Paul Brest and Hal Harvey write about the second edition of their book, Money Well Spent.
They note that a successful strategic philanthropy strategy must have five elements:
- Clearly defined goals
- Evidence-informed plans for achieving them
- Capacity to implement the strategy
- Provisions for monitoring progress in order to make appropriate course corrections, and
- Provisions for evaluating ultimate success
They also emphasize that “effective strategic philanthropy accords great respect to the expertise and autonomy of grantee organizations as well as their shared beneficiaries.”