Jeff Raikes not only works alongside active donors, he is one. With his wife Tricia, he helps lead the Raikes Foundation, which works to address the challenges of early adolescence and reduce youth homelessness. “We really think of ourselves as temporary stewards of a portion of society’s wealth, with the responsibility to figure out how to put that back into society,” says Raikes.

Jeff Raikes says it’s critical to take the time to refresh your strategy based on what you’ve learned to continuously improve your philanthropy. For example, insights from Gates’ small school structure work led to its focus on teacher excellence.

Learn more about learning from failure at The Bridgespan Group.