LogoAnnual 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 and approved.


  • 25 June 2021 and 10 July 2021


  • Frank L. Hoffman
  • Stephen Kaufman
  • Betsy Wosko

Trustees Participating:

  • Frank L. Hoffman
  • Stephen Kaufman (attended 2nd part of meeting only)
  • 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:

  • 2020 Income: $70,962
  • 2020 Expenses: $67,192
    Professional Fees: $795
    Internet and Other Expenses: $15,933
    Internet Publishing Services: $33,225
    Depreciation: $11,297
    Occupancy: $5,742
  • Travel, Conferences, Meetings: $0.00
    Donations: $200
  • 2020 Excess Revenue (Capital): $3,770
  • Cash in the bank as of 31 May 2021: $16,828
  • The Treasurers report was accepted unanimously.

Review of Current Foundation and Web Site Status:

  • Our web site traffic (unique visitors) seems to have stablized in the 90 thousands/mo.
  • We are still hosting about 40 other like-minded organization's web sites.
  • Since Mary’s death, 25 August 2018, we have had an open Board seat. Discussion was held about keeping an eye out for another board member who has skills which could be of value, such as internet marketing or fund raising. With Tams' resignation, we now have two open seats. (no change to date)
  • We now are listed as a non-profit charity by Microsoft.
  • Kimberly is only doing "volunteer" work for use of residence, which is scheduled to end the end of Sep 2021.
  • Review of Current Year's Budget (1st 5 months of 2021): (CASH ONLY)
    • Income from Donations: $30,125
    • Expenses: $29,010
      Internet and Other Expenses: $8,304
      Internet Publishing Services: $19,911
      Debt Service $0.00
      Professional Fees: $795
      Donations: $0.00
    • Contingency and Reserve: $1,115
    • Both Income and Expenses are running under the proposed budget by approximately $1,000/mo.

Old Business:

  • There are two open Board position that needs to be filled. (no action taken)
  • Tams Nicholson was hired as our part time Exectutive Director to begin work on 11 Jan 2021, and she resigned as a Director/Trustee as of the end of 2020.

New Business:

  • Executive Director discussion: We discussed bringing Tams Nicholson on as a full time Executive Director at a total cost of salary and benefits of $70,000/yr. The Board unamiously appoved her full time position, but had serious reservations about her not waiting until the end of 2022, when her $100,000 school loan debt would disappear.
  • Proposed Budget for Next year [with full time ED]:
    • Income from Donations: $85,000.00 [137,000]
    • Expenses: $78,000 [130,000]
      Internet and Other Expenses: 28,000 [24,000]
      Internet Publishing Services: 44,000 [100,000]
      Professional Fees: 3,000
      Donations: 3,000
    • Contingency and Reserve: $7,000
    • After discussion, and Frank’s assurance that he would fund up to $84,000, which does not incluse the proposed budget to cover the cost of a full time Exective Director. The proposed budget, upon proper motion, duly seconded, was approved unanimously. The contigency budget was unnamiously approved contigent upon selling the Foundation property at 119 Tammy Trail, and using the funds to pay the budget shortfall.
  • We reviewed current independent contractor status and possible future needs and policies and decided to go with only salaried employees and engaged ADP as our Payroll Service. 
  • A motion was unamiously passed to sell the current home and office of the ED at 119 Tammy Trail in Athens, NY. The proceeds of this sale could fund the additional cost of a full time ED position for about 4 years.


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

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