17 June 2026
Impact-First Investing Tool
By Social Finance Institute and the Rustandy Center for Social Sector Innovation
The Impact First Investing Tool is an interactive online tool that helps philanthropic organisations model how impact-first investments, which prioritise social outcomes over financial returns, could increase their overall impact over time. Useful for foundations, family offices, and donor advised funds exploring alternatives to traditional grant-making.
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The IFI Tool is a free, interactive modelling tool developed by the Social Finance Institute and the Rustandy Center for Social Sector Innovation at the University of Chicago Booth School of Business. Impact-first investments (IFIs) are investments that prioritise social or environmental outcomes, accepting below-market financial returns in exchange for greater impact. The tool helps users explore how even small allocations to these kinds of investments might increase the total impact of their philanthropic assets over time.
The tool includes worked examples, a glossary, and a portfolio modelling function that allows users to test different assumptions about returns and impact. The site also includes case studies showing how IFIs work in practice from the perspective of organisations receiving this type of capital. It is most relevant to philanthropic organisations, family offices, and donor advised funds considering how to deploy their assets beyond traditional grant-making.
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