Corporate philanthropy is as vital as ever to business and society, but it faces steep pressures to demonstrate that it is also cost-effective and aligned with corporate needs. Indeed, many corporate giving professionals cite measurement as their primary measurement challenge. The industry critically needs to assess current practices and measurement trends, clarify the demands practitioners face for impact evidence, and identify the most promising steps forward. This research report aims to meet that need, by presenting the corporate philanthropy community with an analysis of current measurement studies, models, and evidence drawn from complementary business disciplines as well as from the social sector.