The emphasis here is on helping each other and sharing the love in ways that don't involve actual money. Gifts could include icons, wallpapers, website layouts, art, beta reading, fanfic, help with homework, help in an MMO like World of Warcraft or helping someone spread the word about a new website, etsy shop or portfolio. The possibilities are endless!
We run on a quarterly system which means we have a sign up every 3 months, starting from January 2013. This is an exchange so all members are expected to be a gifter as well as a gift recipient.