All of CatherineHollander's Comments + Replies

Thanks for your question! I work at GiveWell. 

The initial calculation we shared in the blog post is a simple one, intended to give a rough sense of the cost-effectiveness of each opportunity given the current limited investigation we’ve done of RTS,S. You're correct that it doesn't account for how RTS,S might interact with LLINs and SMC and the funding needs for those interventions; it's possible that interventions will be layered atop one another, rather than an "either/or" situation.

We expect we would estimate the marginal value if we were deeply in... (read more)

1
freedomandutility
3y
Thanks for the reply, that answers my question perfectly :)

Thanks for raising these questions! I work at GiveWell, and we're planning to update the EA Global Health and Development Fund page to make the distinction between it and the Maximum Impact Fund clearer—we think we can do better to explain the difference.

Here's a quick summary:

  • The Maximum Impact Fund is granted regularly to the highest-value funding opportunities we see among GiveWell's recommended charities. This is a great option for donors who want to support GiveWell's top charities and are open to their funding being used wherever it can do the most g
... (read more)

Hi Brendon and Tharun,

Catherine from GiveWell here. Thanks for your post - it's generated some good discussion! 

First, I want to confirm a few aspects of our banking that have been discussed here:

  • A large proportion of the funding that we hold at any point in time is for making grants to our recommended charities. We typically grant those funds within 2-5 months of receiving them. Therefore, our balance fluctuates throughout the year as funds are received and granted.
  • The vast majority of donations to GiveWell are made in December, which means that both
... (read more)
6
Brendon_Wong
3y
Thanks for your response Catherine! It's great to hear that GiveWell is moving in this direction! Makes sense regarding those three aspects of GiveWell's banking, and completely agree that our estimation methodology is likely in GiveWell's case to overestimate its average cash balance during the year. For the benefit of readers, as mentioned in our article, whether the estimate is accurate, too low, or too high will vary by charity and there is no way to increase the accuracy for an estimation methodology that works across charities due to the limitations of the Form 990 data. Other commenters have mentioned that the federal funds rate is now close to zero. This article was primarily written before COVID-19 and the federal funds rate seemed like an appropriate and conservative benchmark at the time. I did not update the benchmark before the article was published because I received feedback from reviewers that the magnitude of the impact was large regardless of the exact interest rates. This is a sentiment that I agree with. If the exact rate is literally 0% for the next few years (I did not intend for the federal funds rate to be used as a forward-looking estimate) that would indicate the benefit to charities is pretty low. I think a better proxy for the interest rate charities could have earned in the past and can earn now and into the future is Ally Bank's high-yield savings account rate. Ally Bank is a large institution and has over 10 years of historical interest rate data available. Their rate has historically been close to high-yield savings rates offered by most banks, and just a touch lower than the best options. At this exact point in time, Ally Bank's rate is 0.5%. Here is the link to a historical rate chart with data since 2009: https://www.depositaccounts.com/banks/ally-bank.html#a305301. Ideally, GiveWell and other charities earning interest on U.S. dollar deposits should choose banking options that have historically earned and currently earn someth

Hi Peter,

Catherine from GiveWell here. We appreciate the dialogue this piece has generated. We agree that economic growth is an important area to consider evaluating, due to its potential for significant and positive impacts on well-being.

Today, our top charities list comprises charities implementing programs that have been studied via randomized controlled trials (RCTs). By pointing to these trials (and the monitoring conducted by our charities), we can serve our donors by making a public, vettable case for our recommendations and demonstrating their like... (read more)

Hi HStencil,

"I’m also curious about when the GiveWell/CEA teams realized that the old EA Funds webpage’s description of the Fund’s scope might reasonably be read to exclude the One for the World grant." We realized this when prompted by your comments here.

"With that in mind, would GiveWell support One for the World in taking steps to clarify the nature of its relationships with GiveWell on its website?" We have shared this feedback with One for the World and understand they plan to update their site accordingly.

1
HStencil
4y
Hi Catherine, thanks so much for clarifying that and for passing my feedback on to One for the World. I am thrilled to see that they have now added a new page to their website explaining the nature of their relationship with GiveWell in detail. To my eye, the page does a great job of providing donors with all of the information they might want to have and would be a good model for other organizations confronting similar issues.

Hi HStencil,

Thank you for sharing these concerns. We're sorry that this grant came as a surprise, and that you would prefer that it wasn't made via this EA Fund.

Some context on the fund may be helpful in explaining the decision to make this grant. The Centre for Effective Altruism set the original scope of the fund and asked Elie to serve as the manager to recommend grants to the fund. Elie thought that a grant to One for the World may be better in expectation than GiveWell's top charities (the broad mandate for the fund) and staff at the Ce... (read more)

7
HStencil
4y
Thank you for that explanation. I’m glad to hear that the language of the Fund’s previous description would have raised questions at GiveWell about whether the One for the World grant was within the Fund’s scope, had it been on the relevant individuals’ radar at the time. In light of the fact that CEA told Elie the grant was within the Fund’s scope, it’s understandable that the GiveWell team did not pore over the Fund description to double-check CEA’s judgment. While I’m curious about how CEA understood the scope of the fund internally at the time (e.g. is it their view that the scope has changed?), I’m glad that we are all on the same page about it now. I’m also curious about when the GiveWell/CEA teams realized that the old EA Funds webpage’s description of the Fund’s scope might reasonably be read to exclude the One for the World grant. Was that realization the reason why the fund descriptions were updated back in late November/early December? Additionally, I noticed you didn’t comment on the issue of One for the World presenting itself as fully independent of GiveWell when in fact it is highly reliant upon GiveWell for funding. I understand that you, of course, can’t speak for One for the World, but all the same, I think it’s important for this to be addressed. With that in mind, would GiveWell support One for the World in taking steps to clarify the nature of its relationships with GiveWell on its website?

