The case for impact purchase. Part 1

Abstract

Impact purchase is an alternative funding mechanism for altruistic work that aims to complement (not replace) other funding mechanisms, such as grants. Unlike grants, which evaluate and fund projects before they begin, impact purchases evaluate and fund projects after they are completed. This provides several benefits, including increased flexibility and a more robust evaluation process. By increasing flexibility, impact purchases can empower people to pursue projects that they are passionate about, without being constrained by the requirements of a grant application. By allowing more time for evaluation, impact purchases can help to ensure that funds are allocated to projects that have a proven track record of success. In this way, impact purchases can be a valuable tool for supporting altruistic work and promoting positive outcomes. – AI-generated abstract.