Update on GWWC donation platform
We’ve recently received inquiries about funds donated through the donation platform hosted by Giving What We Can (GWWC), in light of the FTX bankruptcy.
Both of the legal entities involved with GWWC (Effective Ventures Foundation and Centre for Effective Altruism USA) are financially solvent. These entities have funding sources outside of the FTX Foundation and other FTX-related entities/individuals. The GWWC related entities would be solvent even without the funds received from the FTX-related entities. Accordingly, our plan is to continue to accept and regrant donations.
I apologise for any delays in addressing concerns about the FTX crisis. Coordinating across multiple entities and time zones is challenging, but we are committed to transparency and keeping our donors as informed as we can. As everyone can appreciate, this is an evolving situation, and we’re taking all necessary advice and making sure that we comply with all our legal duties. Part of this means that we cannot give as many details as we would like, however much we would like to.
Thank you to all for your support and to everyone for all their hard work and dedication in responding to this incredibly difficult time.
I am especially appreciative to all the donors who’ve stepped and will help us continue to broaden the base of donors given the funding shortfall experienced by many high-impact charities, nonprofits, and charitable funds.
If anyone has any questions please don’t hesitate to ask[1] – that’s what I’m here for.
All my best,
Luke
- The EA Infrastructure Fund seems to have paused its grantmaking and approved grant payments. Why? by (6 Dec 2022 11:38 UTC; 116 points)
- CEA “serious incident report”? by (3 Dec 2022 12:27 UTC; 97 points)
- CEA “serious incident report”? by (3 Dec 2022 12:27 UTC; 97 points)
- 's comment on Regulatory inquiry into Effective Ventures Foundation UK by (30 Jan 2023 15:24 UTC; 21 points)
Does this mean that even if all of the funds that FTX-related entities granted to EVF-related entities were clawed back, donations to EA Funds (or otherwise through GWWC) would be unaffected (i.e., would still end up in their intended recipients’ hands)?