Philanthropy and endowed foundation are good and vitally important institutions of modern society. They fit in well with the way advanced market economies are developing, in particular with the nexus between private and public benefit in an era of "small" government and greater social diversity. As institutions, however, they are facing new threats: declining resources relative to needs, and questions about their accountability and performance. In recent years individual philanthropists and foundation leaders have looked to strategic philanthropy as a way of becoming more effective and efficient. Strategic philanthropy can help foundations to think about structures and processes, but it does not provide any answer to the more fundamental questions about foundations' distinctive roles in contributing to public good. This important new book provides an overview of creative philanthropy along with an analysis of the theory and practice of philanthropy. The authors spell out the implications of their study for management and policy and provide readers with the tools and techniques of creative philanthropy. Essential reading for all those who study or work infFoundations, philanthropy and nonprofit organizations this important new book explicates this complicated but vital subject area.

Philanthropy and endowed foundation are good and vitally important institutions of modern society. They fit in well with the way advanced market economies are developing, in particular with the nexus between private and public benefit in an era of "small" government and greater social diversity. As institutions, however, they are facing new threats: declining resources relative to needs, and questions about their accountability and performance. In recent years individual philanthropists and foundation leaders have looked to strategic philanthropy as a way of becoming more effective and efficient. Strategic philanthropy can help foundations to think about structures and processes, but it does not provide any answer to the more fundamental questions about foundations' distinctive roles in contributing to public good. This important new book provides an overview of creative philanthropy along with an analysis of the theory and practice of philanthropy. The authors spell out the implications of their study for management and policy and provide readers with the tools and techniques of creative philanthropy. Essential reading for all those who study or work infFoundations, philanthropy and nonprofit organizations this important new book explicates this complicated but vital subject area.

The growth of philanthropic foundations in numbers and significance raises two immediate questions. First, what makes for success and failure of foundations' projects and activities? Second, what yardsticks or benchmarks are used to measure performance and track goal attainment? The purpose of this book is to delve deeper into the complex set of issues that lie behind the performance and wider impact of philanthropy. Performance Measurement in Philanthropic Foundations looks at the strengths and weaknesses of philanthropic foundations, which are independent of both the market and ballot box and yet open to signal and incentive deficiencies. The authors use in-depth case studies from different countries to illustrate the problems and challenge much of the conventional wisdom on foundation "success" and "failure." The book also outlines the main contours of a proactive governance and management style to address those problems.

The growth of philanthropic foundations in numbers and significance raises two immediate questions. First, what makes for success and failure of foundations' projects and activities? Second, what yardsticks or benchmarks are used to measure performance and track goal attainment? The purpose of this book is to delve deeper into the complex set of issues that lie behind the performance and wider impact of philanthropy. Performance Measurement in Philanthropic Foundations looks at the strengths and weaknesses of philanthropic foundations, which are independent of both the market and ballot box and yet open to signal and incentive deficiencies. The authors use in-depth case studies from different countries to illustrate the problems and challenge much of the conventional wisdom on foundation "success" and "failure." The book also outlines the main contours of a proactive governance and management style to address those problems.

This book discusses a series of related but independent challenges faced by philanthropic foundations, drawing on international, contemporary and historical data. Throughout the world, private philanthropic foundations spend huge sums of money for public good while the media, policy-makers and the public have little understanding of what they do and why. Diana Leat considers the following questions: Are philanthropic foundations more than warehouses of wealth? Where does foundation money come from, and is there a tension between a foundation's ongoing sources of income and its pursuit of public good? How are foundations regulated and held accountable in society? Is there any evidence that foundations are effective in what they do? Is it possible to have too much philanthropy? In posing these questions, the book explores some of the key tensions in how foundations work, and their place in democratic societies.