Registered number: 07962181
Charlty number: 1149828
CENTRE FOR EFFECTIVE ALTRUISM
{A company limited by guarantee)
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2021
Do¢ ID." 755d978b3¢982586e1¢495578fj¢4eb435aa4b854
CENTRE FOR EFFECTIVE ALTRUISM
IA company limited by guarantee)
CONTENTS
Page
Reference and administrative details of the company, its Trustees an(1 advisers
Tru5tees' report
Strateglc Report
Independent auditorfs report on the financial statements
Statement of financial activities
10-13
14
Balancè sh8•t
Statement of cash flows
16
Notes to the financial statements
17-44
Th8 following pages do not fom part of the statutory finanal statem8nts".
Do¢ ID." 755d978b3¢982586e1¢495576fj¢4eb435aa4b854
CENTRE FOR EFFECTIVE ALTRUISM
IA company limited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 30 JUNE 2021
Trustees
Mr W D M8cAskill
DrTDGOrd
Ms C Zabel
Dr O Cotton-B8rrat
Dr N M Beckstead lappoinled 1 July 20211
Ms T McC8uley lappointed 1 July 20211
Company r8915ter•d number
07962181
Charity registered number
1149828
Registered office
Trajan House, Mill Street, Oxford, OX2 ODJ
Company secretary
Mr Joshua Axford
Independent audltor
Crowe U.K. LLP, Blaok County House, Rounds Green Road, Oldbury, West Midlands, B69 2DG
Bankers
The Co-operative Bank PLC, PO Box 250. Skelmersdale. WN8 6WT
Immigration Solicitors
Turpin & Miller LLP, 1 Agnes Court, Oxford Road, Oxford, Oxfordshire, England, OX4 2EW
Lawyer5
Bates Wells, 10 Queen Street Place, London, EC4R 1 BE
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Do¢ ID." 755d978b3¢982586e1¢495576fj¢4eb435aa4b854
CENTRE FOR EFFECTIVE ALTRUISM
IA company limited by guarantee)
TRUSTEES. REPORT
FOR THE YEAR ENDED 30 JUNE 2021
The Trustees have pleasure in presenting their annual report and the financial statements, including the
adrninistrative detail on page 1. lor the year ended 30 June 2021.
Structur&, Gov•rnanc• & Manag•m•nt
Centre for Effective Altruism ICEAI is a registered Charity (Charity number.. 11498281 and a company limited by
guarantee Icompany number.. 079621811, and it is governed by its Memorandum and Articles of Association, as
dated 9 October 2012.
The Trustees for the year are listed within the reference and administrative details on page 1.
The wistered (>ffice (addSS on page 11 1$ also the piin¢ipal office of CEA. The Trustees are also Diredors for
the purposes of the Companies Act 2006 and corllpany law.
New Trustees are appointed from time to time as required and are selected by the vote of the existing Trustees.
The board seeks candidates that have 8xpertis8 and experienc8 r8levant to th8 rnis5ion of the charity. New
Trustees are given relevant intemal documents and directed towards resources such as the gov.uk guide, 'The
essential Trustee.. whatyou need to knc>w. whatyou need to do,.
Current Trustees are kept infonned of sector developrnenls either through attendanoe at training courses. or
thrciugh briefings with ihe Senior Management Team ISMTI.
Centro for Effeotive Altr(Jistn is governed by 8 Trustee board, however d8*tO-d8y operations have been
delegated to the senior management team and the director of each project.
Sènior Manay•m•nt Tèam ISMT)
William MacAskill, Dir8ctor of For8thought Ifrotll Octob8r 20171.
Max Dalton, Ex8cutive Director (since Octob8r 20191, previously Interim Executive Director
Ben Todd, Executive Dirertor of project 80,000 Hours
Jad8 Leung. Dir8Ctor of proj8ct Long-T8rrn Incubator (since April 20191
Laura Pomarius, Assistant Dir8ctor of project For8thought
The Trustees seek input and research on strategic decision making from the SMT to infom their decisions. In
the event th8t a Trustee opposes a resolution, tt is usually deferred for further discussion.
The SMT (outlined abovel are the key management personnel. Remuneration for key management personnel is
set in aecordanc8 Imth CEA'S salary policy which is r8vi8w8d by th8 Trust88s. All salari85 ar8 S8t in accordanc
with industry norrms. taking into account staff experience.
Afflllatlons
Centre for Effective Altruisrn is affiliated with a number of organisations which share a similar mission including
the 'Future ol Humanity Institute, and Global Priorities Institute IGPII in the UK, with whom it shares office space
and collaborates extensively.
Centre for Effective Alruism is also closely affiliated with a 501lcll31 organisation regislered in the US, Centre
lor Effective Altruism USA Inc. I'CEA USA.). CEA USA is a SLJbsidiary of Centre for Effective Altruism and, whilst
OP8rat8d in conjunction with it, 15 not consolidated within these financial 5tat8ments on th8 grounds of control.
This arrangernent will be reviewed and updated in the 2021122 FY.
Centre for Eff8etive Atruism provid8s advic8 and shares knowledgé wth thesé organisations and at timas has
provided financial support in the form of grants in collaboration with its donors and Trustees.
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Do¢ ID." 755d978b3¢982586e1¢495576fj¢4eb435aa4b854
CENTRE FOR EFFECTIVE ALTRUISM
IA company limited by guarantee)
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 30 JUNE 2021
Obje¢tive5 and Adivities
Centre for Effective Altruism continues to pursue the objects for which it was set up, as set out in the
Memorandum and Article5 of Association, namely such charitable purposes according to the law in England and
Wales as the Trustees determine. including in particular (but without prejudice to the generality of the foregoingl..
the promotion and improvement of the efficiency and effectiveness of charrties and the application of
charitable resources by inforrning, advising and educating those who work for or with charities and voluntary
organisations, or who are otherwise concerned with charities and voluntary organisations with a view to
improving fundraising and planned giving to charities and for Charitable purposes.,
the advancement of education by providing sources of information about the ethics of career choices.,
the prevention or relief of poverty and the improvement of the conditions of life in socially and economically
disadvantaged communities through undertaking and SUprting research into factors that contribute to
poverty and the most appropriate ways to mitigate these.
Grant-making
In all grant-making, Centre lor Effective Altruism senior management are mindful of the need to further our
charitabl8 objects and act for the public benefit. Grants are therefor8 made only when th8re is a cl8ai t18-in to
Centre for Effective Altruism's charitable objects and CO focus 8re8s. Further inforrnation can be aessed on
our website..
http5'.118pp.effeotive8ltru15tn.orglabout-us
Main obj•etiv•s for thè yèar
CEA
Centr8 for Eff8Ctive Altruism I"CEA"I supports the 8ff8Ctive altruism ¢omtMunty. It nurtures spaces where people
can explore how to apply the ideas of effective altruism to their future careers. research. or donations. These
spaces indude events such as the EA Global conference, local community groups, and online spaS such as
the EA Foium.
CEA'S objectives for the FY 2020121 included improving inlemal systems and monitoring, and narrowing its
organisational locus to focus on its comparative advantage.
80.000 Hours
80,000 Houis aims to solvè thè most prèssing skill botU8n8eks in the worfd's most pr8ssing prob18ms. It dogs
this by providing research and support to help people swltch into careers that effectively tackle these problems.
FY 2020121 objectives included developing the job board, advising team, and podcast.
Forethought
The Forethought Foundation for Global Priorities Research I"Forethought°l aims to promote academic work that
addresges the question tsf how to use our scarce resources to improve the world as mueh as possible.
Forethought supports research into the potential importance of our actions in the long run, and potential
implications this might have lor our decisions today.
FY 2020121 objectiv85 included supporting 8cad8tnic r858arch into tOPlC5 of long-t8rm importanc8 lincluding a
forthcoming book by William MacAskilll, and providing grants, networking opportunities, and mentorship for the
Global Priorities Research Fellows and other researchers.
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Do¢ ID." 755d978b3¢982586e1¢495576fj¢4eb435aa4b854
CENTRE FOR EFFECTIVE ALTRUISM
IA company limited by guarantee)
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 30 JUNE 2021
EA Funds
Effective Altruism Funds I'EA Funds") aims to be the easiest, most effective way to donate.
FY 2020121 objectives included irnproving the management of the funds team, improving the grantee application
experience and increasing the amount of money moved via the plarform.
GWW¢
Giving What We Can I'GWWC") inspires donations to the world's most effective organisations.
FY 2020121 objectives included supporting the communty with high level research and increasing the number of
people taking the giving pledge.
Public benefit
In carrwng out its activities in the year under review, the Trustees confirm that they have complied with their duty
in Section 17 of the Charit18s Act 2011 to hav8 regard to th8 public b8nelit guidance issued by the Charity
Commission for England and Wales. The Trustees are satlsfied that the activities undertaken have all been for
the public benefit. Specifically, they have strived to ensure that the two conditions of achieving public benefit are
met." al that there are identifiable benefits of our work and, bl that the benefits are to the public or a section of the
public. Please refer to our objectives, listed above which explain the nature of our work in relation to meeting the
public benefit requirement.
Approved by order of the members of the board of Trustees on
by..
and signed on their behalf
2910312022
Mr W D MacAskill
Trustee
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Do¢ ID." 755d978b3¢982586e1¢495576fj¢4eb435aa4b854
CENTRE FOR EFFECTIVE ALTRUISM
IA company limited by guarantee)
STRATEGIC REPORT
AS AT 30 JUNE 2021
Aehi&vam•nts and P•rfom)ancè
CEA
In 2020121, CEA achi8v8d th8 following outcom85 on its existing projects..
The EA Global l°EAG'I London conference hosted 900 participants with overwhelmingly positive feedback.
CEA doubled the number of connections facilitated per partiapant compared to the last in-person event in
London. The average likelihood to recommend the event was 9.1.
EA Forum use increased rapidly, with 100Yo growih Yoy in terms of hours of engagement.
EA Virtual program launched with over 1,000 participants in the first 6 mo>nths.
The Campus Specialist programme was launched to provide a high level of support to group organisers at
universities.
