Wikimedia Foundation Form 990 for FY 2018-2019 now on-wiki

peter.suber's bookmarks 2020-09-01

Summary:

"At the end of our fiscal year 2018-2019, our revenue exceeded our expenses by US $28.5 million, which increased our operating reserve to $166.5 million, or the equivalent of 17-18 months of expenses per the fiscal year 2019-2020 annual plan <https://meta.wikimedia.org/wiki/Wikimedia_Foundation_Medium-term_plan_2019/Annual_Plan_2019-2020>. As reported under our prior Form 990, we have been maintaining the operating reserve at 17-18 months. Our goal is to have sufficient reserve funds to conservatively provide at least 12-18 months of operating expenses in order to mitigate against unforeseen risk, secure operational stability, and ensure the overall financial health of the organization. This principle is consistent with many other financially stable, non-profit organizations that are rated by Charity Navigator <https://www.charitynavigator.org/>. With a stable and secure reserve, we have the ability to fund specific Wikimedia Movement investment opportunities that may arise...."

Link:

https://lists.wikimedia.org/pipermail/wikimediaannounce-l/2020-August/001622.html

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Tags:

oa.new oa.wikimedia_foundation oa.wikipedia oa.budgets oa.economics_of

Date tagged:

09/01/2020, 12:49

Date published:

09/01/2020, 08:49