The Wikimedia Foundation relies on public contributions and grants to fund its mission of providing free knowledge to every person in the world. It is exempt from federal income tax and from state income tax. It is not a private foundation, and contributions to it qualify as tax-deductible charitable contributions.

At the beginning of 2006, the foundation's net assets were $270,000. During the year, the organization received support and revenue totaling $1,510,000, with concurrent expenses of $790,000. Net assets increased by $720,000 to a total of over one million dollars. In 2007, the foundation continued to expand, ending the year with net assets of $1,700,000. Both income and expenses nearly doubled in 2007.

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