More than 35 grants were given lo individuals working on EA University Outa¢h.
80,000 Hours
In 2020121. 80,000 Hours ran a major update to its user survey, depriorilised its headhunting, and continued to
deliver on its podcast, website, job board and advising- speaking with hundreds ol people.
Forethought
Significant progress was made on the manuscript for the upcoming book on longtemisim due to be published in
2022.
EAFunds
New fund management structure was introdud.
Website was redeveloped lo improve UX.
The EA InfrastruciLJre Fund and Long-Tem Future Fund doubled the amount of money moved Yoy.
GVIWC
Best 12 months on record lor The Pledge11,2761, trial pledges11,0271 and website visitors1656kl.
Released a series of cause area research summaries and effective giving guide.
Plans for future periods
CEA
Expand community building work with increased support for group organisers.
Facilitate crrtical new connections within the community by expanding the size and frequency of cOnferenS.
Improve online presence on effectivealtruism.org.
Improve the quality of EA Virtual Programs.
80,000 Hours
In 2021122, 80,000 Hours will aim to further develop its job board, advising team, podcast, and websile. We will
review progress towards these by tracking the number of people we advise, our podcast subscribers and the
nurnber of job5 we post. We will track the irnpact we're having on the careers of our users. primarily through
surveys, as we continue to work towards helping them tackle the world's most pressing problems.
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Do¢ ID." 755d978b3¢982586e1¢495576fj¢4eb435aa4b854
CENTRE FOR EFFECTIVE ALTRUISM
IA company limited by guarantee)
STRATEGIC REPORT ICONTINUEO)
AS AT 30 JUNE 2021
Forathought
Forethought aims to continue to develop and then promote an upcoming book on longterrnisim. Forethought also
plans to run another round of Global Priorities Fellows, and to run further grantmaking.
&4 Funds
In 2021122 EA Funds will locus on development associated with grant making and will likely transfer ownership
of the donation plafform lo Giving What We Can. We also expgct there will be a Change of leadership in the
coming financial year.
GWWC
Aims to focus on growing the community of effective givers in 2021122. There will be increased focus on
develop.
Measuring success
Each division has th8ir own m8trics to m8asur8 progr8ss and succes5. The58 are all monitor8d on a biannual
basis.
Fundralslng
Due in large part to the generosity of our existing donor base, during 2020121, the charity had no fundraising
activities requiring disclosure under S162A of the Charities ACL
Financial review
Total income for the year was £18,637,586 12020.. £15,521,709) of which £18,563,790 12020.. £15,178,393)
r8lat8d to donations and legacies. Total 8xp8nditure for th8 y88r was £14,119.14712020.. £8,585,677) of which
£8,429,17012020'. £4,651,710) related lo grants.
Our main source ol income over the period was donations frorn individuals. We are especially grateful for all
contributions rnade. We have used donations over the period to support our charitable objectives. largely by
pawng staff to engage in research or outreach activities and to ensure our research is disseminated widely.
Our total funds at the year-end wgre £23,372,079 12020.. £18,853.6401, of which £13.325,115 12020..
£15,806,455) were restricted and £10,046,96412020'. £3,047.1851 unrestricted.
Three funds are in deficit at year4nd.. Future of Humanity 1nsb.tute IFHII, Global Priorities Institute IGPII and
Community Building Grants.
Community Building Grants is a project ol CEA General. This deficit will be filled by funds from CEA General in
FY 21122 85 the CBG programme h8s now been phased out.
FHI and GPI completed a move to a new office, Trajan House during the financial year. The move and
refurt>ishment costs were higher than expected, and both funds ended up in a deficit after all costs were
accounted for. Both FHI and GPI are expected lo secure funds frorn a rnajor donor to fill in their deficits during
FY 21122.
The Trustees oonsider the stste of the CEA'S financi81 affairs to be satisf8ctory, and therefore consider it
appropriate to prepare the financial statements on a going concern basis.
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Do¢ ID." 755d978b3¢982586e1¢495576fj¢4eb435aa4b854
CENTRE FOR EFFECTIVE ALTRUISM
IA company limited by guarantee)
STRATEGIC REPORT ICONTINUEO)
AS AT 30 JUNE 2021
Invèstmènt Policy
Funds for the coming year will be held in cash. An additional month ol future operating costs will be held in
contingency as cash. Remaining reserves will be invested in a long term focused low risk diversified investment
with the aim of preserving value relab"v8 to inflation. If this Cotmbination of low riskllow yield is not achievable in
the Current market we will opt for a fixed rale deposit that has very low exposure to risk. lallhough reserves will
devalue relative lo inflation over iirnel. This policy will be reviewed annually.
Reserves Policy
Centre for Effective Altruism will continue to adopt a ptslicy of holding not less than 6 months of future operating
Costs in reserves at all timès, with the aim of increasing this to 12 months over time. We plan to hold 1 month of
future operating costs in cash, 5 months of future operating cost in low risk investments, and any additional
reserves into a balanced market portfolio to maximise return lor Centre lor Effective Altruism. This policy was
apprtsved by the trustees of in February 2020.
We define 'reserves' as all funds held in excess of committed spending for the calendar year 2021, as set out in
the 2021 Budget. We plan to allocate these reserves into different investments, in order to cover any unexpected
conb"ngencies, and to maximise Centre for Effective Altruism's r8turn5 on funds d8POSlted over th8 long terrn. In
order to do this. we use our Yuture operating costs.. which we define as our current operating costs. increased by
15°A to account for growth and CPI, with the exact percentage to be reviewed year to year.
Centro for Effective Altruism's free reserves Icaloul8ted 85 unrestricted funds less designated funds and fixed
assets) as at 30 June 2021 totalled £8,192.82412020 £2,599.1131.
Risk Manay•m•nt
Centre for Effective Altruism regular reviews and identifies risks and reports these to the trustees. The risks are
discussed and monitored by the trustees, and mitigations are identified by the Head of Operations. The key
current risks as identified In our Risk Register and the control systetns are shown below, along with the progr8SS
made on risks identrfied for the previous reporting period.
Management of 8XlSting risks
Major PR I reputalion loss
Regular briefs & discussions of PR strategies in team meetings I Slack
PR point & Community Liaison Officer developed system for preparing people for interviews
Policies & staff handbook,. crisis comms procedure introduced120191
Major cyber security issue
Regular briefs on information security,. cyber awareness month
Secure systerns in place12FA, LastPass, bank dual authorisationl
80,000 Hours annual data securily audit
Third party data breach
Avoid startup-type companies when using sensitive dats l ensure they are verified
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Do¢ ID." 755d978b3¢982586e1¢495576fj¢4eb435aa4b854
CENTRE FOR EFFECTIVE ALTRUISM
IA company limited by guarantee)
STRATEGIC REPORT ICONTINUEO)
AS AT 30 JUNE 2021
EqLJalily and diversity eomplaint
Staff handbook includes policy on diversity., Slack Channel set up to exchange resources
Julia Wise gave talks on diversity at latest EA Global conf8renc8
Staff made awa of need foi diversity in HR
Progress over the last year on risks previously identified
Loss of Major donors we have had positive engagement with donors, improving systems and our new
donor managemenl syslem reduce the likelihood, and regular financial forecasting and runway monitoring
redu the impact.
Major cyber security issue - We conducted a full data audil and engaged a consultant to conduct testing of
our security systems.
Major PR I reputation loss -The comrnunity health team are owning this risk, however at this point it still
remains a key risk.
3rd party cyber I data breach- No change, this remains a key risk for this period.
Statement on th8 impact of COVID-19 on activities
Centre for Effective Altruism has taken action to identify risks and has adapled its activities in response to
COVID-19. We expect any financial impact to be minimal and that operab.onal activities will conb.nue mostly
unchanged.
Much ol Centre for Effective Altruism's activities are conducted remotely, for example our provision ol the EA
Funds platforrn and our online forum, and several of our programm8s such as For8thought and 80,000 hours
support distributed researchers. We have also established back-up procedures in case staff members became
unwell so that critical services can continue.
For our in-p8rson 8Gtivities such as th8 annual EA Global conferen08 we have adapted to run virtual conf8r8nces
which have been successful. We continue to monitor user feedback to look at ways to improve engagement with
our attendees.
As part of our EA Funds platForrll, our fund managers have reoommended grants lo organisations working on
COVID-19 as part ol our Global Health and Development Fund, and we have added options for donors to donate
to other organisations working on biosecurity.
We have been in regular contact with our major donors, who expect to be able lo continue to support Centre for
Effective Altruism in the future.
statement of Trustees. responsibilities
The Trustees (who are also the directors of the company for the purposes of company lawl are responsible for
preparing the Trustees. report including the Strategic report and the financial statements in 8w)rdance with
applicable law and Uniied Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting
Practice).
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Do¢ ID." 755d978b3¢982586e1¢495576fj¢4eb43Saa4b854
CENTRE FOR EFFECTIVE ALTRUISM
IA company limited by guarantee)
STRATEGIC REPORT ICONTINUEO)
AS AT 30 JUNE 2021
Company law requires the Trustees to prepare financial statements for each financial year. Under company law,
the Trustees must not approve the financial ststements unless they are Satisfied that they give a true and fair
view of the state of affairs of the cornpany and of its incoming resources and application of resources, including
its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to..
select suitable accounting poliaes and then apply them consistently-,
observe the methods and principles of the Charities SORP IFRS 1021.,
make judgements and accoLJnting estimates that are reasonable and prLJdent',
state whether applicable UK Accounting Standards IFRS 1021 have been ftsllowed," subject to any,
material departures disclosed and explained in the financial statements.,
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
company will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain
the companys transactions and disclose with reasonable accuracy at any time ihe financial position of the
Company and enable them to ensure that the financial statements eomply with the Companies Act 2006. They
are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the
prevention and detection of fraud and other irregularities.
Disclosure of inforniation to auditor
Each of the persons who are Trustees at the time when this Trustees, report is approved has confirmed that..
so far as that Trustee is awaie, there is no relevant audit information of which the chariws auditor is
unaware, and
that Trustee has tsken all the steps that ought to have been taken as a Trustee in order to be aware of any
relevant audit information and to establish that the eharitls auditor is aware of that information.
