Merriam-Webster Collegiate Dictionary - potlatch

 I. noun  Etymology: Chinook Jargon patlac, from Nootka p?a??p?ac  Date: circa 1861  1. a ceremonial feast of the American Indians of the northwest coast marked by the host's lavish distribution of gifts or sometimes destruction of property to demonstrate wealth and generosity with the expectation of eventual reciprocation  2. Northwest a social event or celebration  II. verb  Date: 1898  transitive verb  1. to give (as a gift) especially with the expectation of a gift in return  2. to hold or give a ~ for (as a tribe or group)  intransitive verb to hold or give a ~