text: **(1) Organization and Summary of Significant Accounting Policies**
  
  ***(a) Organization and Purpose***
  
  The accompanying consolidated financial statements present the financial position, change in net 
  assets and cash flows of the Wikimedia Foundation, Inc. (the Foundation) and Wikimedia, LLC. 
  
  The Foundation is the nonprofit organization that operates Wikipedia, a free online encyclopedia. 
  Based in San Francisco, California, the Foundation is a 501(c)(3) charity that is funded primarily 
  through donations and contributions. 
  
  The Foundation also operates Wikimedia, LLC, a Delaware Limited Liability Company, with the 
  Foundation as its Sole Member. The Wikimedia, LLC is organized and operated exclusively for 
  charitable and educational purposes within the meaning of section 501(c)(3) of the Internal Revenue 
  Code and is a disregarded entity for tax purposes. 
  
  ***(b) Risks and Uncertainties***
  
  The Foundation’s operations are funded primarily by public donations from individuals as well as gifts 
  from foundations and corporations. External factors such as global geopolitics, recession, and currency 
  markets may impact our ability to raise funds. As of the date of this report, the Foundation has not 
  experienced an adverse impact on its business operations. 
  
  ***(c) Income Taxes***
  
  The Foundation is exempt from federal income tax under Section 501(c)(3) of the Internal Revenue 
  Code and from state income tax under Chapter 220.13 of the Florida Statutes and Sections 23701d of 
  Revenue and Taxation Code of the State of California. The Internal Revenue Service has determined 
  that the Foundation is not a private foundation and contributions to it qualify as charitable contributions. 