Good observation—most of the drop in the number of new donors was seen in 2022, but little of the drop in the amount of donations from new donorshappened then [$43.4MM (2021) vs $41.1MM (2022) vs. $20.5MM (2023]. Because of their size, the bulk of the 2021 --> 2022 drop was almost certainly people giving under $1,000, which is somewhat less concerning to me due to the small percentage of GiveWell’s revenue that donations under $1K provide (less than 3%). There are a good number in the $1-$10K range, but they did not show a significant decline overall between 2021 and 2022.
Presumably, the 2022 --> 2023 drop in revenue involved loss of new higher-dollar donors. My assumption is that higher-dollar donors act somewhat differently than others (e.g., I expect they engage in more due diligence / research than those donating > $1,000 on average). So it’s plausible to me that the 2021 → 2022 numerical decline and the 2022 --> 2023 volume decline have (or do not have) very similar causes. I’d guess FTX might hit higher-dollar new donors more because of the extra due diligence.
The following chart is for all donors, not new ones:
Good observation—most of the drop in the number of new donors was seen in 2022, but little of the drop in the amount of donations from new donors happened then [$43.4MM (2021) vs $41.1MM (2022) vs. $20.5MM (2023]. Because of their size, the bulk of the 2021 --> 2022 drop was almost certainly people giving under $1,000, which is somewhat less concerning to me due to the small percentage of GiveWell’s revenue that donations under $1K provide (less than 3%). There are a good number in the $1-$10K range, but they did not show a significant decline overall between 2021 and 2022.
Presumably, the 2022 --> 2023 drop in revenue involved loss of new higher-dollar donors. My assumption is that higher-dollar donors act somewhat differently than others (e.g., I expect they engage in more due diligence / research than those donating > $1,000 on average). So it’s plausible to me that the 2021 → 2022 numerical decline and the 2022 --> 2023 volume decline have (or do not have) very similar causes. I’d guess FTX might hit higher-dollar new donors more because of the extra due diligence.
The following chart is for all donors, not new ones: