Meeting (9 August 2022)

The Finance Committee of the Internet Society and the Internet Society Foundation Meeting was help at 15:00 UTC on Tuesday, 9 August (via Video conference call). In attendance were Laura Thompson, Treasurer and Chair of the Finance Committee with John Peterson, George Sadowsky, Robert Pepper and Ted Hardie as members of the Finance Committee.

Also present were Andrew Sullivan, President and Chief Executive Officer, Sae Park, Chief Financial Officer, Sarah Armstrong, Executive Director, Internet Society Foundation, and Judy Kellett, Senior Manager, Budgeting & Forecasting. John Hahn, Ann Shapiro, and Shantall Tegho from Goldman Sachs & Co. were in attendance for most of the meeting.

Call to Order

Laura called the meeting to order.

2022 Investment Performance Review and Market Outlook

John, Ann, and Shantall from Goldman Sachs reviewed the current economic climate and provided and update on the market outlook. There was also discussion on the portfolios’ asset allocation. Adding some volatility was recommended. The committee will review the recommendation before moving forward. The materials discussed were provided to the Finance Committee prior to the meeting. There were a few questions from the committee which were address by the Goldman Sachs team.

Update from CFO’s Update on the Analysis of Non-US Transactions – Sae Park

Sae Noted that the 2nd Quarter Financial Analysis would be available via recording due to the time constraints of this meeting. Sae presented her analysis and the findings which showed that continuing to use the spot rate did not negatively affect the earning of the organization.

Any Other Business & Adjournment

With no other business, Laura adjourned the meeting at 15:56 UTC