Faculty development programs are often at risk during difficult economic times. In order to answer the question about the value that faculty development adds to the institution, programs must measure important outcomes, not simply report the number of faculty served and how well they liked their experience. The authors describe the assessment process used at one medical school to measure change over approximately a two year time span, as well as the interventions and programs that influenced the results, with particular emphasis on women and junior faculty. Results show significant gains across all items and multiple faculty demographic groups. The findings have implications for both decisions about faculty development and assessing its impact. (Contains 1 figure and 5 tables.)