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Social Return on Investment

A New Tool to Describe the Power of Our Work. Social Return on Investment. SESSION #1. Funding Provided by: City of Edmonton In Kind Contributions: City of Edmonton Edmonton Social Planning Council Social Enterprise Fund United Way. Acknowledgement. History of SROI in Edmonton

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Social Return on Investment

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  1. A New Tool to Describe the Power of Our Work Social Return on Investment

  2. SESSION #1 Funding Provided by: City of Edmonton In Kind Contributions: City of Edmonton Edmonton Social Planning Council Social Enterprise Fund United Way

  3. Acknowledgement • History of SROI in Edmonton • Training • Players • Evolution of SROI Edmonton • Sources for Presentation

  4. Housekeeping • Refreshments • Toilets • Mobiles off • Handouts, binders and on-line resources

  5. Introductions • Name? • Organization? • Why are you here? • What activity will your SROI Analysis focus on?

  6. Training Framework • Four Half Day Sessions • Reading Materials and other Resources • Homework Assignments • One on One and Small Group Support • Final presentation of SROI Analysis • Follows guidelines for assurance by the SROI Network

  7. Training Schedule

  8. Today’s Agenda • Introductions • Orientation to the Training • Background and theory of SROI • Value Creation and the Theory of Change Break • Scope • Stakeholders • Group Exercise • Resources • Homework and One on One Follow Up • Evaluation

  9. Learning Objectives • Understand the process and principles of SROI and how to apply them • Identify the scope of your proposed SROI Analysis • Name the stakeholders who have a role to play in the value your organization creates

  10. Where did SROI come from? • Cost-Benefit Analysis • REDF (formerly the Roberts Enterprise Development Fund) of San Francisco • Genuine Progress Indicators • New Economics Foundation (nef) 2003

  11. What is SROI? • It’s a method for calculating the impact of the work we do – the value we create • It’s an approach that includes qualitative and quantitative approaches to tell a fuller story • It is a tool to monetize the benefits – whether they be social, economic or environmental • Cost Reallocation • Increased Income • Change in People’s Lives • Decrease in carbon emissions

  12. What is an SROI analysis? Impact = (Positive Outcomes – Negative Outcomes) x Deadweight x Attribution • Impact (the difference made) • Positive Outcomes • Negative Outcomes • Deadweight & Displacement • Attribution • Drop-off (used for projecting the SROI year to year)

  13. Dis/Prove: Capture and report on the social, economic and/or environmental valued created by a program or policy. Improve: Use the tool to manage the program for greater impact. It can be used as a tool for: Strategic planning and improving Communicating impact Attracting investment or making investment decisions Managing activities Why Do SROI?

  14. Misconceptions • SROI is always time consuming, expensive and impossible without external support • SROI is all about the money • Organisations or projects can be compared using the SROI ratio

  15. The SROI guide

  16. Forms, types and principles • Value generated by an entire organisation or just a specific aspect/program • Types: Evaluative or Forecast • SROI is underpinned by principles

  17. Key principles Involve stakeholders Understand what changes Value the things that matter Only include what is material Do not over claim Be transparent Verify the result

  18. The stages (see guide p. 96-98) Carrying out an SROI analysis involves six stages: Establishing scope & identifying key stakeholders Mapping outcomes Evidencing outcomes and giving them a value Establishing impact Calculating the SROI Reporting, using and embedding

  19. Impact Map

  20. Sample of Completed Map

  21. Filling in the Impact Map Scope

  22. Scope (See guide p 18 -19) Decide on the parameters of your SROI analysis • Purpose • Audience • Background • Resources • Who will do it • Activities • Period • Evaluation or Forecast

  23. Exercise: Scope • Is this a forecast or an evaluation? (forecast recommended for training) • Decide your activity to analyse(think small for training) • Decide the time scale (1 year recommended for training)

  24. Value Creation and Theory of Change • The story of how you seek to make a difference in the world – the wider benefits created for individuals, communities and societies. • This can be framed positively or negatively. “If we don’t provide housing, they will die on the streets” OR “If provided housing, homeless people can enjoy more healthy and productive lives”.

  25. Exercise: Your Theory of Change • You believe that doing “x” will result in “y” - “x” is what you are doing, “y” is why you are doing it. • Describe your Theory of Change for the initiative you will use in the training • Think: cause – effect • Write: If ………. Then……..

  26. Filling in the Impact Map Stakeholders

  27. Stakeholder Analysis (See guide p. 20-21) Stakeholders are the people or organisations that experience change as a result of your activity: • People living in poverty • People with addictions • People with mental health issues • Persons with developmental disabilities • Public at large • Seniors (65+) • Women • Youth (12 +) • Aboriginal people • Children (< 12) • Ethnic groups, immigrants • Families • Geographic communities • Governments/tax payers • Men • Neighbours • Offenders

  28. Exercise: Stakeholder Identification • Brainstorm a list of stakeholders: • Who benefits (directly and indirectly)? • Who invests? (various kinds of resources) • Who has an interest in the outcome? • Non-human beneficiaries?

  29. Refining Scope

  30. Refining Scope (see guide pg. 22) Record on your impact map the key stakeholders you will work with for this training exercise. At a minimum, include an investor/funder and an end user.

  31. Involve Stakeholders (see guide p. 24-26) • At this stage, you are analysing what you think will change (or did change) for stakeholders in order to decide if they should be included or not. This MUST be verified by the stakeholders themselves. • Consider how to involve stakeholders at every stage (this will have to happen outside our training sessions)

  32. Homework Assignment • Review Checklist for Stage 1 (p. 99 of the SROI Guide) • Determine the scope of your SROI Analysis • Confirm your Theory of Change • Involve others to confirm the key stakeholders for the SROI analysis • Fill in Column 1, Stage 1 of the Impact Map • Read pages 1 – 24 of the SROI Guide • Read Back on Track case study

  33. Optional Reading/Resources • NEF SROI Guide • Sustainable Returns Brochure • Check out the Social Evaluator 0n-line tool www.socialevaluator.eu

  34. Evaluation • Please fill in honestly – your answers will be used to improve the training • Your answers will be compiled by City of Edmonton staff – anonymous from the trainers point of view

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