At reference 1, I had a moan about aggressive fund raising from wikipedia, whose offerings I make a good deal of use of.
This to notice their admirably open accounts, with a window onto to those accounts being provided at reference 2. I assume that it is pretty much the whole story that one gets there, that their accounting is straightforward, not like that, for example, of the Virgin operation.
From which I learn that their outgoings are of the order of $60m a year, and, with the modest exception of contributions by foundations, all found by donations. I did not find any analysis of those donations.
They also appear to be alive to various threats, or risks in the jargon of management consultants. One being declining readership in the rich parts of the northern hemisphere, the source of most of those donations. Another being the possible emergence of for-profit rivals.
PS: their fund raising computer program went so far as to send me an email purporting to come from Mr. Wales himself, on the strength of which I have made another donation.
Reference 1: http://psmv3.blogspot.co.uk/2017/12/taro.html.
Reference 2: https://wikimediafoundation.org/wiki/Financial_reports#2016.E2.80.932017_fiscal_year.
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