The newly founded charity organization announced on Wednesday it had raised over $350,000 as more poker players participated in the campaign over the last three months of 2014.
The Raising for Effective Giving community of poker players said that over the three-month period ended December, it had raised $369,053, a substantial increase as compared to the sum of $37,873 it had reported during the third quarter of 2014.
This is the second REG report issued since the organization was founded in July by several professional poker players. The community was officially introduced to the public during the World Series of Poker, which this year were held in Las Vegas.
The organization’s aim is to provide contributors with the best information on the most cost-effective charities, an estimate from its collaboration with researchers and charity evaluators.
REG said that 94.5% of all received donations were designated by donors to specific charities, the most popular of which was GBS Switzerland with $125,800 towards its name.
The meta charity, or an organization that transfers the funds it receives to other charities, seeks to influence future leaders and decision-makers to become more altruistic and aware of global priorities.
REG’s founders, including Philipp Gruissem and Adriano Mannino who presented the organization for the first time during an official dinner in Las Vegas on July 3, are also members of GBS.
Philipp Gruissem is ranked second on Germany’s all time money list, while Liv Boeree, another co-founder, is ranked 22nd on England’s.
The second largest sum went to charity evaluator GiveWell, a non-profit organization that conducts regular research seeking the best giving opportunities to redirect its cash inflow.
Charities like Mercy For Animals, Animal Ethics, Animal Equality and the Albert Schweitzer Foundation all received $25,000.
Among REG’s board members are Igor Kurganov, Russia’s biggest money maker in history, and Stefan Huber, currently ranked 7th on Switzerland’ all time winners.
REG also reported it received $20,276 of unrestricted donations, which the organization divided evenly into one direct charity, Against Malaria Foundation, and one meta charity.
The latest report outlines REG’s intention to deliver on it pledge to keep its members informed about the funds it receives and where the organization is redirecting them.
To raise funds REG relies on its poker player member base, who have promised to forward at least 2% of their tournament winnings and 3% of cash game proceeds to the organization every quarter, but also takes donations from everybody else who wants to participate in the cause.
Martin Jacobson was the biggest giver, with $250,000 to his name, during the recent quarter, following his $10 million WSOP triumph in November. Mr. Jacobson was one of two representatives of REG on the tournament’s final table.
Jorryt van Hoof was the other REG member who stood at the table. Mr. Hoof started the 9-man battle as the chip leader, but finished 3rd with $3.8 million, after he was knocked out by Mr. Jacobson’s AT offsuit.
REG also said it is working with GBS to extend the organization’s reach to professional tennis, competitive gaming, and daily fantasy sports.
