Today, the Internet Corporation for Assigned Names and Numbers (ICANN) published its audited consolidated financial statements and Public Technical Identifiers (PTI) published its audited financial statements for the fiscal year ending 30 June 2021.
The audited financial statements for both ICANN and PTI are accompanied by an "unqualified" opinion from BDO USA, LLP, ICANN's and PTI's independent audit firm, indicating that the audit did not identify any issues.
ICANN's consolidated financial statements are presented for convenience and informational purposes. These statements and other financial documents are posted to the ICANN Current Year Financial Reports page and the Financial Information for Public Technical Identifiers (PTI) page.
- Click here to view the ICANN FY21 Audited Consolidated Financial Statements
- Click here to view the PTI FY21 Audited Financial Statements
ICANN FY21 Financial Statements Highlights
Notably, FY21 funding was $142 million, which remains consistent with previous years' trends, demonstrating the domain name market's resilience in a context where the world relied primarily on digital communications. Additionally, ICANN's funds under management totaled $444 million, which included all cash on hand and investments, excluding new gTLD application funds.
ICANN's operational expenses were $116 million in FY21, which were lower than the budget, primarily due to low travel-related expenses and ICANN's virtual public meetings.
ICANN incurred $8 million in operating expenses to process new gTLD applications in FY21, leaving the FY21 year-end balance of the 2012 new gTLD application funds at $77 million. ICANN continues to incur evaluation costs to process the remaining applications and risk related expenses, for which these funds will be used.
New Revenue Recognition Standard
Starting with FY21, all public, private, and non-profit entities (including ICANN) were required to adopt a new revenue recognition standard, ASC 606, which was issued by the Financial Accounting Standards Board. Adopting this standard had no impact to ICANN's funding, cash balances, or fees collected from registries and registrars. Rather, the adoption of ASC 606 only impacted the timing of the recognition of the revenue from the application fees associated with the 2012 round of the New gTLD Program.
PTI was incorporated in August 2016 as an affiliate of ICANN. Pursuant to contracts and subcontracts with ICANN, PTI coordinates the Internet's unique identifiers and provides these services in an unbiased, responsible, and effective manner. Mainly, PTI is responsible for the operation of the following IANA functions: domain names, number resources, and protocol parameter assignments. Learn more about the delivery of the IANA services here.