The rapidly increasing popularity of Web 2.0 knowledge and content sharing systems and growing amount of shared data make discovering relevant content and finding contacts a difficult enterprize. Typically, folksonomies provide a rich set of structures and social relationships that can be mined for a variety of recommendation purposes. We propose a novel formal model for characterizing users, items, and annotations in Web 2.0 environments. Our objective is to construct social recommender systems that predict the utility of items, users, or groups based on the multi-dimensional social environment of a given user.