Annual Meeting Minutes
The Mary T. and Frank L. Hoffman Family Foundation

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The Annual Meeting of The Mary T. and Frank L. Hoffman Family Foundation is held over several days in late Spring or early Summer of each year following the filing of the 990-PF with the Internal Revenue Service, on or before 15 May.  The time frame allows for personal, telephone, and email communication among Trustees in accordance with the By-Laws.  The Dated indicated below is the date these Minutes were compiled.

Date:

• 30 June 2000

Trustees:

• Mary T. Hoffman
• Frank L. Hoffman

Trustees Participating:

• Mary T. Hoffman
• Frank L. Hoffman

Review of Minutes:

• The minutes of the previous Annual Meeting were reviewed and approved unanimously.

Treasurer's Report:

• 1999 Income: $4,040.00
• 1999 Expenses: $5,816.00
  Professional Fees: $275.00
  Internet and Other Expenses: $2,014.00
  Donations: $3,527.00
• 1999 Excess Revenue: ($1,776.00)
• Cash in the bank as of this date: $3,427.15
• The Treasurers report was accepted unanimously.

Review of Current Foundation and Web Site Status:

• The web site traffic continues to slowly grow and is expected to double that of last year.  We are also looking to expand our web site to help other like-minded organizations.
• Review of Budget:
  • Income from Donations: $13,000.00
  • Expenses: $11,800.00
    Telephone/Internet: 2,200.00
    Office Equipment: 3,000.00
    Office Supplies: 600.00
    Professional Fees: 1,000.00
    Donations: 5,000.00
  • Contingency and Reserve: $1,200.00
  • Both Income and Expenses are running within the proposed budget, but since the Frank and Mary Hoffman agreed to fund up to $12,000.00, no changes were needed.

Old Business:

• We have been working with Citizens for the Hudson Valley, on environmental issues.  The expected cost will be about $15,000.00, with most of the cost being paid by their membership.  Since there will be no appreciable financial commitment from our Foundation, it was unanimously approved to continue our involvement.

New Business:

• Proposed Budget for Next year:
• Income from Donations: $13,000.00
• Expenses: $11,800.00
  Telephone/Web: 1,200.00
  Office Equipment: 3,000.00
  Office Supplies: 600.00
  Professional Fees: 2,000.00
  Donations: 5,000.00
• Contingency and Reserve: $1,200.00
• After discussion, the proposed Budget (the same as last year's) was  considered sufficient and accepted unanimously.

There being no further business, the meeting was adjourned.

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