This case study underscores the critical role that an evaluation and technical assistance partner can play in supporting innovative financing models to address complex social challenges. Since 2020, OMNI has provided independent evaluation support to NPX, Inc., to inform funding for the organization’s outcomes-based financing model, known as an Impact Security.

The Impact Security is a performance-driven debt instrument that offers nonprofits flexible working capital and linking repayment obligations directly to their impact. In this model, investors fund specific "impact units," while donors contribute to a related fund. At the end of each period, nonprofits receive funds based on the impact units they achieve, which are then used to repay investors, potentially with a financial return. Seven nonprofits, focused on strengthening economic security within their communities, are supported by this outcomes-based financing structure, with the Center for Social Investment providing evaluation and technical support throughout the process.