The Ireland Funds has released ./guidance on setting up a Giving Circle for donors.
A Giving Circle is formed when individuals come together and pool their funds, decide together where to give the money (and perhaps volunteer time or expertise) and learn together about their community and philanthropy.
The 11 page ./guidance says a recent study by the Forum of Regional Associations of Grant-makers in the United States found that 140 Giving Circles have generated nearly $90 million, primarily in the last five years.
The Ireland Funds document, which was prepared by Helen Fullen and Jordan Campbell for the Ireland Funds, says there are ten steps to establishing a successful Giving Circle, including setting up a structure and mission, selecting beneficiaries and making grants.
Experience to date shows that most Giving Circles set annual level of donations from €120-€1000 a year to €5000 to €20000.
The ./guidance provides an example of an Irish Giving Circle, the Core Group, which was set up in 2004 and to date has made donations of €150,000.
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