Annual Meeting Minutes - 2017
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:

• 1 June 2017

Trustees:

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

Trustees Participating:

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

Review of Minutes:

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

Treasurer's Report:

• 2016 Income: $181,321
• 2016 Expenses: $52,116
  Professional Fees: $760
  Internet Expenses: $11,103
  Internet Publishing Services: $37,672
  Other Expenses $3,341
  Donations: $160
• 2016 Excess Revenue: $120,267 (towards office & residence purchase)
• Cash in the bank as of 31 May 2017: $10,285.48
• Office and Residence
  Real Property Value $248,550
  Contents $20,000
  Frank and Mary Hoffman Contributed towards purchase $130,000 (January 2017 an additional $70,000)
  Loan Balance $77,000
• The Treasurers report was accepted unanimously.

Review of Current Foundation and Web Site Status:

• We have continued to update the web site and have continued with the loss in visitor traffic since the spring of 2016, when the search engines changed their algorisms again. We are doing everything the search engine companies say they want, and suspect that there is something more sinister going on. This continues to be very frustrating.
• We are still hosting about 40 other like-minded organization's web sites.
• Review of Budget (1st 5 months of 2016):
  • Income from Donations: $114,618 (includes $70,000 one-time donation to reduce loan)
  • Expenses: $108,315 (includes $70,000 one-time donation to reduce loan)
    Internet and Other Expenses: $5,226
    Internet Publishing Services: $21,634
    Debt Service $81,413 (includes $70,000 one-time donation to reduce loan)
    Professional Fees: $0
    Donations: $42
  • Contingency and Reserve: $6,303
  • Both Income and Expenses are running less than 5/12 of the proposed budget, but since Frank and Mary Hoffman agreed to fund up to $120,000.00 to cover debt service on loan and increased operation expenses, no changes were needed.

Old Business:

• Purchase of Office & Residence at 119 Tammy Trail was completed.
• We engaged Kimberly Hosler as our Executive Director-in-training. Kimberly comes to us as an ethical vegan since 2007, and serves as the current VP of the Albany Vegan Network in addition to the work she is doing here at All-Creatures.

New Business:

• We have taken over the Vegan Venue website and are revamping it as a wordpress site to emphasize a vegan lifestyle. We are antipating this will help us navigate around the algorism issue.
• Proposed Budget for Next year:
  • Income from Donations: $118,860
  • Expenses (debt service): $44,860
  • Expenses (operational): $68,800
    Internet and Other Expenses: $12,000
    Internet Publishing Services: $55,000
    Professional Fees: $600
    Donations: $1,200
  • Contingency and Reserve: $5,200
  • After discussion, and Frank and Mary Hoffman's assurance that they would fund up to $120,000.00, the proposed Budget was  considered sufficient and accepted unanimously.

There being no further business, the meeting was adjourned.

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