LogoAnnual Meeting Minutes
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 and approved.

Date:

  • June 24, 2023

Trustees:

  • Frank L. Hoffman
  • Stephen Kaufman
  • Betsy Wosko

Trustees Participating:

  • Frank L. Hoffman
  • Stephen Kaufman
  • Betsy Wosko

Others Participating:

  • Tammy S. Nicholson

Review of Prior Annual Meeting Minutes:

  • Upon motion, properly seconded, the minutes of the previous Annual Meeting were reviewed and approved unanimously.

Treasurer's Report:

2022 Budget compared to Actual Expenses

  • Income from Gifts Received: $137,000 [Actual $123,038]
  • Expenses: $130,000 [Actual $126,828]
  • Internet and Other Expenses: $24,000 [Actual $12,084]
  • Internet Publishing Services: $100,000 [Actual $113,350]
  • Professional Fees: 3,000 [Actual $1,395]
  • Donations Given: 3,000 [Actual $0]
  • Contingency and Reserve: $7,000 [Actual $0]

Review of Current Foundation and Web Site Status:

  • Our web site traffic (unique visitors) has been steady since January 2023.
  • We succesfully removed hacker files in January 2023 from the main and hosted sites.
  • We are still hosting about 40 other like-minded organization's web sites and have resumed communications with all of them. Some listings have been updated to reflect archived, some have been moved, and we are in the process of adding more.
  • We continue to be a pro-bono client of both Animal Defense Partnership Legal Services and the Vegan Hackivists for certain and limited IT support.
  • We have decided to renew our Council of Foundations Membership of $1000 for 2023/2024 after finding it invaluable for legal council, foundation resources, education, and networking.
  • Review of Current Year's Budget (As of May May 31,2023): (CASH ONLY)
    • Income from Gifts Received: $12,497
    • Expenses: $52,576
    • Internet and Other Expenses: $4005
    • Internet Publishing Services and Administration: $48,883
    • Debt Service $0.00
    • Professional Fees: $0
    • Donations Given: $1000
    • Contingency and Reserve: $0
  • Both Income and Expenses are running under the proposed budget by approximately $500/mo.

Old Business:

  • Determination that we are Non-profit Trust through COF and ADP Attorneys
  • A NY Agent was secured in August 2022 and is now in place
  • We successfully switched to PayChex in December 2022
  • Workers Comp (Travelers) moved with us to PayChex
  • The founder's office moved from Rock Springs to Richland Center WI
  • Publishing Rights Agreements - are now created & signed, and in place for all active artists/poets/authors
  • Discussions with the Council for Foundations legal team determined that keeping a small board is better and not expanding the board, but building an advisory committee instead.
  • Advisory Committee to be created
  • Planned Giving Options have been created with help of Animal Defense Partnership Attorneys and are to be added
  • Meeting with Two Financial Advisors about Trust

New Business:

  • Non-profit Gift Acceptance Policy - After a review, a motion was unamiously passed to accept the draft document as approved for final edits with the attorney and then use.
  • Advisory Committee to be created
  • Staff/Volunteer Update
  • A motion was unamiously passed for the Proposed Budget for Next year 2024:
    • Income from Gifts Received and Sale of Property Proceeds: $137,000
    • * (with additional donation from Frank of $60,000 (5k per month). This year Frank will add another $30,000 and the combination of the two will take us through January 2025.)
    • Expenses: $132,000
    • Internet and Other Expenses: $9,000
    • Internet Publishing Services: $115,000
    • Professional Fees: $2,000
    • Donations Given: $2,000
    • Contingency and Reserve: $4,000

Adjournment:            

  • There being no further business, upon motion, duly seconded, the meetings were adjourned. 

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