Absolutely not. They have way more money than they can sensibly spend, keep begging for more as if they could barely keep the lights on (they could probably easily keep the core mission going with about 10% of the money they're getting), and then expand their spending to match the donations they collected.
They then created an endowment (i.e. a pile of wealth that generates enough interest to sustain them indefinitely), using both additional donations and some of the money given to Wikimedia (which reduces the apparent amount of money they spend and is not listed as money Wikipedia/Wikimedia has, as it is accounted for separately). The $100M endowment was planned to take 10 years to build, got completed in 2021, five years before schedule. Wikimedia also has a separate cash hoard of almost a quarter billion dollars.
Wow I didn't know about this, thanks for the reading! I always feel morally in debt for using Wikipedia without giving back much and assume they were struggling a bit to operate, but wow they have received millions of dollars already!
edit: I'm still willing to donate though, and I just did, like I'm happy to pay for what I've learned from it, even if it doesn't mean much to them.
They make it sound like they’re just about to close down, I’ve been sending them a few bucks every month for like a year and I feel a little bit slighted tbh
Very similar feelings here.
This is the most interesting thing I realize(thanks to you) this week so far
Yes. People won't understand the value of something until they lose it.
Absolutely not. They have way more money than they can sensibly spend, keep begging for more as if they could barely keep the lights on (they could probably easily keep the core mission going with about 10% of the money they're getting), and then expand their spending to match the donations they collected.
They then created an endowment (i.e. a pile of wealth that generates enough interest to sustain them indefinitely), using both additional donations and some of the money given to Wikimedia (which reduces the apparent amount of money they spend and is not listed as money Wikipedia/Wikimedia has, as it is accounted for separately). The $100M endowment was planned to take 10 years to build, got completed in 2021, five years before schedule. Wikimedia also has a separate cash hoard of almost a quarter billion dollars.
It's actually all in their article: https://en.wikipedia.org/wiki/Wikimedia_Foundation#Finances
Wow I didn't know about this, thanks for the reading! I always feel morally in debt for using Wikipedia without giving back much and assume they were struggling a bit to operate, but wow they have received millions of dollars already!
edit: I'm still willing to donate though, and I just did, like I'm happy to pay for what I've learned from it, even if it doesn't mean much to them.
They make it sound like they’re just about to close down, I’ve been sending them a few bucks every month for like a year and I feel a little bit slighted tbh
Very similar feelings here.
This is the most interesting thing I realize(thanks to you) this week so far
Yes. People won't understand the value of something until they lose it.