Annual Meeting Minutes - 2007
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:

• 8 Jul 2007

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:

• 2006 Income: $44,800.00
• 2006 Expenses: $42,392.00
  Professional Fees: $250.00
  Internet and Other Expenses: $29,282.00
  Donations: $12,860.00
• 2006 Excess Revenue: $2,408.00
• Cash in the bank as of this date: $8,260.16
• The Treasurers report was accepted unanimously.

Review of Current Foundation and Web Site Status:

• By the end of December 2006 the number of published text documents had reached 30,600. This dramatic increase of over 50% from the previous year was the result of us engaging internet publishing services, and the increase in hosted web sites.
• From 11 Feb 2006 thru 10 Feb 2007 we had 9,777,000 individual visitors to our web site determined by IP address.  If the current trend continues, the number of visitors should increase to about 12,000,000 for this present year; however, we recently suffered a dramatic drop in the youth who were coming to the web site, and have not been able to determine the cause.  We lost over a million hits a week to our Animal Exploitation section, alone, where most of the youth were visiting.
• After much discussion and based upon our current activities, it was decided to continue with our current operation policies, while continuing to monitor the youth situation.
• Review of Budget:
• 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
• Both Income and Expenses are running about half of the proposed budget, the fact that Mary and Frank Hoffman agreed to fund any shortfall, no changes were needed.

Old Business:

• Our working relationship with Lifestyle Concepts appears that it will be placed on hold because of economic conditions.

New Business:

• The Trustees have been discussing possible candidates for a fifth Trustee, and Betsy Wosko's name keeps coming up, so the Trustees unanimously decided to ask her to become a Trustee.
• Proposed Budget for Next year:
• Income from Donations: $52,000.00
• Expenses: $50,800.00
  Internet and Other Expenses: 9,500.00
  Internet Publishing Services: 36,000.00
  Professional Fees: 300.00
  Donations: 5,000.00
• Contingency and Reserve: $1,200.00
• After discussion, and Frank and Mary Hoffman's assurance that they would fund up to $52,000.00, the proposed Budget was  considered sufficient and accepted unanimously.

There being no further business, the meeting was adjourned.

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