Annual Meeting Minutes - 2006
The Mary T. and Frank L. Hoffman Family Foundation

Dedicated to cruelty free living through a vegetarian vegan lifestyle.

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 2006

Trustees:

• Mary T. Hoffman
• Frank L. Hoffman
• Michael Budkie
• Stephen Kaufman

Trustees Participating:

• Mary T. Hoffman
• Frank L. Hoffman
• Michael Budkie
• Stephen Kaufman

Review of Minutes:

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

Treasurer's Report:

• 2005 Income: $27,288.00
• 2005 Expenses: $20,209.00
  Professional Fees: $200.00
  Internet and Other Expenses: $5,833.00
  Donations: $14,176.00
• 2005 Excess Revenue: $7,019.00
• Cash in the bank as of this date: $7,085.90
• The Treasurers report was accepted unanimously.

Review of Current Foundation and Web Site Status:

• By the end of December 2005 the number of published text documents had reached 20,000.
• From 11 Feb 2005 thru 10 Feb 2006 we had 7,512,000 individual visitors to our web site determined by IP address.
• The web site continues to grow impressively, and we decided not to make any changes in current policy.
• Review of Budget:
• Income from Donations: $44,000.00
• Expenses: $42,800.00
  Internet and Other Expenses: 9,500.00
  Internet Publishing Services: 17,000.00
  Professional Fees: 300.00
  Donations: 16,000.00
• Contingency and Reserve: $1,200.00
• Both Income and Expenses are running about half of the proposed budget, but since the Frank and Mary Hoffman agreed to fund up to $44,000.00, no changes were needed.

Old Business:

• We are continuing our very successful relationship with Lifestyle Concepts.

New Business:

• Proposed Budget for Next year:
• Income from Donations: $36,000.00
• Expenses: $34,800.00
  Internet and Other Expenses: 12,500.00
  Internet Publishing Services: 16,000.00
  Professional Fees: 1,300.00
  Donations: 5,000.00
• Contingency and Reserve: $1,200.00
• After discussion, the proposed Budget, including the assurance from Mary and Frank Hoffman would fund up to $36,000.00, the Budget was accepted unanimously.

There being no further business, the meeting was adjourned.

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