Auditor
The auditor, Crowe U.K. LLP, has indieated his willingness to eontinue in office. The designated Trustees wll
propose a motion reappointing the auditor at a meeting of the Trustees.
Approved by ord8r of th8 m8mb8rs of th8 board of Trust88s on
by..
and sign8d on th8ir behalf
2910312022
Mr W D Ma¢Askill
Trustee
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Do¢ ID." 755d978b3¢982586e1¢495576fj¢4eb435aa4b854
CENTRE FOR EFFECTIVE ALTRUISM
IA company limited by guarantee)
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CENTRE FOR EFFECTIVE ALTRUISM
OpSnlon
We have audited the financial statements of Centre lor Effective Altruism Ithe'eharitable companql for the year
ended 30 Jun8 2021 which comprise th8 St8tem8nl of Financial Activities. th8 Balanc8 sh88t, the Stat8m8nt of
cash flows and the related notes, induding a summary of significant accounting policies. The financial reporting
framework that has been applied in their preparation is applicable law and United Kingdom Accounting
Standards, including Financial R8porting Standard 102 'Th8 Financial Reporting Standard applicable in the UK
and Republic of Ireland, (United Kingdom Generally Accepted Accounting Practi1.
In our opinion the financial statements..
give a true and lair view ol the state of ihe charitable companys affairs as at 30 June 2021 and ol its
incoming resources and application ol resources, including its income and expenditure lor the year then
ended.,
have been prDperfy prepared in accordance with United Kingdom Generally Accepted Accounting
Practi., and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted OLJf 8udit in accord8nc8 With Int8rn8tional Standards on Auditing IUKI IISAS IUKII and applicab18
law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit
of the financial statements section of our report. We are independent of the charitable company in accc)rdance
with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom,
including the Financial Reporting Council's Ethical Stsndard, and we have fulfilled our other ethical
responsibilities in accordance with these requiremenls. We believe that the audit evidence we have obtained is
sufficient and appropriate to provide a basis for our opinion.
Canelusions rèlating to goin9 eoneèm
In auditing the financial statements. we have concluded that the Trustees, use of the going concern basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have perfomed, we have not identified any material uncertainties relating to events or
conditions that, individually or collectively, may casl significant doubt on the charitable companrfs ability to
conb"nu8 as a going concern for a period of at least Iwelve months from when thg finanoial statements are
authorised for issue.
Our responsibilities and the responsibilities ol the Trustees with respect to going conrn are described in Ihe
relevant sections ol this report.
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Do¢ ID." 755d978b3¢982586e1¢495576fj¢4eb435aa4b854
CENTRE FOR EFFECTIVE ALTRUISM
IA company limited by guarantee)
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CENTRE FOR EFFECTIVE ALTRUISM
ICONTINUEDI
Other information
The Other information compris85 the information included in the Annual report other than the financial stat8rnents
and our Auditorfs report thereon. The Trustees are responsible for the other information contained within the
Annual report. Our opinion on the financial statements does not cover the other infomation and, except to the
8Xtent oth8TWiS8 8xplicitly stat8d in our report, W8 do not 8xpr85s any fo of assuranc8 conclusion th8r8on. Our
responsibility is to read the other information and. in doing so. consider whether the other information is
materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or
otherwise appears to be materially misstated. 11 we identify such material inconsistencies or apparent material
misstaternents, we are required to deteIne whether this gives rise to a tnateri81 misst8ternent in the fin8nci81
statements themselves. If. based on the work we have performed, we conclude that there is a material
misstatement ol this other infomation, we are required lo report that fact.
We have nothing to report in this regard.
Opinion on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course ol the audit..
the inforrnation given in the Trustees, Report including the Strategic Report for the financial year for which
the financial statements are prepared is consistent with the financial statements.
the Trustees, Report and the Strategic Report have been prepared in accordance wth applicable legal
requirements.
Matters on whlch we are requlred to report by exceptlon
In the light of our knowledge and understanding of the eharitable Company and its environment obtsined in the
cours8 of th8 audit, we hav8 not identifi8d material misstat8ments in the Trustees. R8POrt including th8 Strategic
Report.
We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires
us to repc>rt to you if, in our opinion..
adequatB a¢¢ounting records have not betrn ktrpt, or retums adequ•t& for our audit have not been
rec8ived Irotn branches not visited by us,. or
the financial statements are not in agr8ement with the accounting records and returns., or
grtain disclosures of Trustees, remuneration specified by law are not rnade,. or
we hav8 not r8ceiv8d all th8 information and 8xplanations we r8quir8 for our audrt.
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Do¢ ID". 755d978b3¢982586e1¢495576fj¢4eb435aa4b854
CENTRE FOR EFFECTIVE ALTRUISM
IA company limited by guarantee)
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CENTRE FOR EFFECTIVE ALTRUISM
ICONTINUEDI
Responsibilitl8s of trustees
AS explained more fully in the Trustees, responsibilities $18tement, the Trustees Iwho are also the directors of the
charitable company for the purposes of company lawl are responsible for the preparation of the financial
statements and lor being satisfied that they give a true and fair view, and for such inlemal control as the
Trust8es d8t8rrnine is nec8ssary to 8nabl8 the pr8parab.on of financial stat8tn8nts that are fre8 from Tnaterial
misstatement. whether due to fraud or error.
In preparing the financial statements. the Trustees are responsible lor assessing the charitable company's ability
to continue as a going concem, disclosing, as applicable, matters related to going concem and using the going
¢oncein basis of accounting unless the Trustees èither intend to liquidate the ¢h8ritable company or to ¢e8se
operations, or have no realistic allemative bul lo do so.
Auditorfs responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free
from material misstatement, whether due to fraud or error, and to issue an Auditorfs report that includes our
opinion. Reasonable assurance is 8 high levgl of assurance, bul is not a guarantee that an audit conducted in
accordan with ISAS IUKI will always detect a material misstatement when it exists. Misstaternents can arise
from fraud or error and are considered material if, individLJally or in the aggregate, they could reasonably b
expected to influence the eeonomie decisions of users taken on the basis of thèse financi81 ststements.
Irregul8rities, including fraud, are instan5 of non-compliance with laws and regulations. We design procedures
in line with our responsibilities, outlined aVe, to detect rnaterial rnisstatements in respect of irregularities,
including fraud. The extent to which our procedures are capable ol detecting irregularities, including fraud is
dètai18d below..
We obtained an understanding ol the legal and regulatory frameworks within which the chariiable company
operates, focusing on thtsse laws and regulations that have a direct effect on the detemiination of material
amounts and disclosur85 in the financial stat8tT18nts. The laws and regul8tions we considered in this context
were the Companies Act 2006, the Charities Act 2011, together with the Charities SORP IFRS 1021. We
assessed the required compliance with these laws and regulations as part of our aLJdit procedures on the related
rinaneial statement items.
In addilion, we considered provisions of other laws and regulations that do not have a direct effect on the
financial statements but compliance with which might be fundamental to the charitable companrfs ability to
OP8rat& or to avoid a mat8ri81 penalty. We 8150 consid8r8d the opportuniti85 and incentiv85 that m8y exist within
the charitable company for fraud. The laws and regulations we considered in this context for the UK operations
were taxation legislaticin and employment legislation.
Auditing standards limit the required audit prc)oedures lo identfy non-compliance with these18ws and regulations
to enquiry ol the Trustees and other management and inspection of regulatory and legal correspondence, if any.
We identrfied the greatest risk of material impact on the financial statements from irwLJlarities, including fraud,
to be within the timing of recognition of income and the override of controls by managerment. Our audit
procedures to respond to these risks included enquiries of management about their own identification and
assessment of the risks of irregularities, sample testing on the posting ol journals, designing audit procedures
over income, reviewing aeeounting estimates for biases, reviewing règulatory correspondence with the Charity
Comrnission, and reading minute5 of meetings of Ih05e charged with governance.
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some
mat8rial rnisstatements In th8 financial statements, 8V8n though we hav8 properfy plann8d and performed our
audit in accordance wth auditing standards. For example, the further removed non-c0rnpl1an with laws and
Page 12
Do¢ ID." 755d978b3¢982586e1¢495576fj¢4eb435aa4b854
CENTRE FOR EFFECTIVE ALTRUISM
IA company limited by guarantee)
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CENTRE FOR EFFECTIVE ALTRUISM
ICONTINUEDI
regulations liriegularitiesl is from the events and tr8nsactions reflected in the financial statements, the less likely
the inherently limited procedures required by auditing standards would identify it. In addition, as wlh any audit,
there remained a higher risk of non-delection ol irregularities, as these may involve collusion, forgery, inleniional
omissions, misrepresentations, or the overiide of internal controls. We are not responsible lor prevents.ng non-
compliance and c8nnot be 8xpecled to dgtgct non-wmpli8nC8 With all laws and regulations.
A further description of our responsibilities for the audit of the fin8NCI81 statements is located on the Financial
Reporting Council's website at.. www.1rc.or
.uklaudilorsres
onsibilities. This descriplion forms part of our
Audito¢s report.
U$¢ of our roport
This report is tnade solely to the ch8ritabl8 company's members. as a body, in accordance with Ghapter 3 of Part
16 01 the Companies Act 2006. Our audit work has been undertaken so that we might state lo the charitable
companls members those matters we are required to state to them in an Auditorfs report and for no other
purpose. To the fullest extent permitted by law, we do not accept or assume iesponsibility to anyone other than
the charitable company and its members. as a body. for our audit work. for Ihis report. or for the opinions we
have formed.
