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Nonprofiteer
← TFP HOLDING CO

Form 990 for tax year 2023

Filed by TFP HOLDING CO.

What the amendment changed

Compared with the return it replaced , filed 8 November 2024. matched by us Only the Part I totals and the names listed in Part VII are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.

Total expenses
$214,972 changed to $785,614
Total assets, end of year
$30,263,581 changed to $30,287,777
Net assets or fund balances, end of year
$9,305,263 changed to $9,329,459
Program services expenses
$137,858 changed to $659,997
Management and general expenses
$77,114 changed to $105,968
Fundraising expenses
$0 changed to $19,649
Program service expenses (Part III)
$137,858 changed to $659,997

Totals

Total revenue
$626,140
Total expenses
$785,614
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$588,581
Investment income
$37,559
Other revenue
$0
Total assets, end of year
$30,287,777
Total liabilities, end of year
$20,958,318
Net assets or fund balances, end of year
$9,329,459
Program services expenses (Part IX)
$659,997
Management and general expenses
$105,968
Fundraising expenses
$19,649
Program service expenses (Part III)
$659,997

Program services were 84.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: RENT

    total $588,581 · related or exempt $588,581

  • 3 · Investment income

    total $37,559 · excluded $37,559

Functional expenses

Part IX, the statement of functional expenses.

  • 16 · Occupancy

    total $153,308 · program services $128,886 · management and general $10,186 · fundraising $14,236

  • 20 · Interest

    total $77,114 · management and general $77,114

  • 22 · Depreciation, depletion and amortization

    total $555,192 · program services $531,111 · management and general $18,668 · fundraising $5,413

Balance sheet

Part X, book values.

  • 10a · Land, buildings and equipment: cost or other basis

    $21,587,451

  • 10b · Land, buildings and equipment: accumulated depreciation

    $1,111,134

  • 10c · Land, buildings and equipment, net

    beginning of year $20,589,978 · end of year $20,476,317

  • 15 · Other assets

    beginning of year $10,027,481 · end of year $9,811,460

  • 17 · Accounts payable and accrued expenses

    beginning of year $77,516 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $10,560,000 · end of year $10,560,000

  • 25 · Other liabilities

    beginning of year $10,932,541 · end of year $10,398,318

  • 27 · Net assets without donor restrictions

    beginning of year $9,047,402 · end of year $9,329,459

Mission and programs · 2023

Mission

THIS CORPORATION IS ORGANIZED AND SHALL BE OPERATED EXCLUSIVELY FOR CHARITABLE, RELIGIOUS AND EDUCATIONAL PURPOSES, AND IN CONNECTION THEREWITH EXCLUSIVELY FOR THE BENEFIT OF, TO SUPPORT THE FUNCTIONS OF, AND TO ASSIST IN CARRYING OUT THE PURPOSES OF THE FAMILY PARTNERSHIP, A MINNESOTA NONPROFIT CORPORATION.

  • TO SUPPORT THE FUNCTIONS OF, AND TO ASSIST IN CARRYING OUT THE PURPOSES OF THE FAMILY PARTNERSHIP, A MINNESOTA NONPROFIT CORPORATION.

    Expenses $659,997 · Revenue $588,581

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Dianne Haulcy

    DIRECTOR AND PRESIDENT

    Total calculated
    $212,995
    From this org
    $0
    From related orgs
    $193,826
    Other
    $19,169
    Hours/week
    1 + 37.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $187,272 related
    Bonus
    $0 + $6,554 related
    Other
    $0
    Deferred
    $0 + $3,745 related
    Nontaxable benefits
    $0 + $15,424 related
    Filer's total
    $0 + $212,995 related

  • Ying Vu

    DIRECTOR AND BOARD CHAIR

    Total calculated
    $125,266
    From this org
    $0
    From related orgs
    $123,834
    Other
    $1,432
    Hours/week
    1 + 37.5 related

  • Mary Greenman

    DIRECTOR AND TREASURER/SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Clark Nordberg

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Clint Morrison

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Julie Steiner

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
THE FILING ORGANIZATION RELIED ON A RELATED ORGANIZATION, THE FAMILY PARTNERSHIP. TO ESTABLISH COMPENSATION OF THE PRESIDENT & CEO. THE FAMILY PARTNERSHIP USED THE FOLLOWING METHOD TO DETERMINE THE COMPENSATION: -APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
23 June 2025
IRS schema version
2023v6.0
Source object
202511789349300921

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