True Friends

Analysis

True Friends is a registered charity in United States, based in Annandale, MN. It received its IRS tax-exemption ruling in May 1986, 40 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, True Friends reported income of $13.3m and spending of $8.1m, leaving 39% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $9.2m to $13.3m (+45%), an average of +9.7% a year. The sharpest change came in the year to December 2023, when income rose by 100%. Over the whole period it spent 82% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, True Friends sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within MN. Charities of a similar size with the same main cause include Grassroot Soccer Inc ($13.1m), Lakeshore Park Conservancy ($13.5m) and Great Lakes Indian Fish and Wildlife Commission ($13.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 63% and program service revenue 34% of the total. Compensation of current officers, directors and key employees was $374k (4.6% of expenses). Other salaries and wages came to $3.7m. It paid $22k in professional fundraising fees. At year end it held assets of $21.9m against liabilities of $1.2m, net assets of $20.7m. It reported 335 employees.