Measuring and Improving Impact: A Toolkit for Nonprofit Funders of Medical Research
Published: March 2013
Medical research foundations, also known as venture philanthropy groups, play an outsized role in transforming the medical research system to better respond to the needs of patients. Since its inception, FasterCures has continued to shine a light on the successes of these foundations in an effort to amplify their lessons learned and sense of urgency to the rest of the medical research and development enterprise. There is no one-size-fits-all formula for success in medical philanthropy.
In this report, FasterCures provides a common framework for assessing and improving organizational effectiveness, and a panoply of ideas, questions, and models to help guide new and emerging nonprofits with strategic and tactical choices. For medical research foundations and the philanthropists who support them, informed and strategic decision-making can help ensure maximum return on philanthropic investment. By having performance measures and standards in place for accountability, collaboration, effectiveness, and resource building, organizations are cultivating a culture that is mission-driven, results-oriented, and focused on the true bottom line: preventing, diagnosing, and curing disease.