I take as my model for a “community of wisdom” Benjamin Franklin’s “Junto”, a club of about 12 men who got together weekly for their mutual improvement.  They would take turn about in leading a discussion on morals, politics, or science, and committed to produce and read to the group an essay of his own writing once every three months.

Our debates were to be under the direction of a president, and to be conducted in the sincere spirit of inquiry after truth, without fondness for dispute or desire of victory; and to prevent warmth, all expressions of positiveness in opinions, or direct contradiction, were after some time made contraband, and prohibited under small pecuniary penalties.

The first step is drawing up a list of likely candidates to form such a group.  Alternatively, you might use a resource such as meetup.com to find a group of individuals so inclined.  Or you might resort to joining a formally organized group such as Rotary or Toastmasters.

Franklin also drew up a list of questions (see questions under the link above) that I believe are indicative of what is a matter of concern to an “elder” or “wise one.”

In order for the group to be well run, for its members all to take part in the discussion, and for the group to eventually become viral, I believe the first meetings should address the ideas of channels of communication, of talk dancing, hand signals, and self-organization and self-replication of groups.

Why viral you may ask?  The group should have the goal of going viral so that the wisdom of the group can be shared with the world.  As the group grows and divides the elders become mentors to others seeking meaning and significance in their life.  This later became a goal of Franklin’s group as well, which eventually evolved into the American Philosophical Society.