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Social Return on Investment: Reimagining What Matters
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when we think about social return on
investment or sroi we are looking at the
way that a program makes impacts
systemically in a community so I often
think of a pebble being thrown into a
pond and that's the program's activities
and then once that is thrown into the
pond there comes these rings of ripples
so what sroi does is it watches very
carefully to see where the the initial
impact is and then it begins to measure
effects when businesses and also
nonprofits are reporting their their financials
financials
they're reporting to their investors
it's critically important for them to be
able to explain the holistic Financial
value of what those products and
services are are doing and so sroi gives
them the ability to report those those
metrics in the same financial terms as
you're reporting return on investment or
Roi so to take a very specific example
of the Habitat for Humanity con
construction company that activity is
helping people to fix up their houses so
that is the pebble that gets thrown into
the pond and then the first ring is you
know the immediate effects to the
property value the immediate effects to
the surrounding neighborhood or the um
you know the tax base of the
neighborhood it's creating local jobs
but the next impact is the impact on the
families of the people that live in
those homes they can now bring bring and
invite people over to their homes
because they feel a sense of pride in their
their [Music]
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homes I think the beginning of this
sroi partnership is a tribute to the
Brilliance both of the late John Glazer
and of Ken aers at Habitat for Humanity
because they both got it about how this
could make a big difference in a lot of
places there's so much hunger to be able
to express impact Beyond
Beyond just
just
profit what is the impact on people what
is the impact on the earth the biggest
challenge that we had we knew what the
impact was we just didn't know how to
tell the story and we knew that uh
having a decent place to live increased
educational attainment but we didn't
know how to tell that story sroi helped
that you know by teaming with the
voinovich school through the funding
from the Sugar Bush Foundation we were
able to take the time to research and
sroi allows us to to be able to
reference that and tell that story when
I came along in 2019 and 2020 and was
trained by social value
International Sugar Bush then really
catalyzed the exponential growth of sroi
University the first step is
understanding the intended audience
scope and purpose of the sroi so this is
when we meet with the executive director
the president the leadership key staff
and we ask them why do you want this
sroi what are the measures that you
haven't been able to value that are
important to you the second step is we
want to meet with the key
stakeholders so we ask the leadership
who do you have an impact on and we want
to talk to everybody we want to talk to
the primary beneficiaries or the
customers we want to talk to board
members we want to talk to staff and we
want to talk to community members who
support you when we are talking to these
folks were looking for the change that
the Enterprise makes in their lives we
use the process of Ripple effects
mapping with the broad-based stakeholder
group so for passion works the primary
people that are changed are the artists
themselves and it was critical for us
to hear the artist perspective in the
artist words from the artist's point of view
view
so in true passion Works form we asked
each artist to
draw illustrate the most important
change that passion Works had made in their
their
lives and the results are amazing some
of the artists Drew stories one artist
for example she Drew this picture of
herself in a dark room this representing
before passion works and then she Drew
herself at a table with her other
passion Works artists and the little dog
that comes and then the final stage is
like her you know emerging as this
being then the third step we move on
to developing the indicators so now we
understand what changes but now we have
to understand how much
and for how many
people experience the change so this is
where we delve into the organization's
data then we move on to the fourth step
and that is valuing what changes this is
the fiscal proxy development so now we
understand the change we know how much
change is happening now we can do the
research to put a dollar amount on it
then we go into the research and we try
to figure out has anybody else St
studied this change and understood what
it costs to make a change of this nature
for every single proxy that we calculate
for our um for the clients we go through a
a
rigorous methodological process to
valuations passion Works was unique
because of the incredible increases in
quality of life that it gives it stake
holders we had these sets of outcomes
that were all about
about
interconnectedness belongingness you
know emotional growth mature growth and
maturity that are not tangible that we
needed to figure out a way to measure
these quality of life
outcomes to put a monetary
value on the increase in quality of life
we used a combination of statistics and
then all
also monetary valuation from the health
care field in terms of a quality
adjusted life year the final sroi metric
for every dollar invested x amount of
social value is created is a fluid
metric it changes each year maybe each
quarter it changes as the activities of
the organization change and as the focus
of the organization changes they
allocate more resources in a certain
area and not in others that will change
the overall [Music]
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ratio then finally the last step is to
share the
results and this is very cyclical in
nature because we go back and we share
the results with the leadership team
with the
stakeholders we have been able to move
from an excel-based calculator
to a cloudbased software calculator that
now social Enterprises can embed on
their web page to illustrate their
impact so one example is for the true
pigments project and the output is
measured in miles of stream restored now
supporting life and then we understand
the changes as a result of true pigments
now the stream is totally restored it
supports life it's clean and the way we
monetize that is by understanding if it
weren't for True pigments how much would
it cost to restore each of those miles
and so we're able to put a dollar amount
on actually each linear
foot of the stream restored by true
pigments activities for the true
pigments project one of the Ripple
effects that um that we have been able to
to
measure and have been so excited about
seeing come to life is the art that
comes out of this pain pigment that's
extracted from the acid mine drainage
the streams so now this pigment can be
turned into paints and those paints are
being sold and artists are making
beautiful um are making beautiful art
out of what was once pollution that was
clogging up streams and I mean what a
better way to visualize the Ripple
effects of of sroi through through
through ART that's made from
pollution being able to to really put
some numbers on the value of sustainable
iron oxide pigment and to be able to
think about um you know some of this the
social impacts that um you know possibly
uh elevated property values Downstream
and the Eco tourism piece thinking about
all of those and being able to weave
those into the narrative that that we
are are sharing about true pigments has
been I think really important to to
telling the story in a more
comprehensive way it's also been
important from a strategic planning
perspective we've been able to look at
that and go okay now it's not just about
family served but it's also about impact
generated and we utilize as I for our
strategic decisions here at habitat now
because of the impact it can have on weighing
weighing
impact the more value that you can
legitimately explain and apply to
whatever it is the more the so-called
value proposition can be can be
explained and so it's critically
important to be able to tell that story
of the whole value proposition and the
impact that that's having on on [Music]
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Society for the Sugar Bush
Foundation the biggest impact of sroi
itself is the ability that it gives us
to help change the
narrative about appalachin Ohio and to
give us quantitative research backed
data to tell the value of all the assets
that are present across this region
region
that is giving us a
future that we can
tell to the rest of the world with an
Innovative technology and process that's
actually originating out of appalachin Ohio
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