Hi Catherine,

Thank you for your thoughtful responses and for getting the grant write-up online. After a busy holiday season, I just had a chance to go through it, and I appreciate the rationale provided therein.

I also noticed the update you mentioned to the Global Health and Development Fund’s webpage back in early December. While I’m grateful for the improved clarity with regards to the Fund’s current scope, my memory is that the previous webpage included language that specifically indicated the Fund would only be used to support di... (read more)

3
Ben Pace
4y
You included a full-stop at the end of the link, so it goes to a broken page ;)

Thanks, HStencil - I've passed your feedback on timing of information sharing to the team for consideration.

We hope to publish the One for the World grant write-up soon, but are not sure of the precise timing.

I'm glad to share some quick context for why this grant was made through the Global Health and Development Fund. The scope of the fund, as indicated in the "Fund scope" section here (https://app.effectivealtruism.org/funds/global-development), is to support activities whose ultimate purpose is to serve people living in the poorest ... (read more)

9
CatherineHollander
4y
Hi HStencil, we just published the grant write-up. It is available here: https://www.givewell.org/about/impact/one-for-the-world/october-2019-grant

Hi HStencil, Catherine from GiveWell here—you're right that the grant was made from the EA Fund for Global Health and Development. Our page publishing process can take a long time, so we haven't yet published our write-up on the grant on GiveWell.org, but we're planning to in the future. We expect that information to be shared on the EA Fund page once it is published.

Thanks HStencil for flagging this. As Catherine said, the process of publishing reports can take some time, which is why there's been a delay adding these grants to the EA Funds website. However in the interests of transparency I've added placeholder payout reports for both the Fortify Health grant, as well as another recent grant to One for the World which is also waiting on the full report. We'll update these reports as soon as GiveWell has completed their publication process.

Hi Raemon,

I work at GiveWell; thanks for your question. There are a few key differences with the Open Philanthropy Project:

  1. Approach. While this work is still new and we're unsure exactly how we'll approach it, we continue to see our core activity as intensive critical assessment of specific giving opportunities to maximize the return of the funds we direct. By contrast, the core activity of the Open Philanthropy Project is intensive cause selection followed by intensive selection of Program Officers to lead grantmaking in those causes, and heavy
... (read more)

(Continued from previous comment)

(2) Market humbly.

We agree that not everyone has an accurate view of GiveWell's work, and that we should continue to improve our communications around the kinds of opportunities we recommend. Publishing information about our reasoning and goals on our website and blog is one way we aim to do this, as is speaking with the media and donors who use our research, but we agree there is room for improvement. In my experience working on GiveWell's outreach, it has been particularly challenging to effectively communicate around the... (read more)

Hi Ben,

Thanks for the post! I wanted to reply to a couple ideas you raised for GiveWell:

(1) Assess outcomes.

Many of the points you raised, such as making empirical after-the-fact estimates, relate to the question of why GiveWell isn't putting more effort into collecting and examining post-hoc data demonstrating the impacts of our top charities.

We provide an estimate of the impact of a donation to each of our top charities, in humanitarian terms, here: http://www.givewell.org/charities/top-charities/impact. As you note, this is based on the expected impact ... (read more)

7
CatherineHollander
7y
(Continued from previous comment) (2) Market humbly. We agree that not everyone has an accurate view of GiveWell's work, and that we should continue to improve our communications around the kinds of opportunities we recommend. Publishing information about our reasoning and goals on our website and blog is one way we aim to do this, as is speaking with the media and donors who use our research, but we agree there is room for improvement. In my experience working on GiveWell's outreach, it has been particularly challenging to effectively communicate around the following: a) The uncertainty associated with deworming research. b) The limitations of our cost-effectiveness analyses. c) The type of opportunities GiveWell considers as potential top charities, and why. We think we can continue to improve in our written and verbal communications around these topics. A goal on our website and in our own communications is to provide the most accurate picture we can at any given level of detail, within reasonable bounds of staff capacity and time. Someone who only reads a headline on our website should have the most accurate picture it's possible to have after reading only a headline; someone who only reads our page listing top charities should have the most accurate picture associated with that level of detail, and so on. Going forward, we think we can improve by more proactively reaching out when we become aware of a misimpression of GiveWell. We've had internal discussions about this, prompted by this post, and plan to more proactively communicate about mistakes or misunderstandings of our work when we become aware of them, including emailing the media with clarifications. We did not do this in the case of the quote you cite from The Atlantic article, and on reflection think this is something we should do in the future. On the name of "top charities": We'd be interested in whether there is a term that you feel would more succinctly and accurately convey our views on our