Strategic Philanthropy isn’t always Smart Philanthropy.

While recently helping a family foundation develop a strategic, long-term grant with a valued nonprofit partner, I was reminded of the importance of blending sound strategy and metrics with a spirit of trust, cooperation and co-investment. As Katherine Fulton pointed out in a memorable talk last year, “Making change is an art and it requires working with others,” and “philanthropy’s unique role is to provide the social risk capital that more traditional givers and governments and businesses will not.”