(N.B figures are rounded)
Current financial situation
As of April 2014, 80,000 Hours had £148,000 in reserves. This would represent 16 months of reserves at current rates of spending or 12.5 months of reserves if we follow our target budget, which would have us spend £130,000 over 2014. This £130,000 would be primarily spent on staff salaries (£68,000), intern support expenses and accommodation (£24,000) and office rent (£10,000).
In 2013, 80,000 Hours spent £124,000, or around £10,000 per month. From January through March 2014 80,000 Hours spent £28,000, or around £9,000 per month, slightly under the £31,000 budgeted. Since its founding in 2012 until April 2014 80,000 Hours has spent £176,000.
In 2013 80,000 Hours received £175,000 in donations, of which £150,000 were specifically restricted to 80,000 Hours by donors and the remainder was given without restriction to our parent organisation, the Centre for Effective Altruism. From January through March 2014 80,000 Hours has received a further £92,000, of which £73,000 was restricted to 80,000 Hours by donors. Since its founding in 2012 until April 2014 80,000 Hours has received a total of £301,000.
We are currently looking to raise an additional £40,000. This would cover our remaining shortfall for 2014, and give us the option to hire an additional staff member to focus on research and coaching. Making this goal would mean we could end fundraising for the rest of 2014, and fully focus on developing our programs.