> KPMG dishes the dirt on the WMF

thekohser

The audit of the WMF's most recent complete fiscal year is now released by KPMG and the Foundation.

Of course, there is the requisite "Q & A" to stifle any sort of critique, by phrasing the "answers" in incoherent sentences of poor construction:

QUOTE

How do the financial statements for 2009-10 compare with the statements for 2008-09? What's the overall takeaway message?
In general, both revenue and spending increased compared with 2008-09. Contributions and revenue increased and we increased spending in three ways-one-time spending for the Strategic Plan, the Bookshelf project and the Communications Campaign (approx. $1.5MM), spending related to donor-restricted funding such as improving user-friendliness (Stanton Foundation) and Wikimania scholarships (OSI and Lounsbery Foundations), (approx. $600K) and finally spending related to our core operations which included additional Tech and other Programmatic hires, increased rent and and operating costs related to increased hiring, higher hosting costs and spending on grants awarded to chapters and individuals.

"ways-one-time"?

Zoloft

QUOTE(thekohser @ Tue 26th October 2010, 9:42am)

The audit of the WMF's most recent complete fiscal year is now released by KPMG and the Foundation.

Of course, there is the requisite "Q & A" to stifle any sort of critique, by phrasing the "answers" in incoherent sentences of poor construction:

QUOTE

How do the financial statements for 2009-10 compare with the statements for 2008-09? What's the overall takeaway message?
In general, both revenue and spending increased compared with 2008-09. Contributions and revenue increased and we increased spending in three ways-one-time spending for the Strategic Plan, the Bookshelf project and the Communications Campaign (approx. $1.5MM), spending related to donor-restricted funding such as improving user-friendliness (Stanton Foundation) and Wikimania scholarships (OSI and Lounsbery Foundations), (approx. $600K) and finally spending related to our core operations which included additional Tech and other Programmatic hires, increased rent and and operating costs related to increased hiring, higher hosting costs and spending on grants awarded to chapters and individuals.

"ways-one-time"?

"approx. $1.5MM" MM? WTH?
"and and" also also

Malik Shabazz

QUOTE(Zoloft @ Tue 26th October 2010, 12:53pm)

"approx. $1.5MM" MM? WTH?
"and and" also also

M=Thousand
MM=M squared=Million

Apathetic

QUOTE(thekohser @ Tue 26th October 2010, 12:42pm)

The audit of the WMF's most recent complete fiscal year is now released by KPMG and the Foundation.

Of course, there is the requisite "Q & A" to stifle any sort of critique, by phrasing the "answers" in incoherent sentences of poor construction:

QUOTE

How do the financial statements for 2009-10 compare with the statements for 2008-09? What's the overall takeaway message?
In general, both revenue and spending increased compared with 2008-09. Contributions and revenue increased and we increased spending in three ways-one-time spending for the Strategic Plan, the Bookshelf project and the Communications Campaign (approx. $1.5MM), spending related to donor-restricted funding such as improving user-friendliness (Stanton Foundation) and Wikimania scholarships (OSI and Lounsbery Foundations), (approx. $600K) and finally spending related to our core operations which included additional Tech and other Programmatic hires, increased rent and and operating costs related to increased hiring, higher hosting costs and spending on grants awarded to chapters and individuals.

"ways-one-time"?

Probably meant to write "...increased spending in three ways: one-time spending..."

jayvdb

QUOTE(Malik Shabazz @ Tue 26th October 2010, 6:28pm)

QUOTE(Zoloft @ Tue 26th October 2010, 12:53pm)

"approx. $1.5MM" MM? WTH?
"and and" also also

M=Thousand
MM=M squared=Million

eh?

M is thousand in Roman numerals. MM would then be two thousand.

Zoloft

QUOTE(Malik Shabazz @ Tue 26th October 2010, 11:28am)

QUOTE(Zoloft @ Tue 26th October 2010, 12:53pm)

"approx. $1.5MM" MM? WTH?
"and and" also also

M=Thousand
MM=M squared=Million

Googling $1.5MM, I see this usage in a number of places.

*folds arms in front of himself*

Doesn't mean I have to like it.

I took accounting classes, dammit!

MZMcBride

I changed the "mm"s and corrected the "and and" in this edit. Thank you all for the copy-editing.

Kelly Martin

$xMM is bog-standard accounting jargon for millions. Obviously none of you have ever read a financial report or investment prospectus.

MZMcBride

QUOTE(Kelly Martin @ Wed 27th October 2010, 1:16am)

$xMM is bog-standard accounting jargon for millions. Obviously none of you have ever read a financial report or investment prospectus.

... for millions, the amount, not millions of people, I imagine. I think it's unnecessarily confusing, especially when written in lowercase.