Folks, that was just a quick post to get people primed for the new sums. Those numbers posted above were from the PREVIOUS Form 990. This more recent one gives us a measuring stick over time:
Sue Gardner's total compensation:
$175,050 in 2008-09
$240,159 in 2009-10During this time period, the U.S. unemployment rate went from 6.0% to 9.6%. Median household income did not grow, or slightly decreased, at around $49,800. That is, Gardner's personal income was nearly 5x the median household income, which includes many two-earner families.
Her increase in compensation was 37.2 percent. By comparison, the CEOs of the S&P 500 during this same period saw their compensation
decline 9 percent.
Mike Godwin's total compensation:
$128,139 in 2008-09
$133,209 in 2009-10Compared to Sue, Mike received "only" an increase of 4.0 percent. Sue could have purchased a new 2009 Mercedes-Benz E Class sedan with her raise. Mike could have purchased a used 2005 Dodge Neon with his raise. Maybe that's why Mike Godwin
left the Wikimedia Foundation.
Veronique Kessler's total compensation:
$121,859 in 2008-09
$135,844 in 2009-10Veronique got an 11.5 percent raise -- about 2.75 times larger a raise than Godwin's, dollar for dollar.
Total revenue for the organization:
$8,137,235 in 2008-09
$16,254,866 in 2009-10
Revenues almost exactly doubled.
While program expenses a little more than doubled:
$3,308,546 in 2008-09
$7,503,956 in 2009-10
So that's why the ratio of program expenses to revenue rose from the practically criminal 40.66% to the simply shameful 46.2%.
Highest-paid contractors:
BRIDGESPAN GROUP of Boston, for consulting totaling $304,210.
FENTON COMMUNICATIONS of Oakland, for communications totaling $195,000.
SQUIRE SANDERS AND DEMPSEY LLP of Tysons Corner, Virginia, for legal services totaling $116,627 (stuff that Mike Godwin couldn't handle on his own).
Return on investments:
In this report, the WMF made only $11,205 in reportable investment income, even though by the end of the reporting year, they had $2,500,000 in savings and temporary cash investments. Still this year showed a huge increase in more diversified securities investments (about a $5.4 million increase). The "war chest" has grown from $8.2 million to $14.5 million. If Sue knows how to do one thing, it's squirreling away money into bank accounts and securities, rather than spending it on management of the sum of human knowledge.
PayPal:
PayPal made over $311,000 from all of the transactions that gullible donors made when giving to the Foundation.
Notes:
The organization still doesn't have a written document retention and destruction policy.