True Friends Foundation

Analysis

True Friends Foundation is a registered charity in United States, based in Annandale, MN. It received its IRS tax-exemption ruling in August 1992, 34 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, True Friends Foundation reported income of $767k and spending of $780k, spending 102% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $14.7m to $767k (-95%), an average of -52% a year. The sharpest change came in the year to December 2020, when income dropped by 94%. Over the whole period it spent 28% 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 Foundation sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 75th percentile within MN. Charities of a similar size with the same main cause include No Limits Sportsplex ($767k), Cardinal Greenway Inc ($767k) and Iroquois County Agricultural and 4-H Club Fair ($766k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 12% of the total. At year end it held assets of $23.6m against liabilities of $50k, net assets of $23.5m.