ANNUAL REPORT

We are pleased to report how the Foundation's money has been spent this 1985-86 fiscal year. This year has seen significant growth in many areas. The number of research grants has grown to 14 this year. The number of reports and articles now available is over 300 and still growing. Over 26,250 reprints and preliminary reports, and more than 2,000 books, videos, and critical texts were distributed this year, worldwide.

All money received by F.A.R.M.S. comes from individual donors or foundations and is very much appreciated. One hundred twenty-seven people contributed $100 or more this year. Twenty-one gave $500 or more. Each dollar makes it possible for research to continue and for distribution services to expand.

Our objective is to make materials available on a non-profit basis. Prices are set at break-even levels. We are pleased to report that direct sales expenses (cost of goods sold, postage, and handling) and sales income were within 1% of each other for the fiscal year.

Our goal is also to keep overhead as low as possible and to use each dollar donated for service and research needs. F.A.R.M.S. expenses for the 1985-86 fiscal year were allocated as follows:

We take special note of certain facts that have kept our expenses low this year: the board of directors, advisory board, president and treasurer of the Foundation serve without salary; no direct promotional costs were incurred this year aside from printing a few small fund-raising information sheets.