Kerry Brown (Senior Statutory auditor)
for and on behalf of
Crowè U.K. LLP
statutory Auditor
Black Country House
Rounds Green Road
Oldbury
West Midlands
69 2DG
Date.. 3010312022
Page 13
Do¢ ID." 755d978b3¢982586e1¢4955768¢4eb43Saa4b854
## **CENTRE FOR EFFECTIVE ALTRUISM**
## **(A company limited by guarantee)**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 JUNE 2021**
|**Note**
**Income from:**
Donations
4
Investments
5
Other income
6
**Total income**
**Expenditure on:**
Charitable activities
8
**Total expenditure**
**Net income**
Transfers between funds
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2021**
**£**
**6,232,505**
**33,893**
**25,198**
**6,291,596**
**2,390,293**
**2,390,293**
**3,901,303**
**3,098,476**
**6,999,779**
**3,047,185**
**6,999,779**
**10,046,964**|**Restricted**
**funds**
**2021**
**£**
**12,331,285**
**184**
**14,521**
**12,345,990**
**11,728,854**
**11,728,854**
**617,136**
**(3,098,476)**
**(2,481,340)**
**15,806,455**
**(2,481,340)**
**13,325,115**|**Total**
**funds**
**2021**
**£**
**18,563,790**
**34,077**
**39,719**
**18,637,586**
**14,119,147**
**14,119,147**
**4,518,439**
**-**
**4,518,439**
**18,853,640**
**4,518,439**
**23,372,079**|_Total_
_funds_
_2020_
_£_
_15,178,393_
_35,628_
_307,688_
_15,521,709_|
|---|---|---|---|---|
|||||_8,585,677_
_8,585,677_|
|||||_6,936,032_
_-_
_6,936,032_|
|||||_11,917,608_
_6,936,032_
_18,853,640_|
The notes on pages 17 to 44 form part of these financial statements.
Page 14
CENTRE FOR EFFECTIVE ALTRUISM
IA company limited by guarantee)
REGISTERED NUMBER.. 07962181
BALANCE SHEET
AS AT 30 JUNE 2021
2021
2020
Note
Flxed assets
Intangible assets
Tangible assets
13
1,853
1.777,211
3,652
371,143
14
1.779,064
374,795
Current assets
Debtors
15
2.278,031
175,000
20.771,700
4.532,898
175,000
14,619,715
Investments
16
Cash at bank and in hand
23,224,731
19,327,613
Creditors.. amounts falling due within one
year
17
11,631,716)
(848,768)
N•t eurr•nt ass•ts
21.593,015
18,478,845
Total asset$ less Current liabilities
23,372,079
18.853,64Q
Total net assets
23,372,079
18,853,64Q
Charity funds
Restricted funds
13,325,115
10.046,964
15,806,455
3,047,185
Unrestricted funds
Total funds
20
23,372,079
18,853,640
Th8 Truste8s acknow18dge their r8sponsibilib.es foi complyng with the r8quirem8nts of th8 Act wth r88P8Ct to
accounting records and prep8r8tioN of financial staternents.
The financial
statements
were
approved and
authorised for
issue
by the Trustees
and signed on their behalf by..
on
2910312022
Mr W D MacAskill
Trustee
Th8 not85 on pages 17 to 44 form part of these financial statements.
Page 15
Do¢ ID." 755d978b3¢982586e1¢495576fj¢4eb435aa4b854
CENTRE FOR EFFECTIVE ALTRUISM
IA company limited by guarantee)
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 JUNE 2021
2021
2020
Cash flows from operating activities
Net cash used in oper8ting activities
22
8,066,312
5, 168,265
Cash flows from investing activities
Dividends, interests and rents from investments
Proceeds from the sale of tangible fixed assets
Purchase ol intangible assets
Purchase ol tangible fixed assets
34,077
35,628
1,639
(5,451)
(578, 135)
11.948,4041
Net cash used in investing adivities
11,914,327)
1346,3191
Changa In cash and cash •qulval8nts In thè yèar
Cash and cash equivalents at the beginning of the year
6.1S1,985
4,821,946
14.619,715
9,797,769
Cash and cash equlvalents at the end of the year
23
20,771,700 14,619,7t5
The notes on pages 17 to 44 fomi part of these financial statements
Page 16
Do¢ ID." 755d978b3¢982586e1¢495576fj¢4eb435aa4b854
CENTRE FOR EFFECTIVE ALTRUISM
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2021
Company ststus
Centre for Effective Atruism ICEAI is registered as an incorporated charity limited by guarantee with
Companies House, (registered no. 07962181 England and Wales) and Charity Cornmission Iregist8réd
no. 11498281. The address of its registered office is Trajan House, Mill Street, OxFord, OX2 ODJ.
Accountlng pollcles
2.1 Basis of preparation of financial ststements
The financial statements have been prepared in accordance with the Charities SORP IFRS 1021
AGoounting and Reporting by Charitie5.' Ststement of Reoormmended Practice 8pplicable to oharities
preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK
and Republic of Ireland IFRS 1021 (effective 1 January 20191, the Finanaal Reporting Standard
applieable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006.
Centre for Effective Altruism Meets the definition of a public benefit entity under FRS 102. Assets and
liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the
r818Vant accounting policy.
2.2 Golng concem
The Charity has C85h resources and has no requirement for external funding. The Trustees have
reasonable expectation that the Charity has adequate resources to continue in operational existence
for the foreseeable future and that there are no material uncertainties about its ability to continue.
Th8y continue to believe that the going conc8rn basis of accounting 15 appropriate in preparing th8
annual financial staternents.
2.3 C8ntre for EfFeetive Altruism USA
CEA is also closely affiliated wilh a 501 Icl131 organisation registered in the US, Centre for Effective
Altruism USA Inc., which, whilst operating in conjunction with CEA, is not cc)nsolidated within these
rinancial statements on the grounds of control. Transactions with this entity have been captured and
disclosed as a related party. After the year-end, the relationship between CEA UK and CEA USA was
formalised on 1 July 2021 with CEA UK becoming the sole member land therefore having a degree
ol controll of CEA USA. Please refer to note 27 for further details.
2.4 Fund accounting
General funds ar8 unrestricted funds which are availab18 for u58 at th8 discr8tion of the Trustees In
furtherance of the general objectives of the company and which have not been designated for other
purposes.
Designated funds comprise unrestricted funds that have been sel aside by the Trustees for particular
purposes. The aim and use of each designated fund is set out in the notes to the financial
statements.
Restricted funds are funds which are to be used in accordan with specific restrictions imposed by
donors or which have been raised by the company lor particular purposes. The costs ol raising and
administering such funds are eharged against the specific fund. The aim and use of each restricted
fund is set out in th8 no185 to the financial staterT18nts.
Page 17
Do¢ ID." 755d978b3¢982586e1¢495576fj¢4eb435aa4b854
CENTRE FOR EFFECTIVE ALTRUISM
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2021
Accountlng pollcles leontlnuedl
2.5 Incom&
Income is included in the Statement of Financial Activities I'SOFA") as and when entitlement arises,
the amount can be reliably quantified and the economic benefit to the Charity is considered probable.
Donations and gifts represent amounts receivable during the year, twether with any associated tax
refund and do not include the value of any pledges secured for future donations.
Grants are included in the financial 5t8tements on a receivable basis. The balance of income
received for a specific purpose but not expended during the year is shown in the relevant funds on
the Balance Sheet. Where entitlement occurs before income is received, the income is accrued.
Donated services are induded in the SOFA lo the extent that the value to the Charty is quantifiable,
and these are recognised at market value. A corresponding entry in expenditure for these donated
servi$ is also recognised. In line with FRS 102, voluntary help is not included within the financial
stst8tM8nls.
2.6 Expendlturè
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit
to a third party, it is probable that a Iransler of economic benefits will be required in settlement and
the amount of the obligation can be measured reliably. Expenditure is dassilied by activity. The costs
of e8oh adivty are made up of the total of direGt costs 8nd shared costs, inoluding support costs
involved in undertaking each activity. Direct costs attributable lo a single activity are allocated directly
to that activity. Shared costs which contribute to more than one activity and support costs which are
not attributable to a single activity are apportioned belween those activities on a ba51S COnSlStent with
the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation
charges allocated on the portion of the asset's use.
Expenditure on oharitsble activities is incurred on diredly undertaking the activities whi¢h further the
companls objectives. as well as any associated support costs.
All expenditure is accounted for on an aeeruals basis. Support costs and other costs not directly
attributable to particular function818ctivity categories are apportioned over the relevant categorie5 on
the basis of management eslimales of the amount attributable lo that activity in the year on a basis
consistent with use ol the resources. The irrecoverable element ol VAT is included with the Ilem of
exp8nse to which it r8lat8S.
Governance costs indude strategic planning costs for the Charitls future development, external
audit and all costs of complying wth constitutional and statutory requirements, such as costs ol board
and committee meetings and for preparing statutory fin8ncial statements and s8tisty.ng public
accountability and are included within support costs.
2.7 Grant making
The Charity makes regular grants to its recommended charities. Grants are recognised when a
eonstructive obligation arises that results in the payment being unavoidable.
Page 18
Do¢ ID." 755d978b3¢982586e1¢495576fj¢4eb435aa4b854
CENTRE FOR EFFECTIVE ALTRUISM
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2021
Accountlng pollcles leontlnuedl
2.8 Intangibl• assats and amortisation
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible
assets are measured at cost less any accumulated amortisation and any accumulated impairment
105S8S.
AmortisatiC>n is provided on intangible assels at rates calculated to write off the cost of each asset on
straight-line basis over its expected useful life.
Amortisation is provided on the following basis..
Patents
330
2.9 Tanglble fixed assets and depreclatlon
Tangible fixed assets costing £5.000 or more are capilalised.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible
rixed assets are measured at cost less accumulated depreciab.on and any accumulated impairment
losses.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value
over their estimated useful lives, on a reducing balance basis.
Depreciation is provided on the following bases..
Office equiprnenl
Leasehold improvements
25Yo Straight line
slraight line over the life of the lease
2.10 C4Jrrent asset investments
These represent deposit accounts.
2.11 Debtors
Short term debtors are initially measured at transaction price, less any impairments.
Prepayments are valued at the amount prepaid net of any trade discounts due.
2.12 Cr8ditors
Creditors are recognised when the charity has a present obligation resulting from a past event that
will prc>bably result in the transfer of funds to a third party and the amount due to settle the obligation
can be measured reliably. Creditors are recognised at their settlement amount after allowing for any
trade discounts due.
