Announcing the Patient Philanthropy Fund

Thanks Kyle!

The growth targets will of course always be somewhat arbitrary, but they are based on a number of considerations:

• $1m was based on what we thought was achievable (based on "market research"/early conversations) + is large enough for people to feel good about making $100k+ contributions post-launch, which is the ballpark we're aiming for among FP members + is a nice round target of course
• $10m came from discussions in the FP investment committee on what is roughly a size at which you can start making private equity investments from a transaction costs, risk management and access perspective
• $100m is based on all investment options being open at that point + a size at which a Fund could reasonably fund itself + a size at which the Fund is too much of a responsibility for the FP board to want to carry + a size at which it's too large a part of FP's overall product for it to make sense to stay within FP. The trigger for spin-out is either $100m or 10 years with minimum $10m at that point, because we wanted to be really clear about committing to spinning out the Fund at some point.

On the Fund's balance: we'll be sharing regular and milestone updates with the Fund's funders, on our blog and on the Fund webpage. I like the idea of having a (near-)live counter on the Fund's page at some point, and will raise this with our tech team to see if we can implement it.

Thanks for raising this Peter; I agree it would be great to have tax-deductible donation options from other countries as well, and we'd love for local EA groups to pick this up. It's unfortunately not something we as Founders Pledge can prioritize, as we'd expect the total size of these donations to be relatively small compared to those of our members (who can use the Founders Pledge Donor-Advised Funds) and of non-members living in the three geographies you mention.

Thank you Brian!