May 18, 2021

Financial: Wikimedia Foundation Files FY 2018-2019 990 Form, Revenue Exceeded Expenses by $28.5 Million/USD

From a Wikimedia Announcements Post by Jaime Villagomez, Wikimedia CFO:

The Wikimedia Foundation’s total revenue for fiscal year 2018-2019 was US $118.6 million. Our total expenses during this period were US $90.1 million and our total net assets at the end of the fiscal year were US $165.6 million.

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.

As reported under our prior Form 990, we have been maintaining the operating reserve at 17-18 months. ur goal is to have sufficient reserve funds to conservatively provide at least 12-18 months of operatingexpenses 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.

With a stable and secure reserve, we have the ability to fund specific Wikimedia Movement investment opportunities that may arise.

During the fiscal year 2018-2019, we continued to experience growth in our fundraising revenue and success that was attributed to our fundraising campaigns.

We continue to invest in programmatic activities and evaluate to ensure that our allocation percentage is at or above the standard benchmark of 65%. During the fiscal year 2018-2019, we invested 74% in programmatic activities, 14% in Management & General activities, and 12% in fundraising activities. For fiscal year 2019-2020, we continued to maintain our commitment to our programmatic activities and invested approximately 76% of our total spending.

Direct to Complete Announcement/Summary

Wikimedia Foundation Fiscal Year 2018-2019 Financial Information Resources

About Gary Price

Gary Price (gprice@mediasourceinc.com) is a librarian, writer, consultant, and frequent conference speaker based in the Washington D.C. metro area. Before launching INFOdocket, Price and Shirl Kennedy were the founders and senior editors at ResourceShelf and DocuTicker for 10 years. From 2006-2009 he was Director of Online Information Services at Ask.com, and is currently a contributing editor at Search Engine Land.

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