Rainbow Whole Foods Grocery, Inc.
Board of Directors Meeting

5:37pm, June 21, 2005

Board Members Present: John McNeal, Luke Lundemo, Barbara Scobee, Nicole Jenkins, Ann Herlihy, Amy Breckenridge, Chris Winslow

Also Present: Steve Whitlow, Charlotte Lundemo, Jo G Prichard, Bruce Frazier

A quorum was present.

Board Training: Jo G Prichard lead the Board in an examination of eleven responsibilities of a Board of Directors. After examining these issues, we tallied our strengths and weaknesses regarding each responsibility. The areas we assessed ourselves weakest in are possible areas of future training.

Minutes Approved: The minutes of the May Board of Directors meeting were approved as presented.

Financial Report: Barbara Scobee distributed several financial reports showing our profits and losses for May and comparing those numbers to the previous month as well as May of 2004. We also reviewed our balance sheet in comparison to last month and a statement of cash flow. Sales for May 2005 were about 1% down from the previous month but over 30% higher than May 2004. May continued our streak of profitable months.

Managers Report : In addition to a written report distributed to the board earlier, Steve reported that the pace of sales in June is exceeding all other months of this year. In a discussion about the reason for the growth of sales, even during a period that Rainbow sales have traditionally slumped, Steve gave several possible reasons which included: 1) a well stocked store with plenty of inventory, 2) an increase in membership from around 1,300 a year ago to over 2,100 currently, 3) very good and consistent customer service from our staff, and 4) the café being open five days a week and bringing in more shoppers. Steve reported that Domini is beginning to evaluate the possibility of opening the café seven days a week.

Committee Reports: Luke presented a summary of one project of the membership committee called Be Rainbow which is having some success in recruiting members to participate as committee members and store volunteers. Another project being worked on by several members of the community outreach/education committee is the Rainbow Catalog. This catalog of businesses promoting healthy food, alternative medicine and healing, and support for sustainable lifestyles is planned for distribution in August. It will include listings of businesses that have agreed to give discounts to Rainbow members or to donate a percentage of sales to Rainbow members directly to Rainbow.

Election of Officers: Officers elected to serve this year were:

President – Luke Lundemo

Vice President – John McNeal

Secretary – Ann Herlihy

Treasurer – Barbara Scobee

Executive Committee: The members of the executive committee elected for this year were:

John McNeal, Luke Lundemo, Barbara Scobee, Ann Herlihy, Amy Breckenridge and Chris Winslow

Work on the Bylaws: Nicole Jenkins and Luke Lundemo distributed the results of their study of our bylaws. The board formed a committee of John McNeal (chair), Nicole Jenkins, Amy Breckenridge, Chris Winslow and Luke Lundemo to perform the detailed work of examining the bylaws and report recommendations back to the full board. The bylaws committee will meet before the next regular meeting.

Board Minutes on the Rainbow Website: The board voted their support for having the purpose statement on the website and requested that the bylaws also be made available on the website. Starting with the approved version of the minutes from this board meeting, the minutes of the Rainbow Board may also be posted at the website.

Meeting adjourned at 7:40 p.m.
Minutes submitted by Luke Lundemo