This article describes the development and psychometric properties of the Community Impact Scale (CIS), a measure of benefits and costs of community-university partnerships across a range of outcomes as perceived by community partners. Scale development was carried out in two phases: (a) item generation, through which the research team, in close collaboration with a long-term community partner, created scale items based on content analysis of interviews with eight community partners, observations of existing community-university partnerships, and insights from the research literature; and (b) item analysis, through which the psychometric properties of the scale were examined and the scale slightly revised based on results of administering the scale to a sample of 31 community partners. The final version of the CIS comprised 46 items across eight scale domains. The CIS may be regarded as a foundational assessment tool that has the potential to help community partners evaluate the impact of partnering with universities.