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Quoting myself from elsewhere:
You can look through my profile to see the exchanges where people say all of those things and then I respond, if you want to see in depth where and how people are saying it, and my arguments for why it isn’t true.
I had heard a long time ago that Wikipedia donations are largely useless and haven't actually gone to anything but profits in awhile. That second part however is demonstrably false with Wikipedia one of the few information outlets that CORRECTLY label Israel's actions as genoicde.
Their financial statements are public: https://wikimediafoundation.org/about/financial-reports/
There's no profit, since they are a nonprofit. They have a couple of years' operating expenses saved up, which is nice. They've been giving away a lot of it to various research projects, and they pay everyone a comfortable salary, which is also nice. People in the comments have been assuring me that this is a sign that they're incredibly corrupt, for example describing the research project thing as a bad thing (sponsoring "weird" research) or saying it's a problem that they paid the CEO around $700k in one year.
Actually, they started out with the earlier claims like that they were friendly with fascists or that $300M went missing every year, and then only switched over to "their financials are good and they pay salaries, and that's a problem, all they should need to pay is hosting" once all the earlier stuff failed to hit. It doesn't sound like they're hurting for money, but maybe being aggressive about soliciting donations is the reason they're not hurting for money. They don't get substantial income from anything other than donations, it looks like. But yes, if you wanted to support a project that really needs it, maybe the Internet Archive is a better place to start.