This article describes the development of the Community-Based Learning (CBL) Scorecard by a grant-funded consortium of liberal arts institutions. The aim of the scorecard was to promote assessment that improves student learning with an instrument that employs a quantitative scale, allowing for benchmarking across institutions. Extensive interviews with faculty who participated in the pilot (Charles & Choi, 2013), including specific perceptions of the value of using the scorecard to assess the students’ CBL experience and improve learning outcomes, were reviewed. Results indicated that the CBL Scorecard, with appropriate administration, serves as an adaptable tool for assessment of CBL that can provide timely feedback and reminders of best practices to faculty. Increasing student response rates, the scorecard’s value for faculty development, and improving the experience for community partners are discussed.