Meeting (22 October 2025)

Minutes from the Joint Meeting of the Internet Society Audit Committee and Internet Society Foundation Audit Committee

Committee Members in Attendance

Audit Committee Chair Sagarika Wickramasekera, Olufunke Baruwa, Brian Haberman, Russ Housley, Charles Mok, and Caleb Ogundele

Internet Society Staff in Attendance

Chief Financial Officer Sae Park and General Counsel Ilona Levine, Finance Senior Director Jon Keplinger, and Global Compliance Director Briana Stevens

Guests in Attendance

BDO LLC Tax Managing Director and CPA Todd Teresco, and Tax Manager and CPA Breann Brooks

Call to Order and Welcome

Ms. Wickramasekera called the meeting to order at 13:03 UTC and welcomed attendees.

On motion and seconded, the committee approved the minutes as presented from the joint meeting of Internet Society (ISOC) and ISOC Foundation on 4 June 2025.

Review of the U.S. IRS 2025 Form 990 (Return of Organization Exempt from Income Tax) for the Internet Society and Internet Society Foundation

Mr. Teresco and Ms. Brooks summarized the purpose of the Form 990 and reviewed the draft Form 990, along with the supporting Schedules, for both Internet Society and Internet Society Foundation, as provided to the committee in advance of the meeting.

Discussion ensued.

The Audit Committee accepted the draft Form 990 with a request to add ISOC Europe to Schedule R. Ms. Park will distribute the draft Form 990 to the Board of Trustees for review before submission by the due date of 17 November 2025.

Compliance Update

Ms. Stevens shared an update on ISOC’s compliance program, including compliance screenings and adherence to sanctions regulations, with a focus on the fellowship programs. Additional updates around internal policies and compliance training were also provided by Ms. Stevens.

Discussed ensued.

Any Other Business

Ms. Park reminded the Committee that it had approved the continued engagement of BDO for another two years during a past meeting, and BDO will complete the second year of the extended engagement with the audit of the 2025 financials. Management will conduct performance assessments and provide a proposal for the Committee’s consideration during the following meeting.

No other business was raised.

Adjournment

Ms. Wickramasekera adjourned the meeting at 14:00 UTC.