https://blog.givewell.org/2022/07/05/update-on-givewells-funding-projections/

As little as six months ago, we were in the position of having more funding available than we could spend on opportunities that met our very high cost-effectiveness bar. Today, the opposite is true—we don’t expect to have enough funding to support all the cost-effective opportunities we find.

Will this remain true through 2025? Specifically, while this needs to be true at the end of 2025, it also needs to be true at every point between now and the end of 2025.