Best Framework to Measure SROI Social Return on Investment
Social Return on Investment a Guide to SROI: SoulAce undertakes social returns on investment (SROI) studies to comprehend the social returns of a community project vis a vis the financial investment on the project. SROI is a method for measuring impact numbers of social, economic and environmental values that are not traditionally reflected in financial statements. It identifies how effectively the organization uses its capital and other resources to create value for the communities around its operational areas.
SROI social return on investment is taken for specific CSR or foundation project understanding the economic impact it has created. SROI helps in differentiating between projects of high impact nature. SROI should be undertaken specifically to understand in detail the impact the initiatives has created especially for initiatives which has been undertaken for substantial period of time.
Social return on investment SROI help organizations improve its program planning, monitoring and evaluation as it allows better communication related to the organization’s work both to internal and external stakeholders.
It can also identify possible undesirable consequences of projects, providing an early opportunity to change strategy or put in place measures to address negative outcomes. Philanthropists, venture capitalists, foundations and other non-profits may use SROI to understand in monetary terms the social impact created by the interventions.
SoulAce has conducted 15 plus social return on investment (SROI) studies for projects of CSR, foundations, NGOS and governments ranging from in different thrust areas like education, health, skill development, wash covering different geographies. SoulAce has developed its own framework to measure SROI in line with best of global practices and frameworks.