Wonderful news! Investing In Communities is excited to announce a new partnership with Ashoka Changemakers. As a Funding Partner on Changeshops Beta, IIC will require all funding recipients to set up a free Changeshop so they (and we) can track the social impact of IIC’s funds.
What is social impact, anyway? When we talk about measuring social impact, we generally mean measuring social or environmental outcome – the result of implementing a program, producing a good, or consuming a product or service. Outcomes are distinct from outputs – the amount of goods produced or products delivered .
And why is this distinction important? Suffice it to say that the past ten years have seen an incredible upsurge in both the intensity and extent of outcome-oriented philanthropy . Put another way, let’s face it: tracking the impact of social ventures has become an integral factor in determining which organizations receive funding. Foundations, corporate donors, and the government are all starting to evaluate impact. Funding is scarce, and you don’t want your organization to miss the boat. But it’s not just about funding. The real goal of impact assessment is to understand how to better serve your beneficiaries. (To read more about the broader implications of this industry shift to outcome-oriented philanthropy, we encourage you to check out a recent article by IIC’s Colleen Poynton: “The Challenges of Measuring Impact Assessment”).
With these two objectives in mind – funding and social good – let’s look at just how Investing In Communities’ partnership with Ashoka Changemakers will help nonprofits, consumers, and real estate professionals make a difference in their communities.