Rainbow Whole Foods Grocery, Inc.

Board of Directors Meeting

5:34 pm August 16, 2005

Board Members Present: Luke Lundemo, Barbara Scobee, Ann Herlihy, Amy Breckenridge

Absent: John McNeal, Nicole Jenkins

Also Present: Steve Whitlow, Charlotte Lundemo

A quorum was present

Discussion and reading of Chris Winslow’s resignation.

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

Managers Report: In addition to a written report distributed to the board earlier, Steve reported that the pace of sales in the store continues to exceed all other months of this year. Steve reported that HABA and produce pad the best month out of the fiscal year. Steve said that he feels that the café being open 7 days a week is contributing to the growth in sales and customer count.

Financial Report: Barbara Scobee distributed several financial reports showing our profits and losses for June and comparing those numbers to the previous month as well as June of 2004. We also reviewed our balance sheet in comparison to last month and a statement of cash flow.

Committee Reports: Luke presented a report from the membership committee. He said that the membership has continued to grow. The community outreach/education committee continues to work on the Rainbow Catalog. The cover is to be printed on 100% post consumer waste and with soy ink. It is now up to 46 pages and it should be published in August. The mission statement ahs been made also. The By-laws committee continues to make progress.

Board Development: Luke p[assed out a marketing study for food cooperatives. He also has a DVD that addresses strategic planning.

Other Business: A motion was made to adjourn. This motion was seconded and passed.

Meeting adjourned at 7:30 pm. Minutes submitted by Ann Herlihy