The Social Investment Business and Good Analyst have launched a free online tool to help charities better demonstrate their social impact and attract more investment.
The online tool includes advice from leading social investors and social enterprises and a simple introduction to the principle of impact reporting.
Social Investment Business says its research shows that investees who embed social impact measurement are more effective at meeting the needs of their beneficiaries, and it helped in speaking to funders and investors.
Jonathan Jenkins (pictured), chief executive of the Social Investment Business Group, said: “As an engaged investor, we want to make it easy for those looking to take on social investment. That’s why we’ve worked with The Good Analyst to create some simple videos and case studies on evidencing social impact to help social ventures understand what investors want.”
A number of impact measurement tools launched last year, focusing on shared measurement, among them, in March, Inspiring Impact released a shared impact measurement guide for organisations working in the same field.
Inspiring Impact is a coalition of civil society organisations, led by New Philanthropy Capital and, including NCVO and Acevo, which plan to provide leadership on impact measurement until 2022. It was been funded in its first year by the Big Lottery Fund, Cabinet Office, Deutsche Bank, City of London Corporation, and Diana, Princess of Wales Memorial Fund.
In a similar move last January, Big Society Capital launched a common impact reporting framework in conjunction with 14 other social investors, including Social Investment Business.
It seeks to build common ground in the social investment sector on impact strategies, including impact reporting and monitoring.