Icann Financials Rela$$$$$$$$$$$ed

[Theo]

Sorry, did I use too many dollar signs? That's because it's mucho dinero, amigos.

 

[Gerry]

On top of crazy salaries, the expenses point to living a lavish lifestyle on the road.

I am sure no one for ICANN flies coach. And doubtful few drive their own cars.

It is a gross figure and everyone should be outraged. Being a non-profit, typically they must spend the money brought in. So why not spend it on themselves.

 

[Theo]

Gerry, open the PDF and check out the hours put in by the top officials: 60 /week. That's 12 hours per every day of the 5-day week for a year. Seriously.

 

[Gerry]

New GTLD Application Fees - $158,085,751...

About an 800% increase in income over the past 5 years...

Who exactly is the beneficiary of the "person" contributions, up to $310,000 to one individual...

Being a "non-profit", it amazes me how "surprising" it is that they essentially had $158mil in new bucks which was offset by $150mil in expenses. That plus salaries, on paper it looks like a "break even" year - ergo, not for profit status.

Anyone buying this creative accounting strategy?

 

[GeorgeKGeorgeK is verified member.]

Indeed, it is outrageous. I'm glad that more and more people are becoming aware of the situation (I was the one who made the formal request for the IRS Form 990 from ICANN yesterday, which compelled them to publish it; same thing last year, etc.). If one goes back into the historical Form 990 records from prior years, you can see quite clearly how ICANN's mission has been perverted, from one that is supposed to benefit the public to one that instead benefits ICANN insiders and parasites in their ever-expanding "ecosystem" of consultants and contractors.

 

[GeorgeKGeorgeK is verified member.]

Theo: ICANN has always claimed their staff work 60 hours/week (always exactly that number, not more, not less, not rounded, etc.). But, check how many of them work from home offices, etc. I bet if one actually put an external monitor on them and timed things, the true figures would be much lower.

 

[Gerry]

If they spent $150mil on expenses last year...then how did these poor souls manage to survive all the previous years?

 

[Theo]

I've been 'blessed' with a cold as of last night, and the numbers were off. Thankfully, George sent me the proper figure: the increase in expenses is 116% year over year, not 73%.