TRUE FRIENDS

EIN: 411543013 501(c)(3) Recreation & Sports

ANNANDALE, MN

Total Revenue
$13,251,463
Total Expenses
$8,065,304
Total Assets
$21,921,284
Net Assets
$20,720,663
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
1985
Legal Domicile
MN
Principal Officer
JOHN LEBLANC
Phone
9528520101
Tax Period
2023-01-01 to 2023-12-31

TRUE FRIENDS, founded in 1985, is a mid-sized nonprofit in the Recreation & Sports sector that reported $13.3M in total revenue in fiscal year 2023. Revenue surged 100% from the prior year, signaling strong growth momentum. The organization ran a surplus of $5.2M, a strong 39% operating margin.

Mission

PROVIDE LIFE-CHANGING EXPERIENCES THAT ENHANCE INDEPENDENCE AND SELF-ESTEEM FOR CHILDREN AND ADULTS WITH DISABILITIES.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $8,331,260
Program Service Revenue $4,439,368
Investment Income $79,235
Other Revenue $401,600
TOTAL REVENUE $13,251,463

Expense Breakdown

Grants Paid $63,273
Salaries & Benefits $4,642,125
Fundraising Expenses $1,018,635
Program Expenses $6,857,643
Other Expenses $3,338,054
TOTAL EXPENSES $8,065,304

Year-over-Year Comparison

2023 2022 Change
Revenue $13,251,463 $6,634,209 +1.0%
Expenses $8,065,304 $6,904,860 +0.2%
Net Income $5,186,159 $-270,651 -20.2%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
17
Independent Members
17
Employees
335
Volunteers
226

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
5
$269,667
Total Directors
18
$162,529
Key Employees
0
$0
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JOHN LEBLANC PRESIDENT & CEO 32.00
Officer Director
$162,529 $0 $162,529
MARY ELLEN WELLS CHAIR 2.00
Officer Director
$0 $0 $0
PETER RUNDQUIST VICE CHAIR 2.00
Officer Director
$0 $0 $0
MARK FERIANCEK TREASURER 2.00
Officer Director
$0 $0 $0
ASHLEY TUNER MEMBER 2.00
Director
$0 $0 $0
COURTNEY MILLER MEMBER 2.00
Director
$0 $0 $0
DEB SALHUS MEMBER 2.00
Director
$0 $0 $0
FELICIA THAMES MEMBER 2.00
Director
$0 $0 $0
JEFF SCHROCK MEMBER 2.00
Director
$0 $0 $0
JOHN WOODWARD MEMBER THROUGH JUNE 2.00
Director
$0 $0 $0
JONATHAN GORDON MEMBER THROUGH FEBRUARY 2.00
Director
$0 $0 $0
JULIE MIELKE MEMBER 2.00
Director
$0 $0 $0
MARILYN HALLSTROM MEMBER 2.00
Director
$0 $0 $0
MARK ZASTROW MEMBER 2.00
Director
$0 $0 $0
NANCY KOEHLER MEMBER 2.00
Director
$0 $0 $0
PETER RAMME MEMBER 2.00
Director
$0 $0 $0
ROB OTOS MEMBER 2.00
Director
$0 $0 $0
SHELLY NELSON MEMBER 2.00
Director
$0 $0 $0
STEVEN PIEKARSKI SR. DIRECTOR OF OPERATIONS 45.00
Officer
$107,138 $0 $107,138
RUTH KEWITSCH SR. DIRECTOR OF DEVELOPMENT 40.00
Highest
$104,214 $0 $104,214
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $13,251,463 $8,065,304 $21,921,284 $5,186,159
2022 $6,634,209 $6,904,860 $16,448,566 $-270,651
2021 $6,519,865 $5,386,380 $17,252,878 $1,133,485
2020 $5,336,118 $4,723,556 $16,949,001 $612,562
2019 $9,153,368 $8,427,824 $16,472,551 $725,544
2018 $10,715,387 $8,591,969 $16,054,310 $2,123,418
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