Page 19
Do¢ ID." 755d978b3¢982586e1¢495576fj¢4eb435aa4b854
CENTRE FOR EFFECTIVE ALTRUISM
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2021
Accountlng pollcles leontlnuedl
2.13 Foraign eurr•nciès
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates
ol exchange ruling at the reporting date.
Transactions in foreign cuen¢1es are translated into sterling at the rale ruling on the date of the
transaction.
Exchange gains and losses are recognised in the St8ternent of fin8nci81 activities.
2.14 Flnanclal Instruments
Basic financial instruments are initially recognised at transaction value and subsequently measured al
amortised cost. Financial assets held at amortised cost comprise cash at bank and in hand, together
with accrued income and other debtors. Cash at bank and in hand is defined as all eash held in
instant access bank accounts and us8d as working capital. Fin8n¢ial li8biliti8s held at arnortised cost
comprise all creditors except social security and deferred income.
2.15 Pension5
The pensions costs charged in the financial statements represent the contributions payable to the
personal pension plans of certain employees during the year. AmoLJnts paid in relation to these
schemes are charged to the Statement of FinanGial Activitie5 when they fall due. All pension costs
are allocated to unrestricted funds.
Critical accounting estimates and areas of judgement
Estimates and judgements are continually evaluated and are based on historical experience and other
factors, including 8xpectations of futur8 ev8nts th3t are b81iev8d to be r8asonabl8 under the
circumstances.
Critical aecounting estimates and assumptions..
Useful economic lives of tangible assets
The annual depreciation charges for tangibl8 as58tS 8re s8nSltive to chang85 in th8 8Stirnat8d useful
economic lives and residual values for the assets. The useful economic lives and residual values are re-
assessed annually. They are amended when necessary to reflect current estimates based on economic
ub"lisation and the physical condition ol the assets. See note 14 foi th8 carrying atllount of th8 tsngib18
assets and note 2.9 fr)r the useful lives for each class of asset.
Valuation of donated services
Administrative support is provided by the affiliated charity, Centre for Effective Atruisrn USA Inc. through
the sharing of staff members and the use of shared software. Oonaled staff setvices are valued at an
estimated monthly h multiplied by the staff members, US salary lor time worked on CEA activities.
Additionally. donated legal 5ervi5 are valued as invoiced by the donating law firm.
Page 20
Do¢ ID." 755d978b3¢982586e1¢495576fj¢4eb435aa4b854
CENTRE FOR EFFECTIVE ALTRUISM
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2021
Income from donations
Unrestricted
funds
2021
Restricted
funds
2021
Total
funds
2021
Donations
6,232.505 12.331,285 18,563,790
Unreslricled
funds
2020
Restricled
funds
202Q
Total
funds
2020
Donations
2,964,836 12,213,557 15, 178,393
Invèstmènt Incom•
Unrestricted Restricted
funds
funds
2021
2021
Total
funds
2021
Bank interest le1vable
33,893
184
34,077
UnrestrNrtgd
funds
2020
Tot81
funds
2020
Bank interest receivable
35,628
35,628
Page 21
Do¢ ID." 755d978b3¢982586e1¢495576fj¢4eb43Saa4b854
CENTRE FOR EFFECTIVE ALTRUISM
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2021
other income
Unrestricted
funds
2021
Restricted
funds
2021
Total
funds
2021
other income
25.198
14.521
39,719
Unrestricted
funds
2020
Restricted
funds
2020
Total
funds
2020
Other income
253,777
73,911
307,688
Analysis of grants
Grants to
Grants to
Institutions Individuals
2021
2021
Total
funds
2021
Grant making
7,037,200
1,391,970
8,429,170
Grants to
Institutions
2020
Grants lo
Individuals
2020
Tot81
funds
2020
Grant making
3,501,394
1. 750,316
4.651,71Q
Page 22
Do¢ ID." 755d978b3¢982586e1¢495576fj¢4eb435aa4b854
CENTRE FOR EFFECTIVE ALTRUISM
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2021
Grants were made to the following institutions..
2021
2020
Against Malaria Foundation
Altruisme Efficace France
Animal Charity Evaluators
APPG for Future Generations
Association Effective Altruism
Association Effective Altruism Fran
Association Effective Altruism Geneva
Billion Dollar Question LLC
Cambridge Effective Altruism CIC
Centre for Applied Utilitarianism
Charity Science Foundation ICSFI
Credence Institute
CrUStaan Compassion
Czech Association for Effective Altruism
EA Projects
Equalia
Evidence Action
1.443,950
81,143
43,943
26,696
47,707
80,408
27,990
43,181
135,947
57,705
39,387
15,290
44,125
29,848
26,112
66,012
468,316
110,669
235,343
64,597
110,907
365,23T
65,495
155,192
32,333
806,594
Fair Fish International
Fortify Health
Founders for Good
Generation Pledge
GiveDirectly
Global Action in the Interest of Animals
212,785
161,151
132,212
29,269
35,866
69,267
Good Food Institute
Helen Keller International
35,356
429,701
1.359,210
27,999
820,249
25,662
21,906
4,303
32,291
164,286
180,900
ID Insight Inc
Innovations For Povety
Machine Intelligence Research Institute
Malaria Consortium
570,314
Players Philanthropy Fund
Project Healthy Children
Rethink Charity
Royal Commonwealth Society for the Blind
SCI Foundation
Sinergia Anirllal
26,352
211,453
27,013
Grants rnade to institutions carry forward
6.133,030
3.068,624
Page 23
Do¢ ID." 755d978b3¢982586e1¢495576fj¢4eb435aa4b854
## **CENTRE FOR EFFECTIVE ALTRUISM**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021**
|Grants made to institutions brought forward
Stitching Effective Foundation
The Future of Humanity Foundation
The Good Food Institute
The Humane League
The Rector and Visitors of the University of Virginia
The University of Edinburgh
University of St Andrews
Vyacheslav Matyuhin
Other (smaller grants, under £25k)
**Total**|**6,133,030**
**200,000**
**152,861**
**37,576**
**87,119**
**51,701**
**150,677**
**49,428**
**-**
**174,808**
**7,037,200**|_3,068,624_
_-_
_-_
_-_
_83,419_
_-_
_-_
_-_
_39,284_
_310,067_
_3,501,394_|
|---|---|---|
## **8. Analysis of expenditure on charitable activities**
## **Summary by fund type**
|**Unrestricted**
**funds**
**2021**
**£**
Core activities
2,263,998
80,000 Hours
-
Forethought (excluding grant making)
-
Grant making
126,295
2,390,293
_Unrestricted_
_funds_
_2020_
_£_
Core activities
_1,530,371_
80,000 Hours
_-_
Forethought
_-_
Grant making
_396,637_
_1,927,008_|**Restricted**
**funds**
**2021**
**£**
925,778
2,133,270
366,931
8,302,875
11,728,854
_Restricted_
_funds_
_2020_
_£_
_303,852_
_1,846,085_
_253,659_
_4,255,073_
_6,658,669_|**Total**
**funds**
**2021**
**£**
**3,189,776**
**2,133,270**
**366,931**
**8,429,170**
**14,119,147**|
|---|---|---|
|||_Total_
_funds_
_2020_
_£_
_1,834,223_
_1,846,085_
_253,659_
_4,651,710_
_8,585,677_|
Page 24
CENTRE FOR EFFECTIVE ALTRUISM
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2021
Analy515 of expenditure by acti¥itie5
Grant
funding
2021
Support
costs
2021
Total
funds
2021
Direct costs
2021
Core activities
1,317,689
920,294
160,251
1,872,087
1,212,976
206,680
3,189.776
2,133.270
625,011
8,171,090
80,000 Hou
Forethought
Grant making lexduding Forethroughtl
258,080
8,171,090
Total 2021
2,398,234
8,429,170
3,291,743 14,119,147
Grant
funding
2020
Support
costs
2020
Total
funds
2020
Direct costs
2020
Core activities
1. 762.699
1, 768.570
223.608
671,523
77,514
30,053
1.834,222
1.846,084
253,661
4.651,71C>
80.000 Hours
Forethought
Grant making
4,651,710
Total 2020
3, 754.877
4,651.710
779,090
8.585,677
Page 25
Do¢ ID." 755d978b3¢982586e1¢495576fj¢4eb435aa4b854
CENTRE FOR EFFECTIVE ALTRUISM
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2021
Analysis of dir•et eosts
Core
Activities
80,000
Hours Forethought
2021
2021
Total
funds
2021
2021
