Philanthropy and endowed foundation are vitally important institutions of modern society, yet in recent years, they've faced new threats such as declining resources and questions of accountability and performance. To address these questions, individual philanthropists and foundation leaders have looked to strategic philanthropy to become more effective and efficient. Though this can stimulate reflection, it still does not provide answers to fundamental questions of foundations' distinctive roles in contributing to public good. This important new book provides an overview of creative philanthropy along with an analysis of theory and practice. The authors spell out the implications of their study for management and policy, and provide readers with vital tools and techniques. Drawing on case study examples, and incorporating sections on key questions and dilemmas, this revealing book covers: the philanthropic deficit; finding a distinctive role to do more with less; characteristics of the creative foundation; beyond strategic philanthropy; the strength of creative philanthropy; and, developing creative foundations and philanthropic practices. Essential reading for all those who study or work in foundations, philanthropy and non-profit organizations, this important new book clearly navigates a path through this significant yet highly complex subject area.