2023-09-08T13:14:29-05:00 2022-12-31 410746749 CLIFTONLARSONALLEN LLP 4150 2ND STREET SOUTH SUITE 400 ST CLOUD MN 56301 990 2022-01-01 411645512 TRUE FRIENDS FOUNDATION TRUE 9528520101 10509 108TH STREET NW ANNANDALE MN 55302 JOHN LEBLANC PRESIDENT & CEO 9528520101 2023-08-29 1 JOHN LEBLANC 999009999 0 KRISTIN L SCHMIDT CPA P01487323 3202035500 2023-08-29 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z JOHN LEBLANC 10509 108TH STREET NW ANNANDALE MN 55302 4480546 0 X WWW.TRUEFRIENDS.ORG X 1989 MN TO HOLD AND MANAGE INVESTMENTS AND OTHER PROPERTY FOR THE BENEFIT OF TRUE FRIENDS. 12 12 0 13 0 0 117419 386664 0 0 905071 634062 0 0 1022490 1020726 601728 596676 0 0 0 0 0 0 55443 53631 55443 655359 652119 367131 368607 27593438 22566360 79048 124026 27514390 22442334 TO 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. 0 0 596676 596676 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. 596676 1 1 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 12 12 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 1 0 0 MN X JOHN LEBLANC 9528520101 10509 108TH STREET NW ANNANDALE MN 55302 STEVEN LACKE CHAIR 2.00 X X 0 0 0 MARY KEMP MURRAY VICE CHAIR 2.00 X X 0 0 0 GAYLEN GHYLIN TREASURER 2.00 2.00 X X 0 0 0 LON BENCINI SECRETARY 2.00 X X 0 0 0 JODY ESTENSEN BOARD MEMBER 2.00 X 0 0 0 JOE HANSON BOARD MEMBER 2.00 X 0 0 0 CHRIS JUDSON BOARD MEMBER 2.00 X 0 0 0 BRENT MILLER BOARD MEMBER 2.00 X 0 0 0 JOSH STORMS BOARD MEMBER 2.00 X 0 0 0 JENNIFER THALHUBER BOARD MEMBER 2.00 X 0 0 0 LORI TRYGG BOARD MEMBER 2.00 X 0 0 0 MARY ELLEN WELLS BOARD MEMBER 2.00 2.00 X 0 0 0 JOHN LEBLANC PRESIDENT & CEO 8.00 32.00 X 0 157545 1145 0 157545 1145 1 0 1 0 0 386664 386664 222404 222404 3871478 3459820 411658 411658 411658 1020726 0 0 634062 596676 596676 55443 55443 652119 596676 0 55443 152425 237838 9956109 8912581 17484904 13415941 27593438 22566360 50212 53518 28836 70508 79048 124026 X 21673186 16916385 5841204 5525949 27514390 22442334 27593438 22566360 X 368607 -1371700 -4068963 X 0 1 X 1 0 X X X 1 TRUE FRIENDS 411543013 7 1 596676 0 1 596676 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 SECTION B. TYPE I SUPPORTING ORGANIZATIONS - PART IV LINE1 THE 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 FRIENDS 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. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 8923777 -687571 -1003635 7232571 9671094 117419 1236839 601575 1500000 8923777 9297417 158497 687933 472753 9671094 8029447 316376 1604275 652681 9297417 8801407 318644 -474243 616361 8029447 0.32698 0.53501 0.13801 0 0 0 BENEFICIAL INTEREST IN LONG-TERM TRUST 13415941 13415941 DUES TO RELATED PARTIES 70508 70508 X 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, 2022. 0 TRUE FRIENDS 10509 108TH STREET NW ANNANDALE MN 55302 411543013 501(C)(3) 596676 0 N/A N/A GENERAL SUPPORT FOR OPERATIONS/ FEE ABATEMENT PROGRAM 1 SCHEDULE I, PART 1, LINE 2: TRUE FRIENDS FOUNDATION TRUE 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. 0 0 0 0 0 0 0 0 0 JOHN LEBLANC PRESIDENT & CEO 0 157545 0 0 0 0 0 0 0 0 0 157545 0 0 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 2022. 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. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF TRUSTS -4,068,963. TRUE FRIENDS 10509 108TH STREET NORTHWEST ANNANDALE MN 55302 411543013 CAMPING AND RESPITE SERVICES MN 501(C)(3) LINE 7 N/A 0 0 1 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 0 TRUE FRIENDS B 596676 CASH PAID