WIKIMEDIA FOUNDATION, INC. 
Notes to Consolidated Financial Statements 
June 30, 2024 and 2023 
 7 (Continued) 
Once such stipulations are satisfied, the associated net assets are released from net assets with donor 
restrictions and recognized as net assets without donor restrictions. 
Contributions received are recorded as net assets without donor restriction or net assets with donor 
restrictions depending on the existence and/or nature of any donor restrictions.  
(e) Cash and Cash Equivalents 
The Foundation manages its cash through major financial institutions. At June 30, 2024 and 2023, the 
carrying amount of the Foundation’s general ledger cash held primarily in nationally recognized 
financial institutions is $60.0 million and $63.9 million, respectively. Cash balances are insured by the 
Federal Deposit Insurance Corporation (FDIC) up to the applicable limits. Cash balances held in these 
financial institutions at June 30, 2024 and 2023 exceed the applicable FDIC insurance limits. The 
Foundation’s current practice is to maintain at least four months of cash and cash equivalents to 
support a combination of operating cash and a current reserve fund. The Foundation considers all 
highly liquid investments with an original maturity of three months or less when purchased to be cash 
equivalents. Cash equivalents of $22.8 million and $12.0 million as of June 30, 2024 and 2023, 
respectively, are considered Level 1 under ASC Topic 820, Fair Value Measurement. 
(f) Restricted Cash 
Restricted cash includes standby letters of credit for (1) the Foundation’s headquarters office lease and 
(2) one of the Foundation’s Employer of Record responsible for administering compensation and 
benefits for non-US personnel. As of June 30, 2024, neither letter of credit has been used. 
(g) Contributions Receivable 
Contributions receivable represent gift amounts due from various entities, which are occasionally 
directed at specific activities. Contributions receivable due more than one year from the contribution 
date are discounted to present value using a fair value rate based on the U.S. Treasury bond rate and 
reflect the risks inherent in these cash flows. Contributions receivable are subject to review and 
adjustment by management should amounts be deemed uncollectible. 
(h) Investments 
The Foundation’s policy regarding investments is to invest cash in short-term, intermediate-term, and 
long-term fixed income, and equity instruments without assuming material undue risk to principal. 
Preservation of principal and maintenance of liquidity are priorities over yield. Investments are reported 
at fair value with realized and unrealized gains and losses, and accrued interest included as a 
component of the change in net assets. Additionally, the Foundation holds no shares of donated stock 
as of June 30, 2024 or 2023, consistent with its policy to sell stock received through donations as soon 
as possible. 
The Foundation presents its investment portfolios as short-term and long-term based on expectations 
of the holding period of the investment in line with the investment guidelines stipulated in the 
investment policy. 
ASC Topic 820 establishes a fair value hierarchy that prioritizes observable inputs to valuation 
techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted