Good Ventures Awards $25 Million to GiveDirectly

Good Ventures Awards $25 Million to GiveDirectly

Facebook co-founder Dustin Moskovitz and his wife, Cari Tuna, have announced a $25 million gift to GiveDirectly in support of the organization's efforts to lift people out of poverty.

Awarded through Good Ventures, the couple's foundation, the funds will be used to accelerate the growth of the organization — which makes no-strings-attached mobile cash transfers of about $1,000 directly to extremely poor people — and build its capacity to partner with major international aid agencies. The organization plans to use up to $19 million of the gift to provide cash transfers to thousands of individuals and families, both directly and through partnerships with governments and large nongovernmental organizations, with the goal of encouraging aid agencies to allocate more of their own funds to cash transfer and establishing the model as the "standard of comparison" for aid programs. The remaining $6 million to $9 million will be used over the next three to four years to build a marketing and fundraising team that works to scale the GiveDirectly model globally.

Good Ventures has previously donated a total of $12.6 million to the organization through GiveWell, which recommends the group as one of its "top charities."

"GiveDirectly wants to...ultimately shift resources from less cost-effective programs to cash transfers," Tuna said in a blog post announcing the gift. "We're happy to support this work because we see a lot of potential in cash transfers as a tool for greater impact and accountability in international aid and development."

Cari Tuna. "Announcing a $25 Million Grant to GiveDirectly." Good Ventures Blog 08/03/2015.