Underperforming philanthropy is a waste of money.

1. Be Strategic: a smart philanthropic strategy starts by defining the societal value that it seeks to enhance.

2. Think Long.

3. Self-sufficiency is a myth: smart funders work toward long-term sustainability.

4. Fund at the right level.

5. Fund (good) overhead and capacity building.

6. Measure the right things: long-term impact is critical.

7. Balance restricted and unrestricted gifts.

8. Be part of the community.

9. Don’t go it alone: smart funders are networked and work in partnership. Share information and collaborate with others.

10. Have a balanced portfolio. The same level of care that goes into creating an investment portfolio should go into devising a good philanthropic portfolio.