Analysis of dir•et costs - currènt yèar
Books, Subscriptions, and ReferenS
Charges on donations
Computer expenses
Contractors
13,0121
44,817
23,938
419,645
9.796
5,158
18,498
132.035
44,101
539.160
71,572
11,128
853
7,910
199
379
5,277
45,025
26,144
486,508
22,602
12,769
20,017
165,322
60,194
1,369,316
171,181
13,026
853
865
1,341
34,535
72
32,328
12,734
7,558
Loss on Disposal of Fixed Assets
Food and Beverages
Marketing
Office expenses
Professional fees
53
1,369
2,654
3,158
104,674
11,507
500
30,633
12,935
725,482
88,102
1,398
Salaries
Staff costs
Travel
Venues and events
Totsl 2021
1,317.689
920,294
160,251
2,398,234
Page 26
Do¢ ID." 755d978b3¢982586e1¢495576fj¢4eb435aa4b854
CENTRE FOR EFFECTIVE ALTRUISM
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2021
Core
Activities
2020
80,000
Hours Forethought
2020
2020
rot81
funds
2020
Analysis of direct costs - prior year
Books, Subscriptions, and R8f8r8nc8S
Charges on donations
Computer expenses
Contractors
46.352
4,847
52
7,500
31,428
48,802
33,362
36, 107
16,494
1.218
13,306
64,499
25,829
14, 158
214,071
49,272
35,662
81,251
49, 166
14,962
29
42,445
186,658
46, 163
397,407
1,517,44Q
10,373
109,476
296,072
25,774
4,781
154,888
1,877
27,755
47Q
547
Depreoiation and amortisation
Loss on Disposal of Fix8d Ass8ts
Donatèd Services
1,753
45, 150
24.032
Food and Beverages
Foreign exchange lossesllgainsl
Bank ¢hargès
Marketing
Office expenses
Professional fees
R8nl
Salaries
Staff costs
Travel
8,640
(4,767)
18.505
29
29.731
11,605
103, 137
8,888
396,606
1,032,312
6,407
27,993
1,826
1,109
6,435
1,800
807
77.086
35,475
346,993
2,764
59.558
138,135
1,148
21,925
4,418
Venues and events
289,828
Total 2020
1, 762,699
1,768,5T2
223,608
3, 154,879
Page 27
Do¢ ID". 755d978b3¢982586e1¢495576fj¢4eb435aa4b854
CENTRE FOR EFFECTIVE ALTRUISM
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2021
Analysis of support costs
Core
activities
80,000
Hours Forethought
2021
2021
Total
funds
2021
2021
Analysis of support costs - eurr•nt y•ar
Books, Subscriptions, and ReferenS
Charges on donations
Computer expenses
Contractors
110,8701
7,301
8,440
4,871
3,341
119,896
337.700
59,737
4,712
13,014
118
106
3,565
151,917
382,690
138,844
11,787
216,730
510
10,209
44,990
78,224
6,977
200,429
21,812
DepciatIOn and amortisation
Loss on Disposal of Fixed Assets
Food and beverages
Foreign exchange losses
Bank charges
G0veMan costs
883
98
3,287
399
110,252
714
130,1721
11051
122,873
138,2721
391,500
373,733
35,283
9,777
11,156
12851
30,389
5,168
9,013
87,535
20,591
8,088
91,236
324
Marketing
Office expenses
Professional fees
Rent
Salaries
Staff costs
Travel
Venues and events
525,958
33.499
359.901
244,137
57.770
12,057
269
679,220
395
760,414
705,405
113,644
29,922
269
Totsl 2021
1,872.087
1,212,976
206,680
3,291,743
Page 28
Do¢ ID." 755d978b3¢982586e1¢495576fj¢4eb435aa4b854
CENTRE FOR EFFECTIVE ALTRUISM
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2021
Core
activities
2020
80,000
Hours Forethought
2020
2020
rot81
funds
2020
Analysis of support costs - prior year
Comput8r 8xp8nses
Contr8¢tois
Depreciation and arnottisation
Loss on Disposal of Fix8d Ass8ts
Donatèd Servioes
Food and b8V8rag8s
Foreign exchange Igainslllosses
Bank charges
Govetnanc8 costs
10.250
10,250
54,806
24,568
4,131
74,306
23, 108
(14,979)
3,651
73, 138
95
52,473
44,672
92,807
23,040
291,T21
5,954
14,350
985
54,806
24,568
4, 137
74,306
23. 108
{14,979J
3,651
52.589
15.295
5,254
Marketing
Office 8xpenses
Operations Support
Professional fees
R8nl
Salaries
Staff costs
Travel
95
52.473
33,250
28,967
11,422
13,377
50,463
23.040
291,727
5,954
14,350
985
Venues and events
Total 2020
671,523
77,512
30,053
779,088
Page 29
Do¢ ID." 755d978b3¢982586e1¢495576fj¢4eb435aa4b854
CENTRE FOR EFFECTIVE ALTRUISM
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2021
10.
Auditor's remuneration
2021
2020
Fees payable to the company's auditor for the audit of the company's
annual accounts
17,500
1T,OOQ
Fees payable to the company's auditor in respect of..
Other services
3,925
10,020
Staff costs
2021
2020
Wages and salaries
Social security costs
Contribution to defined contribution pension schemes
2,074,721
216,999
38,816
1,614,076
173,654
21,437
2.330,536
1,809,161
During the year there were redundancy or temination payments made totalling £2,616 (202Q- £10,000).
No amounts were outstanding at the year end.
The average number of persons employed by the Company during the year was as follows..
2021
No.
2020
No.
Charitable activities
29
27
The number of employees whose employee benefits (excluding employer pension costs) exceeded
£60,000 was..
2021
No.
2020
No.
In the band £60,001- £70,000
In the band £70,001 - £80,000
In the band £80,001- £90,000
In the band £9Q,001- £100,000
In the band £110,001 - £120,000
Aggregate ernployee benefits of key management personnel (inclusive of employers Nl and pension)
were £521,949 (2020- £3t6,874).
Page 30
Do¢ ID." 755d978b3¢982586e1¢495576fj¢4eb435aa4b854
CENTRE FOR EFFECTIVE ALTRUISM
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2021
12. Trustees. remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2020- £NIL).
During the year ended 30 June 2021, expenses tolalling £76 were reimbursed or paid directly lo 1
Truslee (2020- £1,768 to 2 Tmstees) for travel and subsistence.
13. Intangible assets
Domain
names
Cost
At 1 July 2020
5,451
AI 30 June 2021
5,451
Amortlsatlon
At 1 July 2020
Charge lor the year
1,799
1,799
At 30 June 2021
3,598
Net book value
At 30 June 2021
1,853
At 30 June 2020
3,652
Page 31
Do¢ ID." 755d978b3¢982586e1¢495576fj¢4eb435aa4b854
CENTRE FOR EFFECTIVE ALTRUISM
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2021
14. Tangible fixed a55ets
Leasehold
improve-
mènts
Office
èqulpmant
Total
Cost or valuation
At 1 July 2020
Additions
Disposals
149,786
31,993
1143,7501
324.883
1,916.411
196,9331
474,669
1,948,404
1240,6831
At 30 June 2021
38,029
2,144,361
2,182,390
Depreciation
Al 1 July 2020
Charge for the year
On disposals
80,914
4,266
174,8781
22,612
376,624
14.359
103,526
380,890
179,2371
At 30 June 2021
10,302
394.877
405,179
N•t book valu&
AI 30 June 2021
27,727
1,749.484
1,777,211
At 30 June 2020
66,672
302,271
3TI,143
15. Debtors
2021
2020
Due after more than on8 yèar
Other debtors
1.614,918
1,614,978
Duè within on• y•ar
Other debtors
110,368
432,814
119,931
26,961
2,804,347
86,672
Prepayments and accrued income
Tax recoverable
2,278,031
4.532,898
Page 32
Do¢ ID." 755d978b3¢982586e1¢495576fj¢4eb435aa4b854
CENTRE FOR EFFECTIVE ALTRUISM
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2021
16.
Current asset investments
2021
2020
Cash equivalents on deposit
175,000
175,OOQ
17. Creditors.. Amounts falling due within one year
2021
2020
Trade creditors
Other taxation and social security
Other creditors
Accruals and defeThed income
Grant commitments
415,860
62,861
16,582
543,316
593,097
16,983
57,69Q
10,759
342,85Q
420,486
1.631,716
848,768
Reconciliation of grant commitments
2021
2020
Commitments at 1 July
Commitments made in the year
Grants paid during the year
420,486
315,10Q
8,429,170
4.651,71Q
18,256,559) (4,546,324)
Commltments at 30 June
593,097
420,486
Page 33
Do¢ ID." 755d978b3¢982586e1¢495576fj¢4eb435aa4b854
CENTRE FOR EFFECTIVE ALTRUISM
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2021
18.
Financial instruments
2021
2020
Financial assets measured at amortised cost
1,840,609
4,515,024
2021
2020
Financial liabilities measured at amortised cost
11,568,855)
(791,078)
Financial assets measured at amortised cost comprise current asset investments, accrued income and
other debtors.
Financial liabilities measured at amortised cost comprise trade creditors, other creditors, accruals and
grant commitments.
