The primary question in this study is whether the inequality observed in rural and urban giving patterns is equitable. Practitioners and policy makers have expressed concern about equity in foundation giving, but these concerns are often conflated with equality measures. The focus of this article is to disentangle equity and equality and then propose—in the absence of equity standards in philanthropic literature—three equity standards that can be used by scholars, practitioners, and policy makers to assess the spatial distributional equity of philanthropic grant making. In an illustrative application of the equity standards to grants made in 2005 by foundations in the state of Georgia, it is determined that rural communities receive an equitable share of philanthropic grants and grant dollars in the state.