Friends of IAGenWeb
Annual Meeting

Saturday, August 10, 2002
11:00 a.m. Central
Wild Rose Meeting Room

• Minutes of the Annual Meeting
  Present:  Loren Toomsen, Cay Merryman, Richard Harrison
  Absent:
  Guests:
  Excused:  Mark Christian, called in, absent because of a local lightning storm
   

• The meeting was called to order at: 11:05 a.m. Central Time, August 10, 2002 by Loren Toomsen.

Minutes:  Because this is our first Annual meeting we have no prior minutes.
Exhibit 1

• The purpose of meeting today is to conduct an Annual meeting of the Friends of IAGenWeb.
• Because this is our very first annual meeting it will be informal. 
• During the past twelve months financial activity has arisen among IAGenWeb Project members.
• This activity involves the input of contributed money and has every indication of continuing and growing for years to come.
• The name "Friends of IAGenWeb" has gained acceptance among the contributors.
• Friends of IAGenWeb has one mission and that is to attend to the financial affairs of the IAGenWeb Project.
• On August 15, 2002 the "Friends of IAGenWeb" will apply for a 501c3 tax exempt status. 
  .

Announcements:  Friends of IAGenWeb website

President's Report:

Treasurer's Report: Saturday August 10, 2002
Exhibit 2

ASSETS:		Balance
	Accounts
	Checking Account	$   151.63
	Pay Pal	235.14
	Savings	200.72
	Cash on hand	0.00
	** Properties Asset Value	0.00
	Total Cash:	$  587.49
LIABILITIES:
	Toomsen Line-of-Credit / Underwriting loan	$  843.00
	Cash Balance / August 10, 2002	$ 255.51

---

Budget Projections December 23, 2001 through December 22, 2002
December 23, 2001	Pro-Plan	$38.85
March 23, 2002	Pro-Plan	$38.85
June 23, 2002	Platinum Plan	$53.85
June 24, 2002	renew iagenweb.org	$17.75
August 27, 2002	renew iagenweb.com	$17.75
September 23, 2002	Platinum Plan	$53.85
October 25, 2002	renew iagenweb.net	$17.75
	Maint. Allowance	$150.00
Retire start up underwriting loan		$843.00
501(c)(3) Non-Profit status filing		$910.00
	2002 Total	$2,141.65	$2,150.00

1. Other Reports:

2. Old Business: 

3. New Business: 
   Exhibit 3
   501(c)(3) Tax Exempt Filing Status

   • The forms and filing will be conducted by Maureen Jacobson, CPA, Clear Lake, Iowa on Thursday August 15, 2002.
   • Maureen Jacobson has an established reputation for 501c3 filings.
   • Maureen is a professional and charges her time at $90.00 per hour.
   • The more leg work we do the less time she has to involve herself.
   • Currently detailed narrative descriptions of all our activities are being organized.
   • Maureen will oversee our filing and make sure it is properly submitted.
   • The legal aspects of the filing will be handled at Attorney Mark Schoeller, Clear Lake.
      

4. Next Annual meeting will be conducted Saturday January 11, 2003. 

5. Meeting adjourned at: 11:32 am

Respectfully submitted
Loren Toomsen, Treasurer
loren@pafways.org