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Creating a Micro-Foundation

Creating a Micro-Foundation. Giving Circles + Information Markets + Open Source CMS. What Are Giving Circles?. “groups of individuals who pool their funds and other resources to donate to their communities and seek to increase their awareness and engagement in the process of giving”

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Creating a Micro-Foundation

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  1. Creating a Micro-Foundation Giving Circles + Information Markets + Open Source CMS

  2. What Are Giving Circles? “groups of individuals who pool their funds and other resources to donate to their communities and seek to increase their awareness and engagement in the process of giving” In a 2007 study, the Forum of Regional Associations of Grantmakers' New Ventures in Philanthropy initiative identified approximately 400 Giving Circles in the U.S., more than double the number from two years earlier. A survey of 160 circles found that they leveraged $13 million in 2006 alone, and nearly $100 million to date. http://www.givingforum.org

  3. What Are Information Markets? Information markets are speculative markets created for the purpose of making predictions. Assets are created whose final cash value is tied to a particular event (will the next US president be a Republican, for example). Information markets have consistently performed better at predicting outcomes like Hollywood blockbusters and athletic events than experts. Companies like Hewlett-Packard and Google have started incorporating information markets into their business development strategies. http://en.wikipedia.org/wiki/Prediction_market

  4. Content Management Systems Build Community MySpace has more users than many countries in Europe have people

  5. The Micro-Foundation • Giving money is difficult because transaction costs are high – donors spend most of their time vetting projects and evaluating outcomes • A Micro-Foundation will reduce costs through information markets that select projects through collaborative filtering techniques and optimization • The Foundation will be structured through a CMS that allows the group to be self-organized and self-funded

  6. How It Will Work • Community members join a giving circle in the form of an online community and pay a monthly “membership fee” that goes towards donations • At each grant cycle each member reviews 2 or 3 grants from the grant pool • The information is aggregated through an information market and grantees are chosen • Each grantee submits reports to the community website at the completion of the project

  7. The Project Will Entail • Configuring a “community builder” module through Joomla • Creating a grant determination module that uses collaborative filtering for project selection • Creating an evaluation module that allows for project reporting

  8. Contact Info Jesse D. Lecy Doctoral Student, Syracuse University jdlecy@maxwell.syr.edu

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