The GiveWell Blog

All Donations Posts

The Maximum Impact Fund is now the Top Charities Fund

| by Elie

We’ve decided to rename the Maximum Impact Fund to better describe what opportunities this fund supports. The Maximum Impact Fund will now be called the Top Charities Fund.

We recently announced changes to our top charity criteria that include a new requirement for our top charities: that we have a high degree of confidence in our expectations about the impact of their programs. Alongside this update, we also introduced a new giving option, the All Grants Fund. The All Grants Fund supports the full range of GiveWell’s grantmaking and can be allocated to any grant that meets our cost-effectiveness bar—including opportunities outside of our top charities and riskier grants with high expected value.

The new All Grants Fund is a complement to what we have called our Maximum Impact Fund, which is granted to cost-effective opportunities among our top charities. However, we’ve received feedback that describing the fund which supports grantmaking only to our top charities as having “Maximum Impact” is confusing in light of the opportunity to support a wider range of opportunities (with potentially higher expected value) through the All Grants Fund.

Based on this feedback, we’ve decided to change the name of the Maximum Impact Fund to the Top Charities Fund.

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An update on GiveWell’s funding projections

| by Elie

As little as six months ago, we were in the position of having more funding available than we could spend on opportunities that met our very high cost-effectiveness bar. Today, the opposite is true—we don’t expect to have enough funding to support all the cost-effective opportunities we find.

In this post we will: provide an update on GiveWell’s projected funding position, explain how we have been successful in identifying cost-effective opportunities, and share our initial thoughts about what this update means for GiveWell’s forward-looking grantmaking strategy.

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We aim to cost-effectively direct around $1 billion annually by 2025

(updated on: ) | by Ben Bateman

A little over a decade ago in 2010, GiveWell directed around $1.5 million to the charities we recommended. In 2021, we expect we’ll raise at least $500 million, and may raise as much as $560 million or more.

We never anticipated that we’d grow this large this quickly. We’ve seen rapid growth from donors of all sizes, the most recent of which is a commitment of $300 million from Open Philanthropy.

While this growth comes with challenges—we’re working hard to hire enough researchers—it’s a testament to our donors’ trust in us and enthusiasm for our mission.

But these big numbers are relatively small in the long-term scope of what GiveWell hopes to achieve. We believe there are billions of dollars’ worth of annual cost-effective giving opportunities that we have yet to identify.

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Why you’ll see more matching campaigns at GiveWell

(updated on: ) | by Catherine Hollander

Lots of charities run matching campaigns with claims like “Give today and double your impact!” We’re generally skeptical of these claims, which are true only if the matching donor would not have otherwise given to the charity.

We guess that many donors who are motivated to make a large gift to charity (as donors who put up funding for matches typically are) would do so whether or not their support is matched by others. What may often be happening with matching campaigns, then, is that a matching donor would have given to the charity anyway but has agreed to structure their donation as a “match” for marketing purposes. We’ve written about these concerns in the past.

But we don’t think matches are inherently problematic. In fact, if executed such that the matching donor would not have given otherwise, we believe they can be highly motivating for donors.

We’re aiming to increase the amount of funding we direct each year, and we’re planning to start regularly running matching campaigns in 2020 ourselves, in the hopes of reaching new donors and learning which channels are the most successful for marketing. We plan to take extra steps to structure our matching campaigns to offer a “true” match to the extent possible.

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Why you might get a letter from us this giving season

| by Catherine Hollander

We’re about to launch another outreach experiment: mailing letters.

Summary

This giving season, we’re planning to send a subset of approximately 4,500 GiveWell donors a physical letter encouraging them to renew or increase their support of GiveWell’s top charities. We’ve never done broad outreach to encourage donations through physical mail before.

In the letter, we plan to share our list of top charities, our overall recommendation for donors, and remit materials for individuals who feel compelled to give. We hope the letter helps communicate our research to a group of individuals who have found our work useful in the past to guide their giving. We plan to assess the success of this experiment based on incremental donations that result from the letters.

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We’ve added more options for cryptocurrency donors

| by Ben Bateman

We’ve updated our donations processing to better meet the needs of those who want to give via cryptocurrencies. Last year, after we began to accept Bitcoin, we received over $290,000 in Bitcoin donations.

By allowing more types of cryptocurrency donations, we’re enabling donors to realize tax deductions and to contribute more funding to their chosen charity based on gains in the cryptocurrencies they hold.

We’re now accepting donations in the following cryptocurrencies:

  • Bitcoin (BTC)
  • Bitcoin Cash (BCH)
  • Ethereum (ETH)
  • Ethereum Classic (ETC)
  • Litecoin (LTC)
  • 0x (ZRX)

We’ve built different pages for donating based on where you’d like to direct your support. To donate cryptocurrency, click the option you prefer:

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