19. Summary of funds
Summary of funds- Current year
Balance at
30 Junè
2021
Balaneè at 1
July 2020
Transf•rs
inlout
Income Expenditure
Designated funds
General funds
Restricted funds
76,929
76,929
2,970,256
6.291,596 12,390,293) 3,098,476
9,970,035
15,806,455 12.345,990 111,728,854) 13,098,476) 13,325,115
18,853,640 18,637,586 114,119,147)
23,372,079
Summary of funds - prior year
Balanc8 8t
30 June
2020
Balance at
1 July 2019
Transfers
in/out
Income Expenditure
Designated funds
General funds
Restricted funds
7S,929
1,332, 154
3,234,24t
(1,927.008)
10,508.525 t2,287,468 (S,658,669)
76,929
330,869
2,970,256
(350,869) 15,806,455
11,917,608 t5,521,709 (8,585,677)
18,853,640
Page 34
Do¢ ID." 755d978b3¢982586e1¢495576fj¢4eb435aa4b854
CENTRE FOR EFFECTIVE ALTRUISM
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2021
20. Ststement offunds
Balance at
30 June
2021
Balance at
1 July 2020
Transfer
Income Expenditure
inlloutl
Designated fvnds
80,000 Hours
76.929
76,929
General funds
General Funds- all funds
2,970.256
6,291.596
12.390.293}
3.098.476
9.970,035
Total Unrestrlcted funds
3,047.185
6,291,596
12,390,293}
3.098A76 10,046,964
R•strletèd funds
Giving What We Can
80,000 Hours
EA Outreach
367,106
6,049.230
409
5,141
371.768
179,4871
12.133.270}
292,760
4.287,728
409
EAF
18.067
320,867
118,0671
1320,8671
EA Funds- Animal Welfare
EA Funds- Glob81
Community
EA Funds- Global
Developrnenl
EA Funds - Grantmaking
EA Funds - Long term future
Alliance to Feed th8 Earth in
Disasters
Future of Humanity Institute
IFHII
Against Malaria Foundation
Animal Charity Evaluators
Charity Saence Foundation
of G8n8da
Give Well
266,754
1266,7541
1,911.437
11.911,4371
3,879,974
1261.0461
11,560,566
17,434,960}
8,005,580
261.046
9.195
19,1951
2,373.900
250,338
3.509
249,4961 12.230,4841
1250,3381
13,5091
1106,0801
9.064
100,688
19,0641
1100,6881
SchistOSOml8sis Control
145,624
12.532
46.808
1145,6241
112,5321
146,8081
Project H8althy Children
Give Directly
Evidence Action IDeworm
the Worfdl
147.584
1147,5841
Page 35
Do¢ ID." 755d978b3¢982586e1¢495576fj¢4eb435aa4b854
CENTRE FOR EFFECTIVE ALTRUISM
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2021
Evidence Action (Dispensers
for safe waterl
Evid8nce Action INo188n
season)
Global Catastrophic Risk
Institute
Helen Keller International
Vitamin A
10,089
110,0891
2.469
12,4691
1.166
11,1661
18.671
8,646
3,019
26,191
131.493
103.575
5,123
716.063
167,188
1,538.923
495.S47
118,6711
18,6461
13,0191
126,1911
1131,4931
1103.5751
15,1231
DMI
Iodine Glob81 Network IIGNI
Sightsavers
Donor Lottery
Malaria Consortium
END
Comtnunity Building Grants
FHI Research Scholars
3.643
1905.5321
134,442}
1625,0111
1182,340}
1185,8261
132,746
769,374
1408,6851
Forethought Foundation
GPI
1.552
146,0901
1721,8921
Regrant- Animal Charity
Evaluators IACEI
Regrant- EA Norway
Regrant- Rethink Charity
Regrant- Sliftung fur
Effektiven Altruismus (REG
Fund)
Regrant- Charity
Entrepreneurship Incubated
Chariti8s ICE)
Regrant- Johns Hopkins
Center for Health Security
Regrant- Machine
Intelligence Research
Institute IMIRII
The Precipice
Long-term Incubator
Other restricted funds
4.637
2,392
3.479
14,6371
12,3921
13,4791
6.442
16,4421
33.136
133,1361
5.594
15,5941
5.959
98,200
119.905
4.390
15,9591
14,428
388.892
154,313}
130,0031
58,315
478,794
14,3901
Total RestrScted funds
15,806,455 12,345,990 111,728,854> 13,098,476) 13,325,115
Totsl offvnds
18,853.640 18,637,586 114,119,1471
23,372,079
Page 36
Do¢ ID." 755d978b3¢982586e1¢495576fj¢4eb435aa4b854
CENTRE FOR EFFECTIVE ALTRUISM
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2021
ststement of fiJnds- prior year
Balance at
30 Jun8
2020
8al3nc8 at 7
July 2019
Transfer
Income
Expendilu
in/(out)
Designated fvnds
80,000 Hours
76,929
76,929
General funds
General Funds- all funds
1,332, 754
3,234,241
(7,927,(A>81
330,869
2,970,256
Total Unrestrlcted funds
1,409,083
3,234,241
(7,927.008)
330.869
3,Q47. 185
R•strletèd funds
Giving What We Can
80,000 Hours
Effective Fundraising
Global Prioriti$8tion
Programme
EA Outreach
377,307
4,218,570
85,511
(4.201)
(t,846,J84J
367. 106
6,049,230
3,676, 744
(85.5111
6,7T8
217,711
59,4Q2
271, 701
(6. 7781
(217,302)
409
EAF
2,491
559,448
[43,8261
(510,282)
18.067
320,867
EA Funds- Animal Welfare
EA Funds- Global
Community
EA Funds- Global
Development
EA Funds - Long term future
Alliance to Feed the Earth in
Disasters
Future ol Humanity Institute
267,439
89,802
(90,487)
266,754
864,369
157. 784
1,865,504
516.214
(818,456)
(412.352)
1,911,437
261.046
6,976
2,243
(241
9, 195
IFHII
2,410,944
214,420
17, 729}
137,J441
(81,8841
(5,666)
2,373,900
250,338
3,509
Against Malaria Foundation
Anitmal charity Evaluators
Charity sa@n Foundaiion
of Canada
117,802
10,304
12,234
7,447
580
13, 750)
(521,983}
P,064
700.688
Give Well
Schistosorni8S15 Control
615,224
107, 7T5
1,758
18,118
108,819
44, 129
144
1280)
(5,861)
(26,4991
(7 75. 105)
745.624
Sentience Institute
2,559
Project Healthy Children
Give Dir8ctly
20,913
113,094
12.532
46.808
Page 37
Do¢ ID." 755d978b3¢982586e1¢495576fj¢4eb435aa4b854
CENTRE FOR EFFECTIVE ALTRUISM
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2021
Evidence Action ID8worm
the Worfdl
Evid8nce Action IDisp8n58rs
for safe waterl
Evidence Action INO lean
s88sonl
Innovation lor Poverty Action
Global Catastrophic Risk
162,992
145,420
(722,Q71}
(58,7571
747,584
5,Q05
[12.6421
77.726
10.089
2,696
121.2581
21.031
2,011
2,469
(2,011)
1,250
1,960
(2,Q44)
1, 166
H818n Keller International
Vitamin A
44,857
9,416
5,027
13,866
(2,040)
3Q, 7T9
107,916
3,982
8,977
124, tQ8
459,260
92, 728
43,258
23, 788
9,118
12,424
(69,4441
123,9581
(7 1, 126)
(991
18.671
8,646
3,019
26, 191
DMI
Iodine Global Nerk IIGNI
Sights8vers
Alameda Research
2,040
Donor Lottery
Malaria Consortium
100,433
44,830
7, 737
1,568,469
94,813
1,615,961
478,043
281
131.493
103,5T5
5. 123
716,063
167, 188
1,538,923
495,547
(49, 171)
(6,596}
(861,383)
(51, 733)
(536,298)
(15,224)
END
Community Building Grants
FHI Research Scholars
Forethought Foundation
GPI
Regrant- Animal Charity
Evaluators IACEI
Regr8nt- EA Norway
Regrant- Rethink Charity
Regrant- Sliftung fur
Effektiven Altruismus (REG
Fund)
Regrant- Charity
Entrepreneurship Incubated
Charib"85 ICE)
Regrant- Johns Hopkins
Center for Health Security
Regrant- Machine
Intelligence Research
Institut8 IMIRII
The Precipice
Long-t8rm Incubator
Other restricted funds
5,568
2,842
3,973
20,224
5,806
22,827
(21, 1551
(6,256)
(23,321)
4,637
2,392
3,479
6,413
30
6,442
54,968
(21,8321
33, 136
5,661
(67)
5,594
7,196
298,399
139.487
4,879
(1,237)
(2QO, 199)
179.5821
(489)
5,959
98.200
7 19.905
4,590
28,488
(28,488)
Total Restricted funds
10,508,525 12,287,468
(6,658,669)
(350,869) t5,806,455
Totsl offvnds
11,917,6C>8 15,521. 709
(8,585.677)
18,853,640
Page 38
Do¢ ID." 755d978b3¢982586e1¢495576fj¢4eb435aa4b854
CENTRE FOR EFFECTIVE ALTRUISM
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2021
The restricted fLJnds are described below..
Giving What We Can A project run internally within CEA. building a community of members who are
encouraged to donate 10°/o of their income to the most effective organisations in the world.
80.000 Hours- A sub-organisation within CEA that researches high-impacl careers and offers 1-on-1
career coaching. They maintain a blog, a podcast, and a curated job board of opportunities with effective
alttuist organisations.
Effective Fundraising- An organisation based on providing grants to help small organisations increase in
size.
Global Prioritisation Project- An internal research project within CEA to inform strategic field orienlalion.
EA Outreach A project based on engaging with potentially high-impact individuals, run by a CEA
employee.
EAF (Effective Altruism Foundationl- A regranting fund to the organisation 'Effective Altruism
Foundation" which Is distinct from the Centre for Effectiv8 AKrLJiStn. The Eff8Ctive Altruism Foundation's
website is 8vailable here.. https.'Ile8-found81ion.orgl
EA Funds- Animal Welfare- One c>f our four EA Funds managed by experts in their respective fields, who
will pool the community s donations and research the rmost irnpaottul ways lo grant the money raised. The
Animal Welfare Fund supports organisations that work on improving the wellbeing of animals, especially
farmed animals.
EA Funds - EA Community- One of our four EA Funds managed by experts in their respective fields, who
will pool the community's donations and research the most impactlul ways to grant the money raised. The
EA Community Fund writes grants lo groups that drive more high-quality talent, information and capital
towards tackling th8 world's biggest probl8rns.
EA Funds- Global Development - One of our four EA Funds managed by experts in their respective
fields, who will pool the cornmunity's donations and research the most irnpactful ways to grant the money
raised. The Global Developrnent Fund supports org8nisations that work on improving and saving the lives
of some of the poorest people in the world.
EA Funds- Gr8ntrn8king - regranting to 811 charitsble organisations listed on the EA Funds websit&.
EA Funds- Long-Term Future- One of our four EA Funds managed by experts in their respective fields,
who will pool the comtnunivs donations and iesearch the most impactful ways to giant the tnoney raised.
The Long-Terrn Future Fund seek5 to reduce global catastrophic risks, especially bul not exclusively
those from advanced artificial intelligence.
Allian¢e To Fe8d The Earth In Disasters- Regranting to ALLFED, a charitsble organisation that
researches practical food solutions in the event of a global catastrophe, in order to save lives and reduce
the risk to civilisation.
Future of Humanity Inslilule IFHII- Supporting the activities of Future of Humanity Institute, a research
institute at the University of Oxford.
Against Malaria Foundation - Regr8nting to Against Malaria Foundation, 8 tharitable organisation th*
aims to prevent malaria by distributing bed nets.
Anitnal Charity Evaluators- Regranting to Animal Charity EvalLJators, a chaiitable organisation that
researches the most effective ways to help animals, providing recornmendations on the top animal
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Do¢ ID." 755d978b3¢982586e1¢495576fj¢4eb435aa4b854
CENTRE FOR EFFECTIVE ALTRUISM
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2021
charities and interventions.
Charity Saence Foundation of Canada- Regranting to Charity Science Foundation, a charitable
organisation that uses Scien and rationality to find, SLJPPOrt, and build the world's most effective
charities.
