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What is a giving circle?
In its most simple form, a giving circle is a type of philanthropy where a group of individuals donate their own money to a pooled fund, deciding together where to donate. The individual group members each have an equal voice in selecting the recipient of the pooled resources.
What is the time commitment for me to participate in LIFT?
At the most, you would attend two meetings a year. Each meeting will take place in downtown Burlington for about 2 hours and will feel like a cocktail party or book club meeting.
You are not required to attend either of these meetings to participate, so your time commitment could be limited to voting online to select the recipient of LIFT's annual contribution.
What is the monetary obligation?
Members make a $500 annual donation ($250 for women under 35 and those working for non-profits) which is paid by the member directly to the nonprofit, so that it deductible in the same way that a personal donation to the same organization would be.
How does LIFT select the recipients of the group's individual donations?
Individual members are invited and encouraged to research, evaluate, and discuss organizations to support.
Nominations will be accepted from any member for the first half of the calendar year.
A group of 5 volunteers who serve as the Selection Committee will then review the list of nominees.
The Selection Committee will choose 2-3 nominated organizations which will be presented to the group in approximately June/July.
The members will then vote (each member has an equal vote) to select the winning organization for that year.
The winning organization will be invited to our second meeting of the year, to take place in approximately November, to be presented with the individual contributions.
How much money will an organization receive?
Our initial goal is to have 50 members. We estimate that we will have approximately 40 members who pay $500, and 10 who pay $250. If each member pays, then the annual recipient organization should ideally received $22,500.
What organizations will be selected?
This is completely dependent on who our members nominate. We hope to identify organizations that have smaller budgets and for whom our pooled donations could be a game changer or for whom a special project could become a reality.