What's Happening?
Giving circles have become a significant force in philanthropy, particularly among women donors. According to a report by the Collective Giving Research Group, these circles have awarded approximately $1.29 billion to charitable causes. Philanthropy Together, a giving-circles-focused PSO, noted that between 2017 and 2023, nearly 4,000 collective giving groups mobilized 370,000 philanthropists to donate $3.1 billion. This movement is expected to double by 2028. Women are driving this growth, making up the majority in 70% of giving circles. These circles vary structurally, with some belonging to networks, others housed at foundations, and some standalone organizations. Notable networks include Philanos and Impact100, which have collectively awarded millions to local communities.
Why It's Important?
The rise of giving circles, particularly those led by women, represents a democratization of philanthropy. At a time when the ultra-rich are poised to dominate the social sector, these circles offer a way for more modest donors to have a significant impact. Women’s giving circles are crucial in empowering female donors and addressing gender disparities in philanthropy. They support a wide range of causes, from arts and culture to health and wellness, and provide a platform for women to collectively influence social change. This trend could lead to more inclusive and diverse philanthropic efforts, benefiting communities across the U.S.
What's Next?
The giving circles movement is expected to continue growing, with Philanthropy Together estimating a doubling in scope by 2028. As more women engage in collective giving, these circles may expand their reach and influence, potentially inspiring new models of philanthropy. Organizations like Philanos and Impact100 will likely continue to play a pivotal role in supporting and sustaining these efforts, offering resources and networking opportunities to further empower women donors.
Beyond the Headlines
The growth of women’s giving circles also highlights broader cultural shifts towards gender equality and empowerment. By providing women with a platform to lead and make impactful decisions, these circles challenge traditional philanthropic models and promote inclusivity. This movement may inspire similar initiatives in other sectors, fostering a more equitable society.
