Financial: Wikimedia Foundation Files FY 2018-2019 990 Form, Revenue Exceeded Expenses by $28.5 Million/USD
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
- Full Year Financial Statements
Audited by KPMG
- Full Year Financials – Questions and Answers
- Annual Plan
- Form 990
- Form 990 – Questions and Answers
About Gary Price
Gary Price (firstname.lastname@example.org) is a librarian, writer, consultant, and frequent conference speaker based in the Washington D.C. metro area. He earned his MLIS degree from Wayne State University in Detroit. Price has won several awards including the SLA Innovations in Technology Award and Alumnus of the Year from the Wayne St. University Library and Information Science Program. From 2006-2009 he was Director of Online Information Services at Ask.com.