Financial accounts

Current financial situation

This page is updated roughly once per year, usually around December or January. For our most up-to-date financial data, including periodic updates on our reserves, see regular emails in our updates list.

Projected 2022 budget

Note: these amounts are rounded, so may not add up exactly to the sum shown.

CostsBudget
(values in $'000s)
Staff costs$2,412
Contractors$142
Rent and office$1,415
Non-personnel costs$607
Travel and venues$81
Sum$4,658

2021 spending review

Note: these amounts are rounded, so may not add up exactly to the sum shown.

CostsBudget
(values in $'000s)
Actuals
(values in $'000s)
Staff costs$2,100$1,800
Contractors$141$91
Rent and office$761$769
Non-personnel costs$614$606
Travel and venues$79$21
Sum$3,670$3,310

Historical data

Financial and staff inputs over time

YearSpending ($M)Income ($M)Number of full-time equivalent staff
20120.060.070.6
20130.160.242.8
20140.230.332.6
20150.350.433.7
20160.470.465.0
20170.752.066.8
20181.141.617.9
20192.45.1810.6
20203.225.3213.0
20213.261.1714.0
2022 (projection)4.658-18.0

Notes:

  • Our UK spending and income are converted to US dollars based on the average exchange rates.
  • For more information about where our money comes from, see our donors page.
  • “Number of full-time equivalent staff” includes the staff hours allocated to us by our fiscal sponsor, CEA.

2020 financial year (USA) accounts

Annual audited accounts for our fiscal sponsor, the Centre for Effective Altruism USA.

2019–2020 financial year (UK)

Annual audited accounts, including cost breakdown for 80,000 Hours.

2019 financial year (USA) accounts

Annual audited accounts for our fiscal sponsor, the Centre for Effective Altruism USA.

2018–19 financial year (UK)

Annual audited accounts, including cost breakdown for 80,000 Hours.

2018 financial year (USA) accounts

Annual audited accounts for our fiscal sponsor, the Centre for Effective Altruism USA.

2017–18 financial year (UK)

Annual audited accounts, including cost breakdown for 80,000 Hours.

2017 financial year (USA) accounts

Annual audited accounts for our fiscal sponsor, the Centre for Effective Altruism USA.

2016–17 financial year (UK) accounts

Annual audited accounts, including cost breakdown for 80,000 Hours.

2016 financial year (USA) accounts

Annual audited accounts for our fiscal sponsor, the Centre for Effective Altruism USA.

2015–16 financial year (UK) accounts

Annual audited accounts, including cost breakdown for 80,000 Hours.

Reserves policy

We strongly prioritise having at least 6 months of cash reserves, and aim to maintain at least 12 months. We regard 6 months as probably not providing enough margin for error, and will avoid any expansion while reserves are below 6 months.

We also aim to fundraise only once per year, so we have the rest of the year to focus on our programmes. This means we need to raise 24 months of reserves, then spend it down to 12 months over the course of the year.

We chose to stay above 12 months because it is difficult to change our income or expenses in less than 6–12 months. On the income side, it can take between 3–18 months from starting to fundraise to receiving the income. On the expenses side, we typically make multi-year commitments to staff, rent, and other expenses, so we can’t easily reduce expenses within 12 months.

Overall, 12 months of reserves gives us a reasonable margin for error if a round of fundraising goes worse than expected, and 18 months is better still. The benefits start to diminish after 24 months of reserves.

In addition, it is conventional in the charity sector to have 3–12 months of cash reserves, and it seems to be regarded as good practice to have over 12 month of cash reserves. For instance, Charity Navigator gives its highest scores to charities who have at least one year of reserves.1

Notes and references

  1. Archived link, retrieved 3 Dec 2016. See ‘Performance Metric Six: Working Capital Ratio’.