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Measuring Real Value: A DIY guide to social return on investment. Lisa Sanfilippo Q & A with Eilís Lawlor and Richard Murray. What is SROI?. SROI: a practical research tool ‘Seeing’ value of Social Enterprise & any organisation more clearly Stakeholder engagement provides evidence base
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Measuring Real Value: A DIY guide to social return on investment Lisa Sanfilippo Q & A with Eilís Lawlor and Richard Murray
What is SROI? SROI: a practical research tool ‘Seeing’ value of Social Enterprise & any organisation more clearly Stakeholder engagement provides evidence base Based on Social Accounting principles Alternative to HMT-style Cost-Benefit Analysis
The Guide ‘Setting the standard’ • Step by step • Case studies- 2 social firms • For you… organisations, evaluators, researchers, decision makers
Understand & Plan Stakeholders Boundaries Impact Map/Indicators Plan Collect data- with people Project into the future Analyse Income & Expenditure Calculate SROI Report The method:
Pack-IT • For every £1 invested in Pack-IT, £1.90 of social value is created each year for society in terms of reduced welfare costs and increased local purchasing. • Pack-IT generates a combined social return on investment of £71,600 – of which £33,700 is the value added after adjustments are made for grants and wage subsidies.
Millrace IT • For every £1 invested in MillRace IT, £7.40 of social value is created -reduced health care costs, reduced benefits costs, as the long-term unemployed come off benefits.
Adventure Capital Fund Exploring loan repayment in ‘social value’ Making the value/benefits/ outcomes stronger part of the award-making process? - community space - child care - recycling/composting Coming soon…
Why do it? • Managing outcomes/ improving • Competing in the marketplace • A good place to hang your hat • Will not mask poor performance (benefit?) • Staying mission driven/prevent mission drift • Adaptability- project level, organisational level, policy level: in a more inclusive way • Use with ‘types’ of SE or SE support?
The Kinks • Comparisons among organisations? • Potential for misreporting of SROI ratio • The trouble with money- the search for values & proxies • Toting up the value or ‘added value’ of social enterprises- attribution • Evidence vs. assertion • Robustness vs. useability • The booster effect
Where next? • Refining the process • More and better values • Drawing together and sharing knowledge • New areas of social, environmental and economic impact • Measuring What Matters Programme: informing public sector decision-making • Invest to Save (HMT) procurement • Social Investment… the obvious frontier
Co-parents Thanks to authors, co-editor • Jeremy Nicholls, Cat’s Pyjamas/ nef • Alibeth Somers, LSBU • Susan Mackenzie, Philanthropy UK • EilísLawlor (ed.)
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