I think the biggest improvement would be correcting the fact that this model (accidentally, I think) assumes that improving any arbitrary high budget charity by 5% is equally as impactful as improving a Givewell equivalent charity by 5%. Most charity's impact is an order of magnitude smaller.
You could solve this with a multiplier for the charity's impact at baseline.
If I understand correctly, you figure that if you become a trustee of a £419668/year budget charity, if only you can improve the cost effectiveness by 5%, then you can divide that by 42 hours a year, to get £419668*5%/42 hours=£500/hour in the value of your donated time. (A style tip - it would be helpful to put the key equation describing roughly what you've done in the description, to make it all legible without having to go into the spreadsheet.)
I think it is fair to say that, were you to successfully perform this feat, you have indeed done something roughly as impactful as providing a £500/hour value to the charity you are trustee-ing for. So, if you improved a Givewell-top-charity-equivalent's cost effectiveness by 5% for a year, then maybe you could fairly take 5% of that charity's yearly budget and divide it by your hours for that year, as you've done, to calculate your Givewell-top-charity-equivalent impact in terms of how it would compare to donated dollars.
But if you improve a £419668/yr budget charity which is only 1% as cost-effective as a Givewell-top-charity-equivalent by 5%, then that makes your hourly impact 1%*£419668*5%/42 hours = £5/hour of Givewell-top-charity-equivalent impact - you'd be better served working a bit extra and donating 5 dollars to Givewell.
I don't think this model has credence even after these adjustments as I'm skeptical of the structure, but you did make those assumptions explicitly which is good. If you think the effect takes ~42 hours/year then this hypothesis is potentially cheap to just test in practice, and then revise your model with more information. Have you joined any boards and tried this in practice, if yes how did it go?
edit - ah, you're using the term "5% increase" very differently.
Instead it assumes a 5% increase, perhaps from £0 of impact to 5% of the annual income or perhaps from 100% of annual income to 105%
So just to be clear, this implies that making 100% of your annual income in impact would mean that you are the most cost effective charity in the world (or whatever other benchmark you want to set at "100%"). Used in this sense, the word "5% increase" doesn't mean "the shelter saves 5% more kittens" but that charity as a whole has gone from being part of the long tail of negligible impact to being 1/20th as cost effective as the most cost effective charity in the world. This isn't the way percents are usually expressed / this seems like a confused way to express this concept since the 100% benchmark is arbitrary/unknown - it would be better in that case to express it on an absolute scale rather than a percentage.
Thank you for raising the profile of trusteeship as a volunteering opportunity. I agree that it's widely overlooked, and I think I have gained a lot from my past trusteeships.
Trustee boards are typically also short of resource, so increasing the pool of applicants is likely to be a good outcome. I'm glad you're doing this.
Other resources:
Some points on which skills people can use to add value:
Finally, I would question the value of the £500 estimate:
These are great points. I think I'll edit the piece later.
Do you have any suggestions here? Perhaps people shouldn't be trustees of charities they don't think help? Or perhaps they could improve them?
Could you give an estimate here? I really don't know enough.
Do you think you've gained things I haven't accounted for. Is it something you would recommend? If so, what gives you that confidence?
Thanks for your time and input.
Thinking again, I'm not sure I agree. The model assumes a 5% increase in effect. For a charity doing no impactful work that might mean making it slightly impactful, which doesn't seem unreasonable - getting them to make impact assessments could do far more good than this. What do you think?
It probably depends on what you value. Based on your guess, for 42 hours of my time I could potentially cause:
-5% more cats adopted from a particular shelter
-5% increase in awareness of autism at partner workplaces
-5% more opera performances
-5% more women attending a particular 'women's empowerment' conference
-5% more religious conversions
-5% increase in citations from research commissioned by a particular charity
-5% increase in protest attendance
Most of these things I imagine moving from 'good but not cost effective' to 'good and still not all that cost effective' or 'basically useless' to 'still useless'. I don't really imagine many of these charities changing categories from 'useless' to 'good' because of a 5% increase in productivity.
I agree. If none of the charities represented are ones which do things you think are valuable or can conceive of becoming valuable I suggest people turn down the offer.
However, perhaps you could get some budget moved from dog and cat shelters into factory farming or change the types of protests that your members attend. Some types of change would be efficiency though others could be new avenues or publishing impact. I think you are right to say you could get some sense of likelyhood of positive impact on being offered the trusteeship.
Can you think of a way to include this kind of variability simply? Otherwise I guess there is no way to know whether this is a good idea or not and I'm not sure what to do with that.
I think it would be easier to model the impact of being a trustee for a particular charity than a random charity - why don't you try to adapt your model to include your guess about how impactful the specific charity's aims are, along with the specific charity's annual budget, how many trustees are on the board, etc?
I don't have enough money to do that kind of work for every charity and to do it for a specific one I'd have to know how representative it is.
You could just use it as a tool for your own decision making. Isn't the point of this to help you, and others, decide if you would become trustees? That will necessarily depend on the position.
Sure though effectively that reads to me as "you shouldn't have published this". Is that what you mean?
If you mean "you should use a much more fine grained model if you ever get near a trustee board to decide if you should take it"- yes, I agree"
What I meant was, it's good to tell people about the benefits of trusteeship. It's also good to think about how that compares to other work. I think the quick calculation you did at the beginning shows that really well.
But trying to quantify the hourly benefit of trusteeship in general is like trying to quantify the hourly benefit of having a job in general. Some jobs are worth £3 per hour and some are worth £300. Rather than trying to calculate the average value, it's better to find ways to pick the best jobs, or the best donation opportunities, or the best trusteeships.
So I really liked the idea of the article, and found a lot of it useful, but I would have suggested spending more time on figuring out which opportunities are the best rather than building a model estimating an average value.
You should definitely keep posting your thoughts! Take this not as 'advice on what to post', but rather as 'advice on what to spend time thinking about (if you want to help me understand the pros and cons of bring a trustee)'.