With the help of over 125,000 donors, Wikipedia managed to reach its fundraising goal for fiscal year 2008. Starting with July 1, the money began gathering and reached the needed $6 million - $4 million were direct contributions, while $2 million were raised through gifts and support by the Wikimedia foundation.

Wikipedia’s founder, Mr. Jimmy Wales, posted a thank you note addressed to everyone of the people who accepted to get involved and help out.

“This combined revenue will cover our operating expenses for the current fiscal year, ending June 30, 2009,” Wales explained in his letter for the readers of the online user-submitted encyclopedia.

The foundation’s Web site presents the plans for 2009, as the donations will be used on further developing the open source software, on responding to the requests from the volunteer community, on expanding the foundation’s international volunteer community, and also for paying the financial, legal, administrative and fundraising expences.

In March 2008, the Alfred P. Sloan Foundation announced its decision to donate $3 million, with three yearly payments of $1 million.

Wales also stated that every other contribution, beyond the $6 million mark, will be included in a reserve fund, “which will help us to offset operating costs beyond the current fiscal year.”

Two years ago, the contributions received totaled $ 1.3 million and last year $2.2 million, improving with each passing year and showing a clear sign that people want to get involved and that the service provided by the foundation is truly appreciated.