Hi Markus,
For context I run EA Funds, which includes the EAIF (though the EAIF is chaired by Max Daniel not me). We are still paying out grants to our grantees — though we have been slower than usual (particularly for large grants). We are also still evaluating applications and giving decisions to applicants (though this is also slower than usual).
We have communicated this to the majority of our grantees, but if you or anyone else reading this urgently needs a funding decision (in the next two weeks), please email caleb [at] effectivealtruismfunds [dot] org with URGENT in the subject line, and I will see what I can do. Please also include:
- Please also include the name of the application (from previous funds email subject lines),
- the reason the request is urgent,
- latest decision and payout dates that would work for you - such that if we can’t make these dates there is little reason to make the grant.
You can also apply to one of Open Phil’s programs; in particular, Open Philanthropy’s program for grantees affected by the collapse of the FTX Future Fund may be particularly of note to people applying to EA Funds due to the FTX crash.
As author of one of the linked comments, who now is back from visiting the in-laws and has his laptop (but still no inside information), I feel I should explain the comment a bit more. I should reiterate that it's difficult to opine from the outside whether EV/CEA should be releasing more information. Keeping information close to the vest right now could be the best approach for the community. However, that leaves those of us on the outside in the position of reading tea leaves and adjusting our decisions based on the information available to us.
Absent clear information from an organization, I think it's appropriate for donors to apply the pessimistic side of any error bars for two reasons. First, the costs of donating to a similar fund or holding off on any donations until the legal picture is clearer seem to be between zero and low (depending on the specific fund or purpose to which the donor was planning to donate). Thus, very little legal risk is acceptable before it is best to donate elsewhere or defer until there is more clarity.
Second, it has been several weeks since the risk of clawbacks became commonly known, and EV/CEA has not to my knowledge come out with a statement to reassure stakeholders and/or donors about financial stability like OP and RP have. Although there can be good reasons not to issue a statement, its absence is still a data point and suggests that the situation is at least complex / not risk-free.
Thus, with my pessimistic assumptions, the following statements seem plausible to me:
Again, both this comment and my last one are limited to describing the worst-case scenario that seems plausible based on currently available information. But absent additional information to update my views, it is more than enough for me to decide against routing any of my donations through EV/CEA this year.
In my view, if EV/CEA cannot provide a solid financial reassurance in the next few days, then another organization in each cause area needs to start accepting and maintaining custody of monies that are intended for EA Funds, and take "recommendations" from the EA Funds team on where that new money should go. (This would be generally akin to how Open Phil makes recommendations to organizations that actually hold the funds.) Perhaps this would be limited to mid-size or above donations at first to minimize the strain on the new accepting/custodial organizations.
If the state of legal uncertainty remains for an extended period, it may be better for EV/CEA's need for operating funds to be met by large donors, who are in a better position to restrict and execute future donations in a way that best protects them from the potential reach of creditors.
Please see our update regarding this. The important section is: