[Foundation-l] Wikimedia financials - bank fees

[Philippe Beaudette]

I'm not in accounting, but my guess is that this involves Paypal processing
fees for the fundraiser...

pb
___________________
Philippe Beaudette
Director, Community Advocacy
Wikimedia Foundation, Inc.

415-839-6885, x 6643

philippe at wikimedia.org



On Sat, Mar 10, 2012 at 9:38 PM, En Pine <deyntestiss at hotmail.com> wrote:

>
> I notice that the financial report at
> https://meta.wikimedia.org/wiki/Wikimedia_Highlights,_February_2012 says
> something about “higher bank fees ($42K)”. Has anyone taken a hard look at
> these fees to see if WMF could organize its utilization of bank services in
> such a way that it can lower this expense, including the possibility of
> moving the WMF’s bank account(s) to one or more different financial
> institutions? $42k seems like a very large amount of money for a nonprofit
> such as WMF to spend on bank fees in a single month. I can speculate that
> the definition of bank fee might include things like currency conversion
> fees, but even so, $42k seems like a lot.
>
> Pine
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