Meeting (30 May 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 and committee members Ramanou Biaou, Ted Hardie, Caleb Ogundele, Robert Pepper, and Jon Peterson.

Internet Society Staff in Attendance

Chief Financial Officer Sae Park and Director of Governance and Board Operations Lauren Terrell.

Call to Order and Welcome

Ms. Thomson called the meeting to order at 14:04 UTC and welcomed attendees.

Approval of Previous Meeting Minutes

The 4 March 2024 Finance Committee meeting minutes were unanimously approved as presented.

First Quarter 2024 Financial Results for Internet Society and Internet Society Foundation

Ms. Park reviewed the first quarter 2024 financial results for the Internet Society, including statement of activities, budget to actual variances in revenue and expenses, updated revenue projections, public support test projections, expenses by function, restricted funds, and statement of financial position.

Ms. Park then reviewed the first quarter of 2024 financial results for the Internet Society Foundation, including the statement of activities, revenue, expenses, board designated funding, expenses by function, and the statement of financial position.

Discussion ensued.

Ms. Park also reviewed the Connected Giving Foundation’s financials, including the statement of activities and investment activities.

Financial Disclosure on Internet Society’s Website

The committee reviewed the Internet Society’s current practice regarding financial disclosures on the website, which include standalone financial reports and Form 990s. A revised format was proposed to the committee for the standalone financial reports, consisting of details on revenue streams and expenses for major programmatic and operations areas.

Discussion ensued and the committee directed Ms. Park to move forward with implementation of the proposed revised format.

CEO Transition Costs Update

Ms. Park provided an update on the costs and projections associated with the CEO transition.

Discussion ensued.

Any Other Business

Ms. Thomson thanked Mr. Pepper and Mr. Peterson, who are transitioning off the Internet Society board, for their service to the Finance Committee.

Adjournment

With no other business, Ms. Thomson adjourned the meeting at 14:53 UTC.

All Board Finance Committee Meeting Minutes

Meeting (30 May 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)