Giving circles, though not a novel concept, have been gaining momentum among younger donors seeking inclusive and democratic ways to engage in charitable work. The Generosity Collective exemplifies the concept: Groups of individuals come together, pool their donations in a fund at the CFO and collectively determine their grant recipients. This approach empowers participants to play an active role in confronting pressing local issues, giving them a direct say in how their financial contributions are distributed. The collaborative approach not only enhances the effectiveness of the work, but also facilitates the exchange of ideas, expertise and a more comprehensive understanding of the issues the circle aims to address.
The Joplin Philanthropic Society, or the Phil, offers an example of the impact that giving circles can have. The Phil has granted about $800,000 to nonprofits serving Joplin, Webb City and Carl Junction since its inception in 2018 by the Joplin Regional Community Foundation. The circle comprises 100 members who donate at least $2,500 in annual dues to the Phil’s fund. Earlier this year, the Phil distributed $175,000 to three organizations in the Joplin area.
“This is an exciting way to engage the next generation of donors,” Kembell says. “Giving circles, such as the Generosity Collective, provide impactful giving by grouping smaller gifts into larger ones.” Like Joplin’s Phil, the Generosity Collective is aiming to acquire 100 members in its first year. It plans to begin making grants in late 2024.
With its potential for inclusivity, collaboration and adaptability, the Generosity Collective is poised to leave a mark on the philanthropic landscape of Springfield.
By Matthew Stewart
Read More from Annual Report FY23