WIKIMEDIA FOUNDATION, INC. 
Notes to Consolidated Financial Statements 
June 30, 2024 and 2023 
 9 (Continued) 
Gifts of cash and other assets are reported as contributions with donor restrictions if they are received 
with donor stipulations that limit the use of the donated assets or are restricted as to time.  When a 
donor restriction expires, that is, when a stipulated time restriction ends or purpose restriction is 
accomplished, net assets with donor restrictions are reclassified to net assets without donor restrictions 
and reported in the consolidated statement of activities as net assets released from restrictions. 
(l) Contributions of Nonfinancial Assets and Services 
Contributions of nonfinancial assets and services include contributed services, as described below. 
Contributed services are reported at fair value in the consolidated financial statements for voluntary 
donations of services when those services (1) create or enhance nonfinancial assets, (2) require 
specialized skills provided by individuals possessing those skills and are services that would be 
typically purchased if not provided by the donation, and (3) are professional in nature, and have been 
explicitly agreed to in advance. Contributed services are reported as contributions of nonfinancial 
assets and services revenue and in-kind service expenses in the consolidated statements of activities. 
Fair value is estimated based on current local rates for similar services. 
A substantial number of volunteers make significant contributions of their time in the furtherance of the 
Foundation’s projects. The value of this contributed time is not reflected in the accompanying 
consolidated financial statements, as the criteria above are not met. 
Contributed service revenue and expenses recorded in the consolidated statements of activities consist 
of contributed legal services, engineering services, subscription services, and internet hosting services 
and bandwidth. The amounts of specialized contributed legal services as revenue and expenses are 
$82,638 and $493,315 for the years ended June 30, 2024 and 2023, respectively. The value of 
specialized engineering services as revenue and expenses are $0 and $498,800 for the years ended 
June 30, 2024 and 2023, respectively. The value of donated subscription services as revenue and 
expenses was $124,738 and $0 for the years ended June 30, 2024 and 2023, respectively. The 
amounts of contributed internet hosting services and bandwidth for the years ended June 30, 2024 and 
2023 is $56,100 and $48,338, respectively. Included in the 2024 and 2023 amounts are donated 
hosting services and bandwidth from the following companies: (1) FiberRing, (2) Tele2, (3) Datahop, 
(4) LibertyGlobal, (5) Init7, and (6) Arelion. 
(m) Revenue Recognition – Contracts With Customers 
The Foundation recognizes revenue from contracts with customers related to Wikimedia, LLC under 
Accounting Standards Codification Topic 606, Revenue from Contracts with Customers, which 
establishes a principle that revenue is recognized upon transfer of control of promised products and 
services to customers in an amount that reflects the consideration the Foundation expects to receive in 
exchange for those products or services.  
The Foundation determines the amount of revenue to be recognized through the application of the 
following 5-step process: 1) identification of the contract, or contracts, with a customer; 2)  identification 
of the performance obligations in the contract; 3) determination of the transaction price; 4) allocation of 
the transaction price to the performance obligations in the contract; and 5) recognition of revenue when 
or as the Foundation satisfies the performance obligations.