Impact is the difference you make. If you can establish whether your funding is creating an impact you can increase that impact, take more informed decisions, and make your funding go further.
Impact practice is increasingly common among charities. But good impact practice is for funders too. In order to really drive change, funders must support their grantees’ impact practice, and they must examine and improve their own work.
As a funder, your approach to impact will depend on what type of funder you are. So you need to identify the type of funding you give and where you can make an impact. Then you can establish your approach.
Impact should be a focus throughout your funding cycle, not just an afterthought. So use the cycle of good impact practice to make sure you are planning, measuring, assessing and reviewing your impact.
There are several leading funders who are already adopting best practice in each of these areas, and we give examples of these in this paper.
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