What’s missing from the data on the impact economy?

At last year’s Beacon Impact and Philanthropy Forum, one theme consistently resurfaced across plenaries, workshops and roundtables: the quality of outcome data in the philanthropy and impact sector, and the practices that sit behind it. 

Despite years of progress in impact measurement and reporting, participants were clear that weaknesses in our data infrastructure remain one of the biggest barriers to widening participation in philanthropy and deepening social impact. Poor-quality, fragmented and incomplete data continues to limit learning, accountability and confidence across the impact economy. 

If we are serious about scaling social change, filling the gaps in how we collect, share and use data is essential. 

What 2025 Forum participants told us: 

Data remains fragmented and inconsistent
Participants repeatedly highlighted the absence of a shared data infrastructure across philanthropy, impact investing and public services. This fragmentation makes it difficult to learn from each other, or build a clear picture of what works, particularly in complex areas such as Social Outcomes Contracts and blended finance.

We still lack outcome-level data
Many organisations continue to report primarily on inputs and outputs rather than outcomes or long-term change. While this is often driven by capacity constraints, it limits our ability to understand whether interventions are creating sustained or systemic impact. 

There is no trusted, central source of charity data
Funders, wealth advisers and intermediaries often carry out due diligence and impact assessment without access to a single, reliable repository of charity data. Information on past performance, learning and outcomes is dispersed, inconsistent, or difficult to access — increasing transaction costs and slowing decision-making. The new Charities Statement of Recommended Practice (SORP) released in Autumn 2025 looks a promising step in the right direction.  

We are not learning enough from what didn’t work
A lack of openness about failed or underperforming initiatives remains a major weakness. Without shared learning from failure, the sector risks repeating mistakes, wasting resources and discouraging responsible risk-taking. 

Measurement systems prioritise finance over people
In parts of wealth management and impact investing, measurement frameworks are still shaped primarily by financial reporting requirements. Forum participants noted that this often sidelines qualitative data and lived experience which is precisely the information needed to understand real-world change. 

What needs to change 

Forum discussions pointed to a set of clear, if challenging, priorities: 

• Normalise open reporting on what didn’t work, supported by anonymised case studies that enable learning without penalising organisations.

• Design metrics that reflect lived experience and systemic change, rather than focusing solely on funder KPIs or financial returns. 

• Fund data capacity, not just delivery, enabling charities to collect and analyse meaningful evidence as part of their core work. 

Progress — and the road ahead 

This is not an easy fix. Data practices are deeply embedded in funding structures and organisational cultures. However, there are promising developments. 

One notable example is UK Grantmaking, launched in June 2024 as a collaboration between 360Giving, the Association of Charitable Foundations, UK Community Foundations and London Funders. The platform aims to help funders better understand their role within the funding landscape and support more effective, strategic giving through improved data sharing. This sits alongside a wider move towards shared infrastructure in the funding sector, including the recent joining of Funders Together by 360Giving.

Initiatives like this show what is possible when the sector collaborates around shared standards and openness. 

And over the last few months, we at NPC, have also been working to pull together the best available data, listen to voices across the sector, and build a clearer narrative showing the scale, value and diversity of the impact economy. In the coming weeks we are going to publish a report called Impact UK in which we have tried to define and quantify the impact economy, adding together charities, and other recognised structures like social enterprises, as well as purpose driven business and investments.  

Looking ahead 

If we want to build an inclusive, evidence-led impact economy, we must invest in better data to prove – and improve – impact. 

At this year’s Forum on 11 February 2026, we will continue to track progress on data quality and transparency. Crucially, we will bring together those already leading this work to share expertise and build momentum towards more standardised and meaningful use of evidence across the sector. 

Better data alone will not solve the challenges we face but having it will make it easier to advocate for the impact economy, to build public understanding, celebrate impact and attract new people and capital.