Well, they apparently did donate to some woke-adjacent pseudoscience, which seems like a waste of money to me. Regardless, I agree with you that the question isn't where some $0.25 million went, but why they are spending $100 million and still asking for donations with that misleading message, while a few years ago they were spending a small fraction of that even though their hosting costs were actually higher back then. It increasingly looks like Wikimedia as an organisation has a parasitical relationship with Wikipedia, doing enough to keep its host alive with a small fraction of its budget, while benefiting from the work of volunteers and not even fixing longstanding issues with the software that the volunteers ask to be fixed. Even beyond fixing bugs, I'd be happy to add to their $100 million budget if they actually did useful things with it. I can easily think of 10 features that would improve Wikipedia. For instance, Wikipedia pages such as "list of countries by GDP per capita" (https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(PPP)...) are useful, but the table UI is not that great and the map is a non-interactive PNG image. For $100 million, why can't we hover over the country and see its name and the exact GDP per capita number?

The Wikimedia Foundation collects money in places like India, South Africa and South America with those misleading messages:

https://www.dailydot.com/debug/wikipedia-endownemnt-fundrais...

Most of the money from the Knowledge Equity Fund so far has gone to organisations in the U.S. I think that indicates how much genuine thinking about diversity is taking place in the Wikimedia Foundation.