[joshsimmons]

The Foundation has a Master Services Agreement (MSA) with Element which includes administrative services (accounting, legal, etc), operation of the matrix.org homeserver, and secondment of several personnel whose responsibilities include advocacy, program management, standards work, and trust and safety. The MSA also includes provisions for the Foundation to reimburse Element for any bills they pay on our behalf.

For the most part, the Foundation hasn't directed much funding to active development as other folks in the ecosystem have been doing that ably. That isn't to say we don't fund development though – most recently we've been investing in developing open source trust and safety tools.