It seems like everyone has their own definition of donor impact reports. Some use it as a tool to report individually to every donor with an endowed fund on the performance of their specific fund.
Others use it more like a newsletter to show all the great things they did last year.
I’m seeing some orgs share it once at the beginning of the year and others produce documents quarterly or monthly.
Some orgs are moving from a branded PDF to a live Zoom call or a recorded video from the CEO.
(No affiliation with the graphic above, just the first hit that appeared when I searched Donor Impact Report in Google Images.)