alt Hacker NewsWhere and how they spent their money is on p. 21 of this PDF [1] which can be obtained from this official source [2]. This is just a high-level breakdown, but it does illustrate that, for example, more than twice as much is spent on "Donation processing expenses" ($7.5M) as "Internet hosting" ($3.1M), and that the largest line item, by far, is "Salaries and benefits" ($106M).
[1]: https://wikimediafoundation.org/wp-content/uploads/2025/04/W...
[2]: https://wikimediafoundation.org/annualreports/2023-2024-annu...
Well obviously salaries will be the highest expense in any organization like this. The more interesting question is if it's salaries to security programmers or teachers at an african womens' coding bootcamp (yes they did spend money on that, and yes it's probably useful, but hardly what people think of when they see those "donate now to keep wikipedia alive" banners). A big percentage probably goes to their CEO who does who knows what.