WIKIMEDIA FOUNDATION, INC. 
Notes to Consolidated Financial Statements 
June 30, 2024 and 2023 
 13 (Continued) 
Fair value measurements at
reporting date using
Quoted prices Significant
in active other
markets for observable
identical assets inputs
(Level 1) (Level 2) June 30, 2023
Short-term investments:
Corporate bonds $ —  44,206,556  44,206,556  
Mortgage-backed securities —  7,234,758  7,234,758  
U.S. Treasury securities —  80,775,353  80,775,353  
Total $ —  132,216,667  132,216,667  
Long-term investments:
Corporate bonds $ —  3,365,167  3,365,167  
Stocks 29,030,332  —  29,030,332  
Mortgage-backed securities —  6,654,012  6,654,012  
U.S. Treasury securities —  4,216,275  4,216,275  
Total $ 29,030,332  14,235,454  43,265,786  
 
Fair Value of Financial Instruments 
The fair values of the financial instruments as of June 30, 2024 and 2023 represent management’s best 
estimate of the amounts that would be received to sell those assets or that would be paid to transfer those 
liabilities in an orderly transaction between market participants at that date. Those fair value measurements 
maximize the use of observable inputs. However, in situations where there is little, if any, market activity for 
the asset or liability at the measurement date, the fair value measurement refl ects the Foundation’s own 
judgments about the assumptions that market participants would use in pricing the asset or liability.  Those 
judgments are developed by the Foundation based on the best information available in the circumstances.  
The following methods and assumptions were used to estimate the fair value of each class of financial 
instruments: 
Cash and cash equivalents, restricted cash, current contributions receivable, prepaid expenses, 
other current assets, accounts payable, accrued expenses, and other liabilities: The carrying 
amounts approximate fair value because of the short maturity of these instruments.  
Investments: Marketable securities, such as stocks, are measured using quoted market prices at the 
reporting date multiplied by the quantity held. Mortgage-backed securities, U.S. Treasury securities, and 
U.S. corporate bonds are measured using significant other observable inputs, particularly dealer market 
prices for comparable investments as of the valuation date.