True Friends Foundation

Organization Overview

True Friends Foundation is located in Annandale, MN. The organization was established in 1992. According to its NTEE Classification (N20) the organization is classified as: Camps, under the broad grouping of Recreation & Sports and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. True Friends Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.

For the year ending 12/2023, True Friends Foundation generated $766.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (10.5%) each year. All expenses for the organization totaled $780.5k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (7.2%) per year over the past 9 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2023

Describe the Organization's Mission:

Part 3 - Line 1

TO HOLD AND MANAGE INVESTMENTS AND OTHER PROPERTY FOR THE BENEFIT OF TRUE FRIENDS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THIS FOUNDATION IS ORGANIZED EXCLUSIVELY FOR THE BENEFIT OF TRUE FRIENDS, A MINNESOTA CORPORATION, AND TO THESE ENDS TO TAKE HOLD BY BEQUEST, DEVISE, GIFT, GRANT, PURCHASE, LEASE OR OTHERWISE ANY PROPERTY, REAL OR PERSONAL, TANGIBLE OR INTANGIBLE AND TO SELL, CONVEY OR OTHERWISE DISPOSE OF SUCH PROPERTY AND INVEST, REINVEST OR DEAL WITH SUCH PROPERTY IN A MANNER WHICH PROMOTES THE PURPOSES HEREIN MENTIONED.


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Board, Officers & Key Employees

Name (title)Compensation
Steven Lacke
Board Member
$0
Mary Kemp Murray
Chair
$0
Mark Feriancek
Treasurer
$0
Lon Bencini
Secretary
$0
Jody Estensen
Board Member
$0
Joe Hanson
Board Member
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$95,758
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$95,758
Total Program Service Revenue$0
Investment income $252,252
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $418,828
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $766,838

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