To further complicate the financial controls, the WMF established a separate endowment at the [[Tides Foundation]] which is controlled by that foundation in consultation with an advisory board. Instead of having a community-selected advisory board or the entire WMF Board serving as the advisory board, the Tides Foundation appointed a new group with Wales and large donors serving. When the endowment reaches its fundraising target, the advisory board decides whether the funds should stay at the Tides Foundation, be transferred to the WMF, or used in some other way. So, if Wales has a falling out with the WMF Board over the next ten years, he and his hand-picked advisory board could take the Wikipedia endowment somewhere else. The editing community has no say in the endowment—who manages it or how the income will be spent. | To further complicate the financial controls, the WMF established a separate endowment at the [[Tides Foundation]] which is controlled by that foundation in consultation with an advisory board. Instead of having a community-selected advisory board or the entire WMF Board serving as the advisory board, the Tides Foundation appointed a new group with Wales and large donors serving. When the endowment reaches its fundraising target, the advisory board decides whether the funds should stay at the Tides Foundation, be transferred to the WMF, or used in some other way. So, if Wales has a falling out with the WMF Board over the next ten years, he and his hand-picked advisory board could take the Wikipedia endowment somewhere else. The editing community has no say in the endowment—who manages it or how the income will be spent. |