Wikimedia Endowment/Meetings/July 21, 2022

Agenda

3:00 - 3:05 pm UTC: Welcome (Board Chair, Jimmy Wales)

3:05 - 3:10 pm UTC: Approval of Minutes (Stephen LaPorte)

3:10 - 3:15 pm UTC: Organizational Updates (Lisa Seitz Gruwell)

3:15 - 4:15 pm UTC: Committee Updates and Actions

• Finance Committee (Chair, Annette Campbell-White). Action: Approve 2022-23 Budget
• Community & Grantmaking Committee (Chair, Phoebe Ayers). Action: Approve the Grants Strategy
• Governance Committee (Chair, Peter Baldwin). Action: Discussion of board candidate(s).

4:15 - 4:35 pm UTC: Fundraising Update (Endowment Director, Amy Parker)

• Fundraising Goal presentation: Board discussion of proposed goal and timing for the Endowment’s next fundraising campaign

4:35 - 4:45 pm UTC: Wrap-up and Q&A (Lisa Seitz Gruwell)

4:45 - 4:50 pm UTC: Confirm Next Meetings (Jayde Antonio)

Minutes

Endowment Board Meeting Minutes

Thursday, July 22, 2022 – 15:00 - 18:00 UTC

A regular meeting of the Board of Directors of the Wikimedia Endowment, a California Nonprofit Public Benefit Corporation, was held at the Castleknock Hotel in Dublin, Ireland and virtually (via web conference) on July 21, 2022 at 15:00 UTC.

The following members of the Board of Directors were present at the meeting: Phoebe Ayers, Peter Baldwin, Annette Campbell-White, Patricio Lorente, Jimmy Wales, and Doron Weber. Michael Kim and Niels Christian Nielsen were present for part of the meeting.

Also present at the meeting were: Lisa Gruwell, Jason Adams, Jayde Antonio, Jessica James-Hill, Stephen LaPorte, Amy Parker, Guillaume Paumier, and Caitlin Virtue.

Jason Adams, Jayde Antonio, Annette Campbell-White, Lisa Gruwell, Jessica James-Hill, Patricio Lorente, Amy Parker, Caitlin Virtue, and Jimmy Wales were in-person at the Castleknock Hotel in Dublin. All others attended virtually.

Jimmy Wales acted as Chair of the meeting. Stephen LaPorte acted as Secretary of the meeting. The meeting was called to order, and based on the number of directors in attendance at the meeting, the Secretary determined that a quorum was present and determined that the meeting could proceed.

Summary of Actions

1) Farewell and gratitude to Niels Christian Nielsen

• Niels Christian Nielsen’s term ended on 22 July 2022. Nielsen was released from the meeting at this point.

2) Welcome (Jimmy Wales)

• Introduction of in-person and virtual attendees

3) Approved minutes from January 27, 2022 (Stephen LaPorte)

• Based on a motion by Jimmy Wales, seconded by Patricio Lorente, the Board unanimously approved the following resolution:
• Resolved, that the Board of Directors approves the minutes from the January 27, 2022 meeting.

4) Organizational Updates (Lisa Seitz Gruwell)

• Acknowledgement of 501(c)(3) approval from IRS
• Brief on WMF’s new, focused annual plan

5) Committee Updates and Actions

• Finance Committee (Annette Campbell-White)
  • The Endowment investment value stood at $95.2 million at the close of FY 21-22.
  • Funds are conservatively invested and the plan is to stay the course
  • Review of proposed Endowment budget
  • Michael Kim joined at this point in the meeting.
  • Based on a motion by Jimmy Wales, seconded by Phoebe Ayers, the Board unanimously approved the following resolutions:
    • Resolved, that the Board of Directors approves the proposed annual budget for the 2022-­23 fiscal year, consisting of $10 million of forecasted revenue and $1,803,622 of expenses for the Endowment;
    • Resolved, that during the fiscal year, if management anticipates the change in revenue and expense will differ materially from the plan, the Board directs management to consult the Chair of the Finance Committee promptly.

• Community & Grantmaking Committee (Phoebe Ayers)
  • The Board considered proposals for a grantmaking strategy.
  • Board directed staff to develop proposals for grantees for a total up to $5.7M in the area of technical innovation.

• Governance Committee (Peter Baldwin)
  • Review of board candidate recruitment process
  • Informal discussion of prospective board candidates

• Fundraising Update (Amy Parker)
  • Board discussion of proposed goal and timing for the Endowment’s next fundraising campaign
  • Between July 1, 2021 and June 30, 2022, we raised $13,537,126 for the Endowment from 601,584 donations.

6) Wrap-up and Q&A (Lisa Seitz Gruwell)

• Confirm Next Meetings

There being no other business to consider, the meeting was adjourned at 17:33 Dublin local time.