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Measuring Social Impact

Measuring Social Impact. Presented by Joyce Sou Family Services Ontario May 7th, 2013. Impact. Energy efficiency. Prime + 2%. Poverty reduction. 8%. Stronger family relationships. Return. +. Jobs for marginalized populations . 1% p.a. over three years. Carbon reduction.

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Measuring Social Impact

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  1. Measuring Social Impact Presented by Joyce Sou Family Services Ontario May 7th, 2013

  2. Impact Energy efficiency Prime + 2% Poverty reduction 8% Stronger family relationships Return + Jobs for marginalized populations 1% p.a. over three years Carbonreduction

  3. The quest for certainty blocks the search for meaning Erich Fromm If you cannot measure it you cannot improve it Sir William Thompson

  4. Not everything that counts can be counted, and not everything that can be counted counts. Albert Einstein

  5. 1932 - American Institute of Accountants form Committee on Generally Accepted Accounting Principles 1936 – Canadian Institute of Chartered Accountants form Terminology Committee 1942– Institute of Chartered Accountants in England & Wales publish Recommendations on Accounting Principles 2001 – International Accounting Standards Board is formed

  6. Impact Map

  7. What is SROI? Social Return on Investment is a framework for measuring and accounting for the valuecreated or destroyed by our activities – where the concept of value is much broader than that which can be captured by market prices.

  8. val·ue/ˈvalyo͞o/noun the regard that something is held to deserve; the importance, worth, or usefulness of something the material or monetary worth of something

  9. Return on Investment (Net Profit) Cost of Investment ROI =

  10. 7 Principles of SROI • Involve stakeholders • Understand what changes • Value the things that matter • Only include what is material • Do not overclaim • Be transparent • Verify the result

  11. Case Study: Family Centre • Single-parent or blended families • Experiencing relationship challenges with children • Police involvement • Reported significant stress • Time off work taken

  12. 1. Identify stakeholders Involve stakeholders Understand what changes Only include what is material

  13. 2. Map outcomes Involve stakeholders Understand what changes Only include what is material

  14. 3. Assign indicators and financial proxies Value what matters

  15. 2. Map outcomes 1. Identify stakeholders Involve stakeholders Understand what changes Only include what is material

  16. 3. Assign indicators and financial proxies 10 * $2,500 = $25,000 Value what matters

  17. 4. Establish Impact Do not overclaim

  18. Be transparent 5. Calculating SROI Verify the result ($25,000) $15,000 net social benefit SROI = cost of investment = $1.66 For every dollar invested in Family Centre $1.66 of social value is generated.

  19. SROI: Challenges and Opportunities • Resource intensive • Difficult to standardize • User knowledge required • Tells full story • Captures material change • Assigns financial value to outcomes

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