A curated collection of research, frameworks, and tools — organized by topic and mapped to The Impact Thesis Blueprint.
A theory of change is the logical framework that traces the causal path from investment to impact. It connects five stages — from the initial capital contribution and the activities it funds, through to the outputs, outcomes, and long-term impact those activities produce.
The concept originates in program evaluation and international development, where practitioners needed to demonstrate not just that outcomes occurred, but that specific interventions caused them. Impact investing adopted this framework because it addresses the same fundamental question: how does money become change?
In practice, a theory of change requires identifying the assumptions embedded in each causal link. If you invest in a company that provides affordable housing, you are assuming that housing affordability is a binding constraint for the target population, that the company's model can deliver at the price point required, and that the provision of housing will produce downstream effects on health, education, or economic stability. Each assumption is testable. Each can be supported or undermined by evidence.
The Blueprint's architecture is built on a theory of change. It aligns the impact pathway and integrates complementary models to trace the logical connections between contribution and result. The resources here support that process from multiple angles.
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