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The 2016 Aspen-Nicholas Water Forum focused on the shifting role of public and private financing for water infrastructure and the new universe of innovative financing solutions to create impacts in the water sector, including how impact investing can hold the multiple roles of bridging the ever growing funding gap for infrastructure, improve water use efficiencies, and protect water resources while at the same time making a financial profit. Among the forum report's key findings: 1) Business as usual is not sustainable—we as a society are now paying for the “can-kicking” that has occurred while we debated responsibility for U.S. water resources; 2) The water issues we face as a nation continue to grow as the water community dithers and invests in one-off projects, rather than focusing on scaled solutions like regionalization and integration; 3) Money is not the issue; there is plenty of private capital available to meet the current water funding gap, but there are significant barriers to impactful and innovative financing; 4) Government regulation and public education can go hand in hand to gain public support for improved water management while supporting social equity; and 5) Leadership is one of the prime movers for innovative finance projects in the water space.