Giving Thought: Philanthropy is for everyone

Philanthropy is a powerful word that can connote foundations making grants or wealthy individuals giving money to the “less fortunate,” leaving some members of our community feeling as though being philanthropic is for “other people.” In reality, philanthropy is for everyone. Grantmaking and being a “philanthropist” are just aspects of a much larger concept.

The word “philanthropy” is an English word derived from Greek. In Greek, the word philanthropy grows from the two words “Philos,” meaning “love,” and “Anthropos,” meaning “man” or “humanity.” From its Greek roots, philanthropy means the “love of humanity.”

At an individual level, any community member can engage in philanthropy by directly helping neighbors who need support or working through or alongside nonprofit organizations serving community members by donating their resources. These resources could be financial, but offering time or talent through volunteering or serving on a board can also have a tremendous impact.

Giving circles or collective giving are options for individuals who desire a social or collective component. They are powerful ways to pool individuals’ funds, resources, knowledge, and networks together to support causes collectively chosen by the group. The collective giving form of philanthropy has been proven to diversify and democratize giving. Through the giving circle model, engaged community members and philanthropists can learn more about the most pressing issues in their communities.

Collective giving dramatically expands the areas in which funding is made. It is a catalyst for social, community-led change across the nation. By allowing members to speak to and decide which areas to fund, collective giving profoundly impacts members themselves. It pushes the bounds of traditional philanthropy by allowing individuals to collaborate with their peers and expand what causes receive funding. This fosters a sense of belonging and purpose and catalyzes social cohesion and change.

The latest study of collective giving shows that participation in collective giving has grown to 4,000 groups, contributing over $3.1 billion — more than doubling its impact in seven years. According to recent studies, the movement is now on a trajectory to double again in the next five years, underscoring its growing appeal and potential to profoundly reshape the philanthropic landscape.

Aspen Community Foundation (ACF) began hosting its first giving circle in 2016. Since its inception, that group, the Giving Network, has granted over $3.1 million to local nonprofits and community-serving organizations.

Earlier this year, two high school students approached ACF about launching a giving circle of their own to bring teens together across different faiths to learn about philanthropy and pool their resources to make a difference in the community by raising and pooling money to grant to nonprofits in our community.

An individual’s contribution to a collective giving effort can range from $25 to over $100,000 depending on the group structure, which the members and founders determine. Community Foundations like ACF can offer these groups support in connecting with nonprofits, educating on need, and providing administrative assistance.

While there is a place for larger grants from foundations, smaller donations from individuals significantly affect community outcomes and nonprofits’ ability to perform meaningful and critical work in communities. When individuals use their time and resources to research and connect with nonprofits that support issues they care about, especially at a local level, the community and individuals directly benefit.

The power of caring and concerned individuals coming together to learn about issues and support nonprofits through collective giving is another way to engage in meaningful philanthropy that supports organizations and builds community, directly demonstrating a love of humanity.

Community foundations are a resource for exploring philanthropy at the individual and collective levels for everyone in our community. They allow anyone deeply caring for humanity an impactful avenue for giving back to the collective good.

Allison Alexander is the director strategic partnerships and communication at Aspen Community Foundation. ACF, with the support of its donors, works with a number of non-profits in the Roaring Fork and Colorado River valleys. Throughout the year, we will work to highlight non-profits in the region.