Investments that benefit society and provide financial returns can reward both non-governmental organizations (NGOs) and investors. NGOs’ expertise and infrastructure make them attractive for investors interested in achieving positive social or environmental impact. While new capital sources can help NGOs scale up activities and become more flexible, many NGOs lack experience in using private capital, and institutional investors often don’t understand how investments in NGOs work. A report by Zurich and Population Services International (PSI) addresses these challenges. Based on discussions with investors, NGOs and donors, its detailed framework looks at ways institutional investors and NGOs can increase impact and still achieve market rates of return.