I work in philanthropy, and our industry has been witness to a growing trend: the formation of giving circles.
It’s a cool and sensible idea. You don’t have to be wealthy to make a difference, but you do need some like-minded family or friends.
If you’re like me, you might make small impulse donations of $20 here, $50 there or $100 wherever. It feels good to do it, but each donation makes you realize how great the need is and that you don’t have enough to have an impact on everything that interests you.
A giving circle allows you to pull together a group of friends or neighbors or family or colleagues and form your own informal grantmaking group.
Collectively, your dollars add up, which allows your group to make bigger donations to more causes than you could have as an individual.
One Asian women’s giving circle granted $36,000.
It’s a great fit for young professionals who want to make a difference but aren’t sure how or where to begin. Part of the fun of the group is researching and learning about nonprofit organizations that work in areas you want to affect.
There is a growing number of Asian American giving circles that serve the unique charitable needs of the Asian community. View a list of Asian giving circles in action to see if there is one in your community. If you don’t find one in your area, consider starting one.
Now, I’m not sure about the legal and tax implications of making donations directly to individuals, but it would be cool to form a giving circle that supported local Asian American artists with grants that simply bought them some time to create.
If you are part of a giving circle or start one, be sure to share your story with KoreAm.
