Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Aug 1992.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
91 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
Something off? Claim to add context
Who runs it and what they're paid
13 people listed on the 990.
Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2No
- Top official's pay set by an independent reviewPt VI · Ln 15aYes
Programs and updates
Manages investments and property for the benefit of friends.
Questions for True Friends Foundation
Your first name shows with your question. True Friends Foundation answers here, for everyone.
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…
Form 990 Part III, line 4, FY2024. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 41-1645512) · Dispute this lineFunders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2024 990, line by line.
Download 990
| Line | FY24 | FY23 | FY22 | FY21 | FY20 |
|---|---|---|---|---|---|
| End of yearLn 1g | $9.4M | $7.7M | $7.2M | $8.9M | $9.7M |
| AddedLn 1b | $65K | $117K | $158K | ||
| SpentLn 1d–1f | $507K | $588K | $1.0M | $2.1M | $473K |
| Line | Start FY24 | End FY24 |
|---|---|---|
| Cash and savingsLn 1–2 | $81K | $81K |
| InvestmentsLn 11–13 | $9.5M | $10.5M |
| Total assetsLn 16 | $23.6M | $27.1M |
| LiabilitiesLn 26 | $50K | $47K |
| Net assetsLn 32 | $23.5M | $27.0M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $576K | $576K | ||
| Investment management feesLn 11f | $60K | $60K | ||
| Total functional expensesLn 25 | $636K | $576K | $0 | $60K |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 Latest ViewingFiled with the IRS Oct 24, 2025 | $1.6M | $636K | $1.0M | $27.0M | 990 PDF |
| FY2023Filed with the IRS Oct 1, 2024 | $767K | $780K | −$14K | $23.5M | 990 PDF |
| FY2022Filed with the IRS Sep 8, 2023 | $1.0M | $652K | $369K | $22.4M | 990 PDF |
| FY2021Filed with the IRS Oct 12, 2022 | $1.0M | $655K | $367K | $27.5M | 990 PDF |
| FY2020Filed with the IRS Nov 15, 2021 | $826K | $2.2M | −$1.4M | $24.7M | 990 PDF |
Schedules filed Part IV
See the full FY2024 990
Part I · Summary $1,638,211 revenue, 12 lines filed
Part VI · Governance 13 of 13 board members independent, 2 to look at
Part VIII · Statement of revenue $1,638,211 across 5 lines filed
Part IX · Statement of functional expenses $635,718 across 2 lines filed
Part X · Balance sheet $27,077,501 assets, 10 lines filed
Part XI · Reconciliation of net assets $27,030,175 net assets at year end
Form 990 e-file FY2024 from the IRS (about our sources) · Classification, formation year and address from the IRS Business Master File
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