It is good that there are more organizations in this important area. However, it seems very strange which outcomes they list.
Let's put it this way: I don't care about how many people are dying of malaria. I just don't. What I do care about is people dying, or suffering, of anything. That is why I find the attitude of AidGrade to be (almost) completely useless. The outcome I care about is maximizing QALYs, or maybe some other similar measure, and I actually don't care about the listed outcomes at all, except for as much as optimizing on them may help people not suffer and die. Basically, AidGrade tries to help with our instrumental goals, and that is well and fine, but in the end what we are trying to optimize are our terminal goals, and AidGrade doesn't help at that at all.
I agree with the spirit of this comment, but I think you are perhaps undervaluing the usefulness of helping with instrumental goals.
I am a huge fan of GiveWell/Giving What We Can, but one of the problems that many outsiders have with them is that they seem to have already made subjective value judgments on which things are more important. Remember that not everyone is into consequentialist ethics, and some find problems just with the concept of using QALYs.
Such people, when they first decide to start comparing charities, will not look at GiveWell/GWWC. The...
AidGrade is a new charity evaluator that looks to be comparable to GiveWell. Their primary difference is that they *only* focus on how charities compare along particular measured outcomes (such as school attendance, birthrate, chance of opening a business, malaria), without making any effort to compare between types of charities. (This includes interesting results like "Conditional Cash Transfers and Deworming are better at improving attendance rates than scholarships")
GiveWell also does this, but designs their site to direct people towards their top charities. This is better for people with don't have the time to do the (fairly complex) work of comparing charities across domains, but AidGrade aims to be better for people that just want the raw data and the ability to form their own conclusions.
I haven't looked it enough to compare the quality of the two organizations' work, but I'm glad we finally have another organization, to encourage some competition and dialog about different approaches.
This is a fun page to play around with to get a feel for what they do:
http://www.aidgrade.org/compare-programs-by-outcome
And this is a blog post outlining their differences with GiveWell:
http://www.aidgrade.org/uncategorized/some-friendly-concerns-with-givewell