1. Revenues: Dues and Contributions $191,610, Interest Income $123, Other $4,633, Total $194,766.
2. Expenses: Educational/Scientific Programs $168,186, Management/General $19,477, Fundraising $3,843, Total $191,476.
3. Revenues minus Expenses (net operating surplus): $4,890.
4. End of 2003, SETI League account balances equalled $36,441. End of 2002 balance was $31,551.
5. 2004 Budget: Projected Revenues $91,000, Program Expenses $112,000, Management/General Expenses $13,000, Fundraising Expenses $2,500, Projected Deficit $36,500, Projected Ending Balance $59.
6. This report was accepted by those present.

1. Dr. Shuch referred to our 2003 Program Service Accomplishments on the website. The report summarized our Science Program, Technology Program, Media and Outreach, and Public Education activities for the last calendar year.
2. Several of our pictures were used by ARRL and QST
3. Richard Factor has processed 100,000 packets for SETI@home.
4. Flyers have been mailed to inquirers; hundreds were distributed at conventions, etc.
5. As of 15 August 2004, fiscal conditions dictate that we will no longer have a paid Executive Director. Dr. Shuch offered to continue working for the SETI League on a volunteer basis. This motion was proposed, seconded, and passed, with thanks.

1. Strategic Planning Committee
   Report by member Rob Lodder, on behalf of chairman Mal Raff.
   We need strategies that cost nothing. A WIKI is a web page that anyone with a password can write to. Rob will prepare one, including an optical SETI page with diagrams and price list.
   Other research projects include investigation into LDE (Long-Delayed Echoes).

2. Awards Committee
   Report by chairman Dave Ocame.
   During the year, 12 websites have received the SETI Super StarAward.
   three finalists each were nominated for the Bruno and OG Awards, and one each award presented.

3. Legal Services Committee
   Report presented by Executive Director H. Paul Shuch, on behalf of Chairman Steve Carver (not present).
   Final patent was issued for "Adaptive Microwave Antenna," technology developed for the VSA.
   Three trade/service marks are being renewed at a fee of $300 each. Steve Carver is providing his time and legal services pro bono.

4. Membership Services, Hardware, and Software Committees
   No report.

5. Internet Services Committee
   Report by Richard Factor:
   The website has been moved to a faster server.

6. Finance Committee
   Report delivered by the Executive Director:
   A new Chairman, Dr. Niladri Sarker, has been appointed. A fundraising professional has been retained on a part-time basis. He has circulated an Assessment Profile questionnaire to our leading supporters, and is awaiting their responses before implementing an action plan.

7. EME Committee
   Report delivered by Richard Factor on behalf of chairman Dr. Allen Katz:
   W2ETI Moonbounce Beacon is currently down for maintenance and upgrade.

8. Very Small Array Committee
   Report delivered by Dr. Shuch:
   No current progress on our Array due to lack of funds.
   Paul reported his recent trip to Italy, and progress on MStar, an Italian array based in part upon our VSA design. He has written their preliminary technical specifications in cooperation with Stelio Montebugnoli.

1. Executive Director: Paul accepted part-time employment as a consultant during the year, and donated his earnings to The SETI League (approximately $35,000). He will continue as a volunteer. This may slow the answering of emails, etc. He will continue to represent The SETI League at meetings, conferences, etc. as funds allow.
2. SETICon04: twenty attendees. The proceedings will be published on CD ROM, and will be made available to EME Conference attendees. There was some discussion of the reason for the drop in attendance (previous conference attendance was approximately 30). Possibly the change of date was a factor.
3. EuroSETI04: 15 attendees from eight countries. Proceedings available on CD ROM. Probably there will be similar small meetings in various locations.

1. We cannot afford a stand-alone conference. Possibly next year's conference could be held at the SARA Conference, June 2005 in Greenbank WV.
2. Allen Katz reported that next year's Trenton Computer Festival will be held at The College of New Jersey, 15-17 April 2005, and invited us to hold our 2005 Annual Meeting in conjunction with that event.

1. Richard Factor commended Paul Shuch for his ten years of somewhat selfless service. Paul was exactly what we needed, and we regret we can no longer afford his fulltime services. Mr Factor will try to become more active, setting up the WIKI, working on LDE, etc.
2. Thanks were offered to Allen Tough, for bringing in four new conference attendees and members; to Muriel Hykes for her volunteer support, and to Heather Wood for administrivia.
3. Paul Shuch reported on four years of SETICon:

   Conference	Cost of Advertising	Number of Attendees
   SETICon01	$4,000	30
   SETICon02	$2,000	30
   SETICon03	none	34
   SETICon04	none	20

4. Vincent Caracci suggested getting listed in the various astronomy calendars (Reflector, Sky & Telescope, etc.). He volunteered to do this for next year.
5. Earl Bennett is trying for some publicity on Channel 48.
6. Richard Factor spoke about coverage in local newspapers some years back, which did not seem to evoke any response. He reported that after the Janet Jackson wardrobe malfunction, there was a spurt of interest in the mainstream media (CNN, The Economist, USA Today) in his company's digital obscenity delay product. This interest did not result in any noticeable increase in sales.

The Annual Membership Meeting was adjourned by the Executive Director at 1102 hours EDT on 8 August 2004. The annual Board of Trustees meeting occurred immediately afterward. All members in good standing were invited to attend. The only business conducted at that meeting was Election of Officers, as follows:

President - Richard Factor
Secretary/Treasurer - A. Heather Wood
Executive Director - H. Paul Shuch, serving on a volunteer basis.