Description
The project concerns the development and implementation of the SROI (Social Return on Investment) methodology. The methodology involves the valuation of social investment in terms of a monetary value, which allows NGOs to determine if their projects are using the financial resources they have available in the most efficient and effective way, which in turn helps to maximize their social impact. The know-how for the implementation of the methodology will be transferred through a partnership with the SROI Network International. The project aims to build the capacity of Equal Society, as well as that of other NGOs that will be the beneficiaries of the project. It also aims to promote the concept of impact measurement in the Greek NGO sector, an area that is currently lacking. This will take place through workshops and conferences and finally the implementation of a strategic tool that will be openly available to all NGOs in Greece.
Summary of project results
Social impact evaluation, especially in a period of economic recession, becomes more than necessary. In Greece, there was not used any tool that would evaluate the impact of the social investments that took place. Equal Society decided that she should be the organization to fulfil this gap by assisting organizations in Greece to assess their impact and by promoting the social value measurement as a model of evaluation and strategic planning for social actions. She achieved her purpose by introducing a new service the “Social Value” provided impact assessment services which is the first of its kind in Greece. The methodology for the impact assessment that analysts used was the SROI (Social Return on Investment). During the project 10 NGOs, very successful in their domain, were evaluated. At the end of the evaluation the participants received a detailed report describing their theory of change, the way that they create impact and consultancy about optimizing their strategies. Moreover, for establishing the social accountability culture in Greece Equal Society organized public activities. Specifically, 4 work-shops and 1 conference in Athens, Thessaloniki, Patra and Heraklion were organized with many participants being familiar with the importance of impact assessment. Furthermore, during the program one more analyst was trained on the SROI methodology in London, United Kingdom and we were participated the “Critical Mass” conference in the same city for further education and networking purposes. The majority of participants NGOs will use the results to their strategic planning to enhance their social performance. Also, as a result of the assessment “Agalia” (participant NGO) managed to be awarded by the European Council and receive a financial prize equal to 10,000€. As it was mentioned by them, the fact that they presented a thorough technical report relating to their actions helped them to be distinguished by their competitors. Furthermore, many organizations decided that they will use SROI in the future to track their impact. Also the work-shops and the conference had as result many organizations and private firms show interest in impact assessment and its usage as tool for optimizing their strategies
Summary of bilateral results