A meeting of the Finance Committee of the Internet Society (ISOC) was held on Wednesday, April 28, 2021 at 15:00 UTC. In attendance were Richard Barnes, Treasurer and Chair of the Finance Committee with George Sadowsky, Gonzalo Camarillo, and Laura Thompson as members of the Finance Committee. Ted Hardie sent his regrets.
Also, in attendance were ISOC staff Andrew Sullivan, ISOC’s President and Chief Executive Officer, Sandy Spector, Chief Financial Officer and Senior Vice Present of Business Operations, Sarah Armstrong, Internet Society Foundation’s Executive Director, and Sae Park, Senior Director, Finance. John Hahn, Vice President, Investment Management and Stephanie Kenary, Vice President, Portfolio Manager of Goldman, Sachs & Co. LLC were in attendance for part of the meeting.
Call to Order
Richard called the meeting to order.
Internet Society and Internet Society Foundation: Q1 2021 Financial Results
Sandy explained that a video recording and presentation materials on the Q1 2021 financial results were distributed on Monday, April 26, 2021. She then opened the floor to questions. The Committee raised some questions on the long-term planning and strategies around diversifying revenue sources and disbursing grants which were answered to by Sandy and Andrew.
Q1 2021 Investment Performance Review and Market Overview
John from Goldman Sachs provided an overview of the Q1 2021 portfolio performance and investment strategies for the Internet Society and the Internet Society Foundation. Then, Stephanie at Goldman Sachs reviewed the Q1 2021 economic climate and the economic outlook, including Goldman Sachs’ recommendations for a sustained investment portfolio.
Adjournment
The meeting was adjourned at 15:53 UTC.
All Board Finance Committee Meeting Minutes