Givewell
Regranting to the charitable organisation Givewell, restricted to be distributed to their current
top recommendations on the most effective global health and development charities.
Schistosomiasis Control Initiative- Regranting to Schistosomiasis Control Initiative, a charitable
organisation with programs to prevent and treat parasitic wom infections.
Senlienoe Institute- Regranting to Sentience Institute, a charitable organisalion dedicated to expanding
humanity's moral circle to all sentient beings.
Project H88lthy Children - Regranting to Projed Healthy Children, a charitable organisation that supports
food fortification prograrns in developing countries.
Giv8Directly Regranting to GiveDirectly, a charitab18 organisation that mak8S Ljnconditional cash
transfers lo those living in extrerne poverty.
Evidence Action- Regranting to Evidence Action, a charitable organisation, restricted to their Deworm
the Worfd progr8m that works with governments lo support school-based deworming.
Evidence Action (Dispensers for safe waterl- Regranting to Evidence Action, a charitable organisation,
restricted to their Dispensers for Safe Water program that provides a¢$$ to Clean and safe water
cornmunities in Africa.
Evidence Action (No lean seasonl- Regranting to Evidence Action, a charitable organisation, restricted to
their No Lean Season prograrn that h81p8d poor f8mili8s in Bangladesh by 8n8bling labour rnobility.
Innovations lor Poverty Action- Regranting to Innovations for Poverty Action, a charitable organisation
that focus8s on r8s8arch and policy to discov8r and promote effectiv8 solutions to global pov8rty
problems.
Global Catastrophic Risk Institute - Regranting to Global Catastrophic Risk Institute, a charitable
org8nis8tion that researches and analyses risks to the surviv81 of hum8n oivilisation.
Helen Keller International Vitamin A- Regranting to Helen Keller International, a charitable organisation,
restricted to their Vitamin A supplementation program that aims to reduce child mortality.
DMI (Development Media Internationall An organisation we offer donors to donate to through our EA
Funds project, assessed to be highly effective according to the prinaples of Effective Allruism.
Iodine Global Network (IGNI- Regranting to Iodine Global Network. a charitable organisation that aims to
redu iodine deficiency globally by supporting national salt iodisation programs.
Sighlsavers - Regranting lo Sightsavers. 8 charitable organisab'on. restricted lo their deworming program
thal aims to prevent and treat neglected tropical diseases.
Al8rned8 Research- Restriction relating to donations, primarily in orypto-currenw tokens from 8 donor to
EA funds within the organisation Alameda Research.
Donor Lottery- Funding donor lotteries, a project within CEA that pools donors funds and allows one
persr)n to dedicate time and research to funding the most pressing prr)blerns.
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Do¢ ID." 755d978b3¢982586e1¢495576fj¢4eb435aa4b854
CENTRE FOR EFFECTIVE ALTRUISM
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2021
Malaria Consortium- Regranting to Malaria Consortium, 8 charitable organisation, restrided to their
seasonal malaria chemoprevenlion program.
END (Ending Neglected DIs8asesl- R8granting to th8 END Fund, a charitab18 organisation, rèstricted to
their deworming prograrn.
Community Building Grants - Community Building Grants, a project run intemally within CEA, that aims t
8n8ble people to work on projects that will contribute to solving some of the world's most important
problems.
FHI Research Scholars- Supporting the activities of Future of Humanity Institute's Resèarch Scholars
program for early-career researchers aiming lo answer questions related to humanity's wellbeing.
Forethought Foundation - Forethought Foundation, a sub-organisation within CEA that aims to promote
8c8demic work that addresses the question of how to use our scarce resources to improve the worfd by
as much as possible.
GPI - Supporting th8 aCtivit18s of Global Piiorities Insb"tut8, a research Institute at th8 Universty of Oxford.
Regrant- Animal Charity Evaluators IACEI- Regranting to the charitsble organisation Animal Charity
Evaluation, restricted to be distributed to their current top recommendations on the most effective animal
welf8re charities.
Regrant- EA Norway- Supporting the activities of Effective Altruism NonNay, a charitable organisation
that supports the ¢ffe¢tive altiuism ¢ommunity in Norway.
Regrant- Rethink Charity- Regranting to Rethink Charity, a charitable organisation that supports
initiatives that build the effective altrLJism community and facilitate donations to effective charities.
Regrant- Stiftung fur Effektiven Altruismus (REG Fundl- Regranting to Stiftung lur Effektiven Altruismus,
a charitable organisation, restricted to its Raising lor Effective Giving Fund that supports research and
policy efforts to prev8nt the Wotst t8chnological risks facing civilisation.
Regrant- Charity Entrepreneurship Incubated Charities ICEI- Regranting to a managed fund by a
charitable organisation restricted to supporting promising new charities.
Regrant- Johns Hopkins Center for Health Security- Regranting to Johns Hopkins CHS, a charitable
organisation working to protect from the potential harms of epidemics and disasters.
Regrant- M8chine Intelligence Research Institute IMIRII- Regranting lo a charitable organisalion seeking
to improve the safety and reliability ol general-purpose Al systems.
The Precipicg- A progr8mrne within CEA supporting the promotion and marketing of Toby Ord's book,
The Precipice.
Long-temi incubator- The Long-term Incubator, since renamed The Longtermist Entiepreneurship
Project, supports new projects and org8niz8tions which aim to improve the long-term future.
Transfers were made during the financial year to consolidate funds into their appropriate restrictic>ns. Most
significantly, existing balances for our regrant-relgted fvnd5 were transferred to EA Funds - Grantmaking.
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Do¢ ID." 755d978b3¢982586e1¢495576fj¢4eb435aa4b854
CENTRE FOR EFFECTIVE ALTRUISM
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2021
21.
Analysis Of net assets between funds
Analysls of net assets between funds - current year
Unrestricted Restricted
funds
funds
2021
2021
Total
funds
2021
Tangible fixed assets
Intangible fixed assets
Debtors due after more than one year
Current assets
Creditors due within one year
1,777,211
1,853
1,777,211
1,8S3
1,614,918
1,614,918
8,267,900 13,341,913 21,609,813
11,631,716) {1,631,7161
Total
10,046,964 13,325,115 23,372,079
Analysis of net assets beeen funds - prior year
UnreslrNcted
funcls
2020
RestrNcted
fUS
202Q
Total
funds
2020
Tangible fixed assets
Intangible fixed assets
Debtors due after more than one year
Current assets
174,959
371,143
3,652
3,652
1,397.418
217,500
1.614,918
7,779,550 75.933, 145 77,712,695
(248,394)
(600,374)
(848, 768)
256,184
Gredilors due within one year
Total
3,Q47, 185 75.806,455 18,853,64Q
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Do¢ ID". 755d978b3¢982586e1¢495576fj¢4eb43Saa4b854
CENTRE FOR EFFECTIVE ALTRUISM
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2021
22.
Reconciliation of net movement in fund5 to net cash flow from operating activities
2021
2020
N8t incom8 for the y8ar las p81 Stat8ment of Financial Activit18sI
4,518,439
6,936,032
Adjustments for..
Depreciation chargès
Amortisation charges
Dividends, int8rests and rents from investments
Loss on the sale of fixed assets
380,890
1,799
134,0771
161,446
2.254,867
782,948
72,041
1,T99
(35,628)
39, T99
(2, 159,374)
313,596
Decreasellincreasel in debtors
Increase in creditors
Net cash provided by operating activities
8,066,312
5. 168,265
23.
Analy515 of cash and cash equivalents
2021
2020
Cash at bank and in hand
20,771,700 14,619,7t5
Total eash and eash èquivalènts
20.771,700
14,619, T75
24. Analysis of changes in net debt
At 1 July
2020 Cash flows
At 30 June
2021
Cash at bank and in hand
Liquid investments
14.619,715
175,000
6.151,985 20,771,700
175,000
14,794,715
6.151,985 20,946,700
25.
Pènsion eommitm•nts
The Charity contributes to personal pension plans of rtain employees. At the year end there were
outstanding contribLJtions of £16,582 (2020- £7,536).
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Do¢ ID". 755d978b3¢982586e1¢495576fj¢4eb43Saa4b854
CENTRE FOR EFFECTIVE ALTRUISM
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2021
26.
Operating lease commitments
At 30 June 2021 the company had commitments to make fijture minimum lease payments under non-
canc811able op8iab"ng18as8s as follows..
2021
2020
Not later Ihan 1 year
Later than 1 year and not later than 5 years
Later than 5 years
330,927
1,323,707
269,275
783,5t6
1,943,706
1, 128,464
1,923,909
3,855,686
The following lease payments have been recognised as an expense in the Statement of financial
activities".
2021
2020
Operating 18a58 r8ntals
330,927
418,770
27. Related party transactions
During the year, royalties were eamed totalling £4612020.. £661 on Trustee, Will MaeAskill's book, 'Doing
Good B8tter.' How Eff8ctiVg Altruism Can H8lp You Make A DtFf8r8nce" Royalties of £14.428 12020..
£62,536) were also eamed on Trustee, Toby Ord's book 'The Precipice.. Indirect benefits are expected
to be received as readers learn more about Effective Altruism, they will be inspired to donate to CEA, or
the r8commend8d charities. Al transactlons W8r8 conducted at arrn's18ngth.
During the year end 30 June 2021, CEA is closely affiliated with CEA USA, a registered 501lcll31 Exempt
Organisation in the US. Through the sharing of staff, during the year CEA UK received donated
administration services from CEA USA tot8lling £58,06412020.' £92,284). CEA UK were 8lso in receipt of
uncharged access lo services paid lor by CEA USA valued at £47,65412020'. £63,729).
Th8r8 were no other r81at8d paty tiansactions.
28.
Post balancè sh••t *v•nts
The relationship between CEA UK and CEA USA was formalised on 1 July 2021 wth CEA UK becoming
the sole member land therefore having a degree of controll of CEA USA. The financial years of the tr0
entities have been brought into line. As of next ar consolidated accoLJnts will be pSented.
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Do¢ ID". 755d978b3¢982586e1¢495576fj¢4eb43Saa4b854