Because in this case, all the increases in contributions go straight to the executives. I think I’ve been very on-point with this. On most days, I would expect Lemmizens to be overwhelmingly anti-CEO. I guess this isn’t one of those days.
789k was pay + severance for Katherine Maher who left in 2021. Now that does seem excessive, I don’t know how that number came about or why severance was 600k but the year before Katherine’s comp was 406k. The compensation for the current CEO is 534k for 2023 per https://projects.propublica.org/nonprofits/organizations/200049703
Of course that seems like a lot of money, and it is, but to put it in perspective, I am just another software engineer and I make more than that. In HCOL areas, at “big tech” it’s common for entry level SDEs with a BS to make 160-180k.
So as I stated in a different comment, your criticism seems misplaced. What you have a problem with is really the financial situation our society is dealing with, and that’s perfectly reasonable. I would 100% agree that current wealth/pay distribution needs to be addressed.
I’m not going to disagree with your comments in regards to the compensation for the singular CEO. However, I think this is a more widespread issue within the foundation. (I did say “executives” in my last comment.) The chart below is straight from the Wikimedia Foundation wiki page and one expense category is increasing a lot quicker than the others. This chart is a little outdated now, but salary expenses have continued to increase. According to the last disclosure, salaries and benefits are now over $101-million. That’s almost double where the chart left off, all while other expense categories have barely moved. Internet hosting in 2023 was only $3.12-million.
Wikimedia has a lot of cash on hand. Even with the exorbitant spending over the years, the foundation and endowment combined have accumulated over $400-million. Through interest alone, I don’t see why the core functions of Wikipedia should ever be in financial jeopardy. This is especially the case if you consider that, even without persistent requests for donations, donations won’t just stop completely.
Why should non-profits not want to “rake in tons of cash” if it helps advance the mission of the non-profit?
Because in this case, all the increases in contributions go straight to the executives. I think I’ve been very on-point with this. On most days, I would expect Lemmizens to be overwhelmingly anti-CEO. I guess this isn’t one of those days.
789k was pay + severance for Katherine Maher who left in 2021. Now that does seem excessive, I don’t know how that number came about or why severance was 600k but the year before Katherine’s comp was 406k. The compensation for the current CEO is 534k for 2023 per https://projects.propublica.org/nonprofits/organizations/200049703
Of course that seems like a lot of money, and it is, but to put it in perspective, I am just another software engineer and I make more than that. In HCOL areas, at “big tech” it’s common for entry level SDEs with a BS to make 160-180k.
So as I stated in a different comment, your criticism seems misplaced. What you have a problem with is really the financial situation our society is dealing with, and that’s perfectly reasonable. I would 100% agree that current wealth/pay distribution needs to be addressed.
I’m not going to disagree with your comments in regards to the compensation for the singular CEO. However, I think this is a more widespread issue within the foundation. (I did say “executives” in my last comment.) The chart below is straight from the Wikimedia Foundation wiki page and one expense category is increasing a lot quicker than the others. This chart is a little outdated now, but salary expenses have continued to increase. According to the last disclosure, salaries and benefits are now over $101-million. That’s almost double where the chart left off, all while other expense categories have barely moved. Internet hosting in 2023 was only $3.12-million.
Wikimedia has a lot of cash on hand. Even with the exorbitant spending over the years, the foundation and endowment combined have accumulated over $400-million. Through interest alone, I don’t see why the core functions of Wikipedia should ever be in financial jeopardy. This is especially the case if you consider that, even without persistent requests for donations, donations won’t just stop completely.