INCORPORATION ARTICLE XII, PARAGRAPH D, E, F AND BYLAWS, ARTICLE II, SECTION 2 AND SECTION 12.B.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0SECTION B. TYPE I SUPPORTING ORGANIZATIONS - PART 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/SupportAmt0663263
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0TRUE FRIENDS
IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType1Ind0X
IRS990ScheduleA/SupportSumAmt0663263
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/BoardDesignatedBalanceEOYPct00.37870
IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt08029447
IRS990ScheduleD/CYEndwmtFundGrp/ContributionsAmt0316376
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt09297417
IRS990ScheduleD/CYEndwmtFundGrp/GrantsOrScholarshipsAmt0652681
IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt01604275
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt08801407
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/ContributionsAmt0318644
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt08029447
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/GrantsOrScholarshipsAmt0616361
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0-474243
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt08079834
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/ContributionsAmt0503462
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt08801407
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/GrantsOrScholarshipsAmt0806712
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt01024823
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt08119683
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/ContributionsAmt0340769
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt08079834
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/GrantsOrScholarshipsAmt0883265
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0502647
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/BeginningYearBalanceAmt09105728
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/ContributionsAmt0135477
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt08119683
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/GrantsOrScholarshipsAmt0879058
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0-242464
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd00
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd00
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt012961
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt113863523
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0DUES FROM RELATED PARTIES
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1BENEFICIAL INTEREST IN LONG-TERM TRUST
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt010266
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUES TO RELATED PARTIES
IRS990ScheduleD/PrmnntEndowmentBalanceEOYPct00.50460
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, 2019.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART V, LINE 4:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART X, LINE 2:
IRS990ScheduleD/TermEndowmentBalanceEOYPct00.11670
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalBookValueOtherAssetsAmt013876484
IRS990ScheduleD/TotalLiabilityAmt010266
IRS990ScheduleI/GrantRecordsMaintainedInd00
IRS990ScheduleI/RecipientTable/CashGrantAmt0663263
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501(C)(3)
IRS990ScheduleI/RecipientTable/NonCashAssistanceDesc0N/A
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0GENERAL/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/RecipientTable/ValuationMethodUsedDesc0N/A
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 I, PART 1, LINE 2: TRUE FRIENDS FOUNDATION
IRS990ScheduleI/Total501c3OrgCnt01
IRS990/ScheduleJRequiredInd00
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/ExplanationTxt3CONSISTENT WITH ARTICLE II, SECTION 2.2 OF THE BY-LAWS OF TRUE FRIENDS FOUNDATION, THE CEO COMMITTEE WILL CONSIST OF PERSONS WHO ARE INCUMBENT JOINT MEMBERS OF THE BOARD OF DIRECTORS OF BOTH TRUE FRIENDS AND TRUE FRIENDS FOUNDATION, EXCEPT THAT THE PRESIDENT & CEO OF BOTH ORGANIZATIONS SHALL NOT BE A MEMBER OF THE COMMITTEE. A QUORUM FOR ANY MEETING OF THE COMMITTEE SHALL BE THE MAJORITY OF MEMBERS. THE COMMITTEE WILL ELECT A CHAIRPERSON. ALL PERFORMANCE DATA REQUIRED FOR EVALUATION WILL BE COMPLETED NO LATER THAN THE END OF FEBRUARY. THE EVALUATION, BONUS AND SALARY CHANGE RECOMMENDATIONS, WILL BE COMPLETED BY THE COMMITTEE BY THE END OF MARCH AND IMPLEMENTED IN APRIL. THE COMMITTEE WILL HAVE THE AUTHORITY TO COMPLETE THE PROCESS AND REPORT TO THE RESPECTIVE BOARDS AS SOON AS POSSIBLE. INCREASE TO THE 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 IS AT THE DISCRETION OF THE CEO COMMITTEE AND THE BOARD CHAIRS AND CAN BE AMENDED, MADE TEMPORARILY INACTIVE OR VOIDED AT ANY TIME BASED ON FINANCIAL POSITION OR EITHER TRUE FRIENDS OR TRUE FRIENDS FOUNDATION. THE LAST TIME THIS PROCESS WAS UNDERTAKEN WAS JANUARY 2019.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ARTICLES OF INCORPORATION, BY-LAWS 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/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 1
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
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd01
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0TRUE FRIENDS
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0411543013
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0MN
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0CAMP
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0LINE 7
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt010509 108TH STREET NORTHWEST
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0ANNANDALE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0MN
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd055302
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd01
IRS990ScheduleR/PaidEmployeesSharingInd01
IRS990ScheduleR/PerformOfServicesByOtherOrgInd01
IRS990ScheduleR/PerformOfServicesForOthOrgInd01
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd01

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

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