Meeting (3 September 2024)

Minutes from a Joint Meeting of the Internet Society and Internet Society Foundation Finance Committee Meeting

Committee Members in Attendance

Finance Committee Chair Laura Thomson, committee members Ramanou Biaou, Ted Hardie, Kathleen Moriarty, and Caleb Ogundele, and ex officio member President and Chief Executive Officer Sally Wentworth.

Internet Society Staff in Attendance

Chief Financial Officer Sae Park, Senior Manager Budgeting and Forecasting Judy Kellett, and Director of Governance and Board Operations Lauren Terrell.

Guests in Attendance

Present for a portion of the meeting was Goldman Sachs Vice President John Hahn, Vice President Alternative Capital Markets Guillaume Schils, and Portfolio Manager Stephanie Kenary.

Call to Order and Welcome

Ms. Thomson called the meeting to order at 14:00 UTC and welcomed attendees.

Approval of Previous Meeting Minutes

The 30 May 2024 Finance Committee meeting minutes were unanimously approved as presented.

Investment Portfolio and Market Update from Goldman Sachs

Mr. Hahn provided an overview of market conditions and future outlook.

Mr. Schils discussed private assets, the difference between public assets and private assets, the benefits of investing across different asset classes, and the typical life cycle of private investment funds.

Discussion ensued and focused on portfolio risk, shifting market risks, anticipated direction of real estate assets, and fee structures.

Following the discussion, Mr. Hahn, Mr. Schils, and Ms. Kenary left the meeting.

The committee agreed to meet at a future date to discuss in more detail. No further action was taken by the committee.

Q2 2024 Financial and Mid-Year Forecast Results

Ms. Park noted that the second quarter 2024 financial results for the Internet Society, Internet Society Foundation, and Connected Giving Foundation were provided in board meeting packet for review prior to the meeting.

Discussion ensued and focused on the status of Internet Society generated revenue and fundraising strategy, and the public support test.

Any Other Business

No other business was raised.

Adjournment

With no other business, Ms. Thomson adjourned the meeting at 14:57 UTC.

All Board Finance Committee Meeting Minutes

Meeting (3 September 2024)

• Meeting (29 May 2025)
• Meeting (28 October 2024)
• Meeting (3 September 2024)
• Meeting (30 May 2024)
• Meeting (4 March 2024)
• Meeting (30 October 2023)
• Meeting (30 August 2023)
• Meeting (5 June 2023)
• Meeting (22 March 2023)
• Meeting (31 October 2022)
• Meeting (9 August 2022)
• Meeting (3 March 2022)
• Meeting (4-5 December 2021)
• Meeting (28 April 2021)
• Meeting (30 October 2020)
• Meeting (29 July 2020)
• Meeting (24 April 2020)
• Meeting (24 February 2020)
• Meeting (1 November 2019)
• Meeting (14 August 2019)
• Meeting (17 May 2019)
• Meeting (23 April 2019)
• Meeting (4 February 2019)
• Meeting (9 May 2018)
• Meeting (1 December 2017)
• Meeting (18 August 2017)
• Meeting (17 May 2017)
• Meeting (16 March 2017)
• Meeting (22 November 2016)
• Meeting (18 August 2016)
• Meeting (13 May 2016)
• Meeting (16 March 2016)
• Meeting (13 November 2015)
• Meeting (19 August 2015)
• Meeting (7 May 2015)
• Meeting (26 February 2015)
• Meeting (30 October 2014)
• Meeting (19 August 2014)
• Meeting (13 May 2014)
• Meeting (10 March 2014)
• Meeting (28 October 2013)
• Meeting (26 September 2013)
• Meeting (11 September 2013)
• Meeting (15 May 2013)
• Meeting (28 March 2013)
• Meeting (3 August 2012)
• Meeting (7 May 2012)
• Meeting (5 March 2012)
• Meeting (8 November 2011)
• Meeting (28 September 2011)