In January 2008, Meghan Malone Farragher gathered five female friends at a Seattle coffee shop. While they didn’t know why the meeting was called, they knew this wasn’t an ordinary coffee date. Little did they know that this initial meeting would be the birth of Women’s Philanthropic Investment Group of Seattle, otherwise known as WPIG (pronounced “we-pig” like a piggy bank). Now that the original six have grown to sixteen (with a quarter of members named Meghan/Meagan/Megan and two Alisha/Alicia’s), they are fulfilling their mission of “helping women and children move from places of need to self-sufficiency and stability through advocacy, outreach, and charitable giving” more than ever.

So what are these women, ranging in age from 25 to 37, doing that is so interesting? And is it a replicable model for you?

Vivanista spoke with WPIG board members Katie Patchin and Alisha Eastman as well as member Meghan Wagner to get their perspective.  Like the traditional giving circle model, WPIG members pay monthly dues, which are then donated to a different charitable cause each year. However, there is an added twist: the money collected from dues is invested into the stock market in order to gain an even higher return to donate to their beneficiary. Alisha, a co-founder as well as marketing chair and board member at large, said:

“We six girls basically decided to come together to give back to the community both financially and physically. We wanted to invest in the future, educate ourselves in how to invest, and create a nonprofit organization.”

Because of their unique mission, WPIG operated as both a limited liability company (LLC) and a Washington State nonprofit. Alisha explained the combination: “We could invest and not be restricted… We were still getting educated on how to invest but we could also have a philanthropic side”. However, because of their philanthropic mission, their lawyer recommended that they drop their LLC status and operate as a Washington state nonprofit until they receive full 501©3 status, which they will hopefully obtain by the end of this year. Katie, a co-founder as well as event co-chair and board member at large, further explained their investment strategy stating, “A core principal of WPIG is to invest in socially responsible companies. Although that may mean less returns over all, it is very important to all of us that we align with companies who share a high level of integrity. In addition we try to choose companies that our group members share a common interest in following, whether that be the environment or a certain brand”.

And when it comes to making decisions on where to invest, it’s a group effort. Each member brings investments that they feel align with WPIG’s mission to the investment committee, who researches the options and presents the pros and cons at the next meeting. However, Katie emphasized that the group is not dealing with hundreds of thousands of dollars in investments, as some may expect from other examples of giving circles. “It’s $20 a month for everyone’s dues, which is reasonable… Investing serves as more of an education piece for us than anything. The big money comes from our events”.

WPIG has high hopes for their events in the future based on their past success. Their first event, WPIG Out for Charity, was a karaoke event where guests used friendly embarrassment as a method of fundraising. Katie explained that after attendees paid a nominal fee to enter, they could pay to see their friends sing a certain song. “For example, say I wanted Meghan to sing ‘Like a Virgin’. I could pay $20 for her to sing it, and she would either have to sing it or pay $5 more not to sing it”. Recently, the women put on a silent auction with art donated from artists across the country, as well as art from the girls at the orphanage in Bali they were supporting. This fall, WPIG is working on a partnership with a well-established Seattle nonprofit. They are hoping to devote most of their energy to what will become their first annual Kentucky Derby party in May. Katie said, “With an event like the Kentucky Derby, we wanted to have an event that people can look forward to every year. Everyone can dress up with big hats and we’ll have mint juleps”.

Beyond the glamour of events and the excitement of the stock market, WPIG is all about what really matters: the causes. In 2008, they supported the YWCA of Seattle; in 2009, the “Give to Asia” Bill and Pat Bali Fund; and this year, the Ryther Child Center. WPIG has a few requirements for any charity they choose to back: they focus on human service nonprofits, aim for a balance of international and local organizations, and build relationships with their beneficiaries that will go beyond the year that they financially support them. Beyond pure donations, WPIG also pledges their service to their chosen organizations and beyond. The members of WPIG commit to a minimum of one quarterly hands-on volunteer activity. Because of this personal investment in their causes, they have been able to see lives changed on an individual level. Through the orphanage they supported in Bali, they sponsored a girl for a year and recently found out that she did well on her exams and will benefit from their scholarship fund as she continues her education in the hope of becoming a teacher.

After what they have accomplished already, what is WPIG’s plan for the future?

Meghan, event-co chair, said, “We look forward to great things in the future, like growing a strong, committed donor base. We want to focus on the impact we make, choose new charities, grow, and shift. We want to be committed to our mission and communicate that back to the community, as well as identify who can bring us to the next level for growth. We’re looking to use strategic communication to share who we are, what we do, and how we do it”.

And if Meghan could give one piece of advice to those inspired by WPIG’s story?

“People forget that you just need to show up. There is a universal theme of showing up to do something different outside your own personal agenda. Volunteer for an afternoon cleaning cars or show up to donate money. We have to appreciate that everyone has unique, different talents and the first step is to get involved. This generation wants to be more involved and hands-on than the passive check-writer”.

WPIG’s Recipe for Success:

Take 16 parts philanthropic women, 4 parts Megan, 2 parts Alisha, 1 part investment, 1 part donation with a dash of 501©3, and 1 part Seattle to make one delicious pig.

Things you can learn from WPIG:

1. You don’t need hours upon hours of free time, hundreds of thousands of dollars, or a small army of members to make a significant difference.  WPIG is run by 16 professional women who meet once a month and donate $20 to monthly dues.
2. Remember to donate not just financially, but physically as well. Each member volunteers a minimum of once quarterly in the community. The charity that WPIG supports receives both donations and hands-on service throughout the year.  Not only will the organization appreciate your involvement, you will see firsthand the fruits of your efforts.
3. Get creative!  The women at WPIG didn’t just start a giving circle; they created a way to give back, form relationships, and educate themselves.  And through their investment, they have not only learned about the stock market, but also increased donations to their beneficiaries.