On 8/21/17 6:48 PM, Rogol Domedonfors wrote:
I'm know that the WMF has determined that it
should have some form of
endowment, The question is -- as is usual in question of this sort -- one
of balance: in this case, balance between current spending for the benefit
of the projects today, and accumulating capital for the benefit of the
projects tomorrow. I am asking the Board to say why they decided to strike
that balance where they did -- given the obvious need for that support
right now -- and whether it is appropriate for large donors to apparently
influence that decision.
I can't speak for anyone other than myself.
Given the level of reserves that the WMF has today, your entire approach
here (the assumption that $5 million going into the endowment therefore
reduces spending) is invalid. There is enough money to do both.
The question is therefore not "Why did you save the money for the future
rather than spend it today?"
The question is: why don't we increase spending today?
We have always followed, and should continue to follow, a thoughtful
process of strategic planning and budgeting. A windfall of cash from a
successful fundraising should never give rise to immediate and poorly
planned spending.
If you believe, as I do, that we have a great opportunity to responsibly
spend more money at the Foundation on suporting the projects in the next
few years - then please support the strategic planning process - that's
the right forum to have a voice in what happens next.
Random demands for explanations on the mailing list - particulary when
so fundamentally mistaken in basic assumptions - aren't really helpful.
--Jimbo