AbstractSocial transformations around the world have increased the need for philanthropy and motivated people to become more active at the local level. Giving circles have emerged from this context, providing a hands-on, “do-it-yourself” approach to philanthropy. They involve individuals collaborating to support causes of mutual interest and frequently include social, educational, and engagement opportunities for members. In this research, I focus on understanding if participation in these new forms of philanthropic voluntary association lead to greater civic and political participation. That is, do giving circles serve as schools of democracy? I draw on survey data from current and past members of giving circles and donors outside these circles, as well as interviews with giving circle members, in the U.S. and U.K. The findings suggest that giving circles have a positive impact on giving, volunteering, and efforts to address problems in the community, but little effect on participation in changing government policy or other political activities.