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Could giving circles rebuild philanthropy from the bottom up?

from From Open Democracy

Giving circles are voluntary groups that enable individuals to pool their money — and sometimes their time as volunteers — to support organizations of mutual interest. They also provide opportunities for education and engagement among participants about philanthropy and social change, connecting them to charities, their communities and each other. While giving circles come in many shapes and sizes, their key attribute is that members decide on which organizations they want to support collectively, engaging each other in discussions and decision-making and taking direct responsibility for grant making and running the group.
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