Many affinity groups and collaboratives are only now beginning to open up their ranks to include individual as well as institutional donors, but other types of collaborations have emerged that focus specifically on the needs and interests of non-institutional donors. This is most evident in the growing number of “giving circles"—more or less formally organized groups of donors who come together to learn about a topic, pool their money, and decide as a group which efforts they will support. These collaborations are based on shared interest in an issue or in learning or acting together. While some giving circles are entirely informal, others, like the Boston-based Hestia Fund, may hire part-time staff and contribute to group administrative costs. Still others are sponsored by community foundations, like the Women’s Giving Circle at the Baltimore Community Foundation, and a few develop into free-standing organizations, like the Washington Women’s Foundation.
The Hestia Fund is an informal giving circle of 40 women that meets monthly to identify effective nonprofits and make collective decisions about grants. Each member contributes $5,000 per year for three years to create an annual pool of approximately $200,000. Additional funds are contributed to pay for administration and a part-time staff person.
The Baltimore Women’s Giving Circle is one of four circles at the Baltimore Community Foundation. It was founded in 2001 to support Baltimore-area organizations with projects that increase the self-sufficiency of women and their families. The circle has more than 150 members, and has disbursed more than $150,000 in its first two years.
The Washington Women’s Foundation (WWF)began in 1995 when 116 local women decided to combine their resources to address community needs. Since then, the organization has grown to more than 400 members and awarded nearly $5 million in grants. Each member contributes $1,000 annually for pooled grantmaking, $1,000 for individual grantmaking, and $300 to support WWF educational programs. WWF is a nonprofit, 501(c)3 corporation with assets held in an advised fund by the Seattle Foundation.
|
