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ent001424-019
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I agree.?? ' FREEMAN COMPANY pub/fc/sts PLANNING 4/12 Jack ?╟÷- A RECOMMENDATION: ?╟÷that we make the Sands the headquarters of the "Angelbread Foundation" which will administer the business and promotion of the sale of this bread nationally, with proceeds going to help expand present Rose di Lima Hospital, and if eventual income warrants, to build a new hospital in Clark County. 1* We are setting up an "Angelbread Foundation" composed of a group of men including Sen. Bible, Dr. Lockitch, Msgr. Morand, A1 Cahlan (others to be considered), which will run the business end of the sale of "Angelbread" and will in turn, endorse all checks over to the Sisters as contributions. Thus, as a Foundation, income is tax exempt and the contributions to the hospital are tax exempt. This is now being set up legally by John Mowbray, couisel for the hospital, based on our idea of the Foundation. 2. The Foundation will consider bakeries in other cities interested in baking and distributing "Angelbread" and will have a standard contract and franchise for bakeries all over the country. It will specify what percentage of profit per loaf is to be turned over to the Foundation by each bakery, based on cost of baking the bread, retailer cost and the selling price. 3. In the case of Snowflake Bakery here in Vegas, The Foundation will get 3 cents a loaf based on following figures: To bake a one-pound loaf ?╟÷ 18 cents (12 for materials and labor, 6 for wrapping, handling, distribution) Snowflakds cost to Market Town ?╟÷ 24 cents -more- 9508 WIL SHIRE BLVD. ?╟≤ BEVERLY HILLS, CAL. ?╟≤ BRADSHAW 2-8611