Discussions on waqf and waqf institutional development currently it has become one of the major topics in the national and international discourse, especially in Muslim countries. Waqf institutions has great potential to support job creation, providing educational opportunities, and to reduce reliance on government funding. However, some problems related to the management of Waqf as asset maintenance, management and mobilization of waqaf asset should be followed. Some recent research suggests there is no specific guidance in preparing and maintaining continuity waqf report as a means of accountability through transparent reporting. In addition to the accountability report itself, the credibility of the institution of Waqf manager also requires the evaluation of performance. As a nonprofit organization, the performance of Waqf institutions may not be determined by certain financial ratios, but how the institution is able to move effectively Waqf assets and how those assets can contribute to the welfare of the people. Therefore, the performance framework Waqf institutions need to be developed. This conceptual paper aims to develop a performance measurement framework for Waqf institutions