Meeting (24 February 2025)

Minutes from a Joint Meeting of the Internet Society (ISOC) and ISOC Foundation Finance Committees – 24 February 2025

Committee Members in Attendance

Finance Committee Chair Laura Thomson and committee members Ramanou Biaou, Ted Hardie, Kathleen Moriarty, and Caleb Ogundele, and President and CEO Sally Wentworth (ex officio).

Internet Society Staff in Attendance

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

Guests Present

Goldman Sachs Vice President John Hahn, US Economist, Investment Strategy Group Peter Foley, and Vice President, Sustainable Solutions Group Elissa Cook.

Call to Order and Welcome

Ms. Thomson called the meeting to order at 15:02 UTC, welcomed attendees, and provided an overview of the topics on the committee’s agenda.

The Finance Committee meeting minutes from 28 October 2024 were unanimously approved as presented.

Investment Portfolio and Market Update from Goldman Sachs

Mr. Hahn and Mr. Foley provided an overview of the 2025 market outlook and associated recommendations for ISOC investments. Discussion ensued.

Ms. Cook reviewed ISOC’s environmental, social, and governance (ESG) portfolio.

Following their presentation, Mr. Hahn, Mr. Foley, and Ms. Cook left the meeting.

2024 Pre-Audit Financial Results for Internet Society & Internet Society Foundation

The 2024 pre-audit financials for ISOC, ISOC Foundation, and Connected Giving Foundation were provided to the committee in advance of the meeting. Discussion ensued with committee members inquiring about the status, and strategic use, of the reserves.

Any Other Business

No other business was raised.

Adjournment

Ms. Thomson adjourned the meeting at 15:56 UTC.